As anyone can tell you, the older we get the less our bodies want to work the way that they should. InnoVein is a Bay area company that has developed a first-of-its-kind replacement valve for poorly-functioning veins. When the body’s own valves start to degrade, it can lead to blood pooling in the legs, causing swelling, pain, and wounds.
What is InnoVein
InnoVein is a Y Combinator alum, with a notable team that has brought over 15 different medical technologies to the market so far. With over 200 patents across the team, they are no strangers to the rigors of medical device innovation.
According to the American Journal of Survery, venous leg ulcers cost over $3 billion and 2 million workdays each year. At present, treatment of the effects of vein valve failure does nothing to treat the underlying cause and instead ofcuses only on relieving pain. By using technology similar to that seen in cardiac and arterial solutions, InnoVein hopes to bring a much-needed cure to the market.
The team’s approach to success is three-fold, focusing on benefits to the patient, payer, and to the provider. This one-and-done method for addressing poorly-functioning veins means that a patient could have a one-time surgical cost that is nearly 75 percent less than a single year’s worth of pallative treatment.
By using a percutanious transcatheter procedure (PTP), InnoVein’s solution can be implemented in as little as an hour. These results have been validated in acute and chronic animal trials, and the company has a working demo as well as protected IP.
The Journey Thus Far
InnoVein has been gathering positive reviews from people in the know. Opinion leaders from the Society for Vascular Surgery and the American Venous Forum have signed on to back the InnoVein approach. By using known procedures for implantation techniques, the team hopes to see rapid adoption in the market, and is eyeing an exit within the average 5.5 year window that has been seen from 2015-2017.
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