Mary E. Anderson is the new Chief Financial Officer of RxFunction, Inc., a start-up medical device company that created walkasins® - the first Wearable Sensory Prosthesis (WSP™) - to help improve balance and gait in patients who experience balance problems due to sensory peripheral neuropathy. For more information see the IDTechEx report on wearable technology.
With over 25 years as an executive at two Minnesota medical start-ups, Anderson will oversee both the finance and reimbursement functions within RxFunction. With strong employee and customer-centric leadership, Anderson brings extensive experience from her previous roles at Tactile Medical where she was Vice President of Reimbursement and at Advanced Respiratory Inc. where she served as CFO and Vice President of Internal Operations.
"It is an exciting time to join RxFunction," said Anderson. "The unique walkasins® technology addresses a large unmet need for patients suffering from peripheral neuropathy, and I look forward to contributing to the effort to bring this remarkable product to market."
"Mary brings strong financial and reimbursement expertise to the company," said RxFunction, Inc. CEO Tom Morizio. "With her successful track record of leading start-up medical device companies through development to market potential, she is a welcome addition to our executive team as we enter our next stage of growth."
Walkasins® was created to help improve balance in patients who experience gait and mobility problems due to sensory peripheral neuropathy, a disorder where the nerves in the feet are damaged causing numbness. This can lead to loss of balance and increase the risk of falls. According to the National Institutes of Health, an estimated 20 million Americans have some form of peripheral neuropathy, commonly a consequence of diabetes and chemotherapy, and widely present in the elderly population.
Walkasins® consists of a thin sensor-instrumented Foot Pad placed in the shoe that measures changes in foot pressure reflecting the patient's state of balance. The Foot Pad connects to a Leg Unit that contains a micro-processor and a proprietary algorithm that activates vibrator motors placed around the leg to provide new tactile balance cues to the patient. Leaning too far in any one direction triggers a vibration on that side of the leg signaling to the brain to correct balance. Patients who can feel these leg vibrations and have sufficient muscle function can then better sense where their feet are on the ground, helping them to improve balance and mobility.
Development of walkasins® has been supported by a Small Business Innovation Research (SBIR) grant from the National Institutes of Health (AG040865).
About RxFunction, Inc.
RxFunction is a medical device company with an initial focus on developing and leading a new business segment within the U.S. medical grade assistive technology marketplace. The company's vision is to improve physical ability and quality of life for patients with sensory peripheral neuropathy at high risk of falling. Privately held and headquartered in Eden Prairie, MN, RxFunction created walkasins® building upon patented technology developed by co-founder Dr. Lars Oddsson as a research professor at Boston University's Neuromuscular Research Center. Walkasins® has not been submitted to the FDA for review and is not available for sale at this time. Walkasins® is manufactured in Minnesota.
RxFunction website: www.rxfunction.com
Learn more at the next leading event on the topic: Business and Technology Insight Forum. Tokyo 2019 on 20 - 21 Feb 2019 at Tokyo, Japan hosted by IDTechEx.