Jun 28, 2019
Steven Plymale is the CEO of MyndTec. He joined the firm in late 2017 and has more than 25 years of experience in the medical device industry. Previously, he was CEO of Profound Medical, bringing the company from a small six-person team to going public in 2015 in an IPO that raised $60 million. Plymale was also with Xltek, now a division of Natus Medical, and Claron Technologies.
Milos Popovic is the Director of the Toronto Rehabilitation
Institute (KITE) and professor in the Institute of Biomaterials and
Biomedical Engineering at the University of Toronto. He is also the
co-founder and director of the MyndTec. Popovic’s decade of
research and randomized clinical trials with stroke and spinal cord
injury populations led to the development of the MyndMove
device.
Takeaways:
Multidisciplinary teams help to build a successful rehabilitation
institute.
Translation of rehabilitation technology is not easy but it can be
fun.
It is important to harness neuroplasticity in the body and the
brain to achieve successful long-lasting outcomes in
rehabilitation.
[0:00] Steven Plymale and Milos Popovic introduced themselves to
kick off the conversation with Jen French from Neurotech Reports
and Ladan.
[0:35] Milos Popovic describes how RehabWeek 2019 ended up being
hosted in Toronto, the first time the event was held in North
America, and the plan his team put together
[1:32] Popovic describes his career journey from a nuclear engineer
to director of an innovative rehabilitation research center and
entrepreneur.
[3:33] Discussion of the building of the rehabilitation institute
in Toronto Health Network with a team of 90 people and the
importance of working directly with patients.
[4:58] Popovic describes the translation of technology from lab to
the marketplace particularly in functional electrical stimulation
and human clinical trials to a start-up company.
[6:24] Steven Plymale describes how he was introduced to MyndTec
and his initiation into a small, struggling start-up company. Hear
how he was convinced that electrical stimulation is not voodoo
science
[7:50] Plymale and Popovic describe the MyndMove device..
Discussion ensues about the impact on upper extremity
rehabilitation and the involvement of the brain, the melody of the
neural activity, and how this therapy capitalizes on the
neuroplasticity in the brain.
[12:02] Plymale discusses the current stage of MyndMove in the
project development spectrum including regulatory approvals,
raising capital investment, and pricing model.
[15:26] What is the target market for the MyndTec neural
re-education device? Plymale also talks about their pursuit for
clinical partners, their strategic focus and the economics of the
medical device as an early stage venture.
[18:06] Steven Plymale talks about his career journey in the
medical device industry and how he enjoys start-up ventures.
[19:25] Popovic concludes talking about what excites him at
RehabWeek and the potential relationships building from this
meeting.