BOSTON, MASS. – Nearly 350 medtech investors and medical device business leaders convened at UMass Boston today as 23 of the area’s emerging medtech companies presentedtheir cutting-edge technologies and business plans to an audience of start-up funders and venture capital firms. In addition to the 10-minute presentations by each company, the day-long programincluded a panel discussion and talks surrounding the state of medtech innovation and investment trends.
The 13th Annual Massachusetts Medical Device Industry Council (MassMEDIC) MedTech Investors Conference featured a range of new technologies such as a wearable deep pressure wearable vest tohelp people with autism, ADHD and anxiety disorders; a localized drug delivery device to prevent the recurrence of cancer post surgery; and an antibacterial tube coating process that reduces health care associated infections.
“The recent Tatum Economic Climate Survey showed a boost in activity in the medtech industry over the last year, including a 10 percent increase in capital expenditures and a nearly 20 percent increase in hires,” said Tom Sommer, President of MassMEDIC. “The number of companies that were looking to present today as well as the incredibly innovative technologies showcased, further validates the survey and the industry’s commitment to continue to develop treatments that can profoundly impact people’s quality of life.”
The MassMEDIC conference attendees also heard an analysis of the challenges facing medical devicecompanies seeking venture capital funds by John Westwood of L.E.K.Consulting. Westwood noted, “Both the proposed medical device tax and possible changes in FDA regulations could have a negative impact on VC activity in the sector.” Cam Neely, president of the Boston Bruins, also gave remarks on “Assembling a Winning Team.”
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:
Deep pressure vest helps people with autism, ADHD and anxiety based disorders:
Developed by Amherst, Mass.-based Therapeutic Systems, LLC, the Vayu Deep Pressure Vest is a non-invasive, non-pharmacological wearable vest which discreetly provides personalized deep pressure to the wearer. Deep pressure, a form of sensory input – like a firm hug or swaddling a baby – is commonly used to help self soothe, ground, and facilitate self organization in people with autism, and can lead to the reduction of anxiety facilitating better focus, function and interaction.
Localized drug delivery device aims to prevent post-surgery cancer recurrence:
AcuityBio Corporation of Newton, Mass. has developed ABC Polymer™, a unique and simple to use drug-eluting implant that reduces the incidence of locoregional lung cancer recurrence post surgery by locally delivering therapeutic levels of drug to the site of disease over several months.
Antibacterial coating to reduce healthcare-associated infections:
Axena Technologies of Providence, Rhode Island, has developed SeCure™, an antibacterial coating for medical tubing six times more effective at reducing bacterial growth than the current industry standard for antibacterial coatings.
The following companies and organizations presented at the conference:
MassMEDIC’s MedTech Investors Conference has become a seminal event for the industry, drawing more than 350attendees from the sector’s financing, consulting and manufacturing sectors. More than 250 innovative medical technology ideas have been presented at the Conference, with many presenting companies finding funding or acquisition opportunities at the event.