Utah-based PhotoPharmics Selected as Global Top 50 Startup
MedTech Innovations designates PhotoPharmics as one of the industry’s best and brightest startups working to transform patient care through innovation
June 24, 2021. Salt Lake City—PhotoPharmics today announced it has been selected by MedTech Innovator as a top 50 medtech startup and will be showcased in MedTech’s 2021 cohort featuring the industry’s most transformative device, diagnostic, and digital health technologies.
“We’re delighted with this designation and honor,” said Kent Savage, CEO of PhotoPharmics. “International attention from leading organizations like MedTech brings us closer to delivering on our mission of innovation, particularly providing a breakthrough, non-invasive treatment for people suffering from the symptoms of Parkinson’s disease.”
“We’re seeing a real breakthrough here,” said Savage. “Once approved, this may be the first therapy to address non-motor problems in Parkinson’s, one that we feel promises a nearly 5-year reversal of symptom progression—based on the results of our last clinical trial.”
PhotoPharmics will participate in MedTech’s flagship four-month Showcase and will receive unparalleled visibility and access to leading manufacturers, providers, investors, and other industry stakeholders. The program culminates at The MedTech Conference, powered by AdvaMed, on September 27-30, where all 50 companies will present in Showcase panels and gain access to exclusive partnering and roundtables.
The selection process for this year’s program was extremely competitive, with only a 4% acceptance rate. Together with the senior leadership teams of its corporate partners and over 200 industry judges, MedTech Innovator evaluated 1,100 candidates from 54 countries and 42 U.S. states.
“Our goal at MedTech Innovator is to find the most promising medical innovations and make sure they actually reach the patients who need them,” said Paul Grand, CEO of MedTech Innovator. “We are thrilled with the caliber of the startups participating in this year’s cohort and we look forward to providing them with the resources and mentorship they need to succeed.”
In the company’s short history, PhotoPharmics boasts a series of major accomplishments, including:
- Completing a phase 2 trial in Parkinson’s, which is the first to show significant improvements in non-motor symptoms, quality of life, and sleep—all on top of best medical care (non-motor symptoms are the most urgent unmet need in Parkinson’s disease)
- Receiving FDA Breakthrough Device designation in early 2020 for the company’s non-invasive phototherapy device in Parkinson’s disease
- Preparing a phase 3 pivotal trial and announcing the largest phototherapy trial for improving overall function in Parkinson’s disease
“We look forward to the additional resources being offered as part of this distinction,” said Savage. “Partnering with MedTech and AdvaMed at this level promises great results for our company.”
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. 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.
MedTech Innovator’s founding sponsors are Johnson & Johnson and RCT Ventures. Annual program sponsors include NIPRO Medical Corp., Olympus Medical Systems Group, Asahi Intecc, Baxter, Becton Dickinson & Company, Edwards Lifesciences LLC, Dexcom, Fujikura Ltd., Jabil Healthcare, Maxim Integrated Ventures, W. L. Gore & Associates, Inc., Experien Group, Greenlight Guru, Integrated Computer Solutions (ICS), Medmarc, Medical Technology Enterprise Consortium (MTEC), Oliver Healthcare Packaging, Proxima Clinical Research, Silicon Valley Bank, Three Bridges Management & Consulting, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati.
For more information about MedTech Innovator, visit https://medtechinnovator.org/.
PhotoPharmics is a privately held, clinical-stage medical device company developing next-generation treatments for treating neurodegenerative disorders through the eyes. Company founders have 30+ years of research and experience in this field. They previously developed specialized light solutions now widely used to regulate circadian rhythms for seasonal affective disorder, sleep disorders, anxiety, and depression (acquired by Philips-Respironics in 2007).
Drawing from research and recent trials, PhotoPharmics is developing applications of specialized light across several neurodegenerative diseases. The company aims to make a clinically meaningful difference in patients’ lives by delivering safe and effective treatments. Learn more at www.photopharmics.com.