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Revolutionizing Dialysis Care: From Johns Hopkins to TIME's Best Inventions with David Narrow
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F Javier Perez from MedTech Digest and I are joined by David Narrow, Co-founder and CEO of Sonavex, where we explore the journey of building innovative medical devices, navigating regulatory approvals, and transforming dialysis care.
In this episode, we break down:
The Journey from Academia to MedTech Entrepreneurship
→ Spinning technology out of Johns Hopkins University
→ Building the right team and securing early validation
→ Transitioning from biomedical engineering to business leadership
Revolutionizing Dialysis Care with AI-Enabled Ultrasound
→ Understanding the critical need for better vascular access
→ How EchoMark and EchoSure work together to improve outcomes
→ Reducing catheter dependency from 7 months to weeks
Navigating CPT Codes and Reimbursement
→ Starting the process at the right time with clinical trials
→ Building relationships with specialty societies
→ Understanding the non-meritocratic nature of coding approval
Securing $24M in Funding During Tough Market Conditions
→ Working backwards from potential exits
→ Building comprehensive data rooms and economic models
→ Maintaining relationships with investors through milestones
Platform Technology and Future Applications
→ Expanding beyond initial use cases
→ Development of needle guidance technology
→ Leveraging grants for new product development
Best Quotes:
"It's not about how much you know, but how well you can apply, test, and iterate on that knowledge in the real world."
"What blew my mind was that 1% of the entire federal government budget is spent on dialysis care."
"An organized oligopoly is essentially a monopoly."
"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."
Want more insights on medtech innovation? Press subscribe to unpack hot takes and insider tactics from the trenches of medtech startups.
📈 Ready to accelerate your medtech journey? Join XO Medtech - the #1 network for medtech innovators: https://xomedtech.com
FIND SPENCER JONES ON SOCIAL LinkedIn: https://www.linkedin.com/in/spencer-jones-... XO Medtech LinkedIn: https://www.linkedin.com/company/xo-medtech
FIND DAVID NARROW ON SOCIAL LinkedIn: https://www.linkedin.com/in/david-narrow Sonavex LinkedIn: https://www.linkedin.com/company/sonavex Sonavex: www.sonavex.com
FIND F. JAVIER PEREZ ON SOCIAL
LinkedIn: linkedin.com/in/francisco-javier-perez-cfa
MedTech Digest: https://themedtechdigest.com/
Episode Timestamps:
0:00 - Introduction to F. Javier Perez
3:45 - The Academic to Entrepreneur Journey
6:00 - Understanding the Dialysis Market
12:45 - Navigating CPT Codes and Reimbursement
14:45 - Fundraising Strategy and Market Access
24:20 - Study Details
31:32 - Future Applications and Pipeline Development
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