Transmural has successfully leveraged over $10 million in SBIR funding to advance development of new innovative medical devices that address unmet needs in cardiology.
Client: Transmural Systems . Location: Andover, MA . Sector: Medical Device Manufacture
Year: 2014 – Present . Link: www.transmuralsystems.com
As an engineer at Medtronic for many years, Nasser Rafiee had many ideas for lifesaving cardiovascular devices that were not appropriate for Medtronic to develop because the market size was too small. In 2014, Nasser decided to take the plunge and start his own company, Transmural Systems – in his basement – to develop these devices that would save lives of babies and the adult population. However, seeking funding was a challenge, and even though the National Institute of Heart, Lung, and Blood (NHLBI) expressed interest, the application for funding was overwhelming.
“The first real major investment that we had made, which reaped significant benefit for the company.”
– Kathleen Pizutti, General Manager
Nasser purchased EGC’s book on preparing Phase I SBIR/STTR applications, and while reading the book on a plane, his wife encouraged him to call EGC to get help with his NIH contracts. In an intense period of 4 weeks, EGC collaborated with Nasser to prepare 2 contract applications that were awarded for $6 Million.
EGC’s accounting and compliance team supported Transmural with every step of the contract negotiation, has continued to serve as Transmural’s accounting team for the past 9 years. Transmural has gone on to receive an additional $9M in federal awards, and now has multiple products in clinical trials.
Listen to the Interview with Co-found Kathleen Pizzuti
Eva Garland Consulting CEO, Dr. Eva Garland, speaks with Transmural Systems co-founder Kathleen Pizzuti. Kathleen provides insight into how the Transmural team grew their company from a true basement start-up into a clinical stage company using SBIR funding.
$15M
Non-dilutive funding awarded
+9
Years as EGC client
