2009 MedVentures finalists/presenters - top row from
the left: Mark Eaton (Stellarray), Frank McEachern
(Microtransponder), Susanne Richard (Traumatec), bottom row:
Eran Bashan (Hygieia), Patrick Kelly (Sironics) & Clark
Terrill (MDConnection).
What a year it has been for these 6 companies! In
total, they raised almost $15 million dollars between last
summer and today. This is especially remarkable since all but one
of these have no revenue yet. Pre-revenue companies have had a
particularly tough time raising funds in this economy. We
believe this is a strong testament to the quality of the
presenting companies. It is a sign of the times that almost half of
this money was raised through successful grant writing and
partnerships that allow these companies to move forward with their
research and development without diluting their existing
shareholders. Additionally, two of these companies,
Microtransponder and Stellarray, are also ETF recipients.
Several, including Traumatec and Stellarray are actually
fundraising again, or are in due diligence for another round. Among
the many accomplishments that are of note for these companies
are:
- Hygieia received 510 (k) clearance for their glucose
monitoring platform, and launched a third clinical trial after
successful completion of #2;
- Microtransponder's issuance of a critical patent to their
technology as well as significant grant & angel funding;
- Stellarray's successful grant issuances, prototype of a blood
transfusion irradiator and R&D contract to work on a wastewater
treatment solution;
- MDConnection's 1st million of revenue;
- Sironics completed the production prototype;
- Traumatec is continuing their major Baylor study and
is getting ready to participate in three new device
studies dealing with traumatic brain injury, stroke
and emergency rescue respectively.
We are experiencing a significant increase in interest to
present at this year's conference and have increased the presenting
spots to 8, with a possibility to go up to 10. We know that it
will be tough for our committee to pick the winners out of this
competitive crowd this year. 2009 was a record year for the NTEC
team, with an all time high of over 150 business plans reviewed.
Entrepreneurs continue to inspire us and reaffirm that NTEC's
services can play a critical role in their successes. We
hope that this year's presenters will do as well as last year's
group did in the world of fundraising and post-conference success
and wish our last year's presenters all the best for 2010.
Presenting company application deadline is 5/31/2010. No cost to
apply.
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Application Guidelines:
/media/11290/medventures%202010%20presenting%20company%20application%20guidelines.pdf
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MedVentures 2010 Information: /medventures2010
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Video of MedVentures 2009: http://www.youtube.com/watch?v=YIYfaZ2S3SE