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Case Western Reserve University, in collaboration with NDI Medical, SPR Therapeutics, and Valtronic Technologies, Receives $3 Million from Ohio Third Frontier Commission

Case Western Reserve University, in collaboration with NDI Medical LLC, SPR™ Therapeutics, and Valtronic, has been awarded a $3 million grant from the Ohio Third Frontier Commission to commercialize a neurostimulation technology platform designed to treat multiple clinical indications with significant unmet needs, including pain and muscle paralysis.

NDI Medical Launches New Portfolio Company: Deep Brain Innovations, LLC

NDI Medical, LLC, a venture and commercialization firm that funds and develops innovative neurodevice technologies, has launched its next portfolio company, Deep Brain Innovations, LLC (DBI). DBI will commercialize its groundbreaking technology that is designed to optimize deep brain stimulation (DBS) therapy for patients with Parkinson’s disease. Currently available DBS therapy is effective in treating Parkinson’s disease and generates more than $275 million in annual sales. However, NDI has validated an opportunity to further expand this market with a revolutionary approach to DBS.
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SPR Therapeutics & NDI Medical Awarded $2.77 Million Grant

SPR Therapeutics and NDI Medical have received a $2.77 Million Peer Reviewed Orthopaedic Research Program Clinical Trial Award to advance SPR’s peripheral nerve stimulation (PNS) therapy to relieve post-amputation pain.  The research grant is from the U.S. Department of Defense office of the Congressionally Directed Medical Research Programs, which funds “innovative, high-impact, clinically relevant research to advance optimal treatment and rehabilitation from musculoskeletal injuries sustained during combat or combat-related activities.”
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Neurotech startup SPR Therapeutics readies for launch of pain relief device

Assuming all goes well in a federal regulatory review, neurotechnology startup SPR Therapeutics expects to begin commercializing its first product, a pain relief device, by the end of the year.

Year-old SPR (it stands for “stimulation for pain relief”) is one of the newest members of the Cleveland area’s growing cluster of neurotechnology firms. The Cleveland area — along with cities like Raleigh, North Carolina; Chicago; and Shanghai, China — was identified in 2009 as a “region to watch” among growing neurotechnology cluster areas by trade group the Neurotechnology Industry Organization (NIO).
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Neurothechnology firm Checkpoint Surgical raising $3M series B

Checkpoint Surgical, which has developed an intraoperative nerve stimulation device, is about a third of the way to completing a $3 million series B investment round.

The suburban Cleveland company hopes to close the round by year’s end. Checkpoint would use the funding to boost its sales and marketing staff, more than doubling its employees from seven to 15, and maybe even a few more, CEO Len Cosentino said.
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Highland Hills firm has its nerve, but in a good way

Turning a $200,000 investment into $42 million wasn’t enough for NDI Medical LLC.

Since 2008, when NDI sold its first spinout company to Medtronic Inc. for more than 200 times its initial investment, the neurological device developer in Highland Hills has made several moves that illustrate the company’s bigger goal: To become a vehicle for creating startups, helping them grow and, of course, making more money.
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NDI Medical LLC raises $8 million for venture fund

ndi-news-1(1)A neurostimulation technology company in Highland Hills has started a venture fund meant to finance the creation of new neurological devices.

NDI Medical LLC last week received a $2 million grant from the Ohio Third Frontier program to help it create the NDI Healthcare Fund. Other investors contributed another $6 million, according to an announcement from the company. The fund will invest the money “in both seed-stage neurodevice companies and technologies,” according to a statement from NDI Medical CEO Geoff Thrope.
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