Category Archive For "AngelMD News"
AngelMD is proud to announce its strategic alliance with The Rapacke Law Group. This alliance will help AngelMD members navigate the legal side of healthcare startups without the expense required to keep a lawyer on retainer. The Rapacke Law Group offers award-winning, price predictable legal counsel to AngelMD startups, physicians, and investors.
At AngelMD, we’re always excited when we find companies that can help to remove some of the heavy lifting required by startups, physicians, and investors on the network. The Rapacke Law Firm is offering a special set of benefits specifically to AngelMD members that will not only help them handle legal issues, but will also save them money in doing so.
- Free one-hour strategy session with an experienced attorney
- 20% off all legal services
- Free provisional patent application
- Up to $15k line of credit for one-year toward legal services
Patent, trademark, IP protection, business formation and M&A are areas of focus that every company and investor will encounter at some point on their journey. However, neither startups nor investors have the legal expertise to make sure that their interests are well protected. This strategic alliance with the Rapacke Law Group can help to cover these needs, while also offering legal counsel in many other areas.
For more information, or to get started, visit the AngelMD Service Partners page, and click on the Rapacke Law Group link.
In the United States, roughly one out of every three babies born in the United States are delivered via cesarean section. According to key stakeholders, nearly half of these c-section deliveries are medically unnecessary. These major surgeries carry risks such as postpartum hemorrhage, rupture of the uterus, cardiac arrest, infection, complications from anesthesia, and much more.
Raydiant Oximetry, Inc. is a California-based company that has developed a safe and noninvasive technology that directly monitors a baby’s oxygenation during pregnancy. For clinicians who are dissatisfied with the lack of tools available to assess the baby during childbirth, this technology will lead to improved decision making and better care to mother and baby. Today, the company is announcing that it has been awarded Breakthrough Device status by the Food and Drug Administration (FDA).
“The FDA’s approval for a Breakthrough Medical Device status is an incredible validation for the work that we are doing,” said Raydiant Oximetry CEO Dr. Neil P. Ray. “Not only does it accelerate the path towards FDA approval, it’s also a public health validation that what we have been developing is a global priority for the health of mothers and babies.”
The FDA’s Breakthrough program is targeted towards medical devices that address significant unmet clinical needs. It provides an expedited pathway to approval for market access. This pathway affords the sponsor a priority review with senior personnel and less pre-market clinical data for expedited approval.
“It is baffling that the public outcry over our current c-section rate isn’t louder than it is,” said AngelMD Lead Investor Dr. Wendy Whittington. “Raydiant’s new breakthrough status confirms that safe, effective tools to give doctors better information about in utero well being are necessary and timely. Tools to enable doing the right thing are welcome and necessary in this pivotal time for our healthcare system.”
AngelMD announced in September 2018 that a group of its investors had completed a funding round in Raydiant Oximetry. The company is now working on building its next generation prototype, to improve accuracy and reliability, which is slated for completion in February of 2019.
Today, AngelMD is announcing the close of a $594,000 round of funding for Access Vascular, Inc. The syndicate funding is part of the total $3.4 million round that has now been closed by the company.
A peripherally inserted central catheter (PICC) is a critical component to long-term intravenous treatments. However, the status quo for PICC equipment has an inherent problem — the potential for deep vein thrombosis and pulmonary embolism. These conditions can occur because blood platelets begin to deposit on the PICC’s surface immediately after placement. Based in Massachusetts, Access Vascular has developed the HydroPICC — a PICC developed with proprietary bulk hydrophobic material which is highly resistant to platelet deposit.
“We are grateful for the support that our new and existing investors have given us as we prepare for the roll-out of our first product,” said Access Vascular CEO James Biggins. “In addition to funding the initial post-market use of our FDA-cleared HydroPICC, the funds will support the development of other products in our pipeline. This includes a version of our device that may be capable of controlled release of drugs over an extended period of time to actively kill bacteria over the lifespan of the device.”
Access Vascular has recently passed a number of milestones on its route to market release. In September, the company released the results of its preclinical studies. These studies showed that in in-vitro and in-vivo use, Access Vascular’s HydroPICC achieved a 97 percent reduction in thrombus accumulation versus existing market options.
“I first became aware of the company through AngelMD. Access Vascular has met a huge need for vascular catheters that do not clot and cause complications for patients,” said Syndicate Lead Dr. Min Yoon. “CEO James Biggins discussed the technology in depth, and had a clear strategy to provide a return to shareholders.”
The company intends to begin a limited market release in October of 2018. This release will signal the first commercial use of the device.
More than 115 people die from overdosing on opioids each day in the United States. While opioid addiction itself is nothing new, increased opioid prescription rates since the 1990s have only exacerbated the opioid epidemic, which has officially been declared a public health emergency. Neumentum, Inc. is a California-based company that is developing and plans to commercialize products that have the potential to effectively treat pain, without the risks of abuse, misuse and diversion seen with opioid analgesics.
Today, AngelMD is announcing the close of its latest syndicate investing in Neumentum. The company intends to use the capital to accelerate and complete a Phase I pK study and prepare and initiate Phase III clinical trials for its lead product candidate, NTM-001. NTM-001 is a novel, alcohol-free formulation of the non-steroidal anti-inflammatory drug (NSAID) ketorolac in a pre-mixed bag designed for 24-hours of continuous infusion following surgery. It is being evaluated to manage moderately severe acute pain that requires analgesia at the opioid-level, usually in a post-operative setting, potentially reducing the need for opioid pain relievers.
“Neumentum is developing new ways to manage pain without the risk of addiction, misuse or life-threatening side effects seen with opioids. We believe that people in pain deserve alternative treatment options that are more effective and safer than those widely available today,” said Scott Shively, co-founder and chief executive officer of Neumentum. “We are proud to have the support of the AngelMD syndicate and are honored to partner with such a prestigious investor platform. The confidence the physicians that comprise the AngelMD syndicate have in our company serves to bolster the potential for what could be the first continuously infused NSAID to be successfully developed for acute post-operative pain in the US.”
The Phase I study of NTM-001 is designed to evaluate the pharmacokinetics of NTM-001 continuous infusion compared with ketorolac IV injection every 6 hours. The study will be comprised of 4 cohorts and will enroll 64 subjects at two sites.
“As physicians, we’re taught to treat the fifth vital sign of pain — a practice which may have caused the opioid crisis that we’re now dealing with,” said Syndicate Lead Investor Dr. Suzanne Manzi. “There are no studies that show proven efficacy of opioids for treating chronic pain. Neumentum may have an answer that helps to shift the paradigm of post-operative pain control to a non-opiate solution.”
Today AngelMD announced it has formed a strategic alliance with Insperity to offer AngelMD startups and members the benefit of access to industry-leading HR products and services, best practices, tools and resources, in an effort to help startups focus on their core technology and assets in a more economical and efficient way. In addition, Insperity will offer thought leadership resources to AngelMD startups to help them make strategic HR decisions.
“We are always looking for companies that can take non-core functions off the backs of startups. We want startup teams to be laser focused on their core strengths,” said Tobin Arthur, CEO of AngelMD. “Insperity is a fantastic entrepreneurially minded company that is hyper-focused on serving early stage companies and we are excited to introduce them to our community.”
Hiring, payroll processing, government compliance, employee benefits and the myriad of employer-related HR responsibilities are not typically areas of focus or strength for most entrepreneurs. However, given the critical importance of people in the success equation of a venture, it’s imperative that HR and administrative functions are handled properly to optimize performance while mitigating risk.
The alliance with Insperity is just one of the many planned Service Partners forthcoming from AngelMD. To learn more, or to get started, visit our Service Partners page and click the Explore & Sign Up button.