Medical Device Industry Presents Latest Technologies to Investors; Senator Scott Brown Kicks Off Event
Cutting-Edge Technologies Include a Treatment for Wound Healing, Tissue Regeneration and an Organ Preservation and Transport Device for Donor Organs
BOSTON, MASS. (October 8, 2010) – Representatives from 16 of the region’s emerging medical device companies convened at UMass Boston today to present their cutting-edge technologies to venture capitalists and medical device business leaders. In addition to 10-minute presentations by each company, the day-long program included overviews of the state of medtech innovation and investment trends within the industry.
Among the range of new technologies showcased were a device to promote better and faster wound healing, a new approach to the preservation and transport of donor organs, and tissue regenerating scaffolding technology used for orthopedic applications.
“The New England medtech industry continues to grow and move forward,” said Tom Sommer, President of MassMEDIC. “These new companies are more proof of the optimism and growth of the sector, and its ability to be an integral part of leading the region out of the recession.”
The conference also featured an update on the state of the device and diagnostics industry by Mark S. Speers, partner and managing director of Health Advances, the economic outlook of the region’s medtech sector by Javier Jimenez, a partner with Tatum LLC, and an analysis and discussion about medtech investment trends by Kevin Burney, a partner with PriceWaterhouseCoopers.
The 12th Annual MassMEDIC MedTech Investors Conference started with a presentation by U.S. Senator Scott Brown, who provided his perspectives on the economy, job growth and his work in the U.S. Senate.
Massachusetts is home to the nation’s second largest concentration of medical device manufacturing and development, with more than 225 manufacturers, 50,000 employees in manufacturing, development and related industries, annual shipments of $5.5 billion, and exports totaling $2.4 billion.
Some of the technologies presented at the event included:
- Tissue engineering scaffolds for orthopedics: Bio2 Technologies of Woburn, Massachusetts, has developed two regenerative medical products, Bio-inert and Bio-active, for use in the restoration, repair or replacement of bone tissue. Innovations include more complete incorporation into the body, and stiffness and stress shielding are minimized to allow the healing bone to be exercised.
- Treatment of chronic wounds: Perfuzia Medical, Inc. of Providence, Rhode Island, has developed ActiveFlow™, a novel device for the treatment of wounds such as diabetes foot ulcers, burns and bedsores. The device is engineered to improve wound healing by increasing blood flow and tissue oxygenation locally and 100% non-invasively by means of precise, subtle vibratory stimulation.
- Organ preservation and transport: Paragonix Technologies, Inc. of Cambridge, Massachusetts has developed a new approach to preserving and transporting donor organs. The device improves the quality of the organ, thereby patient outcomes, reduces transplant-related costs, expands the donor pool, and extends the time window between organ recovery and transplantation.
The following companies and organizations presented their technologies and business plans at the conference:
- Aura Medsystems (Lowell, MA)
- Bio2 Technologies (Woburn, MA)
- EndoSphere Surgical, Inc. (Brookline, MA)
- gRadiant Research (Concord, MA)
- Hygieia, Inc. (Ann Arbor, MI)
- ICET, Inc. (Norwood, MA)
- Linked Medical (Boston, MA)
- LLTech (Princeton, NJ)
- Mindful Scientific (Halifax, NS)
- MiraDX (New Haven, CT)
- MoMelan Technologies (Cambridge, MA)
- Newton Photonics (Newton, MA)
- Paragonix Technologies, Inc. (Cambridge, MA)
- Perfuzia Medical Inc. (Providence, RI)
- Photo Diagnostics Systems (Boxboro, MA)
- Velico Medical, Inc. (Beverly, MA)
MassMEDIC’s MedTech Investors Conference has become a seminal event for the industry, drawing more than 400 attendees from the sector’s financing, consulting and manufacturing sectors. More than 230 innovative medical technology ideas have been presented at the Conference, with many presenting companies finding funding or acquisition opportunities at the event.