hit in actionmd.himsschapter.org/sites/himsschapter/files/...a health it accelerator is an intensive...
TRANSCRIPT
Richard BendisPresident & CEO
BioHealth Innovat ion, Inc.
February 6, 2014
HIT in Action:A Maryland Perspective
HIMSS 2014 Legislat ive Talking Points
1. Expand the availability of telemedicine for patient care2. Continue to support CRISP HIE services expansion3. Ensure consumer privacy and security– Support harmonization of regulations between neighboring
jurisdictions– Support efforts to develop a consistent nationwide patient
data matching strategy
Maryland’s Tr iple Aim Roadmap
Limit hospital per capita spending to an annualgrowth cap of 3.58% Reduce total Medicare hospital spending by
$330M over five years Limit total growth in Medicare spending per
beneficiary to no more than national growth Reduce the readmissions rate to the national
average within five years Reduce infections and other hospital-acquired
conditions by 30 percent within five years
www.healthaffairs.org/blog/2014/01/28/marylands-triple-aim-roadmap/
Reduce Costs | Enhance Quality and Experience | Improve Health
Population: 5.9 million people
59 Federal Laboratories, Centers, &Institutes in Maryland
Maryland Federal R&D investmentexceeding $12 billion annually
JHU and USM represent another $3.5 billion in annual R&D
State of Maryland: Federal & University Resources
The Region – Central Maryland
- Unrivaled Research Assets -- Unfulfilled Commercial Promise -
What is A Regional Innovation Intermediary?
An organization at the center of the Central Maryland region’sefforts to:– Align local technologies, assets and resources
– Advance Innovation
Regionally-oriented
Private-public partnership,501(c)(3) nonprofit
Market-driven, privatesector-led
Neither a governmentinitiative, nor a membershiporganization
Connects Private,Public and
Academic Sectors
Connects Bio-Health Cluster
Industries
ConnectsRegional,
National andGlobal Markets
Connects CentralMaryland
Communities
BHI: An Innovation Intermediary that Connects
BHI Partners and Sponsors
GovernmentPrivate Sector
Academia
Non-Governmental
Non-Governmental
Government
Academia
PrivateSector
BHI Program Structure
PROOF OF CONCEPT
(Technological Feasibility)
Laboratory Push
“It Works!”
PROOF OF COMMERICAL RELEVANCE
(Market Pull)
“It Works To Solve A Problem”
“I’ll Buy It”
Innovation Paradigm Shift
Therapeutics
Diagnostics
Medical Devices
Healthcare Services
E-Health
Mobile Health
Electronic Medical Records
Health Informatics
BioHealth Cyber Security
BHI Technology Focus
PIA between BHI and NIH’s Office of Technology Transfer (OTT) thatsupports the 27 NIH institutes’ $3 billion intramural research and the
Food and Drug Administration to promote and foster cooperativeresearch and accelerate technology commercialization amongNIH/FDA, businesses, and universities.
PIA between BHI and the Telemedicine & Advanced TechnologyResearch Center (TATRC) to capture USAMRMC and TATRCresearch outcomes and promote further research, productdevelopment, commercialization, and economic developmentopportunities. TATRC has funded 241 MD based projects over thelast 12 years.
Partnership Intermediary Agreements
Todd Chappell (NIH-OTT)Todd assists the Office of Technology Transfer (OTT) in the evaluation of existing technologies, provide anentrepreneurial perspective on new licensing proposals from start-up companies, advise on opportunitiesfor new ventures, assist with developmental strategies, and mentor scientists to help ensure their researchbecomes commercially valuable.
Ken Malone (UM Ventures)Ken has built his career on creating economic value from science. Whether it was developing new businesslines for global corporations or spinning out new ventures from universities, he has engaged in thecommercialization of hundreds of new products in advanced materials and life sciences.
Ram Aiyar (NHLBI)Ram assists the National Heart Lung and Blood Institute (NHLBI) in translating disruptive science intocommercially viable technologies. He works with the relevant stakeholders within the NIH to developcommercial plans and/or develop licensing opportunities such that the NIH technologies can be translatedinto commercially viable entities that will solve unmet medical needs of patients.
Rich Moore (NIH-OTT)Dr. Moore previously served as the Chief Scientific Officer for OpGen, Inc. In that role, Dr. Moore providedleadership over multiple R&D functions, and led the company's Scientific and Clinical Advisory Boards. Priorto that, he spent 12 years at BD Diagnostics holding various positions, most recently as R&D Director,Systems Integration and Advanced Technology.
BHI Entrepreneurs-in-Residence
BHI Client Companies
Developing a therapeutic platform that can be adapted to target a wide varietyof cancers.
Specializes in automatically diagnosing medical conditions in medical scans,tests, and sensors with minimal human support.
Developing and marketing Organ-on-a-Chip solutions for the pharmaceuticalindustry.
Mehr Medical Developing devices for cardiovascular procedures that will solve high unmetneeds in the transcatheter valve replacement space.
MockV Developing novel viral clearance kits to be utilized during process developmentbio therapeutics.
Developing sensors that can detect harmful chemicals mixed in air in very smallquantities, such as industrial chemicals, and other pollutants.
Developing medical devices related to image-guided, minimally-invasive nichemarkets.
Developing a platform vaccine like particle technology that has the potential tobe used for various diseases including cancer.
PriceWaterHouseCoopers | CB Insights | Funding Post
2007 2013
$31.9 billionInvestment
$21.1 billionInvestment
39%
4,211Deals
2,505Deals
40%
$5.4 millionAverage Deal Size
$8.4 millionAverage Deal Size
35%
410Active* VC Firms
460Active* VC Firms
11%
*VC firms completing 4 or more deals per year
US Venture Capital Investment
http://www.cbinsights.com/blog/trends/2013-seed-venture-capital-investors
http://www.cbinsights.com/blog/trends/venture-capital-firms-active
2013 Maryland
$663 millionInvestment
71Deals
$9.3 millionAverage Deal Size
Small Business Trends | Alleywatch
US Angel Investment
2007 2013*
258,200Angel Investors
134,895Angel Investors
%
$27.3 billionAngel Investment
$9.7 billionAngel Investment
%
57,120Companies Financed
28,590Companies Financed
%
$478,000Avg. Deal Size
$337,850Avg. Deal Size
%
*For Q1&Q2
2013 US VC Health IT Investment
www.alleywatch.com/2013/11/the-2013-healthtech-venture-capital-and-angel-funding-report/
$571M2013
Total Health ITInvestment
83Deals
Global mHealth Market Growth
www.fiercemobilehealthcare.com/story/global-mhealth-market-reach-102-billion-2018/2013-01-09
$1.3B
$10.2B
2012
2018
41.5%compounded annual
growth rate
US Health IT Stat ist ics
www.hitconsultant.net/2012/12/04/45-mind-blowing-digital-health-statistics-and-trends
88% of physicians wantpatients to be able tomonitor their health athome
Analysts say Consumersare willing to spend$14B on digital health
# of adults using mobilephones for health info grew from 61M to 75M
90% of patients want to self-manage their healthcare
Star tup Stat ist ics
New business owners in 2012: 514,000 Average founding team age: 35-44 Avg. Funding per company: $1.5M 75% of startups fail 90% of products fail 18% of entrepreneurs succeed in their first
venture
www.slideshare.net/mashable/startup-success-by-the-numbers
Help 9 companies achieve critical businessmilestones in 4 months
Provide guidance from successful entrepreneurs
Give companies the chance to tap into theregion’s wealth of federal healthcare institutions
DreamIt Health Accelerator
A Health IT Accelerator is an intensive 16 week program that admits top-recruited companies and entrepreneurs, provides a curriculum and network ofexperienced mentors in business, marketing and product development in theHealth IT arena to “accelerate” top companies.
Retain promising high growth HIT entrepreneurs in MD
Partners:
BioHealth Innovation, Inc. Johns Hopkins University DreamIt Ventures Economic Alliance of Greater Baltimore Northrop Grumman Kaiser Permanente DBED
Participant Overview
Phobious is the f ir st psychological t r eatment method to combine hyper -realist ic RV, RA, and holophonic sound to create a cont rolled environment tohelp t r eat psychological problems f rom the comfor t of one’s home.
AugmentedReality
Treatment
LocationBarcelona, Spain
Websitewww.phobios.com
Xavier Hernandez-Oromi Daniel Roig-Canelles Xavier Palomer-Ripoll Antonio Amau- Blasco
The Smar tphone Physical is focused on integrat ing smar tphones and tabletsunder one plat form. Creat ing a unif ied system to for mHealth devices willr emove one of the main bar r ier s that is cur rent ly stopping them f rom beingclinically adopted.
DigitalWorkflow
Management
LocationBaltimore, Maryland
Websitewww.smartphonephysical.com
Shiv Gaglani Mike Baptista
Aegle is a biometr ics company that is building consumer wearable devices. Itis cur rent ly developing a f itness product to provide real-t ime data tomeasure an athlete's endurance levels.
WearableBiometricDevices
LocationBaltimore, Maryland
Krzysztof Sitko George Chen Justin Rubin
Protenus aims to develop smar ter , integrated healtcare administ rat iveworkf lows that prevent wasted clinical t ime, improve pat ient sat isfact ion, andpainlessly improve regulatory compliance.
SmartAdministrative
Workflows
LocationBaltimore, Maryland
Robert Lord Nick Culbertson
Cognuse is developing solut ions for the mental healthcare indust r y. Our coreproduct plat form CognuseManager is an evidence-based pat ient -centr ic toolfor cognit ive rehabilitat ion in the execut ive funct ions domain.
MobileCognitive
Rehabilitation
LocationTalinn, Estonia
Websitewww.cognuse.com
Andres Mellik Daniil Harik
Respi is creat ing a handy spirometer that connects to the user 's smar tphoneand enables measur ing and shar ing of pulmonary funct ion measurementsanywhere. Intended for var iety of users, this is a low cost , feature r ich,innovat ive solut ion.
SmartphonePulmonaryMonitor
LocationAthens, Greece
Antonios Kouris Ioanna Kastanioti
Avhana hopes to create a marketplace to facilitate the exchange of clinicaldecision guidelines so physicians have access to thousands of theseguidelines with one click.
ClinicalDecisionSupport
LocationBaltimore, Maryland
Noah Weiner Nate Weiner
Emocha is designed to leverage mobile phones to assist health programs,researchers, providers, and pat ients improve communicat ion, educat ion,pat ient care, and data collect ion.
MobileInformationPlatform
LocationBaltimore, Maryland
Sebastian Seiguer Yao Huang Sharon Kong Morad Elmi Jeff Daley
Pat ient Feed is a real-t ime collaborat ive tool for hospitals that allows for anaccessible overview of pat ient informat ion and team tasks integrated overdesktop and mobile devices with push not if icat ions, act ivity feeds, andcommunicat ion channel.
InpatientCare
Collaboration
LocationPittsburgh, PA
Arif Rashid Nadeem Kolia Khalid Harun
Provides activity trackers andactivity tracking software topromote wellness and a healthylifestyle.
US Company: Fitbit
Fitbit TrackersThe Tracker measuressteps taken and calculatesdistance walked, caloriesburned, floors climbed,and activity duration andintensity.
DiabetesManager®A system for health careproviders to coordinatediabetes care, propelself-management andachieve long-termadherence.
MD Company: WellDoc
Focused on developing solutionsto support diabetesmanagement Will hit $50M funding mark with
latest funding round
Molecular Biology Lab ServicesStrand uses second generationsequencing instruments, computeclusters, and human brains tosequence, analyze and interpretgenome data from a variety oforganisms.
MD Company: St rand Life Sciences
Focused on providing an end-to-end service that offers NGSDiagnostics to hospitals
XyCAM™ Retinal ImagerA solution for the earlydiagnosis of DiabeticRetinopathy & otherconditions which is designedfor primary care & telehealthsettings.
MD Company: Vasopt ic Medical, Inc.
An early stage start-up companywith a mission to advancehealthcare through innovation inmedical diagnostics.
Healthcare ITTrends
www.hitconsultant.net/2013/04/10/infographic-healthcare-it-trends-transforming-healthcare/
10 Challenges for Health IT
1. First-generation EHR is failing2. Healthcare industrialization is accelerating3. Healthcare cloud adoption will flourish4. The criticality of analytics will grow5. Personalized clinical decision support6. Provider consolidation7. Revenue cycle management8. Underinvestment in business continuity9. Security and privacy issues10. Compliance is expensive
www.healthcareitnews.com/news/new-do-lists-loom-post-ehr-era
Suppor t ing Informat ion
BHI Commercialization Model
BHI Startup Package
Corporate Legal
Accounting Banking
Intellectual Property
Laboratory Space
Grant Consulting
Challenges toInnovation Economy
Lack of connection of innovationresources
Lack of an entrepreneurial cultureand C-level executives
Lack of early-stage funding forcommercializing technologies
Lack of spin-offs from federal anduniversity R&D
BHIValue Proposition
Connect regional innovationassets
Develop an entrepreneurial talentand support pipeline
Attract funding for technologycommercialization
Evaluate commercially relevantfederal and university technology
Supply
Stage
Source
Demand
POR /Pre-Seed Seed/Start-Up Early Later
Founders, FFFBootstrapping
Crowdfunding
Angels, IBED, SBIR
Accelerator Seed Funds
Venture Funds
M&A, IPO
$0K $2.5M $5.0M
FundingGap
SecondaryFundingGap
“VALLEY OF DEATH”
$500K
Innovation Capital Valley of Death
BHI: The Triple Bottom Line
…and Benefits human health!
Expands tax base; improves economic vitality
Grows high-paying jobs and businesses
BioHealth Regional Innovation Cluster Assets
ACADEMIA• RESEARCH/T2
• LIFELONG LEARNING
• ECONOMIC DEVELOPMENT
INDUSTRY• PROFIT
• PROCESS
• PRODUCT
GOVERNMENT• SUSTAINABILITY
• INFRASTRUCTURE SUPPORT
• ECONOMIC POLICY
FOUNDATIONS
• ECONOMIC GROWTH
• COMMUNITY INVESTMENT
• REGIONAL COLLABORATION
INSEPARABLEMISSIONS
Regional BioHealth Ecosystem Partners
BHI Innovat ion Capital Map
BHI offers international companies the perfectstarting point to create US based subsidiaries byconnecting them with BHI’s extensive network.
BHI International Soft Landing
North America Netherlands Germany China Korea Portugal South America Greece Spain Estonia
BHI Board of Directors
William E. KirwanChancellorUniversity System of MD
J. Thomas SadowskiPresident & CEOEAGB
William G. Robertson President& CEOAdventist Healthcare
David MottGeneral PartnerNew Enterprise Associates
Douglas LiuSenior VP of GOQiagen
Thomas StreetACAOMoCo Government
Reginald SeetoVP, Partnering and StrategyMedlmmune
Rick IveyVice PresidentR&DBD Diagnostics
Michael J. Baader, Esq.Managing DirectorVenable LLP
Ronald J. DanielsPresidentJohns Hopkins University
Scott DagenaisSenior Vice PresidentM&T Bank
Kenneth CarterChairNoble Life Sciences
Richard A. BendisPresident & CEOBioHealth Innovation, Inc.
Daniel J. Abdun-NabiCEO, EmergentBioSolutions
David M. Gillece (Secretary)Regional Managing PrincipalCassidy Turley
Jens EcksteinPresidentSR One (GSK)
Cynthia L. CollinsCEOClarient, GE Healthcare
Entrepreneur Training Programs
DC I-corps is a custom commercialization program for biohealth relatedtechnologies and startup companies. The six-week program guidesteams through a rigorous market assessment and validation processultimately creating a viable business model.
The FastTrac program is a practical, hands-on, entrepreneur-learningprogram designed to help entrepreneurs hone the skills needed tocreate, manage, and grow a successful business.
The INNoVATE program provides applied training for postdoctoralfellows, research scientists, and other professionals who want to startlife science based companies.
The BHI Commercialization Consulting Club is a place where BHI's EIRsand Commercialization Consultants can discuss all aspects of thetechnologies being researched and make new networking connections.
A team leader who combines scientific, financial/VC andentrepreneurial management experience to:
– Perform due diligence
– Develop biohealth project-focused companies
Proactively identifies and commercializes market-relevant intellectual properties from:
- Federal Labs- Universities- Private Sector
Todd Chappell
BHI Entrepreneur-in-Residence Program
114NIH
Technology ReviewsConducted
Future Add 2 EIRs Create 5 spinouts or
tech placements Develop education
programs
63Industry
4EIRs
1EIR MOU
8Current Clients
3Pending Clients
4Potential New
Clients
2013 Status
Richard BendisPresident & CEO(215) 593-3333
Todd ChappellEIR, NIH-OTT(978) 933-1622
Ken MaloneEIR, UM Ventures(601) 466-7050
Ram AiyarEIR, NHLBI
(301) [email protected]
Richard MooreEIR, BD Diagnostics
(301) [email protected]
Ethan BylerDirector, Innovation Programs
(301) [email protected]
Amanda WilsonOperations Manager
(301) [email protected]
Renee EnrightExecutive Administrator
(301) [email protected]
Adam HafezIT Manager
(301) [email protected]
Arielle DoleguiBusiness Research Analyst
(301) [email protected]
Eric NormanEIR Program Consultant
(301) [email protected]
Indrani DasguptaResearch Intern
Peter ParkerResearch Intern
Jamie ForresterHR/Accounting Intern
BHI Key StaffBioHealth Innovation, Inc.
22 Baltimore Road | Rockville, MD 20850
The Wire Hardware store- BHI’s Office Space