Spark Biomedical and Velentium made the list of honorees at the Houston Business Journal's 2021 Innovation Awards. The medtech companies were jointly honored for designing and manufacturing neurostimulation devices designed to help adults, children, and newborns safely recover from opioid addiction.
Spark is a Dallas, TX-based medtech company developing a drug-free, personalized, wearable solution for opioid withdrawal relief. Velentium is a professional engineering firm serving the medtech industry and specializing in the design and manufacturing of therapeutic and diagnostic medical devices. Velentium is also a Qmed qualified supplier.
FDA cleared The Sparrow Therapy System in January. The device is designed to be worn on and around the ear to aid in the relief of opioid withdrawal symptoms by delivering gentle electrical stimulation to cranial nerve branches that in turn drive endorphin release and reduce symptoms. In addition to The Sparrow Therapy System, which is indicated for adults, Spark has developed a similar system to aid infants born into Neonatal Opioid Withdrawal Syndrome. This system is currently in clinical trials and was recently awarded a breakthrough device designation by FDA.
“It is an absolute honor to be named Houston’s Most Innovative alongside Velentium,” said Daniel Powell, CEO of Spark Biomedical. “When the Spark team realized the pressing need to address the opioid epidemic, we came together with likeminded partners to identify a clear clinical pathway to bring this wearable neurostimulation device from concept to fruition.”
Beyond the technology, this innovation is unique because of the incredible, collaborative effort of two Houston, TX-based medtech companies. In partnership with Velentium, Spark leveraged decades of neurostimulation expertise, exploration, testing, and development to bring the power of neurostimulation out of the operating room and into a wearable format for patients overcoming opioid withdrawal.
“It is inspiring to witness how many innovative companies call Houston home,” said Dan Purvis, CEO of Velentium. “As technology evolves, so does our expansive partner ecosystem – a unique network driving the success and future prosperity of the medical device industry. It has been a privilege to advance wearable technologies and auricular neural work alongside Spark. We’d like to congratulate all honorees recognized at the third-annual Houston Business Journal Innovation Awards for elevating Houston’s world-changing contributions to innovation-focused industries.”
The Houston Business Journal's annual awards program recognized twenty pioneering companies across all industries. The distinction aims to showcase innovation implemented in the past 16 to 18 months. The event also celebrates the Houston Business Journal’s Fast 100 awards, recognizing Houston-area private companies with the fastest revenue growth over a two-year period. Following a tremendous period of growth, Velentium was named one of the 2021 Fast 100 finalists.