TUCSON, Ariz.- The University of Arizona Center for Innovation (UACI) is pleased to announce the winning startup of the UACI Sponsored Launch Fueled by BIOSA competition. TheraCea Pharma will receive a sponsored year’s admission at the new biotech incubator, UACI at Oro Valley. Included with entrance into the program and space at the new location, the startup will also be awarded a cash prize of $5,000. The total package value is $15,000 and funded by the Bioindustry Organization of Southern Arizona (BIOSA). Program entrance will grant the winning startup with resources, facilities, services and expert guidance to grow their business.
TheraCea Pharma is a R&D stage Arizona-based biotechnology company that develops diagnostic positron emission tomography (PET) imaging agents for the detection of cancer, cardiology, neurology and infectious diseases. The company's platform is a novel chemical process enabling efficient, quick and high yield preparation of diagnostic agents. TheraCea Pharma’s management team consists of Chief Executive Officer, Iman Daryaei, Business Development Officer, Justin Jeffery and Chief Technology Officer, Arthur Shaw. The underlying technology was developed at the University of Arizona and licensed through Tech Launch Arizona. TheraCea founders also took their business through the McGuire Center for Entrepreneurship at the University of Arizona Eller College of Management.
Access into UACI provides this startup with a structured incubation program, customized business support and the ability to work alongside UACI’s 36 other startups. UACI provides access to the people, programming and places needed to scale a business. Along with support, entrepreneurs have a direct line to funding opportunities and mentors who guide them in turning their idea into product. Other tools the incubation program provides are office and lab space, a prototyping center and assistance through a 27-point roadmap that helps them with creating a business plan, identifying a target market, product development, marketing resources and much more.
“We appreciate UACI and BIOSA for their trust in TheraCea technology and the team. We are very excited for this opportunity as the award provides us a well-equipped laboratory and office space to further develop TheraCea technology while we get support and help from business mentors and industry experts. We, at TheraCea, highly believe that moving to this new UACI facility in Oro Valley is a significant milestone in our progress toward achieving our goals,” expressed Iman Daryaei, Chief Executive Officer of TheraCea Pharma.
“Our team is thrilled to welcome TheraCea Pharma to the UACI family. Their novel technology addresses a real-world medical need, and they have the right team to execute. The fact that this technology was developed at the university, licensed through Tech Launch Arizona and is now about to grow in our incubator highlights how the university collectively serves innovation from idea to success,” stated Eric Smith, Executive Director, University of Arizona Center for Innovation.
“We welcome TheraCea into the Arizona life sciences community through this competition. We are excited to see them as one of the inaugural companies establishing operations in the new UACI at Oro Valley incubator,” shared Nina Ossanna, Chair, BIOSA.
The winning startup was selected based on their biotech-focused innovation and dedication to making a significant difference in the local and global community through their innovation.
Applications were reviewed, and TheraCea Pharma the winner was selected by a panel that included the following judges.
- Mary O’Reilly, Vice President, Bioscience Research Programs, Flinn Foundation
- Andy Lombard, Executive Vice President, Innovation & Venture Development, Arizona Commerce Authority
- Anil Nair, Vice President, Icagen
- Susan Rosenfield, Registered US Patent Attorney,Fennemore Craig
- Patrick Marcus, Chief Executive Officer, Marcus Engineering, LLC
TheraCea Pharma will be immersed in the UACI incubation program starting December 15, 2020 through December 15, 2021 thanks to the generous sponsorship of BIOSA.