Nanology Labs' CEO and Founder, Mohammad Amini, presented his cancer-treating nanotechnology startup with an air of confidence and insightful clarity in the RBC Prize for Innovation & Entrepreneurship, which is an annual pitch competition as the finale of the True Blue Expo, the capstone event of U of T Entrepreneurship Week.
Nanology Labs won the $25,000 Later Stage first prize victory due to its idea of “non-toxic MRI contrast agent” called Manganescan that is more effective in detecting early-stage brain tumors addressing the current societal problem of merely detecting brain cancer in the advance stage. On top of Nanology Labs' already developed prototype that has been pre-clinically validated, it will begin scaling up production this year and validate its safety in dogs. Amini aims to manufacture formula for clinical trials by 2021 and launch the product by 2024. With a conservative estimate, the company is expected to bring in $120 million to $150 million annually by 2029.