MINNEAPOLIS, June 22, 2017 — StemoniX® is joining the ranks of Google & Labcyte as winners of one of the technology industry’s most prestigious honors. The company, with offices in the Twin Cities and San Diego, was awarded a 2017 Red Herring Top 100 North America award for revolutionizing the way medicine is discovered. StemoniX® makes it possible to test medication on humans without that medicine ever entering their bodies. The company’s groundbreaking technology stood out among thousands of entrants.
Red Herring’s editors have been evaluating the world’s startups and tech companies for more than two decades. It gives them the ability to see through the industry’s hype to pick firms that will continue on a trajectory to success. Brands such as Alibaba, Google, Kakao, Skype, Spotify, Twitter and YouTube have all been singled out in Red Herring’s storied history.
“Being named a Red Herring Top 100 winner is an incredible honor,” said StemoniX CEO Ping Yeh. “We truly believe in the importance of what we’re doing and in making medicine more effective and safer for everyone. This award is affirming not only for us, but also for our investors, who continue to make it possible for us to pursue our mission of making sure medicine works the first time. Our commitment to improving our technology, and our work with some of the country’s top producers of therapeutic cures, will ensure we achieve our vision.”
StemoniX was born out of Yeh’s own medical battle. 5 years ago, he survived a frightening bout with cancer. During treatment, his only option to beat the disease was a drug that may have destroyed his heart. There was no way for doctors to test the effectiveness of that treatment or Ping’s survival rate ahead of time. Convinced there had to be a better way to test medication, he poured his life savings into starting StemoniX. In only three years, the company has made scientific breakthroughs that may forever alter how people are treated.
“Every year, Red Herring North America Top 100 selects an amazing group of disruptive companies. But a few carry an exceptional weight because they will change the world. StemoniX is one of them,” said Red Herring chairman Alex Vieux. “Ping Yeh and his team are receiving continued and increased market validation for their technology. StemoniX will revolutionize drug discovery research and has pioneered a novel approach. Hence the jury was enthused at the opportunity to recognize StemoniX among the Top 100 Red Herring North America 2017.”
StemoniX is on a mission to accelerate the discovery of new medicines. The company develops and scalably manufactures human induced pluripotent stem cell (iPSC)-derived cardiac and neuronal platforms for drug discovery and development. Their human models enable scientists to quickly and economically conduct research with improved outcomes in a simplified workflow. StemoniX microHeart® products, which come in high-density plate formats, provide researchers with structurally aligned human iPSC-derived cardiac cells that exhibit accelerated features of maturity resembling heart tissue.
StemoniX microBrain® products will launch later this year, containing physiologically relevant human iPSC-derived neural microtissue in high-density plates with biology, activity and functional maturity that mimic brain tissue.
StemoniX also offers Discovery as a Service. The company has the ability to develop custom-iPSC-based disease models, test compounds with its in-house screening capabilities and operationalize their customers’ human iPS cells at large scale for high throughput screening.
Following StemoniX’s Top 100 win, they are invited to present at the Top 100 Global event in November that will encompass the best-in-show from the Top 100 Europe, North America and Asia.
StemoniX is transforming how medicine is discovered. By using skin or blood to create functioning microHearts® and microBrains®, StemoniX is making it possible to test medication on humans without that medication ever entering their bodies. This method of drug testing will speed up the search for new cures and enable the ability to test drug effectiveness on an individual person, so medicine works correctly the first time. Learn more at stemonix.com.