The HMH Emerge program, a pitch competition jointly run by Hackensack Meridian Health and Choose New Jersey, has selected two promising medtech companies from Ireland to support through their growing stage.
Spiorad and NeuroBell are the two winning companies selected by the HMH Emerge board of directors. Spiorad Medical is simplifying the closure of femoral vascular access, making complex cardiovascular procedures safer for patients and easier for physicians. NeuroBell offers a pocket-sized EEG monitor with automated neonatal seizure detection, with minimal setup and maintenance.
The companies will receive a combination of financial support, clinical support by way of trials or clinical studies, and business model refinement to help better position them for the U.S. provider market. This would be applied in line with the company’s needs.
“HMH Emerge has selected two companies with absolutely winning ideas to address common health challenges,” said Ihor Sawczuk, M.D., FACS, Hackensack Meridian Health’s president of Academics, Research and Innovation, founding chair of the Hackensack Meridian Health Institute, and also associate dean of Clinical Integration and professor and chair emeritus of Urology at the Hackensack Meridian School of Medicine. “We eagerly anticipate what these groups can do in the marketplace – and in the clinical setting.”
“The innovation coming out of Ireland is truly remarkable, and we are proud to help Spiorad and NeuroBell expand their transformative solutions here in New Jersey,” said Bill Noonan, chief business development officer at Choose New Jersey. “This partnership exemplifies how our state fosters cutting-edge health care advancements by connecting global talent with unparalleled resources.”
Spiorad aims to provide a new solution to better and more quickly close holes in the femoral artery necessary in a variety of procedures, including cardiac and vascular interventions. Their goal, using a new method of closing the vessel from the outside, is to have their first-in-human procedures in the next two years.
“We are thrilled to be partnering with HMH Emerge to bring our company to the next level,” said Judi O’Malley, CEO, co-founder, and company director of Spiorad.
NeuroBell aims to provide a pocket-sized, wireless EEG monitor specifically for newborns, who can have silent seizures that heighten the likelihood of permanent brain damage. They currently have two clinical trials underway in Ireland and the U.S.
“We believe the connections and support from Hackensack Meridian Health, Choose New Jersey, and the HMH Emerge program are enabling us to accelerate our growth to meet this critical health challenge,” said Mark O’Sullivan, Ph.D., CEO and co-founder of NeuroBell.
Welcoming Thursday’s announcement, Aidan McKenna, director of Enterprise Ireland USA, said: “Spiorad and NeuroBell are two highly innovative Irish medtech companies who are delivering new solutions to improve patient outcomes. Both companies represent the high caliber of medtech innovation from Ireland, one of the leading medtech hubs in the world.
“It’s a significant achievement that both companies have received the endorsement and support of Hackensack Meridian Health and Choose New Jersey and this very much aligns with Enterprise Ireland’s agenda, driving investment and expansion of Irish companies in the U.S.A.,” McKenna said.
Hackensack Meridian Health, New Jersey’s largest and most comprehensive health network, and Choose New Jersey, the state’s leading nonprofit economic development organization, started the new, exclusive pitch competition for Ireland-based health startups in Spring 2024. The program has provided an unparalleled opportunity to take ideas to reality through piloting, partnering, mentorship, and/or investment.
The opportunity is to provide Irish companies with new healthcare innovations with the chance for growth and opportunity, designed to propel healthcare innovation to the global stage.
The potential partnership, piloting opportunities, and investments are decided on a case-by-case basis and based on a mutually beneficial outcome. Intellectual property (IP) protection is assured by non-disclosure agreements (NDAs) which ensure intellectual property is safeguarded during the program.
“This has been an exceptional program, in fostering brand new ways of looking at ideas, through their market and clinical value,” said Sandra Powell-Elliott, the chief innovation officer for Hackensack Meridian Health, who leads the network’s Office of Innovation and Commercialization. “The discussions have been invaluable for all parties involved.”
