In the dynamic entrepreneurial landscape of Dayton, Ohio, RAM Medical Innovations stands out as a prime example of vision, innovation, and sheer determination. Founded by Mubin Syed, a highly experienced interventional radiologist and neuroradiologist with 28 years of medical practice under his belt, RAM Medical Innovations has not only weathered the challenging startup phase but has become a genuine success story in the competitive field of medical technology.
Syed’s journey began with a recurrent dream, a powerful vision that would eventually lead to the birth of RAM Medical Innovations. This dream followed a disastrous complication in a patient, fueling Syed’s determination to create a solution that could prevent such tragedies in the future. “I submitted a patent application, worked on a prototype, and trialed it in a cadaver lab. I was able to form a startup company based on this,” said Syed.
The realization that Syed had a groundbreaking idea on his hands came at significant milestones in RAM Medical Innovations’ journey. “Getting FDA 510(k) clearance for one of our devices in 2019 was a turning point. It was a validation of the potential impact of our work.”
However, it was in 2021 that the spotlight truly shone on RAM Medical Innovations. The company secured an impressive National Institutes of Health (NIH) grant of $1.7 million for their carotid/neurovascular device. This grant not only validated the importance of their work but also provided the necessary resources to drive their research and development further.
In early 2023, RAM Medical Innovations achieved a significant milestone by successfully demonstrating their device in the hands of an internationally renowned interventional cardiologist in five human patients outside the United States. The outcomes surpassed all expectations, as the device safely restored circulation in all five patients who were facing amputation and deemed inoperable by traditional surgical means.
Adding to their list of accomplishments, RAM Medical Innovations was honored to be chosen by the NIH as one of only eight companies to present at the prestigious Innovation Showcase during the International Stroke Conference in February 2024.
Like any startup, RAM Medical Innovations also faced its fair share of challenges. Syed shares some valuable lessons learned along the way:
- Raise More Money: Funding is a constant challenge, and it’s essential to secure more resources than initially anticipated.
- Expect Complexity: The journey of developing medical devices is intricate and time-consuming. Being prepared for unexpected complications is crucial.
- Adaptability: External circumstances, such as the COVID-19 pandemic, supply chain disruptions, and workforce issues, require flexibility and contingency plans.
- Experience Matters: Bringing experienced individuals on board is vital, especially in specialized areas.
- Validation: Thoroughly validate your idea by consulting key stakeholders, including physicians, distributors, hospitals, and medical device companies.
Today, RAM Medical Innovations is focused on achieving FDA regulatory clearance and launching their device designed to restore blood flow to the legs, a critical step in preventing amputations. Simultaneously, they are engaged in preclinical testing for their neurovascular device aimed at reversing and preventing strokes.
Looking ahead, RAM Medical Innovations aims to make a significant difference in healthcare by preventing strokes, amputations, and reversing heart attacks. Their commitment to improving patient outcomes and revolutionizing medical technology remains steadfast.
As a client of the Entrepreneurs’ Center (EC), RAM Medical Innovations found invaluable support that significantly contributed to their success, particularly in connecting with consultants and advisors during critical fundraising phases. According to Syed, “The EC not only provided essential resources but also facilitated access to a valuable network, offering great mentorship and support that can be especially challenging for small startups.”
Whether you’re in the early stages of your startup or scaling, the EC offers a wealth of resources and mentorship to guide your journey.
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