Stem Cell Team from Carnegie Mellon Takes Top Prize in 25th Moot Corp

May 5, 2008

AUSTIN, Texas — A company looking to become the market leader in adult (non-embryonic) stem cell storage claimed the grand prize on May 3 at the 25th Global Moot Corp Competition at The University of Texas at Austin.

NeuroBank, from Carnegie Mellon University, beat out 37 teams from top Master of Business Administration (MBA) programs around the world to win the Global Champion prize. The company has developed a breakthrough proprietary technology for minimally invasive extraction, isolation, expansion and cryopreservation of adult neural stem cells.

NeuroBank will receive a package worth $100,000, which consists of a $25,000 cash prize, access to the McCombs School of Business entrepreneurial faculty to aid in fund raising from institutional sources, the Austin Technology Incubator Launch Package (including office space, legal and accounting services), the opportunity to open the NASDAQ Stock Market Aug. 15 and the prosecution of the first American patent by Ropes & Gray.

Learn more about Moot Corp and this year's participants.

Started at The University of Texas at Austin by MBA students in 1984, the Moot Corp competition is the oldest and largest new venture competition in the world. Often referred to as the "Super Bowl of world business plan competitions," it provides MBA student teams with a chance to simulate the process of raising venture capital.

For more information, contact: Rob Meyer, McCombs School of Business; Moot Corp: Rob Adams, 512-633-5955; NeuroBank: Raymond Sekula, 412-725-5500.