SAN DIEGO, July 5, 2016 /PRNewswire/ -- San Diego Mayor Kevin Faulconer and World Trade Center San Diego have announced that AVACEN Medical has been selected to take part in the MetroConnect Program, a comprehensive export support program run by the World Trade Center San Diego. The Program is designed to help San Diego companies accelerate their global growth.
AVACEN Medical will have access to a dedicated trade and investment manager at World Trade Center San Diego and will receive guidance on export compliance, financing and fundraising and global marketing, amongst other areas of relevance. The company received a $10,000 grant, presented by JPMorgan Chase, to assist with international expansion strategies. They will also be considered for the MetroConnect Grand Prize Pitchfest in November 2016, which will provide an additional $35,000.
According to AVACEN Medical CEO Thomas Muehlbauer, "We are very pleased to receive the grant, but even more enthusiastic about having direct access to the high value resources of the World Trade Center." Muehlbauer continued, "Our FDA-cleared Class II medical device, the AVACEN 100, is a unique product that is designed to address the drug-free treatment of chronic pain. With a total available market of 500 million homes worldwide and the intense international fight against opioid addiction, the timing of this award for our company couldn't be better!"
The MetroConnect Program, a flagship initiative of World Trade Center San Diego, seeks to cultivate a pipeline of export-ready firms to elevate San Diego's global reach. The Program is underwritten by JPMorgan Chase & Co, with additional support provided by Japan Airlines, Qualcomm Ventures, SYSTRAN and Taylor Guitars.
"We applaud AVACEN Medical for taking the next step in going global," said Nikia Clarke, executive director of World Trade Center San Diego. "The MetroConnect Program is essentially a business accelerator program for globally-minded companies. The funding and guidance provided by their selection will help AVACEN Medical explore new world markets, resulting in economic growth for San Diego."
In total, 73 San Diego companies applied for acceptance into the MetroConnect Program. Fifteen companies were selected based on a variety of criteria, including interest in new markets, interest in targeted metro markets, assessed impact of funds, current international traction and more. Applicants were assessed by a panel of judges, including representatives from Applied Membranes, Biocom, Qualcomm Ventures, San Diego Regional EDC, San Diego State University, Taylor Guitars, Tech San Diego, U.S. Department of Commerce, UC San Diego and World Trade Center San Diego.
About World Trade Center San Diego
World Trade Center San Diego operates as an affiliate of San Diego Regional Economic Development Corporation. WTC San Diego works to further San Diego's global competitiveness by building an export pipeline, attracting and retaining foreign investment, and increasing San Diego's global profile abroad. sandiegobusiness.org/wtcsd
AVACEN Medical is dedicated to the innovation and design of safe, easy to use, noninvasive drug-free alternatives for the palliative management of pain associated with numerous chronic and acute conditions including the temporary relief of minor muscle and joint pain and stiffness associated with arthritis and potentially other conditions that can cause joint pain, such as CRPS, Fibromyalgia, and Lyme Disease. Founded in 2009, AVACEN is headquartered in San Diego. Contact: Ryan Jeffcoat at (888) 428-2236 x 711 or email.
About AVACEN 100 Patents
The US Patent Office has issued 3 Patents to AVACEN which include apparatus claims directed to features of the Heat Therapy apparatus manufactured by AVACEN and method claims directed to specific methods of use, referred to by the company as the AVACEN Treatment Method. The patent also covers innovations embodied in the AVACEN 100 system, which is expected to allow multiple therapeutic uses to alleviate symptoms associated with a circulatory, neurological, lymphatic, or endocrinal dysfunction, or any combination thereof.
Patents have also been issued for China, Australia, Japan, UK, France, Germany, Spain and Sweden. Patents are pending in India, Hong Kong and Canada.
IMPORTANT NOTE: The AVACEN 100 is FDA-cleared for the temporary relief of joint pain associated with arthritis; muscle spasms; minor strains and sprains; and muscular relaxation. It is not available for sale in the U.S. or globally for any non-cleared indication mentioned in this document.