Periodic Reporting for period 1 - KING (An avant-garde measuring principle based on the potentiometric method using signals from the kidney to monitor hospitalised patients water-volemic state)
Reporting period: 2018-11-01 to 2019-02-28
At Kardia, we target the complex confirmatory diagnosis and management of complications in Intensive Care Units (ICUs) with a revolutionary monitoring device -K.IN.G®- to inform of the patient status accurately and in real time.
Most commonly used tests (blood pressure, urine output, central venous pressure, cardiac output, central venous oxygen saturation and dynamic indices) might drive to an inaccurate diagnosis as they dismiss autoregulation in regional organ circulation. This technical challenge can have fatal consequences in high risk patients and extend the length of ICU stay.
Most commonly used tests (blood pressure, urine output, central venous pressure, cardiac output, central venous oxygen saturation and dynamic indices) might drive to an inaccurate diagnosis as they dismiss autoregulation in regional organ circulation. This technical challenge can have fatal consequences in high risk patients and extend the length of ICU stay.
We evaluated the technical tasks, commercial activities and clinical studies we need to perform to achieve TRL9.
To offer a competitive monitoring device we will optimize our prototype in size, cost and performance. We identified all the services that we need to outsource, and the best potential suppliers for the equipment and the material we need.
The pilot clinical studies so far validate the potential of our device, and through this project, we have designed a larger scale clinical validation to strengthen the claims of our value proposition.
We aim to commercialize after Ph2 project in Europe and USA. To ensure that we will be able to do it we have studied the clinical care market within these regions and got informed of the European and USA laws we will need to comply.
Now we have calculated the investment needed to carry out these activities and how much we need to cover from Kardia’s current revenues.
To offer a competitive monitoring device we will optimize our prototype in size, cost and performance. We identified all the services that we need to outsource, and the best potential suppliers for the equipment and the material we need.
The pilot clinical studies so far validate the potential of our device, and through this project, we have designed a larger scale clinical validation to strengthen the claims of our value proposition.
We aim to commercialize after Ph2 project in Europe and USA. To ensure that we will be able to do it we have studied the clinical care market within these regions and got informed of the European and USA laws we will need to comply.
Now we have calculated the investment needed to carry out these activities and how much we need to cover from Kardia’s current revenues.
ICUs represent the largest cost in hospitals, up to 20% of their total budget. The main driver is the length of stay and thus, reducing it is crucial to reduce expenses.
Our company has reinvented a method to monitor urine volume and electrolytes in real-time, to allow knowing the hemodynamic status of the patients and identify an underlying disease, ultimately decreasing the length of ICU stay, increasing patients’ survival rate and reducing their morbidity.
This innovation will have a high impact on our company. In five years after product development, we expect to sell 3.760 devices which will bring an accumulative profit of 22,7 Mn, representing 55% of Kardia revenues, a ROI of 4, and will allow us to hire 23 new employees.
Our company has reinvented a method to monitor urine volume and electrolytes in real-time, to allow knowing the hemodynamic status of the patients and identify an underlying disease, ultimately decreasing the length of ICU stay, increasing patients’ survival rate and reducing their morbidity.
This innovation will have a high impact on our company. In five years after product development, we expect to sell 3.760 devices which will bring an accumulative profit of 22,7 Mn, representing 55% of Kardia revenues, a ROI of 4, and will allow us to hire 23 new employees.