Periodic Reporting for period 1 - GlucoBeam (GlucoBeam: A portable device for pain-free glucose self-monitoring in diabetic patients)
Berichtszeitraum: 2016-02-01 bis 2016-05-31
Over the past ten years, RSP Systems has refined Raman technology by developing the optical system, electronics, data analysis algorithms, and know-how of in-vivo measurements required to non-invasively measure blood glucose. Several R&D breakthroughs have driven the company towards its current positioning at pre-commercial readiness of our GlucoBeam device for non-invasive SMBG. It is now time to evaluate if RSP should engage into miniaturization towards a market-ready device and its clinical validation. The Phase 1 project was used to: assess if the technology and company were ready to trigger go-to market activities; to complement our network of clinical partners; to complete the market intelligence available in-house, with specific focus on the key markets, willingness to pay and business model.
During this action we:
• Demonstrated accurate performance (MARD<20%) in a realistic outpatient clinical setting
• Support the importance of adequate setting of the depth to assess the Raman spectra (patent-protected by RSP)
• Analysed Scandinavian and German markets, incl. regulatory conditions and pathways to apply for device reimbursement approvals
• Documented willingness to pay, even in patients who don’t usually perform invasive glucose checks
• Established a strategic partnering with (a) leading German and Danish hospitals
• Repositioned the business strategy accordingly with the updated market intelligence, IP landscape and freedom-to-operate.
• Demonstrated accurate performance (MARD<20%) in a realistic outpatient clinical setting
• Support the importance of adequate setting of the depth to assess the Raman spectra (patent-protected by RSP)
• Analysed Scandinavian and German markets, incl. regulatory conditions and pathways to apply for device reimbursement approvals
• Documented willingness to pay, even in patients who don’t usually perform invasive glucose checks
• Established a strategic partnering with (a) leading German and Danish hospitals
• Repositioned the business strategy accordingly with the updated market intelligence, IP landscape and freedom-to-operate.
GlucoBeam has the potential to impact health care systems by increasing patience compliance, thus lowering the costs of complications and reducing the loss of societal earnings. The direct impact of GlucoBeam counts both physical and physiological factors, for the patient and his/her surroundings. It goes from bettering the patients finger condition, to helping him/her achieving better metabolic control and increased compliance, to helping families take care of their children and elders through pain free measurements.
Our strategy to bring an adjunctive device to the market allows both to shorten time-to-market and to rapidly monetize our disruptive technology, empowering RSP to cover its medium term innovation strategy. In sum, GlucoBeam is targeted at a billion global market and its commercialization will represent an aggregate turnover of approx. €253 million over the 5 years post-project. It has the potential to reach double digit billion savings for EU healthcare system and will lead to significantly improved life quality for diabetes patients
Our strategy to bring an adjunctive device to the market allows both to shorten time-to-market and to rapidly monetize our disruptive technology, empowering RSP to cover its medium term innovation strategy. In sum, GlucoBeam is targeted at a billion global market and its commercialization will represent an aggregate turnover of approx. €253 million over the 5 years post-project. It has the potential to reach double digit billion savings for EU healthcare system and will lead to significantly improved life quality for diabetes patients