Tag Archives: Medtronic

bioscience

Arizona bioscience industry producing ‘aha’ moments

AZBio Expo 2014 had “aha moments” at every turn. With over 250 entrepreneurs, innovators, business leaders, legislators, scientists and researchers in attendance, the energy was sizzling and the outlook endless. Here are just a few of the event highlights, appropriately, A to Z:

A – Access to Capital is the key. No money. No honey. Capital fuels innovation and commercialization. In the first panel discussion of the day – Funding Paths for Innovators – AZBio chief Joan Koerber-Walker engaged Mary Ann Guerra (BioAccel), Paul Jackson (Integrus Capital/Worthworm) and Kelly Slone (National Venture Capital Association) in a no-holds barred discussion. “The entire ecosystem has changed,” according to Slone. “After the tech bubble burst, available venture dollars have been virtually cut in half.” Guerra explains that only one in 100 will get angel funding – and then only one in 100 will get venture funding. We need to think of new ways to help our startup entrepreneurs get funding.” Jackson urges innovators to think like investors and offers one solution with his online valuation process, Worthworm.

B – Bridging the Gap with the 21st Century Cures Initiative. “No industry has to face the challenges we face to bring a product to market,” says Koerber-Walker. “We have new hope in the 21st Century Cures Initiative. Google it. Watch the videos, See what they are doing. There is exciting stuff happening and some of it is happening in Arizona.”

C — Cure Corridor. Scottsdale’s Mayor Jim Lane shares his pride and plans for the largest concentration of bioscience businesses in the U.S., the Cure Corridor, bounded on one side by the Scottsdale Airpark on the West, and the Fountain Hills Mayo facility on the East, “a major driver of our economy, with $2½ billion in direct economic impact and $3.5 billion in indirect impact.” According to Lane, “Health and wellness are a part of Scottsdale’s identity. We should never stop asking how we can find new answers alleviate pain, restore health and improve the quality of life.”

D – Discovery. Development. Delivery. Valley Fever Solutions CEO David Larwood shared his company’s formula for achieving success in development and funding – The Five R’s:

Right drug.
Right patient.
Right safety.
Right time. (How long before we can sell it?)
Right reimbursent.

E – Epigenetics and Personalized Medicine. Start-up company INanoBio founder and CEO Bharath Takupalli, explained that the genome sequencing market is expected to grow to $10 billion by 2020. With a unique capability to combine nanotechnology and biomedicine, his company is in the lead for building new solutions now. “We aim to develop a $100 ultrafast nanopore-based desktop sequencer – a point-of-care diagnostic” that will help change the face of healthcare, he explains.

F – Funding needs to be the focus for the future. According to a Flinn Foundation/Batelle report, “Arizona has many bioscience strengths and opportunities, but a substantial increase in private and public investment will be needed over the next decade to realize the [Flinn Foundation’s] Roadmap’s goals.” Last year, Arizona bioscience sector attracted $37 million in venture capital investment, up from $23 million from 2012, but that is only a fraction of the $9.8 billion invested nationally.

The goal is to increase the annual investment up to $40 million for seed capital in emerging companies and up to $125 million in venture capital.

G – Genomic advances hold high hopes for positively disruption. Explaining that healthcare premiums are growing at three times the rate of inflation and wages, Frederic Zenhausern, Ph.D., MBA, president of Whitespace Enterprise, says “The new era of precision healthcare (also called personalized healthcare) will provide more accessibility, transparency and health information to improve – dramatically – quality and lower cost over time.” His start-up company, based in Fountain Hills, develops methods for automating and miniaturizing the workflow processing of biological specimens.

H – Henry Ford.“I am looking for a lot of men who have an infinite capacity to not know what can’t be done,” said Henry Ford. So does Robert Penny, M.D., Ph.D., co-founder and CEO of the International Genomics Consortium and founder and CEO of Paradigm. “Phoenix has become the Grand Central Station for all the aggregating and analyzing cancer tissues. We have 10,000 tumors – and the information is publicly available. This will accelerate cancer discovery at a rate faster than ever,” he says. “This is a tidal wave that Arizona has led. Everyone in this room should be grabbing a surfboard and figuring out how to ride it.”

I – IPO: The nation’s top IPO of 2013 is right here in Chandler. With 380 percent growth in shareholder value, Insys Therapeutics, a commercial-stage specialty pharmaceutical company, ended the year with a market cap of $800 million. Darryl Baker, the chief financial officer, explained how the company, founded in 2002 by Dr. John Kapoor, was determined to discover better ways to deliver existing medications to patients. A sublingual fentanyl spray technology delivers treatments to opioid-tolerant cancer patients and holds real possibilities for better helping patients with acute pain, major burns and pediatric issues. In the R&D pipeline now is the development of a pharmaceutical cannabinoid, aimed at easing epilepsy, peripheral neuropathy and cocaine addiction.

J – Jobs: 107,000 bioscience jobs – good-paying and growing. Arizona has nearly 107,000 bioscience jobs, based on 2012 industry data, and the sector contributes an estimated $36 billion in revenue to the state’s economy, according to a study by the Ohio-based Battelle Technology Partnership Practice. Hospitals account for 83,000 of those jobs and $22 billion of the revenue. Arizona’s average annual wage in the bioscience sector is $62,775, 39 percent higher than the private-sector average, the report said. Not counting hospital jobs, the average wage for bioscience jobs jumps to $85,571. (2013 data).

K – Kalos Therapeutics is building a promising platform for future drug discovery. Start-up innovator Michael Kozlowski, OD, Ph.D., chief science officer of Kalos Therapeutics, explains that their focus on transforming the atrial natriuretic family of peptides engages a natural biochemical mechanism. This approach holds promise for people with pancreatic cancer because it results in a more complete response, reduced side effects and improved safety and a longer period of effectiveness.

L – Let’s leverage every resource, strength, collaboration and person we’ve got! Arizona’s bioscience industry is aiming to increase research revenue for institutions statewide by 69 percent over the next decade to $782 million and attract additional anchors for the sector.

M – Medtronic models aggressive, needs-focused growth. Keynote speaker Ron Wilson, vice president and general manager of the Medtronic Tempe campus made it clear that passion for people runs through his veins. Locating a small manufacturing facility here in 1973, the company’s facility today covers 30 acres, has 900 employees and generates $17 billion in revenues. How do they do it? We follow our founder’s vision still: We understand what the unmet needs are and we apply our knowledge for the good of people all over the world.”

N – Next Level. “Arizona has made unprecedented progress over the last decade in developing the talent, building research infrastructure, and growing its base. Taking it to the Next Level will require new collaborative partnerships, forward looking leaders, and aggressive investments from both the public and private private sectors to take our place in the top tiers globally,” shared Koerber-Walker. ”Now is our time. Let’s get it done!”

O – Orphans no more. Valley fever, considered an orphan disease, hits about 150,000 people a year – 60 percent live in central Arizona. Current treatments have major shortcomings, with about 60 percent of those treated being unresponsive. The result is 2,000 serious cases and 150 deaths a year. It affects pets in nearly equal proportion. David Larwood, CEO of Valley Fever Solutions, has some answers. His company is developing Nikkomycin Z (NikZ) as a dramatically superior potential cure for Valley Fever. To help raise awareness and prevention, the Arizona Board of Regents created Valley Fever Corridor project, a public health program led by University of Arizona College of Medicine’s John Galgiani, MD, who is also the chief medical officer for Valley Solutions.

P – Policymakers are on board. Gov. Jan Brewer’s time is coming to a close and it’s time to decide which candidate can bring their best to bioscience. Recognizing that the Arizona bioscience sector is growing at four times the rate of the national average, candidates Christine Jones, Doug Ducey, Fred Duval, Ken Bennett and Scott Smith shared their ideas on how to ramp up funding and revenues in 90-second videos. Koerber-Walker says, “The most important thing we can do this summer is vote in the primaries.”

Q – Cues: Here are a few Q’s for success. Some lessons learned, courtesy of Robert Penny:

Make sure you have:

Complementary skills and expertise
Trust
Interpersonal chemistry (It’s better to navigate bumps in the road with people you trust than people you don’t!)

Pick the right projects:

Big enough to be worthy of your efforts
Complex enough to need partnerships
Audacious enough to move the field

R – Remembering Polio: Can Looking Back Catapult Us Forward? How did we cure the world of polio? What did it take to conquer the most feared disease of the 20th Century? What threatens our world today and how can we continue to keep people healthy with the right vaccines, for the right person at the right time? Gaspar Laca, state government affairs director at GlaxoSmithKime, engaged David Larwood, CEO and president of Valley Fever Solutions (and a person who has been directly affected by polio) and Rep. Debbie McCune Davis, executive director of The Arizona Partnership for Immunization, in a rousing discussion of what’s happening in Arizona today, the mounting threats of the ”vaccine exemptors,” and what we need to do now. (See Vaccines.)

S – Shoes. Did you see those shoes? “Give a girl the right shoes and she can conquer the world!” Enough said.

T – Tucson’s Critical Path Institute creates new tools. A jewel in the bioscience crown – and located right here in Arizona! The Critical Path Institute (C-Path) is a breakthrough organization, creating a new movement: “consensus science.” Keynoter Martha Brumfield. Ph.D, president and CEO, shared what can be achieved when people come together with the belief that a “rising tide floats all boats.” Working to improve the unacceptable 95 percent failure rate in the testing of new drug therapies, C-Path is improving medical product development efficiencies by identifying pathways that integrate new scientific advances into the regulatory review process. Check out their Alzheimer’s clinical trial simulation tool.

U – United we stand. Mayors Jim Lane (City of Scottsdale) and John Lewis (Town of Gilbert) will join Koerber-Walker and an Arizona bioscience-business contingent next week at the 2014 BIO International Convention in San Diego (June 23-26), the world’s largest biotechnology gathering. They will surely scoop up new ideas, new connections – and with any luck, new investment!

V – Vaccines: Get ‘em! Talk about ‘em. Challenge the myths. Explain the realities. Polio. Measles. And whooping cough today. Without proper vaccinations, whooping cough (pertussis) could be the polio of our time. “As science-minded people, the best thing you can do is activate conversations about the importance of vaccinations. Here’s some help: Why immunize?

W – White Hat event brings in national investors. (Apply by July 15th.) “AZBio’s White Hat Investor’s Conference is the first ever life science specific investor conference to be held in Arizona,” says Koerber-Walker. “Kelly Slone [of the National Venture Capital Association] has been an amazing partner to bring this together along with the state bioscience association leaders from across the Rocky Mountain Southwest Region. Investors and investment firms from across the country will be here, so get involved. Even if you feel like you are not ready yet, take the leap and apply to present. “

X – “X” marks the spot for our next big gathering. Wear your White Hat! The West was won by innovators, investors, and prospectors who understood the value of discovery and accepted the challenge of investing in new frontiers. Meet a new generation of biotech and healthcare pioneers at White Hat Investors 2014, the first annual biotech and healthcare investor conference that showcases the best of the Rocky Mountain & Southwest Region.

Bioindustry Associations from across the Rocky Mountain and Southwest Region are coming together to present an opportunity for Angels, Venture Capitalists and Strategic Investors to connect with the best biotech and healthcare investment opportunities from across the Rocky Mountain & Southwest states at White Hat Investors 2014 in Phoenix, Arizona on September 17 & 18, 2014.

Presenting Companies will be selected from the region’s emerging innovator leaders in the fields of:

Diagnostics
Therapeutics
Medical Devices
Health IT

Y – Young Talent is being cultivated. We got it! With nearly 50 abstracts accepted and student presenters presenting at the Expo, Koerber-Walker got it right when she said, “These young people are going to be working on things that we can’t even begin to imagine!” Arizona’s tremendous mentoring people and organizations are sharing knowledge, support and inspiration. For example University of Arizona student Keeley Brown is destined to help the world crack the code on genetically modified foods and farming. (Her presentation was the “Epigenetic Effects of Transgenic Manipulation in Glycine Max (Soybeans).

Zzzzzzzzz – No one fell asleep at this conference! Catherine Leyen, founder and CEO of start-up RadiUp, says she comes to AZBio to stay abreast of the action, connect with like-minded people and soak up inspiration. Her verdict of AZBIO Expo 2014? Mission accomplished!

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Az Business honors healthcare leaders

Each year, Az Business magazine hosts the Healthcare Leadership Awards to honor the women, men and institutions that bring excellence and innovation to Arizona’s healthcare system. Here are the winners and finalists who were chosen by a panel of industry experts and were recognized at the 2014 Healthcare Leadership Awards on Thursday, April 10 at the Ritz Carlton in Phoenix. See photos from the event here or on our Facebook page.

BIOSCIENCE COMPANY
Winner: Translational Genomics Research Institute (TGen)
TGen has made great strides in the field if genomics medicine. TGen researchers work to help physicians prescribe drugs that are designed more intelligently, work more effectively and have fewer toxic side effects. They have received numerous grants to support research into brain cancer and brain injuries, advanced cancers, Parkinson’s, rare childhood disorders, and more.

Finalists:
Barrow at PCH
Sonora Quest

COMMUNITY OUTREACH/EDUCATION
Winner: Barbara Kavanagh, Arizona Myeloma Network
Kavanagh’s mission is to change the lack of information and support resources for myeloma cancer by forming the Arizona Myeloma Network and the Living with Myeloma Conference, which has grown to 300 people. She also introduced the Pat and Bill Hite Cancer Caregivers Education and Support Program for caregivers to receive support and answers.

Finalists:
Catherine Ivy, Ben and Catherine Ivy Foundation
Kathleen Goeppinger, Ph.D., Midwestern University

HEALTHCARE EXECUTIVE
Winner: Robert L. Meyer, Phoenix Children’s Hospital
Meyer is credited for the rapid and significant turnaround of Phoenix Children’s Hospital from the edge of financial failure to a successful $588 million expansion that made the hospital into one of the largest pediatric medical centers in the country. PCH is ranked in U.S. News & World Report’s Best Children’s Hospitals.

Finalists:
Tim Bricker, Chandler Regional and Mercy Gilbert
Mary Lee DeCoster, Maricopa Integrated Health System
Tony Marinello, CEO of Mountain Vista, IASIS Healthcare
Ed Myers, St. Luke’s Medical Center, IASIS Healthcare

HEALTHCARE ADVOCATE
Winner: Dr. John Chen, Maricopa Integrated Health System
Serving the community’s most vulnerable residents, Chen has helped thousands of patients within the Maricopa Integrated Health System. He sees patients who are in urgent need of treatment because of their lack of dental insurance or location in third world countries. He promotes dental care and hygiene to help prevent serious diseases.

Finalists:
Dr. Randal Christensen, Crews ‘n’ Healthcare
Gerri Hether, Orchard Medical Consulting

INSURANCE PROVIDER
Winner: Blue Cross Blue Shield of Arizona
Marking its 75th anniversary in Arizona, BCBSAZ is committed to improving the quality of life for all Arizonans. The company focuses on providing the best value in health insurance as well as outside programs targeted to children and their families to help reduce childhood obesity.

Finalists:
Health Net of Arizona
UnitedHealthcare of Arizona

LEGAL ADVOCATE
Winner: Kristen Rosati, Polsinelli
As an attorney dedicated to the healthcare industry, especially to healthcare privacy, health information exchange and clinical research, Rosati has written 12 books, 30 articles and made 200 presentations on healthcare topics. She also helped establish two nonprofits in Arizona that support health information exchange and health information technology.

Finalists:
Richard Mallery, Snell and Wilmer
Martin L. Shultz, Brownstein Hyatt Farber Schreck

MEDICAL CENTER OR HOSPITAL
Winner: Scottsdale Healthcare
As a nonprofit, Scottsdale Healthcare not only employs 6,500 staff members, but also is comprised of 1,400 volunteers who donate more than 155,000 hours of service each year. They are the largest employer in the City of Scottsdale and is known for its innovative medical technology, research and patient care.

Finalists:
Banner Good Samaritan Medical Center
Cancer Treatment Centers of America
St. Joseph’s Medical Center
St. Luke’s Medical Center

MEDICAL COMPANY OF THE YEAR
Winner: Ventana
Ventana is driving personalized healthcare through the development of “companion diagnostics” to identify patients most likely to respond favorably to specific therapies. Ventana has worked is currently engaged in more that 150 collaborative projects to develop and commercialize companion diagnostics globally.

Finalists:
Medtronic
W.L. Gore and Associates

MEDICAL RESEARCH COMPANY
Winner: Banner Alzheimer’s Institute
BAI has undergone a major prevention trial to evaluate a treatment in cognitively healthy older adults at the highest known genetic risk for developing Alzheimer’s disease at older ages. The study is part of the Alzheimer’s Prevention Initiative API, an international collaboration led by BAI to accelerate the evaluation of promising but unproven prevention therapies.

Finalists:
Banner MD Anderson
University of Arizona Cancer Center

PHYSICIAN OF THE YEAR
Winner: Jimmy Chow, IASIS Healthcare
Chow improved the field of orthopedics by helping to design and teach a hybrid technique of a minimally invasive total hip replacement where the surgeon builds a new hip from inside the body. This surgery results in no post-operative limitations and many patients are discharged within 24 hours. Chow is one of 10 surgeons in the world to perform his surgery.

Finalists:
Karen Corallo Chaney, Magellan Health Services
David Notrica, Phoenix Children’s Hospital

RESEARCHER OF THE YEAR
Winner: Venkatesh G. Ramaiah, Arizona Heart Hospital
Ramaiah, the medical director and director of vascular and endovascular research, successfully created the “un balloon,” which is used to remodel thoracic endografts without the wind sock effect. This products was able to be marketed and sold.

Finalists:
David Jacofsky, CORE Institute
Glen Weiss, CTCA

LIFETIME ACHIEVEMENT
Linda Hunt, Dignity Health
Hunt, who has served as the leader of Dignity Health in Arizona since 2012, has taken a leadership role to advance healthcare and the biosciences for the people of Arizona. She has worked diligently with legislators, business leaders, educators, scientists and community organizations in order to identify, formulate, and support policies that will give Arizonans better healthcare and raise the bar of knowledge.


Click here to see all the photos.

PaulRobinson

Excellence Headquarters Names New CIO

Excellence Headquarters™, Management Company for The CORE Institute® and other physician practices, announced that Paul Robinson has accepted the position of Chief Information Officer, providing vision and leadership in all information technology initiatives. In his role, Robinson and his team of programmers and IT architects will direct the planning and implementation of enterprise information technology systems in support of The CORE Institute’s business operations as the orthopedic group continues to grow nationally.

“Paul will play an important role in ensuring that our providers and employees utilize the best technology systems available to provide to our managed practices and their patients with best-in-class care and services,” said Dr. David J. Jacofsky, Chairman and CEO of Excellence Headquarters.  “Adding someone with Paul’s team’s experience and talent to our leadership team demonstrates our commitment to our providers, employees and patients as we continue to pursue our national expansion efforts.

“Excellence Headquarters is a management platform that allows for increased practice performance  and provides integrated IT solutions for management of quality, marketing, evidence-based practice, and at risk contract strategies for its managed practices,” said Robinson. “I am very excited to lead this talented team not only with Excellence Headquarters, but The CORE Institute, and provide technology to best serve our patients.”

Prior to joining Excellence Headquarters, Robinson spent 20+ years in information technology roles, specifically designing and developing software to meet healthcare needs.  Most recently, as Vice President of Product and Software Development at PhDx Systems, he helped in the company becoming the leading provider of clinical data management software and services designed to meet the unique research needs of orthopedic and spine companies. Robinson played an instrumental role in the development of clinical management software for device manufacturers such as Medtronic, Stryker and NuVasive.

medical.research

City of Peoria honors BioAccel

BioAccel has received the City of Peoria’s 2013 Economic Development Award for the development and management of BioInspire, a medical device-focused accelerator program. MaryAnn Guerra, BioAccel’s CEO, and Thomas Rainey, Director of BioInspire, will accept the award on behalf of BioAccel’s staff, Board and advisors at the Peoria Chamber of Commerce’s Annual Awards Celebration, May 22, 2013.

A City of Peoria-funded initiative, BioInspire was launched by BioAccel on September 25, 2012. To date, it has supported the recruitment of six new portfolio companies providing advisory services, funding, individual and common laboratory space and support services at the 6,800-square-foot facility in Peoria. Arizona Medical Systems, Hildeez, Kulira Technologies, Nasseo, Yolia Health and Stimwave Technologies are located at BioInspire.

“The next several years will be exciting as the City continues to execute its Economic Development Implementation Strategy and nurture this public-private partnership to support the region’s bioscience industry,” said Scott Whyte, the City of Peoria’s economic development services director. “As the clients at BioInspire grow and prosper, they will graduate from the resource rich accelerator program into their own commercial space within the City. BioAccel was chosen for this award based on their leadership and execution in assisting us in stimulating the local and regional economy, and planting the seeds for future growth.”

BioInspire’s goal is to create knowledge industry jobs and entrepreneurial wealth by supporting viable new medical device companies.

“Portfolio companies will play a vital role in Peoria’s economic development through their scalable businesses and the products derived from their innovative research. BioAccel provides critical support for that effort by providing proof-of-concept and seed funding, flexible office and lab space, and business and regulator advisory services. This significantly increases their chances of success,” Guerra said.

BioAccel’s interdisciplinary team manages a rigorous client selection process complemented by an expert advisory council that approves final selection of prospective company applications. The Council of Advisors includes senior managers from Medtronic, Covidien, West Valley Bancorp, HLM Partners, the City of Peoria and capital sources among others.

BioAccel was established to stimulate the development of technologies and spin-off companies based on research conducted at other public and private institutions and by local entrepreneurs.

BioAccel is a nonprofit organization dedicated to translating life science discoveries into new business opportunities that drive economic development. Since its founding in 2009, it has invested close to $2.5 million into companies and projects that have secured over $12.6 million in follow on funding thus far. For more information visit www.bioaccel.org.