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AdvaStim

AdvaStim is developing disruptive technology in neurostimulation, $2B industry with 15% annual growth to mitigate product reliability issues

  • Stage Product In Development
  • Industry Medical Devices and Equipment
  • Location Beverly, MA, USA
  • Currency USD
  • Employees 2
  • Website advastim.com

Company Summary

Implantable neurostimulation, a $2 billion industry growing at 15% per year, with documented clinical publications indicating poor reliability with product related to failure rates of up to 30% for spinal cord stimulation (SCS), which covers $1.5 billion of the total market. AdvaStim is developing a totally implantable neurostimulator that will improve product reliability and enhance clinical effectiveness.

Team

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    Barry M Yomtov
    CTO and Co-founder

    Proven technical executive with significant experience in the medical device industry specializing in Class III implantable devices. Held senior management positions at HeartWare, MicroCHIPS, Abiomed, and InControl; 10 years at Cordis in the design of cardiac and neurostimulator devices. 14 issued patents, 5 published patent applications, and 10 publications; M.Eng. & BS in Biomedical Engineering from Rensselaer Polytechnic Institute

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    Laurence Derose
    CEO and co-founder

    Experienced executive and founder of manufacturing companies specializing in implantable medical devices.. Co-Founder and President of EBTEC Corporation 1969 through 1987, when EBTEC merged with a British company. In 1987, Laurence developed a medical focused business plan and launched Texcel and was also founder of CIRTEC Medical in 2009. Larry holds a BS ME Western New England College.

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    Marvin L Sussman
    Director, Clinical and Regulatory Affairs

    Dr Sussman has 34 yrs experience in medical devices. Ran clinical study for first totally-implantable neural stimulator; developed flow regulated hydrocephalus shunt, IMRT system and qEEG for neurosurgical clinical applications. 10 patents; Co-chair AAMI Neurosurgery Committee; Industry Representative FDA Neurological Devices Panel. doctoral degree and postdoctoral studies at University of Miami, School of Medicine: Neurophysiology & Biophysics

Advisors

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    Richard Gray for IP; In discussions with Foley & Hoag
    Lawyer
    Unconfirmed
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    Moriarty & Primack, Springfield and Waltham, MA
    Accountant
    Unconfirmed

Previous Investors

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    Laurence Derose
    Unconfirmed
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    CIRTEC Medical - no longer involved (i.e. free and clear)
    Unconfirmed