Today, Los Angeles, February 10, 2023 /PRNewswire/ — BIOMED, medibles parent company and the leading next-generation healthcare platform, was chosen as one of the top ten finalists for the MedTech Color 2023 Pitch Competition. MedTech Color (MTC) is a nonprofit organization that aims to advance the representation of persons of color in the Medtech industry.
The 2023 chosen entries for pitch day came from a pool of almost 100 nationwide applicants who presented innovative ideas and technologies aiming to solve problems that can facilitate better outcomes for minority patients and underrepresented communities.
This nomination illustrates BIOMED’s mission to democratize Healthcare, closing the “health gap” and making Healthcare accessible to everyone regardless of gender, race or ethnicity, sexual identity, age, disability, socioeconomic status, and geographic location.
The platform takes the guesswork out of medication dosages for patients, accelerating the adoption of personalized precision medicine, and delivering the most advanced prediction and treatment of disease, tailored to an individual’s unique circumstances, history, and condition.
“The unequal impact of COVID-19 shed a spotlight on the disparities in our healthcare system,” said Bobby Ntoya, founder and CEO. Furthermore, “our team is thrilled to be one of the ten finalists at MTC’s Annual Pitch Competition and to be among these incredible companies in Medtech, helping facilitate better outcomes for minority patients and underrepresented communities.”
One-size-fits-all mass production of medications costs the U.S. Healthcare industry $300 billion annually due to the under-representation of women, people from racial and ethnic minorities, and other diverse groups in clinical research.
- 70% of medicine dosages are ineffective, resulting in 125,000 deaths annually.
- 80% of all drugs removed from the U.S. market in the last decade were withdrawn because their side effects occurred mainly or exclusively in women.
- 90% of drugs fail during clinical trials despite significant time and money investments because they don’t adequately treat the condition they’re meant to target, or the side effects are too strong.