IST: The Big Bang Theory of Device Innovation
Executive Summary
Assembling a Dream Team of surgeons, including those of The Texas Back Institute, as well as leading medical device companies, IST sought to create an incubator in spine unparalleled in its ability to bring new technology to market. The only thing is, the model didn't work. Now, IST has shifted gears and is pursuing a mega-roll up strategy.
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IST Finds a New Model and Some Investors
The Texas Back Institute's incubator, Innovative Spinal Technologies Inc. (IST), has scrapped its first technology transfer model. Last year it , began working with large VCs to re-draw its model and recapitalize the company.
IST Finds a New Model and Some Investors
The Texas Back Institute's incubator, Innovative Spinal Technologies Inc. (IST), has scrapped its first technology transfer model. Last year it , began working with large VCs to re-draw its model and recapitalize the company.
Orthopedic Seed Funding in the City
In May 2005, a leading orthopedics hospital, two health-care focused venture capital firms, a real estate investment trust, and a local economic development group came together to form New York Orthopedic Technologies LLC, in order to fill a gap in seed stage investing in orthopedics. The consortium hopes to address several challenges unique to early stage value creation in medical technology: how to bring particular sets of resources to the entrepreneur or physician with a concept-clinical, financial, operational, and logistical; how to get the technology to the next milestone without creating a model that itself requires care and feeding; and how to create a structure that serves the divergent goals of all the participants.