Boston Medical Device Shark Tank Event

Last night, January 7, 2015 at Mintz Levin in Boston, the Massachusetts Medical Device Development Center (M2D2) brought together five Boston angel investors and five startup companies for a “Shark Tank” Pitch Event.  The five angel investors or “Sharks” were Michael Henry, member of Launch Venture Group; Robert Manning, Chairman of Cherrystone Angel Group; Jeffrey Arnold, member of Boston Harbor Angels; Patrick West, Partner at Mirus Capital Advisors; Richard Anders, Founder of Mass Medical Angels.  The five medical device companies competing for funding at the pitch event were Admetsys, Carepoint Solutions, Sunsprite, MedSentry and Vivonics.


Product: an artificial pancreas for the hospital

Current Financing: Founders

Status: product not on market, granted priority review by FDA, data from three clinical trials

Use of Future Investments:  production engineering, clinical trials

Market: 6.5B annually

Funding Seeking: Series A

CarePoint Solutions

Product: “Turbo Tax” for hospitals, diagnostic testing to comply with and implement the CLIA-compliant individualized quality control plans (IQCP’s)

Current Financing: $1.2MM from friends, family and industry colleagues

Status: product is on market, in discussion with major IVD companies regarding co-marketing collaborations

Use of Future Investments: product line extension, marketing campaign, infrastructure build-up, customer support, sales channel development

Funding Seeking: 1.5MM


Product: wearabe to allow patients to self-manage depression by tracking time spent using bright light therapy

Current Financing: $900K in convertible debt

Status: product is on the market, 1,000 units sold in twelve weeks for a price of $99

Use of Future Investments: ACO pilots, software integration, scaling manufacturing

Market: $6.7B (people who are depressed and belong to ACO’s) (The market for Depression in the United States is $100B)

Funding Seeking: 1.5MM


Product: outpatient medication adherence solution for complex regiments

Current Financing: Angel funding

Status: product is not on the market, has completed clinical trials

Use of Future Investments: build out the support and working capital required for clinical launch in 2015


Product: Intracranial Pressure Assessment and Screening System (I.PASS)

Current financing: SBIR & DOD rapid innovation fund awards

Status: not on the market

Use of Future Investments: to obtain FDA clearance, to set up manufacturing, sales, distribution and marketing for US launch

Market: over $200MM

Funding Seeking: 2MM

Massachusetts Medical Device Development Center along with Boston Scientific, Mintz Levin, Omni Components, Smith & Nephew and Massachusetts Life Science Center is sponsoring a Venture Competition with a prize of 100k for medical device startups

Event sponsored by Mintz Levin, which has completed over 150 venture capital transactions since 2012 with an aggregate deal value of over $1.9B

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