Five startups from across the U.S. aim to improve patient care through devices, software and care management
MINNEAPOLIS, MN – Nationally ranked startup accelerator gener8tor has announced the five companies participating in its gBETA Medtech Spring 2021 cohort. These startups are creating everything from a noninvasive wearable device to monitor patients with hydrocephalus to a platform that simplifies medical device service events, purchases and compliance practices.
“Mayo Clinic is proud to support gBETA Medtech in their mission to identify and accelerate emerging companies with high potential to address healthcare’s biggest challenges,” said Bart Emery, Corporate Development Manager at Mayo Clinic. “gBETA’s commitment to diversifying and increasing access to entrepreneurship is a model for other organizations committed to advancing medical innovation.”
gBETA Medtech is a free, seven-week accelerator that works with medical devices, healthcare-related software, biotech and diagnostics startups for no fees and no equity. Each gBETA program is capped at five companies to ensure meaningful engagement with sponsors and other resources. Participants receive intensive, individualized coaching and access to gener8tor’s national network of mentors, customers, corporate partners and investors. The program is designed to help startups gain early customer traction on their product or idea, and establish metrics that can make them competitive applicants for full-time, equity-based accelerators or seed investment.
More than 170 startups from all over the globe applied to participate in the gBETA Medtech Spring 2021 cohort. Each applicant recognizes Minnesota as a healthcare hub and is eager to make strong connections in the market.
“In the last year, we’ve seen the number of applicants triple,” said Oscar Brooks, Senior Product Upstream Manager at Boston Scientific. “We look for startup companies and individuals who are eager to unlock new opportunities to transform patient care and uncover meaningful innovations that will make a difference for patients around the world.”
gBETA Medtech’s Spring 2021 cohort kicked off on April 8 and will work with the gener8tor team over the course of seven weeks to meet mentors, gain customer traction and pitch to investors. Due to COVID-19, the Spring 2021 program is being held virtually.
The program will culminate on June 7 at the gBETA Medtech Pitch Night, which will highlight each of the five companies. This virtual event will be an opportunity for the public to listen and learn more about the startups and network with the founders and other community members. For more information and to RSVP, visit www.gbetamedtech.com/pitch-night.
gener8tor is part of a network of 13 accelerators across the country working with the Division of Research, Innovation and Ventures (DRIVe), part of the Biomedical Advanced Research and Development Authority (BARDA) within the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services. This network supports early-stage companies throughout their journey – from identifying a need to product launch – to help them overcome their biggest business, marketing and operational hurdles, and achieve success sooner.
“Our partnership with gBETA Medtech and University Enterprise Laboratories (UEL) recognizes and stimulates innovation not only in Minnesota, but also the entire region,” said DRIVe Project Officer David Winter. “This partnership allows BARDA to access an untapped source for health security innovation that supports our nation’s strategic interests. We are excited about the upcoming spring 2021 gBETA Medtech cohort and look forward to working with this new group of companies.”
gBETA Medtech is a program of UEL and gener8tor. gBETA Medtech’s founding sponsor is Boston Scientific and the cohort receives mentorship support from Mayo Clinic, University of Minnesota and Medical Alley Association. UEL and gener8tor also receive support through a cooperative agreement with BARDA DRIVe, under Contract No. IDSEP190054.
The strategic partnerships that gBETA Medtech has put in place for the success of gBETA Medtech illustrate the importance of Minnesota within the healthcare sector.
Frank Jaskulke, Vice President of intelligence at The Medical Alley Association, said, “By bringing leaders from the Mayo Clinic, Boston Scientific, BARDA and the University of Minnesota together with entrepreneurs and investors to advance health innovation, gBETA medtech proves Medical Alley is the Silicon Valley of healthcare.”
gBETA Medtech Spring 2021
Rhaeos’ FlowSense noninvasive wearable platform technology initially targets hydrocephalus, a life threatening condition caused by an abnormal accumulation of cerebrospinal fluid. Implantable shunts, the gold standard treatment, often fail, leading to multiple trips to the emergency room and expensive imaging used for diagnosis. FlowSense is a thermal flow sensor that is mounted on a patient’s skin overlying the shunt to detect shunt flow in a matter of minutes, bedside, without capital equipment. Rhaeos has raised $2.3M in financing, received FDA breakthrough designation, published clinical data in Science and Nature family journals, and is on track for initial market entry in Q1 2022.
OpalGenix‘s patented genotype-based opioid risk prediction and precision support platform, GPS-Opioid, empowers clinicians to personalize therapy for patients who require opioids for pain. In the U.S., 30 million adult and pediatric patients are given opioids for pain relief after surgical procedures annually. Each person responds differently to opioids based on genetics and clinical factors, making medication management challenging for physicians. GPS-Opioid assesses each patient’s risk of opioid adverse effects and personalizes opioid selection and dosing to maximize pain relief and minimize opioid-related safety risks and costs. OpalGenix has recruited an accomplished startup CEO, completed pediatric clinical studies, obtained USPTO and European patent claims, and received notice of intent to fund an NIH STTR grant proposal.
Breathe99‘s B2 Mask offers industrial-grade protection in a comfortable, lifestyle design ideal for everyday use. Infectious diseases, wildfire smoke and ambient air pollution represent some of the most pervasive environmental health risks that require respiratory protection. However, there is still a need to improve the aesthetics, comfort, utility and protective capabilities of masks. The B2 Mask’s patent-pending design offers an ergonomic face seal, can be personalized with stylish fabric overlays and uses high-efficiency filters to provide unparalleled protection. Breathe99’s B2 Mask has been recognized as one of TIME’s Best Inventions of 2020 and has been shipped to over 22,000 happy customers globally.
UptimeHealth‘s online platform simplifies medical equipment service events, purchases and compliance practices through automation and predictive analytics. Management of medical equipment is currently paper-based and inefficient for small healthcare providers. UptimeHealth’s software allows administrators and operators at healthcare facilities to manage compliance tasks, gain access to actionable data to increase operational efficiencies, and tap into the largest network of qualified biomedical technicians to support their medical devices. UptimeHealth has 150+ facilities and 1,300+ technicians on the platform, and generated $150k+ in revenue since launching in 2018.
Xtraction Corp‘s patented sleeve technology advances minimally invasive surgeries by making specimen and organ retrieval easy and efficient. As minimally invasive surgeries advance towards smaller incision holes, removal of specimens and organs becomes more challenging. Xtraction Corp’s novel technology allows surgeons to remove large specimens or organs out of small incisions, reducing procedure time and improving the recovery of patients. Xtraction Corp has patented the technology, designed and developed prototypes, and tested the device in simulated surgical environments.
gener8tor’s turnkey platform for the creative economy connects startup founders, musicians, artists, investors, universities and corporations. The gener8tor platform includes pre-accelerators, accelerators, corporate programming, conferences and fellowships.