Periodic Reporting for period 1 - ADDEGE (Dramatically improving chronic knee pain from osteoarthritis using an active steering telescopic microcatheter device in conjunction with a new ultra-low friction hydrophilic coating)
Reporting period: 2019-08-01 to 2019-12-31
Given the well documented economic benefit that comes with restored mobility in patients, the negative side effects of current drug treatments (addiction for opioids and gastrointestinal complications for NSAIDs), the expense and recovery time associated with surgery, and the high ongoing cost of drug therapy, a new treatment paradigm for osteoarthritis is clearly needed.
We, CrannMed Ltd, are developing a unique solution to revolutionise the genicular artery embolisation (GAE) treatment. Our approach involves two key innovations combined to treat chronic knee pain from osteoarthritis
1. two-stage delivery system consisting of an access and delivery catheter, and
2. a bioresorbable embolic particles which completely reabsorbs back into the body within 7 days.
1- Development of marketing and commercialisation strategy- Market segmentation and key territories of growth defined with prioritised action plan for full commercialisation strategy
2- Updating strategy and plan for operation, product development, technical development, regulatory, and reimbursement. Financial plan with 5-year projections. Establishment of key strategic relationships for business development
3- EIC project plan agreed by CrannMed leadership team including high-level Gantt, PERT and budget
4- Updated Manufacturing specification and risk register. A technical specification to facilitate the creation of commercial manufacturing plan.
5- Recruitment of partners for technical development and end user validation engaged for development and validation work
6- Updated and implemented the IP strategy
Osteoarthritis has not seen any effective new treatments in the last 20 years and similarly embolisation catheters have not seen any new technology in the same time period. Our innovation will allow interventional radiologists to safely operate deeper in the anatomy and treat arteries significantly smaller than those currently treated. Compared to currently available treatments for OA, GAE offers dramatic pain reduction in a minimally invasive solution (preferable to the surgical state-of-the-art) with a short recovery time and significant cost savings for stakeholders.