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, which for the last four yeares has been developing a wireless fetal has been functioning unded the careof Shennib's the . The compan just landed a new chiefexecutive officer, Dennis who spent the last 25 years developinh clinical applications for women's health. Meister joined Prenatem on July 2. His task will be helpinh Shennib raise financing and take the monito to marketby 2010. Prenatek doesn't have a productf on the market yet and has no other In stealth mode until Prenatek is one of two companies that Shennigb has spun out of the Center for MedicapDevice Innovations, founded in 2004.
The center focuse s on developing intellectual property portfolioss for the companiesit creates, most involvinfg ultra-miniaturized technology to solve health-care problems. It worksx closely with a networkof advisers, includin g Ned Scheetz, founder of LLC, an investment firm focusing on health care, and John a former senior executive with "We started with eight differenyt ideas and we went out and talkeds to over 50 doctors," Shennib "We asked how do you do things today, what are the productx and what are the Out of the eight ideas we came up with, we narrowe it down to two.
" The second company birthef from the Center for Medical Devicr Innovations is Cardiovu, which is developinbg a similar "smart patch" monitor for the adult heart. It is still a very early stage compan and its products have yet to clearclinicalk trials. Prenatek's fetal monitor has cleared preliminary "proof of clinical trials in a real hospita l withlive patients. The monitor is implanted into adisposablew "smart patch" that the expectant mothert wears on her abdomen. Unlike monitor that use ultrasound technology, this monitor registerxs the rhythm directly fromthe pre-birth infant'zs heart, which at 28 weeks is aboutg the size of a dime.
The data is transferree wirelessly tothe woman's physician or the woman herself. The companhy hopes to sell the monitor first to hospitale for use with womenwith high-risk pregnancie s and later as a product that all expectanr mothers could use themselves for reassurance that a pregnancy is goinhg well. "This (monitor) is targetingh pregnant women," said Shennib. "We are lookinh at a fetal monitorfor high-risk pregnancies and normal ones. The mothe would have the assurance that the baby is doinygwell 24/7." He estimated that therer are some 4.
1 million pregnant women in the United Stated and a third of them experience some type of Prenatek previously received a $500,0090 round of financing, but will be looking for a much greater amount this time around. In the search that led to Meister'a hiring, Shennib said, he was looking for someonwe with industry experience toreplace Prenatek's former CEO, Thar Hassoon, who left in "One of the things that attracted me was the company'sz IP position," said Meister, who held severapl senior management positions with and previouslu ran the Sequoia ultrasound line for sonographyt manufacturer "This is an exciting new technology that is locke down by the company.
" Meistert said he was also impressed by the track recorde of Shennib, who also founded in Newarmk and has a track record of developing medicalo devices for other companies. InSound last year released itsfirsg product: a tiny hearinvg aid called the Lyric that is worn inside the ear, just a few millimeterse from the ear and doesn't need to be taken out The Lyric, like other products developed by Shennib, is disposable for hygien e reasons. Prenatek says its fetal heart monitotr will alsobe "low cost," but company officials decline to estimate how much they might chargee for it.
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