M2D2
Massachusetts Medical Device Development Center
UMass Lowell & Worcester
Connect the Resources of the
University of Massachusetts
to Medical Device firms within Massachusetts
26 UMass Lowell and 18 UMass Worcester Faculty
Steering Committee – 24 Investment and Industry Leaders
Incubators/
Facilities
Workforce
Training
M2D2
Product
Realization
Process
Business
Realization
Process
M2D2
Worcester
M2D2 Resources
• Assistance with:
– Defining Market & Business Opportunity
– Prototype Development
– Clinical Trials Assistance
• Funding
• Grant Development, Loans, Investors
• Space
• Wet/Dry Labs, Office
• Networks of People & Resources
Successful Funding Efforts - NIH SBIR/STTR
$150,000
A.
B.
8 proposals submitted 60% success $2.2MM (ROI > 10 x)
Develop a “Winning” Proposal / Electronic Application
“Experts” and Facilities to Insure Success
1. VasoTech
Worcester - Lowell, MA
$1.2 Million
Biodegradable Polymer Drug Eluting Stent
2. Vista Scientific
$318,000
Lawrence, MA
Nanosphere-Antibiotic Corneal Contact Lens
3. Source Production Andover, MA
$500,000
Fig. 2: VasoTech®
Metal Stent
Brachytherapy for Lung Cancer
4. Kazak
Woburn, MA
$100,000
Lowell, MA
$100,000
Portable Jaws of Life
5. Aragon
Neuromuscular Biosensor
M2D2
Worcester
Matching “FastLane” Loan Fund
$500,000 JAII Project Award
A.
B.
up to $150K/company
Business Assessment / Medical Assessment
(15)
Prototype / Manufacture / Animal & Clinical Trials / IP / FDA (5)
Aura Medsystems
Boston, MA
Photochemical Tissue Bonding
Oz Technologies
Springfield, MA
User Friendly Pessary
Smart Surfaces
Worcester, MA
Ulcer Prevention Mattress
MedicaMetrix
Wayland, MA
Prostate Measurement
M2D2
Worcester
Matching “FastLane” Loan Fund
$500,000 JAII Project Award
A.
B.
up to $150K/company
Business Assessment / Medical Assessment
(15)
Prototype / Manufacture / Animal & Clinical Trials / IP / FDA (5)
Aura Medsystems Lowell, MA
Photochemical Tissue Bonding
Oz Technologies
Springfield, MA
User Friendly Pessary
Smart Surfaces
Worcester, MA
Ulcer Prevention Mattress
MedicaMetrix
Wayland, MA
Prostate Measurement
MoMelan
Cambridge, MA
Expanded Skin Grafting
M2D2
Worcester
M2D2 Has Worked With >100
Product Concepts to Date
In less than 2 years
$2.4M of Federal and private funding
leveraging ~$500K of
M2D2 direct commitments to date
Graduation
M2D2
Lead Sources for M2D2
VCs
VCs
15/
15/
month
month
•• Brook
Brook Ventures,
Ventures, Ned
Ned Williams
Williams
•• Prism
Prism Venture,
Venture, John
John Brooks
Brooks
•• Ironwood
Ironwood Equity,
Equity, Josh
Josh Tolkoff
Tolkoff
•Others
•Others
UMass
UMass System
System
3/month
3/month
•UMass
•UMass Medical,
Medical, Sheila
Sheila Noone,
Noone, John
John Sullivan,
Sullivan,
•OTM,
•OTM, James
James McNamara
McNamara
•CVIP,
•CVIP, Bill
Bill Rosenberg,
Rosenberg,
25/
25/
Month
Month
Other
Other Universities
Universities
2/month
2/month
2/
2/
month
month
•MTTC/MATTO,
•MTTC/MATTO, Abi
Abi Barrow
Barrow
•CIMIT
•CIMIT ,, Janice
Janice Crosby
Crosby
•WPI,
•WPI, Grant
Grant McGimpsey
McGimpsey
Mass
Mass Hospitals
Hospitals
•Partners
•Partners (CIMIT),
(CIMIT), Janice
Janice Crosby
Crosby
•Children’s
•Children’s Hospital,
Hospital, Jacqueline
Jacqueline Armstrong
Armstrong
•• Baystate
Medical
Center
Baystate Medical Center ,, David
David Glass
Glass
300/
300/
Year
Year
Industry
Industry Groups
Groups
3/month
3/month
•MassMEDIC,
•MassMEDIC, Tom
Tom Sommer
Sommer
•IGNITE,
•IGNITE,
•• MDG,
Marty
Sclar
MDG, Marty Sclar
•• MBI,
MBI, Kevin
Kevin O’Sullivan
O’Sullivan
M2D2
Worcester
M2D2 Business Assessment
•Phase I - Initial Business Assessment Process
•3-6 page summary of Business Opportunity
•Initial Review by Management Team, Prioritize
•Factor into FastTrack, Inventor-Funding Decs
•Integrated into UG/G Coursework
•Phase II - Business Plan Consultation
•Longer term engagement with Inventor-Founder
•Consult w/Expert Business Faculty & Grads
•Assist in Business Plan Development
M2D2
Worcester
M2D2 Application Process
Business Scan
(All Apps.)
Application
Received
Management
Team Review
Medical Assmt.
(If Needed)
M2D2
Process Outcomes
•Inventor raises
matching funds
•Inventor enters
M2D2 Incubator
• Inventor contracts
for Support
Management
Team Review
•Identify FastLane
Candidates
•Identify STTR/SBIR
Candidates
•Filter Out
Inappropriate
Steering
Committee
Review
STTR/SBIR
3X YR
FastLane
Contract
Developed
•Review All
approved Apps.
•Select FastLane
Apps.
M2D2
Worcester
UMW Medical Assessment
Selective inclusion in M2D2 application review:
• Does concept require feasibility review from a
medical expert/clinical user?
• Does concept require clinical trial to satisfy FDA
requirements or clinical acceptance post
manufacturing?
Lessons Learned:
• Link inventor with medical expert early for
consultation and development of realistic clinical
pathway
M2D2 Massachusetts Life Sciences Center
Worcester
M2D2 Medical Experts - UMW
Surgery (Plastics, Wound healing, Urology, Vascular)
Orthopedics
Nursing
Rehabilitation
Cardiology Neurology Stroke Center Anesthesia
Women’s Health Urogynecology Pediatrics
Clinical Labs
Medical Education Simulation Center
Radiology (Interventional, Imaging Center)
M2D2 Massachusetts Life Sciences Center
Worcester
UMMS and UMass Memorial
Access to top-notch Clinical Experts
Large patient population pool for clinical
trials
Centralized support at UMMS:
Dedicated Office for Clinical Research support through life cycle of clinical study
(feasibility to close-out)
Clinical Pathway and Regulatory guidance
M2D2
M2D2 Prototyping Capabilities
•
26 UMass Lowell Faculty Spanning 11 Departments
–
–
–
–
–
–
–
–
–
–
–
•
•
Biological Sciences
Chemical Engineering
Clinical Lab and Nutritional Services
Electrical and Computer Engineering
Health and Environment
Management
Mechanical Engineering
Physics and Applied Physics
Plastics Engineering
Radiation
Work Environment Health
UMass Worcester and UMass Memorial Medical Center Physicians
and Researchers to provide rapid design feedback
Network of Private Sector Design, Fabrication and Testing Firms
M2D2
Worcester
M2D2 Steering Committee
Industry Focused & Engaged
M2D2
Worcester
M2D2 Reaches Beyond Boston/Cambridge
Steering Committee Companies
M2D2 Companies Past & Current
Prospective M2D2 Companies
Partnerships with
Incubators Statewide
Lowell
Beverly
Boston
Worcester
Springfield
Fall River
M2D2
Worcester
M2D2 Facilities / Incubator
Regional Innovation Center
$4 Million Capital Commitment
•Gov. Deval Patrick and Sen. Steven Panagiotakos
Help Establish Innovation Center at UMass Lowell
M2D2
Worcester
M2D2 Facilities / Incubator
Regional Innovation Center
1. 333 Aiken St. - Incubator Space with Wet Labs
VasoTech and Vista Scientific currently
Aura (Jan 2010)
2. Wannalancit Mill – M2D2 Build Out –
15,000 sq ft - UMass Building Authority
3. Emerging Technologies Building – M2D2 Labs
M2D2
Worcester