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The CID4 Report Vol. I No. I The CID4 Report Vol. I No. I (2765 KB)

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Sophono Named Colorado Company to Watch Finalist

(Monday, April 09, 2012)
Congratulations to Sophono for being named a 2012 Colorado Company to Watch, Finalist, by the Colorado Office of Economic Development & International Trade. The Boulder-based, commercial-stage medical device company is focused on abutment-free bone anchored conduction hearing devices. Learn more about the great strides Sophono is making [HERE]. 

CID4 is pleased to see its partnership with Sophono progress as we continue to execute upon our mission to advance the Colorado bioscience ecosystem through company creation and job growth. The Sophono team, led by CEO Jim Kasic, is driving the economic development of Colorado while bringing to market critical advances in and new options for those suffering from hearing loss. Since CID4’s original participation, Sophono raised significant investment capital, received FDA clearance to market their Alpha1(m) device, increased full-time hires and evolved from a development-stage to commercial entity with the initiation of product sales. 

Colorado Companies to Watch energizes the state of Colorado by recognizing companies that are developing valuable products and services, creating quality jobs, enriching communities and creating new industries throughout the state. These companies fuel the economic fire of Colorado by accounting for much of the economic growth and economic independence of individuals throughout the state. In order to be eligible for nomination these companies must possess attributes such as: being privately-held, Colorado headquartered, growth focused, with 6-99 full-time equivalent employees, have sales of $750,000 to $50 million, and demonstrate the intent and capacity to grow based on evidence such as: employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable factor(s) that showcase the company’s success. 

This unique awards program produces a multitude of benefits for all stakeholders. Participating companies have the opportunity to gain increased visibility in local and state communities as well as to improve stakeholder relationships and contribute to a dynamic business environment. Citizens have increased access to rewarding income opportunities and are able to build pride in innovative and valuable entrepreneurial companies, and the state of Colorado is able to showcase trend-setting leaders in diverse entrepreneurial fields that strengthen the state's economy. 

You are cordially invited to attend the 4th Annual, Colorado Companies to Watch Gala Awards Dinner, Friday 22 June at the Denver Marriott City Center. Additional details and purchase tickets [HERE].
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Portfolio Company Sophono Receives FDA Clearance

(Monday, August 08, 2011)

For those working in an early-stage life science entity, priorities are most commonly linked to demonstrating proof-of-concept, architecting a blueprint that can get a potential product into the clinic, and figuring out how to finance the lengthy risk-laden process. Many initially promising products never make it through the clinical and regulatory processes. Once a product has been reviewed and finally cleared by the regulatory agency it is certainly cause for celebration - that celebration however is short-lived as it is critical to rapidly change focus from a development organization to a commercial-stage going concern. 

Today we wish to pause for that scarce and brief celebration opportunity for CID4 portfolio company, Boulder, CO-based Sophono, Inc., which recently received FDA clearance for their new abutment-free bone conduction hearing device. The Otomag Alpha 1(M) product is a treatment for hearing disorders such as conductive and mixed hearing loss as well as single sided deafness. The Alpha 1(M) differs from currently available implanted bone conduction hearing devices by incorporating a unique magnetic coupling. The Otomag system does not require an abutment (a titanium screw protruding out of the side of the head) or permanent hair removal, nor is the associated daily hygiene routine required by an abutment necessary. Thus the Alpha 1(M) may significantly reduce complications commonly associated with current bone anchored hearing devices. 

According to the National Institute on Deafness and Other Communication Disorders, the U.S. has approximately 36 million adults who report some degree of hearing loss, and of these individuals only 1 out of every 5 people who may benefit from a hearing device actually wear one. 

To learn more about the Otomag Alpha 1(M) system the brochure is available HERE, or visit the Company online at Sophono.com. 

So, a hearty congratulations to the Sophono team for achieving a milestone that many set out to attain, though in reality and for a broad spectrum of reasons, very few can or do. The Sophono team has worked tirelessly to achieve its first FDA cleared product. Now it is time to roll-up your sleeves and apply the same laser focus to getting the Alpha 1(M) out into the world where it can make a real difference in the lives of those who suffer from hearing loss.

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