Periodic Reporting for period 1 - CryO2 (Telemetric control of oxygen delivery for therapy optimization and adherence)
Reporting period: 2017-08-01 to 2017-11-30
Chronic Obstructive Pulmonary disease is expected to be the third leading cause of death worldwide by 2030. It has a high socio-economic impact on society, with total annual financial burden in Europe nearly of €50 billion. Long Term Oxygen Therapy (LTOT) is the gold standard treatment. It is estimated 1M patients in the USA and 600,000 in EU receive LTOT treatment, with an estimated cost of €4billion/year jointly. However, LTOT patient’s adherence to O2 therapy is low and O2 dosage adjustments not always fitting the patient’s O2 needs in a timely manner causing more exacerbation episodes, consequently increasing the healthcare expenses, depression episodes and increased mortality in such patients.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
We have developed a feasibility study for 4 months, focusing on: Technically, we have identified the CPU multilayer miniaturization specifications and technical requirements for wireless sensor connectivity and integration of our telemetric system. We analyzed how it will be integrated the electronic algorithm to allow the monitoring and the O2 efflux and regulation on O2 tanks tests for a remote working. Commercially, we assessed the targeted markets, barriers and competitors to prepare our marketing strategy. We have also performed a Freedom-to-Operate analysis and designed our IPR strategy. We have assessed the CRYO2 system business model as a service and set up final prices and profits. From a financial perspective we estimate an investment required to bring CRYO2 to market of 1.5M€ that will render revenues of 7M€ with a ROI of 3.5% in 2024 and will allow us to increase our workforce with 31 new employees.
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)
CrYO2 will be the first device in the market to automatically adjust oxygen delivery. It personalizes the O2 delivery for patients with COPD through the continuous monitoring of vital O2 physiological variables, reducing the hospitalization rates by 20% and the O2 consumption by 30%, lowering costs for the European healthcare systems. Moreover we will disrupt the Oxygen market moving the commercialization of oxygen from a commodity to a service.