Medical Device Company MediBeacon™ Primed For Growth And Commercial Success at
Company's success moves it closer toward launching innovative kidney function
ST. LOUIS, Aug. 21, 2013
ST. LOUIS, Aug. 21, 2013 /PRNewswire/ --This month, as MediBeacon reaches its
one-year anniversary, the St. Louis medical device company has made
significant progress in developing new technology to transform renal function
monitoring practices. The Optical Renal Function Monitor (ORFM) is a
noninvasive, real-time kidney function monitoring solution at the bedside with
potential broad implications for improving patient care and reducing
Peer reviewed publications document the unmet need for profoundly improved
understanding of kidney function in the intensive care unit as well as in
broad clinical practice. MediBeacon's system is expected to meet this need.
Unlike existing blood tests that can only deliver time-delayed results that
are generally considered a poor measure of kidney function, the ORFM is
designed to provide real-time and accurate information to help physicians
protect kidney function.
MediBeacon's accomplishments during the last year strongly position the
company to successfully deliver the device to market. Milestones achieved
oPatents granted. The MediBeacon proprietary fluorescent tracer agent and
methodology portfolio continued to increase with issuance of additional
patents in the United States and Europe. MediBeacon currently has 33
patents worldwide, of which 14 are issued in the United States with
another 50 patent applications pending. The patents enable MediBeacon to
both launch an optical kidney function monitoring system and also apply
the same platform technology to other unmet medical needs.
oFunding expectations exceeded. Less than one year following its inception,
MediBeacon raised $3.6million in funding from investors across the
country and overseas – exceeding expectations and allowing the company to
fund its first-in-man clinical trials. Local and state organizations, such
as the St.Louis Development Corporation, the Missouri Technology
Corporation, Helix Fund and the St. Louis BioGenerator were instrumental
in helping the company establish a strong capital structure. MediBeacon
has been able to further attract a national and international group of
investors. MediBeacon was also awarded first place in the 2012 St. Louis
County Economic Council business plan competition sponsored by Edward
oLeading kidney care and medical device expert support attracted.
MediBeacon established a world class Scientific Advisory Board and Board
of Managers, bringing in renowned medical device executives and kidney
care leaders to further develop the business and the clinical aspect of
their technology. MediBeacon's boards comprise leading experts in their
respective medical device and kidney care fields.
Scientific Advisory Board
oDr. Joseph V. Bonventre – Harvard Medical School
oProfessor of Medicine, Harvard Medical School and Chief, Renal
Division and Chief, Biomedical Engineering Division, Brigham and
Women's Hospital. Dr. Bonventre is Past President, American Society
oDr. Steven B. Miller – Express Scripts, Inc.
oSenior Vice President and Chief Medical Officer, Express Scripts,
Inc., and Past Vice President and Chief Medical Officer,
Barnes-Jewish Hospital/Washington University School of Medicine.
oDr. Joseph V. Nally – Cleveland Clinic
oDirector, Center for Chronic Kidney Disease, the Cleveland Clinic and
Clinical Professor of Medicine, the Cleveland Clinic Lerner College
of Medicine, Case Western Reserve University.
oDr. Richard J. Solomon – Fletcher Allen Health Care
oPatrick Professor of Medicine, University of Vermont College of
Medicine and Director of the Division of Nephrology and Hypertension,
Fletcher Allen Health Care.
Board of Managers
oCharles W. Bolten
oVice President, BioGenerator and Former Principal Scientist and
Project Leader, Pfizer Exploratory Immunobiology Group.
oJohn P. Friel
oFormer President and CEO, MEDRAD Inc.
oRichard A. Lytle
oPresident North America, ArjoHuntleigh and Former President EMEA,
Covidien Medical Supplies.
Dr. Joseph Bonventre, Chief of Renal Division of Brigham and Women's Hospital,
said: "Heart and kidney function go hand in hand. There is careful and well
adapted real-time monitoring available for changes in cardiac function with
little ability to monitor changes in kidney function in real-time at the
point-of-care. For decades, physicians have sought more efficient and
sensitive tools to detect changes in kidney function, which can guide therapy
and potentially prevent kidney impairment or failure."
John P. Friel, former CEO of MEDRAD, Inc., said: "MediBeacon is building a
compelling technology focused on addressing an unmet patient need. Founders
Steve Hanley and Dr. Richard Dorshow are leveraging their years of experience
with this platform while at Mallinckrodt. The growth in the patent portfolio
and ability to recruit a prestigious Scientific Advisory Board establishes a
strong foundation for future success."
Steve Hanley, Chief Executive Officer, MediBeacon said: "Significant steps are
being made to bring our kidney function monitor to market. At our one-year
anniversary we are excited by our progress. Our team is keenly focused on
creating breakthrough products with an eye always on helping patients."
For the remainder of 2013, MediBeacon will continue its clinical evaluation of
the ORFM. The company anticipates launching first-in-man clinical trials later
this year and continuing to expand its patent estate for new applications.
MediBeacon LLC is a St Louis-based Medical Device company initially focused on
kidney function monitoring in real-time at the point-of-care. The need for
profoundly improved understanding of kidney function is accepted in many areas
of medical practice including intensive care units, radiology, intraoperative
care, drug dosing, cardiology, surgical interventions and in organ
About MediBeacon Leadership
Steve Hanley, Chief Executive Officer, and Richard Dorshow PhD, President and
Chief Scientific Officer, founded MediBeacon in August of 2012. Prior to
joining MediBeacon, Mr. Hanley worked in various positions of increasing
responsibility at Covidien for 18 years and is the former Global President of
Covidien/Mallinckrodt's Imaging Solutions Business Unit. Dr. Dorshow was a
Director of R&D with Mallinckrodt for several years, is co-inventor on over 60
U.S. issued patents and has published over 40 technical articles in the
optical diagnostic arena. Terence Stern, Vice President Business Development,
brings global finance and strategic development expertise having led the
buyout of Ralston Purina's former South American animal health business.
MediBeacon is housed within the Helix Center Biotech Incubator. Information
regarding MediBeacon can be found at medibeacon.com.
Contact: Steve Hanley, MediBeacon LLC, Office - 314-269-5808, Email -
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