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Crowdfunding the next medical cure

Creating a new medical device is not an inexpensive exercise. There are development costs, clinical trial expenses, and the lengthy process of getting a piece of new equipment approved by the Food and Drug Administration. Those hurdles are a leading reason why most medical innovations come out of universities or established research firms. A couple of start-ups are trying to change that. MedStartr and HealthFundr — both online crowdfunding platforms — connect potential medical innovators to scores of people willing to put money into the projects. “There’s a lot of capital sitting on the sidelines,” said Sean Schantzen, co-founder and …read more