To find, fund, and facilitate new healthtech innovations.
It is difficult to introduce an innovative medical device into the marketplace, and many clinicians do not have the business expertise to plan for the many stages involved in commercializing a new product. CIMIT's Accelerator was created to provide innovators with support and specialized expertise in intellectual property protection, patents and licensing, technology implementation, regulatory issues, fundraising, commercialization, and much more. Its benefits to entrepreneurs, academic hospitals and investors ultimately supports CIMIT's mission to rapidly improving patient care by facilitating interdisciplinary collaboration.
Accelerator Awards support the facilitation and execution costs of projects that have the potential for commercial handoff in 12–18 months. This type of award helps projects commercially de-risk projects and establish proof-of-value. Accelerator Executives join teams and work closely with the institutional technology transfer offices to speed hand-off to industry.
These awards provide a vital infusion of expertise and funds to support teams in driving a solution to a commercial exit where it will be advanced by financially motivated investors. This may be that the minimally viable product (MVP) is sold or a company takes the product through the final commercialization and regulatory approval stages.
Support available includes:
- Cash awards for product development and validation
- Expertise to help with commercialization challenges, such as business models, go-to-market plans, regulatory pathway, reimbursement, customer acquisition, etc.
Please contact Mike Dempsey for more information.
Mike is an Entrepreneur in Residence at CIMIT. His primary responsibility is to lead the CIMIT Accelerator Program which is focused on finding, funding and facilitating innovations that are to be handed off to industry within twelve to eighteen months. Mike and his team work closely with the project teams to not only advance the technology, but also to develop and execute a complete strategy for getting the innovation into practice.Mike has been working in the field of medical devices for more than 25 years; during this time he has invented or worked on products that have treated over twenty million people. He was a co-founding of Radianse, a venture-backed company that develops indoor positioning systems for hospitals. Prior to founding Radianse, Mike worked as a technical strategist for wireless solutions at Hewlett-Packard/Agilent Technologies (now Philips Medical Systems). He has helped to develop and introduce dozens of successful products, holds over 40 patents in wireless medical device communications and has ten more patents pending. Mike received a special citation from the Commissioner of the FDA for "exceptional initiative and leadership to protect the public health." He has a BSEE from The University of Michigan.
Dr. Gupta earned his MD at Cornell University and his PhD in Computer Science at the State University of New York at Stony Brook. In addition to serving as the CIMIT Site Miner for MGH, he is the director of the MGH Ultra-high Resolution Volume CT Lab. An instructor in radiology at Harvard Medical School, Dr. Gupta’s clinical specialties include Cardiovascular and Neuroradiology. Prior to joining MGH, Dr. Gupta was a Computer Scientist at GE Global Research Center in Niskayuna, NY, conducting research in medical imaging, non-destructive evaluation of aircraft engine parts, and computer vision. He also served on the faculty of University of Southern California, Los Angeles, in the Department of Electrical Engineering Systems.
Wolfgang Krull is a Senior Operations Management Professional in the Medical Device Industry with a proven track record of leading complex business, site, operations, supply chain, and product development organizations including two successful startups. His specialties include leading Operations, Strategic Planning, Organizational Development, and Program Management to meet worldwide business, quality, and regulatory requirements.
Wolfgang spent 24 years with Hewlett Packard Medical (now Philips) in multiple functions including executive positions as Director of R&D and Director of Worldwide Manufacturing/Order Fulfillment for the Patient Monitoring Business. In these roles he was responsible for strategic development for the Bedside Patient Monitoring, Digital Telemetry, Central Monitoring, and Cath Lab product lines for critical, intermediate, and coronary care hospital markets.
In 2001, he joined start-up Visualization Technologies (VTI) as Vice President of Manufacturing and Supply Chain responsible for strategic business, process, operational, and organization improvements including initiatives in lean, cost reduction, quality improvements, and new product launch processes for Manufacturing. In 2002, VTI was successfully acquired by General Electric where Wolfgang continued as Vice President of Operations and Supply Chain.
In 2003, Wolfgang joined start-up Breakaway Imaging as Vice President of Operations and Supply Chain responsible for establishing and leading operations, supply chain, quality system, and service organizations and processes for the O-arm Imaging system. In 2007, Breakaway Imaging was successfully acquired by Medtronic and Wolfgang became the Regional Business and Site Manager for the Medtronic’s Navigation and Imaging business responsible for leading product development, operations, quality/regulatory, and factory services organizations for the O-arm business.In addition to his CIMIT Accelerator Executive role, Wolfgang is the founder and president of Krull Enterprise Services for Operations and Supply Chain (KESSCO) providing “hands-on” management and consulting services to assist emerging, early, and mid-stage medical technology companies develop, implement, and optimize their manufacturing and supply chain operations to meet business goals. Wolfgang has been a Hewlett Packard Fellow, Chairman of the University of Massachusetts (Amherst) College of Engineering Deans Advisory Committee, and Member of the Boston University Software Engineering Advisory Committee.
Paul Magnin spent 17 years as a key contributor to Hewlett-Packard's Ultrasound Imaging business. He was the General Manager of Hewlett-Packard's Imaging Systems business from January 1996 through 1998. From 1998 through 2003, Dr. Magnin was the President and CEO of LightLab Imaging. LightLab Imaging, a medical device start-up company, brought to market a proprietary technology that employs infrared light to make images with resolution on the micron scale for Cardiology, Endoscopy, Neurology, and Surgical Microscopy. He managed the company from the start-up phase through the sale of the company to Goodman Ltd. Subsequently he was the Founder and President of Novelis, Inc. a privately funded start-up focused on guiding therapy for Interventional Cardiology applications. Novelis was sold to Volcano Corporation in 2008.
Dr. Magnin is an advisor and board member of a number of medical device start-up companies and the Chairman of the Board of Directors of Ultrasonix Medical Corp. in Vancouver, BC. He holds over 16 patents and has authored over 20 scientific journal articles. He has been studying and working in medical imaging since 1977 while an undergraduate at Princeton University. In 1981 he completed his doctorate in Biomedical Engineering at Duke University where he was part of the Ultrasonic Imaging research team.
Dr. James E. Muller is the director of the Vulnerable Plaque and Patient Program. From 2005 to 2015 Dr. Muller served as CEO and then Chief Medical Officer of Infraredx, Inc. a company he founded to develop an instrument to identify vulnerable coronary plaques. With the sale of Infraredx to Nipro, Inc., he has returned to academic medicine to develop the full range of activities necessary to improve the prevention of heart attacks.
Infraredx, Inc, successfully developed a multimodality near-infrared spectroscopy and IVUS coronary catheter that can identify the lipid-rich and presumably vulnerable coronary artery plaques that cause heart attacks. The definitive test of this technology -- an outcomes study in over 1360 patients -- will yield results in June, 2016.
Dr. Muller formerly served as a Professor of Medicine at the Harvard Medical School where he conducted research for over 25 years on the causes of heart attacks. In 1994, he introduced the term "vulnerable plaque" to describe those plaques likely to disrupt and cause disease onset. Dr. Muller was one of three American Co-founders of the International Physicians for the Prevention of Nuclear War (IPPNW) the organization awarded the 1985 Nobel Peace Prize.
Josh has over thirty years of in-depth experience in research, development, manufacturing, regulatory affairs and general management of medical device companies. After a research engineer position at Mass General Hospital, Josh started his commercial career as the Vice President of Research and Development for Medi-Tech, which became Boston Scientific, and helped grow that company from 20 to 500 employees. Josh then went on to start two of his own companies, including ACT Medical, Inc., an outsourcing resource for medical device companies. He built ACT to over $25 million in sales and sold it to a publicly traded company in 2000. From 2000 to 2003, Josh served as a manager of Seedling Enterprises, an incubator created to find and develop early stage medical device concepts to a point of increased value. To date, Seedling has exited three of its investments at a significant gain and has spun off three additional projects as venture-financed companies. Josh is recognized as a leading figure in the Massachusetts medical device community and currently serves on the board of several privately held companies, and chaired MassMedic, a 300+ industry trade group.
He received a BA from Harvard College and an MS in BioMechanics from MIT.