Metactive Medical, Inc. is an early-stage company focused on developing embolization devices for the treatment of peripheral vascular and neurovascular diseases. Metactive was initially founded in 2012 as a subsidiary of Novita Therapeutics, LLC, a privately held medical device incubator founded by William P. Whitaker, Esq., and F. Nicholas Franano, MD.
At the present time, the company has two products under development. Metactive's first product addresses the peripheral artery embolization market, where physicians perform about 180,000 procedures per year worldwide using vascular coils and plugs.
"Clinicians who perform peripheral embolization have been asking for an over-the-wire embolic device on a microcatheter platform that is easy to use and can provide immediate, complete, and durable occlusion," said Dr. Franano, Metactive CEO. "We believe we have built a product that meets those specifications and are moving forward to make it available to physicians who want it and patients who need it."
Metactive's second product addresses the cerebral aneurysm market, where physicians treat about 280,000 aneurysms per year worldwide using surgical clips, vascular coils, and flow diverting stents.
"Endovascular embolization of cerebral aneurysms with coils was a major advance when it was introduced more than twenty years ago," commented Dr. Franano. "The product we have developed at Metactive builds upon that innovation by providing a next-generation device that has the potential to be better for patients, faster and easier for physicians to use, and less expensive for payers."
"When managing life-threating situations, physicians need the best tools available to deal with the situation quickly and effectively," said Tom Krol, Managing Director at Kansas Bioscience Authority. "Metactive is developing new and highly effective devices to add to that the toolbox, ones we think physicians will reach for first in these situations."
Before founding Novita Therapeutics, Dr. Franano and Bill Whitaker were co-founders of Proteon Therapeutics, Inc., where Dr. Franano served as CEO from 2001 until he recruited his successor in 2006. He then served as Chief Scientific Officer until 2009. Dr. Franano continues to serve as a member of the Proteon Board of Directors.
Dr. Franano led the development of Proteon’s business plan and formulated the initial pre-clinical and clinical development plans for PRT-201. He also built out the company’s R&D capability and manufacturing platform, managed the company’s internal research efforts and intellectual property portfolio, and helped recruit the company’s current management team. As CEO, he raised $22 million in angel and venture capital financing and later as Chief Scientific Officer helped raise an additional $62 million of financing commitments.
Dr. Franano has used the entrepreneurial and funding skills honed during the funding and progression of Proteon to pursue success with Metactive Medical.