Incisive Surgical, Inc.

NeuroOne Medical Technologies (OTC:NMTC) announced today that it appointed Ronald McClurg as its chief financial officer. McClurg, a veteran of 30 years in the space of financial leadership, has held the role of CFO for companies including Orthomet, Incisive Surgical, Video Sentry and Insignia Systems, having begun his career in public accounting at Ernst and Young, according to a news release. “Over the past quarter, the company has made great progress in achieving key milestones and building our infrastructure,” NeuroOne president & CEO Dave Rosa said in the release. “With our future goal to uplist to a major national securities exchange, it became critical to add a seasoned senior financial executive such as Ron. “His broad experience with both public and private companies as well as his familiarity with medical device companies make him an ideal fit for the role of CFO at NeuroOne. We are very fortunate to have him as part of the NeuroOne family and look forward to working with him.” Eden Prairie, Minn.-based NeuroOne, a medtech company developing surgical care options for patients suffering from neurological disorders, received FDA clearance for its Evo cortical electrode technology in November 2019. The company said in the release that it is planning to submit for 510(k) clearance for its sEEG electrode technology for recording, monitoring and stimulating brain tissue in the first half of this year. NeuroOne is also continuing development for therapeutic electrode technology for use in Parkinson’s Disease, epilepsy and back pain due to failed back surgery. “I’m excited to join the NeuroOne team because I believe in the company’s growth strategy to improve outcomes for patients suffering from neurological disorders and enhance shareholder value,” McClurg said. “I feel that my skills and experience will complement those of the rest of the NeuroOne leadership team.”

The Midwest is growing lots of medical products, if this week’s investment and development news stories are milestones. In Cleveland, Ohio, and San Diego, Calif., Freedom Meditech closed the second round of its Series A capital venture raise. The company is based in San Diego but is doing research and development work in a handful of Ohio cities on medical devices that manage diabetes, notably a non-invasive device that measures blood glucose levels in diabetic patients by shining light in their eyes. The Cleveland Clinic is investing its time and expertise in Huntingdon, Penn.-based FTA Therapeutics LLC,which wants to develop “free-ion based topical drug delivery systems and surface applications” that prevent and treat infections caused by drug-resistant microorganisms, like methicillin-resistant Staphylococcus aureus bacteria, better known as MRSA. And Cleveland biopharmaceutical company Athersys Inc. is looking for commercial partners to help it develop and test its stem cell and drug therapies aimed at treating a variety of health problems from strokes to obesity. In Gahanna, Ohio, PercuVision has raised more than $2.9 million from angel investors and expects U.S. Food and Drug Administration approval this month to start selling its product – a catheter with a flashlight and camera at the end that enables nurses to avoid damaging the urethras of men while inserting urinary catheters. And US Endoscopy, a well-established maker of products for gastroenterologists in Mentor, Ohio, debuted Boost — a piece of blue foam with an uneven cut across the top and an odd, bigger-than-a-doughnut-hole gash just off center — designed to stabilize the heads of patients during certain endoscopic procedures. US Endoscopy says it’s never found a bigger unmet customer need than the one oost fills. In Plymouth, Minn., skin-stapling device company Incisive Surgical is raising additional money to fuel sales of its redesigned device. INSORB Absorbable Skin Stapler now promises a quicker — and better-looking — approach to stapling by using dissolvable staples that have a comparable strength to metal, are quick to apply, and go beneath the skin.  In Ann Arbor, Mich., imaging and advanced sensor technology company Ultrasound Medical Devices Inc. raised $1.2 million to develope advanced algorithms and software for certain kinds of enhanced cardiac ultrasound medical imaging. And in Indianapolis, Ind., a different type of innovation occurred. Drug maker Eli Lilly spun out its venture arm, Lilly Ventures, which will start with $200 million to invest in early-stage biotech companies, particularly those that can create multiple drugs. In people news, the Cleveland Clinic’s top fund-raising administrator, Carol Moss, is leaving the system for a similar position at the University of California San Francisco. Last year, the health system’s Campaign for Cleveland Clinic reached $1 billion … A longtime leader of cancer research at St. Jude Children’s Research Hospital in Tennessee — Peter J. Houghton — started this week as director of the Center for Childhood Cancer at The Research Institute at Nationwide Children’s Hospital in Columbus, Ohio. Cardinal Health in Dublin, Ohio, on Wednesday elected as planned its new chief executive officer, George Barrett, a company vice chairman who lead the health care supply chain services segment since January 2008 … And on Friday, the U.S. Senate unanimously confirmed a new National Institutes of Health director — Dr. Francis Collins, a physician-geneticist noted for his landmark discoveries of disease genes and his leadership of the Human Genome Project. Take care, and have a great weekend.