Fueling Innovation: Highlights from NEMIC’s 2023 MedTech Accelerator
In a continued effort to support businesses in Rhode Island's MedTech industry, NEMIC held its MedTech Accelerator for the 4th year. Funded by the Rhode Island Department of Labor & Training, the program offers a comprehensive support system designed to foster innovation and growth. Open to all MedTech and HealthTech businesses across the state, the Accelerator offers entrepreneurs the mentorship and technical assistance they need to navigate the intricate challenges of the MedTech landscape.
Over the course of six months, nine ambitious companies immersed themselves in NEMIC’s expansive network of expert advisors and bespoke programming. Participants tapped into resources that are often out of reach for early-stage companies, from prototyping development and regulatory and reimbursement insights to strategic planning, intellectual property strategy, and cutting-edge digital marketing tactics.
Here's an overview of the 2023 NEMIC Accelerator Awardees:
Peter Nuytkens, a highly accomplished MedTech entrepreneur with a background in biomedical, electrical, and materials science engineering from Duke and MIT, was diagnosed with Parkinson's Disease in 2017. Leveraging his vast expertise, including over 72 original works and patents, Peter embarked on a mission to revolutionize treatment for Parkinson's Disease. The result is IRIS—a groundbreaking therapeutic device designed to improve key symptoms such as mental acuity, sleep, balance, and tremors while reducing dependence on medication. The device, which also shows promise in reversing the progression of the disease, was selected for NEMIC's 2023 DLT Accelerator with a focus on honing its regulatory strategy, refining its business model, supporting clinical study efforts, and exploring funding opportunities to propel its development. IRIS is actively raising funds to advance its progress and the device is set to undergo a small clinical study with Lifespan Research Center, with patient enrollment beginning imminently. This marks a significant step forward in bringing this transformative therapy to the market and offering new hope to those living with Parkinson's Disease.
Founded by IT professional and CEO Greg Calderiso, Just Breathe was inspired by Greg’s personal journey in managing anxiety through breathwork. After finding traditional treatments like therapy and medication unsatisfactory, Greg discovered the benefits of breathwork but struggled to maintain consistency. This led him to create Just Breathe, a revolutionary relaxation device that guides users through calming, science-backed breathing patterns using light airflow. The hands-free device fits in the mouth, and prompts timed inhalations and exhalations, allowing users to benefit from mindful breathing while continuing their daily tasks. Just Breathe offers a simple, effective way to practice breathwork without needing dedicated time or focus. During the Accelerator, Just Breathe was able to develop a proof-of-concept prototype, build out its pitch deck, pressure test its pricing and business model, and put together an innovation voucher. Post-program, Greg went on to win the Rhode Island Business Competition and was awarded a $75,000 Innovation Voucher from the state. The team is now working on further developing their prototype and an SBIR submission to conduct clinical studies at Lifespan.
Centinela Diagnostics is revolutionizing medical diagnostics by transforming scientific innovations into practical healthcare solutions with its Centinela™ platform. This technology provides rapid, laboratory-quality results in less than 30 minutes using fingerstick or venous samples. Centinela can perform dozens of tests simultaneously at the point of care, offering a fast, accurate, and cost-effective alternative to traditional labs. NEMIC supported Centinela in completing its market validation, and the company is seeking partnerships to expand its customer base, develop new tests for the platform, and pursue FDA approval. The main indication Centinela is pursuing is Lyme Disease, which has a long testing and result period. The hope is that patients and their providers will be able to gain insight into conditions more quickly using the Centinela platform.
Foxglove is focused on developing innovative solutions for female dementia patients with functional urinary incontinence. Their main product, MittyPak™, is a comfortable and secure system that includes a human interface and urine collection device. Peg Fradette and Lynn Farrar, the inventors of MittyPak, understand that the existing options for female dementia patients with urinary incontinence are subpar, both having a professional background in medical supplies and healthcare products. NEMIC has helped Foxglove navigate regulatory pathways and better understand the approach to obtaining FDA approval, supporting their efforts in bringing innovative solutions to market. NEMIC also supported Foxglove in developing a benchtop prototype with Nova Design to validate the existing concepts and approach to this incontinence solution. The Foxglove team hopes to submit for an SBIR in the coming months to continue this momentum.
BedJet has developed the world's first climate comfort sleep system, designed specifically for beds and featuring biorhythm sleep technology to optimize sleep quality. BedJet came to NEMIC wanting to enter the market as a medical device that providers could prescribe to patients who suffered from irregular temperatures while sleeping. It is a market leader in this category, offering unparalleled comfort and customization for sleepers. NEMIC has supported BedJet with reimbursement strategy and regulatory feedback to enhance market penetration and ensure compliance with industry standards.
Ege Onal and his team embarked on developing a noninvasive diagnostic device for kidney stones, utilizing machine learning algorithms and microscopic imaging to classify stone types—the project aimed to enhance accuracy while reducing the cost and time associated with traditional diagnostic methods. Supported by NEMIC, Ege received invaluable guidance on regulatory strategy and patentability and connected with key industry experts. Despite encountering more challenges than expected, the experience provided Ege with a deep understanding of the patent landscape and the complexities of medical technology development. While the technology did not succeed commercially, Ege's innovative mindset remains strong as he continues his studies at the Warren Alpert Medical School, where he sees new opportunities for future breakthroughs.
Empath Labs is a patient experience lab focusing on pediatrics, specializing in innovative solutions to enhance medication compliance, retain participants in clinical research, and empower patients. They aim to improve adherence by addressing underlying causes, such as emotional engagement and patient ownership of health, rather than just treating the symptoms. In addition to their expertise in patient experience, Empath Labs collaborates with the pharmaceutical industry to support drugs that target the root causes of diseases. Aaron and Joel, the founders of Empath Labs, wanted to learn more about regulating their products so providers could prescribe them to patients. With this interest, NEMIC has supported Empath Labs by helping them better understand their approach to regulatory approval with the FDA, ensuring their solutions align with industry standards.
Needle in the Noise is a startup working on a mathematical algorithm for enhanced signal processing in medical diagnostics. Founded by Nick Grumbach and Derke Hughes, the company focuses on separating and analyzing complex signals in imaging technologies, such as ultrasound, to improve diagnostic accuracy. They are seeking to develop their concept further and are involved in preparing for SBIR grant applications. NEMIC has supported their progress by helping them connect with physicians for clinical validation and feedback and guiding reimbursement and regulatory strategies. Additionally, NEMIC has assisted with updating its pitch deck and exploring funding options, including grants.
Trace Sensing Technologies is focused on revolutionizing disease diagnosis and monitoring with its novel sensor platform, TRACE-E. This device utilizes a proprietary Thermodynamic Sensor to detect breath biomarkers to single molecules. TRACE-E promises to be less expensive, faster, and more sensitive than current diagnostic methods, addressing gaps in early disease detection and monitoring. The Trace Sensing team is currently focusing on multiple indications, but primarily Chronic Kidney Disease (CKD). NEMIC has supported Trace Sensing Technologies by connecting them with physicians for clinical validation and feedback and by facilitating discussions on reimbursement and regulatory strategy.
Year after year, the NEMIC Accelerator receives applications from astounding companies doing incredible work. Through the support of the Rhode Island Department of Labor & Training, NEMIC continues to support these entrepreneurs and provide vital assistance in the growth and success of their companies. As the life science ecosystem continues to grow in Rhode Island, MedTech and HealthTech remain a fundamental keystone in this space of innovation and entrepreneurship. As these companies grow and deepen their roots in the state, our communities are improved for it. NEMIC is grateful to bolster this effort and looks forward to running yet another outstanding cohort in the ‘24-‘25 season. Visit our site for an overview of NEMIC’s Accelerator Program or to apply now for our upcoming cohort!
