West Side Business News & Notes
Nervive Inc. to open operations in Akron Biomedical Corridor
DOWNTOWN AKRON — The Akron Development Corp., through its Akron BioInvestment Funds LLC, has announced that Nervive Inc., a biomedical company from Northern California, will consolidate various business units and open new headquarters in Akron at the Akron Global Business Accelerator or other Akron site.
Nervive has received Akron BioInvestment funding to commercialize its VitalFlow stimulator, a noninvasive medical device that increases blood flow to the brain as an emergency treatment for ischemic stroke patients, according to a city of Akron press release. The VitalFlow can treat stroke patients in the field or immediately upon a patient’s arrival at the hospital.
The Akron BioInvestment funding will help Nervive pursue product development and clinical testing of the VitalFlow.
Nervive is led by CEO Jerry Gibson, who has built a team of nine scientists and product designers. The company will pursue further product development work with local firms under the direction of Chief Technology Officer Subba Shankar, Ph.D., a Case Western Reserve University-trained biomedical engineer and neuroscientist with a background in medical device development. By 2015, according to city officials, Nervive expects to have the first clinical version of the VitalFlow ready for testing in stroke patients, which will be done through research collaboration with Ohio-based hospitals under the direction of Chief Medical Officer and VitalFlow inventor Dr. Mark Borsody, who is a stroke neurologist.
“Ohio is home to several world-class hospitals that are interested in the VitalFlow technology,” said Borsody, who studied medicine at The Ohio State University and the Cleveland Clinic. “We intend to first demonstrate the VitalFlow’s benefit in stroke patients right here in Akron.”
Stephanie Kist contributed to this report.
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