MYNERVA: The Venture Leader Medtech revolutionizing fall prevention and pain relief

27.09.2024 10:00, Rita Longobardi

Meet Greta Preatoni, Co-Founder of MYNERVA. The Medtech startup is revolutionising diabetic neuropathy treatment with wearable tech offering personalized care, remote monitoring, and efficient digital health solutions for pain-free, secure steps.

Name: Greta Preatoni
Location: Zurich, Switzerland
Nationality: Italian and Icelandic
Graduated from: ETH Zurich
Job title: CEO & Co-Founder of MYNERVA
Number of employees: 8
Money raised: CHF 5.3 million (including both non-dilutive and dilutive funding)



 

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Can you tell us who your product or solution helps, and how?
Our product, Leia, is designed to help individuals suffering from Diabetic Peripheral Neuropathy (DPN). Leia is a non-invasive, wearable device that restores sensory feedback and alleviates chronic pain through AI-driven electrical stimulation. By addressing both pain and sensory loss, Leia significantly improves the quality of life for DPN patients, allowing them to regain mobility and independence.

What market are you addressing and what is the potential of your startup in that market?
We are addressing the global Diabetic Peripheral Neuropathy market, which is rapidly growing due to the increasing prevalence of diabetes. The market is projected to reach USD 7.12 billion by 2026. MYNERVA's potential lies in its unique ability to provide a comprehensive solution that addresses both pain management and sensory restoration, positioning Leia as a leading product in this market.

How and where did you come up with the idea for your startup?
The idea for MYNERVA originated during my PhD research at the Neuroengineering Laboratory of ETH Zurich, under the guidance of Professor Stanisa Raspopovic. I realized that current treatments for DPN were inadequate, focusing either on pain management or sensory restoration, but not both. This gap inspired us to develop Leia, a device that could provide a holistic solution for DPN patients.

What do you expect from the Venture Leaders Medtech roadshow, and how will it help you achieve your vision?
I expect the Venture Leaders Medtech roadshow to provide valuable exposure to potential investors, partners, and key players in the Medtech industry. This experience will help us refine our business strategy, expand our network, and secure the resources needed to bring Leia to a broader market, ultimately achieving our vision of improving the lives of millions of DPN patients worldwide.
 

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What are your team’s key achievements to date?
Our key achievements include successfully developing and validating Leia through rigorous clinical trials, securing CHF 5.3 million in funding, and establishing strong partnerships with leading institutions such as ETH Zurich, Wyss Zurich Translational Center, and Balgrist University Hospital. Additionally, we have been recognized by the Diabetes Center of Bern Innovation Challenge and have secured a solid IP position with our technology.

What is the most challenging and rewarding aspect of being a founder?
The most challenging aspect is managing the uncertainty and risks that come with building a startup, especially in the Medtech field. However, the most rewarding part is seeing the tangible impact of our work on patients' lives and knowing that we are contributing to a significant improvement in their quality of life.

What is the most important lesson you have learned as a founder?
The most important lesson I've learned is the value of resilience. Building a startup is a marathon, not a sprint, and there will be setbacks along the way. Staying focused on the vision and being adaptable to change is crucial for long-term success.

What is your favourite productivity hack/tool and why?
My favorite productivity tool is Miro. It allows for real-time collaboration with my team, helps in visualizing complex projects, and facilitates brainstorming sessions, making it invaluable for our innovation-driven work.

What was your dream job when you were a child?
As a child, I dreamed of becoming a veterinarian and a scientist. I was fascinated by animals and biology, and I wanted to explore and understand the world around me while helping others, which ultimately led to my passion for science and innovation.