This is part of a weekly series featuring a profile on one of the 2016 MetroConnect Program companies. MetroConnect is dedicated to helping local San Diego businesses go global and is presented by JPMorgan Chase.
In a recent report released by California Life Sciences Association, $23 billion in California’s 2015 exports came from life sciences. With more than 1,100 companies and a total economic impact of more than $31.8 billion, it is no surprise that San Diego’s life science sector ranks 4th in the nation. Our next MetroConnect company profile features an innovative medical device company that plans to advance San Diego’s life science reputation abroad, AVACEN Medical.
In 2009, Tom Muehlbauer founded AVACEN Medical, a company that produces a medical device initially developed for his sister-in-law who suffered from chronic migraines. Through a micro-circulation mechanism, the AVACEN 100 provides non-invasive, temporary arthritis and muscle pain relief and relaxation. Cleared by the FDA, the device is an over the counter option that’s can be self-administered from the comfort of one’s own home.
Recognizing an opportunity to expand into the EU, AVACEN Medical plans to leverage the MetroConnect Grant Prize to help in obtaining their CE mark, as well as developing better ways of delivering their products to international markets. The company also plans to use the MetroConnect Program to expand their patent portfolio, particularly across Japan, Europe and South Korea.
Muehlbauer states, “Based on the early interest and success we’ve seen in the launch of the AVACEN 100, we’re excited to scale up and bring our product to an international customer base. Arthritis and muscle pain is something that affects millions around the world, and our participation in MetroConnect will allow our at-home solution to help more of those patients in need of relief.”
The success of small- and medium-sized businesses is critical to the region’s future, and increasing their global reach is crucial to that success. Through the MetroConnect Program, companies such as AVACEN Medical are to be awarded a $10,000 grant provided by JPMorgan Chase to assist with their international efforts, as well as additional support services including: a dedicated trade and investment manager at WTC San Diego to support company participants in deploying overseas strategies during the grant period; access to workshops that address export compliance, financing and fundraising and global marketing; reduced airfare on Japan Airlines direct flights from San Diego to Tokyo; free access to SYSTRAN software for website translation and customer service needs; and consideration to compete for an additional $35,000 during the MetroConnect Grand Prize Pitchfest in November 2016.