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AdvaMed Accel Announces Thermatome as Business Plan Competition Winner
SAN DIEGO – AdvaMed Accel announced Monday that PROPEL Company Thermatome Corporation has been awarded the Virginia Shimer Rybski Memorial Award, which recognizes the potential of a promising entrepreneur or entrepreneurial company.
Founded in 2013, Thermatome’s patented balloon-catheter technology utilizes heat to ablate tissue surrounding a surgical cavity, destroying residual cancer cells. The award was announced at AdvaMed 2015, the leading MedTech Conference in North America. Competing companies presented to AdvaMed attendees and a panel of judges who selected Thermatome during the conference's Entrepreneurship Boot Camp.
“We are very honored to receive the AdvaMed 2015 Virginia Shimer Rybski Memorial Award and are grateful to AdvaMed for this recognition. Thermatome is working to provide breast cancer patients with alternatives for treatment following lumpectomy surgery, and we are thrilled that this award will increase awareness of Thermatome and allow us to continue to advance the development of our products,” said Thermatome CEO Tom Ryan. “We also want to thank PROPEL for their support of Thermatome, including our grant from PROPEL to attend AdvaMed 2015.”
“Thermatome's business proposition presents the kind of medical technology that has great potential for success in today's competitive industry environment," said Ashley Wittorf, executive director, AdvaMed Accel.
“EnterpriseWorks Chicago of the University of Illinois is delighted that Thermatome, as our very first resident at HTI in December of 2013, has come so far to be on such a prestigious national stage. The team has remained committed in translating a medical device, invented by a renowned Rush University Medical Center clinician,” said Kapila Viges, EnterpriseWorks Chicago Director. “Thermatome has strategically engaged commercialization support from a robust Chicagoland ecosystem; setting it on a solid path towards commercialization. We offer our congratulations and continued support to the Thermatome team!”
The Virginia Shimer Rybski Memorial Award was created to encourage the enthusiastic pursuit of business excellence in the medical technology industry in memory of the late entrepreneur and patient care advocate Virginia Rybski, president and CEO of Regenesis Biomedical and a member of AdvaMed’s Board of Directors and the Executive Committee of the Association’s former Emerging Growth Company Council (now AdvaMed Accel), who passed away in 2013.
The award is presented each year to a single presenting company or entrepreneur. This year’s award includes:
• A $10,000 grant to be applied towards expenses required for commercializing an innovative medical technology;
• Complimentary AdvaMed membership for two years; and
• A complimentary full-access pass to AdvaMed 2016 in Minneapolis, Minnesota, October 17 – 19, 2016.
Nadim Yared, President and CEO, CVRx, Board Chairman, AdvaMed Accel congratulates winner Tom Ryan, CEO, Thermatome. Credit: AdvaMed 2015: The MedTech Conference
The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, awarded a total of 9 grants, including to Thermatome, to help Illinois entrepreneurs attend AdvaMed 2015: The MedTech Conference in San Diego.
About AdvaMed Accel
AdvaMed Accel is the division within AdvaMed dedicated to addressing the unique needs and challenges of smaller medical device and diagnostics manufacturers – the lifeblood of the medical technology industry. The only organization of its kind focusing specifically on the needs of the medtech industry’s emerging growth companies, AdvaMed Accel works to create a policy environment more conducive to capital formation and innovation. For more information, visit www.advamedaccel.org.
PROPEL is a group of programs aimed at increasing the number and success rate of early-stage life sciences companies in Illinois. PROPEL helps guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise to prepare them for early-stage funding. PROPEL is a Center of the iBIO Institute. To learn more about PROPEL and its programs, visit www.ibiopropel.org.
About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute’s EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America’s leadership in technology education. The Institute’s PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.