The Next Step: Creating a Better Market for Technological Innovation
My primary focus on this blog has always been neurotechnology and I will continue to blog about the latest scientific discoveries and challenges that face companies in this space. I want to devote this particular post, however, to discussing a new endeavor that I am excited to share with my readers.
I founded MicroTransponder back in 2007 with the ambition of developing a medical device that can treat millions of patients with neurological disease. I’m proud to say that after many years of research, our therapy has now left the research phase and entered the clinical phase of development. You will be seeing the results of thousands of hours of work towards garnering the financing to bridge the gap from idea to patient. You will see a number of very positive developments to support ushering our therapy to the patients who desperately need it. My work at Microtransponder is not finished, but my role is changing to Chairman. The day to day operations are left in very good hands with a very capable team. Now, in some sense we have to sit back and wait to see how effective our therapy is in a wider population of patients.
After learning so much about technology translation, I’ve chosen to chosen to take on a new challenge and assume the role of CEO for Lexington Technology Group, Inc., a privately-owned company www.lex-tg.com that recently announced it has signed a definitive merger agreement with Document Security System. www.dsssecure.com
As I have frequently blogged on this site, entrepreneurs today must find alternate sources of financing innovation. With healthcare being front and center in this election, I’m surprised that neither candidate has understood that innovation/not policy is the only way we can salvage the healthcare system. In furtherance of developing an pro-innovation environment in healthcare, Lexington Technology will focus on protecting inventors/innovation and ushering new technologies to productization with proceeds from high stakes litigation. We hope to develop a suite of software products utilizing advance database technologies to optimize the patient experience. Patent litigation
After a decade of developing sophisticated technology, I’ve come to recognize that the interests of inventors are often pitted against those of well-heeled corporations in a battle over intellectual property rights. The team of experienced patent managers at Lexington stands on the side of inventors and innovation, and is working to create a market that supports and rewards their efforts.
I spent my years at MicroTransponder leading a large team of neuroscientists and neuroengineers to explore the brain’s mechanisms of action as they relate to neurological disease. From this research, the team was able to design an implantable medical device that can deliver electrical pulses to the brain via a nerve in the neck, and rewire the brain to overcome neurological deficits. We collaborated with a large group of academics from dozens of top programs worldwide and the research was published in renowned academic journals including Nature and the New England Journal of Medicine. I plan to continue the same collaborative efforts at Lexington and commercialize additional technologies.
As a scientist, I remain committed to research and innovation, but the current market for technological innovation is flawed. This new endeavor will allow me to focus on alternative ways to bring innovative and much-needed products and devices to market. I will continue to blog about important neurostimulation news, but will have other topics related to technological innovation to share as well.