WE DEVELOP NOVEL THERAPIES TO ADDRESS UNMET NEEDS

At iRiva Medical, we are focused on developing and commercializing next generation neuromodulation technology platforms to treat patients suffering from chronic diseases.

About iRiva

iRiva Medical is developing innovative neuromodulation therapy to treat unmet clinical needs impacting large patient populations.

Our Supporters

We are a team of entrepreneurs, investors, and technology developers with extensive experience in implantable medical devices who have successfully founded multiple companies in the medical technology space. We are partnering with leading clinicians to solve burdening chronic conditions and are supported by venture capital partners with deep domain expertise.

 

Leadership Team

Steve Masson

Steve Masson

President & CEO

Steve Masson is an experienced senior medical technology executive with 40 years of experience in both startup and revenue-driven companies, including over 30 years in active implantable devices. Steve has extensive technical expertise, as well as experience in operations, clinical, regulatory, and general management. Steve has led the development for a wide variety of medical devices, including pacemakers, implantable and external defibrillators, neurostimulators, mechanical circulatory assist systems, support and diagnostic instruments, catheters, and other percutaneous devices.

Steve’s early career began at Cordis where he developed cardiac pacemakers and headed up the development of new instrument products. Then, at startup Ventritex, he held leadership positions developing innovative implantable defibrillator technology. He served in senior management for several years after a successful IPO, and the subsequent acquisition by St. Jude Medical (Abbott) for $365M.

Steve then focused on the development of novel therapies in a series of venture-backed startup companies. At Kriton Medical (Heartware), Steve led R&D in the early development of an innovative rotary circulatory assist device.  Steve then returned to cardiac rhythm management as CTO at InnerPulse, developing a unique percutaneous implantable defibrillator system, and later serving as General Manager for the company. Steve then co-founded NeuroTronik, and as Sr. Vice President and CTO, led clinical and technology development for an innovative neuromodulation therapy targeting acute heart failure. Recently, Steve co-founded Avivomed and served as President & CEO, leading the organization through product development of a groundbreaking neuromodulation system and into pilot clinical studies.

Steve holds ten issued US patents, with several additional pending.  He has been an author in several peer-reviewed publications.  Steve graduated with a BS in Electrical Engineering from the University of Miami and completed further graduate studies with a focus on electrical and biomedical engineering.

Mudit K. Jain

Mudit K. Jain

Co-Founder and Chairman of the Board

Mudit is a Founding General Partner of Treo Ventures, and co-founder and CEO of NuXcel.

Mudit has co-founded four neuromodulation companies ShiraTronics, Inc., Avivomed,Inc., iVEAcare, Inc., and iRiva Medical, Inc., where he serves as Chairman of the Board and helped raise more than $175M in their Series A & B financings. Mudit brings diverse experiences as a venture capitalist, serial entrepreneur, and operator in medical device industry. His experiences span across company formation, therapy and product development, commercialization, and business development.

Prior to founding Treo Ventures, Mudit was a General Partner with Synergy Life Science Partners where he delivered top quartile performance. Before Synergy, Mudit led Johnson & Johnson Development Corporation’s medical device investment activities in the Midwest and East Coast.
Prior to his investing career, Mudit held operational roles in the Cardiac Rhythm Management Division of Guidant Corporation. Mudit holds nine issued patents and has published numerous articles in peer reviewed publications.
Mudit has served on the boards of several medical device companies, both public and private, from early concept to commercial growth stage, resulting in successful IPOs and M&As. Mudit currently serves on the boards of Avivomed, CVRx, (NSDQ: CVRX), Neochord, Neuspera Medical, NuXcel, ShiraTronics, iRiva Medical, and SecondWave Systems, Inc.
Some of his prior investments/board responsibilities include Inspire Medical Systems (NYSE: INSP), iRhythm Technologies (NSDQ: IRTC), Aptus Endosystems (Acqd. by Medtronic), CardioMEMS (Acqd. by St. Jude Medical), and Impres Medical (Acqd. by J&J).
Mudit also serves on the External Advisory Board for Cleveland Clinic Innovations, External Advisory Board of John Hopkins University Center for Bioengineering Innovation and Design, and on the Board of One Heart Health, a healthcare focused non-profit focused on providing access to pediatric populations in underprivileged geographies. He served on Duke University Graduate School Board of Visitors from 2016-2023.
Mudit graduated with a B.E. in Electrical Engineering from VNIT, Nagpur, India, where he was a gold medal recipient for academic achievements. He received his Ph.D. in Biomedical Engineering from Duke University, and his M.B.A. from The Wharton Business School, University of Pennsylvania

Lynn Elliott

Lynn Elliott

Co-Founder and Director

Lynn brings three decades of active implantable device experience in medical device innovation, R&D, manufacturing, clinical trials, and regulatory approvals to healthcare challenges. Lynn has a unique blend of experience in large medical device companies such as Guidant and Boston Scientific and small venture capital funded startups like Spinal Modulation, SacraMed, and ShiraTronics.

At Guidant, Lynn held leadership positions in Product Development and Research & Advanced Technologies and was a key driver of delivering pacemakers, implantable defibrillators and cardiac resynchronization device to the global market with revenues in excess $1B.

At Spinal Modulation, Lynn held the position of Chief Technology Officer and was a key driver of defining and delivering an innovative neurostimulation device for the management of chronic pain. Spinal Modulation was acquired by St Jude (Abbott) in a deal valued in excess of $500M.

Lynn holds over 20 US patents and has published numerous articles in peer reviewed publications.  Lynn graduated with a BS in Electrical Engineering from South Dakota School of Mines and Technology, an MS in Software Engineering from St Thomas University and advanced studies in Software Engineering at the University of Minnesota.

Press

iRiva Medical Announces Close of Initial Financing Round

MINNEAPOLIS, November 4, 2025 – iRiva Medical, Inc., a privately held, development stage medical device company based in Minneapolis, and NuXcel spinoff, announced the closing of its initial financing led by F-Prime, with participation from Hatteras Venture Partners, Norwest, and Treo Ventures. The proceeds of this financing will provide resources to enable the company to pursue the development and commercialization of innovative neuromodulation technology platforms to treat large patient populations suffering from chronic diseases.

Concurrent with financing, the company announced the hiring of Steve Masson as President and Chief Executive Officer. Mr. Masson is an experienced senior executive with more than 40 years in the medical device business, including 35 years in active implantable devices. Previously, Steve held senior executive and management roles for more than 30 years. He has served in general management, research and development, and operational positions in both venture capital-backed
startups and large, revenue-driven companies, including Cordis, Ventritex, InnerPulse, NeuroTronik and Avivomed.

“We look forward to partnering with our seasoned investor group and benefitting from their depth of experience in medtech and neuromodulation. I am excited and appreciative to join the iRiva team as we work together to deliver a new and innovative therapy to patients and clinicians,” Mr. Masson commented.

iRiva is the fourth company to be launched out of NuXcel, a medical device accelerator managed by Mudit Jain and Lynn Elliott, with backing by Treo Ventures. “We are excited to have Steve Masson joining another NuXcel spinoff, honored to have the support of world-class investors and looking forward to partnering with this experienced syndicate to deliver on iRiva Medical’s mission,” said NuXcel founder and CTO, Lynn Elliott.

“We are thrilled to partner once again with Steve Masson, the NuXcel team, and this investor syndicate and look forward to realizing iRiva’s mission of delivering state-of-the-art neuromodulation therapy to patients with significant unmet clinical need.” said Kevin Chu, Principal at F-Prime.

Contact: www.irivamedical.com
Source: iRiva Medical, Inc.

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