Rice University Business Plan Competition Winner Rings Closing Bell
at NASDAQ OMX Stock Market
Winner offers new horn fly vaccine for cattle.
HOUSTON – At 4 p.m. EDT today, Brad Burke, managing director of the Rice Alliance for Technology and Entrepreneurship along with members of the 2011 Rice Business Plan Competition winning team TNG Pharmaceuticals including Jenny Corbin, chief executive officer and her colleagues Larry Horn, chief operating officer; and founding company members Max Brudner and Cory Long presided over the NASDAQ OMX closing bell ceremony in New York City. The Rice University Business Competition is hosted by the Rice Alliance for Technology and Entrepreneurship and Jones Graduate School of Business at Rice University. TNG Pharmaceuticals is from the University of Louisville.
“Since winning the RBPC, TNG Pharmaceuticals has been on an amazing ride,” said Larry Horn, COO of TNG Pharmaceuticals. “We have taken our exciting academic project and have transitioned into commercializing our revolutionary vaccine. With the support of our family, friends, our community and the University of Louisville, we are excited about taking this journey forward. The opportunity to ring the closing at NASDAQ is truly a great honor and something the entire TNG team is proud to do.”
TNG Pharmaceuticals is developing a vaccine that will significantly reduce the horn fly population, a common pest to the 94 million cattle in the U.S. This revolutionary vaccine will increase fly control, beef production, milk yield, leather quality, and farmer efficiency, with an environmentally friendly impact.
TNG Pharmaceuticals bested 41 other business plan teams at the world’s richest and largest business plan competition, the Rice University Business Plan Competition, taking home nearly $650,000 in cash and prizes. When asked what the experience of winning the competition was like, Larry Horn said, "We knew going in that the RBPC was a prestigious and well-run event. What we realized by the first night was that the incredible contacts we made, regardless of the success we would have in the competition, made the event the most important we had attended. Fortunately, as our success mounted, we realized that the RBPC evolved into a defining moment for our company. We are eternally grateful for the opportunity that this competition has given TNG Pharmaceuticals."
Others at the closing ceremony included competition sponsors: Craig Richard, chief economic development officer of the Greater Houston Partnership; Jim Turley, CEO of Ernst and Young; John Beddow, publisher, Houston Business Journal; Katie Peterson of the Kauffman Foundation; Sal Gervasi and Alex Robinson of title sponsor, Insperity and the mayor of Louisville, Kentucky, Greg Fischer were in the studios to ring the bell. The NASDAQ OMX three-story billboard in Times Square heralded the event.
This is the fourth year that NASDAQ OMX has sponsored the Rice Business Plan Competition and TNG Pharmaceuticals is the fourth team to ring the bell. Representatives from NASDAQ OMX also judged the competition held April 14-16, 2011 at Rice University, Houston, TX.
Closing ceremonies took place at NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio on Friday, August 19, 2011 at 4:00 p.m. EDT