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2019 Medtech Startup Showdown

These medtech startups are facing off to see which has what it takes to make it in the industry. Vote for your favorite!

  • In March we opened up entries for MD+DI's fifth Medtech Startup Showdown tournament, where medical device startups compete head to head to determine which has what it takes to succeed in the industry. Unfortunately, we did not receive enough entries this year to hold a bracket-style competition as we have in years past. However, we would still like to have the entries that we did receive compete in a different way. The following slides provide information about each company that entered by the deadline. There is a survey at the end to vote for your favorite! 

    Voting deadline: Friday, May 24

  • Company name: Avancen MOD Corporation

    Website: www.avancen.com

    What is your product and how will it benefit healthcare?

    The wireless MOD device is a bedside, patient-controlled, oral PCA device locked to an IV pole. Each MOD is linked by an RFID wristband to only one patient for access to medication. Following a lockout interval in hours, the patient can enter their pain score to trigger a release of a single dose of medication, remove, and self-administer the medication. Within one hour the device prompts the patient to enter a reassessment pain score. The frequency of allowed as-needed (PRN) delivery intervals are from clinician-driven patient orders. All data on the therapy, pain scores, drug, dose, and times of delivery are displayed in table and graphic formats. Data may be integrated into the electronic medical record over an institution’s secure wireless network. It provides better pain management, increased patient satisfaction, and saves nurses time by as much as three hours per shift in post-operative acute care hospital units.

    How does your product differ from the competition?

    It automates the delivery of oral opioids which is now recommended over intravenous opioids post-surgery. There is no other oral PCA device with FDA approval or clearance and in hospital use today.

    Do you have customers yet?

    Yes, we are in daily use in several acute care hospitals in both orthopedic and obgyn post-surgical units.

    How much money have you raised?

    Over $6 million

    Who are your investors?

    A mix of accredited angel investors and small institutional investors.

    What is the next milestone for your device?

    Marketing and sales on a national and international basis.

  • Company name: GT Medical Technologies Inc.

    Website: https://www.gtmedtech.com

    What is your product and how will it benefit healthcare?

    GammaTile Therapy is a small collagen “tile” with precisely embedded radioactive seeds that can deliver treatment where residual tumor cells are most likely to be, without undue radiation exposure elsewhere. As a result of this innovative approach to treating brain tumors, patients have seen extended median survival times for all tumor types, including highly aggressive glioblastomas. It is important to note that in addition to superior patient outcomes, patients’ quality-of-life is also significantly improved. This therapy results in fewer side effects compared to the current standard of care. By getting a head start on fighting the tumor, resection plus GammaTile Therapy extends local recurrence-free survival with minimal complications, reduced patient burden, and assured compliance.

    How does your product differ from the competition?

    The current standard of care is EBRT (external beam radiation therapy), in which treatment with radiation beams is delivered from outside the body inward a few weeks after surgery, often requiring outpatient radiation treatments 5 times a week for up to six weeks. GammaTile Therapy is targeted and delivered directly to the tumor site at the time of resection, so that patients receive radiation only where it is needed. This helps protect healthy brain tissue, and patients may receive a lower overall level of radiation exposure to the normal tissue. Additionally, the radiation begins preventing cell replication immediately at the time of surgery and patients do not have to return to the hospital repeatedly for radiation treatments.

    Do you have customers yet?

    Yes, our first case was completed in January by Clark Chen, MD, at the University of Minnesota

    How much money have you raised?

    $13 million

    Who are your investors?

    Our institutional investors are MedTech Venture Partners, BlueStone Venture Partners, Arizona Technology Investors, and Desert Angels.

    What is the next milestone for your device?

    The next milestone is expanding our indications for use to include initial treatment of intracranial neoplasms (brain tumors), which will more than double the potential patient population for the device in the United States.

  • Company name: Niraxx Light Therapeutics

    Website: niraxx.com

    What is your product and how will it benefit healthcare?

    The Niraxx Smart Headband is a wearable, bio-stimulation device featuring dual-frequency low-level light therapy designed to activate your brain’s natural calming and regenerative processes. Built with near-infrared LED light modules, the headband emits light into key areas of the brain to improve brain health and cognitive function. Pulsing parameters of 10 Hz and 40 Hz are designed to resonate with the brain’s alpha and gamma rhythms. The Bluetooth-connected Smart Headband is controlled by the Niraxx Life app, which allows users to customize their sessions towards their individual wellness goals including finding focus, increasing energy, and reducing stress . Niraxx offers a new option for those looking for help in dealing with the daily stresses of life.

    How does your product differ from the competition?

    With data from years of research and science of photobiomodulation, Niraxx offers a non-pharmacological solution for those who are looking for a cognitive boost or help in reaching a calm and relaxed state. Niraxx uses proprietary technology in its circuitry. For the first time, this technology is available in a comfortable, easy to wear, at home or on-the-go fabric solution.

    Do you have customers yet?

    Over 15,000 people have signed up to join our early community. Pre-orders from our future beta users have been placed through our social media campaigns. Product will be delivered during the fourth-quarter of 2019.

    How much money have you raised?

    $1.2 million

    Who are your investors?

    Private investors

    What is the next milestone for your device?

    Niraxx intends to pursue FDA approval for the second generation of the Smart Headband called the Niraxx Smart Headband V2. This V2 model will have EEG sensors for machine deep-learning and identifying the brain’s biomarkers. With this data, the Smart Headband V2 will integrate a closed-loop algorithm for personalized treatment for depression after FDA approval.

  • Company name: Brain Temp Inc.

    Website: N/A

    What is your product and how will it benefit healthcare?

    Our passive, continuous, non-invasive brain temperature device will allow clinical teams to better define disease state and treatment protocols for patients suffering from hypoxic-ischemic encephalopathy, traumatic brain injury, stroke, and sepsis. Brain Temperature will become a new vital sign.

    How does your product differ from the competition?

    The BTI system is the only passive, non-invasive technology that allows for direct measurement of the temperature of the brain at a depth of 1.5-4 cm.

    Do you have customers yet?

    No

    How much money have you raised?

    $2 million

    Who are your investors?

    Private individuals

    What is the next milestone for your device?

    FDA submission in the second quarter of 2019

  • Company name: waittimes.me

    Website: waittimes.me

    What is your product and how will it benefit healthcare? 

    An app that allows patients to determine wait times and times to get an appointment at hospitals, labs, and physician offices. Data obtained via the app is accumulated and sold to healthcare networks, insurance firms, and government agencies such as the VA to improve the quality of care.

    How does your product differ from the competition?

    Provides feedback to users on the quality of care, allows selection of providers based on wait times and appointment time availability.

    Do you have customers yet?

    No, the app is in the development stage.

    How much money have you raised?

    $10,000

    Who are your investors?

    Keith Edwards

    What is the next milestone for your device?

    Raising $10 million and making the app functional.

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