Pittsburgh Tech Companies to Watch in 2013: The Life Sciences Edition
This story originally appeared in sister publication Pop City.
These are heady times for the life sciences industry in Pennsylvania.
With all this excitement bubbling up in labs and research centers across the region, narrowing a list of the most promising life science companies was no easy feat. With a bit of lively debate and the assistance of local business leaders and investors, the following list has emerged.
Many of these companies have proved themselves over the long haul, which is what it takes to survive the bumpy process from development and research to testing, clinical trials and commercialization. They have grown up in Pittsburgh and most are firmly committed to the region.
Several recently received clearances to sell their products overseas in the coming year. All have the potential for major growth.
In an impressive show of local support, this South Side company raised an additional $10 million in 2012 with most of the funding coming from Pittsburgh investors. The company has raised $40 million since it was founded in 1997.
ALung is anticipating European regulatory approval in 2013 for its Hemolung Respiratory Assist System (RAS), which is helping to improve the lives of patients who suffer from acute respiratory failure. The company is making plans to begin a sales and commercialization push in Europe in the coming year.
The big news in December 2012 was FDA clearance that paves the way for BlueBelt to begin marketing its NavioPFS, an orthopedic surgical system for partial knee replacement surgery. The procedure was also successfully performed in United Kingdom; plans call for commercial expansion across the UK and Europe.
The company has a manufacturing center and headquarters in Minneapolis, MN, but remains committed to Pittsburgh where the system was first developed as a Carnegie Mellon spinoff in 2003.
Plasma-based plastics that allow bone to heal and repair itself is what Carmell is all about. The company’s highlight in 2012 was the start of a clinical trial in South Africa for its bone putty, which is successfully helping to accelerate the healing of bone injuries and connective tissue while reducing complications.
A major goal for the coming year is to complete financing that will enable Carmell to commence additional clinical trials in Europe and the U.S. The technology was developed jointly by CMU and Allegheny General Hospital. The firm is focused on the sports medicine market.
This University of Pittsburgh success story is developing absorbable surgical adhesives and sealants.
Highlights in 2012 include raising nearly $10 million (with more than $60 million in fundraising to date), the completion of two of the four requirements required for FDA approval and the completion of the initial stages of R&D for Sylvs Surgical Sealant, a proprietary bowel sealant. The company won several awards last year including a Carnegie Science Award for the invention of TissueGlu which will speed the healing of surgeries like tummy-tucks.
Cohera Medical plans to complete its submission to the FDA for TissuGlu Surgical Adhesive in late 2013, obtain CE Mark approval for Sylys Surgical Sealant development and exceed overall revenue and procedure growth in Germany.
Another University of Pittsburgh success story, this biopharmaceutical company has largely flown under the local radar. The South Side firm is developing a new class of drugs for inflammatory and metabolic diseases. Complexa’s lead program targets Type 2 diabetes and has the potential to expand into the treatment of aspects of dysmetabolic syndrome.
The company is targeting mid-2013 to start clinical trials, and the money raised--$3.6 million to date--will be used for pre-clinical work needed to get to trials. Complexa also plans to submit an investigatory new drug application to the in the second quarter of 2013.
This drug discovery company is taking a novel approach to developing drugs that block the toxic proteins that cause Alzheimer’s Disease. Cognition believes that their small molecule therapeutic approach will one day halt or reverse this terrible disease.
The company raised nearly $2 million in its last funding round for a total of $7.5 million from from new and existing investors. Upon reaching its fundraising goal, the company hopes to move its therapeutic approach to the clinical stage.
This Oakmont company has hit its stride manufacturing and selling a remote monitoring alert system for nursing homes and private residences. By successfully reducing the overall number of times a resident falls, which is one of the most common reasons that the elderly is moved to a higher level, NewCare is helping to improve the health and well-being of the elderly population.
A spinout of Pittsburgh-based medSage Technologies, NewCare was purchased by Phillips Electronics in December of 2010. Highlights in 2012 include the market introduction of the ConnectCare Resident Attendant System and the ConnectCare Home Monitor.
In 2013 NewCare will continue market penetration of the ConnectCare Resident Attendant System and the introduction of the SilentAlert System for mobile-assisted living residents.
This orthopedic technology company has developed a suite of operating room technologies for the medical professional. In 2012 the company entered into
an exclusive global distribution agreement for its Quantum Shoulder Positioning System with Arthrosurface, Inc. in Boston, MA, and began production of its second product offering (the Quantum Surgical Arm Positioner), which grew sales 2500% over the previous year.
In 2013, Quantum OPS will launch its Quantum Arm Positioning System coupled with a newly redesigned version of the Quantum Shoulder Positioning System. Strong sales and significantly greater revenue generation are projected. The firm also hopes to expand its international presence and dramatically increase sales volume outside the U.S.
This South Side company received its FDA authorization to begin marketing its initial prescription product this year, The Stork, a tool to help couples in overcoming several fertility problems in the comfort of their own home. 2013 will mark the launch of the product in Pittsburgh. Rinovum also plans to move into a larger facility this year where manufacturing will also take place.
Thar Pharmaceuticals is reinventing on-the-market drugs by improving their clinical performance and economic benefits. The company’s lead product is an oral form of a bone metastasis (cancer) drug, which was developed and is sold by a major pharmaceutical company.
The highlight for Thar Pharmaceuticals in 2012 was advancing this re-invented drug to clinical trials and receiving composition-of-matter patent protection on the drug that extends to 2030, providing double the typical patent-protected commercial life of most drugs. Thar Pharmaceuticals hopes to have its Phase I human clinical data in the second quarter of 2013 and its Phase II human clinical data in the fourth quarter of 2013.
Upon completion of the clinical trials, Thar’s oral drug should have the established clinical efficacy of the existing, market-leading drug but with fewer side effects and savings.
Read the Top 10 Tech Companies to Watch in 2013 here.
Deb Smit is innovation and job news editor for sister publication Pop City.