Friday, August 31, 2012

The future of spine and back surgery

many-patients-choose-conventional-minimally-invasive-spine-surgery-because-they-know-the-outcomes-are-predictable1

The future of spine and back surgery

29 Aug 2012, Dr Raj Nihalani, BioSpectrum
guest-column-dr-raj-nihalani-founder-and-ceo-onciomed
Many of the new techniques and equipments developed over the past few years for spine surgery have leaned toward the less invasive approach, which is gaining in popularity across the US. However, 80-to-90 percent of surgeons are still performing open surgeries, which they have perfected over the years.
Healthcare reform in the US could slow technological advances in the coming years due to uncertain reimbursements and increased fees on medical device makers. As we approach 2013, industry leaders weigh in on the future of spine surgery and the cost associated with it.
US Healthcare reform's impact on spine surgery
In the current atmosphere of anxiety regarding the "unknowns" of healthcare reform, many spine surgeons are opting to proceed with their practice cautiously. An increase in patient volume due to growth in the aging population coupled with diminishing reimbursement rates means spine surgeons will be looking for less costly surgery systems that are easy-to-use, according to Dr Chris Zorn, vice president, Spine Surgical Innovation.
Physicians who are working in hospital settings must justify their spending, which could lead to a decrease in purchasing of new and complex technologies that facilities are currently willing to purchase. While technology may continue to advance, physicians may not have the resources to learn new procedures or gain access to the equipment.
In Asia and Europe "Generally speaking, spine, like many other surgical areas, has certain things that become trendy, but my observations are that physicians worldwide are sticking to the basics," says Mr Zorn. "We live in a world of trying to keep it simple, keep the learning steps simple, minimize the impact of surgery on the budget as well as the impact of the procedure on the staff, surgeon and patient's time."

Currently, new minimally invasive surgery are three-to-five times more expensive than conventional surgery opening room to next generation of open repair technologies that are low cost.
One such company which is focusing on next generation open repair technologies is Spinofix and Spinofix International. Spinofix, with its head office in Irivne, California, and an international office in Taiwan and a proposed office in Singapore, has developed low cost treatment options that provide potentially better results that conventional treatments and cost as much or less than conventional treatment, which is a win-win situation.
Minimally invasive spine surgery vs open surgery
One of the biggest reasons to get spine surgery is intractable back pain. Patients resort to spine surgery because they can't take it anymore. Their goal is to get rid of the pain once for all.
Surgeons practicing less invasive or minimally invasive spine surgery are still learning the techniques, patients would rather prefer to do a conventional treatment because they are aware of the outcomes, which is similar to less invasive surgery. The only difference is quicker healing time (couple of weeks). Patient's and payers (insurance companies) prefer less costly and more predictable outcome that are less invasive with a chance to undergo a second revision surgery, if things did not go right the first time.
Investment in Spine Technology
Many investors looking to invest in spine technology may think minimally invasive technology is the way to go. Actually, it's the paradox. Next generation technologies, which are less costly and improvements in the open repair, are more popular and will stay for the next two decades. New technologies in spine fusion will replace the conventional treatments slowly, thus bridging the gap between the conventional treatment and minimally invasive surgery. Spinofix's cross connector system is one of the technology that the companies are using to bridge the gap.
Is the Asian spine market different?
In Asia, physicians affiliated with academic research centers are small in number (less than five percent). Most surgeons are likely to learn minimally invasive techniques in the future because they have more emphasis on procedural development.
In the coming healthcare climate, which is wrought with uncertain reimbursement rates and the potential for an increase in patient volume in countries like China and India, physicians are busy serving in the operating room all day and managing a robust practice. They will need to search for systems with simple ease-of-use, short learning curve and high value. The physicians will need to invest in low-cost systems like Spinofix that demonstrate beneficial patient outcomes.
Active patient recovery
As minimally invasive surgery and pain medicine make advancements, patients are able to play an active role in their recovery process. Patients are looking to explore their options. Many choose conventional spine surgery that are minimally invasive because they know the outcomes are predictable.
"Minimally invasive sounds great, I had a minimally invasive heart procedure last year, but that does not mean minimally invasive spine surgery its going to work for me. I would like the surgeon to look and fix my back right," said a 65-year-old women suffering from back pain in Singapore.
She decided to go the conventional route even though her cost was covered by the hospital system. Four weeks later she said, "I am glad I chose conventional treatment and I feel better. I read a lot about spine surgery on the internet and decided that I stick to the predictability of the procedure than the newness and hype of the less invasive surgery."

Saturday, May 12, 2012

SEVEN: Rules for Start Up Entrepreneurs


SEVEN: Rules for Start Up Entrepreneurs
See if you can qualify to join the Scientific Entrepreneur & Venture Capital Network on Linkedin.


Most VCs and entrepreneurs believe start-ups are inherently iterative, that a string of mistakes doesn't prevent success, but may even be the path to it. Generally, that view is correct, but there are a few choices made early on that have implications so deep as to be functionally irreversible, with profound implications for outcomes. Product and business models are evolutionary by nature, but we see four things a young company must get right:
  • The founding structure, team and values
  • Where the company is located
  • Strong IP if possible
  • The initial investors (and their terms)
  • Learn from your early mistakes
  • Keep team morale high
  • Don’t stop to seek money for the company.
Good Founding Structure, Team  and Values
A good start up company usually begins with a solid founding team. The team can be small but all members of the team need to be extremely cohesive. Members of the team need to understand the vision and core value proposition of the founder for the company.
The company structure is key, it needs a lot of thought, the capital structure,  the amount of money to be raised as seed money, the use of its proceeds. Do not underestimate the process and the hurdles you may face.
Process and hurdles are small surprises, which will come more often as the company progresses fast, how you resolve small surprises is very important. If you think ahead, the there will be fewer surprises over time and the mean time elapsed between surprises increases. So the key is don’t assume plan, plan, plan.
Location of Company:
Location of company is very important to get funded. If you are a life science or medical device company you need to be in Orange County, Ca , or Silicon Valley or  in Boston to get funded and acquired. The VCs would like you to be where the talent is abundant. An IT or Social media company needs to be in the area where there is culture of social media eg in Palo Alto, Stanford not near Berkley or San Diego.
IP and IP Attorneys:
It is imperative to have a terrific patent attorney to file the IP for your great idea. Any mistakes in the filing of the IP can result in grave damage to the value of the company.


Initial Investors:
Make sure the value of the company is reasonable and you have solid initial investors. As you reach the 1st round of funding , it is important who is the lead VC in the company

Learn from early mistakes:
Keep in mind we learn, we learn, we learn! Everyday as a start up team. Learn early and learn fast from your mistakes. Have frequent meetings with your team to discuss: “What we know, and what we don’t know”.

Keep team morale high:
Who says its easy, it’s not supposed to be easy, that is why you are the chosen few working on this project.  Make sure the morale is high, take breaks, encourage the team and think positive.  Get the team members off the project if they are overtly negative, you want the enthusiasm very high.


Don’t stop raising money:
Don’t stop, keep making presentations to investors and people connected with money. Build relationship with industry players that will endorse your product when you need it the most.

 

Golden Rule: Don’t give up! Success belongs to those who are persistent.

Tuesday, May 8, 2012

Life Science Networking Opportunity: SEVEN on May 24th, Pacific Club

SEVEN is currently screening Medical Device, Biotech, and Healthcare IT startup companies interested in presenting at an exclusive CEO/Investor Black Tie Event for Life Science companies. Table tops are limited to 20, and are an excellent opportunity to pitch to investors / industry leaders. If you are involved in a startup that focuses on innovative technology and consists of a strong team with a great background, then contact us to qualify for the event.

 http://lifescienceinvestorsummit.com/blacktie-overview.html
Why Orange County?




  • Orange County is among the top medical technology hubs in the nation and the world
  • OC was among the top 5 in investments by region among all sectors*
  • Orange County ranked top 5 in medical technology investments nationwide*
  • 16 of 30 of the most active investing firms nationally are based in California, making it ideal for growth and expansion*
  • Orange County is central to academic research institutions such as UC San Diego, UC Irvine, and UCLA whose breakthroughs vitalize innovation


  •  
  • The Scientific Entrepreneur Venture Capital Network will be hosting a Life Science Executive Mixer at the Pacific Club in Newport Beach, CA. The one day Black Tie event is scheduled for Thursday May 24th 2012, and will start at 5:30 PM - with cocktails to be served, and presentations accompanied by hors d'oeuvres lasting until 9:00 PM.
    Approximately 200 Life Science executives, investors, and startup entrepreneurs are expected to attend, with the event focused on bringing together Medical Device, Pharmaceutical, BioTech, and Healthcare IT executives, startups/entrepreneurs, and investors to boost the booming life science industry in Orange County, and the greater Southern California metropolitan area.
    SEVEN is currently screening Medical Device, Biotech, and Healthcare IT startup companies interested in presenting at an exclusive CEO/Investor Black Tie Event for Life Science companies. Table tops are limited to 20, and are an excellent opportunity to pitch to investors / industry leaders. If you are involved in a startup that focuses on innovative technology and consists of a strong team with a great background, then contact us to qualify for the event.You could also mail us a copy of your presentation today, or call Raj at (714) 658-3039.
     
  • Sunday, April 15, 2012

    “We are lucky to have the sensory abilities of vision,” Changing the color of your eyes “but don’t go asking for trouble”


    Lasering the iris to destroy the brown pigment to turn it blue is “probably risky,” Dr. Robert Cykiert, associate professor of ophthalmology at NYU Langone Medical Center, told ABCNews.com.

    “When you burn the brown pigment away with a laser, the debris that is created in the front of the eyethink of it as ashes resulting from burning anything — is likely to clog up the microscopic channels in the front of the eye, known as trabecular meshwork,” said Cykiert. “[It] is very likely to cause a high pressure in the eye, known as glaucoma.

    In some patients, this high pressure might  be temporary, he said, but in others, it could be permanent. Glaucoma is a disease that can cause serious permanent loss of vision.
    Cykiert  also said that burning large amounts of brown pigment is likely to cause inflammation and potential damage to the cornea. The procedure could also bring on cataracts, depending on the severity of the inflammation.

    Dr. Ivan Schwab, a professor of ophthalmology at the University of California at Davis School of Medicine and clinical correspondent at the American Academy of Ophthalmology, also has his doubts.

    “These risks take time to develop, so they may not develop in the first year or two. It could take five or 10 years,” said Schwab. “If a large number of people were to undergo this procedure of lasering the iris, and it caused these problems down the road, we’d have a major public health problem on our hands.”

    Tuesday, April 10, 2012

    SEVEN Black Tie Event for CEOs in Life Scienes

    SEVEN (Scientific Entrepreneur & Venture Capital Network) Orange County is hosting a Life Science Executive Mixer.- Join on Linkedin.SEVEN
     
    The event is a black tie cocktail event starting at 5:30 PM to 9:00PM.
    Date: 24 May 2012
    Location: Irvine/Newport Beach
    Sponsors: Pl contact : Raj at: accessclinicaltrials@gmail.com
    There is opportunity to sponsor the event. pl call: 714-658-3039


    This event will bring the medical device, pharma, biotech and health care IT entrepreneurs, executives and the investor community together to boost the booming life science industry in Orange County and So Cal.
    About 200 Life Science executives, investors and start up entrepreneurs are expected to attend.

    SEVEN is screening Medical Device, Biotech, Healthcare IT start up companies that would like to have a table top display/presentation (limited to 20 tabletops only) for an exclusive CEO/Investor Black Tie Event for Life Science companies, pl note few spots are left.  Pl Email to qualify for the event. (Start up with innovative technology, good team, good story)

    Pl send your company profile and executive summary to: Raj Nihalani
    E: accessclinicaltrials@gmail.com
    For Registration/attendance pl contact:  accessclinicaltrials@gmail.com
    There is opportunity to sponsor the event. pl call: 714-658-3039


    Job Act & Sarbanes-Oxley Compliance

    When the time is right, the JOBS Act makes it easier for a new class of "emerging growth companies" to go public.  

    Young, high-growth firms are allowed up to five years to comply with certain Sarbanes-Oxley Act disclosures.
    The Life Science Sector will boom! with the help of Job Act.
     
    Sarbanes-Oxley compliance is much more onerous for smaller companies than it is for larger entities such as General Electric, Johnson & Johnson or IBM. 

    The JOBS Act helps smaller companies conserve resources. It also provides an "IPO On-Ramp" during which time emerging growth companies can protect sensitive information and competitive trade secrets.

    To protect investors, the JOBS Act includes an amendment that mandates companies to provide basic financial information to investors before seeking crowdfunding. It also requires third-party intermediaries, in the form of websites managing crowdfunding shares, to register with the SEC

    The amendment also sets limits on the amount of money an individual can invest to prevent investors from taking too much risk. Individuals with an annual income or net worth of less than $100,000, for example, would be limited to investing 5% of their income in crowdfunding.

    In addition, Obama called on the Treasury Department, Small Business Association and Justice Department to monitor the new legislation closely and report regularly on their findings.

    Certainly, the JOBS Act is a win for entrepreneurs in America. But it is only a first step. The bill will help innovators reduce burdensome regulation and gain faster access to capital to grow their startup businesses. Immigrants founded or co-founded almost half of the 50 top venture-backed companies in the United States, and on average these companies created 150 jobs.

     Another way is to make open-technology licensing a condition for universities to receive federal research dollars. Currently, the Bayh-Dole Act of 1980 requires faculty innovators to work through their own university technology licensing offices. This creates significant delays.


    To catalyze our innovation economy, we need to increase collaboration between startups and larger corporations. One such example is the NYSE Big StartUp initiative that partners large companies with small businesses to provide corporate assistance with accounting support, legal services, marketing infrastructure and financial training. Small companies often lack resources to take their business to scale. Corporate America can help catapult fledgling entrepreneurs to the next level.
    America's competitive position in the world will increasingly depend on our entrepreneurs. The JOBS Act provides momentum.

    Sunday, February 26, 2012


    SEVEN (Scientific Entrepreneur & Venture Capital Network) Orange County is hosting a Life Science Executive Mixer.
     Join on Linkedin SEVEN 
    The event is a black tie cocktail event starting at 5:30 PM to 9:00PM.
      



    Date: 26 April 2012
    Location: Irvine/Newport Beach
    Registration: Pl contact Raj at : accessclinicaltrials@gmail.com

    Sponsors: Pl contact : Raj at: accessclinicaltrials@gmail.com
    There is opportunity to sponsor the event. pl call: 714-658-3039

    This event will bring the medical device, pharma, biotech and health care IT entrepreneurs, executives and the investor community together to boost the booming life science industry in Orange County and So Cal.

    About 200 Life Science executives, investors and start up entrepreneurs are expected to attend.


    SEVEN is screening Medical Device, Biotech, Healthcare IT start up companies that would like to have a table top display/presentation (limited to 20 tabletops only) for an exclusive CEO/Investor Black Tie Event for Life Science companies, pl note few spots are left.  Pl Email to qualify for the event. (Start up with innovative technology, good team, good story)

    Pl send your company profile and executive summary to: Raj Nihalani
    E: accessclinicaltrials@gmail.com
    For Registration/attendance pl contact:  accessclinicaltrials@gmail.com
    There is opportunity to sponsor the event. pl call: 714-658-3039

    Thursday, February 23, 2012

    Medical Device Market Predicted to Boom to $500 B by 2015

    Private investor are jumping in to invest in Medical Device industry as it heats up for a health care boom in Asia by 2015.  

    The increasing incidence of chronic diseases such as Obesity,  diabetes, cardiovascular disease, chronic wounds, immobility, pulmonary and vascular diseases is enhancing the need for patient care in hospitals, homes and other care facilities, thereby contributing to the demand for medical devices and diagnostics that are capable of enhancing the overall quality of life. The US leads the high-technology medical devices market, but faces fierce competition from emerging economies. Despite being way behind the US in terms of expertise or innovation, these countries compete on basis of production of low cost medical devices. 
    Demand for medical devices in developing countries, especially China and India, is expected to grow at a faster rate than developed countries owing to factors such as rising disposable incomes, increase in patient population, growing waist lines, obesity on the rise and both India and China face an epidemic of diabetes and obesity. 

     Australia UK , US, Canada and Mexico are already declared an Obesity epidemic.The obesity device market will be the biggest in the healthcare sector.Asia is seeing increasing healthcare awareness, improvements in healthcare infrastructure and increase in healthcare spending . In majority of the Asian, Latin America and the Middle East countries, government efforts are focused on improving healthcare services and infrastructure facilities, which is expected to fuel the demand for medical equipment in the next 3 years. 

    India and china face a problem of metabolic disease. Which is a mix of hypertension, heart disease and diabetes and now Obesity. The smokers in the region have increased the incidence of tobacco related problems.
    Coronary stent or an angioplasty is one medical device that is done every 20 seconds in Asia. 
    There is a increased demand in consumables in the medical device sector. Implantables like the lap band will grow in Asia.
    Technologies in orthopedics and spine are in great demand. Larger companies cannot compete with small and nimble manufacturers.
    Spine surgery is reverting to posterior open repairs due to slower adoption of minimally invasive surgery. The outcomes show little difference between the traditional posterior fixation and minimally invasive surgery. It will take a decade for new technologies to be adopted.
    Increase number of private investors are jumping into the space because the institutional investors have not raised new money to invest in early stage technologies.
     Private investors did not have this opportunity until recently.
    Private and angel investors understand its a high risk high gain opportunity, accredited investors can take advantage and invest in companies in the seed stage and series A. After Series A  the institutional investors and venture capitalist jump in. Many of the private investors have potential to gain if the company exits in 4-5 years, which can be by virtue of M&A or IPO.

    Monday, February 13, 2012

    Medical Technology Black Tie Event: Newport Beach, Ca

    The event is a black tie cocktail event starting at 5:30 PM to 9:00PM.
    Date: 26 April 2012
    Location: Irvine/Newport Beach
    Sponsors: Pl contact : Raj at: accessclinicaltrials@gmail.com
    or
    Raj@trialmed.com
    There is opportunity to sponsor the event. pl call: 714-658-3039


    This event will bring the medical device, pharma, biotech and health care IT entrepreneurs, executives and the investor community together to boost the booming life science industry in Orange County and So Cal.
    About 200 Life Science executives, investors and start up entrepreneurs are expected to attend.


    SEVEN is screening Medical Device, Biotech, Healthcare IT start up companies that would like to have a table top display/presentation (limited to 20 tabletops only) for an exclusive CEO/Investor Black Tie Event for Life Science companies, pl note few spots are left.  Pl Email to qualify for the event. (Start up with innovative technology, good team, good story)

    Pl send your company profile and executive summary to: Raj Nihalani
    E: accessclinicaltrials@gmail.com
    For Registration/attendance pl contact:  accessclinicaltrials@gmail.com
    There is opportunity to sponsor the event. pl call: 714-658-3039