Adam Berman
CEO, Alleviant Medical
CEO & Co-Founder, TVA Medical (acq. by Bard BD)
GET TO KNOW ADAM...
Hometown:
New York, NY | Currently resides in Austin, TX
Alma Mater:
Rensselaer Polytechnic Institute, University of Washington
Hobbies:
Listening to 80’s rock music with my daughter
Q: What inspired the creation of TVA Medical and Alleviant Medical?
A: Both companies were created to address complex medical problems with minimally invasive treatments that can make a big impact on quality of life.
For example, patients with kidney failure often require multiple surgeries to receive dialysis. Dr. Billy Cohn invented a medical device and approach to help these patients with a less invasive technique. With this innovation, we co-founded TVA to build a product, a clinical approach, and a business to help improve the lives of kidney failure patients.
My current endeavor, Alleviant Medical, was similarly created to develop a therapy for patients with congestive heart failure. There are limited treatment options available for these patients, so Alleviant developed a simple, minimally invasive procedure (delivered through a vein in the upper leg) to reduce pressure inside the left atrium with the goal of improving their quality of life. The technology is implant-free and is currently in clinical trials.
Q: What has been your most satisfying moment in your business journey so far?
A: During the pandemic, the Alleviant team worked side-by-side with healthcare providers internationally to deliver and study our new therapy for diastolic heart failure patients — a difficult disease with few treatment options. We saw, firsthand, patients feeling better and moving more — despite their disease.
Equally amazing was at TVA when the team helped the first kidney failure patients receive successful dialysis without open surgery. When we get to see and feel the impact directly, there is nothing better in the world.
Q: What key lessons did you learn during the funding and transaction journey at TVA Medical that have made things smoother as CEO of Alleviant?
A: I learned that you should build the team and the investor syndicate early with people that share your passion and vision, then drive relentlessly as a team toward your goals – all while having fun and keeping an open mind.
Q: In your role, do you find the fundraising process easier or harder than the product development process?
A: The product development process and the clinical study process is a ton of fun. Fundraising is a natural part of this business, and it’s a chance to expand the people and stakeholders involved. We try to get better at both each day.
Q: Who has been your biggest support or resource within the startup ecosystem?
A: Both S3 Ventures and Sante were instrumental, not only in TVA’s development, but in my own personal development. Chris Kaster, Vensana, Broadview, TMC ventures, and S3 Ventures have been thoughtful partners with management as we build Alleviant. I’m thankful for multiple friends and mentors, and most importantly our team. We are like a family. My wife and daughters, however, are the ultimate Zen masters-of-support.
Q: What are the greatest lessons you’ve learned so far as an entrepreneur?
A: Team always comes first. Problems arise, people are complicated, and things can go totally sideways in ways you cannot always predict. Use difficult situations to create more value for your organization, your mission, and your shareholders.
Q: What is your favorite thing about doing business in Texas?
A: We love building companies in Austin because it has a great vibe – the people, the city, the food, the music, the entrepreneurial energy. For our medtech work, Texas has top clinicians, hospitals, and unmatched access to some of the largest healthcare delivery systems in the world.
Q: What was been the most beneficial support you’ve received from S3?
A: S3 has provided clear, thoughtful input during difficult times. They worked with management to distill complex concepts to a few, focused, achievable efforts that build value.
Q: What was your very first job?
A: Stocking grocery shelves and bussing tables were my first job experiences.
Q: What is the first thing you do when you wake up in the morning?
A: Coffee, read, and exercise try to start the day with a clear mind.
Headquartered in Austin, Alleviant Medical is a medical device company developing a minimally invasive, implant-free procedure under clinical investigation for the treatment of chronic heart failure (heart failure with preserved ejection fraction, or “HFpEF”). HFpEF is a medical condition that disproportionately affects women, and there are unfortunately few treatment options. With more than 30 patients successfully treated in ongoing clinical studies, the company plans to begin the first global pivotal trial later in 2022.
TVA Medical, Inc. developed a minimally invasive technology for patients with chronic kidney disease requiring hemodialysis. Acquired by Bard BD, the technology serves physicians and their patients by providing a non-surgical option for creating AV fistulas (joining arteries to veins to allow a patient’s blood circulation to connect to a dialysis machine.
“Use difficult situations to create more value for your organization, your mission, and your shareholders.”