Startup launches brain-tumor removal device-WEB ONLY

Indianapolis-based
medical device startup NICO Corp. announced it will introduce its first
commercial product today at the American Association of Neurological
Surgeons conference in San Diego.

NICO,
which stands for Neuro Interventional Co., was founded last year by a
core group of entrepreneurs who had previously formed medical-device
maker Suros Surgical Systems Inc., one of the fastest-growing companies
in Indianapolis history. Just six years after starting Suros in 2000, they sold it for $248 million.

NICO
is attempting to commercialize a minimally-invasive device dubbed “the
Myriad” that can remove tumors and tissues from the human brain and
spine. The device is based on the same technology Suros used to create
its innovative equipment for automated-needle breast biopsies. NICO
licensed the technology from Suros’ purchaser, Bedford, Mass.-based
Hologic Inc.


With the Myriad, NICO aims to help 200,000 people in the United States and 2 million worldwide annually diagnosed with brain tumors.

 

Since inception, NICO has raised $2.8 million, some from Suros’ original group of 45 angel investors.

“The Myriad will help revolutionize the neuro and spine tumor removal market as we know it today,” said NICO CEO Jim Pearson.

Pearson said the device has been successfully used at several leading U.S. institutions during the last year, including locally-based St. Vincent Hospital, during its testing phase.

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