Herald Therapeutics Awarded Second Place in Division at 2025 MN Cup
MINNEAPOLIS, MN – Herald Therapeutics, Inc., a clinical-stage biopharmaceutical company today announced being awarded second place in the Life Science/HealthIT division at the 2025 MN Cup competition. Herald Therapeutics is developing ThyrOxy, a thyroid hormone–based therapeutic platform for life-threatening lung and cardiac diseases. The entire competition ran from April through September. From the 144 Life Science/HealthIT companies that began the competition, 27 were selected for the quarterfinals, 10 for the semifinals, and three companies for the finale. Herald was awarded runner-up.
David H. Ingbar, MD, Chief Scientific Officer, stated, “MN Cup provided an outstanding process for advancing from drug research to drug development stage. We are now ready to partner with venture capital to bring ThyrOxy to commercialization, and eventually to the bedside for patients.” Robert J. Schumacher, PhD, Chief Research & Development Officer, stated, “MN Cup provided a very valuable opportunity to take our deep research and translate it to a pitch deck and presentation for an audience of VC’s, and industry leaders.” Timothy P. Rich, MD, Chief Medical Officer, stated, “Science interfacing with commercial industry is the only way to bring novel therapies to market as quickly as possible. Therein lies the hope for patients and their families.”
About MN Cup
The MN Cup is the nation’s largest statewide startup competition, hosted by the University of Minnesota’s Carlson School of Management to support emerging Minnesota entrepreneurs. It provides mentorship, education, and over $400,000 in seed capital across nine industry divisions to accelerate new ventures, with no equity taken. MN Cup supports Minnesota entrepreneurs by providing tools, resources, and connections to launch new ventures. The companies must be Minnesota-based startups with less than $1 million in annual revenue. MN Cup is an annual competition with nine divisions (e.g., High Tech, Life Science/HealthIT, Food/Ag/Beverage) that runs from spring through a September finale. Participants gain access to mentors, free workshops, business plan feedback, and media exposure. Since MN Cup was founded in 2005, the competition has helped participants raise over $1.1 billion in capital.
Addressing a High-Mortality Condition with No Approved Therapy
Acute Respiratory Distress Syndrome (ARDS) remains a high-mortality condition with no approved disease-modifying therapy and a long-standing area of significant unmet need in critical care medicine. Herald’s scientific co-founders previously reported the first-in-human instillation of thyroid hormone into the lungs of a patient with ARDS, work that informed the methodology now protected by the issued patent. The company is advancing ThyrOxy toward pivotal clinical development in ARDS, with platform extension into IRDS and heart failure under active scientific evaluation.
About ThyrOxy
ThyrOxy™ is Herald Therapeutics’ proprietary thyroid hormone–based therapeutic platform, designed to address the fundamental biology of acute lung injury. In addition to its lead indication in ARDS, ThyrOxy is being advanced in Infant Respiratory Distress Syndrome (IRDS) and Acute Heart Failure. ThyrOxy was originally developed at the University of Minnesota and is exclusively licensed to Herald Therapeutics.
About Herald Therapeutics
Herald Therapeutics, Inc. is a clinical-stage biopharmaceutical company headquartered in Minneapolis, Minnesota, developing ThyrOxy, a thyroid hormone–based therapeutic platform targeting life-threatening lung and cardiac diseases. The company’s lead programs are in Acute Respiratory Distress Syndrome (ARDS), Infant Respiratory Distress Syndrome (IRDS), and Acute Heart Failure. For more information, please visit heraldtx.com.
Investor & Media Contact
Wade A. Smith, CEO
Herald Therapeutics, Inc.
wsmith@heraldtx.com | 412-216-9988