1. Bioabsorbable Surgical Clip & Applicator Commercialization
Neil Roundy, MD
Neurosurgeon
Rachel Dreilinger
Biomedical Engineer
Eric Hanson, MD, MPH
DoD Biomedical Consultant
Justin Cetas, MD, PhD
OHSU Neurosurgeon
NeuraMedica is an Oregon-based LLC and OHSU spinout company.

2. TEAM
Neil Roundy, MD (Co-Founder and Chief Medical Officer) is a neurosurgeon with Oregon Neurosurgery Specialists, a private practice group in Eugene, OR. His work interests include skullbase surgery, minimally-invasive intracranial & spinal surgery and neuroendoscopy.
Rachel Dreilinger (Co-Founder & CEO) is a biomedical engineering consultant specializing in the design of medical devices with experience in orthopedics, neurosurgery, dentistry, resorbable polymers, mechanical design and all phases of product development.
Eric Hanson, MD, MPH (DoD Biomedical Consultant) is a former US Air Force Senior Flight Surgeon and Division Chief of Science & Technology. He has received $68M in funding as a lead PI in DoD research programs and set up over $1.5M in cooperative R&D agreement (CRADA) value in the last two years for NW biomedical companies.

3. THE BIG IDEA Watertight closure No imaging artifact
Bioabsorbable Clip for Durotomy Closure
Watertight closure
No imaging artifact
Multiple clips applied quickly
Low-profile applicator
Reduced OR time

4. CLINICAL NEED - The Problem
High incidence of durotomy closure (~170k cases/year in the U.S. in 2010)
Limited surgical site exposure
Long, narrow working channels
Prevalence of Minimally Invasive Surgical (MIS) techniques
Current suture technique can take up to 60 minutes or more
Operative time is very expensive ($29-$133/minute)
30 min case x $80/min = $2400!

5. VALUE PROPOSITION & UNIQUENESS
Vast improvement over current methods of watertight closure (running suture)
NO OTHER bioabsorbable clips available for closing the dura
Other surgical closure devices:
Metallic/Penetrating (U-Clip by Medtronic)
Metallic/Crimping/Non-Penetrating (AnastoClip by Le Maitre Vascular, Duraclose by Stryker)
Bioabsorbable/Penetrating (Vicryl Suture by Ethicon)

6. Designs and Prototypes

7. MARKET ANALYSIS (Spine Surgery ONLY)
Durotomy closure cases: $80/min x 30 min = $2400
2010: 1.7M spinal surgeries in U.S.
~10% require durotomy closure = 170k cases/year
$170k x $2400/procedure = $408M

8. INDICATION EXPANSION
Colectomy (Ulcerative Colitis): average 19,970/year ( ) x $2400/case = $48M
Ostomy Procedures: 120k/year x $2400 = $288M
Cranial Neurosurgery: 250,000 craniotomies performed yearly in the U.S. 250k x $2400/case = $600M
Tubal Ligation: 700k procedures/year x $1,000/device = $700M
$2B POTENTIAL MARKET

9. OHSU/OCTRI FUNDING ($67k)
Prototype Clip & Applicator Designs
Cadaver Testing
Dural Clip tooling
Regulatory Roadmap
Patent Applications
Finalize Clip & Applicator Designs
Bench/Cadaver Testing
Small Animal Testing
Large Animal Feasibility Study
FDA Pre-Submission Contact
FDA Documentation & Data
ONAMI GAP FUNDING ($250k)
Follow-on Large Animal Study
Sales & Marketing Plan
Patent Prosecution
FDA 510(k) Submission
Engineering Production Tooling
Engineering Documentation
PRODUCT LAUNCH
DoD/SBIR/Angel FUNDING ($750k)

10. WE ARE SEEKING: NOW: $750k Early-stage seed capital
AT PRODUCT LAUNCH: $4M
(Angel & other investment opportunities)
(Venture Capital or other funding)