Green Sun Medical awarded $50K for scoliosis brace at prestigious pediatric medical device competition

2017 Rosenman Innovator Green Sun Medical was awarded the top cash prize of $50,000 during the FDA-sponsored pediatric medical device competition at the Fifth Annual Pediatric Device Innovation Symposium in San Jose, Calif. organized by the Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National Health System.

Green Sun Medical is developing a dynamic scoliosis brace that will allow physicians to remotely monitor the performance on the patients.

“We are honored to have our scoliosis brace recognized with these other pediatric device innovations,” said Jamie Haggard, CEO of Green Sun Medical.  He also said that current treatments include braces developed over 40 years ago and spinal fusion surgeries.

Read the full story at OrthoSpineNews

Channel Medsystems® Secures $14.1M Financing

Congratulations to Rosenman Fellow Bill Malecki, co-founder, COO, and CTO of Channel Medsystems!

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EMERYVILLE, Calif., Aug. 23, 2017 /PRNewswire/ -- Channel Medsystems, developer of an innovative, physician office-based therapy for heavy menstrual bleeding, announced today that it has secured a $14.1mm Series C-1 financing.  The insider-led round included participation by Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development, Longwood Fund, and Boston Scientific.

Channel Medsystems has developed the Cerene® Cryotherapy Device to treat heavy menstrual bleeding.  Cerene allows women who are finished with childbearing to receive treatment in their gynecologist's office, a more comfortable and less-expensive setting of care than a hospital or surgery center. The Company plans to use this funding to support initiatives leading up to anticipated FDA approval as well as initial preparation for commercial launch.

Read the full press release

Announcing the 2017 Rosenman Innovators

Blumio founder and CEO Catherine Liao.

Blumio founder and CEO Catherine Liao.

We're proud to announce the 2017 cohort of Rosenman Innovators, some of the most promising medtech startups in the San Francisco Bay Area: AesculaTech, Blumio, DeviceFarm, Gravitas Medical, Green Sun Medical, Intelligent Implants, Raydiant Oximetry, Siris Medical, Zenflow, and Zeto.

The Innovators are a group of dynamic startups with the potential to grow and rapidly commercialize medical device technologies that will deliver significant benefits to doctors and patients. A panel of judges including Rosenman Fellows chose the Innovators from more than 80 applicants.

At the Rosenman Symposium, Wednesday, June 21, at UCSF Mission Bay, the Innovators gave lightning pitches to a packed Byers Auditorium. Earlier in the day, in an extended session, they had presented to a private group of industry partners and accredited investors.

(L-R)Top: Jeffrey Roe, DeviceFarm;  Andrew Bartynski, AesculaTech. Middle: Neil Ray, Raydiant Oximetry; Colin Carpenter, Siris Medical; Nicole Hlava, Raydiant Oximetry; Jamie Haggard, Green Sun Medical; Zoltan Nadasdy, Zeto. Bottom: Catherine Liao, Blumio; Christine Winoto, Rosenman Institute/QB3; Aswin Gunasekar, Zeto; Saheel Sutaria, Gravitas Medical; Niki Bayat, AesculaTech. Missing from photo: Rory Murphy, Intelligent Implants; Nick Damiano, Zenflow

(L-R)Top: Jeffrey Roe, DeviceFarm;  Andrew Bartynski, AesculaTech.

Middle: Neil Ray, Raydiant Oximetry; Colin Carpenter, Siris Medical; Nicole Hlava, Raydiant Oximetry; Jamie Haggard, Green Sun Medical; Zoltan Nadasdy, Zeto.

Bottom: Catherine Liao, Blumio; Christine Winoto, Rosenman Institute/QB3; Aswin Gunasekar, Zeto; Saheel Sutaria, Gravitas Medical; Niki Bayat, AesculaTech.

Missing from photo: Rory Murphy, Intelligent Implants; Nick Damiano, Zenflow

The Innovators represent a wide range of technologies, include implants, orthotics, fetal monitoring, and machine-learning software for cancer diagnosis.

Innovator founders received professional coaching on business model and presentation. At the culminating event, the Innovators were introduced to industry partners who could join forces--share resources and expertise--on technologies of mutual interest--and investors (in some cases, venture arms of industry partners) who could provide mentorship and further valuable introductions in addition to funding for operations.

In-kind services for the 2017 Rosenman Innovators were provided by BioSurg (support with animal protocol and animal facility time); IO LifeScience (design & engineering consultation, prototyping); NextFlex (prototyping & pilot manufacturing, flexible electronics); Propel(x) (exposure to early-stage investors); ProtoQuick (design consultation, CNC, injection molding); and Whipsaw (design & engineering consultation).

Learn about company details

Velano Vascular Raises $17 Million to Advance Standard of Care for Blood Draws

Congratulations to Velano on a truly impressive early round of funding to advance its technology.

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Velano Vascular announced today that it has secured $17 million in financing, which will be used to scale and commercialize a family of vascular access technologies, including the PIVO™ needle-free device that seeks to improve the overall blood draw experience for patients and practitioners.

A publicly traded healthcare company and a global supplier join existing investors First Round Capital, Griffin Hospital, Kapor Capital, Safeguard Scientifics, Sutter Health, The Children’s Hospital of Philadelphia, White Owl Capital, and a number of health-industry veterans in supporting Velano Vascular’s mission to reduce the pain, risk, and inefficiencies of vascular access and blood collection practices.

“This level of investment is a tremendous validation of our team’s effort to establish a true, more compassionate standard of care,” said Velano Vascular CEO Eric M. Stone. “Tens of thousands of PIVO draws across multiple health systems in the U.S. and overseas reflect that there is a better, more efficient way to draw blood. This funding will allow us to meet the growing commercial demand and to touch millions of lives in the years ahead.”

Hospital inpatient blood draws are one of the world’s most common invasive medical procedures, with an estimated 1 billion occurring globally every year and more than 400 million in U.S. hospitals alone. Hospitals use of needles and central line access for blood collection can create unnecessary pain and anxiety for patients, the potential for patient harm, and the possibility of practitioner injury. These challenges are further complicated by the immense inefficiencies associated with collecting laboratory samples in the rising population of the estimated 30% of DVA (Difficult Venous Access) patients, due in part to the increasing prevalence of obesity, aging and chronic illness.

“Our ongoing investments in Velano are driven by our belief that this revolutionary technology addresses a significant unmet need supported by mounting market demand,” said David Mars, Managing Director of early Velano investor White Owl Capital. “It also provides a rare opportunity to work with an inspiring team of patient-centered innovators and a company that will positively impact millions of patients and caregivers around the world.”

PIVO is a single-use, disposable device that enables high quality blood samples via indwelling peripheral IV lines, supporting hospitals’ reduced reliance on repeat needle sticks and central line access for blood collection. PIVO seeks to provide a more compassionate care experience for patients, a safer environment for practitioners, and a more financially responsible alternative for health systems.

FDA OKs Velano Vascular’s next-gen needle-free blood draw device

Velano recently received FDA clearance for their PIVO Next Gen device!

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The FDA cleared Velano Vascular’s second iteration of its needle-free blood draw device, which attaches to the peripheral IV line that most hospital patients already have, cutting down on repeated needle sticks that are the norm for blood collection.

A peripheral IV, used to deliver fluids, medication or nutrients, may be used to draw blood, but only upon insertion. The single-use, disposable PIVO device attaches to the IV line and advances a small, flexible catheter through it. From here, the device aspirates blood samples without needing to stick the patient multiple times, said Velano Vascular CEO Eric Stone previously.

While the device makes blood draws more comfortable for the patient, it also reduces practitioners’ exposure to needles, Stone said. In the long term, the PIVO device could potentially standardize blood collection across hospitals and health systems.

Read the full story at Fierce Biotech

Luma Therapeutics raises $2M Series A funding

Congratulations to Luma, which can now move its technology further toward market.

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Luma Therapeutics, Inc., a medical device company developing innovative technologies for inflammatory skin disease, announced today that it has raised $2 million in private financing with new and existing investors. The company will use the proceeds to continue collecting clinical evidence supporting its flagship product, the Luma Light System™, and preparing the system for commercial release.

In other news, Luma announced that Matt Likens, has joined its Board of Directors. Mr. Likens is a principal at Likens Healthcare and Management Consulting, LLC. He was the President and CEO of Ulthera, Inc. from 2006 to 2016. Prior to Ulthera, Mr. Likens was employed at GMP Companies, Inc. as President of GMP Wireless Medicine from 2001 to 2006 and Executive Vice President, Operations from 2001 to 2004. Mr. Likens previously served in various capacities at Baxter Healthcare Corporation from 1978 to 2001, and was President of Baxter’s Renal U.S. business upon his departure in January, 2001.

Read the press release on Luma's website

SirenCare Wins TechCrunch "Hardware Battlefield 2017"

Congratulations to SirenCare, a Rosenman Founders' Pledge member!

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The competition was very fierce for the fourth edition of our Hardware Battlefield. Thirteen shockingly good hardware startups competed to win the coveted Metal Man trophy.

These companies had a very special CES experience as they all pitched in front of multiple groups of judges on stage at the Sands Expo. The startups were competing for $50,000 and being named the winner of the Hardware Battlefield.

After many deliberations, our judges narrowed the list down to four finalists: wearable device for pregnant mothers Bloomlife, smart sensors for construction sites Pillar, weaves electronic sensors into clothing Siren Care and pill-identifying device Stratio.

These startups made their way to the finale to demo in front of our final panel of judges, which were CyPhy Works founder and CTO Helen Greiner, U.S. Patent and Trademark Office Director Michelle K. Lee, Intel Capital President Wendell Brooks and TechCrunch Senior Editor Matt Burns.
Applications for Startup Battlefield at TechCrunch Disrupt NY open next month. Head over to our Startup Battlefield page to learn more and apply for free.

And now, meet the TechCrunch Hardware Battlefield 2017 winner.

Read more on the TechCrunch website

 

This Startup Aims to Reduce the Need for Needles for Blood Draws

Startups that aim to cut back on the use of needles for blood draws may face some skepticism these days—the unfortunate legacy of troubled unicorn Theranos.

But Velano Vascular, a tiny San Francisco outfit launched in 2012, bears little resemblance to Theranos, which aspires to perform diagnostic tests using blood drops lanceted from the capillaries of a finger.

To begin with, Velano’s invention taps into the same, scientifically uncontroversial venous blood (i.e., blood from veins, not capillaries) that traditional syringes tap into. In addition, its device is fully FDA-approved. Moreover, the company’s founders—CEO Eric Stone and president Pitou Devgon, M.D.—are willing to show you how its device works, something Theranos was never willing to permit.

Read the article at Fortune

Potrero Medical, Inc. Receives FDA Clearance for the Accuryn™ Monitoring System

From PR Newswire

Potrero Medical, Inc. announced today that it received 510 (k) clearance through the Food and Drug Administration (FDA) for the company's Accuryn™ Monitoring System, which transforms the traditional urinary catheter into a next-generation diagnostic tool for patients requiring tight fluid management, including patients at risk of sepsis and acute kidney injury.  

Accuryn™ provides accurate, real-time urine output (UO), intra-abdominal pressure (IAP), and temperature measurement. By automatically clearing the drain line, Accuryn™ enables accurate UO and reduced urinary retention – a known risk for catheter associated urinary tract infection (CAUTI). Accuryn™ is also designed to improve clinical workflow by eliminating manual intervention of drain line blockages and by providing out-of-the box EMR integration. 

"Urine output monitoring is a very important field that has stagnated for decades. Based on my personal experience using Accuryn™ in our burn unit, I can say that this device establishes a new state of the art,"  Said Bruce Friedman, clinical care co-director of the Joseph M. Still Burn Center.  "Accuryn™ is able to eliminate urinary outflow obstruction that is ubiquitous in current urine drainage systems.  Solving this problem significantly improves the accuracy and diagnostic value of urine output monitoring and also prevents urinary retention- a major risk factor for CAUTI." 

Potrero Medical, Inc. has demonstrated superiority of Accuryn™ in a multicenter randomized clinical study of Accuryn™ against the current gold standard device. The company is currently engaged in a multi-center study of Accuryn™ to detect sepsis and critical illness (PRESCIENT), which is projected to enroll up to 100 patients in the United States.  

Daniel Burnett, MD, Founder and CEO of Potrero Medical stated, "Sepsis and Acute Kidney injury accounted for over $25 Billionin US healthcare costs in 2011 and these costs are growing unsustainably. The Accuryn device will provide actionable data to clinicians which will enable them to improve patient outcomes and to reduce the financial burden of these critical illnesses."   

Potrero Medical will exhibit the Accuryn Monitor at the American Burn Association 48th Annual meeting at Caesar's Palace, Las Vegas, NV between May 3rd-6th 2016.  For more information, please visit http://www.ameriburn.org.

The Accuryn Monitoring System – Important information

The Accuryn Monitoring System is intended for use in the drainage and/or collection of urine, and in the monitoring of urine output and core body temperature, in degrees Fahrenheit and degrees Celsius. The Accuryn Monitoring System is also intended for use in the monitoring of intra-abdominal pressure. The measured pressures can be used as an aid in the diagnosis of intra-abdominal hypertension (IAH) and the associated clinical syndrome of abdominal compartment syndrome (ACS). The Accuryn Sensing Urinary Catheter is a single use device intended for short-term use (less than 30 days).

For information on purchasing Accuryn, please contract Potrero Medical at (415)-926-8616 or sales@potreromed.com.

About Potrero Medical, Inc.:

Potrero Medical, Inc., the latest spinout of medical device incubator Theranova, LLC, is headquartered in San Francisco, CA and was founded with a mission to improve outcomes, reduce costs and expand access to healthcare. For more information about the company, please visit www.potreromed.com.

Potrero Medical, Inc., Contact:
Daniel Burnett
+1 (415) 926-8616

Luma Therapeutics closes first equity round, has patent approved, wins pitch competition

Congratulations to Luma Therapeutics--a finalist in 2015's primeUC competition. Founder and CEO Evan Anderson told us that the company had closed an equity round of $750K to get them through their market-based clinical trial and regulatory clearance.

Evan also said that Luma's patent protecting its hydrogel technology was granted by the USPTO.

And Luma recently took first prize at the Derm Entrepreneurship Conference.

Keep up the good work, Luma!

UH Case Medical Center partners with Velano Vascular for use of needleless blood draw device

The idea of a needleless blood draw can inspire an inquisitive head tilt initially. How does that work? But Velano Vascular has created an innovative way to do just that with its disposable needle free blood collection device, which allows practitioners to collect blood via a tube that is advanced through a patients IV.

Cleveland-based University Hospitals Case Medical Center announced today its collaboration with Velano, making it the first major U.S. academic medical center to commercially adopt the company’s PIVO innovation. It will be launched initially at UH’s Telemetry and Cardiac Intensive Care units.

Read the story at MedCity News

Starved for Sleep, Bay Area Parents Try New App to Soothe Kids' 'Night Terrors'

Shrieking, thrashing and with no way to console them – it’s a parent’s nightmare. But for kids, it’s known as a "night terror." 

Sleep specialists say kids seem to be in a kind of trance: though their eyes are open, parents can’t wake them up until the episode is over.

“It’s like a light bulb, and she just suddenly goes: ‘Hi mommy, hi daddy,’” Mountain View parent Carol Lin said.

She and her husband Tiem Song say they panicked when their daughter Madelyn had her first night terror when she was just 14 months old.

“It sounded very much like she was in pain. She would sit up and twist her body around,” Lin said.
Lin and Song tried ‘jostling’ her to wake her before night terrors would start, but tracking the time became tedious.

The Songs tried the Lully Sleep Guardian, created by a San Francisco startup. The company, started by a former Stanford fellow, is trying to help kids and parents stay asleep longer, creating a device and app to help calm kids’ night terrors.

Read more and watch the video at CBS Bay Area

Velano Vascular Receives Additional FDA Clearance for Innovative Blood Draw Device

SAN FRANCISCO, Jan. 27, 2016 /PRNewswire/ -- Velano Vascular, a medical technology company transforming and enhancing the care experience for hospitalized patients and their practitioners, announced today that the company received U.S. Food and Drug Administration (FDA) clearance for a modified version of its novel, needle-free blood draw device. The Velano device is designed to reduce blood draw-related discomfort and anxiety for hospital inpatients, provide a safer work environment for healthcare providers, and standardize today's fragmented approaches to inpatient blood draws.

Read the press release at PR Newswire

Channel Medsystems Secures $22 Million Series C Financing Led by Third Point Ventures

SAN FRANCISCO, Aug. 31, 2015 /PRNewswire/ -- Channel Medsystems today announced a $22 million Series C financing led by Third Point Ventures. Additional participants in the round included new investor Longwood Fund, joined by insiders Scientific Health Development, Aperture Venture Partners, InCube Ventures and Boston Scientific. Per the terms of this financing, Jason Hong, Ph.D., of Third Point Ventures will join the Company's Board of Directors.

Read the press release at PR Newswire

Graftworx gets $500K from Maryland Venture Fund

Bel Air-based medical device company Graftworx received $500,000 from the Maryland Venture Fund, the state announced.

With the new funding, the company announced the hiring of Lilip Lau, who invented a coronary stent while at Guidant. Graftworx is developing a stent to treat peripheral artery disease (PAD).

The money will also be used to complete pre-clinical trials, officials said.

Read the story at Technical.ly Baltimore

This Year’s 2nd Annual Rosenman Institute Symposium will Focus on Precision Medicine

Last year we announced the launch of The Rosenman Institute, a medical technology partnership between California Institute of Quantitative Bioscience (QB3), the UCSF Department of Surgery, the UCSF Department of Bioengineering and Therapeutic Sciences (BTS), and Friends of Dan Rosenman. The institute is named for the late Daniel Casper Rosenman, who dedicated 25 years to the field of medical devices. According to Kaspar Mossman, QB3’s Director of Communications and Marketing, over the past year, the Rosenman Institute has processed more than 20 proposals from entrepreneurs and matched them with Rosenman Fellows who act as mentors to the development projects. Specifically, two start-ups have successfully launched from the Institute focusing on cardiology and orthopedics.

Read the story at MedGadget

Bringing ‘Moneyball’ analytics to funding medical device startups

Aaron Travis isn’t a big fan of the term “crowdfunding,” at least when it's used to describe his matchmaking service for medical device startups and investors.

Deal Labs Inc., where Travis is moving into the CEO position after joining the Redwood City-based firm a year ago, said the transactions that Deal Labs puts together “look less like crowdfunding and more like traditional funding.” The difference is Deal Labs’ uses sophisticated data analysis to hook up startups and investors.

In the past two years, Travis has helped raise $30 million for 17 startups.
In fact, it is his experience and Deal Labs’ approach that Travis will speak about Sept. 17 as part of the Rosenman Institute’s “D-Series" on medical device development. The forum was assembled by the new institute within the University of California’s QB3 institute.

Read the story at the San Francisco Business Times

Strong Interest in Medical Devices at UCSF Mission Bay Event

A record-breaking turnout—with more than 550 registered—packed Byers Auditorium and spilled into an overflow room at UCSF Mission Bay on Wednesday, June 4 for a symposium on how to help patients and solve surgeons’ problems by developing medical devices.

The event was the first ever at UCSF to focus on medical devices, and served as the launch of the Rosenman Institute, a venture whose founding partners envision one day having the impact of Mountain View’s world-famous Fogarty Institute for Innovation.

The Rosenman Institute was jointly founded by QB3, the Department of Surgery, and the Department of Bioengineering and Therapeutic Sciences.

Read the UCSF News story

UCSF program pushes innovation in medical devices

At UCSF Benioff Children's Hospital, as in all hospitals, patients who lie in bed for hours sometimes develop painful skin sores.

To prevent these wounds, nurses must check and move patients every few hours. But Dr. Hanmin Lee wonders if a device would do a better job of predicting and alerting staff to nascent bedsores.

"That's an area ripe for disruption," said the hospital's surgeon in chief, stealing one of Silicon Valley's favorite lines.

On Wednesday, UCSF will open the Rosenman Institute, a program intended to give Lee and other faculty members the resources to turn their ideas for medical devices into real products.

As a renowned scientific-research university and medical center, UCSF has long teamed with pharmaceutical companies to develop drugs and diagnostics. But even as the institution has ramped up its commercial partnerships, it has not paid as much attention to medical devices, an industry that has spawned life-saving inventions such as pacemakers, artificial joints, replacement heart valves and surgical robots.

Read the story at the San Francisco Chronicle