M2D2 in partnership with their sponsors Nutter McClennen & Fish LLP and Smith & Nephew is hosting a medical device startup competition that will find Massachusetts' best new medical device ventures - and award thousands of dollars worth of services.
M2D2 is pleased to announce the M2D2 New Venture Competition 2014 to showcase the innovative developments of early-stage medical device companies. Companies will compete for $50,000 of services from M2D2, Nutter McClennen & Fish LLP, and Smith & Nephew, Inc. See below for description of services.
Who is Eligible
The Massachusetts Medical Device Development Center - M2D2 New
Venture Competition is open to medical device technology-based startup
businesses. Companies developing devices which could impact Orthopedic
Reconstruction, Sports Medicine, and Trauma are particularly encouraged to apply.
The venture must involve the development of a new medical device. Companies
need not be based in Massachusetts to be eligible.
Competition Details and Deadlines
A total of $25,000 in M2D2 Services will be awarded, including:
Product Development (prototyping, etc.)
Business Development (business plans, market development, etc.)
Medical Development (clinician consultation, animal trials, etc.)
M2D2 Laboratory Space
A total of $15,000 in Legal Services from Nutter McClennen & Fish LLP
A total of $10,000 in services from Smith & Nephew, Inc.
Entry Fees - Apply early to receive discounted application fees:
By January 31, 2014: $25
By February 10, 2014: $50
For full contest details, including application please contact Mary Ann Picard by email at firstname.lastname@example.org or by phone at 978-934-3465. Check back again or check our website at www.uml.edu/M2D2 as we will be adding further information regarding the M2D2 New Venture Competition in the coming week!
LOWELL, Mass., Jan. 8, 2014 /PRNewswire/ -- InfoBionic™, an emerging digital health company focused on creating superior patient monitoring solutions for chronic disease management, today announced receipt of CE Mark for the MoMe™ System for cardiac arrhythmia monitoring. The MoMe System is the first universal remote patient monitoring platform with seamless transition between Holter, Event, and Mobile Cardiac Telemetry (MCT) modes. The innovative platform, which leverages Cloud computing and proprietary analytics, is poised to revolutionize the $3B worldwide cardiac monitoring market by delivering on-demand access to patient data for diagnosis.
The MoMe System draws on the recent convergence of medical devices, database analytics, new sensors, and wireless protocols to provide a universal patient monitoring platform complete with real-time, high-quality patient data for improved arrhythmia detection.
"Existing cardiac patient monitoring systems have significant limitations, including poor data quality and limited data availability," stated Liviu Klein, M.D., UCSF Heart and Vascular Center. "The MoMe System provides high-quality data and real-time rhythm history as well as activity, respiration and symptom tracking that allows me to make a fast, accurate, timely and efficient medical diagnosis."
Nancy Briefs, Chief Executive Officer, commented, "We are pleased to receive CE Mark for the MoMe System. We believe the system will transform the arrhythmia monitoring market by offering superior arrhythmia detection and favorable physician practice economics. We look forward to commercializing our first product for cardiac arrhythmia monitoring in early 2014."
InfoBionic™ Inc., an emerging digital health company is dedicated to transforming healthcare delivery by providing anywhere, anytime access to cardiac event monitoring with improved event detection and clinical efficacy through a lower cost business model. The MoMe™ System offers superior remote patient monitoring for chronic diseases with an initial market focus on cardiac arrhythmias.
For more information please visit www.infobionic.com.
SOURCE InfoBionic Inc.
Smith & Nephew (NYSE:SNN;LSE:SN), the global medical technology business, is proud to announce it will co-sponsor the 2014 Massachusetts Medical Device Development (M2D2) Center’s New Venture Competition. Designed to showcase innovative ideas coming out of early-stage medical device companies, the nationwide competition this year will focus on Joint Reconstruction, Sports Medicine, and Trauma.
The prizes will total $50,000 of in-kind services including facilities, engineering, legal, business and medical device assistance from Smith & Nephew and the competition co-sponsors, Nutter McClennen & Fish LLP and M2D2, a joint initiative of the University of Massachusetts’ Lowell and Worcester campuses.
“We’re excited about this collaboration,” explains Dr. Ruth Cheng, Director of Innovation for Smith & Nephew. “Not only does it build on our reputation as innovation leaders; it helps us foster relationships with those entrepreneurs who are on the cutting edge of the growth areas we target.”
“M2D2 is grateful for the Smith & Nephew’s support for the New Venture Competition and entrepreneurs and startups in the medical-device sector,” said Steven Tello, UMass Lowell’s associate vice chancellor for entrepreneurship and economic development. “We are honored to work with a company that exemplifies success in the industry in Massachusetts and around the globe.”
For the competition, Smith & Nephew has identified five areas where innovation will help address current and future needs in orthopaedic reconstruction, sports medicine, and trauma:
- Tools which enable procedure simplification: Solutions would reduce procedural steps, shorten overall procedure time, provide surgeons with greater confidence, and/or ensure consistency from procedure to procedure.
- Tissue sparing procedures: Solutions would shorten recovery time, decrease the incision/number of portals, and/or reduce bone removal/soft tissue damage, and/or minimize potential for human error.
- Stabilization of and integration/fixation to bone: Solutions would provide high fixation strength both immediately and long-term, and work regardless of bone density.
- Novel soft tissue repair: Solutions would provide or restore the alignment and functionality of the target tissue immediately and long term, and be minimally invasive.
- Joint preservation solutions: Solutions would provide effective protection of joints, and be minimally invasive. Solution can be either short-term or long-term/permanent. Early intervention solutions preferred.
All applicants must submit an initial application which will be reviewed by M2D2. Fifteen finalists will then be invited to present their concepts in-person at a public event at M2D2’s offices on March 26, 2014.
For more information on the competition and how to apply, companies should visit www.uml.edu/M2D2.
Eastern Bank is the corporate sponsor for a year-long series of “Shark Tank” medical device venture pitch events. The most recent one took place on Wednesday, October 30th in the board room at M2D2’s innovation hub in front of a full audience. From a field of over 20 Massachusetts medical device start-up company applicants, 5 were chosen to make presentations to the panel.
Panelists were angel investors from Boston Harbor Angels and from Mass Medical Angels. Pitching their medical device inventions were Frederic Bourgeois from Nanopulse Biosciences, Bob Thompson from Vista Scientific, Donna Brezinski from Little Sparrow Technologies, Mark Mendel from Flow Forward Medical, and Jeff d’Agostino from 206 Ortho.
In addition to drilling the presenters on their anticipated funding needs, the investors also asked tough questions about the medical significance of their inventions, details about their business models, and status of their intellectual property.
The next event in the venture pitch series is expected to take place in January 2014.