Quantum Medical Concepts invests $150,000 in Ann Arbor-based Brio Device
We love when local startups get local funding! Congrats to both parties.
This press release courtesy of Kevin McFatridge of the Michigan State Medical Society
EAST LANSING, MI – A new suite of products that will improve intubation success rates are one step closer to market, thanks to a partnership between a medical device company and a Michigan-based medical sector investment firm. The medical device start-up, Brio Device, LLC (Brio), began with the help of the University of Michigan and $150,000 in pre-seed stage funding from Quantum Medical Concepts.
Brio’s suite of products are intended to improve intubation success rates for routine, complex and emergent intubations, offering clinicians products that enhance their skills and improve results. The critical element for Brio’s first generation product, accelerated to market by Quantum’s investment, is to assist users in locating the trachea and maneuvering the endotracheal tube. Brio’s stylet has an articulating tip with thumb‐controlled steering to angle and navigate the endotracheal tube through upper airway anatomy during intubation. Brio’s product suite provides features that enhance visualization, recognize anatomy and confirm successful intubation through articulation, optics and software. Brio’s target market is routine, complex and emergent intubations.
According to Brio CEO Hannah Hensel, MBA, “there are more than 20 million intubations performed in the US each year. In emergency situations requiring unplanned intubations, the failure rate is documented as 20‐40% resulting in two million intubation failures every year. Failed intubation is the most common preventable cause of trauma‐related deaths.”
Quantum Medical Concepts (QMC) is a partnership of the Michigan State Medical Society and Common Wealth Enterprises. Through this partnership, QMC provides early-stage investment funding to Michigan companies in the medical sector. In addition to investing between $50,000 and $150,000 in startup funding in new companies, QMC provides access to more than 15,000 medical professionals, which helps to quickly identify and support medical products and companies that have a high likelihood of success.
“We believe physicians are key to the success of health care delivery, and can play an equally important role in medical innovations,” said Benjamin Louagie, Managing Director of Quantum. “The medical establishment is becoming more open to entrepreneurship. Oftentimes, physicians are the ones coming up with the best new ideas for medical devices or therapeutics. Quantum is always looking for ways to support Michigan physicians and help them better care for their patients.”
In 2010, a multidisciplinary team consisting of a surgeon, a biomedical engineer, a polymer engineer and business executive came together as Fellows at the University of Michigan Medical Innovation Center to identify unmet clinical needs, assess the scope of the problem, introduce solutions and understand the means to advance medical devices from concept to commercialization. The spark of Brio began amid their clinical observation period of the Fellowship. The team gathered data that reflected the need for products that would allow for increased success rates and improved patient outcomes during intubation. Brio Device, LLC formed in February, 2011.
Brio Device, LLC is a medical device company based in Ann Arbor, MI, a spin-out of the University of Michigan Medical Innovation Center (MIC). Each of the company’s four founders participated in the MIC post-graduate Fellowship program prior to forming Brio Device, LLC. The company is creating a series of airway management devices to improve patient outcomes and elevate the success rates for clinicians who conduct the life-saving procedure of intubation. For more information, please visit http://briodevice.com.
Quantum Medical Concepts is a partnership of the Michigan State Medical Society and Common Wealth Enterprises. Through this partnership Quantum provides early-stage investment funding to Michigan companies in the medical sector. In addition to investing in startup funding, Quantum provides access to more than 15,000 medical professionals and active management support for our portfolio companies. For more information, please visit http://quantummedicalconcepts.com.