CLEVELAND, May 22, 2014 /PRNewswire-USNewswire/ -- SPR Therapeutics, a Cleveland-based medical device company, has been recognized as a Red Herring Top 100 award winner. The Red Herring Top 100 North America award goes to 100 outstanding entrepreneurs and promising companies from among the approximately 3,000 tech startups financed each year in North America.
Red Herring's editorial staff evaluated companies on both quantitative and qualitative criteria, such as financial performance, technological innovation and intellectual property, management quality, business model, customer footprint and market penetration.
"In 2014, selecting the top 100 achievers was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the top 100 winners. We believe SPR Therapeutics embodies the vision, drive and innovation that define a successful entrepreneurial venture. SPR Therapeutics should be proud of its accomplishment, as the competition was very strong."
Maria Bennett, president and CEO of SPR Therapeutics said, "We are very pleased to have been recognized for our performance and potential as a Top 100 North America award winner. We are especially honored to be the only award recipient in Ohio and one of only two medical device companies in North America to have received this award. I'm very proud of our entire team and our accomplishments in commercializing a device therapy designed to improve the quality of life of millions of patients who suffer from pain."
About SPR® Therapeutics
SPR® Therapeutics (Stimulation for Pain Relief) is a medical device company that has developed a revolutionary and proprietary peripheral nerve stimulation therapy platform that addresses the critical unmet need for less invasive, longer-lasting, cost-effective treatments for acute and chronic pain. SPR's technology platform is being developed to address a spectrum of pain indications affecting over 116 million Americans. The SPR PNS System uses a proprietary method of nerve stimulation to treat pain without requiring electrodes to be surgically implanted or placed in direct contact with peripheral nerves that carry the pain signal. SPR's Smartpatch PNS System is an investigational device that is limited by U.S. law to investigational use. SPR Therapeutics was formed in January 2010 as a portfolio company of NDI Medical, LLC. For more information, visit www.sprtherapeutics.com
SOURCE SPR Therapeutics