Venture CEO - PFO Closure Device

The Invention

The invention at the heart of this venture is a novel device designed to close a patent foramen ovale (PFO) following cryptogenic stroke. This innovative device seals the PFO tunnel using radiofrequency (RF) energy, which eliminates the need for an implant. The absence of an implant reduces the risk of thrombus formation, allows for future transseptal procedures, and prevents erosion caused by implants.

The Current Status
The novel PFO closure device has demonstrated promising results in pig trials, achieving effective closure with a follow-up period of three months. The immediate next steps involve refining the catheter design for a smoother transition to First in Human (FIH) trials and redesigning the RF generator to enhance its functionality. Scalability in manufacturing will also be crucial as the project moves forward.

The Position of the CEO
As the CEO, you will lead this groundbreaking venture, steering it through the critical stages of development and into the clinical trial phase. Your role will encompass strategic planning, fundraising, team building, and partnership development, ensuring that the company is well-positioned for success in the highly competitive medical device industry.

The Profile of the CEO
We are seeking a dynamic and visionary leader with a proven track record in the medical device sector. The ideal candidate will have:

• Extensive experience in leading early-stage medical device companies.
• A deep understanding of the regulatory landscape for medical devices, including FDA and CE mark processes.
• Strong connections with key opinion leaders and clinical experts in interventional cardiology, particularly in Europe and the US.
• A background in overseeing successful clinical trials and product launches.
• Exceptional strategic planning and fundraising skills, with experience in both dilutive and non-dilutive financing.

Competencies

• Fundraising: Ability to secure an initial funding of $500k - $1M for the first prototype and tests, followed by additional funds for animal studies. Proven experience in both dilutive and non-dilutive financing.
• Strategic Knowledge: Expertise in building and scaling a venture, from concept to market.
• Ecosystem/Networking/Stakeholder Management: Skilled in managing relationships with stakeholders and navigating the medical device ecosystem.
• Go-to-Market/Business Strategy: Proficiency in developing and executing effective go-to-market strategies.
• Exit Orientation: Experience in planning and executing successful exit strategies.

The opportunity

We offer the unique opportunity to an entrepreneur or executive with entrepreneurial ambition to come on board as a co-founder in a highly promising venture. The participation package includes:

• Equity-based remuneration
• Cash compensation tied to successful funding of the company
• The opportunity to co-fund at a favourable valuation                                                                                                                                                                                                                                        As a NLC venture CEO you will have access to the expertise and network of the entire NLC ecosystem including the use of NLC Venture Services and of course you’ll join the supportive group of CEO’s leading our other (100+) ventures.

As a CEO..
You will be at the forefront of transforming PFO closure treatment, driving the development of a device that offers substantial clinical benefits. Your leadership will be critical in refining the product, securing necessary funding, and navigating the path to FIH trials and beyond. With the support of Terumo in tech transfer and the backing of clinical leaders, you will have the opportunity to lead a venture poised for significant impact in the field of interventional cardiology.

Your commitment and expertise will be instrumental in achieving our mission: to provide a safer, more effective solution for closing PFOs and improving patient outcomes worldwide.

For more information please contact – Wijna Bekker --- (NLC Venture Teaming) via [email protected]

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