Navigation Links
JumpStart Ventures Invests in Cleveland-based SPR Therapeutics
Date:4/26/2011

CLEVELAND, April 26, 2011 /PRNewswire/ -- JumpStart Ventures, a nonprofit that invests in and partners with innovative, early-stage companies in Northeast Ohio, announced an investment commitment of $250,000 in SPR™ Therapeutics. The one-year-old Beachwood, Ohio-based company is commercializing its proprietary neurostimulation therapy for pain relief.

(Logo: http://photos.prnewswire.com/prnh/20060209/CLJUMPSTARTLOGO)

SPR Therapeutics is a spinoff of NDI Medical, LLC, which developed the technology and licensed it to the startup.  The company's first product, the SMARTPATCH™ System, will serve the $150 billion pain market using its Intramuscular Nerve Therapy™.  The Smartpatch external stimulator delivers an electrical signal to the Smartpatch electrode placed in the muscle. The electrical signals stimulate the target nerve within the muscle, thereby exercising the muscle to treat the pain.

Meant for use up to 30 days, Smartpatch has also demonstrated long-term pain relief. The company's series of clinical feasibility studies demonstrated that, at the end of the short-term therapy, 84 percent of patients experienced a significant reduction in pain and 40 percent were pain free.  After completing the Smartpatch therapy, 78 percent of these patients continued to have significant pain relief.

"Neurostimulation is a growing market being driven primarily by technology advancements that enable improved clinical outcomes," said Michael Lang, the JumpStart Venture Partner now working with the company. "This field is of considerable interest to medical device manufacturers and, since the leadership of SPR Therapeutics is well-versed in neurostimulation, the company is positioned to move quickly down the commercialization path."

The experienced SPR Therapeutics team is led by Maria Bennett, former Vice President of Clinical Affairs at NDI Medical, who helped develop a neurostimulation system that was acquired by Medtronic in 2008 for $42 million.  She is also an alumna of Springboard Enterprises, the leading venture catalyst organization for women-led businesses.

"Our Smartpatch pain therapy has the potential to revolutionize the field of pain management," said Bennett, SPR Therapeutics President and CEO.  "I am thrilled to have JumpStart Ventures' support in our mission to provide clinicians with a simple and effective therapy to reduce or eliminate their patients' pain and ultimately improve their patients' quality of life." 

SPR Therapeutics has received Small Business Innovation Research grants from the federal government and a $100,000 grant from the Innovation Fund.  The investment represents JumpStart Ventures' 76th investment in its 54th company.

About SPR Therapeutics

SPR™ Therapeutics is a medical device company, commercializing pain therapies utilizing its proprietary neurostimulation products. The company seeks to provide clinicians with a simple and effective therapy to reduce or eliminate their patients' pain and ultimately improve their patients' quality of life. The first product to be commercialized is the SMARTPATCH™ System, a short-term, minimally invasive system that is simple to deliver and can be used for up to 30 days to stimulate a peripheral nerve peripherally to relieve pain. SPR Therapeutics is developing a pipeline of neurostimulation pain therapies that will exploit the same physiologic mechanism of action, proprietary technology, and clinical approach.

About JumpStart Ventures

JumpStart Ventures invests in innovative, Northeast Ohio-based, early-stage companies that are positioned to excel in high opportunity markets. It guides entrepreneurs with high potential businesses down the path toward wealth creation by providing seed capital, experienced advisors, and a network of vital resources. JumpStart Ventures is the investment arm of JumpStart Inc., a non-profit transforming the economic impact of entrepreneurial ventures and the ecosystems supporting their growth.


'/>"/>
SOURCE JumpStart Ventures
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. JumpStart Ventures and Cleveland Clinic Invest in SironRX Therapeutics
2. JumpStart Ventures Invests In and Provides Entrepreneurial Assistance to Drug Development Company
3. JumpStart Invests in Checkpoint Surgical
4. Michael J. Fox Foundation Awards Up to $3 Million to Industry Teams to Jumpstart Promising PD Drug Development
5. MEDomics Announces a Growth Capital Investment from SpaGus Ventures LLC and Gary Augusta Joins MEDomics as Chief Operating Officer
6. Leader Ventures Supports Innovative Drug Discovery Company Carmot
7. PharmaVentures Appoints Paul Phull as Senior Director
8. SI-BONE, Inc. Closes $11.0 Million Financing Led by Skyline Ventures
9. Sangon & Bio Basic Inc. Closes $10 Million Round of Investment by Qiming Ventures
10. BIO Ventures for Global Health Opens San Francisco Office; Hires New Senior Staff
11. iPierian Closes $22 Million Series B Financing Led By Google Ventures
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... CITY, Calif. , March 28, 2017 /PRNewswire/ ... company focused on the development and commercialization of ... pain, announced that the European Medicines Agency (EMA) ... sublingual tablet, 30 mcg) Marketing Authorisation Application (MAA) ... of the MAA is underway. The MAA for ...
(Date:3/28/2017)... Mass. , March 28, 2017 ... company developing innovative therapeutics that address significant unmet ... a patent from the Japan Patent Office (JPO) ... connective tissue growth factor (CTGF) for the treatment ... limited to skin fibrosis and proliferative retinopathy (Japanese ...
(Date:3/28/2017)... , March 28, 2017 The ... reach USD 8.0 billion by 2025, according to a ... incidence of infectious diseases and cancer is expected to ... disease diagnosis over the coming years. In addition, higher ... autologous and allogenic stem cell therapy, due to adverse ...
Breaking Medicine Technology:
(Date:3/28/2017)... ... March 28, 2017 , ... Revolution for Truth has organized ... protect parental rights and civil liberties, and to restore transparency within government agencies ... coincides with a press conference taking place Friday morning calling on President Trump ...
(Date:3/28/2017)... ... March 28, 2017 , ... ... and services, is proud to announce it has joined the National Association for ... the interests of chronically ill, disabled, and dying Americans of all ages and ...
(Date:3/28/2017)... ... 2017 , ... Z-Medica, LLC, a leading developer and marketer ... will acquire QuikClot® Bleeding Control Kits® (BCK) to equip up to 1,000 schools ... by the American College of Surgeons, U.S. Department of Defense, Department of Homeland ...
(Date:3/28/2017)... , ... March 28, 2017 , ... ... instruments are critical to ensuring high-quality results and maintaining GMP and USP compliance. ... Laboratory Instruments in accordance with GMP requirements " these requirements are explained. ...
(Date:3/28/2017)... ... 2017 , ... With less than 10,000 dermatologists in the United States and ... limited while the desire to conquer breakouts and eliminate skincare stress is widespread. ... online, today released its inaugural survey on the State of Acne in America. ...
Breaking Medicine News(10 mins):