LIGHTNING RELEASES –Ann Arbor, Mich. – June 10, 2014 – Integrated Sensing Systems, Inc. (ISSYS) today announced that it has been selected to present at the 2014 Michigan Growth Capital Symposium on Wednesday, June 18 at 10:20-10:35am in the Medical Device /IT track.
The Michigan Growth Capital Symposium is the oldest university-based venture capital fair and the premier Midwest networking event for leaders in venture capital investment. The event serves as a conduit for introducing early stage and emerging growth companies seeking funding, to U.S. investors prospecting deals worth over $1.3 billion in capital.
ISSYS has advanced the state-of-the-art and developed a wireless Implantable Hemodynamic Monitor (IHM) implant that distinguishes itself by being able to monitor remotely the left side of the heart, as well as anywhere in the cardiovascular system including the pulmonary artery. ISSYS’ implants provide cardiac wave pressure measurements within the heart and left heart filling pressure which is the most significant cardiac parameter for the management of congestive heart failure (CHF). Monitoring the left heart is very challenging due to the stringent biocompatibility and hemodynamic requirements of the left heart. ISSYS’ implants measure the filling pressure on demand via a small wireless handheld reader at home. The home monitoring feature not only allows continuous long-term patient management of chronic diseases such as CHF, but offers on demand, real-time, wireless reading feature that allows the detection of both real and false emergencies. ISSYS’ broad enabling technology offers two groups of miniature wireless IHM. The first group of ISSYS’ IHM is implanted in either the left atrium or left ventricle as an adjunct device during planned surgery. This group is already been evaluated during clinical studies in Europe. The second group is delivered percutaneously in an outpatient procedure via a catheter for monitoring either left atrium or pulmonary artery pressure. Dr. Nahed Mohsen will be presenting ISSYS WIHM implants commercialization development plan and will be seeking $20M investment.
Dr. Nahed Mohsen, ISSYS VP Regulatory Affairs and Quality Assurance, stated that “ISSYS’ IHM implants will advance the state-of-the-art and revolutionize patient convenience and long term management of congestive heart disease. It offers home monitoring and on demand wireless data capture, that allows patients to wirelessly and securely transmit their detailed cardio waveforms to a medical database, where physicians and healthcare providers can read the data and adjust medications from anywhere in the world. In order for these patients to reap the benefits from the IHM implants rapidly, we need to expedite and finalize the development process by raising additional funds. The importance of ISSYS advanced wireless IHM became much more apparent when recently CardioMEMS celebrated FDA approval for the world’s first implantable wireless pulmonary artery pressure sensing device for heart failure patients. CardioMEMS was immediately acquired for $40M by St. Jude Medical, whose share price jumped by more than 3% following the acquisition. Such approval can reassure and inspire investment in this space.“
About Integrated Sensing Systems, Inc. (ISSYS)
ISSYS is a leader in advanced MEMS technologies for design and manufacturing of industrial, medical, microfluidic and scientific analytical sensing applications. Founded in 1995, ISSYS is one of the oldest independent MEMS companies in the US. ISSYS operates a comprehensive, state-of-the-art MEMS fabrication facility located near Ann Arbor, Michigan. ISSYS is currently certified for ISO 9001:2008, EN13980:2002 for its ATEX (intrinsically safe products), and ISO13485:2003 standard for Class III medical devices. ISSYS is a vertically integrated company dedicated to developing and manufacturing system-level products based on MEMS technology (MEMS Inside), please visit: http://www.mems-issys.com/
About the Michigan Growth Capital Symposium (MGCS)
MGCS is presented by the Ross School of Business at the University of Michigan with support from the Michigan Venture Capital Association and the Michigan Economic Development Corporation. The Symposium offers the opportunity to build relationships with an unparalleled business network of distinguished private equity industry leaders, leading university research faculty, and entrepreneurial business professionals.