Periodic Reporting for period 1 - ContiTRACE (Continuous Blood Glucose Monitoring and automated therapeutic closed loop medical device for Intensive Care Units)
Reporting period: 2019-12-01 to 2020-04-30
Intensive Care Units (ICUs) require careful monitoring of blood glucose levels and insulin infusion to keep patients within physiologically safe glucose levels. Fluctuations on blood glucose are causally related to an increased risk of death and comorbidities. However, blood glucose monitoring (BGM) is currently performed by intermittent and manual offline analysis of blood samples. This technique proves inefficient (takes 17% caregivers time), costly (€300 per patient) and increments mortality in hospital ICUs by 40% due to irregular glucose level adjustments upon measurements. After 15+ years of experience in developing glucose monitoring sensors, we at TRACE are taking on our next big step to penetrate the medical device sector with ContiTRACE, an AI powered automated non-invasive medical device for continuous BGM.
This Feasibility Study Report has proven the viability of developing ContiTRACE: a cutting-edge glucose measurement concept for ICUs, answering to patients, doctors and nurses’ requirements. This FS defines a Roadmap, Execution Plan, and Risk Analysis, comprising all necessary activities to scale ContiTRACE up to commercialisation. We have performed an in-depth analysis of the glucose monitoring devices market, and updated our Stakeholder Engagement, Commercial, Marketing, and IPR (including FTO analysis) Strategies. Finally, we have drafted Financial Forecasts on a 5-year-projection, based on a B2B business model and pricing policies.
Our patented ContiTRACE will be able to measure glycaemic levels every 2 minutes and automatically infuse insulin when needed. It will be capable of self-calibrating and will have standardized body accesses, enhancing safety and minimising discomfort for the ICU patient. This will allow 1) caregivers to decrease their workload, 2) doctors to make informed decisions and 3) healthcare systems to optimize their limited human, economic and material resources as a result of the savings of over 50% of BGM related cost.