Periodic Reporting for period 1 - SHN (Universal Smart Hypodermic Needle for preventing reuse and accidental pricks)
Reporting period: 2017-12-01 to 2018-03-31
In the 21st century we are involved in an important global public health problem that causes millions of deaths due to the reuse and sharing of syringes, besides the lack of protection that causes accidental pricks. Use of the same syringe or needle to give injections to more than one person is driving the spread of a number of deadly infectious diseases worldwide: In 2010 up to 1.7 million people were infected with hepatitis B virus, up to 315, 000 with hepatitis C virus and as many as 33, 800 with HIV. There is an urgent need to implement safety syringes at clinical level comprising engineering features that both preclude reuse equipment and reduce the accidental sharp injuries to healthcare workers.
It is here when the Smart Hypodermic Needle (SHN) project was born as a solution to solve these unmet needs. The SHN is the only 100% automatic and retractable needle whose mechanism is activated after its unique use, making impossible the possibility of being rearmed and reused. The system is fully irreversible. Thus, VASTAGO INTERNATIONAL Ltd was created with the aim of developing and commercializing the SHN technology, which is patented through PCT / ES2010 /070401, extended to 40 countries.
It is here when the Smart Hypodermic Needle (SHN) project was born as a solution to solve these unmet needs. The SHN is the only 100% automatic and retractable needle whose mechanism is activated after its unique use, making impossible the possibility of being rearmed and reused. The system is fully irreversible. Thus, VASTAGO INTERNATIONAL Ltd was created with the aim of developing and commercializing the SHN technology, which is patented through PCT / ES2010 /070401, extended to 40 countries.
The Feasibility Study performed has focused on 3 main areas. From a technical point of view, we defined the final design of the product, the different stages of the manufacturing process with a cost analysis and identified key suppliers of all SHN components. On the commercial side we performed an analysis of our target market, assessed potential partnerships to consolidate our marketing strategy and we conducted a Freedom to Operate Analysis to ensure there are not barriers for us to operate. Finally, on the economic side, we performed financial forecasts a 5 year´s scenario beyond the project.
Our system will assure ONLY ONE USE for each needle, and will reduce the risk of accidental sharp injuries (up to 60%). Therefore, SHN will bring patient, clinician and community safety, saving lives, improving health, and preventing spread of infections. Besides social and medical benefits, SHN will reduce the treatment expenses of infections, providing up to 70% of annual cost savings to the health care systems.