XENOTHERAPEUTICS, INC. SELECTED FOR MASSCHALLENGE 2016 ACCELERATOR,
Joins 128 startups from around the world for 4-month program in Boston
Boston May 19, 2016 – Today XenoTherapeutics, Inc. announced it will join MassChallenge Boston, the most startup-friendly accelerator on the planet. One of 128 startups participating, XenoTherapeutics, Inc. will benefit from mentorship, office space, and a vast network of experienced entrepreneurs, corporate partners, and investors. In November, all MassChallenge Boston startups will compete for $1.5M total in cash awards with no equity taken.
XenoTherapeutics, Inc., a Boston-based 501(c)(3) organization is working to develop a humanitarian skin graft device to treat burns; derived from specially bred porcine donors, it offers a groundbreaking solution to a serious medical condition. The company is excited to accelerate its development through access to the valuable resources offered by MassChallenge in the heart of the world-class Boston medical community. This opportunity will undoubtedly contribute to XenoTherapeutics’ mission to put patients first and develop an affordable, readily available treatment option for victims of severe burns.
“We received consistent feedback from our judges about the quality of applicants this year, and I'm confident we’ll have an incredibly high-caliber class of entrepreneurs joining us in Boston," said MassChallenge Boston Managing Director Scott Bailey. "These entrepreneurs will be challenged throughout the program to impact communities and provide disruptive solutions across a wide range of industries. Be on the lookout for them this summer!”
This year’s MassChallenge Boston class was selected from more than 1,700 applicants across a diverse range of industries and geographies, including 65 countries and 37 states. The accelerator program will culminate on November 2, 2016, at the MassChallenge Boston Awards Ceremony, where entrepreneurs will pitch their startups with the chance to win a share of $1.5 million in zero-equity awards.
The MassChallenge opportunity could not have come at a better time for XenoTherapeutics. The company recently received its official tax-exempt status from the IRS and is in the midst of submitting regulatory paperwork critical to the initiation of a human clinical trial, scheduled to begin in late 2016. In tandem with this clinical trial, the company is also planning several basic research projects set to begin in the summer of 2016 that will test and enhance certain aspects of the humanitarian device, including storage and transportation methods and shelf life.
About XenoTherapeutics, Inc.
XenoTherapeutics Inc. is a Massachusetts 501(c)(3) whose purpose is to bring lifesaving xeno technology from the laboratory to the patients who need it now. XenoTherapeutics’ initial breakthrough, Xeno-Skin, is a first of its kind humanitarian device for the treatment of severe burns and chronic wounds. Members of XenoTherapeutics represent a diverse array of experience and leadership. Our team includes world-renowned surgeons, physicians, executives, engineers, scientists, and military veterans.
MassChallenge is the most startup-friendly accelerator on the planet. No equity and not-for-profit, we are obsessed with helping entrepreneurs across all industries. We also reward the highest-impact startups through a competition to win a portion of several million dollars in equity-free cash awards. Through our global network of accelerators in Boston, the UK, Israel, Switzerland, and Mexico, and unrivaled access to our corporate partners, we can have a massive impact - driving growth and creating value the world over. To date, 835 MassChallenge alumni have raised over $1.3 billion, generated over $575 million in revenue, and created over 8,500 jobs. For more information, please visit masschallenge.org.
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