Neuros Medical Enrolls First Patent in Pivotal Study
Cleveland, OH, January 28, 2015– Neuros Medical, Inc., a medical device company, announced it has enrolled the first patients in its pivotal clinical trial to evaluate the Company’s patented Altius® System High Frequency Nerve Block technology for the management of intractable limb pain of amputees. When completed, the results will support a PreMarket Approval Application to FDA in order to market the device.
Neuros Medical- An Urban Revival in the Rust Belt
Experts say affordable housing, a slew of new investments in growing fields and stable workforces have put places like Buffalo, Cleveland and Pittsburgh back on the map for both new college grads and Rust Belt natives who left to find work but feel a tug back to the homefront.
"They've done a great job revitalizing downtown, expanding and turning former office buildings into apartments," says Jon Snyder, who was born in Cleveland and has returned to launch Neuros Medical, a medical device startup.
For the full story click here.
Ohio Entrepreneurs need $523M over next 18 months
Columbus, Ohio – May 28, 2014 – VentureOhio reported today that 176 Ohio companies need to raise more than $523 million of early-stage capital over the next 18 months to support continued growth and job creation.
The results of the VentureOhio survey—the first of its kind for Ohio—are based on responses from 28
angel investment groups, entrepreneurial signature programs, venture capital funds and business
accelerators across the state. The results confirm the substantial near-term need for early-stage capital
Local startups stalled by lack of capital
Northeast Ohio is mass producing high-tech companies, but something is wrong with the assembly line.
There aren't enough local investors willing and able to fund the dozens of tech companies pouring out of the region's three business accelerators and other programs designed to help local startups, according to several sources.
Competition for cash is increasing at a time when the pool of capital is shrinking. And locally, the pool was never that big.
As a result, some startups could leave the state in an effort to find investors elsewhere.
To read the complete article click here.
Ohio Venture Community Announces Creation of VentureOhio
Columbus, Ohio – February 20, 2014 – VentureOhio, a newly formed trade association representing
organizations that finance and support entrepreneurs based in Ohio, announced today it will pursue
several key policy initiatives and programs for 2014. These policies will increase early stage capital
availability and promote entrepreneurial growth and job creation in Ohio.“VentureOhio will be a unified voice for the venture investors, incubators, accelerators, universities, and
other organizations that are launching and growing high potential businesses in Ohio,” said John
McIlwraith, VentureOhio Chairman and Allos Ventures Managing Director.
“Venture investment is a long term investment in both time and money,” said Steve Haynes, founding
member of VentureOhio and Chairman of Glengary LLC. “Venture investors are actively engaged with
the companies in which they invest and take a significant role in scaling a small business of two to five
employees to a national or international competitor with hundreds or thousands of employees. When
done well, everyone benefits including customers, employees, shareholders and communities.
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Neuros Medical Receives Regulatory Approval for Implantable Device
Cleveland, OH, September 16, 2013 – Neuros Medical, Inc., a medical device company announced it has received an Investigational Device Exemption (IDE) approval from the U.S. Food and Drug Administration for their implantable generator. The device, named Altius™, delivers patented high frequency Electrical Nerve Block™ technology for patients suffering from chronic pain.
City Surgeon: Can The Cleveland Clinic Save Its Hometown?
Delos M. “Toby” Cosgrove arrived at the Cleveland Clinic in 1975 as an “incredibly poor” 34-year-old dreaming of a life as a cardiac surgeon. As the years passed he became well-known for pioneering the replacement of heart valves, eventually assuming the chair of the department of cardiothoracic surgery.
In 2003 he started looking for a second career, maybe as a venture capitalist in California, figuring that at 62 he was too old to operate. Then he was offered the job as the clinic’s chief executive. Over Cosgrove’s tenure the clinic’s revenues have nearly doubled to $6.2 billion.
True to his venture capitalist ambitions, he’s pushed to spin off companies from the clinic–60 of them in the past decade. Together they have raised $700 million in outside equity funding and created 1,000 jobs.
Cleveland HeartLab Announces Speakers for its Fourth Annual Symposium
Cleveland, OJ, August 28, 2013- Cleveland HeartLab Inc. (CHL), a rapidly growing specialty clinical laboratory and cardiovascular disease management company, today announced that its fourth annual symposium, Where Inflammation Meets Lipids®, will focus on unique models and strategies for assessing, treating and preventing chronic disease.
The symposium, one of the premier meetings of its kind, will be held at the Irving Convention Center in Dallas on Oct. 17-18, 2013.
For the complete story click here.
Neuros Medical Announces Successful Pilot Study
Cleveland, OH, June 4, 2013 – Neuros Medical, Inc., a medical device company announced significant results today from their long term pilot study. The study evaluated the Company’s patented on-demand, high frequency Electrical Nerve Block technology which focused on patients afflicted with chronic amputation pain. This debilitating condition affects nearly one million patients in the U.S. alone.
Results indicated that 7 out of 9 study subjects reported significant pain reduction (defined as 50% or greater) observed for up to 12 months of evaluation. The study demonstrated no safety issues over the treatment period. Study subjects reported an average pain score reduction of 6 to 1 (an 83% pain reduction) based on a 0 to 10 Numerical Rating Scale. Significant pain reduction was reported in 91% of all treatment sessions. In addition, more than half of the subjects discontinued their narcotic pain medication use during the study.
Neuros Medical may have the cure for phantom limb pain
Neuros Medical Inc. may have the cure for phantom limb pain.
By zapping a bundle of damaged nerves with quick bursts of electricity, the Willoughby company can eliminate all or most of the pain that remains long after someone loses a limb, according to results from two clinical trials.
Granted, both trials were small — combined, they included only 15 patients — and the second trial isn't quite finished.
The results have been so consistent that Neuros Medical's many investors could have the option of selling the company before it starts enrolling patients in a much larger pivotal trial, said Stephen Haynes, CEO of Glengary LLC, a venture capital firm in Beachwood that is one of Neuros Medical's many local investors.
EndoSphere showcases its Satisphere Device at OneMedForum
EndoSphere’s Novel Solution Recognized as Game-Changing Innovation for Treating Obesity and Type 2 DiabetesSan Francisco, CA January 8, 2013 - EndoSphere, Inc., a medical technology company focused on the non-invasive treatment of Metabolic Diseases including Obesity and Type 2 Diabetes, announced that CEO James T. McKinley is scheduled to present today at the 6th Annual OneMedForum conference. The January 7-9 conference is being held at the Sir Francis Drake Hotel in San Francisco.
"OneMedPlace is excited to be hosting Jim McKinley and EndoSphere at our 6th Annual OneMedForum,” said OneMedPlace CEO Brett Johnson, “EndoSphere's unique obesity solution makes the company a critical player in the diabetes/obesity space."
Strategic Investors: Yay or Nay?
Large corporations and corporate venture arms in the healthcare space, are armed with cash and eager to find new technologies that might someday fit into their pipelines. Is it a good idea for a startup to bring on board these kind of investors, who have interests in the company beyond getting a good return on their investments? That was the question posed to a panel of entrepreneurs at the Great Lakes Venture Fair last week.
EndoSphere Selected as Fierce 15 Award Winner
Boston, MA (PRWEB) October 03, 2012Today EndoSphere was selected as this year’s Fierce 15 Award Winner, named by FierceMedicalDevices. The “Fierce 15” list identifies “the most promising privately-held medical device companies in the world”. The award was announced live today onstage at the Boston Convention and Exhibition Center during AdvaMed 2012, one of the medtech industry’s largest events.
Juventas Therapeutics doses first patient in Phase II Trial
CLEVELAND, Aug. 20, 2012 - Juventas Therapeutics, a Glengary portfolio company developing novel regenerative therapies for treatment of cardiovascular disease, reports treating the first patient in its STOP-HF trial. The 90-patient, placebo-controlled, randomized double-blinded Phase II study is evaluating the safety and efficacy for JVS-100 in patients with late stage heart failure.
"The initiation of this trial marks an important step forward for Juventas Therapeutics," states Marc Penn, M.D., Ph.D. Founder of Juventas and the Director of the Summa Cardiovascular Institute at Summa Health Systems. "We established the Company based on a hypothesis that cell therapy could be distilled down to factor-based approaches, which would be clinically-beneficial while reducing cost and complexity associated with producing and delivering adult stem cells. It is exciting to see those early scientific discoveries translate into potential therapeutics."
OnShift announces VP of Customer Success
Cleveland, OH- June 25, 2012- OnShift today announced Paul Chilensky as the company’s Vice President of Customer Success. OnShift added the position in response to the significant growth the company is experiencing in long-term care and senior living, as hundreds of providers are turning to OnShift to better manage their labor budgets and drive efficiencies. Chilensky will lead OnShift’s customer implementation, services and support organization, ensuring that clients maximize their financial, operational and clinical outcomes with the use of OnShift.
Early Stage Fund Raising- Trials and Triumphs
Cleveland, OH- May, 15, 2012- Early stage companies must constantly be fundraising and promoting themselves, even though raising capital is always harder than one might initially expect, and doubly so in this difficult economic climate. Those were among the main themes that arose from a panel discussion of successful life science ventures at OVA's May luncheon.
Connected Living- Seniors connecting with Internet Technology
Cleveland OH- June 8, 2012- Connected Living, a Glengary portfolio company is helping seniors get connected to the web. The Massachusetts-based firm is going into senior group homes across the country to teach residents how to surf the Internet, send emails, share photos and videos, and play games online.
SparkBase receives Technology Company of the Year Award
Cleveland, OH- April 20, 2012- The Northeast Ohio Software Association honored several local technology companies with its Best of Tech awards,acknowledging new technologies and new growth opportunities for the region. SparkBase was recognized as Technology Company of the Year Award. Other winners at this year's awards include a select group of outstanding companies ranging from TOA Technologies to Sherwin Williams.
EndoSphere Inc. Receives $1 Million IOLF Award
Columbus, Ohio - April 19, 2012- EndoSphere Inc. today announced that the Innovation Ohio Loan Fund (IOLF) has awarded $1 million to support EndoSphere’s platform of noninvasive, endoscopically-implantable devices that treat metabolic diseases including obesity and type 2 diabetes.
Cleveland HeartLab Launches "it"
Cleveland, Ohio- April 11, 2012- Cleveland HeartLab Inc. (CHL), today announced the launch of a campaign to educate patients and health care professionals about the importance of “it,” or inflammation testing, in determining heart attack and stroke risk. A unique inflammation biomarker panel is at the heart of CHL’s advanced approach to cardiovascular disease risk assessment. “Our new ‘it’ campaign is designed to engage patients about the benefits of inflammation testing and its role in advanced cardiovascular risk assessment like they’ve never been before,” said Marc S. Penn, M.D., Ph.D., F.A.C.C., chief medical officer of Cleveland HeartLab and director of research, Summa Cardiovascular Institute, Akron, Ohio.
Cleveland HeartLab featured at TEDMED 2012
CLEVELAND-April 05, 2012- Cleveland HeartLab Inc. (CHL), a Glengary client company, today announced that its panel of inflammation biomarkers will be featured at next week's TEDMED 2012 conference in Washington. The annual conference, being held April 10-13, explores the issues, challenges and innovations that are shaping the future of health and medicine.
"Our test panels offer broader prognostic coverage than traditional blood tests, enabling a determination of the degree to which someone is at risk for cardiovascular disease." said Jake Orville, president and chief executive of CHL. The company also said it will launch a new campaign focused on inflammation testing next week.
Cardinal Commerce Receives Two International Patents
Mentor, OH -March 13, 2012- CardinalCommerce, the world-leader in enabling remote commerce (internet, mobile, etc.), today announced that both the Japanese and Canadian Patent Offices have issued patents to Cardinal; numbers 4879431 (JP) and CA 2402382 (CA) respectively. Cardinal's SaaS platforms solve the challenges of brand proliferation, distribution channel expansion, and legacy systems inflexibility across the globe and these patents continue to support and protect Cardinal's novel approach and technology.
"Cardinal's intellectual property portfolio has been significantly strengthened and expanded by adding our seventh and eighth countries with these grants." says Michael A. Keresman, III, President and CEO of CardinalCommerce. "The combination of our intellectual property and established technology capability can provide an IP safe haven and can essentially 'future proof' our Customers' needs."
OnShift introduces new release of Staff Scheduling Software
Cleveland, OH, - OnShift today announced the newest release of OnShift staff scheduling and shift management software. The new release introduces Staff Extend open shift recruiting and management capabilities that enable long-term care and senior living providers to fill shifts by accessing and sharing employees from neighboring locations, such as a sister community or facility. In addition, reporting and analytics enhancements are part of the new release, providing peer analytics, greater customization and ease-of-use for labor management analysis.
Minneapolis latest major urban district to adopt VizZle
Shaker Heights, Ohio (January 24, 2012) – Minneapolis School District recently joined other major US public school districts in adopting VizZle, the web-based software that enables K-12 educators to deploy a visual curriculum customized to the individual needs of children with autism and other learning challenges.
Neuros Medical looks to close $3.5M round, begin pilot clinical study
Neurostimulation company Neuros Medical is looking to collect a $3.5 million round of investment that it would use to launch a pilot study of its pain-relief device. Neuros is developing a device that uses a pacemaker-sized generator and an electrode to stimulate nerves to block pain from amputations — sometimes called stump pain — without the use of drugs. Last year, Neuros received a $1.2 million grant from the U.S. Department of Defense to further develop the device.
After earlier this year completing the first successful in-man feasibility study of its pain-blocking device, Willoughby, Ohio-based Neuros plans to conduct a pilot clinical trial that follows a larger number of patients for a longer amount of time, CEO Jon Snyder said.
“We were extremely encouraged by the results of this year’s feasibility study, which proved to us that the device is not only safe but highly efficacious,” said Steve Haynes, managing partner with Glengary.
The pilot study would involve between 10 and 20 patients, and assess the pain-blocking effectiveness of the company’s device over about three months.
SironRx gets $1M in Third Frontier Funding
Cleveland Ohio - October 19, 2011 - SironRX Therapeutics, is finding success in healing wounds. The company received $1 million in Third Frontier funding to continue clinical trials in wound healing.
As clinical trials continue, SironRX will be ramping up a full-time management teams, including a full-time CEO, and operational staff
Connected Living and HP form Partnership
October 13, 2011 - The aim to simplify technology for seniors and their communities has been answered – a partnership between Hewlett Packard (HP) and Connected Living.
Connected Living is readying to pilot a fully “connected” community at the Heritage Des Plaines, a Brookdale Senior Living community in Illinois. Features include slates or tablet computers for every resident.
Cleveland HeartLab signs lease in Midtown
CLEVELAND, Ohio -September 14, 2011- Fast growing Cleveland Heart Lab (a Glengary portfolio company) is leaving incubator space for a new building on Euclid Avenue in MidTown Tech Park - traveling a path charted by backers of the city's health-and-technology corridor.
The two-year-old company, a Cleveland Clinic spinoff, has grown from 8 to 80 employees and is approaching $20 million in annual revenues.
EndoSphere named "Top 10" presenting company at MedVentures 2011
FRISCO, TX--(Marketwire - Sep 14, 2011) - The North Texas Enterprise Center (NTEC) for Technology, a leading regional non-profit organization dedicated to assisting medical technology start-up companies, announced the Top 10 Presenting Companies for the MEDVENTURES 2011 event to be held October 6, 2011. Endosphere, a Glengary client company was selected as on of the Top 10 companies.
CardiOx Corp Closes $8M Series C Funding Round
Columbus, OH - August 31, 2011 - Heart test maker CardiOx Corp has announced the closing of an $8 million Series C funding round. Investments will support the company, which is developing a noninvasive device for detecting right-to-left heart shunts, through commercialization in the U.S. and Europe.
The round was led by Michigan-based Lifeline Ventures, a new investor in Columbus, Ohio-based CardiOx, and included contributions from existing investors Early Stage Partners, Glengary and Reservoir Partners, CardiOx CEO Larry Heaton said.
SironRx receives Third Frontier Grant
Columbus, OH August 29, 2011 – Today the Ohio Third Frontier Commission recommended awards for nearly $30 million in funding, including $991,788 through the Ohio Third Frontier Biomedical Program.
Cleveland HeartLab completes $18.4-million financing round
CLEVELAND, Aug. 22, 2011 – Cleveland HeartLab Inc. (CHL), a leading specialty clinical laboratory and disease management company, today announced the completion of an $18.4-million Series B financing round. Excel Venture Management and HealthCare Ventures, both of Boston, led the round. The company’s existing investors also participated.
EndoSphere Inc. Expands Advisory Team
August 18, 2011 – EndoSphere Inc., a medical technology company developing a platform of endoscopically implantable devices for the treatment of metabolic diseases, including obesity and type 2 diabetes, today announced the appointment of two new members to the company’s advisory team. Amol Soin, M.D. of Physician Investment Group LLC and Ohio Pain Clinic, and Stephen R. Haynes of Glengary LLC, were appointed as advisors to the company.
Neuros Medical Announces Successful Feasibility Study
Cleveland, OH, April 6, 2011 – Neuros Medical, Inc., a medical device company announced promising results today from their recently completed feasibility study. During the study, four of the five patients reported their pain was reduced to zero.
Technology Association of Georgia Selects Whoop
ATLANTA – November 11, 2010 - By their very natures, Technology Association of Georgia’s (TAG) members are always on the forefront of technology advances. That’s one of the reasons why TAG chose Whoop’s mobile platform to enable TAG staff to create cross-platform applications to communicate with members, member companies and the technology community in Georgia.
Lexington Health Care Chooses OnShift
Lexington Health Care sought to improve quality of care while decreasing labor costs in all 10 of its facilities in the Chicago area. OnShift enabled the company to reduce overtime by 71% in less than 60 days.
Neuros Medical awarded $300K
Neuros Medical, Inc. received formal confirmation today that their US Army Medical Research Acquisition Activity (USAMRAA) grant proposal for $300k was selected for award! Added to the DOD award of $1.5 million, this brings a total of $1.8 million in non-dilutive funding to Neuros.
Predictive Service and Kaman Technologies Announce Agreement
Predictive Service, LLC, a global leader in providing predictive maintenance and engineering services (reliability services), and Kaman Industrial Technologies, a leading distributor of industrial parts announced a collaboration between the two companies today, whereby Kaman will distribute reliability services from Predictive Service in the industrial distribution market.
Neuros Medical Award $1.5M from US Dept. of Defense
July 1, 2010 – Neuros Medical, Inc., announced the Applied Research and Technology Development Award was provided by the Defense Medical Research and Development Program (DMRDP). The funding will aid technology development and human clinical research for their neurostimulation therapy, called Nerve Block, focusing on the treatment of chronic residual limb pain which is suffered by nearly one million amputees.
CardinalCommerce receives patent approval
Mentor Ohio- CardinalCommerce, the world-leading enabler of payment brands, today announced that the US Patent and Trademark Office (USPTO) issued patent number US 7,742,967, which covers fundamental aspects to secure payment processing.
Neuros Medical goal: no more pain meds
People who suffer from chronic pain could someday toss their painkillers into the garbage for good. Neuros Medical is developing a device that uses an electrode to deliver high-frequency stimulation to sensory nerves in the peripheral nervous system. Basically, pain signals in the spine just won't make it to the brain.
Monarch Teaching - Visual learning in Autism
Advance Magazine, a professional journal for Speech Language Pathologists, recently ran an article featuring an interview with several of The Monarch Center for Autism’s SLPs about their use of technology and visuals in the classroom.
Connected Living- Governor touts Web-based senior program
West Roxbury Mass.- Simply calling it the Facebook for seniors would be misleading- Connected Living is an important tool in getting a generation online.
The application was developed by MyWay Village, a Quincy Mass based company at provides social networking services to seniors.
Glengary Completes Initial Close for Investors
Glengary LLC announced it has completed an initial closing of a round of institutional fundraising on December 28, with commitments from National City Bank, KeyBank, The Fred A. Lennon Charitable Trust, The Huntington National Bank and Baldwin-Wallace College, among others.