New University of Michigan Tinnitus Discovery — Signal Timing
- Thread starter Hudson
- Start date
Member- Sep 8, 2022
- 53
- Tinnitus Since
- 11/2020
- Cause of Tinnitus
- loud noise/construction
I still believe that since the University of Michigan owns the patent for this device, their Innovation Partnership might be leading efforts to bring it to market.
However, I worry that, like many university departments, the University of Michigan's Innovation Partnership is severely underfunded and understaffed. This is a press release the Innovation Partnership released last year about the device.
The funding situation for university inventions looks dismal. For example, their "up to $250,000 for mid-stage funding" program is a drop in the bucket. To put that into perspective, my company spent a minimum of $25 million per year, and likely closer to $200 million, developing an all-digital application over two years. A device like this should have at least a few million dollars behind it. A small startup of 12 people could easily burn through $250,000 in just a few weeks.
I also think organizations like Spotify, Capitol Records, or others in the music industry could easily pitch in funding. They would stand to gain goodwill with musicians and fans who suffer from tinnitus. The minimal funding offered by the university would only make sense if it functions like the Bipartisan Infrastructure Law, offering support to somewhat risky but potentially profitable technologies to encourage private investment. It cannot be the primary investment itself; it must serve as a seal of approval to signal to real investors that this project is worth supporting. I wonder how much we would need as angel investors to influence the University of Michigan and get this moving.
Another thought: Does Tim Walz know about this device? Regardless of politics, he is a well-known figure, a veteran suffering from tinnitus, and the governor of a state renowned for its medical innovation. See this and this for context. While governors do not hand out grants, Walz's network could help connect Dr. Shore's device with medical investors, companies, and individuals who could accelerate its development. Why are we not lobbying him? We should all be camping outside his office to get a few minutes of his time and make him aware of this device.
The lack of awareness is a real issue. If the last three audiologists I visited, including one who is a professor, were unaware of Dr. Shore's device, I doubt Walz knows about it either.
However, I worry that, like many university departments, the University of Michigan's Innovation Partnership is severely underfunded and understaffed. This is a press release the Innovation Partnership released last year about the device.
The funding situation for university inventions looks dismal. For example, their "up to $250,000 for mid-stage funding" program is a drop in the bucket. To put that into perspective, my company spent a minimum of $25 million per year, and likely closer to $200 million, developing an all-digital application over two years. A device like this should have at least a few million dollars behind it. A small startup of 12 people could easily burn through $250,000 in just a few weeks.
I also think organizations like Spotify, Capitol Records, or others in the music industry could easily pitch in funding. They would stand to gain goodwill with musicians and fans who suffer from tinnitus. The minimal funding offered by the university would only make sense if it functions like the Bipartisan Infrastructure Law, offering support to somewhat risky but potentially profitable technologies to encourage private investment. It cannot be the primary investment itself; it must serve as a seal of approval to signal to real investors that this project is worth supporting. I wonder how much we would need as angel investors to influence the University of Michigan and get this moving.
Another thought: Does Tim Walz know about this device? Regardless of politics, he is a well-known figure, a veteran suffering from tinnitus, and the governor of a state renowned for its medical innovation. See this and this for context. While governors do not hand out grants, Walz's network could help connect Dr. Shore's device with medical investors, companies, and individuals who could accelerate its development. Why are we not lobbying him? We should all be camping outside his office to get a few minutes of his time and make him aware of this device.
The lack of awareness is a real issue. If the last three audiologists I visited, including one who is a professor, were unaware of Dr. Shore's device, I doubt Walz knows about it either.
- Jun 16, 2023
- 119
- Tinnitus Since
- 06/2023
- Cause of Tinnitus
- Escitalopram/Stress/Ultra High Frequency Hearing Loss
My daughter was born the year this thread started. I pray we see this come out before she goes to college...
withintention
Member
- Nov 26, 2023
- 68
- Tinnitus Since
- 10/2023
- Cause of Tinnitus
- Noise and/or infection
@BadNeighbors, it is likely that Innovation Partnership is no longer the sole investor at this point. It seems Auricle was trying to attract additional investment back in 2021, based on this video:
Who knows how successful they were, but it is quite possible that they now have more investors onboard besides Innovation Partnership.
That said, they do seem to be taking their time and only have a couple of employees. This is probably because they do not have enough funding to move faster. However, they would have burned through $250,000 very quickly. There must be more funding in the mix to keep them going.
withintention
Member
- Nov 26, 2023
- 68
- Tinnitus Since
- 10/2023
- Cause of Tinnitus
- Noise and/or infection
I'll focus on the positive side! They hired a new mechanical engineer last year, and Dr. Shore gave a public talk about the research that led to the development of the device. Although they are unwilling to share details about their planned FDA submission—which is disappointing—I still see these as positive signals.
- Sep 8, 2022
- 53
- Tinnitus Since
- 11/2020
- Cause of Tinnitus
- loud noise/construction
I wonder if we can still get in on the ground floor, either as individuals or as a group.
It would be an interesting silver lining to all our suffering if we could reap the rewards of investing in this device early on. Could we form an LLC or another type of legal entity, buy shares within that entity, and then have it invest collectively in Auricle? I imagine we'd need to invest as a group since few of us likely have large sums of cash readily available to invest individually.
On another note, while clicking around, I saw that Michigan recently passed a bill to invest in new companies. Auricle supported this bill, and hopefully, for our sake, they'll be able to access those funds. The more support we can provide to new companies aiming to improve lives, the better. Way to go, Michigan!
Lenire and Auricle operate in different ways. Lenire works by increasing hyperactivity in the dorsal cochlear nucleus (DCN) to distract the brain from tinnitus. In contrast, Auricle reduces hyperactivity, aiming to address the underlying issue directly.
withintention
Member
- Nov 26, 2023
- 68
- Tinnitus Since
- 10/2023
- Cause of Tinnitus
- Noise and/or infection
In the US, investing in a pre-IPO company typically requires being an Accredited Investor, which involves meeting certain income or net worth criteria.
A straightforward approach might be to determine how many of us are interested in investing and calculate the total amount we could contribute. With that figure in hand, we could approach the CEO to gauge their interest. If the CEO is open to the idea, the next step would be to form an LLC to finalize the deal.
However, it's worth noting that the company might not be seeking additional funding at this stage, as bringing in more investors could dilute the equity of the existing shareholders.
A straightforward approach might be to determine how many of us are interested in investing and calculate the total amount we could contribute. With that figure in hand, we could approach the CEO to gauge their interest. If the CEO is open to the idea, the next step would be to form an LLC to finalize the deal.
However, it's worth noting that the company might not be seeking additional funding at this stage, as bringing in more investors could dilute the equity of the existing shareholders.
That's what I'm thinking. Even though the devices are different, the FDA may be more cautious about approving the Shore device after witnessing the failure of Lenire.
Lenire may not be the overwhelming success we all hoped for, but it is still a treatment option—though a very expensive one. Some people might not be satisfied with how the research study was designed, such as the absence of a placebo group, or with how the results were reported (e.g., "91.5% of patients experienced a meaningful reduction in tinnitus after 12 weeks of treatment with Lenire").
However, it is an FDA-approved treatment option, and there are individuals who have benefited from it.
However, it is an FDA-approved treatment option, and there are individuals who have benefited from it.
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