The Challenge
As a small start-up, Spinal Modulation had developed a nerve stimulation therapy designed to interrupt the transmission of pain sensation. The device required placing multiple, electrical stimulation leads within the spinal column at specific, high-density nerve bundles. The company had designed the leads and stimulation unit, but lacked the resources to develop subcutaneous delivery, lead navigation and anchoring technologies critical to patient safety and device efficacy.
The Solution
Rev.1 designed and developed an elegant, miniature, integrated delivery/navigation/anchoring system that enabled Spinal Modulation to successfully navigate both pre-clinical and clinical studies, and secure additional equity financing. The novel, breakthrough device employed materials and processes that were first of kind, adding strength to the company’s I.P. portfolio.
“At a strategic level, we wanted to develop a proprietary technology capable of gaining market share and sell the company. It’s a challenge to take an idea and turn it into a commercial success. Lots of pieces have to fit together in the process, and funding is required all along the way. REV·1’s systematic, structured approach defined the problem and created models. Then, their structured, disciplined systematic methodology created a predictable pathway with efficient and predictable outcomes.”
DAVID WOOD, CEO, SPINAL MODULATION
The Result
In 2013, St. Jude Medical infused a $40 million equity investment in Spinal Modulation and acquired the company for an additional $175 million in 2015.
The Solution
“We didn’t know what “on-time” would look like. But at the end of the day, Rev.1 delivered a ready-for-manufacturing product within the framework of our funding. And we sold the company, meeting that goal, too. The product and our acquisition happened far faster due to Rev.1’s partnership. The ROI of working with them provided itself over and over.”
DAVID WOOD, CEO, SPINAL MODULATION
DAVID WOOD, CEO, SPINAL MODULATION