Leading Startup Awarded $25,000 Prize for Its Extracorporeal Blood Cleansing Device
LOS ANGELES, Wednesday, November 3, 2021 – MedTech Innovator, the largest accelerator of medical devices in the world, today announced PATH EX as the 2021 Value Award winner during the MedTech Strategist Innovation Summit San Francisco.
Based in Houston, PATH EX is developing an extracorporeal blood cleansing device (CycloPE) designed to selectively remove pathogens, including multi-drug resistant bacteria and endotoxins from circulating blood. As winners of the Value Award competition, PATH EX will receive a $25,000 non-dilutive cash prize, a $15,000 in-kind award from Device Access UK to support navigating the complex reimbursement landscapes in healthcare markets, and a profile in an upcoming issue of the MedTech Strategist. PATH EX was also awarded the 2021 MedTech Innovator Execution Award and the Virginia Shimer Rybski Memorial Award during The MedTech Conference powered by AdvaMed earlier this year.
Five startups from MedTech Innovator’s annual Accelerator program were recognized as having outstanding value propositions and invited to participate in the organization’s Value Award competition. Each company was given the opportunity to present before a panel of industry judges and the audience of the MedTech Strategist Innovation Summit.
This year’s Value Award finalists – Lifelet Medical, Orthox, Retia Medical, and Tympany Medical – each had seven minutes to present their products, business plans, value propositions, and to answer the judges’ questions. As finalists, each company was awarded an $8,000 in-kind award from Device Access UK.
Judges of the event included Jim Warren, business unit director, Jabil Healthcare; Noam Krantz, vice president of venture investments, Johnson & Johnson Innovation; Lynn Carney, manager of business development and marketing, Medmarc; Jake Goble, innovation leader, Medical Products Division, W. L. Gore & Associates.
“I was thrilled to see PATH EX voted as this year’s Value Award winner by the audience of investors and industry leaders at the Medtech Strategist Innovation Summit,” said Paul Grand, CEO of MedTech Innovator. “I believe PATH EX is developing a truly game changing technology, and I am proud to support this team in their journey to improve the care of patients with sepsis.”
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About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical device companies in the world and the premier nonprofit startup accelerator in the medical technology industry.[i] Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the health care system. MedTech Innovator matches health care industry leaders with innovative early stage and emerging-growth medtech companies for mentorship and support.
For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter and on LinkedIn. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to its monthly newsletter.
[i] Gibbs, M., Johnson, B., Silva, B. A., & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/blog/life-science-accelerators-insights/