Elementa Labs: 2022 in ReviewJanuary 25, 2023
Take a look at the exciting updates from the past year of Elementa Labs!
In 2022, MSIP witnessed the growth of several Elementa portfolio companies from its first two cohorts: the inaugural Fall 2021 and Spring 2022. These companies have continued to demonstrate their determination in advancing to reach milestones, despite market conditions and other adversities. Subsequently, many of these companies have raised financing rounds, created new partnerships, and gained new customers.
Elementa Labs has accepted four companies into the Winter 2023 cohort, three of which are led by female founders. These companies are pursuing a variety of impactful solutions, from traditional areas including infectious disease diagnostics and mental health solutions, to ‘outside the box’ areas such as healthcare operation enhancement. This cohort includes some of the earliest stage companies that Elementa has accepted so far.
We look forward to continuing to work with our portfolio companies as they advance in their journey. Stay updated on these companies by signing up for The Innovation Exchange, MSIP’s newsletter.
Portfolio Company Highlights (Previous Cohorts):
- AvoMD (Cohort: Fall 2021)
- Description: Developed a platform to transform clinical content (such as guidelines and pathways) into digital, expert guidance at the point-of-care.
- Traction: Completed its $4.7 million Series Seed Round led by AlleyCorp. Other notable investors include Epsilon Health Investors, Las Olas, Kavita Patel, MD (lead digital health partner at NEA), and Akhil Saklecha, MD. Their software is available on standalone web, mobile apps, and in the EHR (now live on Epic’s App Orchard).
- Curio Digital Therapeutics (Cohort: Fall 2021)
- Description: Developing digital therapeutics geared towards women’s behavioral health.
- Traction: Completing a Series A Round. Initiated their Clinical Trial for their Postpartum Depression product at Mount Sinai. Recognized as the 2022 Venture of the Year by VentureFuel, and won the New Jersey government grant for Maternal mental health.
- Empo Health (Cohort: Spring 2022)
- Description:Using an in-home imaging bathroom scale and remote patient monitoring platform to eliminate the severe diabetic foot ulcers suffered by 1 in 4 patients with diabetes, by solving the problem of patient compliance and giving physicians reliable eyes outside the clinic.
- Traction: Raised $2.5 million in additional seed funding, led by Ulu Ventures. Other notable investors include SeaX Ventures and Rock Fish Ventures. Empo is holding the round open for oversubscriptions from angels and institutional investors: Empo Health Backgrounder.
- A.D.A.M. (Cohort: Spring 2022)
- Description: Developing an on-demand 3D printing platform for implantable devices.
- Traction: Signing of the Memorandum of Cooperation between A.D.A.M., the Ministry of Health of Ukraine and the Lviv Territorial Medical Association. Grant awards from Ukrainian World Congress and Global Ukraine Foundation. Collaboration agreement with Yale University.
Meet the Winter 2023 Cohort:
- Description: Smart training platform to support collaboration and streamline peer-to-peer knowledge sharing to accelerate digital transformation in healthcare organizations.
- Traction: Selected to AWS Impact Accelerator for Women Founders (Fall ’22); Selected to Techstars Workforce Development Accelerator (Spring ’23); Pilot with Thomas Jefferson Health (Digital Pathology and AI skilling).
- Description: Developing a mobile sepsis test that detects 20 pathogens and drug resistance biomarkers in 45 minutes without a culture.
- Traction: Raising their Series seed round of funding.
- Description: Developed a non-invasive wearable device designed to deliver tPBM (transcranial photobiomodulation) to autistic children to improve communication skills and reduce disruptive behaviors.
- Traction: Conducted two clinical trials, received FDA Breakthrough Device Designation, received National Science Foundation grant and has recently been financed by the Brain Foundation, BioVerge and New York Ventures, as part of their current Series Seed raise.
- Description: Creating an end-to-end bereavement platform to help families coordinate end of life services from the comfort of their homes.
- Traction: Served 50+ families since launching pilot. Post Revenue. Working towards adding new product features and partnerships.
Mount Sinai Champions and Stakeholders
Mount Sinai clinicians, investigators, administrators, and other stakeholders have generously participated as champions and key opinion leaders for the companies listed above. Each company is paired with a champion who develops potential collaborative projects and introduces the company to other key stakeholders at Mount Sinai. The involvement of the champions and stakeholders provides the company with insights into patient needs, hospital processes, regulatory paths, and more.
MSIP would like to thank all of our champions and stakeholders for their time and effort in working with participating companies and growing Elementa Labs!
- Aaron Patterson, MD, Associate Chief Medical Information Officer; Associate Professor, Psychiatry
- Abby Schwartz RN BSN MBA, Vice President, Network Development
- Alan Copperman, MD, Vice-Chairman, Obstetrics, Gynecology and Reproductive Sciences
- Allison Glasser, MBA, Senior Director Clinical Excellence
- Arshad Rahim, MD, MBA, FACP, Vice President, Clinical Integration, Network Development & Population Health
- Alfred Marc Iloreta, MD, Director, Endoscopic Skull Base Surgery, Otolaryngology Head and Neck Surgery
- Benjamin Rappaport, MD, Scientific Director, Mount Sinai BioDesign Program
- Brenden Carr, MD, System Chair Emergency Medicine
- Brian Nickerson, PhD, JD, Senior Associate Dean
- Bruce Darrow, MD, Chief Medical Information Officer
- Bryan Markinson, DPM, Chief, Podiatric Medicine and Surgery, Dept. of Orthopedic Surgery
- Chelsea Canon, MD, Fellow, Reproductive, Endocrinology & Infertility
- Daniel Katz, MD, Attending Physician, Dept. of Anesthesiology
- Dara J. Lundon, MD, MBA, PhD, Director, Clinical Trials & Innovation, Dept. of Urology
- Darryl Hollar, MS, MBA, Director, Digital and Technology Partners
- Denise Wang, Resident Physician
- Diana Kirke, MBBS MPhil FRACS, Assistant Professor, Otolaryngology Head and Neck Surgery
- Edith Meyerson, DMin, Associate Professor & Director of Pastoral Counseling and Behavioral Services
- Emily Chai, MD, Professor Geriatrics and Palliative Medicine
- Erik Lium, PhD, Chief Commercial Innovation Officer at Mount Sinai, and President of Mount Sinai Innovation Partners
- Kristin Myers, Chief Information Officer, Digital and Technology Partners
- Leesa Galatz, MD, Chair of Orthopedic Surgery
- Mahima Vijayaraghavan, MD, Assistant Professor of Medicine
- Manish Arora, PhD, Vice Chairman, Department of Environmental Medicine, and Public Health
- Michael Berger, MSBA, Vice President, Enterprise Data
- Muhammad Parvaz, PhD, Assistant Professor, Psychiatry & Neuroscience
- Nihir Patel, MD, Attending Physician, Dept. of Anesthesiology
- Ronald Tamler, MD, PhD, MBA, Director of Health Implementation
- Robert Fields, MD, Executive Vice President, Chief Population Health Officer
- Robbie Freeman, RN, System Vice President & Chief Nursing Informatics Officer
- Ricardo Somarriba, Associate Director, Digital and Technology Partners
- Vivek Reddy, MD, Professor, Cardiology; Director of Cardiac Arrhythmia Services