TECHPITCH 2012 WINNER
InPress Technologies is developing a medical device to treat postpartum hemorrhaging (PPH), or excessive bleeding after childbirth. PPH is the leading cause of maternal death worldwide, taking one woman’s life every 4 minutes. The InPress is the only single-use device designed to stop bleeding by stimulating the body’s natural response: uterine contraction.
InPress Technologies became a Cal Poly SBDC client in 2011. At this time they already had a proof-of-concept prototype and a provisional patent. The Cal Poly SBDC consultants helped with market research, business strategy, business plan development and IP strategy.
In October 2012, InPress Technologies competed at the 2nd Annual Techpitch of the Central Coast. They won first place. The team was beginning to look for funding options, and Techpitch opened the doors for them. The Cal Poly SBDC helped the company establish their capitalization table and prepare a Bridge Loan Financing Term Sheet, which laid the foundation for the company to raise over $1.2M.
InPress Technologies is making tremendous strides in getting their device approved for human use. In early 2013, InPress Technologies was accepted into the Fogarty Institute for Innovation in Mountain View, CA, but have maintained their headquarters in San Luis Obispo and have remained a Cal Poly SBDC client. They are in the process of obtaining their ISO Certification, which will allow InPress Technologies to become a certified medical device manufacturer. To become ISO Certified, the company will show that they have implemented and are following a quality system that meets International Standards, which is no easy feat.
Additionally, the team is in the midst of their First in Human clinical trial, a major milestone. InPress Technologies has three full-time employees and regularly works with 5 Independent Contractors.