NEMIC & Advance-CTR Team Up to Translate Research into Viable Businesses
NEMIC and Advance-CTR have teamed up to bring early-stage Rhode Island academic entrepreneurs a one-on-one coaching program to teach them the various components of translating research into an eventual business plan and pitch deck with investors in mind.
The Planning Pitch Deck & Business Plan Immersion Program supports two research entrepreneurs from Rhode Island Hospital and Brown University by providing an individualized strategy of how to take their specific research innovations to market.
Advance-CTR supports clinical and translational researchers in Rhode Island through funding, research resources and services, and professional development opportunities to fuel discoveries that improve overall health in the state. NEMIC supports local, regional, and global entrepreneurs with a specialized knowledge of not only translating research into a business but, a viable and investable business. NEMIC provides entrepreneurs with access to seed funding, connections to an expansive network, and extensive expertise in medical device and digital health commercialization.
Beginning May 2019, the program helps the entrepreneurs navigate strategic decisions and hone their business plans through individualized meetings with NEMIC staff and advisors over the next four months.
The program culminates with each investigator delivering a final presentation or “pitch” of their innovation to NEMIC experts and the Advance-CTR investigator community, where they will receive feedback, discuss lessons learned, and preview next steps for taking their innovation from the ideation stage and into the market.
Meet the Entrepreneurs
Sean Monaghan, MD
Assistant Professor of Surgery
Sean Monaghan is a trauma, critical care, and acute care surgeon at Rhode Island Hospital, and a member of the Lifespan Health System. When he’s not caring for patients, Sean is in the lab at Rhode Island Hospital working on his research. His experience with trauma patients is what led him to do deep research in the revolutionary and innovative role of alternative RNA splicing in critical patients. By examining certain biomarkers in a patient’s RNA, Sean proposes that they can predict, and potentially prevent, late trauma deaths. RNA biology is a novel and under studied field, but his research has shown promising leaps in the technology and its capabilities.
Where the Immersion Program Comes In:
By teaming up with NEMIC for the Immersion Program, Sean has already been able to redirect his research and hone in on a potential beachhead market, identify the potential clinical value, and narrow down the technology with the market and value in mind. By providing opportunities to connect with experts in the field of diagnostics, Sean gained invaluable advice about next steps in his research and the path to commercialization. Realizing regulatory strategy early on will be a crucial step for Sean to translate his findings into a fundable solution. Subsequent meetings will tackle the early formation of a pitch deck, IP strategy, and regulatory strategy.
Jonghwan Lee, PhD
Assistant Professor of Engineering
Jonghwan Lee is an assistant professor at the School of Engineering and the Carney Institute for Brain Science at Brown University. Jonghwan’s research in the Lee Lab has ranged from areas of cerebral microvascular imaging to intra-operative microscopy. His current research has been translated into a revolutionary solution to restore vision in blind patients by remotely stimulating neurons, which will enable non-invasive retinal prosthetics. The current solution for solving this problem involves an expensive, complicated, and invasive surgery, with resolution as low as 8 x 8 pixels. Jonghwan’s solution proposes an achievement of 100 x 100 pixel resolution.
Where the Immersion Program Comes In:
The Immersion Program has already facilitated high-value meetings with NEMIC's network of advisors as well as external subject matter experts who are well versed in regulatory strategy, medical product development, and commercialization. Jonghwan gained a clear understanding of his next milestones and how he will reach those marks. Jonghwan and NEMIC have been working to review his likely regulatory pathway, submission requirements, and how to prepare for preliminary FDA meetings. Subsequent meetings will be geared to refine his pitch planning deck and build an IP strategy, so he can continue building his budding business.
Learn more about Advance-CTR.