Tag Archives: Stimwave

back.pain

BioAccel Adds Stimwave Technologies To Incubator

BioAccel and the City of Peoria announced that BioInspire has accepted a sixth company, Arizona based medical device startup Stimwave Technologies, Inc., into the medical device incubator facility in Peoria,.

Stimwave Technologies has received a $300,000 investment from BioAccel’s New Venture Development Program and will be a resident of the new incubator facility in Peoria, where it will utilize BioInspire’s exceptional laboratory spaces and advisory services.

Stimwave Technologies is a medical device company that develops that has developed  novel wirelessly powered microimplantable stimulators for the neuromodulation field for pain relief.  The company’s first novel device is a microstimulator placed through a needleless implantable device designed for patients suffering from chronic back and leg pain. Currently only wired solutions are available. The new device is 99% smaller in volume that the next smallest commercially available wired product on the market, and takes 75% less time for the clinician to place.

BioInspire, managed by BioAccel in partnership with the City of Peoria, is designed to foster and facilitate the development of medical device companies and to stimulate the development of products and spin-off companies in Peoria based on research conducted at other academic, public and private institutions.

“We are extremely pleased to be welcomed into the Bioinspire incubator to continue to apply our innovative technology to research new indications and support our transition to commercialization for our pain relief product,” said Laura Tyler Perryman, Founder and CEO of Stimwave. “Our commitment to superior patient care is unparalleled, and our goals are aligned with BioAccel to achieve the vision and purpose of BioInspire,” she said.

“The goal is to create knowledge-industry jobs and new companies that will drive and accelerate local economic development as well as bring novel medical devices more efficiently through the commercialization process,” said MaryAnn Guerra, CEO of BioAccel. “Stimwave is the kind of company that will drive job creation and growth through their scalable business plans and the products derived from their innovative research and accelerated commercialization.

“BioAccel is proud to be able to provide critical support for that effort through BioInspire, by providing funding, flexible office and lab space, business and regulator advisory services and expert mentoring critical to early stage companies.”

BioInspire’s Director Tom Rainey said that adding another company to the incubator space is a great sign of early success.

“We’re very excited to add a sixth company to the BioInspire family,” he said. “Considering that the incubator only opened in September, we are pleased with the number and quality of companies that have located within our space. It shows that BioInspire is achieving the goal of bringing growth and innovation to Peoria through these important medical device companies.”

Scott Whyte, City of Peoria Economic Development Services Director, said he is pleased with the success of BioInspire and glad to see more companies taking advantage of its resources.

“We’re delighted to welcome Stimwave to Peoria, and to see the BioInspire initiative take flight,” Whyte said. “As the client companies at BioInspire grow and graduate from the incubator program we are prepared to support their move into other commercial space within Peoria,” Whyte said. “This will serve as a significant economic engine for our local and regional economy, planting the seeds for future growth.”

ACA FAST Grants promote growth

ACA Awards FAST Grants To Small Businesses

This week 25 small businesses were awarded $184,832 in FAST Grants by the Arizona Commerce Authority. The ACA hopes that this will initiate the commercialization process. The grants ranged from $5,000 to $7,500 for each company and may be used toward reviews of technology, commercialization feasibility studies and commercializations assistance.

According to the president and CEO of the Arizona Commerce Authority Don Cardon, “This is a seed investment the ACA is making towards startup companies which we believe will assist the company advance in the crucial steps towards bringing the idea to the market place.” Don Cardon states that he is pleased with the amount of responses received for the program and believes that they are a promising glimpse into the future of Arizona.

Since 2008, Arizona has seen a 57 percent increase in entrepreneurial activity, ranking 5th in the U.S. for business start-ups. Programs such as the ACA’s FAST Grants awards have been crucial in the advancement of small businesses.

Executive director Laura Tyler of Stimwave Technologies Inc. said, “We are so thankful to the AZ Commerce Authority for their support of Stimwave’s efforts in expanding the reach of our innovative wireless neuromodulation platform.” Tyler also added that the grant will allow Stimwave to complete market investigations and device planning as well as local research partners like TGen/TD2 and Barrow’s Neurological Institute. This will further their ability to provide effective and minimally invasive therapies for cancer and brain disorder patients.

The co-founder and chief technology officer of Acudora, Inc. stated that the grant will be used to assist their continued commercialization efforts. Mark Banister, founder and chief technology officer of Medipacs said, “This grant will provide Medipacs the ability to finish market research and our product launch plan for a medipacs device that can be launched in the Veterinary market late this year. This product will help build value for our investors and jobs for Arizona.”

Besides awarding FAST Grants, the ACA also secured $18.2 million for the Arizona Innovation Accelerator Fund — A fund that helps stimulate business growth, capital investment and the creation of jobs in Arizona. The ACA’s second Arizona Innovation Challenge is also underway and semi-finalists will be announced in early March.

2012 Arizona FAST Grant Recipients
Acudora, Tucson, $7,500
Arbsource, Tempe, $7,500
Arizona Cancer Therapeutics, Tucson, $7,500
Castle Biosciences, Inc., Phoenix, $7,500
Colnatec, Gilbert, $7,500
Cyclone ADG, LLC, Tucson,$7,500
Earth Knowledge, Tucson, $7,440
ECOmplete, LLC, Chandler, $7,500
Fennova Corp., Tucson, $5,000
inXsol, Phoenix, $7,500
Kinetic Muscles, Inc., Tempe, $7,500
Latitude Engineering, LLC, Tucson, $7,440
Medipacs, Inc., Tucson, $7,500
MSDx, Inc., Tucson, $7,500
NEST Energy Services, Prescott Valley, $7,500
Power Gold, Phoenix, $7,500
Prime Solutions Group, Goodyear, $7,500
Provista Diagnostics, Inc., Phoenix, $7,500
Quaesta Instruments, LLC, Tucson, $7,452
Reply Buy, Inc., Scottsdale, $7,500
Science Tomorrow, LLC, Phoenix, $7,500
Serious Integrated, Chandler, $7,500
Siegel Consulting, LLC, Scottsdale, $7,500
Stimwave Technologies, Inc., Scottsdale, $7,500
VisionGate, Phoenix, AZ, $7,500

For more information on the Arizona Commerce Authority and its current projects visit azcommerce.com