SecondWave Systems
Overview
SecondWave Systems, Inc. is a pioneering company in the field of bio-ultrasonic medicine, developing a noninvasive, wearable ultrasound stimulation platform. Founded in 2019 by Anuj Bhardwaj, Jeff Heyman, and Hubert Lim, the company aims to offer new treatment options for debilitating diseases like rheumatoid arthritis (RA). Headquartered in Minneapolis, Minnesota, SecondWave Systems has secured funding of over $15 million from U.S. government agencies to advance its innovative technology.
Recent Developments
- November 15, 2024: SecondWave Systems joined Fogarty Innovation's company accelerator program, focusing on preparing for their upcoming clinical study in rheumatoid arthritis. They have demonstrated positive clinical results showing a reduction in disease activity for both moderate and severe RA patients.
- March 28, 2024: The company secured an additional $3 million in funding from the Advanced Research Projects Agency for Health (ARPA-H) and the Defense Advanced Research Projects Agency (DARPA), totaling $15.3 million in non-dilutive funding to develop their MINI technology platform for treating chronic inflammatory disorders.
- May 1, 2024: Announced completion of a clinical study involving their novel ultrasound technology, showing significant improvement in disease activity in RA patients, with positive safety and efficacy data.
- 2023: SecondWave Systems received a grant of $3 million for developing its wearable ultrasound technology further. They also saw a potential market expansion towards conditions like Long COVID, aiming to reduce chronic inflammation.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Minneapolis, MN, USA |
| Founders | Anuj Bhardwaj, Jeff Heyman, Hubert Lim |
| Key Investors | ARPA-H, DARPA |
| Industry | Bio-Ultrasonic Medicine |
| Number of Employees | 11-50 |
Early History
SecondWave Systems was conceived from the ideas and leadership of Anuj Bhardwaj, inspired by ultrasonic equipment used in industrial settings. In 2018, Bhardwaj, along with Jeff Heyman and Hubert Lim, explored the potential of low-intensity focused ultrasound (LiFU) in medicine. The early focus was on targeting the spleen to treat rheumatoid arthritis by reducing inflammation—a breakthrough that attracted funding and partnerships with institutions like the University of Minnesota and DARPA.
Company Profile and Achievements
SecondWave Systems has emerged as a leader in bio-ultrasonic technology by developing the MINI platform, a wearable device for noninvasive treatment. Key achievements include successful pilots exhibiting significant patient improvement in RA and strategic collaborations with key medical institutions and government entities. The company's device operates by modulating the spleen to control inflammation. SecondWave's progress is bolstered by multiple rounds of funding and a robust IP portfolio anticipated to expand its application across various clinical conditions.
Current Operations and Market Position
Currently, SecondWave Systems is advancing its MINI platform to full commercialization. With strong support from government agencies and affiliations with research institutions, it positions itself as a significant player in the noninvasive therapy market. The company's unique approach through LiFU technology provides an alternative to conventional medication, potentially decreasing long-term healthcare costs and improving patient outcomes in inflammation-related conditions.
Conclusion
SecondWave Systems stands at the forefront of bio-ultrasonic medicine, offering innovative noninvasive treatment options with its MINI platform. Positioned with substantial government support and strategic partnerships, it has the potential to redefine standards in managing chronic inflammatory diseases like RA. With ongoing clinical trials and market expansion, SecondWave aims to continue its trajectory towards becoming a pivotal entity in healthcare innovation.