In the midst of widespread economic and social disruption this cutting edge company has been praised by expert analysts.
WASHINGTON, DC, UNITED STATES, August 6, 2020 /EINPresswire.com/ — Cutting edge biotechnology startup, Otomagnetics Inc. has investors and financial analysts buzzing due to its innovative technology which provides effective, non-invasive magnetic drug delivery solutions that have the potential to effectively improve millions of patients´ lives.
From an early age, Abhita Batra (CEO of Otomagnetics) was actively and consistently exposed to the inner workings of business, entrepreneurship and the unfathomable potential held by successful biotechnological endeavors; As a youth, Abhita envisioned a vivid journey into the future of human healthcare that promises substantial, measurable and scalable benefits.
Immediately after joining Otomagnetics as its Chief Executive Officer the immense potential and substantial responsibility that comes with unbridled innovation was clear; Amongst savvy venture capitalists, investment bankers and seasoned investors, the company has become a hot topic. The young and successful scientist and business leader holds a Global MBA from UCLA and a Masters in Biotechnology with specialization in Pharmaceutical Sciences from University of Pennsylvania; Batra is also a distinguished member of the Forbes Business Councils.
The cutting-edge technology championed by Otomagnetics, Inc was successfully developed at the University of Maryland out of the Fischell Department of BIoengineering (BioE) and Institute for Systems Research (ISR) in 2013 – has the potential to dramatically effect the vector of global healthcare. Perhaps one of its most impactful applications is the unrivaled potential this technology holds to dramatically improve the lives of cancer survivors – especially children.
With advancements in cancer treatment, more children survive their battle with childhood cancers. Loss of hair, nausea, and vomiting are well known secondary effects. Hearing loss is a less known secondary effect with the potential to disrupt the quality of life for 80% of children after treatment. If a delivery platform such as the one developed by the burgeoning biotech startup could be used to deliver medication that would protect the inner and middle ear from damage, across the blood barrier in a non-invasive way, it could prevent hearing loss in thousands of children.
Under Abhita Batra´s efficient leadership, Otomagnetics has successfully raised several million dollars in seed capital and secured a myriad of strategic commercial and development partnerships.
In 2017, Otomagnetics was awarded a $2.3 million Fast Track NIH/NCI SBIR Contract to develop a pediatric cancer drug delivery system to prevent hearing loss from chemotherapy regimens. “We are honored and excited to be working closely with the National Institutes of Health to address a pressing clinical need,” said Otomagnetics President and Co-Founder Benjamin Shapiro. “There should not have to be a choice between effective chemo and lifelong hearing loss. Our technology has the potential to allow treatment by chemotherapy without the attendant risk of hearing loss.” Earlier this year Otomagnetics also received additional investment through AngelMD’s Catalyst Fund. They received a Montgomery County Small Business Innovation Research (SBIR) Phase I Matching Grant in September.
What excites investors and clinicians alike is the potential to eliminate hearing loss for children undergoing chemotherapy and solve for an unmet clinical need.
As the modern world continues to search for more effective solutions across every major industry, companies like Otomagnetics have effectively positioned themselves at the forefront of an irreversible global healthcare revolution.
Source: EIN Presswire