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Joe Hage
🔥 Find me at MedicalDevicesGroup.net 🔥
June 2019
This Injustice Makes Me Really Mad
2 min reading time

Fake news and corporate espionage are alive and well, which is more than we can say about Brian Meshkin‘s startup, Proove Biosciences.

I’m angry for a number of reasons. First, deliberate lies destroyed a company. 278 people lost their jobs.

Second, I believe Brian’s chronic pain management solution has no equal. Mercifully, I don’t need his patented solution yet – but I may one day – and it’s off the market now.

It’s unfair. And I hate “unfair.”

Watch Brian’s presentation so you don’t make the same mistakes he did. Slides and transcript available on the 10x Medical Device Conference library of presentations.

He had to put the company in receivership. I asked, “When you put the company in receivership, do you have any ownership over the IP now?”

Click here for that answer and his advice on receiverships.

What now?

Brian’s was one of three talks that pulled on our heartstrings.

Entrepreneurs, please: Watch this brave presentation. (It takes humility to keynote about your failures.)

Learn from Brian.

You’ll undoubtedly see, he’s real and genuine. And I’m confident he’d take your call – because he strives to make his experience mean something in the long term.


John Oliver’s satirical piece on our industry

As of this writing (June 4, 2019) and with nearly three-million views, this is #3 on the YouTube trending list.

I would have done a whole write up on it but the piece, while amusing, rehashes much of what we discussed about “The Bleeding Edge” on Netflix.

We discussed the movie at length as a group. If you missed it, see “510(k) was supposed to be the exception. ‘It’s Regrettable.’“

In it, Dr. David Kessler, FDA Commissioner, 1990-1997, is quoted, “That 510(k) pathway provision, which was meant as an exception, in essence, a little loophole… That exception became the rule. So the vast majority of devices today, regrettably, are regulated under this framework.”

Oliver chides the industry for this major loophole, saying the 510(k) provision is jeopardizing us.

Do you agree?


Thank you for being part of our Medical Devices Group community!

Please  this article with medical device entrepreneurs. It’s important.

Make it a great week.

Joe Hage signature

Joe Hage
Founding Principal, Medical Devices Advisory Group

P.S. I’m going to Joe Anderson’s 32nd annual ConX event in August. You should send a delegate from your quality and supply chain organizations, at a minimum.

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Asked on June 4, 2019 10:52 am
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Joe Hage

I got a TON of personal mail back on this one. And while I love it, I'd prefer you share here with the class so we all benefit in the discussion! 😁

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Joe Hage

from Mark McWilliams
I watched one of my investments tank because of a completely false whistle blower lawsuit. The "justice department" showed up without warning, AND WITHOUT QUALIFYING THE VALIDITY OF THE CLAIMS IN ANY WAY. 15 SWAT OFFICERS WITH FACE PAINT AND AR RIFLES!

After a judge heard the company's side, the "justice department" was directed to settle but the company was gone by that time.

Very invidious, and D&O does not cover a whistleblower case so mgt was screwed, blued, tattooed and fined even though the case had zero merit. They had to settle.

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from Stephen Glassic
This really shows the stark contrasts of how media and social platforms can corrupt the court of public opinion which can also spill over to the regulating bodies that are supposed to be operating in a professional and unbiased manor. In my opinion, at the very least, the 510K process need to be refined to keep poor device companies from pushing undeserving devices through the process. And with all the promising advances in genetic and biochemical research, new path to approval procedures need to be defined to provide a responsible and practical path for the effective ones to reach mainstream medicine.

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from Sherman Couch
I listened to Brian's presentation. While at times he express regret (seeded with hindsight) at not have aggressively moved against the reporter's corrupt reporting, I take issue with your comment "so you don't make the same mistakes he did." I invite comment on what he should have done differently. SC

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Joe Hage

You object to my characterizing what he offered as "his mistakes" as "mistakes," Sherman? Is that what you're saying?

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from Sherman Couch
Joe, I don't object, I just invited comments on what he might have done differently. SC

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from Robyn (Smith) Barnes
As Don Smith says, a massive injustice. Brian does a great job telling his story and showing people where they can go wrong.

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from Don Smith
As a life sciences startup, I was compelled to write my thoughts on the Theranos documentary. If it’s of interest it’s available here: https://link.medium.com/p9I5nR0XgX

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from Don Smith
Wow. A massive injustice. And in such stark contrast to the Theranos story.
I hope Brian rebuilds and gets the success he deserves.

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from Jan Gates
I saw something similar in a larger company several years ago. It was tragic to see - while I worked there.

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from David M. Peterson, Ph.D.
Unfortunately, it does happen in the real world.

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from Travis N. Smith
It's certainly one perspective Brian shares. As we all know every story has three sides. Then again, Elizabeth Holmes with Theranos has a very similar perspective on what happened with her company.

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Joe Hage

Travis, are you implying Brian's take on things is disingenuous?

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from William Mogodi
Lepeke Mogashoa

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from Colleen M. (Mahon) Powell
This was riveting!

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