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Plan has potential
Students create cutting edge tech for next generation
Written by Ashley Centers - Argonaut
Monday, 22 March 2010
Michele Vachon, a UI graduate student, just returned from Texas, where she and two fellow students had the chance to show off a two-time local champion business plan. The plan was developed for investors, capitalists and experts in various fields at the World’s Best Technology Showcase in Arlington, and the University of Texas at Austin’s IC2 Institute business plan competition.
The business plan, Lucid Diagnostics, is based on research and technology developed over the last several years in the lab of Larry Forney, professor of biological sciences. Forney’s research focuses on women’s reproductive health.
Forney said as a microbiologist, he studies the bacteria present in the woman’s vagina to try and understand the differences in these microbial communities in every woman. He said he and his research team want to understand conditions in these communities to promote good vaginal health and what happens to make things go awry.
“We hope that our technology will catapult the development of individualized medicine, making it easier for doctors to diagnosis and treat Bacterial Vaginosis,” Vachon said. “Our second product line involves categorizing women based on their microbial communities to help identify and assess other health risks. At LDI, we call this typing technology. This will be incredibly valuable for preventative medicine and the development of specialized products based on a woman’s unique type.”
Forney said although no two people have the same microbial communities, they can be grouped into eight different categories based on similar composition.
“This business plan has the potential to change the lives of women everywhere,” said Gaylene Anderson, the licensing associate for UI’s Technology Transfer Office. “A woman will be able to buy feminine products that are tailored specifically to her body type. A woman is going to better understand what she’s at risk for, and because of that she’ll be able to manage her health.”
Lucid Diagnostics was developed by Vachon, who has a master’s degree in environmental science, UI law students Jacob Pierson and Brandon Holbrook, and Washington State University Masters of Business Administration students Brad Hansen and Siris Silva in conjunction with Anderson and Forney.
“The majority of the business plan was written as part of the MBA coursework at WSU about a year or so ago,” Vachon said. “The UI students consulted and contributed to the business plan content, although we did this outside of our normal class work. We had many late night meetings after work and school in order to get this done.”
According to Anderson, the UI technology team made it to the semifinals in both competitions in Texas. This is the first time students from UI and WSU have partnered on a business plan and a business plan team from UI has competed outside the state.
“Our technology was well received in all the forums that we presented in. We even held focus groups with women to help develop some of our marketing materials and slogan,” Vachon said. “The advice we received from the judges was priceless — normally people would pay thousands of dollars for the expert advice we received. It will only help us improve our plan and help the university improve this plan in the future. I doubt that this is the last time that this technology goes out to competitions. It’s only the beginning.”
The Argonaut
About WBTshowcase
Since 2002, the WBT has showcased over 560 technologies and emerging companies that have subsequently raised over $450 million in capital or licensed their technologies. For additional information, visit www.WBTshowcase.com.
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