MedTech Innovator has selected 50 companies to take part in its annual showcase, highlighting future innovators in the medical field.
The international MedTech Innovator competition this week announced its selection of 50 leading medical device, diagnostic and digital health start-ups from nearly 1,100 applications.
Of the 50 start-ups selected for the non-profit contest, four companies are based in Galway, Ireland.
Atrian Medical, Lifelet Medical, Neurent Medical and Tympany Medical are the four Irish start-ups that will be participating. The programme, taking place virtually, commenced on Tuesday (15 June), when the leadership of the 50 chosen start-ups participated in the annual MedTech Innovator Summit.
During this online event, the selected companies collaborated with MedTech Innovator’s partners, participating in virtual networking events and interactive workshops.
A subset of 25 early-stage companies will participate in MedTech Innovator’s award-winning accelerator programme, in which medtech start-ups are matched with senior industry leaders to receive continual in-depth, customised mentorship and support, as well as being eligible to compete for scholarships and cash prizes. Atrian, Lifelet and Tympany have all been selected as participants in this accelerator.
Galway’s medtech innovators
The four Irish companies chosen by MedTech Innovator represent broad approaches to the medical field. They have been selected among start-ups from the US, the UK, France, The Netherlands, Belgium and Israel.
Atrian Medical has developed non-invasive techniques for treating atrial fibrillation. This restores the heart’s steady rhythm through targeting neuronal cells in clusters known as ganglionated plexi.
While most treatments for this heart condition involve ablation (both burning and freezing), this start-up aims to permanently disable errant signals.
Also working on the heart is Lifelet Medical. By developing a fully synthetic polymer-based material, Lifelet is working to provide new heart valve replacements. The company hopes to improve clinical outcomes, achieve increased valve durability and reduce the carbon footprint involved in the process.
In doing so, they aim to improve the lives of the millions of patients suffering from heart valve disease.
Next is Neurent Medical – a start-up that has designed the Neuromark system for addressing rhinitis.
Rhinitis is a disease of the nose that is characterised by persistent symptoms of nasal congestion, nasal discharge (rhinorrhoea), sneezing, postnasal drainage, and numerous other symptoms that have a large impact on the patient’s overall quality of life and wellbeing.
The Neuromark system applies controlled low-power radio frequency energy to target regions of the nasal cavity. In doing so, it aims to disrupt the parasympathetic nerve signals and halt the inflammatory response, thereby eliminating core symptoms such as congestion and rhinorrhoea.
As nearly one out of four rhinitis sufferers develops new respiratory comorbidity – including new allergen sensitivity, sinusitis, and asthma – Neurent Medical researchers hope to considerably reduce the burden on the healthcare system through this innovation.
Finally, Tympany Medical is developing new sterile panoramic endoscope technology.
Endoscopes are typically long, thin tubes with a light source and camera attached to their tip. They are used to provide an internal view of the body’s structures and organs.
By considering issues in the usability and flexibility of existing devices, Tympany hopes to enable a new generation of minimally invasive ear surgery.
MedTech Innovator showcase
These four Irish companies will participate in a four-month programme that culminates in The MedTech Conference from 27 to 30 September, where all 50 companies will present in showcase panels.
During the conference, five start-ups from the accelerator cohort will compete for the Execution Award, and another five companies will advance to compete in the grand final.
An audience vote will determine the winner of the $350,000 grand prize and the title of 2021 MedTech Innovator. Additional awards will be presented, including incubator space at JLABS.
“Our goal at MedTech Innovator is to find the most promising medical innovations and make sure they actually reach the patients who need them,” said Paul Grand, CEO of MedTech Innovator.
“We are thrilled with the calibre of the start-ups participating in this year’s cohort and we look forward to providing them with the resources and mentorship they need to succeed.”
The MedTech Innovator competition is supported in its review and feedback by its partners, including Johnson & Johnson, Baxter and Olympus Medical Systems Group.