Rapid monitoring of biomarkers in postoperative care

Project Information

MD

Grant agreement ID: 673561

DOI

10.3030/673561

Project closed

EC signature date 13 April 2015

Start date 1 May 2015

End date 31 October 2015

Funded under

• SOCIETAL CHALLENGES - Health, demographic change and well-being

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

MD BIOMEDICAL AB
Sweden

Periodic Reporting for period 1 - MD (Rapid monitoring of biomarkers in postoperative care)

Reporting period: 2015-05-01 to 2015-10-31

Summary of the context and overall objectives of the project

The specific objectives of the feasibility study were to evaluate the feasibility of the concept and outline the confirmation phase and preparing for the exploitation phase of the planned activity. The main deliverable
from the study is a feasibility report. Another specific objective of the first phase is to get detailed knowledge on the primary medical application and establish a network of European collaboration partners for the second phase involving the future users (surgeons) of the technology. A second specific objective is to investigate competition and potential market barriers as part of cost saving estimations. A third specific objective of phase 1 was to map complementary instrumentation and to identify suitable business partners of phase 2. A fourth objective was to establish protocols and indications on overall health, societal and environmental benefits (task 4), protocols to be used in clinical trials in phase 2,. A fifth objective was to compile economical effects as basis for a pricing strategy and analyze the profitability obstacles that may exist when going into phase 3 of the project. The 6th objective was to elaborate an innovation strategy for the project. The final objective of the feasibility phase was to write a Business Plan that will put together the tasks of the project and present the predicted business- and market possibilities. We have reached these objectives and found a feasibility for the innovation project. Yet some of these tasks will be continue during phase 2 such as market intellgence and protocols.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The phase 1 project had one work package comprising 6 tasks. They were:
Task 1. Involving future users (surgeons) to get detailed knowledge on the primary medical application and establish a network of European collaboration partners for the second phase.
Task 2. Investigate competition and potential market barriers as part of cost saving estimations.
Task 3. Map complementary medical instrumentation and identify suitable business partners.
Task 4. Establish protocols and indications on overall health, societal and environmental benefits to be used in clinical trials in second phase.
Task 5. Verify and compile economical effects (incl task 2,4) as basis for a pricing strategy and analyze the profitability obstacles that may exist when going into phase three.
Task 6. The Business Plan based on task 1-5 will present business and market opportunities.

The major result is that we have found feasibility for our innovation project. We have gone through organizational change as we merged with another company, Senzime, which was not part of the phase 1 project ut served the purposes of our innovation project. It gave us access to more resources both in terms of infrastructure, human resources and finances.

Task 1 gave us a bigger network of interested surgeons and clinics that wants to test and use the innovation and we have identified demonstration partners for phase 2
Task 2 gave us a better picture of competing solutions which has given us a better judgement of the market value and how we should introduce the innovation to the market after phase 2. We have also realized that we need further market intellgence during phase 2. A major market barrier is the knowledge about the new solution - it is a challenge to spread the knowledge and get understanding of how the technology works
Task 3 gave us the merge with Senzime and that developed also our product and added clinefenz...
Task 4 gave us a better view of measurements to be confirmed and used during phase 2 and the benefits and effects in the health sector. We will need to go further with this in phase 2.
Task 5 has given us input to our future pricing strategy
Task 6 is summarizes the results of phase 1 and makes the analysis of the business case

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Functional effects
o Faster diagnostics in postoperative monitoring.
Medical effects
o Shorten patients hospitalisation time after surgery.
o Reduce the number of serious complications that requires additional medication or surgery.
o Improve intensive care throughput, enabling shorter hospital queues and hospitalisation times.
Economic effects
o Save time spent on surveillance by health care professionals.
o Reduce each patients time in expensive intensive care.
o Shorten patients sick leave from work.
Environmental effects
o Reduce the spread of antibiotics and other pharmaceuticals used for treatment of post surgery inflammations.

The business effects in measurable terms that we aim to reach are:
o Four percent of the global colorectal cancer surgery market (15% in Scandinavia, 5% in Europe)
o A turnover of 1 M€ in year one after product launch, 3M€ (year two), 5 M€ (year three), 10 M€ year four, >20 M€ in year five, and >100 M€ within ten years.
o The profit in year two will be 5% of sales; year three it is 10% of sales, year four it is 20%, and year five 30% of sales. A significant part of the revenue is reinvested in R&D, marketing and sales during the first years of commercialisation.
o We aim for an annual R&D budget corresponding to 20% of sales in order to maintain a leading position and to exploit new applications (hearth, liver, kidney etc).

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