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Emerging Medical Innovation Valuation Competition
Tuesday, April 8, 2014, 4:00-5:30, Meridian Ballrooms 3 & 4, The Commons Hotel

Organizers:
Mike Finch, Acting Director, Medical Industry Leadership Institute Carlson School of Management, University of Minnesota
Randy Nelson, President, Evergreen Medical Technologies


The DMD Emerging Medical Innovation Valuation Competition is a way for researchers and inventors to get immediate feedback about their projects from leaders in medical technology research, engineering & development.

This competition is for inventors (including students, faculty, staff, and corporations) with ideas for new innovations in need of investor support to reach the next stage of development. Initial submissions should be no more than 10 slides and summarize the new medical innovation. Judges will review and choose the top 6 innovation summaries to give 8 minute presentations on Tuesday, April 8, 2014 during the Design of Medical Devices Conference. Final presentations should be composed of no more than 4 slides. Registration Required for participation in competition.

After finalists complete their pitches, faculty and fellows from the Medical Industry Valuation Laboratory will provide feedback and determine the top three innovation’s with the greatest return on investment and investment potential.

The Competition judges will base their decision upon four questions:

1) Can the technology be built and scaled to production?
2) Are the Intellectual Property and Regulatory approach reasonable?
3) Is a viable reimbursement strategy possible?
4) What is the potential scale of and timing for return on investment?

The top three presenters will be awarded a full valuation, including a presentation and report, of their technologies from the University of Minnesota’s Medical Industry Valuation Laboratory, (regular fee for this service is $15,000). Winners will be announced at the keynote luncheon on Wednesday, April 9, 2014.

More information on the Medical Industry Valuation Laboratory and the service can be found here.

If you have any questions please email MILIcomp@umn.edu.

 

2014 EMERGING MEDICAL INNOVATION VALUATION COMPETITION WINNERS

3rd Place: William Wustenberg, Biospheres, Inc.

"Reduction of Medical Implant Infections"

A method of preventing infections associated with medical device implants through a microparticle-mediated transient and tunable localized upregulation of the immune system.

 

2nd Place: Robert Brooks, Center for Image Guided Innovation and Therapeutic Intervention (CIGITI), Hospital for Sick Children

"Notes Closure of Esopogeal Punctures and Fistulas using Suction Countertraction and Nitinol Clips"

Natural orifice transluminal endoscopic surgery (NOTES) is a type of minimally invasive surgery where flexible surgical tools are inserted through the body’s natural openings; thereby, avoiding the incisions normally required in standard laparoscopic or open surgery and minimizing the risks of surgical site infection and scarring. In the esophagus, however, clips protrude from the organ wall and can obstruct flow, especially when multiple clips are used, and traditional forcep grippers are unable to safely exert enough force on the esophagus when pulling large punctures closed. A surgical tool was developed to integrate over existing endoscopes and apply suture-like, protrusionless nitinol clips with integrated high-force, low-trauma vacuum manipulation.

 

Grand Prize: Joshua Gafford, Harvard Biodesign Lab, Harvard University

"Smart Micro-Instruments for Advanced Intraluminal Interventions"

Deficiencies in current mechanical thrombectomy devices result in high complication and mortality rates for patients suffering acute ischemic stroke. Due to the characteristic sizes of neurological vessels, current thrombectomy devices are morphologically and functionally simple due to limitations inherent to conventional fabrication techniques, resulting in high incidence (40%) of further thromboembolic events. To design a more effective thrombectomy device and meet the demand for next-generation millimetric medical end-effectors for intraluminal surgical interventions, we are developing a versatile, scalable manufacturing process based on printed circuit board fabrication techniques. Direct integration of actuation and sensing modalities into millimeter-scale mechanical mechanisms will enable a new generation of 'smart' surgical tools that can recanalize an occluded artery while monitoring cutting forces for safe, discriminatory removal of occlusions for smarter, safer stroke intervention.

 

 

 

All Presenters and Presentation


"Notes Closure of Esopogeal Punctures and Fistulas using Suction Countertraction and Nitinol Clips"

Natural orifice transluminal endoscopic surgery (NOTES) is a type of minimally invasive surgery where flexible surgical tools are inserted through the body’s natural openings; thereby, avoiding the incisions normally required in standard laparoscopic or open surgery and minimizing the risks of surgical site infection and scarring. In the esophagus, however, clips protrude from the organ wall and can obstruct flow, especially when multiple clips are used, and traditional forcep grippers are unable to safely exert enough force on the esophagus when pulling large punctures closed. A surgical tool was developed to integrate over existing endoscopes and apply suture-like, protrusionless nitinol clips with integrated high-force, low-trauma vacuum manipulation.

Robert Brooks, Center for Image Guided Innovation and Therapeutic Intervention (CIGITI), Hospital for Sick Children
Robert Brooks is a mechanical engineering Ph.D. student at the Center for Image Guided Innovation and Therapeutic Intervention (CIGITI) at the Hospital for Sick Children and the University of Toronto and received his B.A.Sc. in Mechatronics Engineering from the University of Waterloo. His research focuses on the creation of novel surgical tools for minimally invasive and natural orifice surgery.


Coley Duncan, MMM Board certified in internal medicine and infectious diseases

Hospitalist working at Rochester General Hospital in Rochester, NY. On June 9, 2014 I will become the medical director of the hospitalist group at Covenant Medical Center in Lubbock, TX. I developed this technology while working as an infectious diseases specialist at the University of Rochester in Rochester, NY. I was frustrated caring for patients with driveline infections and wanted to see the driveline eliminated.


"Smart Micro-Instruments for Advanced Intraluminal Interventions"

Deficiencies in current mechanical thrombectomy devices result in high complication and mortality rates for patients suffering acute ischemic stroke. Due to the characteristic sizes of neurological vessels, current thrombectomy devices are morphologically and functionally simple due to limitations inherent to conventional fabrication techniques, resulting in high incidence (40%) of further thromboembolic events. To design a more effective thrombectomy device and meet the demand for next-generation millimetric medical end-effectors for intraluminal surgical interventions, we are developing a versatile, scalable manufacturing process based on printed circuit board fabrication techniques. Direct integration of actuation and sensing modalities into millimeter-scale mechanical mechanisms will enable a new generation of 'smart' surgical tools that can recanalize an occluded artery while monitoring cutting forces for safe, discriminatory removal of occlusions for smarter, safer stroke intervention.

Joshua Gafford, Harvard Biodesign Lab, Harvard University
Joshua Gafford is a mechanical engineering PhD student in the BioDesign Laboratory at Harvard University. His research focuses on advancing the manufacturing of millimeter-scaled medical devices with integrated sensing and actuation. He earned his MSME from Stanford University and his BSME from Massachusetts Institute of Technology.


“Soliving Surgical Complications with Non-resorbable Adhesion Barriers”

Sintact Medical Systems, LLC develops non-resorbable films that separate adjacent organs from adhering to each other after surgery. Adhesion development is a pervasive and common consequence following abdominopelvic or cardiac surgery (50-90% of allprocedures at risk). Complications from adhesions can often lead to significant pain, bowel obstruction, and infertility while adding $2-3 billion in US healthcare costs. Leading competitors achieve a 50% efficacy rate and cost >$200/film which result in a 7% accessible market penetration. Sintact Films are composed of an inert non-degradable biocompatible polymer (USP Class VI, ISO 10993). Pre-clinical in-vivo studies establish a strong value proposition with the Sintact Film achieving an 86% efficacy in adhesion reduction at $200/film (gross margin 91%). The current adhesion barrier market is estimated at $259 million (2011) with a growth rate of 7.2% through 2016 reaching a total of $318 million annually in the U.S.

Erik Robinson, Sintact Medical Systems, LLC
Erik Robinson PhD, is a cofounder of Sintact Medical and Director of Operations. He received a PhD in Mechanical Engineering in 2012 and an MS in Biotechnology (2007) at Northwestern University.  He holds certificates from the Kellogg School of Management, the Farley Center for Entrepreneurship, and the Center for Leadership at Northwestern University. He is also an alumnus of the NUvention Medical Entrepreneurship course.  Concurrent with his graduate studies he served 8 years in the Army Reserves as a non-commissioned officer.


"Reduction of Medical Implant Infections"

A method of preventing infections associated with medical device implants through a microparticle-mediated transient and tunable localized upregulation of the immune system.

William Wustenberg, Biospheres, Inc.
Dr. Wustenberg received his Doctor of Veterinary Medicine from Oregon and Washington State Universities.  Dr. Wustenberg is the President of Alternet Medical Consulting, a firm that has provided technical, regulatory and strategic managerial services to over 350 medical device manufactures throughout the United States and abroad.  D.r Wustenberg's technical background is primarily in the areas of biomaterials toxicology, preclinical and clinical device assessment and regulatory affairs.


Competition Judges

Mike Finch, Acting Director, Medical Industry Leadership Institute Carlson School of Management, University of Minnesota

Karen Kaehler, Technology Strategy Manager - Life Sciences, Office for Technology Commercialization, University of Minnesota

Paul Gam, Co-founder and CEO, Zurich Medical

Randy Nelson, President, Evergreen Medical Technologies, Adjunct Instructor, Medical Industry Leadership Institute


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