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Pico-Tesla Magnetic Therapies, Inc. |
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7852 S Elati St
Littleton, CO 80120 USA
phone:(303) 795-3222
fax:
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Private |
| Founded |
2008 |
| Employees |
5 |
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| www.pico-tesla.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Pico-Tesla Magnetic Therapies is an emerging medical technology company focused initially on Parkinson's Disease. |
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| Management |
| Allen S. Braswell, Jr.- CEO; Jerry I. Jacobson, PhD, Chief Science Officer; James A. Doran, Chief Financial Officer |
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| Keywords |
| Parkinson�s disease, Alzheimer's Disease, Fibromyalgia, Osteoarthritis, Atrial Fibrillation, magnetic therapy, electro-magnetic therapy |
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| Description |
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Pico-Tesla, Magnetic Therapies, LLC is a medical research and device development company that has designed, patented and manufactured a system that provides a platform technology to therapeutically address several major areas of disease. Our lead indication and current area of focus is Parkinson�s Disease |
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| Products / Services |
Pico-Tesla's Magneceutical? Therapy? is made possible by (a) the Company?s Resonator? device (which is leased to neurologists) and (b) the Company?s proprietary treatment protocols?is an Internet-enabled, database-driven ?Software as a Service? (SaaS) business model focusing initially on Parkinson?s.
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| Technology / Differentiation |
| The Company is poised to eventually enter a number of large markets, and respond to their unmet needs, with an intervention that has demonstrated a clinical impact. For treating PD, neurologists will have recurring revenue, as will the Company, through ?pay-per-use? download of the Company?s protocols. Current treatment options for PD have significant downside for Patients. If successful in our Pivotal Clnical Trial, we will be the first intervention cleared by the FDA to improve aspects of "Quality of Life" for this patient population. |
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| Market / Customers |
Our primary initial customer are the 15,000 general Neurologists that support Parkinson?s disease (also known as ?PD?) affecting 1.5 million people in the U.S., with 60,000 news cases diagnosed each year. PD is a chronic and progressive degenerative disease of the brain that impairs motor control, speech, and other functions. Key to our business model is that Neurologists make very little money in treating this disease as there are very limited procedures available. If we achieve clearance then Neurologists will have an opportunity to improve their bottom line while offering this patient population an important treatment option.
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| Competitors / Substitutes / Alternatives |
Neuronetic's is the lead player in the Magnetic Stimulation space. They've set the stage by achieving FDA Clearance and CMS Cat 1 CPT code status with their "TMS" technology (transcranial magnetic stimulation), in the treatment of Depression.
Additionally, Neuronetic's answers the question: Are smart people in Healthcare investing large dollars in Magnetic Stimulation ? The answer is Yes, as Neuronetics has raised $100MM in the last 8 years
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| Funding |
| CEO Allen Braswell, along with his two partners, have invested $4 million in start-up funding for the Company. |
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| Status |
| We are 3/4 complete with our first Capital Raise of $4MM.
Pico-Tesla is a Pre-revenue company, with the following clinical trials underway.
Parkinson's Disease: Pivotal Trial (1/3 enrollment completed)
Fibromyalgia: Human Study(exploratory), IRB approval Oct. '10
Alzheimer's: Human Study (exploratory), IRB approval Oct. '10
Osteoarthritis: Human Study (dosing). IRB submisison Nov '10
Atrial Fibrillation: Human Study (exploratory). IRB submission Dec '10 |
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