Periodic Reporting for period 1 - Cupris (The first smartphone-connected medical device for a secure remote diagnosis of ears, nose, eyes and skin conditions)
Berichtszeitraum: 2018-06-01 bis 2018-09-30
Impairments in hearing and vision need a specialist consultation for a proper diagnosis. Nonetheless, in most of the cases these out-patients must visit their GP at first place. Afterwards, the GP typically refers the patient to the specialist and only then, the patient will receive a diagnose. Also, many patients will require a new appointment with the specialist for follow-ups and monitor the progression. Hence, hospitals and GP practices are overwhelmed with appointments, lowering the quality of healthcare and increasing the appointment waiting times and the health system costs.
Many specialists have detected that 65% proportion of out-patients consultations are unnecessary and could easily be handled remotely. In response, CUPRIS has developed smart-phase connected medical devices that capture images of the patient disability and send them to the specialist for remote consultation.
The objectives were focused on defining the technological, commercial and financial tasks to reach the improve the optics and the hardware of the devices, refine Cupris Software and comply with the CE mark to start commercialization in the European market by 2021.
Many specialists have detected that 65% proportion of out-patients consultations are unnecessary and could easily be handled remotely. In response, CUPRIS has developed smart-phase connected medical devices that capture images of the patient disability and send them to the specialist for remote consultation.
The objectives were focused on defining the technological, commercial and financial tasks to reach the improve the optics and the hardware of the devices, refine Cupris Software and comply with the CE mark to start commercialization in the European market by 2021.
We focused on a range of hardware for our Otoscope and Ophthalmoscope (optics and multicover). We designed the technical specifications to develop a slicker and easier to use App. We decided that we will no longer use an own 'WhatsApp' solution as we found that users have their own preferred solutions such as text, email, WhatsApp or their own communication software. We designed the specification for developing AI for the app to 'Auto suggest' conditions. We analysed the technical aspects to reach commercialization after CE-Mark approval and validation with two clinical trials. Last, we developed a financial plan for the commercialization of Cupris.
With Cupris, after 5-years of commercialization, we expect to reach sales of 50k devices to the European Market, triggering cumulative revenues, profits and employment of €29M, €20, and 14 FTE, respectively. Also, when considering the total investment of €1.84M it will give a return of investment (ROI) of €5.2 per euro invested in a 5-year period.