AcceLINX to Host Webinar on Non-Dilutive Funding for Start-ups

AcceLINX, the musculoskeletal health business accelerator launched in 2017 by OrthoWorx, will present a webinar aimed at assisting entrepreneurs in obtaining non-dilutive funding to accelerate their establishment and growth.

Kris Parmelee, President, Parmelee Consulting Group, Inc and AcceLINX Non-dilutive Funding Consultant, will present the webinar on Thursday, May 3, 2018, at 4:00 pm. Ms. Parmelee will provide an introductory overview to the complex and highly competitive SBIR/STTR (America’s Seed Fund™) program.

The SBIR/STTR program is a federal grant and contracting program that awards more than $2.5 billion a year to small businesses to support the commercialization of innovative technology.  It is the largest source of non-dilutive capital for companies seeking to develop and commercialize innovative technology in the U.S.

The webinar will cover the following key points about the program:

 

• Definition of the Program
• Eligibility
• Key Elements of an SBIR/STTR Project
• Overview of Participating Federal Agencies
• Steps to Get Started

 

Ms. Parmelee has been providing federal grant proposal support services and project management to clients for over 17 years through her independent consulting firm. She joined the AcceLINX roster of consultants in February 2018. She specializes in SBIR/STTR preparations and submissions and has worked on over 250 proposals just in the last 10 years. Her proposals have been submitted to all 11 participating federal agencies, for both contract and grant solicitations, Omnibus and special solicitations, SBIR and STTR programs, and Phase I, Phase II and additional Phase programs (FastTrack, Phase IIB, etc.).

A graduate of Indiana University’s School of Public and Environmental Affairs, Ms. Parmelee is an entrepreneur herself, launching Lectio, LLC in 2015 to provide an assistive learning technology for children with dyslexia and ADHD.

 

How to Sign Up for Webinar

Entrepreneurs interested in taking advantage of the free webinar should go to the Resources page on the AcceLINX.com website (https://accelinx.com/resources/ ) and click on the webinar link in the Events section to register. The webinar is scheduled to be one hour long and there will be an opportunity for audience questions. AcceLINX plans to host similar topical webinars periodically throughout the year.

 

About AcceLINX

AcceLINX, a multistage musculoskeletal health business accelerator, was conceived and launched by OrthoWorx to provide an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Learn more about AcceLINX online.

 

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as “The Orthopedic Capital of the World.”

 

About SBIR/STTR

The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. The Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development arena.

AcceLINX to Collaborate with AMB Surgical on Novel Orthopedic Technology

AcceLINX, a musculoskeletal health business accelerator, and AMB Surgical II, LLC, Dayton, OH, have entered into an agreement whereby AcceLINX will provide consulting services to assist in the technical and regulatory development of AMB Surgical’s novel, smart automated growing rod.

According to AMB Surgical, the FLYTE™ Smart Automated Growing Rod (SAGR) has the potential to revolutionize treatment of scoliosis and long-bone deformities. AMB Surgical uses patented technology to electronically control the extension of rods used to direct skeletal alignment. For scoliosis treatment, the FLYTE SAGR would allow the physician to expand implanted spinal rods remotely, reducing the need for additional corrective surgeries. For long-bone deformity correction procedures, it would eliminate the need for manual adjustments to external frames, as well as reduce the likelihood of missing adjustments. FLYTE SAGR offers the promise of reduced surgical trauma, improved ease of use, better patient outcomes, and reduced cost of care.

AMB Surgical’s Chief Executive Officer Dan Sands said the company recognizes the need for additional resources to support development and alignment with strategic commercialization partners for its innovative technology.

“We appreciate the level and scope of orthopedic medical device expertise that is available from AcceLINX to round out our team,” Mr. Sands said. “We are quickly seeing the advantages of engaging with this group of highly skilled and experienced industry professionals.”

Sheryl Conley, AcceLINX President, AMB Surgical’s technology has excellent clinical and commercial potential.  “We are really excited about the technology that AMB Surgical has developed so far,” said Ms. Conley. “We look forward to working with their accomplished team to achieve a fully functioning prototype, the next key milestone in the company’s evolution expected later this year.”

Representatives from AcceLINX and AMB Surgical will be attending the AAOS Annual Meeting in New Orleans from March 7-9 and would welcome an opportunity to meet with parties interested in either the smart automated growing rod technology or in AcceLINX’s business acceleration services.

 

About AMB Surgical II, LLC.

Comprising a team of elite engineers and orthopedic industry experts, AMB Surgical is devoted to the development and commercialization of its FLYTE™ smart automated growing rod technology which holds promise to reduce anxiety and trauma from juvenile and adolescent surgeries. The invasive nature of surgery is, in itself, a difficult reality and one that impedes an individual’s ability to comfortably enjoy life.  AMB Surgical’s groundbreaking, patented technology is intended to reduce the necessity for invasive and repetitive surgery in children and teens with orthopedic deformities such as scoliosis and limb abnormalities.  FLYTE is a sophisticated electro-mechanical, software activated device to provide real-time biomechanical feedback to guide treatment, as well as allow surgeons to perform accurate, non-surgical skeletal adjustments. Through our work, AMB Surgical is advancing the boundaries of modern medicinal practices.

Learn more about AMB Surgical at www.ambsurgical.com, or contact Dan Sands at dan.sands@AMBsurgical.com.

About AcceLINX

AcceLINX, a multistage musculoskeletal health business accelerator, was conceived and launched by OrthoWorx to provide an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Learn more about AcceLINX online.

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as “The Orthopedic Capital of the World.”

AcceLINX Adds Subject Matter Experts to its Roster of Consultants

AcceLINX, the musculoskeletal health business accelerator launched in 2017 by OrthoWorx, announced today that it has added three new members to its roster of consultants who are available to assist startups in their growth from concept to commercialization.

Sheryl Conley, AcceLINX President, said the additions in the areas of manufacturing/operations, reimbursement and grant writing will augment the subject matter expertise already associated with AcceLINX.

“We are delighted that Roy Wiley, Mark Domyhan and Kris Parmelee have agreed to affiliate with us to expand the already substantial experience and expertise represented by our original core team,” said Ms. Conley. “Roy is an industry veteran with vast experience in product development and manufacturing operations; Mark is a recognized industry expert in the area of health economics and reimbursement strategies; and Kris has helped many startups participate in federal grant and contract programs to acquire non-dilutive funding to support the development of innovative technology.”

Ms. Conley noted that these areas of expertise are in addition to those already possessed by AcceLINX team members:  marketing and business development; research and development; quality systems engineering and manufacturing, regulatory affairs; commercial operations and business strategy; and intellectual property and compliance.

Mr. Wiley has over 30 years of executive experience in orthopedic product development and manufacturing to his credit. He spent the last nine years with Medtronic in a variety of manufacturing leadership roles of increasing responsibility, culminating in the position of Senior Director of Manufacturing/Site Leader. He has also held many positions in product development, including that of Director of Global Development – Extremities at Zimmer.  He holds a Bachelor of Science Degree in Engineering Physics from Miami University (of Ohio) and a Bachelor of Science Degree in Biomedical Engineering from Case Western Reserve University.

Mr. Domyhan has more than 20 years of experience working in reimbursement, health policy and health economics for various organizations, including orthopedic and cardiovascular medical device companies, providers and health systems.  He has held positions in the health economics and reimbursement functions in companies such as St. Jude Medical, Zimmer and Medtronic.  He has a Master of Business Administration degree with a focus on Healthcare Administration from the Wharton School, University of Pennsylvania, and a Bachelor of Science in Accounting from Minnesota State University, Moorhead.

Ms. Parmelee has been providing federal grant proposal support services and project management to clients for over 17 years through her independent consulting firm. She specializes in SBIR/STTR preparations and submissions and has worked on over 250 proposals just in the last 10 years. She is a graduate of Indiana University’s School of Public and Environmental Affairs and is an entrepreneur herself, launching Lectio, LLC in 2015 to provide an assistive learning technology for children with dyslexia and ADHD.

Beyond assembling a team of experts to provide specific domain expertise, AcceLINX continues to work very closely with an associated team that is focused on developing a venture capital arm to support musculoskeletal startups.  “We understand that capital remains a very large piece of the growth equation for startups, and we are diligently working to add venture capital to our range of services,” Ms. Conley said.

Original AcceLINX core team members include Ms. Conley, Mike Hawkins, David Anderson and Todd Dawson, all orthopedic industry veterans with significant experience and global exposure.

More detailed biographical information about each team member is available at https://accelinx.com/our-people/.

Representatives from AcceLINX will be attending the AAOS Annual Meeting in New Orleans from March 7-9 and would welcome an opportunity to meet with parties interested in AcceLINX’s business acceleration services.

About AcceLINX

AcceLINX, a multistage musculoskeletal health business accelerator, was conceived and launched by OrthoWorx to provide an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Learn more about AcceLINX online.

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as “The Orthopedic Capital of the World.”

Indiana University/IURTC and AcceLINX Form Partnership to Drive Innovation

Partnership could lead to development, commercialization of new health technologies

 

BLOOMINGTON, Ind. and WARSAW, Ind. — A recently signed university-industry partnership could develop new or more cost-effective therapies to treat patients in Indiana and around the world who are affected by injuries or diseases of the musculoskeletal system. Those conditions — which can restrict movement and cause serious pain — include bone fractures, ligament tears, degenerative disc disease of the spine and osteoarthritis.

Indiana University and its affiliate, the Indiana University Research and Technology Corp., have entered into a partnership agreement with AcceLINX, the business accelerator developed and launched by OrthoWorx. The partnership is designed to identify and support further development and commercialization of marketable musculoskeletal health technologies developed at the university.

Tony Armstrong, president and CEO of IURTC and associate vice president in the IU Office of the Vice President for Engagement, said the aim of the partnership is to bring faculty, student and staff ideas to market.

“If these inventors lack the commercial and operating experience to advance a technology, AcceLINX has the expertise and the network of resources to partner with us to help provide a quicker transition from idea to successful product or service,” Armstrong said.

President Sheryl Conley of AcceLINX expressed excitement about the partnership.

“Indiana University has an outstanding record of developing technologies in the health sector,” Conley said. “We look forward to assisting its researchers and IURTC in bringing new musculoskeletal innovations to market.”

Through the partnership, IU and IURTC will have access to AcceLINX industry and subject-matter experts. They will provide commercial and technical screening of university-developed technologies and feedback to inventors, as well as assistance in sourcing capital, typically on a pro bono basis. IU and IURTC will also have access to AcceLINX experts on a fee-for-service basis for more involved projects.

In addition, AcceLINX will work with IU and IURTC to identify opportunities for university-related faculty or graduate students to participate in research for technologies originating in the private sector.

Conley said the partnership could impact the state in several different ways.

“We have a tremendous opportunity to support musculoskeletal-related technologies developed right here in the state of Indiana at our premier universities,” Conley said. “In the process, we may attract additional investment capital to the state, create or sustain jobs in the area, and further cement our reputation as the orthopedic capital of the world.”

About Indiana University Research and Technology Corp.

IURTC mobilizes efforts to address entrepreneurial challenges, including finding talent to lead and staff IU innovation-based companies, securing capital to be made available at all development stages, offering mentors and networking opportunities, and developing appropriate startup space and programming.

About Innovate Indiana

Innovate Indiana engages strategic partners to advance Indiana University’s intellectual resources and expertise, enhance Indiana’s economy, and improve Hoosiers’ quality of life.

About AcceLINX

AcceLINX, a multistage musculoskeletal health business accelerator, was conceived and launched by OrthoWorx to provide an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Learn more about AcceLINX online.

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as “The Orthopedic Capital of the World.”

AcceLINX to Present Webinar: Reimbursement Insights for Musculoskeletal Start-ups

AcceLINX, the musculoskeletal health business accelerator launched by OrthoWorx, will present a webinar at 4 p.m. on September 28 to provide entrepreneurs important information regarding reimbursement considerations and their impact on their start-up businesses.

“It can be tempting to focus on the technology behind a product or therapy, but ultimately success will be determined by whether payers see value that they are willing to pay for,” said Sheryl Conley, President of AcceLINX.  “That’s why it’s important that start-ups have a reimbursement strategy right at the start of the development cycle and they make reimbursement an integral part of their business planning.”

The presenter for the webinar will be Mark Domyahn, the president of Pursuance Consulting, a consulting firm focused on strategic health economics and reimbursement consulting for medical device companies. Mr. Domyahn has held leadership roles at many high-profile medical device companies, including Zimmer, Inc.  His responsibilities included oversight of reimbursement activities globally across the companies’ portfolios, such as working collaboratively with various stakeholders to secure adequate reimbursement for multiple technologies, as well as developing economic value propositions for payers, hospitals and physicians.

Key topics to be covered for entrepreneurs during the webinar include the following:

• When should I consider reimbursement in the product development lifecycle?
• What reimbursement steps should a start-up consider?
• Overview of reimbursement principles
• Securing incremental hospital payment for new technologies
• Overview of recent changes to alternative payment models

“Mark is exceptionally well qualified to address the challenges and opportunities represented by reimbursement considerations,” said David Anderson, Vice President of AcceLINX. “Providing entrepreneurs with information on this topic should prove immensely helpful to their short-term and long-term business goals.”

In addition to his past position at Zimmer, Mr. Domyahn served in reimbursement leadership roles at CardioMEMS, Restore Medical, Medtronic and, most recently, St. Jude Medical. Prior to those roles, he spent 10 years in health care consulting, assisting payers, providers, pharmaceutical and medical device companies on various strategic initiatives and projects. He holds an MBA with a focus on Healthcare Administration from the Wharton School, University of Pennsylvania, and a Bachelor of Science in Accounting from Minnesota State University, Moorhead.

 

How to Sign Up for Webinar

Entrepreneurs interested in taking advantage of the free webinar should go to the Resources page on the AcceLINX.com website (https://accelinx.com/resources/ ) and click on the webinar link in the Events section to register. The webinar is scheduled to be one hour long and there will be an opportunity for audience questions. AcceLINX has hosted similar topical webinars previously and plans to continue to do so periodically.

 

About AcceLINX

AcceLINX is a multi-stage, musculoskeletal health business accelerator that provides an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Additional information available at www.accelinx.com.

 

About OrthoWorx                                         

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx (www.orthoworxindiana.com) is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as The Orthopedic Capital of the World.®

AcceLINX to Present Webinar: Legal Considerations for Start-ups

AcceLINX, the musculoskeletal health business accelerator, will present the second of a series of periodic webinars aimed at assisting entrepreneurs as they start and grow their businesses.   On June 6, 2017 from 4pm to 5pm, attorneys from Rothberg Logan & Warsco LLP will cover a variety of legal topics that can impact a start-up business.

“Legal matters have the potential to slow or stop the progress a start-up makes during its development,” said Sheryl Conley, President of AcceLINX.  “If entrepreneurs are aware of those issues they can plan to protect themselves and their assets while minimizing bumps in the road.”

Key topics to be covered for entrepreneurs during the webinar include the following:

 

• What type of legal entity is most appropriate for my business?
• What legal documents are needed to set up my business?
• What are the entrepreneur’s Fiduciary responsibilities?
• Do I need a Board of Directors?
• What are some of the issues surrounding fund-raising?
• What are the key employment laws I should be aware of?
• What are the rules and regulations around working with health care professionals?
• What are the key elements of a Supplier Agreement, including Intellectual Property protections?
• What are the key elements of a Distribution Agreement?

 

Presenters for the webinar will be Dennis Dykhuizen, the senior partner in Rothberg Logan & Warsco’s Health Care and Business practice, and Alex Platte, who works on a variety of business matters, including corporate formations, commercial transactions and mergers.

“We are pleased to be able to partner with Rothberg Logan & Warsco to highlight a few of the decision points entrepreneurs should be thinking about as they move along their development timeline,” said David Anderson, Vice President of AcceLINX.   “We can’t cover every eventuality in an hour, but we can raise awareness of some of the most important questions.”

How to Sign Up for Webinar

Entrepreneurs interested in taking advantage of the free webinar should go to the Resources page on the AcceLINX.com website (https://accelinx.com/resources/ ) and click on the webinar link in the Events section to register. The webinar is scheduled to be one hour long and there will be an opportunity for audience questions. AcceLINX plans to host similar topical webinars periodically throughout the year.

About AcceLINX

AcceLINX, a multi-stage, musculoskeletal health business accelerator, was conceived and launched by OrthoWorx to provide an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Additional information available at www.accelinx.com.

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx (www.orthoworxindiana.com) is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as The Orthopedic Capital of the World.®

AcceLINX to Present Webinar: Fund-raising Insights for Musculoskeletal Start-ups

AcceLINX, the musculoskeletal health business accelerator recently launched by OrthoWorx, will present a webinar to provide entrepreneurs with key insights regarding fund-raising to support their start-up businesses.

“Many start-ups with great business concepts never realize their full potential because they lack the capital to develop their technologies, build out a business plan or achieve traction in the marketplace,” said Sheryl Conley, President of AcceLINX.  “That’s why we chose fund-raising as the first topic for what will be a series of webinars designed to support entrepreneurs in the musculoskeletal health field.”

The presenter for the webinar will be Gary Stevenson, the Co-founder and Managing Partner of MB Venture Partners, which has $120 million of committed capital. Stevenson’s firm has been investing in start-ups for 15 years and more than 70% of their capital has been invested in musculoskeletal start-ups, mostly medical device and biologics companies.

Key topics to be covered for entrepreneurs during the webinar include the following:

• Who should I approach for capital?
• How much capital should I try to raise?
• How should I determine company valuation?
• What are the most appropriate deal structure options?
• How should I optimize my fund-raising pitch?
• What other factors should I consider in choosing a capital partner?

 

“Gary is exceptionally well qualified to kick off our webinar series,” said David Anderson, Vice President of AcceLINX.   “At MB Ventures, he not only evaluates and invests in start-ups, he also takes an active role and serves on the boards of many of their portfolio companies. In addition, for 15 years Gary’s firm has hosted the annual Musculoskeletal New Ventures Conference, one of the most popular events in the medical technology innovation field.”

How to Sign Up for Webinar

Entrepreneurs interested in taking advantage of the free webinar should go to the Resources page on the AcceLINX.com website (https://accelinx.com/resources/ ) and click on the webinar link in the Events section to register. The webinar is scheduled to be one hour long and there will be an opportunity for audience questions. AcceLINX plans to host similar topical webinars periodically throughout the year.

About AcceLINX

AcceLINX is a multi-stage, musculoskeletal health business accelerator that provides an unmatched level of industry-specific support to select inventors and entrepreneurs looking to enhance their prospects of business success. AcceLINX leverages the unprecedented concentration of medical device industry resources in northern Indiana and the deep industry expertise and global networks of its team members to provide a unique capacity to accelerate the results of start-ups it engages with. Additional information available at www.accelinx.com.

About OrthoWorx

Formed in 2009 with initial funding from the Lilly Endowment, OrthoWorx (www.orthoworxindiana.com) is a community-based initiative that works strategically and collaboratively with the orthopedic industry and other stakeholders to ensure that the Warsaw region continues to reap the social and economic benefits that derive from its position as The Orthopedic Capital of the World.®

AcceLINX Musculoskeletal Health Business Accelerator Launches Website