Flow Diversion for Cerebral Aneurysms
Developing a revolutionary endovascular flow diverter and coil-containment device for the minimally invasive treatment of bifurcation aneurysms
A letter from the CEO:
NeuroMedica, Inc. is commercializing a novel, patented endovascular flow diverter for minimally invasive treatment of cerebral aneurysms at bifurcations. The Company addresses a large and growing market of approximately $500 million sales in 2019 with predicted compound annual growth rate (CAGR) in the 5-10% range. The FDA estimates about 5% of the US population is harboring a cerebral aneurysm. Our flow diverter is designed specifically to treat cerebral aneurysms occuring at bifurcations. This subset represents about 50% of all cerebral aneurysms and is particularly difficult to treat. Our flagship product, The Backstop, does not make contact with the weakened walls of the aneurysm dome, nor does it occlude perforating vessels. Our IP portfolio, licensed from Cornell University, includes 9 issued patents. Development to date was underwritten by the Helmsley Charitable Trust. Backstop advantages over competitive devices include:
- Unlike intra-saccular devices, the Backstop does not make contact with the distended, weakened aneurysm wall. We believe a drawback of intra-saccular devices is the fact that the aneurysm space is permanently maintained, whereas with a device that is positioned in the parent vessel the aneurysm can shrink, remodel, and be resorbed.
- Does not occlude distal branching vessels (perforators). This can have implications for both circulation as well as distal access in future procedures.
- Only one device needed to treat bifurcation aneurysms. Presently, a substantial minority of cases are treated with two cylindrical devices and adjuvant coiling. A single device solution should reduce OR time, complexity, and costs.
Our physician advisory panel is headed up by Howard Riina, M.D. Dr. Riina is a Neurosurgeon, Professor of Neurosurgery, Neurology and Radiology; Vice Chairman, Department of Neurosurgery; and Director NYU Langone Center for Stroke and Neurovascular Diseases. Dr. Riina is also a co-founder of NeuroMedica. The other members of the Physician Advisory Board are Fernando Gonzalez, MD of Duke, Michael Lawton, MD, President & CEO Barrow Neurological Institute, and Narlin Beaty, MD, formerly at Johns Hopkins, now in private practice at Tallahassee Neurological Clinic. Founder and CEO Allen Conger has a professional background that includes surgical equipment and implant sales, investment banking, and experience owning and operating a general contracting business. Mr. Conger earned his MBA at The University of Chicago. Founder and Senior Advisor Daniel Rissing is a veteran of the health care industry, previously leading complex multi-hospital systems with annual revenues in the billions. He was a co-founder and division CEO of the Christus Health System, CEO of the ProMedica Health System and founder and CEO of Progressive Acute Care. Board Member Dave Cox has over 20 years high level commercial leadership in the endovascular space. Dave currently leads the national and strategic accounts activity at Shockwave Medical.
If you would like to learn more, please phone or email to get the conversation started.
Allen Conger, CEO