CHICAGO – September 17, 2019 – First Analysis portfolio company Checkpoint Surgical, a leader in hand-held, intraoperative neurostimulation technology for nerve protection and repair, announced it has received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for the Checkpoint brief electrostimulation therapy (BEST) system. The Checkpoint BEST system is designed to provide electrical stimulation of peripheral nerves to promote nerve regeneration as an adjunct to surgical intervention following nerve injury, with the goal of accelerating and improving patient recovery.
Checkpoint Surgical is one of several current First Analysis investments that leverage First Analysis’s deep expertise and long history investing in the medical and pharmaceutical technology sectors.
“Checkpoint BEST’s progress and Breakthrough designation is a great example of how private enterprise, government, and research can work together to help patients. It is heartening to see BEST move from an idea at our initial investment toward reality,” said Tracy Marshbanks, Managing Director at First Analysis. “First Analysis and our partners are proud to be part of this effort to advance neuroprotective and therapeutic technologies.”
“We are pleased to receive the Breakthrough Device designation from the FDA as it will allow Checkpoint Surgical to deliver this important innovation in nerve regeneration for patients much sooner,” said Len Cosentino, President and CEO of Checkpoint Surgical. “Based on the recently published research by our clinical partners Dr. Susan Mackinnon and Dr. Amy Moore at Washington University in St. Louis, we believe the Checkpoint BEST system will be transformational for the treatment of nerve injuries. We are actively enrolling patients in a clinical study of the Checkpoint BEST technology at Washington University in St. Louis and working to add additional surgeon collaborators and study sites.”
About Checkpoint Surgical
Checkpoint Surgical, headquartered in Cleveland, is a privately held medical device company committed to providing surgeons with user-friendly, cost-effective devices to protect and repair nerves intraoperatively across the anatomy. Its mission is to advance the science and practice of nerve protection and repair to improve the quality of life for patients and physicians. Its technologies are state of the art for hand-held motor nerve location, identification and assessment in peripheral nerve repair surgery, targeted muscle reinnervation, upper and lower extremity orthopedic surgery, and head and neck surgical oncology.
About First Analysis
First Analysis is a leading venture capital investor, having invested more than $780 million over four decades. With our integrative research process, we aim to invest in the best, established rapid-growth companies in the targeted sectors where we are acknowledged experts and where our success benefits not only our investors, but also our broader society and environment. The integrative research process combines 1) dynamic investment research on thousands of publicly traded and privately held companies with 2) thousands of relationships among executives, investors, and other key participants in our focus areas, yielding a deep, comprehensive understanding of each sector’s near-term and long-term potential. We help companies become profitable leaders in large markets, funding growth plans, working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development, and typically investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective.
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First Analysis portfolio company Checkpoint Surgical receives FDA breakthrough designation for nerve regeneration device – Sept 2019