Periodic Reporting for period 1 - NIRT MONITOR (ACCURATE EASY-TO-USE AND NON-INVASIVE DEVICE FOR EARLY DETECTION AND MONITORING OF HEART FAILURE IN REAL TIME)
Reporting period: 2019-08-01 to 2019-11-30
- Technologically feasible: It is possible to achieve a manufacturing cost reduction of 75%. A phase 2 project addressing technical improvements as well as clinical validation and regulatory roadmap have been defined to reach the market successfully.
- Commercially feasible: NIRT monitor targets the attractive Cardiac Monitoring and Cardiac Rhythm management market ($20.85b in 2017; CAGR: 3.9% 2017- 2022). NIRT monitor’s business plan has been developed to ensure a successful market entry by Q1 2023.
- Economically feasible: The financial requirements for NIRT monitor commercialisation have been estimated and sales forecast update demonstrating the scalability of the project and the company growth.