It’s down to just four companies in the 2017 MedTech Innovator $500K Competition, whittled down from a field of almost 600 companies. The finalists, which emerged from the 20-company MedTech Innovator Accelerator, will vie for the top prize next week.
Representatives from each company will pitch to an audience and judging panel during a session at The MedTech Conference in San Jose, CA on September 26. The panel of judges, which includes leaders from Johnson & Johnson, Baxter Ventures, Becton Dickinson, and Kaiser Permanente Ventures, will ask questions before the session audience casts their votes.
The medical technology company that claims the top spot will win a $350,000 cash prize and the other three finalists will secure smaller cash prizes, according to a press release about the finalists.
Abreos Biosciences, a San Diego company, has developed its Veritope platform of laboratory and point-of-care tests to help clinicians determine personalized dosing recommendations for biologics. The Veritopes are expected to be commercialized as CLIA laboratory-developed tests.
Allotrope Medical wants to prevent ureter injuries during abdominal and pelvic surgeries. The Houston, TX-based company has developed a single-use handheld device that uses electrical stimulation to identify the ureter during a surgical procedure. The company’s current timeline anticipates commercialization in the first quarter of 2019.
The problem of antibiotic-resistant infections is growing, and Day Zero Diagnostics wants to solve one major piece of the problem. The Boston-area company is creating a diagnostic test based on whole genome sequencing that could determine the strain of bacteria causing an infection and that bacteria’s antibiotic resistance profile within hours, instead of days.
Dublin, Ireland-based Selio Medical is working to prevent pneumothorax—a collapsed lung—a surprisingly common adverse event linked to the lung biopsies needed to diagnose lung cancer. The Selio single-use device creates an airtight seal for the biopsy needle. The company anticipates a pre-submission meeting with FDA in the first quarter of next year and hopes to start a first-in-human study in the third quarter of 2018.
“In five years of the MedTech Innovator competition, we’ve never had a tougher time deciding the four companies that would go on to the finals, and the audience at The MedTech Conference is going to be equally impressed,” Paul Grand, MedTech Innovator CEO, said in a press release. “Regardless of who wins, I can’t wait to see these technologies in the hands of physicians, improving the lives of patients around the world.”