SEATTLE January 12, 2018
Today, AngelMD’s Catalyst I LP (“the Fund”) announced it has invested in Green Sun Medical, LLC (“the Company”). Green Sun Medical is a Colorado-based medical device company that has developed the first substantial change to Adolescent Scoliosis bracing treatment in over 50 years. The Fund’s investment of $500,000 represents the amount needed by the Company to close its current round of financing which, along with an earlier investment by an AngelMD Syndicate, will make AngelMD Green Sun Medical’s largest investor.
Even after decades of research, scoliosis is still a mystery to the medical community since most cases are idiopathic, meaning they have no known cause. What we do know is that, when detected early and treated appropriately, the spinal curve progression can be halted; and the debilitating effects of scoliosis can be greatly mitigated.
Static bracing, the current standard of care, only saves one in three patients from spinal fusion surgery. Green Sun Medical’s approach is to use its comfortable dynamic brace to provide continuous corrective pressure while allowing the patients to move and function as normal teenagers. Pressure sensors in the brace allow the physicians to monitor remotely the performance of the brace to ensure that their patients are receiving the best possible treatment.
The problem with the current braces on the market is that they’re only designed to prevent the scoliosis curve from getting worse. They are made from rigid plastic, which leads to patient discomfort and low compliance. Green Sun Medical’s solution addresses both issues, which leads to improved compliance and continuous corrective pressure on the patient’s spine.
“Green Sun has compiled a world-class development team, including some of the world’s thought leaders in scoliosis treatment,” said Charlie Emley, Managing Partner of the Catalyst I Fund. Mr. Emley will join the Company’s Board of Directors as a Board Observer. “The leadership team is an ideal mix of healthcare, technical and marketing professionals who will guide Green Sun’s commercialization, the likes of which we don’t often see. We know that pediatric experts agreed with our opinion when Green Sun Medical received the top award at the 5th Annual Pediatric Device Innovation Symposium sponsored by the National Capital Consortium for Pediatric Device Innovation (NCC-PDI)”
“We know that AngelMD is always seeking out companies that not only have a novel approach, but also the team to build a successful company,” said Jamie Haggard, Cofounder and CEO of Green Sun Medical. “We’re excited to have AngelMD physician network as a partner in our success, and we’re proud to have Catalyst I LP be our largest investor.”
About Green Sun Medical
Green Sun Medical was founded to develop innovative treatments to address Adolescent Idiopathic Scoliosis and Kyphosis with a dynamic orthosis founded on sound biomechanical principles. For more information, visit http://www.greensunmedical.com
AngelMD is an investment and networking platform connecting medical startups, physicians, investors, and industry partners. Leading physicians from all over the US have joined AngelMD to help source, evaluate and advise companies in biotechnology, medical device, and healthcare technology. For more information, visit http://www.angelmd.co.
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