Serial Entrepreneur on the Loose in Ohio

Entrepreneur and Home Office Resources

Serial Entrepreneur on the Loose in Ohio

Previous

Contents

Next

Gary Smith enjoys the challenge of starting and running a new business. Earlier this year he left his job as CEO at CleveX, a medical device manufacturer he ran from day one, and accepted an offer to build another startup from the beginning. He says he prefers the challenge and excitement of being the head of an early stage company.

He is now at the top of IR Diagnostyx Inc., a Columbus-based blood diagnostic company. IR Diagnostyx is a one-year-old company that was conceived by two Ohio State MBA students who are now helping develop and run the company along with Smith.

Considering that IR Diagnostyx started as a class project Smith believes they have made considerable progress. Utilizing $300,000 in startup capitol raised from TechColumbus, a state-funded incubator, IR Diagnostyx business focuses on four difficult to diagnose diseases. For now, however, the company will build around only one: interstitial cystitis.

Known more commonly as painful bladder syndrome, interstitial cystitis affects around one million Americans. Interstitial cystitis, whose patients are primarily women, has symptoms that range from lower abdominal pain to frequent urination. These symptoms resemble other conditions such as cancer or sexually transmitted diseases.

Using proprietary technology, IR Diagnostyx has performed a test for detecting the disease on over 100 patients. The results are very encouraging and the company will have discussions with the FDA leading to further tests and ultimately sales of their testing product.

IR Diagnostyx hopes to participate in the FDA's "De Novo" approval process that is designed to speed up approval time for medical devices that are judged low risk. This process of approval will require several years and, Smith estimates, an additional several million in capital.

His experience building medical startups, as well as raising investment capital, will prove to investors that he can take another Ohio company to market. The real question will be what this serial entrepreneur does after successfully building IR Diagnostyx.

You can talk about... Serial Entrepreneur on the Loose in Ohio

Tags: • investment • investors • fda • technology • incubator • mba • columbus • startup • manufacturer • medical • low risk • investment capital • medical device • ohio • entrepreneur •

• Finally, an Incubator That Actually Might Work (incubators)
• Oklahoma Entrepreneur Says Capital Funding a Challenge (business finance)
• Maryland Plans Inaugural Entrepreneur Event (business development)
• Journalism Entrepreneurs Go Digital at Arizona State (digital age)
• More related articles for Journalism Entrepreneurs Go Digital at Arizona State

Previous

Contents

Next

• <a href="http://article-library.office1000.org">Entrepreneur and Home Office Resources</a>
• <a href="http://article-library.office1000.org/business_startups">Serial Entrepreneur on the Loose in Ohio (business startups); Entrepreneur and Home Office Resources </a>

Privacy & DMCA Policy -- Sitemap
business startups Serial Entrepreneur on the Loose in Ohio