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ProVee CE Mark and EU commercialisation plan

Project description

New device to alleviate the symptoms of benign prostatic hyperplasia

Based in Dublin, ProVerum Limited focusses on the development of novel minimally invasive technologies to treat benign prostatic hyperplasia (BPH), a common condition in older men causing difficulty with urination. The EU-funded ProVee project is developing an implant that alleviates the symptoms caused by this condition. It offers the patient relief through a five-minute, outpatient procedure to implant the ProVee device under local anaesthetic. Once implanted, the ProVee is well tolerated. What is more, early data suggests it has an excellent safety profile. The device is set to significantly improve the quality of life of those affected by BPH.

Objective

ProVerum Limited, an innovative Dublin based SME focused on the development of novel minimally invasive technologies to treat Benign Prostatic Hyperplasia, a common condition in older men causing difficulty with urination with a profound deterioration in quality of life.

The company’s first product (called ‘ProVee’) is a self-expanding implant that alleviates the symptoms caused by BPH.

Benign Prostatic Hyperplasia is an enlargement of the prostate gland which causes impingement upon the urethra, the tube which eliminates urine from the bladder. Sufferers present with Lower Urinary Tract Symptoms (LUTS), including difficulty in urinating and urinary retention causing a frequent urge to urinate day and night and having a profound effect on quality of life.

BPH is extremely common in men and is the number 1 reason men visit their urologist both in the US and Europe, with 19M men treated for BPH each year in Europe and 12M men treated for BPH each year in the US.

ProVee offers the patient relief from BPH symptoms through a simple, minimally invasive, 5-minute, outpatient procedure to implant the ProVee device under local anaesthetic. Once implanted, the ProVee addresses urinary problems, is well tolerated and early data suggests has an excellent safety profile

Following this H2020 EIC Accelerator project, the technology will be at TRL 8, with clinical evidence from a 50 Patient CE Trial, CE Mark approval and further commercialisation will enable the treatment of 70,000 patients in Year 4 post project.

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Keywords

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Programme(s)

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Topic(s)

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Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

SME - SME instrument

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) H2020-EIC-SMEInst-2018-2020

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Coordinator

PROVERUM MEDICAL
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 2 499 999,00
Address
ST JAMES HOSPITAL
DUBLIN 8 Dublin
Ireland

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Ireland Eastern and Midland Dublin
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 3 750 635,00
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