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Featured Startup- Snappening.com

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Featured Startup- Snappening.com


Today profile another Indy tech startup – Snappening.com.  Set to launch in the spring, Snappening.com will provide an comprehensive tool for for planning your own events.  What strikes me about Snappening in the profile below is how Crystal, Snappening.com’s founder and president, went to great lengths to research the site’s target market – something I think a lot of entreprenurs omit during the startup phase.  After you read the profile, make sure you sign up on Snappening.com – which also registers you for a chance to win a free iPad!  (details of our very own iPad giveaway will be announced soon).

Tell us about your startup…your words…whatever you want to say.

Snappening.com is about creating conversations and community surrounding the event experience. We do that via a comprehensive website that is capable of starting the process for anyone who is planning an event – be that a birthday party, corporate meeting, wedding function or non-profit gala. We designed the site with consumers in mind, so that it not only helped people with the process of planning, but also focused on helping planners and venues meet more consumers who were expressed interested in their services and facilities along the way. Through extensive market research, we isolated the set of experiences that mattered most to our users – easy functionality, comprehensive listings, easy comparison tools, quick methods to contact providers and dedicated research materials to help provide advice for a variety of event types. Snappening will house theses tools for quick, efficient and cost-effective event planning. Perfect events can now be a reality for anyone at anytime.

How did you come up with concept for your business, and how/when did the business model for that concept become clear?

Planning events and parties has become as straightforward to me as whipping up chocolate chip cookie batter is to Martha Stewart. I have always enjoyed organizing and hosting events – whether it was for work or for my family and friends. So it is easy to see that the concept for Snappening came out of my own work in and around event planning.

A few years ago a dear friend of mine was in the process of planning her wedding reception, and I offered her my help. I was able to navigate this process with a little effort, but that was mainly because I knew what I was doing and was familiar with the venues here in Indianapolis. I soon realized how daunting a task this could be for someone who wasn’t familiar with the industry or the local venues.

I spent some time researching venues online as my friend would have, and I soon realized that finding a comprehensive list of venues in Indianapolis was like searching for Bigfoot. Not to mention that surveying the venues and collecting proposals would take a newbie more hours (if not days) than the average time-pressed individual has to spend. I knew there had to be a better, faster and easier way for people (and venues) to connect the dots. (Not to mention the fact that professional planners were perhaps being left out of the equation altogether when their services could be an asset to some consumers who are either unfamiliar with or unsure about whether or not a planner may be right for them.)

And that’s how I came up with the idea for Snappening, a site that takes the burden off our shoulders so we can focus on what’s most important – making lasting memories with friends, family, colleagues and partners.

My business model became clear to me after my first round of research. I was left with a handful of options, none of which appeared to be designed with consumers and their needs in mind. That bugged me. It didn’t make sense that while the consumer was the one deciding on where to spend their money, it wasn’t easy for them to make this decision and navigate the 1,000+ choices this city has to offer.

Before we set out to build the site, we conducted a series of targeted focus groups and observational studies to ensure we did in fact understand what a wide variety of users wanted. We think we’ve accomplished that.

I enlisted a series of experts along the way to ensure we had a strong team who could focus on the most important elements of any good business. With the support of Beltrame Leffler Advertising for visuals, creative and advertising direction, Dittoe PR for all forms of media outreach, Cirrus ABS for technical design, functionality and SEO planning and Milestone Advisors for financial and strategic direction, I successfully identified the best ways to turn this business idea into a reality that will succeed, have a return on investment and provide an invaluable service for our community.

What made you first believe that starting a business is right for you (i.e. as opposed to working for someone else)?

Starting your own business can be a very intimidating idea, but ultimately, I have always realized my desire to be my own boss. I consider myself to be a self-starter and I have never walked away from a challenge.

Throughout my entire life I have approached everything with an entrepreneurial spirit. Whether I was working for an employer or spearheading a committee, I have always looked for ways to carve out my specific role and prove myself to be a valuable asset to my team.

I have always wanted to do something that would be of value to a large number of people. And I thoroughly enjoy making things easier for people. I’m keen on unraveling a problem and getting down to the root of the issues at hand. What do we need to solve? Who’s involved? What’s crucial? How do we fit in? How do we add value?

Additionally, I have always been interested in the social connections we make with others, and events. I think it’s been in my blood since about age eight when I set about organizing my own “surprise” birthday party. (The only people who were surprised were my parents!)

What challenges have you encountered?

In the beginning, you sometimes find yourself trying to do it all. I promptly learned that this mentality can burn an entrepreneur out very quickly and turn something you love deeply into something you find overwhelming.

I avoided this path by making investments in engaging professionals in a variety of disciplines very early on in our process, long before we were talking about brining a service to market. By surrounding myself with very smart, strategic and resourceful people, I have added to the overall strength of the business. I note these partners on my website and continue to promote the value they have added to Snappening.com. This has turned out to be a very wise investment that I would recommend to any entrepreneur starting their own business. You can produce far better results more rapidly with the collective brain trust of your team.

What sacrifices have you made to start you business?

Like most entrepreneurs, starting your business means carving out hours of your life that were once consumed by other things and dedicating them to your new-found endeavor. Finding a balance between work and other parts of your life (love, friends, family, etc.) is a difficult task – one that I work diligently to maintain and stabilize. I am fortunate that my internal meter for knowing “when to walk away” for the night is strong and steadfast. I use this often and it serves me well.

I’d be remiss without noting that in addition to building a business that helps the community, it is equally important to me that I follow a community leadership philosophy based on volunteer work and financial contributions. While Snappening.com consumes much of my attention, I continue to find time to participate in outside organizations that are important to our community and serve the foundation on which it is built.

In your opinion, what makes Indiana a great place to start your business?

Indiana is a wonderful state, full of interesting people and strong demographics. As a marketer, Indianapolis serves the purpose of “concept” testing very well and is ideal for an endeavor such as launching your own online business.

More specifically, the city of Indianapolis, has provided a great opportunity for profitability and growth for Snappening.com for a number of reasons, the first and foremost being its pending spotlight associated with the 2012 Super Bowl. While investment has slowed or stopped elsewhere in the country, the Indianapolis region continues to flourish to meet the demands of its industries. The ten-county region surrounding Indianapolis is literally “raising the game” with its high-profile event preparations.

The most noteworthy of these preparations being the multi-billion dollar investments in new event facilities such as the Indiana Convention Center’s expansion (moving Indy from the 32nd to 16th largest meeting facility option in the nation) and the construction of the new JW Marriott. Indianapolis has nowhere to go but up in our nation’s meeting and event industry profile, and we certainly want to be part of a collective effort to make this process the best it can be.

Being a Hoosier native myself, I couldn’t think of any other place I’d rather start that right here at home.

If you could give an entrepreneur looking to start a business one piece of advice…what would it be?

Take your brilliant idea and outline it on paper. This sounds like a simple task, but don’t underestimate its power. You will be amazed at how your idea will transform itself into a real possibility.

After you have jotted down your outline, dig into the details. See if you can answer the hard questions about market force, pricing, competition, sourcing, etc. These answers will turn this possibility into a reality.

The next step is to do your homework. Don’t assume that what you believe to be true always is. Ask around, survey the competition and get additional input from a trusted circle of advisors.

Push yourself. Force yourself to think about what you need to do in order to go from where you are today to where you want the business to take you. Can you make the leap in your mind? If so, keep plugging along. Use each week to become a little more serious about making it a reality.

The last (and best) bit of advice is to always believe in yourself. If you don’t, no one else will either.

Stat Sheet:  Snappening.com


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Should Founders Assign IP to Their Tech Startups?

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Should Founders Assign IP to Their Tech Startups?


Handing Over the KeysThe short answer is YES!

Lots of technology startups, internet startups and software startups I work with have typically developed some degree of intellectual property prior to actually organizing a business entity (corporation, LLC…etc). Sometimes that IP is very early stage, sometimes, especially in the case where a founder is a developer or engineer, the IP may be very far along in terms of development. Sometimes that IP may simply be a domain name. This may not seem like a big problem initially – but if the company ever wants to (a) enter into any significant contractual relationships relating directly or indirectly to the IP, (b) raise capital via private equity or debt, or (c) sell the business, not assigning the IP to the company can be a big problem. The other parties in the transactions mentioned in the previous sentence will require that the company represent that it owns the IP – and when it can’t make that representation (because it doesn’t) – those other parties will require that it be duly assigned by the founder to the company. What if the founder then demands a big payday? What if he walks – and takes the IP with him?

To prevent all of this and a litany of other problems, founders should assign to the company whatever IP they own / have developed that is related to the business of the company – and the assignment should be made upon inception when the first grant of stock is made to the founder. This may be done via a simple, broadly worded, IP assignment agreement.

Of course, this assignment should be coupled with other considerations, such as whether the business should hold it’s IP in an IP holding company, and how founders ownership will vest. Check back soon for posts on these topics.

As always, you should consult an attorney to help you with the matters discussed in this post.

Posted in Starting a BusinessComments Off on Should Founders Assign IP to Their Tech Startups?

myIndianaLLC.com – Form an Indiana LLC Online!

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myIndianaLLC.com – Form an Indiana LLC Online!


MyIndianaLLC - Logo1(bvp)Today I launched a new a couple of new websites, one of which is myIndianaLLC.com. Over the past year, a good deal of my solo legal practice has been driven by the various blogs and sites I maintain on the internet, including this one.  One thing I have learned is that not everyone that finds me wants a “traditional” experience with an attorney. They know what they want in terms of legal advice or documents. They want it quick, and they want it to be affordable. They don’t need or want to meet face to face. They don’t want to visit an office. They don’t want broad representation. Some of them need an LLC formed. Some of then need a power of attorney.

myIndianaLLC.com caters to the needs of these people. By using carefully designed, interactive questionnaires that help me quickly assemble documents, I am able to form and organize an Indiana Limited Liability Company at a fraction of the cost that some other attorneys charge. In fact, the prices on myIndianaLLC.com are right on par with non-attorney legal form sites such as LegalZoom.com. Keep in mind that LegalZoom.com is not an attorney and may not give you legal advice – I can.   Not to mention that myIndianaLLC.com will form your Indiana LLC and return all of your documents to you in either 1 or 3 business days, depending on which package you purchase.  You get an Indiana LLC, prepared online by an Indiana LLC Attorney.

So what do you get?

A single member LLC starts at $400.  A multiple member LLC starts at $600.  You get:

  • Articles of Organization that have been filed with the Indiana Secretary of State (the filing fee of $87 is included in your price!).
  • A Certificate of Organization from the Indiana Secretary of State.
  • A Single Member Operating Agreement.
  • Organizing Resolutions of the Members or Managers.
  • A Membership Interest Certificate, evidencing your ownership interest in your new Indiana LLC.
  • A memo with instructions on what to do with your documents, how to apply for an EIN, various state reporting requirements, and advice regarding how to maintain the limited liability protections provided by your LLC.

How Does it work?

Follow a simple process to get started:

  1. Choose the Indiana LLC package you would like to purchase.
  2. Register for an account (subject to terms of use).
  3. Purchase your Indiana LLC package.
  4. Fill out our easy online questionnaire

Once you complete the questionnaire, the documents associated with your Indiana LLC will be generated and sent to experienced LLC attorney Brian V. Powers for review.  We will review them, follow up with any questions, file the appropriate documents with the Indiana Secretary of State, and when everything has been completed, we upload your completed documents to the site where they will be available for your download.

Why are online legal services fast and affordable?
Its the technology of course!  By using the latest in online document automation technology, your documents are prepared quickly without the need to a paralegal or legal secretary to key in your information.  Our technology is smart too – it knows how to assemble your document based on the answer you provide.  Answers are collected online.  Payments are collected online.  Documents and advice are delivered online (and by phone from time to time).  Most lawyers waste a lot of time and money on expensive offices, unnecessary staff & overhead, and client meetings.  Not here.  We focus on you and your legal needs – which saves you time and money!

Why are online legal services fast and affordable?

Its the technology of course!  By using the latest in online document automation technology, your LLC documents are prepared quickly without the need to have a paralegal or legal secretary to key in your information.  Our technology is smart too – it knows how to assemble your document based on the answer you provide.  Answers are collected online.  Payments are collected online.  Documents and advice are delivered online (and by phone from time to time).  Most lawyers waste a lot of time and money on expensive offices, unnecessary staff & overhead, and client meetings.  Not here.  We focus on you and your legal needs and organizing your Indiana LLC – which saves you time and money!

Compare Us to Others – A Licensed Attorney vs Legal Forms Providers

applesorangesI challenge you to find a better value anywhere. In fact, here is a link to the “leading” online document-preparation service: LegalZoom(tm).  I put that link there hoping you will click on it, and knowing that you’ll be back.  I spend a lot of time fixing the mistakes they, and other non-attorney document preparation services, make.  The advantage of using us – you’ll have the advantage of a real lawyer personally preparing your LLC documents and forming your Indiana limited liability company, instead of some non-attorney clerk on the other side of the country.

Posted in Limited Liability Companies (LLC), Starting a BusinessComments Off on myIndianaLLC.com – Form an Indiana LLC Online!

Free Software For Bloomington Based Tech Start-Ups!

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Free Software For Bloomington Based Tech Start-Ups!


logo_btpSome great news for Bloomington, Ind software and technology start-ups – the Bloomington Technology Partnership recently joined the BizSpark program, which provides certain software technology companies with three years of free Microsoft software, including Microsoft Windows Server, Microsoft Office SharePoint Portal Server, Visual Studio, SQL Server and more!  To be eligible for the BizSpark program, start-up companies must be:

  • privately held
  • have a software-based product or service at the core of their current or future business
  • be in business for less than three years
  • earn less than $1 million in annual revenue.

The entire press release follows:

Bloomington, Ind. — The Bloomington Technology Partnership announced today that they have joined BizSpark, an international program that provides software technology startup companies with three years of free Microsoft software.
“We are very excited to help bring cost savings to our local start up business community,” said Jeremy Sowders, Vice President of Business Development for the Bloomington Economic Development Corporation (BEDC) which manages the Bloomington Technology Partnership. “The BizSpark program by Microsoft is an innovative way to help companies during the critical early stages of development and for that reason we wanted to help make this resource available in Bloomington.”
The Bloomington Technology Partnership worked closely with the Indiana University Research & Technology Corporation (IURTC) to bring the BizSpark program to the Bloomington area. “The Microsoft BizSpark program fits right into our mission of helping fledgling start up ventures successfully transition into profitable entities.” added Tony Armstrong, President & CEO of the IURTC. “By sponsoring this program the Bloomington Technology Partnership strengthens the position of both the Bloomington area and Indiana University-Bloomington in today’s ultra competitive start up business environment.”
Microsoft programs available through BizSpark include Microsoft Windows Server, Microsoft Office SharePoint Portal Server, Visual Studio, SQL Server and more. To be eligible for the BizSpark program, startup companies must be privately held, have a software-based product or service at the core of their current or future business, be in business for less than three years, and earn less than $1 million in annual revenue. A company may take part in the program for up to three years unless it goes public or is acquired by another company. There are no initial fees to join the program, but $100 is due from the company when it exits the program.
Companies can solicit the Bloomington Technology Partnership to be their BizSpark sponsor by visiting the program’s web page at http://www.microsoft.com/bizspark/ and entering the section labeled “Startups.” After selecting the proper region, click on the Bloomington Technology Partnership as the sponsor organization.
About Bloomington Technology Partnership
The Bloomington Technology Partnership fosters the growth of Bloomington’s emerging high-tech economy. A public-private partnership established in 2008, it draws on the “best and brightest” to meet the needs of high-tech companies and their employees.
The Bloomington Technology Partnership is a program of the BEDC, a not-for-profit corporation funded through memberships from private industry, City of Bloomington, Monroe County, Indiana University and Ivy Tech Community College-Bloomington. The Bloomington Technology Partnership is funded in part by the City of Bloomington. For more information go to www.bloomingtontech.com
Source: Bloomington Economic Development Corp.

Bloomington, Ind. — The Bloomington Technology Partnership announced today that they have joined BizSpark, an international program that provides software technology startup companies with three years of free Microsoft software.

“We are very excited to help bring cost savings to our local start up business community,” said Jeremy Sowders, Vice President of Business Development for the Bloomington Economic Development Corporation (BEDC) which manages the Bloomington Technology Partnership. “The BizSpark program by Microsoft is an innovative way to help companies during the critical early stages of development and for that reason we wanted to help make this resource available in Bloomington.”

The Bloomington Technology Partnership worked closely with the Indiana University Research & Technology Corporation (IURTC) to bring the BizSpark program to the Bloomington area. “The Microsoft BizSpark program fits right into our mission of helping fledgling start up ventures successfully transition into profitable entities.” added Tony Armstrong, President & CEO of the IURTC. “By sponsoring this program the Bloomington Technology Partnership strengthens the position of both the Bloomington area and Indiana University-Bloomington in today’s ultra competitive start up business environment.”

Microsoft programs available through BizSpark include Microsoft Windows Server, Microsoft Office SharePoint Portal Server, Visual Studio, SQL Server and more. To be eligible for the BizSpark program, startup companies must be privately held, have a software-based product or service at the core of their current or future business, be in business for less than three years, and earn less than $1 million in annual revenue. A company may take part in the program for up to three years unless it goes public or is acquired by another company. There are no initial fees to join the program, but $100 is due from the company when it exits the program.

Companies can solicit the Bloomington Technology Partnership to be their BizSpark sponsor by visiting the program’s web page at http://www.microsoft.com/bizspark/ and entering the section labeled “Startups.” After selecting the proper region, click on the Bloomington Technology Partnership as the sponsor organization.

About Bloomington Technology Partnership

The Bloomington Technology Partnership fosters the growth of Bloomington’s emerging high-tech economy. A public-private partnership established in 2008, it draws on the “best and brightest” to meet the needs of high-tech companies and their employees.

The Bloomington Technology Partnership is a program of the BEDC, a not-for-profit corporation funded through memberships from private industry, City of Bloomington, Monroe County, Indiana University and Ivy Tech Community College-Bloomington. The Bloomington Technology Partnership is funded in part by the City of Bloomington. For more information go to www.bloomingtontech.com

Source: Bloomington Economic Development Corp.

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Medical Device Start-Up, Nico Corporation, Raises $10MM

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Medical Device Start-Up, Nico Corporation, Raises $10MM


Nico Corporation, an Indiana medical device start-up located in Indianapolis, announed on July 20 that they have closed a $10MM round of funding.  Congratulations to Nico.  Here is the entire release:

NICO Corporation, founded by several experienced Indiana life science executives, announced today that it has secured $10 million in Series C funding from more than 45 new investors. NICO is a privately-held medical device company holding exclusive worldwide patent rights to the newest automated minimally invasive neuro and spinal tissue and tumor removal instruments to hit the commercial market in more than a decade. The investment round was led by familiar names to the Indiana life sciences community Rose-Hulman Institute of Technology, Twilight Venture Partners, River Cities Capital Funds, Clarian Health Ventures, and The HALO Group.

“NICO is one of those companies that has all the right ingredients for a success story, said Carter McNabb, managing director of River Cities Capital Funds. “Innovative technology, compelling clinical applications and experienced leadership are all components of the NICO story line. NICO’s leadership team produced outsized results in the past with Suros Surgical Systems, and we believe they are poised to do it again with NICO.”
Indiana’s life science sector continues to show signs of strength even during challenging economic times. NICO is part of that Midwest sector growth and launched its first product, the NICO Myriad™, in May. The company has raised more than $12 million in total investments with over 60 investors. NICO President and CEO Jim Pearson said this most recent funding round will allow the company to expand the product line and prove out the sales cycle while building market momentum into 2010.
“Securing this level of commitment from investors who understand the importance of integrating reliable and industry-changing technology with a solid business plan indicates an unprecedented level of confidence during unpredictable economic times,” said Pearson. “These investments will allow NICO to ramp-up production and ultimately provide patients with new minimally invasive surgery options.”
The NICO Myriad is designed for all soft tumor tissue removal in the central nervous system and offers surgeons significantly more control for delicate tissue shaving on and around critical structures while drastically reducing surgical procedure times. It can be inserted down the working channel of an endoscope and is uniquely capable of cutting, aspirating and dissecting tissue without removal from the surgical field.
“This device has tremendous potential to play a significant role in enabling access and ensuring safety in the removal of brain tumors near critical structures and in tight spaces,” said Dr. Troy Payner, neurological surgeon and president of the Indianapolis Neurosurgical Group. “It offers several advantages over existing technology, especially for minimally invasive neurosurgery and endoscopic neurosurgery. It may also have applications in the spine, which could be revolutionary.”
The NICO product line is unique in its ability to advance the industry towards more minimally invasive approaches because it uses no heat and can eliminate patient risk from heat damage to adjacent critical structures such as nerves or blood vessels. They are capable of being used in all open and endoscopic procedures, allowing the physician superior access with a tool that is about the size of a pencil. NICO products are also completely automated, which improves the rate of tissue removal during open and endoscopic surgery.
The NICO technology offers a unique advantage that can shorten the duration of surgery, preserve critical structures, and improve the extent of resection of certain brain tumors, all of which will improve patient outcomes,” added Dr. Payner.
More than 200,000 people in the United States and 2 million people worldwide are diagnosed with a brain tumor every year. They are the leading cause of solid tumor cancer deaths in children under the age of 20, the second leading cause of cancer deaths in male adults ages 20-29, and the fifth leading cause of cancer deaths in females ages 20-29. The Myriad device has clinical applications for both adult and children patient populations.
To learn more about NICO Corporation and the NICO Myriad, visit www.niconeuro.com.

NICO Corporation, founded by several experienced Indiana life science executives, announced today that it has secured $10 million in Series C funding from more than 45 new investors. NICO is a privately-held medical device company holding exclusive worldwide patent rights to the newest automated minimally invasive neuro and spinal tissue and tumor removal instruments to hit the commercial market in more than a decade. The investment round was led by familiar names to the Indiana life sciences community Rose-Hulman Institute of Technology, Twilight Venture Partners, River Cities Capital Funds, Clarian Health Ventures, and The HALO Group.

“NICO is one of those companies that has all the right ingredients for a success story, said Carter McNabb, managing director of River Cities Capital Funds. “Innovative technology, compelling clinical applications and experienced leadership are all components of the NICO story line. NICO’s leadership team produced outsized results in the past with Suros Surgical Systems, and we believe they are poised to do it again with NICO.”

Indiana’s life science sector continues to show signs of strength even during challenging economic times. NICO is part of that Midwest sector growth and launched its first product, the NICO Myriad™, in May. The company has raised more than $12 million in total investments with over 60 investors. NICO President and CEO Jim Pearson said this most recent funding round will allow the company to expand the product line and prove out the sales cycle while building market momentum into 2010.

“Securing this level of commitment from investors who understand the importance of integrating reliable and industry-changing technology with a solid business plan indicates an unprecedented level of confidence during unpredictable economic times,” said Pearson. “These investments will allow NICO to ramp-up production and ultimately provide patients with new minimally invasive surgery options.”

The NICO Myriad is designed for all soft tumor tissue removal in the central nervous system and offers surgeons significantly more control for delicate tissue shaving on and around critical structures while drastically reducing surgical procedure times. It can be inserted down the working channel of an endoscope and is uniquely capable of cutting, aspirating and dissecting tissue without removal from the surgical field.

“This device has tremendous potential to play a significant role in enabling access and ensuring safety in the removal of brain tumors near critical structures and in tight spaces,” said Dr. Troy Payner, neurological surgeon and president of the Indianapolis Neurosurgical Group. “It offers several advantages over existing technology, especially for minimally invasive neurosurgery and endoscopic neurosurgery. It may also have applications in the spine, which could be revolutionary.”

The NICO product line is unique in its ability to advance the industry towards more minimally invasive approaches because it uses no heat and can eliminate patient risk from heat damage to adjacent critical structures such as nerves or blood vessels. They are capable of being used in all open and endoscopic procedures, allowing the physician superior access with a tool that is about the size of a pencil. NICO products are also completely automated, which improves the rate of tissue removal during open and endoscopic surgery.

The NICO technology offers a unique advantage that can shorten the duration of surgery, preserve critical structures, and improve the extent of resection of certain brain tumors, all of which will improve patient outcomes,” added Dr. Payner.

More than 200,000 people in the United States and 2 million people worldwide are diagnosed with a brain tumor every year. They are the leading cause of solid tumor cancer deaths in children under the age of 20, the second leading cause of cancer deaths in male adults ages 20-29, and the fifth leading cause of cancer deaths in females ages 20-29. The Myriad device has clinical applications for both adult and children patient populations.

To learn more about NICO Corporation and the NICO Myriad, visit www.niconeuro.com.

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