At the Texas Medical Center (TMC) on Thursday, two medical device startup companies were awarded $250,000 apiece from the $25 million TMC Venture Fund, which supports early-stage health care companies.
The investments to CorInnova and Intelligent Implants were announced during the TMC Innovation Center’s biannual Digital Health Demo Day.
“The two companies receiving financial support from the TMC Venture Fund are indicative of our mission in myriad ways,” said Bill McKeon, president and chief executive officer of the Texas Medical Center, the largest medical city in the world. “I am extremely proud of the growth and progress that these companies have made in their time spent at TMC Innovation. I have full confidence that these startups will go on to do tremendous work in the health care space with the additional financial backing each company has been awarded from the fund.”
The $25 million TMC Venture Fund, first announced in November 2017, was established to help technologies and early-stage companies flourish in Houston’s health care ecosystem and to advance the TMC’s commitment to health, education and research.
CorInnova, a tenant at Johnson & Johnson Innovation’s JLABS @ TMC, is developing EpicHeart, a soft robotic non-blood contacting biventricular cardiac assist device for the treatment of heart failure that aims to increase output and promote heart recovery.
“We are delighted to be selected by the TMC Venture Fund for a significant investment from such a highly competitive group of companies, as it shows broad recognition from the Texas Medical Center institutions for the transformative nature of our next generation minimally invasive cardiac assist device technology,” said William Altman, president and CEO of CorInnova Inc. “The impact of the investment is high—the TMC Venture Fund investment alone will pay for our final large animal safety studies which will then qualify CorInnova to begin a first-in-human trial and allow CorInnova to raise a significant next venture round.”
Intelligent Implants, also a JLABS @ TMC tenant, enhances, directs, and monitors bone growth in real time using wireless implantable electronics, in an effort to treat disease and aid recovery in bone and other tissues.
In October 2017, the company won second place in the Center for Device Innovation @ TMC QuickFire Challenge. The device-focused challenge was launched by Johnson & Johnson Innovation and Johnson & Johnson Medical Devices to find game-changing early-stage medical device innovations across strategic areas, including surgical oncology and obesity.
“Intelligent Implants was founded in Europe,” said John Zellmer, co-founder and CEO of Intelligent Implants. “We moved most of our operations to Houston a little more than a year ago. Now, as a Houston-based company, we are excited to further integrate into this amazing ecosystem that TMC built around the life science and medical device industry. Receiving funding and support from TMC will aid and accelerate our efforts to help patients get better quicker after spinal fusion surgery and avoid devastating complications.”
The TMC Venture Fund accomplishes one of the key tenets of the Texas Medical Center’s strategic plan by transforming innovative ideas into tangible solutions for improving health. The fund provides monetary resources to young startups in the health care space with a nexus to Houston and the Texas Medical Center. These early, but critical-stage investments heighten companies’ chances of receiving additional funding and long-term success.
“CorInnova and Intelligent Implants have each made tremendous strides since entering the doors at TMC Innovation,” said Erik Halvorsen, director of the TMC Innovation Institute, which unites promising innovators with the best minds in academia, science and medicine. “Working closely with both of them in various capacities, I have gained an intimate knowledge of the capabilities that these companies possess that will enable them to improve patient health and ultimately save an innumerable amount of lives. Both are deserving Venture Fund recipients to the utmost degree.”
RT @utsystem: The Board honored outgoing Student Regent Brittany Jewell, who is working on her Ph.D. in cell and regulatory biology at @UTH…
It's all about timing when it comes to intermittent fasting. See what Jennifer Cleveland, one of our registered dietitians, has to say in our latest edition of "debating diets." https://t.co/NgiZG3ag1V #diets #intermittentfasting https://t.co/LOkrJVJFOX
It’s a full house at UTMB’s annual Employee Service Day! Congratulations to all of our employees celebrating today and thank you for your outstanding service! https://t.co/NG8TqNmAnm
Harris Health System@harrishealth
May is International Mediterranean Diet Month. Get in the spirit with this Mediterranean Diced Salad made with flavorful, nutritious chickpeas. https://t.co/iDHXhsttod https://t.co/5qGP5hgIfo
The nation’s top medical experts, hospital executives, pediatricians and community health leaders recently convened at @TexasChildrens for @usnews “Combatting Childhood Obesity” summit, addressing one of the nation’s most critical health issues: https://t.co/ZfeU7kEOwB
TAMU Health Sciences@TAMHSC
@NurseKnut @TAMU Thank you for your selfless service, life savers!👍
RT @BCM_CancerEd: Summer is almost here, do you have the right sun protection products? The @SkinCancerOrg and @AADskin give recommendation…
MD Anderson Cancer Center@MDAndersonNews
#Mealplanning tips to help you make healthier food choices, while saving time and money, from our dietitian Lindsey Wohlford: https://t.co/FSjXRUl8UK @FocusedonHealth #endcancer https://t.co/UWAGalotCh
3-D printing technology brings innovation to @SanAntonioVAMC https://t.co/fGVG1p4ki7 via #VAntagePoint
RT @BCMHouston_News: A new study shows practicing dawn to sunset fasting for 30 days may potentially help treat #obesity-related conditions…
University of Houston@UHouston
@JRUG_17 Just chillin' https://t.co/nahz4T5ZSr
Try this delicious and fizzy—but also healthy—drink at your next get-together: https://t.co/GdY9NEq0Ir. https://t.co/vyj5TUj3IC
RT @MoodyArts: We're excited to share that the Moody Center for the Arts, designed by Michael Maltzan Architecture, is a recipient of the T…
MD Anderson Cancer Center@MDAndersonNews
“There was no question I’d go to MD Anderson for my #tonsilcancer treatment,” says survivor Jeff Deatsman: https://t.co/60zRSzp7vA @mekupferman @CD_fuller #HPV #hncsm #endcancer
RT @RiceUNews: Houston’s new poet laureate is not only a @RiceUniversity employee, she's also a @ricealumni: "Rice absolutely helped me get…