Company: Tangent Medical Technologies
Location: Ann Arbor, MI
Scoop: Two-year old Tangent Medical Technologies is a spinoff from the University of Michigan's Medical Innovation Center fellowship program. The young company is looking to address the health and safety shortcomings associated with conventional peripheral intravenous fluid/medication delivery systems.
Tangent is developing and hopes to soon commercialize Novacath--a safer and more effective design for delivery of intravenous fluid and medication through peripheral veins.
Adrienne Harris, Elyse Kemmerer, Merrell Sami and Steven White got the idea for the company after noticing that the current design for peripheral IVs has a high complication rate. Last year, Tangent finalized its licensing agreement with the University of Michigan that provides the school with an equity stake in the company.
Over the summer, the company tapped Jeffrey Williams as its CEO; Williams succeeded Hank Brown. Williams, who is serving as dual roles as the head of Tangent and Life Magnetics, is a familiar face in Ann Arbor med tech, having served as president and CEO of Accuri Cytometers until its sale this past March.
Tangent is currently focusing on obtaining regulatory clearance in the U.S. and will then target Europe, Kemmerer, the company's director of marketing, told FierceMedicalDevices. In preparation for NovaCath's eventual launch, the company plans to make sales-oriented hirings. Tangent also has other ideas for improving the safety and comfort of IV catheters, Kemmerer added.