Medical Device, NVDP
Stimwave TechnologiesWebsite: http://www.stimwave.com
The company’s freedom-8 wireless neurostimulators provides the world’s first passive microsize device platform for pain management treatment. There are no internal batteries, it is compatible with MRI, and implantation is achieved with a simple needle insertion.
Rather than implanting the power source and programming unit, the Freedom-8 is powered using a low-cost external ergonomic stimulator. No longer will the patient need surgery in order to change the programming or replace the battery. Most complications associated with the standard surgery are related to the bulky battery and continuous manipulation of the long leads. These issues should disappear with the Freedom-8.
The neuromodulator market includes applications in the spinal cord, brain, muscle, and other soft tissue. Spinal cord stimulators (scs) for failed back surgery syndrome patients represented 60% of the total worldwide neuromodulator market which was assessed at $3.5 Billion. The worldwide market has an estimated 25% annual growth rate. The reimbursement cost is so high that only 1 out of 10 FBSS patients receive reimbursement for their SCS system. Stimwave’s lower cost alternative will grow the market size by making the technology more accessible to those who otherwise could not afford the treatment.
Ready to Grow
- Initiate Gen 2 clinical trials
- Receive iso-13485 certification
- ce mark by end of 2012
- Initiated Gen 3 IDE clinical trials in 2013
- Develop additional user interface devices for ease of use and ease of programming.
Leading the team is the CEO, Laura Tyler Perryman. Ms. Perryman received her BS in aeronautical engineering at Embry-riddle aeronautical university. She received her MBA at Pepperdine, MS in electromechanical engineering at cal-state Northridge and is currently pursuing her Phd at Arizona state university in biomedical engineering.
Ms. Perryman is a serial entrepreneur with successful exits and 24 years engineering experience with fortune 500 companies and startups associated with the commercialization