Pennsylvania State University
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Liquid biopsies look set to revolutionize the management of cancer patients. A significant application could come in immuno-oncology, given the rapid uptake of IO drugs and the need to monitor changes in a patient’s immune profile over time to guide therapy selection.
Talent, innovation, world-class research institutions, established supply chains, and a lower cost of doing business – what else do you need to launch and grow a device company? Well, capital, for one. Players in the Midwest are working in a variety of ways to draw entrepreneurs and venture money to the region, and their efforts are reaping positive results.
REVA Medical started almost 14 years ago as a bare metal stent company, only to run into the drug-eluting stent (DES) revolution. In response to the DES boom, the company reinvented itself as a bioresorbable stent company and then added a drug-eluting capability. However, until the late-stent thrombosis risk of DES emerged in 2006, bioresorbable stents were largely irrelevant. REVA has survived the ups and downs of the device financing environment by adopting creative solutions, including an evolving relationship with a strategic partner and ultimately an Australian IPO. The company is just now reentering the clinic with its pivotal trial, which is both a testament to its perseverance and a sign of the many challenges still ahead, not the least of which being whether REVA’s innovation will ultimately be rewarded.
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