News

Mechanisms of Failure Northstar Neuroscience’s recent announcement that its EVEREST trial failed to meet its primary endpoint [see article, p5] was not just a setback for the company. In many ways, it was a hemorrhage for the entire neurotechnology industry. So many observers and investors had been counting on the company’s success in the stroke trial, as evidenced venture capital that the firm raised and its successful IPO in 2006.

2007 in Review As we look back on 2007, we see a number of positive developments that occurred during the year, plus a few challenges that remain for the neurotechnology industry. From a financial standpoint, the industry continued to post strong results and attract new investment. Significant mergers that took place during the year include Cardinal Health’s purchase of Viasys for $1.5 billion, Natus Medical’s purchase of Excel-Tech Ltd.

Remembering the Consumer One of the most useful sessions at the 2007 Neurotech Leaders Forum in Newport Beach last month [see conference report, p7] was a consumer/end-user panel discussion led Network. In the session, French quizzed representatives of the Southern California neurological disabilities community about their attitudes and awareness of neurotechnology devices and therapies. Their answers shed considerable light on some of the challenges facing our industry in the years ahead.

Impacting the Government Dealing with the government has always been one of the greatest challenges facing the neurotechnology industry. Whether waiting to get a new device approved through hoops to get reimbursement and Medicaid Services, neurotech device firms frequently find themselves at the mercy of some government entity at every stage of the commercialization process. Fortunately, there are signs that the situation is improving.

Neurotech Network to Unveil Public Awareness Campaign for Industry Neurotech Network, the Tampa, FL nonprofit organization, announced plans to launch a public awareness campaign to help promote the neurotechnology industry. Jennifer French, executive director of Neurotech Network, announced details of the campaign on October 26 at the Neurotech Leaders Forum in Newport Beach, CA. The goal of the new campaign is to target three major challenges facing the industry: reimbursement, market access, and awareness.

Neurotech Reports Announces Recipients of Gold Electrode Awards Neurotech Reports, the publisher of Neurotech Business Report, announced the winners of the 2007 Gold Electrode Awards. The awards were given out at the 2007 Neurotech Leaders Forum on October 25-26 in Newport Beach, CA. The award for best new product went to Cleveland Medical Devices, Inc. for its Kinesia product, a wearable wireless…

Human Nature vs. Humanitarian Behavior When the FDA initiated the Humanitarian Device Exemption for manufacturers of medical devices intended for a relatively small market of potential users, it was with compassion in mind for individuals suffering from a disease or disorder that is not juicy enough to attract traditional medical firms in our profit-driven economy. And so it should have been no surprise when the Boston Globe reported earlier this month that Cyberkinetics Inc.

New Studies Boost Outlook for Brain Fitness Market , senior technical editor The rapid growth of the aged population and age-associated cognitive decline have led to an explosion of interest and activity in potential therapies to avert adverse changes in cognitive function. The idea is not entirely new. For example the late Lawrence Katz of Duke University and Manning Rubin published an exercise manual for the brain back in 1998, Keeping Your Brain Alive: 83 Neurobic Exercises.

Awakening Interest The dramatic recovery of a 38-year-old traumatic brain injury patient in a minimally conscious state following a pioneering DBS procedure [see article, p1] represents more than just an awakening of one individual. In many respects, the procedure, and the intense media coverage that followed the release of the scientific paper in Nature earlier this month, signifies a jolt of public consciousness for a patient community and a market opportunity that has been somewhat dormant in the past.

Ali Rezai to Keynote 2007 Neurotech Leaders Forum in Newport Beach, CA Ali Rezai, director of the Center for Neurological Restoration at the Cleveland Clinic, will be the keynote speaker at the 2007 Neurotech Leaders Forum, to be held October 25-26 at the Radisson Hotel, Newport Beach, CA. Rezai is one of the leading functional neurosurgeons in the world and was among the first in the country to perform deep brain stimulation surgery.