MedTech Innovator Announces the 2024 Mid-Stage Grand Prize and Value Award Winners
LATTICE Medical and Flow Medical Awarded the Prestigious Mid-Stage Grand Prize and Value Award at the MedTech Strategist Innovation Summit
LOS ANGELES – November 21, 2024 – MedTech Innovator (MTI), the world’s largest accelerator of medical technology companies, today announced that LATTICE Medical won the 2024 Mid-Stage Grand Prize competition, and Flow Medical won the 2024 Value Award during the MedTech Strategist Innovation Summit in San Diego. LATTICE Medical received $200,000 in non-dilutive cash proceeds as the Mid-Stage Grand Prize winner, and Flow Medical received $25,000 in non-dilutive cash as the Value Award winner. During each competition, finalists pitched their technology and answered questions from a panel of industry experts. After the presentations, an audience of industry experts voted in real time to select the winner.
These two competitions conclude the MTI accelerator for 2024, which included 65 cohort companies. Featuring best-in-class emerging medical device, diagnostic, and digital health companies from around the globe, the cohort received unparalleled visibility and access to leading medtech manufacturers, providers, investors, and other industry stakeholders.
Mid-Stage Grand Prize Competition
Now in its second year, the Mid-Stage Competition was established to allow the more mature medtech companies in the accelerator cohort to compete for recognition and cash awards. This year’s mid-stage competition finalists, selected from among 21 mid-stage companies in the cohort by a vote of MTI’s selection committee, were Arsenal Medical (Waltham, Mass.), LATTICE Medical (Loos, France), Ozlo (Boston) and Somnics Health (Redwood City, Calif.). Each finalist received a prize of $25,000 in non-dilutive funding.
“I’m thrilled to see LATTICE Medical win our Mid-Stage Grand Prize Competition, demonstrating all-around value, momentum, and execution, the criteria our judges considered to select the Mid-Stage finalists,” said Paul Grand, CEO of MedTech Innovator. “The company’s MATTISE 3D-printed, resorbable breast implant is going to change the way reconstructive surgery is done following breast cancer, offering surgeons and their patients a simplified, natural and appropriate breast reconstruction.”
“Winning the Mid-Stage Award is both surprising and wonderful. For us, it’s the recognition of seven years of work in breast cancer reconstruction as well as consultation with the American Plastic Surgery Association to bring new options to women and enhance the value of our company,” said Julien Payen, CEO, LATTICE Medical. “It will also elevate the issues in breast reconstruction that we are addressing with our innovative biomaterials and help us gain access to the U.S. market.”
Value Award Competition
The Value Award Competition is the culmination of MTI’s comprehensive Value Program, recognizing the development of outstanding value propositions in each finalist company’s respective clinical areas. All participants in the MedTech Innovator accelerator had the opportunity to refine their value propositions over several months with input from MTI’s 27 value coaches. The value coaches nominated 35 companies for the finals, from which 15 were shortlisted for consideration, and after a vote by MTI’s selection committee, Cellular Vehicles (San Mateo, Calif.), CranioSense (Boston), Flow Medical (Chicago), iCE Neurosystems (Washington, D.C.), and myBiometry (Boston) were named the finalists, with Flow Medical crowned the winner after the live audience vote.
“Congratulations to Flow Medical for winning our Value Award, bringing precision medicine to interventional pulmonary embolism treatment, with an all-in-one angiography, infusion, and monitoring catheter designed to enable more personalized treatments, fewer complications and improved outcomes,” said Grand. “We are excited for the entire Flow Medical team, especially CEO and co-founder Jennifer Fried, who is back with her second company in MTI and greatly deserving of this win.”
“It was an honor to be on stage with such an impressive group of Value Award finalists, each of whom stands to make an exceptional positive contribution to the healthcare ecosystem,” said Jennifer Fried, CEO and co-founder of Flow Medical. “The first time I went through the MedTech Innovator Value Program with my company Explorer Surgical, it was a software company. Now, working with a traditional medical device company, the considerations are quite different. The value coaches have been instrumental in helping us bridge that gap and chart a course for success.”
Expert Panels
Two distinguished panels of judges engaged in Q&A sessions with the finalists before the audience cast their votes. The Mid-Stage Grand Prize finalists were questioned by Abigail Hunter-Syed, Director of Olympus Innovation Ventures, Olympus Corporation, Mirren Mandalia, Senior Director, Global Business Development, Johnson & Johnson MedTech and Andrea Para, Director of Exploration, Edwards Lifesciences. The Value Award expert judge panelists were Bill Perry, Lead Advisor, American Society of Plastic Surgeons, Tom Shehab, MD, Managing Partner, Arboretum Ventures and Jason Halac, Senior Director, Dexcom Ventures.
About MedTech Innovator
MedTech Innovator (MTI) is the world’s largest accelerator of medical technology companies. Its mission is to improve human health by accelerating the growth of companies that are transforming patient care. MTI has been a catalyst for groundbreaking healthcare solutions, sourcing nearly 12,000 applicants and fostering the growth of 717 companies that have collectively raised nearly $9 billion in follow-on funding after graduating from MTI and introducing 350+ products to the market, transforming the lives of millions.
For more information about MedTech Innovator, its annual programs, portfolio of industry-leading startups, and insights on trends, visit MTI’s website, follow it on LinkedIn, and subscribe to its monthly newsletter.
Media Contact:
Helen Shik
Pazanga Health Communications
hshik@pazangahealth.com
617-510-4373
