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The first blast of wintry air has come to Texas this week of Thanksgiving. Before we get to the turkey, let’s catch up with the latest innovation news. —Houston will be home to a new startup hub. Station Houston is looking to launch in early 2016 and is the brainchild of Emily Keeton, a Houston native who earlier this year sold the New York dining app Flavour to Tasting Table (The app is now called Dine). Plans are that Station Houston will house Houston’s Mercury Fund as well as Surge Ventures in addition to having co-working space for technology startups. —A new initiative called Launch Health Challenge was announced Thursday to help life sciences entrepreneurs interested in using the zero-gravity environment of space in their experiments. Brian Lang, founder of Energizing Health, is leading the challenge along with the DreamIt accelerator. —In search of programming talent, a Washington, D.C.-area cybersecurity firm has shifted its headquarters to Austin, TX. Assured Enterprises is especially keen to tap into the cadre of gaming talent in the Texas state capital, says CEO Stephen Soble. —Fort Worth, TX startup Eosera won the top prize at the North Texas Business Pitch Contest Friday. The competition, which was hosted by the Dallas Entrepreneur Center and Dallas-based Comerica Bank, is focused on women- and minority-owned startups. Eosera, which was selected from a group of 150 contenders, is developing a topical drug to disintegrate earwax. —Umbel, an Austin-based customer data software maker, has raised $20 million in a round led by investor Cielo Private Equity. The money will be used to expand marketing efforts, fund product development, and potential acquisitions. —A University of Texas M.D. Anderson Cancer Center’s scientist has helped to form a Cambridge, MA-based biotech. Raghu Kalluri, chairman of the hospital’s department of cancer biology, has been looking at how exosomes can act as delivery vehicles for a variety of drugs. Codiak BioSciences was formed with an $80 million venture round to better pursue exosomes’ potential. —Austin’s Neone wants to make social networking more private. The startup makes a device called the Neobase , which functions as a personal server, allowing a user to store conversations, photos, documents, and other material securely and inaccessible to other people. Neone has raised $7 million from private investors, including founder Dave Glassco. —San Antonio’s Pryor Medical Devices has won a $15.3 million grant from the U.S. military to further develop its ER-Reboa Catheter , a minimally invasive device designed to stop people from bleeding to death internally. The device is inserted through the femoral artery in order to place a balloon just below the heart to block blood flow. Pryor licensed the technology from the San Antonio Military Medical Center. —Rugved Damle, a Houston entrepreneur and cricket enthusiast, has developed an online community for fans of the sport. Cricket Huddle was founded earlier this year and currently looks like a sort of a Reddit-type site with news clips of cricket articles from media across the globe. Damle and his three co-founders invested about $100,000 to get the site up, and are now working on developing a mobile app to broaden the services offered to users. —Houston’s Fannin Innovation Studio has launched Exotect , a biotech company aimed at reducing mucus production, one of the symptoms of asthma. Angela Shah is the editor of Xconomy Texas. She can be reached at ashah@xconomy.com or (214) 793-5763. Follow @angelashah

Roundup: Station Houston, Launch Health, Pryor Medical, DEC, Fannin

Pryor Medical Devices Receives FDA 510(k) Clearance for Distribution of Its ER-REBOA Catheter
“We are excited about the acquisition of Creagh Medical and the      strategic fit of its balloon catheter design and development, and      manufacturing capabilities, which are critical to our transformation      into a whole-product solutions provider,” said Gary Maharaj, president      and chief executive officer, SurModics. “We are disciplined in our      approach for acquisitions, recognizing that these investments must align      with our strategic vision and accelerate our transformation. Creagh      Medical’s capabilities are a strategic complement to our proven core      technology expertise, and we’re confident this acquisition will      contribute to our becoming a world-class device innovator, developer and      manufacturer.”
Creagh Medical is in Ballinasloe, Ireland, ideally located between the      Galway and Athlone medical device hubs. The company was established in      2006 with significant investment by USCI Japan to establish a      state-of-the-art facility equipped for medical device research,      development and manufacturing from resin to finished catheters. Following a successful management buyout in 2009, and with support from      Enterprise Ireland, Creagh Medical refocused the business on developing      market leading PTA product platforms, many of which have been cleared      for commercial sale by regulatory authorities in Europe, the United      States and Japan. Given SurModics’ leadership in coating technologies      and current drug-coated balloon program, the combined organization will      have the capability to support customers from concept to      commercialization, including turn-key manufacturing of innovative      whole-product solutions. Tom Greaney, current CEO of Creagh Medical, is      joining the SurModics executive leadership team, reporting to Maharaj,      and will continue to lead the company’s Ireland-based operations. “We are delighted to be able to combine our world-class balloon catheter      development and manufacturing expertise with SurModics, which leads the      world in surface modification technologies,” said Greaney. “Our      capabilities are a great strategic fit for the company, strengthening      its position as a valued partner to industry-leading medical device      manufacturers.”
SurModics acquired Creagh Medical for €30 million (approx. US$32      million), including an upfront payment of €18 million, and up to €12      million based on achievement of revenue and value-creating operational      milestones. Other terms of the agreement were not disclosed. The Creagh      Medical business is expected to generate $3.5 million to $4 million of      revenue for SurModics in fiscal year 2016. The acquisition will be      dilutive on a GAAP and adjusted earnings per share basis in SurModics’      fiscal year 2016 and accretive on an adjusted earnings per share basis      in fiscal year 2017. SurModics plans to provide updated guidance for full fiscal year 2016 by      the end of the first quarter. This will allow time to revise the      company’s fiscal year 2016 operating plan to include Creagh Medical. When SurModics announces guidance it will report both GAAP and adjusted      earnings per share to reflect the amortization, contingent consideration      accretion, due diligence, transaction and other integration costs. About Creagh Medical Ltd.
Creagh Medical Ltd. is dedicated to providing innovative, efficient and      cost-effective design and manufacture of high-quality PTA balloon      catheters to meet the needs of medical device customers. Established in      2006 in the west of Ireland, the heart of the Irish medical device      industry, the company attracts some of the world’s most skilled and      talented resources, with extensive medical device experience ranging      from polymer science, mechanical design, and product design engineering. Creagh Medical’s facility is purpose-built and equipped to the highest      standard with all catheter technologies on site. Since 2006, the company      has continued to grow its technical and product capability with PTA      products approved throughout the world, including Europe, the United      States, and Japan. With these resources, the company is uniquely      positioned to offer a total solutions approach from product design and      development, through in-house extrusion, balloon forming, top-assembly,      packaging and regulatory capabilities to approved products for exclusive      distribution. About SurModics, Inc.
SurModics partners with the world's leading and emerging medical device,      diagnostic and life sciences companies to develop and commercialize      innovative products designed to improve lives by enabling the detection      and treatment of disease. SurModics’ mission is to be a trusted partner      to our customers by providing the most advanced surface modification      technologies and in vitro diagnostic chemical components that help      enhance the well-being of patients. The company’s core offerings include      surface modification coating technologies that impart lubricity,      prohealing and biocompatibility characteristics and components for in      vitro diagnostic test kits and microarrays. SurModics’ strategy is to      build on the product and technical leadership within these fields, and      expand the core offerings to generate opportunities for longer term      sustained growth. SurModics is headquartered in Eden Prairie, Minnesota. For more information about the company, visit www.surmodics.com . The content of SurModics’ website is not part of this press release or      part of any filings that the company makes with the SEC. Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Statements that      are not historical or current facts, including statements about the      beliefs and expectations regarding the impact of the acquisition on the      Company’s financial performance, and the expected benefits of the      acquisition, are forward-looking statements. Forward-looking statements      involve inherent risks and uncertainties, and important factors could      cause actual results to differ materially from those anticipated,      including (1) our ability to successfully integrate Creagh Medical,      including its employees, products and technology content, into our      business, (2) our ability to successfully develop, obtain regulatory      approval for, and commercialize our proprietary products, including the      products acquired from Creagh Medical, (3) possible adverse market      conditions and possible adverse impacts on our business operations and      financial results, and (4) other factors identified under “Risk Factors”      in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year      ended September 30, 2014, and updated in our subsequent reports filed      with the SEC. These reports are available in the Investors section of      our website at www.surmodics.com and at the SEC website at www.sec.gov . Forward-looking statements speak only as of the date they are made, and      we undertake no obligation to update them in light of new information or      future events. View source version on businesswire.com: http://www.businesswire.com/news/home/20151120005322/en/
SurModics, Inc.

SurModics Acquires Creagh Medical a Developer and Manufacturer of Balloon Catheters

Texas
Nobody should bleed to death. That sums up the mission of San Antonio, TX-based Pryor Medical Devices, which has licensed technology from the San Antonio Military Medical Center that could prevent internal bleeding from causing death. “For the Army, the number one problem is truncal hemorrhage,” says Pryor co-founder and CEO David Spencer, referring to bleeding injuries of the human torso. “Now the military is saying, we are going to make that problem go away.”
Non-compressible hemorrhage from truncal injury is the leading cause of potentially survivable deaths of American troops, according to the National Trauma Institute in San Antonio. “The current method for saving these people is to do a radical thoracotomy, crack open the chest, cross clamp the aorta, and block the blood flow just below the heart,” Spencer says. “But this is very invasive.”
Pryor has developed what it calls the ER-Reboa Catheter, a minimally invasive device inserted through the femoral artery to place a balloon just below the heart in order to block blood flow. The idea is that for those with severe internal bleeding from wounds on a faraway battlefield hospital or following a car crash closer to home, the device can prevent blood flow to the outer extremities while keeping intact the supply to vital organs. This week, Pryor announced a $15.3 million contract from the U.S. Army and Navy to work on a device that doesn’t require fluoroscopy in order to confirm that the balloon is in place. “The military wants to make sure you can use this device safely in an environment like a battlefield where you don’t have X-ray,” Spencer says. The company has raised a total of $24.5 million, which includes $17 million in government grants and other funding sources. Investors include BriarPatch Partners, part of the Hunt Family of Companies. Pryor Medical has received 501k clearance from the U.S. Food and Drug Administration and plans to start selling the device to Level 1 trauma centers in the United States in January. The company’s device is actually an upgrade on an old technology. Reboa, or Resuscitative Endovascular Balloon Occlusion of the Aorta, was first used during the Korean War. But there haven’t been many improvements since then, Spencer says. Pryor Medical set about updating the technology specifically for critical care environments, meaning a smaller balloon and catheter and a catheter tip that is softer to reduce the risk of damaging blood vessels during the hurried insertion of the device during an emergency. “We also have pressure monitoring in the device,” Spencer says. “You want to see when the balloon goes up that the blood pressure above the balloon goes up, too. That tells you it’s working.”

Pryor Medical’s Reboa Device Aims to Prevent Internal Bleeding Deaths

October 26, 2015
By Fink Densford Leave a Comment
Minimally-invasive vascular trauma focused Pryor Medical Devices said today it won FDA 510(k) clearance for its ER-Reboa balloon catheter designed to occlude the aorta. The ER-Reboa is San Antonio, Texas-based Pryor’s flagship product, designed to occlude large vessels using a balloon for treating traumatic injuries, specifically by the critical care and emergency medicine community. “We are proud to be the first to market with a balloon occlusion catheter designed specifically for this community. They asked for the unique combination of features found on the ER-Reboa catheter, and we look forward to getting it to them,” CEO David Spencer said in a press release. The ER-Reboa is 7 Fr in size, which the company said “precludes the need for additional repair at the access site.” The device comes equipped with a soft, atraumatic arterial pressure monitoring tip and doesn’t require multiple wire exchanges, Pryor Medical said. Pryor Medical said it scheduled the 1st delivery of the device for January 1, 2016. The company said it is developing multiple next-generation Reboa catheters and other minimally invasive solutions for the vascular market. New Safe Chain Track & Trace T3 management system provides ultimate traceability
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Pryor Medical wins FDA 510(k) for aortic balloon catheter

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Pryor Medical Devices (The REBOA Company) is a medical device company that designs, develops and commercializes minimally invasive solutions for vascular trauma. The company's flagship product is the ER-REBOATM Catheter, a 7 Fr compatible balloon catheter for temporary occlusion of large vessels. The ER-REBOATM Catheter has not yet been cleared for human use, although it has been submitted to the FDA for regulatory approval.

Pryor Medical Devices

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Date	9/24/2015
Round	Series B
Amount	$5M
Investors	Undisclosed Investors
Valuation	$XXM
Revenue	0 FY undefined
Sources	1

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