On-Q-ity Named #3 in Venture Capital Journal's 20 Most Promising Start-ups
Waltham, MA - April 6, 2010 --On-Q-ity, a next-generation oncology diagnostics company developing products to improve cancer therapy effectiveness, today announced that Thomson Reuters' Venture Capital Journal named the company to its list of the 20 most promising start-ups funded by U.S.-based investors in 2009. The inaugural edition of the "VCJ20" was announced in the April issue of VCJ and placed On-Q-ity at number three, making it the only biopharma or molecular diagnostics company in the top 10.
"We are pleased to be chosen from the impressive list of start-ups that were evaluated," said Mara Aspinall, President and CEO of On-Q-ity. "Being recognized in the top tier is very gratifying, validates our investors' belief in the company and its management, and reaffirms our commitment to developing a truly transformational technology platform that will change the way that cancer is treated."
According to VCJ Editor-in-Chief Lawrence Aragon, a team of six evaluators whittled the list down from the original 1200 start-ups that either received seed money or Series A funding in 2009. Each company was rated on five key factors and awarded 1-5 points for each category for a maximum score of 25. The factors included potential market size, quality of the team, technology edge, business model and exit potential.
To read a synopsis of the article, click on: http://blogs.reuters.com/small-business/2010/03/31/top-20-most-promising-startups/
About On-Q-ity
On-Q-ity is a next-generation diagnostics company transforming cancer treatment through non-invasive diagnostic monitoring. The company is developing innovative diagnostics to identify the unique characteristics of an individual's cancer, predict the response to therapy, monitor the efficacy of treatment and identify the cancer's recurrence. The company's circulating tumor cell and biomarker technologies originated from groundbreaking research at Massachusetts General Hospital and the Dana Farber Cancer Institute and MIT, respectively. Headquartered in Waltham, MA, On-Q-ity is funded by Atlas Venture, Bessemer Venture Partners, MDV-Mohr Davidow Ventures, Northgate Capital and Physic Ventures. For more information: www.On-Q-ity.com.
###
SOURCE On-Q-ity Inc.