Winner of Global Moot Corp(R) Contest Developed Innovative Technology To
Extract and Preserve Adult Stem Cells
PITTSBURGH, Aug. 13 /PRNewswire/ -- A team of students from the Tepper School of Business at Carnegie Mellon University will ring The NASDAQ Stock Market Opening Bell at 9:30 a.m. ET on Friday, Aug. 15 in New York City. The event is one of the coveted prizes from the team's win at this year's Global Moot Corp(R) competition, the annual business school contest known as the "Super Bowl of Business Plan Competitions."
The students' winning venture -- a medical technology company called NeuroBank -- beat out 37 other teams from leading business schools around the globe for this year's top honor. NeuroBank has developed a breakthrough proprietary technology to harvest, isolate, expand and store neurologic stem cells from cerebrospinal fluid, a clear bodily fluid around and inside the brain. The technology allows minimally invasive extraction, isolation, expansion and cryopreservation of these stem cells, which could be used to develop treatments for Alzheimer's disease, stroke or traumatic brain injury, among others. In addition, the technology will allow patients to store healthy neural stem cells to receive cutting-edge treatments for diseases they might develop later in life.
The NeuroBank team is comprised of MBA candidate Dr. Raymond Sekula and Sasha Bakhru, a Ph.D. candidate at Carnegie Mellon's College of Engineering. The team's advisors are Arthur A. Boni, the John R. Thorne Chair of Entrepreneurship; S. Thomas Emerson, the David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship; and Thomas J. Hajduk, associate teaching professor of business management communication and entrepreneurship. As Moot Corp(R) winners, they received a prize package valued at $100,000, including $25,000 in cash, one year of strategic business consulting and mentoring, prosecution of the first American patent by Ropes & Gray and consulting from the University of Texas McCombs School of Business entrepreneurship faculty.
"NeuroBank is a perfect example of how today's technology and medical industries can intersect with business for the betterment of society," Boni said. "The success of this venture is the latest in a rich legacy of entrepreneurial excellence at the Tepper School, and we are extremely proud of their accomplishment."
This year's Moot Corp(R) win marks the fifth time that top honors have been awarded to a team from the Tepper School of Business, making it one of the most frequent honorees in the 25-year history of the contest. In the last five years alone, the Tepper School has achieved three first-place finishes and one second-place finish. Long considered a leader in entrepreneurial education, the Tepper School was one of the first business schools to offer formal entrepreneurship courses and is home to the Donald H. Jones Center for Entrepreneurship, which brings together several of Carnegie Mellon's other renowned schools, including the School of Computer Science, the Carnegie Institute of Technology (engineering) and the Mellon College of Science, to offer exceptional interdisciplinary entrepreneurial education programs and resources to students.
The opening bell is available from 9:20 to 9:35 a.m. on Galaxy 28 C/9, downlink frequency 3880 horizontal, or Waterfront fiber 1623. An audio transmission of the opening bell is also available on uplink IA6 C band/transponder 24, downlink frequency 4180 horizontal. A live Webcast and high-resolution photographs of the market opening will also be available at http://www.nasdaq.com/reference/marketsite_events.stm.
About the Tepper School of Business: Founded in 1949, the Tepper School of Business at Carnegie Mellon (http://www.tepper.cmu.edu) is a pioneer in the field of management science and analytical decision making. The school's notable contributions to the intellectual community include six Nobel laureates, a Nobel Prize record that is unsurpassed by any business school worldwide. It is also among the schools with the highest rate of academic citations in the fields of finance, operations research, organizational behavior and production/operations. The academic offerings of the Tepper School include undergraduate studies in business and economics, graduate studies in business administration and financial engineering, and doctoral studies.
|SOURCE Tepper School of Business at Carnegie Mellon|
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