What does InMotus Medical do?
InMotus Medical™ is a privately held medical innovation development company on its way to becoming the premier international company for fostering innovations in multiple areas and accelerating their development for the benefit of patients and the innovators. InMotus solicits medical device innovations, analyzes their feasibility tapping into a specialty Innovation Advisory Board, and streamlines development, protection and commercialization, benefitting patients and maximizing financial returns to innovators and investors. Medical professional-focused, InMotus is a one-stop development source for taking an innovation from a concept to realization.
Do you exclusively focus on medical-related innovations?
Yes… and no. InMotus Medical was founded primarily to assist medical professionals in the process of bringing their ideas to the market through the evaluation, validation, development, valuation, and the eventual transfer of their innovations/concepts using a trustworthy and streamlined approach that always honors the innovator. With that being said, InMotus Medical would be happy to assist in the innovative process, regardless it potential landing point as many of the steps are the same and each independent development team that is assembled around a concept is both virtual and unique, depending on the needs of the project.
What is your process to evaluate ideas?
An InMotus Medical Concept Quarterback guides an innovator through a straightforward, disciplined process, designed to provide timely advice of whether full-scale development should proceed or not. After a data gathering session, InMotus assists the innovator by evaluating three key critical aspects of the innovation: 1) market feasibility—how big is the market, is their competition, and is the innovation included as part of medical reimbursement; 2) intellectual property protection status—has the idea been protected and are there conflicts with other prior patents; 3) regulatory pathway—what is the FDA classification and the regulatory impact. Successfully navigating through these three gates leads to a design assessment phase followed by consideration of implementation-related analyses and decisions—investment requirements, funding, regulatory approvals, business case, manufacturing or licensure, supply base, etc. At an appropriate point in the process, we help the innovator form a Limited Liability Company to “house” the innovation.
How do I submit an innovation for consideration?
Submitting an idea or concept to InMotus Medical for evaluation is quite easy. We have a Concept and Innovator Submission form (click here to download the forms) that provides us with insight regarding your innovation and help us understand the concept that you are wanting to explore. We do require signing a mutual Non-Disclosure Agreement (NDA) prior to submission to ensure your idea’s protection (see below). Once we receive the Concept and Innovator Submission packet and NDA, our Concept Quarterback reviews your submission with our Innovation Advisory Board (a special team of colleagues and medical peers who have expertise and experience in bringing ideas to market), our Intellectual Property advisors, business consultants and regulatory specialists. Once we have had a chance to evaluate your submission, we schedule a meeting to discuss the best way to move forward with the further evaluation or development of your concept.
I am concerned about IP protection. Will you sign a Non-Disclosure Agreement?
Absolutely. In fact, we require it. Keeping your ideas protected is one of our key values as a company. We are here to assist you with the developmental process. We would also highly encourage you to fully protect your innovation by having anyone you show it to, or share it with, sign a NDA. We not accept a Concept and Innovation Submission packet without a mutual NDA. Our NDA can be found (here).
How much do you charge?
Perhaps a better question is, how much will you save? There is absolutely no charge for the initial evaluation of your concept and preliminary feedback. This is perhaps the most important step and we are providing it as a complimentary service. While most ideas are good, not all are unique, marketable or worth pursuing. In fact, statistically somewhere between 2-4% of new concepts or innovations are capable of actually penetrating the market and being financially rewarding to the innovators and investors. This is why the assessment step is critical. We do NOT believe in the “slow no”, as it wastes time and money and often leaves the innovator frustrated and dejected. On the other hand, a quick “failure” of a concept frees the innovator to move on to his/her next idea and saves valuable resources for the eventual “go” project that has the most potential.
The other key in considering the “cost of development” is determining how much control the innovator would like to maintain. We fully recognize that some innovators want “full” control of their concept development, in which case the InMotus Medical “charge” is commission-based to cover the costs of overseeing the developmental process and is assessed upon successful transfer of your technology.
Most of our services, if you choose to self-fund your development are at cost-plus, which are competitive with industry/market rates. The main advantage of using InMotus Medical in this manner is that all of your developmental needs and strategic partners are in one place and you have access to our “Concept Quarterback” who is specifically assigned to you to help you get organized and move forward in a timely manner. If we determine that your idea needs more “incubation” before pursuing full development, then we may guide you towards filing a provisional patent and obtaining initial professional concept drawings plus a rapid prototype with 3d printing. Obviously, the cost to an innovator varies depending on the complexity of the innovation and the development path that we mutually agree to follow.
If you do not have the resources, whether it be money or time, to develop your concept and InMotus Medical determines that it is worth pursuing, we are open to either covering the development costs or soliciting investors to fuel the process to move it forward. You are still given a significant royalty and credit as the key innovator. Depending on the concept, we often also find innovative collaborators who can join the team to increase the success rate while decreasing the risk of development.
Finally, it cannot be stressed enough that each idea (and innovator) is unique and we assemble a team to give it the best chance to succeed. With that being said, costs vary based on the type of idea, role of the innovator, and funds needed to fuel its development. InMotus Medial fully discloses the estimated costs ahead of each step enabling each of our innovative partners to select which is the best pathway to success.
How best do I contact you?
An email (email@example.com) or phone call (800-418-7005) is the best way to contact us.
Can I invest in your company or in innovations?
Yes. There are investment opportunities in InMotus Medical as a company and in its individual concepts/innovations. Funding innovation can be very exciting and rewarding. At this time, if you have any interest in investing in InMotus, please click here for more information (link to investors tab on website) or contact us at firstname.lastname@example.org
What makes InMotus Medical unique compared to other concept development companies?
InMotus Medical is unique for several reasons. While it is true that we are a technology incubator and developmental accelerator, InMotus Medical is much more than that. We are an innovator-centric company that is dedicated to helping our innovative partners maintain as much control over the development of their concept as possible, while surrounding them with a virtual and highly specialized team, including individualized consultants from our highly-esteemed Innovation Advisory Board made up of your peers, several of whom will be involved to help ensure the success of your concept. We also take pride in the education process when it comes to product development. If a concept fails, we help our innovators understand the reason, and how to re-approach the innovative process to increase the likelihood of making it to the market with a modification or another concept.
Another unique feature of our company is the community aspect of what we are trying to create. Within this special innovators community, we are able to identify which innovations and/or innovators could work better in a collaborative effort. Collaboration can be a fun, efficient, cost effective, and risk reducing approach to new concept development.
Finally, and perhaps the most important differentiator is the ability to invest in the development of your peers ideas. There is no other company that allows you to team up with your fellow innovators by helping fund their innovations, and there are no better investors than potential end-users.
Or more simply put…
Innovate, involve, invest and inspire. Are you In?
Who are your founders?
ADAM PERLER, DPM, FACFAS
Dr. Perler is an advanced trained podiatric surgeon whose practice focuses primarily on trauma, pediatric foot and ankle problems, sports & dance medicine, peripheral nerve disorders, advanced adult reconstruction, use of 3D printing, and total ankle joint replacement. He actively lectures and has authored several articles and textbook chapters. He is a Fellow of the American College of Foot and Ankle Surgeons and is board certified in both Foot and Reconstructive Rearfoot and Ankle Surgery by the American Board of Foot and Ankle Surgery. He is also a Fellow of the American Association of Extremity Nerve Surgeons. He completed his medical education at Scholl College of Podiatric Medicine at the Rosalind Franklin School of Medicine and completed an advanced surgical residency at Palmetto General Hospital, in Hialeah, Florida. He then went on to complete his education with a mini-fellowship in Ilizarov (external fixation) Orthopedic Lower Extremity Reconstructive Surgery at the Russian Ilizarov Science Center for Restorative Traumatology and Orthopaedics in Kurgan, Russian Federation under Professor Shetsov. He then traveled to Hannover, Germany where he completed an AO International Orthopedic Trauma Fellowship at the world-renowned Hannover Medical Center, Department of Trauma under the guidance of Professor Christian Krettek.
Dr. Perler is fully engaged in new product innovation and has several innovations that are currently in the design phases, and is holding three patents on a new total ankle joint replacement system, two patents on surgical instruments, and has four more patents that are pending . He has been involved in new product development from the onset of practice and has served as a Key Opinion Leader and consultant for several orthopedic device manufacturers, including Biomet, Synthes, Stryker, MMI, Artelon, Solana Surgical, Tides Medical, TriMed, Osteomed, Treace Medical, CrossRoads Surgical, Fx Devices, NewClip and Additive Orthopaedics. He served as an adviser for Swarm Interactive and New Balance. He has practiced with American Health Network Foot & Ankle for Twelve years and was instrumental in the initiation of their premier foot and ankle surgical reconstructive fellowship program. He has served on the Board of Directors for the Association of Extremity Nerve Surgeons for several years. He also served on the Board of Directors of the Indiana Ballet Conservatory and was the founder and chairman of both the “Pointe to the Cure” and “Create 4 the Cure” initiatives, which are fundraisers for local childhood cancer research and creative art therapy programs which he has aimed to help grow into national initiatives. In 2013, he was recognized by the Indiana Podiatric Medical Association with a special award for his dedication and service to community. Dr. Perler has also served as Section Chair of Podiatric Surgery for the St. Vincent Hospital System. He is currently the Section Chair of Podiatric Surgery at St. Anthony's Hospital He currently practices at Alexander Orthopaedic Associates in St. Petersburg, FL. He is married and has two beautiful little girls. He is an avid cyclist and recently competed and placed 8th at the US Masters National held at the Major Taylor Velodrome in Indianapolis. He has also won three State Championships on both the road and track in cycling. He enjoys photography, painting, hiking, and spending time with his family.
CHARLES "SKEETS" JAMES
Charles “Skeets” James is the CEO/CFO and part owner of eGov Strategies, a SaaS provider of on-line solutions to municipal governments. Prior to his current position, he was COO/CFO of AXS Imaging, an independent distributor of medical imaging equipment. He was recruited to the position by a venture company to assist the CEO in his first exposure to working with shareholders, a Board and managing bank debt. He assisted in the sale of this company to a competitor. Prior to this position, for six years, Skeets was an executive at TriMedx, serving in several leadership positions (V.P. Service, CFO, and Corporate Responsibility Officer) in this entrepreneurial, high growth medical equipment service company in need of turnaround expertise. Prior to joining TriMedx, he held senior-level positions at General Motors, from Divisional CFO to Director of Healthcare Initiatives, retiring after 33 years.
A CPA, Skeets earned an undergraduate degree in Accounting from Ohio State University and an MBA from the University of Dayton. He also attended Harvard University’s Program for Management Development. He is a member of the Indiana Venture Club and Financial Executives International. He counsels entrepreneurs and is the Treasurer of the Visiting Nurse Service, and an active member of the Butler College of Business Dean’s advisory board. For three years, he was a board member of Techpoint, an Indiana technology focused advocacy group. He has been a leadership coach to Butler MBA students for 4 years and was a 2009 honoree in IBJ’s CFO of the year award.
JAMES SPITLER, CHIEF TECHNOLOGY OFFICER
ABOUT INNOVATING WITH INMOTUS
Do you exclusively focus on medical innovations?
What is the process to evaluate ideas?
How do I submit an innovation for consideration?
Can I invest in your company or in innovations?