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Startup Description – Saladex Biomedical is the inventor and developer of MyCare™, a line of chemotherapy monitoring assays tests to aid oncologists in adjusting chemotherapy drug dosing by measuring their concentration in the blood of cancer patients.  Saladex also works with pharmaceutical companies to develop companion diagnostics to achieve optimal patient benefit for drugs in the development pipeline. In June 2010, Saladax partnered with Bristol-Myers Squibb to develop clinical diagnostics. Watch a video on Saladax here. 

Who are the target clients? Physicians, oncologists, diagnostic and pharmaceutical firms

So what? While Saladax’s technology platform can address a variety of therapeutic areas, the initial focus is oncology. By addressing dose optimization, a routine aspect of therapeutic drug management but not as common in oncology, Saladex is able to objectively assess whether patients are receiving the optimal dose of their prescribed medications in order to increase efficacy and reduce toxicity.

What does CI think is innovative? Pharmacogenomic testing is only half of the equation in optimizing drug dosage in oncology.  After making a best guess of the right drug, and the right dose, there’s still room for error in the individual patient.  Companion diagnostics (CDx) to determine drug levels is part of the solution for post-prescription monitoring and titration.  Saladax is creating blood tests that can accurately monitor drug levels, giving physicians greater control in cancer treatment to optimize efficacy and toxicities.

Help this start-up! According to its website, Saladax actively pursues strategic alliances for co-promotion and/or distribution of its proprietary line of MyCare™ products. It also seeks leaders in the in-vitro diagnostic industry that market instrument platforms on which MyCare tests will be performed, major reference laboratories that would offer MyCare testing services, and pharmaceutical companies that market anticancer drugs that would further enhance patient outcomes via the Saladax MyCare technology platform.

This is a unique opportunity to efficiently make connections. The number of medical device companies in attendance will be limited, and the attendees will be customized to meet the needs of the available positions.

If you’re in the Boston area, this is an event you’ll want to attend. Learn more about some of the hiring companies by clicking their names in the tags box below.

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Startup Description – Endotect is a medical device for diagnosis and assessment of endothelial dysfunction (ED), a common denominator of all cardiovascular disease, and an important factor in many other related diseases, such as chronic renal failure, and diabetes.  The device is easy to use, non-invasive, and inexpensive.  The device is on the threshold of CE and FDA regulatory trials in the US and Europe.

Who are the target clients? Cardiologists, Nephrologists and General Physicians

So what? ED is the critical pathway for all CVD.  Without reversing ED, CVD risk is high, and treatment of CVD conditions (even in advanced CVD stages such as chronic heart failure) is not effective.  ED is reversible with concomitant reduction in CVD risk and increase in effectiveness of therapies.  This reversal is achievable with some currently available drugs and other interventions, provided that guided treatment based on ED status monitoring is used.

What does CI think is innovative? Detecting ED early is crucial for all CVD treatment and for CVD prevention.  While other ED diagnostic and assessment devices exist, there are questions regarding the reproducible of results, and applicability over the full spectrum of CVD disease.  Endotect plans to address both problems, and it uniquely measures two parameters that act concomitantly in a system patented by the Endotect inventors.

Help this start-up! The device is available for out-licensing. They’re looking for strategic partners.

Everyone is welcome – physicians at any training level, companies that want to meet clinical talent, and life scientists transitioning in their careers.

Join us and network!

The panelists are:

• Omar Amirana, MD – Partner, Oxford Biosciences; Co-Founder, Propel Careers

• Wing Delatorre, MD, MBA – Head of Business Operations bi³; Director, New Ventures Biogen Idec

• Kiran Reddy, MD, MBA – Senior Associate, Third Rock Ventures

• Alejandro Reti, MD, MBA – Vice President, Verisk HealthCare

• Richard von Rueden, MD – Managing Director, J. Robert Scott Executive Search

Scott Kirsner and Colleagues designated June as Innovation Month.  Of the 160 innovation events this month listed by Greenhorn, six are related to healthcare:

MassMEDIC’s Boot Camp for Entrepreneurs

The Convergence: Life Sciences Leaders Forum

Adapt and Thrive – How ABIOMED has the heart to thrive in the evolving Medical Device industry

Massachusetts Life Sciences Innovation Day 2010

The Perfect Storm in MedTech: Will the US Remain the Global Leader?

MHT’s Emerging Technologies Forum: Health IT and the Cloud

Honestly, that’s more than I expected, but it’s still a minority.  And anyone who has attended both healthcare related events and more “tech” focused ones can tell you the events feel extremely different. The tech conferences are infused with a youthful energy (even though the panelists don’t necessarily reflect that, as Jules Pieri of the Daily Grommet points out.

Health care conferences are well, the opposite.  Just read the titles of the conferences above – they have little appeal to the general audience.  I’m guilty of this, too – my company is hosting an upcoming event on June 29 titled “Physicians Interested in Entrepreneurship & Industry”.  As catchy as Tech Tuesday?  Not really.

Clark Waterfall mentions the challenges to innovation in New England.  Add to that the conservative training health care professionals face, lengthy regulatory processes, and constantly changing reimbursement issues, and now you’ve got the challenges to health innovation.

How do we reverse this and lower the barrier to innovation for those in the ecosystem already? I’ll talk about physicians – partly because I Understand their situations, but also because I’ve spoken with numerous doctors about this topic.

Let’s start with the basics – becoming a Doctor takes forever.  By the time you get advanced degrees after years of conservative training, a lot of innovation potential has been filtered (or sapped) out. Saddled with six figure loans, starting a family, and finally making more than a resident salary, physicians often aren’t keen on the idea of potentially starting over outside a clinical setting.

But health innovation is a challenge for other reasons as well.  Physicians are driven by the science – it’s what they get pimped about, it’s how they get evaluated, and it’s how they avoid lawsuits.  They are driven by a desire to achieve competence in the application of that science.  But the rules and behaviors that emerge from these motivations are often contradictory to innovation.  In starting a new venture, you face uncertainty, are compelled by business strategy (and gut instinct), and you need to work as a team. You may lead the team as a physician, but you have to share the decision making and rely on other’s experience and expertise – that’s different.  Scaling that wall for a physician starts looking very daunting.  Try to forget what you learned in med school, and I’m not talking simply about the science.

As our contribution to June Innovation Month,  careinnovators hopes you’ll join us on June 29 at the Royal Sonesta Hotel in Cambridge.  Come listen to a great physician panel, network with likeminded innovators, and enjoy complimentary food and a drink!  We’re holding this event in response to not only our personal experiences, but to address the demand we receive for physicians to serve as Chief Medical Officer or Medical Director for one startup or another.

Preparing health care professionals, and not just physicians, for the innovation economy is a bigger project in need of many ideas.  We’ll be trying different solutions as a core part of what we do.  Our “Innovation Resolution” at careinnovators is to help make sure that Innovation Month of June 2011 will be filled with health care professionals pitching, co-founding, and simply joining in.

What are your thoughts?

This is a rare and unique opportunity to meet top physicians in industry positions and learn from your peers on how to leverage your clinical expertise into industry careers.  Connections are key to great career opportunities, and it’s never too early (or late) to network!

• Explore paths to full-time, part-time, and consulting careers
• Learn from accomplished physicians how you can gain industry experience
• Introduce yourself to like-minded physicians, health entrepreneurs and industry leaders
• Meet recruiters that specialize in physicians at different career stages

This is a great event for physicians at any point in their training who want to explore the transition from clinical to industry careers – medical students, residents, and veteran practicing physicians are encouraged to attend.  Stakeholders looking for their next Medical Director, Chief Medical Officer, or Co-Founder are also welcome.

The panelists are:

• Omar Amirana, MD – Partner, Oxford Biosciences; Co-Founder, Propel Careers
• Kiran Reddy, MD, MBA – Senior Associate, Third Rock Ventures
• Richard von Rueden, MD – Managing Director, J. Robert Scott Executive Search
• Entrepreneur Panelist (TBC)
• Christopher Tsai, MD, MPH – Co-Founder, careinnovators; Director of Clinical Informatics, Generation Health (moderator)

Click their names for detailed bios.

Space is limited! Register for the event at http://careinnovators-june2010.eventbrite.com

Cost is $25; $35 at the door.  Includes appetizers.

Event Details

June 29, 2010 (Tuesday)

5:30 – 7:00      Welcome:  arrive leisurely; enjoy complimentary appetizers and cash bar.

7:00 – 8:00      Panel Discussion

8:00 – 9:30      Reception: meet the panelists and continue networking

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Startup Description - Recombinant Data Corp. offers an integrated suite of healthcare data warehousing and clinical intelligence products, professional open source support, as well as strategy and governance consulting services to clinicians, researchers and CIOs. The company’s expertise is in extracting and cleansing healthcare data for multiple secondary purposes including translational research and quality improvement initiatives. Check out their webinars.

Who are the target clients? Healthcare institutions such as providers, health systems, academic medical centers, pharmaceutical, hospitals, government, and physician associations.

So what? Recombinant is able to maximize the value of data for health institutions.  As a result, its clients are able to use the clinical data to achieve higher quality outcomes, accelerate research, and lower costs.

What does CI think is innovative? A recent study released said that data management is the top issue for healthcare executives.  Recombinant addresses this worry by not only providing data warehousing – a challenging task alone – but also generating analytics. By simplifying a complex process, Recombinant is able to take clinical data to the next level of usefulness.

Help this start-up! Recombinant is hiring. Please visit: http://www.recomdata.com/www/about_us_careers.html

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Startup Description – Usable Health offers consumers real-life food recommendations derived from evidence-based medicine.  Based on your food tastes, prior eating habits, and the food options available to you in real-time, Usable Health suggests alternate foods options to help you attain your health goals.  Personalized dietary suggestions have never been so easy!

Who are the target clients? Employers, Health Caregivers (counselors, nurse practitioners, etc.), Health Plans, Medical Home services

So what? Usable Health sets itself apart from other companies for several reasons.  It offers consumers decision support using real life choices in real time.  It also rolled evidence based guidelines into real life choices.  Often it takes years for guidelines to trickle down to users to use in their lives, but Usable Health is able to get its participants to incorporate them now.  Users can get a recommended alternative meal to a Big Mac that’s better for their health condition, but still matches their food tastes, right at the MacDonald’s counter!

What does CI think is innovative? Data, data, data!  The Usable Health team keeps one eye on analytics at all times.  Consumer health companies easily love the tech aspects, but many fewer have such a strong focus on analytics behind the scenes and follow research methodology for proving their product’s success.

Help this start-up! Usable Health is actively seeking clients and would like to connect with other consumer health entrepreneurs and investors.

Have a Bright Idea for mHealth?  The World Congress invites you to apply for the Innovation Incubator Poster Pavilion at the World Congress 2nd Annual Leadership Summit on mHealth, July 29-30, 2010 in Boston.

With the mHealth industry growing rapidly, the Summit provides the key players (providers, payers, policy-makers, device manufacturers and telecomm carriers) with insight into the clinical efficiencies and business opportunities for integrating mobile technologies into the care delivery model.

As a participant in the Incubator Poster Pavilion, innovators share their products in the Executive Networking Lounge with prominent stakeholders in the mHealth industry.  Participants are encouraged to bring their actual innovation for display with their posters.  It is great exposure and networking for any start-up.

Apply before the limited spots are filled!  Submit your abstract here.

Early bird registration ends on June 25.  Use careinnovators Discount Code QQA829 for $200 off the current rate (not applicable to government registration).

careinnovators will be at the Summit – let us know if you’ll be there!

With so many health companies, how do the best ones rise to the top?  With a Top 5 List, of course!

The Institute for Health Technology Transformation released its top five public companies to watch in health care technology for 2010.  The companies are:

• Accretive Health – managed services for revenue cycle operation
• Merge Healthcare – develops and integrates IT for a better electronic healthcare experience
• MMR Information Systems – develops and markets PHRs
• Quality Systems – develops and markets computer-based practice management applications
• SXC Health Solutions – pharmacy benefit management services and consulting

Follow news and updates on these companies with the Public Watchlist “iHT2 2010 Health Tech Firms to Watch”.

Read past the break to learn what factors iHT2 considered.“In anticipation for the 2010 Health Technology Investment Forum, taking place September 21st in New York City, we are pleased to announce the Top 5 Public Companies to watch for this year in Health Care Technology,” said Waco Hoover, CEO, Institute for Health Technology Transformation. “These companies were selected by our research team because of their phenomenal growth, management teams, return to shareholders, future outlook, as well as innovation in their respective technology offerings. Additionally we looked at companies that range from early stage, mid cap, and large cap in health it that are publicly traded.”

The 2010 Health Technology Investment Forum, taking place September 21, 2010 in New York City, is the premier conference for CEOs, investors, analysts, healthcare executives, and industry stakeholders focused on healthcare information technology.