Lauding recent additions and successes
Despite the challenging environment presented by 2020, we are proud to report that companies-in-residence (CIRs) and graduates alike received funding, a testament to their fortitude and the value of the clinical needs they are addressing. Startups that received funding and/or grants include current CIRs iDentical ($4.5M); G-Tech Medical ($3.5M); Enspectra Health ($2M); Chronus ($1.16M); Materna Medical ($430k); and Nasus Medical ($240k), which we were pleased to welcome to the organization this year. Graduates include Alydia Health ($13.9M), Raydiant Oximetry($2M) and Prescient ($1.3M).
Another notable milestone was achieved by alumnus company, PQ Bypass, which received Breakthrough Device status from the FDA to allow treatment of patients suffering from long, complex blockages in the superficial femoral artery (SFA).
Expanding our team and programs
To create more value for entrepreneurs and companies at different development stages, Fogarty Innovation introduced the Invention Acceleration Program (IAP) and Company Accelerator Program (CAP). This endeavor is designed to help clinicians, researchers and faculty develop their ideas into innovation and move young companies to the next milestone. To support the new entrepreneurs and innovators who will be joining the organization, Fogarty Innovation hired Laura Hamilton as performance optimization leader, and Bernie Andreas as engineer in residence.
Introducing Fogarty Innovation
In an effort to stay true to our roots while reflecting our evolution, we were excited to announce our rebrand as “Fogarty Innovation.” We feel the name expresses our foundational essence and “incubator” status, but also encompasses efforts to broaden our scope. We occupy a unique position in the industry, as a global think tank for innovation and creation with an ability to unite the diverse groups we serve. We invite you to join and engage with us in our journey to shape human health; you can find more on our newly launched website, where you can read past blogs and view our videocasts.
Launching our new state-of-the-art facility
With an eye toward a bright future, we moved into a new 30,000 square-foot state-of-the-art facility on the campus of El Camino Health and in the heart of Silicon Valley. Our new offices include cutting-edge facilities in our laboratory and machine shop, along with ample conference, collaboration and recreation spaces which are designed to host, serve and support our entrepreneurs, staff mentors, Lefteroff interns and allies such as Stanford Biodesign and the FDA Fellows. We have been following strict COVID-19 protocol since the move and look forward to seeing our spirit of partnership come to life when it is safe to do so.
Enhancing our alliances
Working within the virtual environment, Fogarty Innovation continued to strengthen our alliances in the medtech ecosystem. As a reflection of our desire to collaborate with a diverse group of stakeholders, we recently partnered with a number of organizations, including the FDA, MedTech Strategist and TCT, to host a number of thought leadership sessions with industry luminaries.
We also deepened our partnership with Stanford Biodesign, El Camino Health and MDMA, which share our common goal of advancing and improving human health; we broadened our diversity program by launching the first two Diversity by Doing (DxD) Virtual Speed Mentoring events; and amplified the conversation around diversity in healthtech by developing a survey and interpreting the results in collaboration with our DxD co-founders Stanford Biodesign and Maria Sainz, president and CEO of AEGEA Medical.
We are also very pleased to have forged an alliance with the Boys & Girls Clubs of the Peninsula and look forward to hosting some of their college students in our upcoming Lefteroff summer internship program.