Fort Collins, CO, March 14, 2018 (GLOBE NEWSWIRE) — On March 13, 2018, medical device company Green Sun Medical won first place at the South by Southwest (SXSW) Impact Pediatric Health Pitch Competition in Austin, Texas.
Green Sun Medical is developing a dynamic scoliosis brace that applies continuous corrective pressure to the spine and allows physicians to monitor remotely the performance of the brace. Current treatments for scoliosis include spinal fusion surgeries, and braces developed over 40 years ago. The company has raised over $2.5 million in equity and awards.
The competition was part of the annual conference to foster innovation that will advance pediatric healthcare and address the unmet surgical and medical device needs for children. The Impact Pediatric Health competition judges were from eight leading children’s hospitals including Boston, LA, Seattle, Atlanta, Cincinnati, Stanford, Philadelphia and Texas.
During the competition, ten finalists had three minutes to present their proposal to the judging panel, followed by a seven-minute question and answer session. This competition was created to foster innovation in the pediatric device sector. The pediatric device sector continues to lag behind adult device development and creates a host of challenges for doctors when treating children.
“We are honored to have our dynamic scoliosis brace recognized by executives from these leading children’s hospitals,” said Jamie Haggard, CEO of Green Sun Medical. “These hospitals have opened up expansion potential after we complete a pilot study with the dynamic scoliosis brace.” The study will begin this spring at the National Scoliosis Center.
The award has culminated an impressive 18 month run of winning awards including the 2017 pediatric device competition sponsored by the National Capital Consortium for Pediatric Device Innovation (NCC-PDI), an FDA-funded consortium led by Children’s National Health System. In October of 2016, 3000 medtech executives selected Green Sun Medical as the grand champion for best innovation at the Medtech Innovator Competition. The company was also awarded a two-year grant to establish a residence at the Johnson & Johnson JLABS in South San Francisco.
Green Sun Medical is a graduate client company of Innosphere, Colorado’s leading technology incubator accelerating the success of high-impact science, engineering and technology startup and scaleup companies.
Green Sun Medical also completed its $2M Series-A round for development of its dynamic scoliosis brace with a $500k investment from the AngelMD Catalyst Fund.