EP #431 - Greta Preatoni: How to Relieve Pain For Millions Worldwide
Aug 25, 2024
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Greta Preatoni, the innovative co-founder and CEO of Mynerva, discusses her groundbreaking work on a device designed to relieve neuropathic pain. She delves into the complexities of diabetic neuropathy and the risks associated with traditional opioid treatments. Greta shares insights on developing brain-computer interfaces and the importance of a strong patent strategy for MedTech startups. She also highlights the challenges of navigating health product regulations while emphasizing the potential of AI and electrical stimulation in improving patient care.
Greta Preatoni's startup, Mynerva, offers a groundbreaking non-invasive device designed to relieve diabetic neuropathy pain while restoring sensation.
The podcast emphasizes the importance of understanding market needs and regulatory challenges when launching medtech innovations, especially in the U.S.
Deep dives
Embracing Fear in Decision-Making
Choosing paths that invoke fear can lead to significant personal and professional growth. The speaker advocates for facing challenges head-on, suggesting that the decisions tied to fears often yield the most valuable experiences. This philosophy has guided the speaker in their journey, encouraging them to choose opportunities that seem intimidating. Embracing such fear can be transformative in shaping one's career trajectory.
Transitioning from Academia to Entrepreneurship
The speaker, having a strong background in neuroengineering, decided to move beyond academia to create tangible solutions for patients. This desire stemmed from a passion for translating complex research into real-world applications rather than continuing a purely academic path. To achieve this, the speaker emphasizes the importance of early market consideration while developing new technologies. This focus ensures that innovations align with market needs, potentially increasing their chances of commercial success.
Innovative Approaches to Diabetic Neuropathy
Diabetic neuropathy, a painful and debilitating condition affecting millions, is the focus of a groundbreaking wearable solution developed by the speaker's startup. The proposed device functions like a sock that utilizes noninvasive electrical stimulation to restore sensation and reduce pain in patients. Unlike existing treatments, this innovation aims to address both the loss of sensation and chronic pain without requiring surgical procedures. The product's design is tailored to enhance patient compliance, making it easier for users to integrate into their daily lives.
Navigating Market Entry and Funding Strategies
Expanding into the U.S. market requires a nuanced understanding of cultural and regulatory differences, particularly concerning reimbursement processes. The speaker outlines strategies for approaching funding, emphasizing the value of non-dilutive sources initially for startups. Building strong partnerships with experts in the medical field can facilitate smoother market entry and better product positioning. As they prepare for U.S. expansion, the speaker highlights the importance of networking and understanding local needs to successfully position their innovation.
Greta Preatoni is the co-founder and CEO of Mynerva, a startup developing a groundbreaking device for the treatment of neuropathy. She holds a PhD in Neuroengineering from ETH and started Mynerva in 2023, as soon as she finished her studies.
Neuropathy in general is a condition which causes both loss of sensation in the nerves and, paradoxically, chronic pain. It can be caused by diabetes, chemotherapy and even by COVID. Most of Mynerva’s patients are diabetics, who before accessing their solution were forced to rely on opioids with severe side effects. Despite relieving pain, the drugs also increased the likelihood of falls (from lack of sensation in the patient’s foot soles).
The Mynerva team created Leia, a peerless non-invasive device with a sensorized insole that captures the information from the foot-ground interaction and translates it into electrical impulses delivered on the skin. The optimally designed electrode placement and shape, together with AI-based algorithms, are able to directly target the nerves and reduce neuropathic pain. All health-related parameters are collected by the sensorized insole and a wearable bracelet to drive data-driven individualized therapies.
At present, Mynerva is actively focusing on obtaining the necessary certifications for their medical device.