Periodic Reporting for period 1 - MedicQuant (Commercial maturation of MedicQuant)
Période du rapport: 2023-07-01 au 2024-06-30
MedicQuant is an in vitro diagnostic company where we have invented a deep-tech platform technology that will revolutionize small molecule diagnostics. Our first product, DoaQuant, focuses on improving stroke management. In the event of stroke rapid treatment is vital for survival and every minute matters. It is crucial to determine the level of anticoagulant (AC) drugs in these patients, as this determines which lifesaving treatment can be given. Current diagnostic solutions take more than 40 minutes thus risking patients’ lives. DoaQuant can rapidly provide clinicians with the answer they need to determine the correct life-saving management in stroke, thus greatly reducing delay in treatment, mortality, and disability.
MedicQuant is at product development/pre-clinical stage. As MedicQuant is a deep-tech diagnostic company, we are high-risk, high reward and as the road to market is long and cost intensive, early de-risking is essential. The greatest challenges before project start were both technical, regulatory, commercial and funding. These mainly concerned regulatory approval, market access, clinical performance and securing VC funding to reach market launch.
The overall goal of the activities performed during the Women TechEU program are to de-risk the commercial aspects of MedicQuant in order to be VC investment ready. This include both regulatory pathway, market access strategy and coaching.
MedicQuant is at product development/pre-clinical stage. As MedicQuant is a deep-tech diagnostic company, we are high-risk, high reward and as the road to market is long and cost intensive, early de-risking is essential. The greatest challenges before project start were both technical, regulatory, commercial and funding. These mainly concerned regulatory approval, market access, clinical performance and securing VC funding to reach market launch.
The overall goal of the activities performed during the Women TechEU program are to de-risk the commercial aspects of MedicQuant in order to be VC investment ready. This include both regulatory pathway, market access strategy and coaching.
The work performed in this project is not related to technical or scientific aspects. The results are therefore explained in another section.
The impact of the results from the Women TechEU grant are big, as these are key steps to be performed in order to de-risk the commercial aspect of the company. This is important, both to ensure successful market launch of the product, but also in order to raise capital for the clinical evaluation phase. The key results that were obtained in the grant period were: Regulatory pathway, reimbursement analysis, pricing and dynamics at hospitals, market access strategy and coaching in order be VC ready.