July 2, 2013
FOR IMMEDIATE RELEASE
Contact: Ann Fyfe — Fogarty Institute for Innovation
Contact: Jessie Becker — InPress Technologies
(916) 947-0881; firstname.lastname@example.org
Contact: Matt Lazier — Cal Poly
Cal Poly-Born Start-Up InPress Technologies Chosen for Fogarty Institute for Innovation’s Incubator Program
SAN LUIS OBISPO — InPress Technologies, a medical-device startup launched by Cal Poly students and nurtured through the university’s Center for Innovation and Entrepreneurship, has been chosen for a prestigious incubator program through the Fogarty Institute for Innovation.
InPress Technologies is developing a medical device to treat postpartum hemorrhage (PPH) due to uterine atony. The device stimulates the body’s natural response to PPH by contracting the uterus, instead of simply treating the condition’s symptoms. By avoiding the use of pharmaceuticals, hysterectomy, or other invasive surgical procedures, the InPress can dramatically reduce the cost of healthcare during childbirth and save women’s lives.
“Cal Poly provided the environment for our students to seize on their good idea and run with it,” said Jonathan York, Cal Poly professor of entrepreneurship and co-founder of the Center for Innovation and Entrepreneurship (CIE). “Now, with the expertise and resources the Fogarty Institute for Innovation will provide, InPress Technologies is poised to fully realize its concept and begin solving a significant real-world problem.”
The Cal Poly-born company is one of five startups recently chosen by the Mountain View, Calif.-based institute, an educational nonprofit that mentors, trains and inspires the next generation of medical innovators.
The new businesses — most of which, like InPress, focus on women’s health and maternity health issues — will work closely with physicians and business professionals to reduce the time needed to bring innovative new medical therapies to market. The startups will have access to funding resources, business plan development, research and development space, and clinical collaboration that is otherwise difficult to obtain. They also have access to the mentorship of Dr. Thomas J. Fogarty, who has been awarded 150 surgical patents and has founded or cofounded 40 medical firms over the last 50 years.
"InPress is passionate about bringing its innovative ideas to market,” Fogarty said. “In the health care industry today, funding is scarce, the regulatory environment is hard to navigate, and there’s little to no connection between great ideas and the clinical settings they will eventually be used in. Our institute is here to help bridge those gaps for companies like InPress.”
InPress is led by Cal Poly grad Jessie Becker (B.S., Business Administration, 2011), and Nathan Bair, a San Luis Obispo County resident with a background in development of medical devices. The pair joined the company in 2011 as it was incubating in the Cal Poly CIE’s Hothouse Accelerator program. The company originally began as the concept of two Cal Poly biomedical engineering students, Alex Norred and Davis Carlin, who have since left for other job opportunities. For more on InPress, visit the company’s website at www.inpresstechnologies.com.
About The Fogarty Institute for Innovation
Located on the campus of El Camino Hospital in Mountain View, Calif., the Fogarty Institute for Innovation is a nonprofit 501(c)3 organization that serves to energize the process of medical technology innovation. Its educational activities involve teaching the skills and methodology necessary for medical innovators to translate their ideas into new patient therapies. To learn more, visit www.fogartyinstitute.org.
About the Cal Poly Center for Innovation and Entrepreneurship
The center manages and supports a wide variety of programs and activities to stimulate the entrepreneurial Learn by Doing spirit at Cal Poly and assist entrepreneurs in following their dreams. For more information, visit http://cie.calpoly.edu.
About Cal Poly
Founded in 1901 and part of the renowned California State University system since 1960, Cal Poly is a nationally ranked, four-year, comprehensive polytechnic public university located in San Luis Obispo, Calif. Known for its Learn by Doing approach, small class sizes and open access to expert faculty, Cal Poly is a distinctive learning community whose 18,000 academically motivated students enjoy an unrivaled hands-on educational experience that prepares them to lead successful personal and professional lives.
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