Fibralign Corporation voted 2014 MedTech Innovator
MedTech Innovator 2014 was held June 12, 2014 during the 22nd Annual Medical Device Conference, hosted by law firm Wilson Sonsini Goodrich & Rosati (WSGR)
267 companies submitted their plans. A panel of investor judges reviewed the entries to select the MedTech Innovator Top 10 Semi-Finalists. The investor judges included Christopher P. Martin, President, RCT Ventures; Ned Scheetz, Founder & Managing Director, Aphelion Capital; James Dreher, Managing Partner, Option 3; and Brad H. Vale, Ph.D., D.V.M., Head, Johnson & Johnson Development Corporation (JJDC). The competition was produced by RCT Ventures, and the event's Master of Ceremonies was Paul Grand, Managing Director, RCT Ventures.
The final phase of the competition took place live on stage during the 22nd Annual Medical Device Conference, hosted by law firm Wilson Sonsini Goodrich & Rosati (WSGR) in front of an audience of more than 600 industry professionals in San Francisco. The 10 Semi-finalists competed to be among 4 Finalists who gave 5-minute presentations followed by 5 minutes of Q & A from the judges. The audience then voted in real-time for the winner using their mobile devices, which was Fibralign Corporation. The second place winner was Francis Lamont Innovations (FLI).
Fibralign's first product, BioBridge, is developed to address Secondary Lymphedema, a global chronic debilitating disease that affects over 120 million people and has no cure. The Company successfully completed a large animal study that validated BioBridge-treated diseased lymphatic tissue. Fibralign is now preparing for 510(k) submission and a clinical study.
"It was a real honor to be chosen from among our peers as this year's MedTech Innovator winner," said Greg King, COO of Fibralign. "This award provides Fibralign needed visibility to better address this significant opportunity. The competition was a fantastic experience, because it put a much-deserved spotlight on great startups selected from around the world. These companies provide a diverse range of breakthrough products that offer creative ways to improve patient care."
RCT Ventures produced the competition and contributed a $100,000 cash prize for the winner. "I was thrilled to see an innovative company like Fibralign win the 2014 MedTech Innovator competition, which seeks to identify outstanding early-stage MedTech opportunities and help them succeed," said Grand. "Fibralign was voted the winner by an audience made up of over 600 venture capitalists, corporates, and industry professionals. That kind of exposure and engagement would typically take months or years and has the potential to result in a financing or key industry partnership."
In addition to RCT's $100,000 contribution, several of the Johnson & Johnson family of companies contributed $25,000 to Fibralign's prize, and the second place winner, FLI, also received $25,000. Additionally, Janssen Labs, a life science incubator, is providing entry to the Janssen Labs community for Fibralign for one year, valued at $25,000. "Across the Johnson & Johnson Family of Companies, we take pride in supporting innovators and entrepreneurs in the life science community," notes Dr. Brad Vale, Head of Johnson & Johnson Development Corporation. "We work with emerging companies to help advance their science and technology into products that change people's lives."
In addition to the cash prizes, Fibralign received several prizes designed to give the company broad exposure to investors and industry. The company will be profiled in an upcoming issue of the MedTech Innovation Report. Fibralign will also get a presentation slot and complimentary full access registration to this October's AdvaMed 2014 conference in Chicago, which is expected to attract more than 2,500 investors and MedTech industry professionals.
RCT is Hiring
RCT is looking to hire an Analyst for our medical device team. This position will be involved in conducting diligence, supporting portfolio companies, and sourcing deals. The Analyst will be a key player in RCT's device team and will gain wide exposure to a variety of medical device technologies, inventors and entrepreneurs. This position will be based in Tucson, AZ.
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Meet the 2014 MedTech Innovator Top 10
Paul Grand - Producer and Master of Ceremonies
Paul M. Grand is a Managing Director for RCT Ventures, which is focused on early-stage biomedical companies. At RCT, he is responsible for sourcing RCT's investments in medical devices and representing RCT on the boards of its portfolio companies. Prior to RCT, Grand was an entrepreneur, founding eight companies. Grand is actively involved in programs to encourage bio-entrepreneurship and innovation. He is on the Advisory Council for BioAccel in Arizona. Grand serves as an investment advisor to the LARTA NIH Commercialization Assistance Program for SBIR program awardees. He is on the Oversight Committees for the Coulter Translational Research Partnership Programs at USC and University of Washington. Grand is a reviewer for proof of concept and commercialization-focused funding programs for the University of California system-wide, USC, University of Utah and University of Colorado. He is also currently a Visiting Scholar at UCLA.
Chris Martin - Judge
Chris Martin is the President of RCT Ventures, which is focused on early-stage biomedical companies. Along with his responsibilities as President, Chris Martin is treasurer and director of the RCT board of directors. He also leads the RCT team focused on medical device investments. Chris holds an M.B.A. in finance/strategy from The Anderson School, UCLA, an M.S. in biomedical engineering from the University of Southern California, and a B.S. in biology/biochemistry from the University of Michigan.
Ned Scheetz - Judge
Ned Scheetz is the managing director and founder of Aphelion Capital, a healthcare venture fund with an investment emphasis in medical technology, consumer health and wellness, diagnostics, and research tools. Ned has been an investor in numerous public and private medical technology companies for nearly two decades. He was a partner and managing director with Piper Jaffray Ventures and a senior analyst with Janus Capital. Ned is a graduate of Colby College, Duke University's Fuqua School of Business, and was a post-graduate scholar at Oxford University, in addition to holding the CFA designation.
Brad H. Vale, Ph.D., D.V.M. - Judge
Brad Vale is head of the Johnson & Johnson Development Corporation (JJDC) and has been with the company since 1992. Since joining JJDC, he has invested in over 30 companies, including five that were ultimately acquired by various Johnson & Johnson subsidiaries. In 2008, Brad was appointed to vice president, head of venture investments. Four years later, in 2012, he was named head of JJDC. Prior to JJDC, he was supporting Johnson & Johnson's medical device businesses at the Corporate Office of Science and Technology. From 1982 to 1989, he was at Ethicon, Inc., a Johnson & Johnson subsidiary, working on preclinical studies, new business development, and a coronary artery bypass graft internal venture. He is a published author in the area of medical device development. Brad received his Ph.D. in biomedical engineering from Iowa State University his D.V.M. from Washington State University.
James Dreher - Judge
James Dreher is Managing Partner of Option 3, LLC. Jim is a medical device entrepreneur who, over the past 20 years, has founded and helped launch a number of highly valued start-ups, including General Surgical Innovations, Inc. (GSI), Embolic Protection, Inc. (EPI), AccessClosure, Inc. (ACI) and HotSpur Technologies. GSI went public in 1996 and was acquired by Tyco Healthcare in 1999. EPI was acquired by Boston Scientific in 2001. HotSpur Technologies was acquired by Teleflex in 2012 and ACI was recently acquired by Cardinal Health in May, 2014. Jim is currently Founder & Managing Partner of Option3, a medical device incubator focusing on fast-to-market technologies. Option3's first spin-out company, Axiom Technology Partners, was also acquired by Teleflex in May, 2012. Prior to his entrepreneurial career, Jim held various US and International Senior Management positions at Johnson & Johnson and Baxter Healthcare. Jim has authored and co-authored a number of patents and patent applications.