If you’ve spent any time in Boston over the past few months, you know that spring doesn’t arrive so much as it negotiates. But it’s here—and with it, we’re excited to share some of our work.
This quarter, we turned our focus to translational development—the journey that begins in a research lab and ends, if everything goes right, with a device in the hands of a clinician and a patient whose life is better for it. It’s one of the most challenging and most meaningful things a scientist or engineer can choose to do. But it’s a journey that demands a very specific kind of learning: not just mastering the science, but understanding IP, funding, commercial viability, and how to build a company around a technology you believe in.
For this series, we had the privilege of sitting down with two remarkable companies—Arsenal Medical and AVS—and with a group of advisors, investors, and IP experts who have guided translational researchers through this process firsthand. Their insights shape everything below.
As always, if there’s a topic you’d like us to explore, or an innovator you think we should interview, just reply to this email—I read every response.
Matthew Boyd
Chief Commercial Officer
Boyd Biomedical
The Path from Bench to Bedside
The U.S. medical device market reached $189 billion in 2024 and is projected to grow to $315 billion by 2032. But market size alone doesn’t explain why translational development matters. What matters is this: by 2030, one in five Americans will be 65 or older—and that aging population will drive unprecedented demand for devices that address diabetes, cardiovascular disease, dementia, and more.
In this study, we examine what it actually takes to navigate that path—from the moment a researcher first considers protecting an invention, through the decisions around commercial viability and funding, to the team-building and partnerships that determine whether a technology reaches patients or stalls in the valley of death.
What We Discovered
The researchers who succeed aren’t necessarily those with the best science. They’re the ones who develop the judgment to ask the right questions—and build the right team around the answers. You can explore this and much more in our full report below.
"The key is recognizing what you have and what potential paths to development and commercialization are available to you."
This report examines what it takes to move a medical device innovation from academic discovery to commercial reality—covering IP, funding, commercial viability, and the entrepreneurial mindset shift.
We had the pleasure of sitting down with Upma Sharma, President & CEO, and Carmichael Roberts, Co-Founder of Arsenal Medical, on our video series Design, Build, Launch. Their conversation is one of the most illuminating we’ve had on how translational development actually works in practice.
Arsenal was founded not around a specific product, but around a deep conviction that materials science was being underutilized in medical devices. Carmichael’s decision to bring together Bob Langer (MIT) and George Whitesides (Harvard) without a product in mind—only a shared competency—is one of the most distinctive origin stories in the industry. Their “material is the device” philosophy produced innovations like rescue foam for hemorrhage control, and raise over $40 million in non-dilutive DoD and DARPA funding.
Upma’s journey—from research scientist to CEO—is equally instructive. She describes the parking lot conversation with Carmichael who told her she was ready to lead before she believed it herself, and the intellectual shift required to move from publishing research to understanding what physicians truly need and what investors will fund.
Their discussion covers reimbursement, the risk-reward calculus of government funding, and the clinical validation work underway for their NeoCast bioresorbable bone void filler. It’s essential viewing for anyone navigating the translation journey.
We explore how Arsenal Medical built a biomaterials platform from the ground up—and what the academic-to-entrepreneur journey looks like from the inside.
Whether you’re a researcher considering your first spin-out, or a startup CEO preparing for a Series A, the articles below walk through the critical phases of translational development. Each draws on original expert interviews and primary research to give you frameworks you can apply immediately.
Working Inside Translational Development for Medical Devices
What translational development looks like on the ground—the disciplines involved, the career paths available, and the infrastructure that supports the field today.
The mindset shifts, skill gaps, and organizational challenges researchers face when moving from the lab to the commercial world—and how to navigate them.
Why IP strategy must start before anything is shared—and how to build an offensive and defensive posture that protects your investment and attracts capital.
Assessing Commercial Viability for Medical Devices
A framework for evaluating whether your device can succeed in the market—covering clinical need, competitive landscape, reimbursement, and regulatory pathway.
Funding Strategies for Medical Device Entrepreneurs
From university grants and SBIR awards to angel investors, strategic partners, and Series B—a practical guide to funding your device from concept to commercialization.
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