ST AND AFFILIATES CLOSE SALE OF IMTHERA

Spencer Trask & Co. and its Affiliated Investors Close the Sale of ImThera Medical, Inc.

OLD GREENWICH, Conn./PRNewswire/ — Spencer Trask & Co., a privately held advanced technology development firm, is pleased to announce the sale of ImThera Medical, Inc. (“ImThera”), a privately owned company focused on neurostimulation for the treatment of obstructive sleep apnea (“OSA”). The company was purchased by LivaNova PLC, a market-leading, medical technology company, as part of a transaction valued at approximately $225 million. Spencer Trask & Co. co-founded ImThera with Marcello Lima in keeping with the company’s long tradition of helping develop innovative healthcare solutions that treat important medical conditions.

ImThera designed and developed a non-drug therapy for OSA that cyclically and continuously stimulates six muscles of the tongue via an implantable device. This therapy received its European CE mark in March 2012 and is currently being tested as part of a 141 patient Phase III clinical trial in the U.S. Led by Alan R. Schwartz, MD at Johns Hopkins University, the clinical trial is expected to be completed by March 2018.

“This transaction with LivaNova accelerates the ImThera mission of providing its life-changing therapy to the millions of Americans who are living with obstructive sleep apnea,” said Spencer Trask & Co. Chairman Kevin Kimberlin.

The Centers for Disease Control and Prevention identifies insufficient sleep as a “public health epidemic,” noting that one third of U.S. adults report that they usually get less than the recommended amount of sleep. Victims of OSA stop breathing during the night, sometimes several hundred times. This often undiagnosed condition is a major contributor to neurocognitive, metabolic and cardiovascular disease and may affect as many as 25 million Americans.

ImThera developed a programmable chip which stimulates the hypoglossal nerve that supplies the muscles of the tongue with signals from the brain. By so doing, the ImThera implant keeps the air passageway open throughout the night.

According to a retrospective study published in the Journal of Thoracic Disease (Feb. 2016), individuals suffering from OSA face between a 35% and 85% higher mortality rate compared to healthy people. Approximately 50% of those with sleep apnea suffer from hypertension, a contributing factor in the approximately 38,000 annual cardiovascular deaths (high blood pressure, hypertension, stroke) attributed to the disease.

Kimberlin added, “This is a prime example of the Spencer Trask & Co. mission in action, transforming the standard of care for conditions that affect millions of people.” Spencer Trask & Co. is known for discovering and bringing to market technical solutions that improve the human condition.

About ImThera Medical, Inc.

ImThera Medical is a global leader in neurostimulation for the treatment of obstructive sleep apnea. Headquartered in San Diego, ImThera was founded to improve the lives of patients suffering from the debilitating effects of OSA. ImThera’s sleep therapy product is comprised of an implanted small generator and multi-channel electrode lead, along with an external handheld remote control that can start, stop or pause therapy. ImThera collaborates with the world’s top scientists and medical experts in sleep medicine, and its product is commercially available in several countries outside the United States.

About LivaNova

LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova’s advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London and with a presence in more than 100 countries worldwide, the company employs more than 4,500 employees. LivaNova operates as three business franchises: Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management, with operating headquarters in Mirandola (Italy), Houston (U.S.A.) and Clamart (France), respectively.

About Spencer Trask & Co.

Spencer Trask & Co. is a privately held advanced technology development firm that helps entrepreneurs, CEOs and corporate partners start and grow high impact ventures that are changing the world. The company has been instrumental in helping companies pioneer many technological and scientific advancements in the fields of genomics, healthcare technology, mobile technology, the Internet and Open Innovation. Please visit www.spencertraskco.com for more information.

CHAIRMAN GIVES TALK ON SMARTPHONE ORIGIN

Spencer Trask & Co Chairman Kevin Kimberlin Gives Presentation on the Origin of First Pocket Sized Cell Phone

OLD GREENWICH, Conn., PRNewswire/ — Spencer Trask & Co., a privately held advanced technology development firm, today released a presentation that its Chairman Kevin Kimberlin gave in conjunction with this year’s Mobile World Congress Americas event in held San Francisco.

As the new iPhone X was being unveiled in nearby Cupertino, Kevin Kimberlin spoke about “some of the shoulders Steve Jobs stood on” when launching the iPhone, considered by many to be the most popular consumer product ever introduced.

Kimberlin detailed his experience working with Millicom and Jan Stenbeck to make practical two tipping points that launched the smartphone revolution: the pocket-sized portable cellular phone–which set a standard for the shape, form and size of mobile phones for 30 years– and the first cellular network to carry data via text message.

“When I discovered Millicom in 1982 and saw the mocked-up prototype of a consumer-friendly, portable cellular phone, I calculated the market need,” said Kimberlin. “People may not realize that only approximately 8% of the people in the world had a landline telephone in 1982; that’s why I saw the cell phone as the phone for the rest of the world.”

The full video and transcript of Kimberlin’s presentation are available online at www.smartphoneorigin.com.

Kimberlin also participated in a panel discussion at Mobile World Congress Americas where he discussed the evolution of mobile technology and the future of IOT.

About Spencer Trask & Co.

Spencer Trask & Co. is a privately held advanced technology development firm helping entrepreneurs, CEOs and corporate partners start and grow high impact ventures that change the world. The company has been instrumental in helping companies pioneer many technological and scientific advancements in the fields of genomics, healthcare technology, mobile technology, the Internet and Open Innovation. Please visit www.spencertraskco.com for more information.

ST CHAIRMAN AT MOBILE WORLD CONGRESS

OLD GREENWICH, CT (Sept. 11, 2017) – Spencer Trask & Co., a leading business and technology development firm, today announced its chairman Kevin Kimberlin was invited to participate in a panel discussion at Mobile World Congress Americas. Taking place at San Francisco’s Moscone Center (Moscone North, M2M Zone) on Sept. 12, 2017, the panel begins at 4:30 p.m. PT and will focus on mobile connectivity and the future of IoT.

Moderated by Mobile Workforce GM Americas and noted IoT expert Stewart Skomra, the panel discussion will cover the evolution of mobile technology, future trends in the mobile space and how IoT represents the next great wave of what mobile makes possible in our lives. Skomra is joined by Kimberlin, a serial entrepreneur and mobile technology pioneer who helped launch Millicom, and Keith McMillen, CEO of BeBop Sensors, the leader in smart fabric sensor technology. McMillen’s proprietary technology turns any fabric, clothing or vehicle interior into a mobile-connectable sensor device.

Kimberlin and McMillen will share their unique insights on the acceleration of connectivity from the early days of mobile communications to the industrial IoT of today, including the adoption of connected wearables.

Mobile World Congress Americas, produced by the GSMA in partnership with CTIA, is being held September 12-14 in San Francisco and consists of a conference program featuring C-level speakers and leading industry experts. An estimated 30,000 people are expected to attend the event.

About Spencer Trask & Co.

Spencer Trask & Co. is a leading business and technology development firm that helps entrepreneurs, CEOs and corporate partners start and grow high impact ventures that change the world. The company has been instrumental in the formative stage of companies that pioneered many technological and scientific advancements in the fields of genomics, healthcare technology, mobile technology, the Internet and Open Innovation. Please visit www.spencertraskco.com for more information.

About GSMA

The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with 300 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organizations in adjacent industry sectors. The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series. Please visit www.gsma.com for additional information.

DLF TO HONOR SPENCER TRASK & CO. CHAIRMAN

GREENWICH, Conn., PRNewswire/ — Spencer Trask & Co. an advanced technology development firm, today announced its Chairman Kevin Kimberlin, along with his wife Joni, will be presented with the “Lifetime in Service for Peace” award on Mon., June 5 by the David Lynch Foundation during a fundraising event held at The John F. Kennedy Center for the Performing Arts in Washington, D.C.

The David Lynch Foundation was established in 2005 to fund the implementation of scientifically proven stress reducing modalities including Transcendental Meditation, for at-risk populations who are attempting to overcome trauma, including underserved inner city students; veterans with PTSD and their families; and women and girls who have been victims of violence.

The June 5 event, “A National Night of Laughter and Song,” is presented by The Center for Health and Wellness of the David Lynch Foundation, and proceeds from the evening will be used to teach meditation to 10,000 at-risk youth and veterans in the greater Washington, D.C. area.

“Joni and Kevin Kimberlin have enabled DLF to impact thousands of lives,” said Bob Roth, Chief Executive Officer of the David Lynch Foundation. “The ripple effect of their support is carrying our mission of world peace forward.”

Mr. and Mrs. Kimberlin are longtime supporters of the David Lynch Foundation and being recognized for their “dedication and service to educating and elevating the community, the nation, and the world family.” Joni Kimberlin, a 38-year practitioner of Transcendental Meditation, serves as a member of the nonprofit organization’s board of directors.

“We are deeply honored to receive this award and proud to support the important work of the David Lynch Foundation,” said Mr. Kimberlin, who has been practicing Transcendental Meditation for four decades. “As practitioners, Joni and I know the power of TM and it’s our pleasure to help further the Foundation’s mission.”

The one-night only event will feature appearances by Jerry Seinfeld, Jay Leno, Katie Couric, Margaret Cho, Deborra-lee Furness, Ben Folds, Angelique Kidjo, Sharon Isbin, Kesha, and Hugh Jackman. Tickets are available at the Kennedy Center Box Office, by phone at 202.467.4600 and at www.kennedy-center.org.

About The David Lynch Foundation
The David Lynch Foundation, a 501(c)(3) organization, was established in 2005 to fund the implementation of scientifically proven stress reducing modalities including Transcendental Meditation, for at risk populations such as underserved inner city students; veterans with PTSD and their families; women and girls who have been victims of violence, rape, and abuse, American Indians suffering from diabetes and high suicide rates; homeless adults and teens participating in reentry programs; and incarcerated adults and juveniles. For more information, visit www.davidlynchfoundation.org.

About Spencer Trask & Co.
Spencer Trask & Co. is an advanced technology development firm that helps entrepreneurs, CEOs and corporate partners start and grow high impact ventures that change the world. Spencer Trask & Co. has been instrumental in the formative stage of companies that pioneered many technological and scientific advancements in the field of genomics, the transformation of healthcare, the Internet and Open Innovation.

ST RECOGNIZES 100 YEAR ANNIVERSARY

GREENWICH, Conn., PRNewswire/ — Spencer Trask & Co., a privately held advanced technology company, is recognizing the 100 year anniversary of Albert Einstein’s publication of his paper on quantum theory of radiation with a contribution to the Institute for Advanced Study, where Einstein served as a professor from 1935-1955. Spencer Trask Chairman Kevin Kimberlin helped achieve Einstein’s vision of harnessing the power of light as the co-founder of Ciena.

On March 3, 1917, Einstein postulated how light can result from stimulating excited atoms. As proven by Gordon Gould 60 years later, this “light amplification by stimulated emission of radiation” would give way to the invention of the Laser and Optical Amplifier, which are the two foundational elements of the optical communications networks which transport much of the global Internet traffic.

Gould would go on to start the fiber optic communications company Optelecom. His protege and head of Optelecom’s Light Optics Division, Dr. David Huber, began working on a new technology called Dense Wavelength Division Multiplexing.

“I first met Huber in the early ’90s at Optelecom, where he demonstrated his light-based communication system,” said Kevin Kimberlin, Chairman of Spencer Trask & Co. “Impressed, I offered to help him develop the system. Together, we founded a new company called Ciena, which was the first to commercialize high capacity optical networking systems based on the optical amplifier,” Kimberlin explained. This was the beginning of the internet as we know and use it today.

 

About Spencer Trask & Company

Spencer Trask & Co. is a privately held advanced technology development company. The firm works with entrepreneurs, CEOs and corporate partners to start and grow high impact ventures. Spencer Trask & Co. has been instrumental in the formative stage of companies that pioneered many technological and scientific advancements in the field of genomics, the transformation of healthcare, the Internet and open innovation.

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