Unified, holistic medical data collection and analysis platform

Project Information

UNITY

Grant agreement ID: 868266

DOI

10.3030/868266

Project closed

EC signature date 30 April 2019

Start date 1 May 2019

End date 31 August 2019

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

RAYLYTIC GMBH
Germany

Periodic Reporting for period 1 - UNITY (Unified, holistic medical data collection and analysis platform)

Reporting period: 2019-05-01 to 2019-08-31

Summary of the context and overall objectives of the project

UNITY is a cloud-based platform that combines modules for clinical trial management, electronic data capture of patient reported and treatment outcomes, and semi-automated medical image analysis. Its image analysis module can assess the performance of orthopedic implants and detect and quantify musculoskeletal conditions with an accuracy superior to human radiologists. However, we are constrained by our semi-automatic way of processing medical images. Once we develop a fully automated platform, it will be able to perform in seconds tasks that now may take up to one week. With individual modules already on the market and a prototype of the UNITY platform in place, our technology is at TRL 6.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

The feasibility study was conducted to validate our idea of deploying UNITY as fully automated platform for assessment of musculoskeletal conditions. We assessed the technical requirements and prepared a work plan that served as basis for estimating the resources and time needed to complete the project. We also performed a comprehensive analysis of the market, including competition, challenges and trends, freedom to operate and size of the market opportunity. Finally, we developed a business plan for its commercialization; it outlines the strategy to grow our market share and customer base, as well as tentative pricing and revenue models.

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)

The expected impact of the Accelerator grant to our company is very high: we project revenues growing up to €26.4 million in the first 5 commercialization years. We also forecast a growth from 25 to 54 employees and a return on investment of 5.7 by the end of 5th commercialization year.
Our platform offers a unique opportunity for more accurate, personalized treatments. This can result in savings and optimization of workflows for healthcare providers and medtech companies, currently challenged with increasing regulatory constraints. It can also improve the quality of care benefiting both, the patients and the economy.

image-1.png