Periodic Reporting for period 1 - HEMOSNOW (HEMOSNOW: A revolution in haemostatic technology to stop bleeding in delicate surgery and enhance patient recovery)
Berichtszeitraum: 2019-05-01 bis 2019-08-31
Excessive bleeding during surgery contributes to longer hospital stays and delayed post-operative recovery. Hemostats clear the field for the surgeon to continue operating and reduce blood loss thus decreasing patients’ morbidity and mortality. Most hemostats have lengthy preparation times, are difficult to apply and stick to surgical instruments which limits their suitable application. In response, Biom’up has developed HEMOSNOWTM, a unique hemostatic powder formulation capable of stopping level 1 & 2 bleeding on the Surface Bleeding Severity Scale (SBSS) SPOT GRADE™ scale (developed and patented by Biom’up to quantitatively determine bleeding from surgical wounds). This collagen-based powder is ready to use and stops bleeding within 6 minutes. The objectives of this project are to conduct the clinical study, get certifications for marketing and upscale production to commercialize HEMOSNOWTM worldwide.
Our Feasibility Study has guaranteed the viability of the project. 1) We have done the chemical analysis and toxicological evaluation of HEMOSNOW™ applicator. We have received the IDE approval from FDA, planned the roadmap for the commercialization of HEMOSNOW™ and defined the objectives of the project. We have prepared a detailed cost analysis for the commercial release and a complete execution plan for the development of the HEMOSNOW™. 2) Our commercial plan and a FTO Analysis show that HEMOSNOWTM is freely exploitable. We have identified existing and new markets, our target segments, competitor profiles, commercial risks, and the regulatory environment to consolidate our marketing strategy. We have built our business, revenue models and the value chain. We have been working on engaging KOLs and surgeons (e.g. ) who will be involved in the dissemination activities. 3) We have prepared a financial plan, in which we conclude that HEMOSNOWTM will generate €20M cumulative profit with a ROI of 1.66 and hire 19 new employees in 2026.
Our product will have a positive impact on surgeons, patients, and healthcare facilities. Surgeons will be equipped with an effective tool for rapid and effective hemostasis. This may reduce time and the risk of surgical errors. Patients will have lower risks of morbidity and mortality. With reduced operating and recovery time, patients may also have lower healthcare costs and risks associated with blood transfusions. Healthcare Facilities will benefit as effective hemostasis may reduce costs incurred by hospitals due to blood transfusions.