iGan Partners | February 08, 2022
iGan Partners,Canada'sleading healthcare technology investors, has joined forces with Faisal Belhoul, aDubai-based investments professional and entrepreneur, to launch aUS$250MiGan Arabia regional fundto drive MedTech innovation across theMiddle EastandNorth Africaregion.
iGan Arabia will focus on investing in AI/Cloud-enhanced medical devices and digital health technologies that improve patient outcomes and reduce healthcare cost. The fund targetsUS$250Mthrough limited partnerships with an additionalUS$250Min co-investments.
The first four investments have been identified to drive breakthrough MedTech in the region. These areExact Imaging, the world's first micro-ultrasound for unmatched resolution of prostate cancer;Okadoc, the region's most advanced digital patient management solution;eSight Corporation, wearable electronic vision devices for legally blind people challenged by eye diseases; andMolecuLight, the world's first handheld imaging device enabling clinicians to visualize bacteria in real-time for advanced wound care. All these already have regulatory approval and are scaling world-wide.
H.E.Jean-Philippe Linteau, Consul General ofCanadainDubaiand the Northern Emirates, commented: "I am pleased to see Canadian and UAE health innovation leaders partner together to create iGan Arabia. The UAE has proven to be an early adopter of innovation. This new partnership will help our healthcare technology companies grow and succeed globally."
"We see the GCC as a transformative healthcare region. We have identified and uncovered several innovative opportunities across Digital Health, Connected Medical Devices, Healthcare IT and Artificial Intelligence. These are sectors that iGan brings a lot of expertise and we understand what it takes for companies to scale and succeed. Through this first of its kind Fund, we will invest locally and will showcase the GCC's healthcare innovations to the world."
Sam Ifergan, Founder & CEO, iGan Partners
Faisal Belhoul, Co-Chairman, iGan Arabia,added: "Through iGan Arabia we aim to invest in start-ups and other healthcare companies, especially in the GCC, and help them evolve as the best-in-class. We will support not only their operations in the region but also help scale up their operations to key markets inNorth America,Europe, and LATAM. iGan Arabia will help establish GCC as a world-class MedTech hub that will create thousands of new jobs and add value to the economy."
Nemaura Medical, Inc | January 14, 2022
Nemaura Medical, Inc.(“Nemaura” or the “Company”), a medical technology company focused on developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announces the launch for employers and insurers of Miboko, a new metabolic health program using a non-invasive glucose sensor along with an AI mobile application. The Company’s goal is to achieve broad adoption of Miboko as a form of preventative medicine for a wide user base through these commercial channels and is aligned with the general trend in consumer digital healthcare.
“Introducing Miboko to the population at-large through employers and insurers will allow Nemaura to reach a much wider audience in much faster fashion than solely relying on a direct-to-consumer campaign, and in the Western world, these institutions are the most reliable gateway toward wider adoption of preventative health maintenance practices. Being aware of one’s metabolic health and how the body uniquely regulates sugar is key to one’s health. Patients, of course, want to be as informed as possible about their health, and employers and insurers are also aligned with patients in that regard, given the massive productivity losses and healthcare costs at stake on a larger scale across their employee and insured base, respectively. Miboko can help address this substantial market opportunity through our non-invasive, revolutionary approach to healthcare.”
Nemaura CEO Dr. Faz Chowdhury
Nemaura has also submitted a Premarket Approval (PMA) to the United States Food and Drug Administration (FDA) for approval of its glucose monitoring device as a Class 3 medical device. The Company’s PMA was the subject an on-site FDA bioresearch monitoring (BIMO) audit that generated a single Form 483 observation, for which the Company has committed to a full response this quarter. A follow-up BIMO audit of the clinical investigator site has also been scheduled for the current financial quarter.
Miboko has been in development for nearly two years and addresses a significant mass market opportunity that the Company believes could benefit roughly a third to half of the population by using a non-invasive glucose sensor to measure and monitor a user’s metabolic health score, which is based on glucose tolerance or insulin resistance. Those with prediabetes or obesity concerns -- or even those looking to maintain better health through more careful glucose control -- may benefit from such a metabolic health program. How one’s body metabolizes sugar is the main influencer of one’s appetite, weight, sleep quality, and energy and mood levels and even plays a critical factor in chronic diseases (beyond just diabetes), such as heart disease and dementia.
At the heart of the Miboko offering is Nemaura’s non-invasive glucose sensor that is designed to measure insulin resistance, reported as a metabolic health score, and priced to be highly affordable with the program running for an initial two-year period. The program also uses a mobile app to provide users with personalized information by tracking their metabolism. A user can find out how well their body responds to sugar through their metabolic health score — and how what they eat and what they do every day uniquely affects their metabolic health.
Along with the capability to follow metabolic health progress on the app, Miboko users receive weekly and monthly reports that show and explain their body’s unique metabolic health score and a breakdown of how each of their habits are impacting their overall health and wellbeing. Suggestions for small, manageable changes to daily routines, such as eating more or less of a certain kind of food or exercising at a different time of day to coincide with peak energy levels, provide Miboko users with personalized, usable data.
About Nemaura Medical, Inc.
Nemaura Medical Inc. is a medical technology company developing and commercializing non-invasive wearable diagnostic devices. The company is currently commercializing sugarBEAT® and proBEAT™. sugarBEAT®, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor (CGM) providing actionable insights derived from real time glucose measurements and daily glucose trend data, which may help people with diabetes and pre-diabetes to better manage, reverse, and prevent the onset of diabetes. Nemaura has submitted a PMA (Premarket Approval Application) for sugarBEAT® to the U.S. FDA. proBEAT™ combines non-invasive glucose data processed using artificial intelligence and a digital healthcare subscription service and has been launched in the U.S. as a general wellness product as part of its BEAT®diabetes program that is currently undergoing pilot studies.
Additionally, Nemaura has launched Miboko, a new metabolic health and well-being program using a non-invasive glucose sensor along with an AI mobile application that helps a user understand how certain foods and lifestyle habits can impact one’s overall metabolic health and well-being. Nemaura believes that up to half the population could benefit from a sensor and program that monitors metabolic health and well-being.
The Company sits at the intersection of the global Type 2 diabetes market that is expected to reach nearly $59 billion by 2025, the $50+ billion pre-diabetic market, and the wearable health-tech sector for weight loss and wellness applications that is estimated to reach $60 billion by 2023.
BD | December 22, 2021
BD (Becton, Dickinson and Company), a leading global medical technology company, today announced it has completed the acquisition of privately held Scanwell Health Inc., a leader in smartphone-enabled at-home medical tests.BD collaborated with Scanwell to develop the app used with the recently launched BD Veritor™ At-Home COVID-19 Test, the first at-home COVID-19 test that uniquely uses a smartphone camera and app to capture and interpret results, eliminating the human subjectivity in other visually read at-home antigen tests. Scanwell will become the foundational digital platform upon which BD plans to develop at-home diagnostic tests for a range of infectious diseases including COVID-19/influenza A+B, group A strep and additional menu for detecting infections and managing chronic disease.
"The COVID-19 pandemic has accelerated the shift to new care settings, and BD is ready to deliver a smart, connected at-home diagnostic ecosystem to support traditional and telehealth providers and consumers. This acquisition will enable us to expand and scale our digital capabilities in-house to speed time to market for transformative at-home solutions now and in the future."
Dave Hickey, president of Life Sciences for BD
The Scanwell app is a key differentiator in the market for at-home COVID-19 testing. To date, no other company uses the phone's camera to capture the image of the test that is then analyzed and interpreted by the app. Other COVID-19 home tests use smartphones as part of their process, but BD Veritor™ At-Home COVID-19 Test is the first and only test to use the smartphone as the analyzer to digitally interpret the test results and provide a definitive POSITIVE or NEGATIVE digital display of testing results. The app also has the capabilities to securely store and report test results to organizations, including businesses, public health authorities and schools. The results of tests are stored in the app and can be referenced and displayed at any time by simply logging into the app.
Terms of the transaction were not disclosed. The transaction is expected to be immaterial to BD's fiscal 2022 financial results. Scanwell financial results will be reported under the Integrated Diagnostic Solutions business within the Life Sciences segment.
About the BD Veritor™ At-Home COVID-19 Test
The BD Veritor™ At-Home COVID-19 Test has not been FDA cleared or approved; but has been authorized by FDA under Emergency Use Authorization (EUA). This product has been authorized only for the detection of proteins from SARS-CoV-2, not for any other viruses or pathogens. The emergency use of this product is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of IVDs for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Federal Food, Drug and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization is revoked sooner.
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care.
STENTiT | April 25, 2022
STENTiT, a medical device company bringing a novel class of regenerative endovascular implants for the treatment of cardiovascular diseases, has closed a €1.8 million seed investment round. The funding facilitates further pre-clinical development and batch production of a regenerative stent (see video) for peripheral indications. The investment was made by Dutch investors NextGen Ventures, Brabant Development Agency and the Ten Cate Investment Company.
STENTiT is an emerging player in the field of regenerative medical devices, offering a breakthrough solution for cardiovascular interventions by developing first-of-its-kind endovascular implants with regenerative capacity. Using a catheter-based approach, these devices provide the ability to restore arteries without the need for an invasive surgical intervention. The aim is to ultimately restore the affected blood vessel from the inside out to provide a lifelong solution.
As a first target indication, the company wants to improve the treatment of critical limb ischemia. This progressive form of peripheral artery disease affects almost 5 million people in the EU and the US in which the blood flow to the foot is severely being compromised. Unfortunately, current treatment options are ineffective, resulting in amputation within 6 months in 40% of these patients.
With the regenerative stent, blood flow to the foot will be maintained by securing vascular patency using temporary mechanical support and improving long-term efficacy by inducing vascular repair, thereby preventing thousands of amputations each year.
"We are excited to receive the support of these esteemed Dutch early-stage investors. This financing round validates our vision to bring a novel class of implants that can rebuild the affected blood vessels. We are looking forward taking the next steps getting our regenerative stents ready for clinical trials. With our first product, we aim to treat millions of patients suffering from peripheral artery diseases, and save their limbs from amputation."
Bart Sanders, CEO of STENTiT
STENTiT is a medical device spin-off company from the Dutch Eindhoven University of Technology, focusing on the development of regenerative endovascular implants. These bioresorbable devices trigger a natural healing response by the circulating blood cells, in which the implant is being replaced by new vascular tissue to restore the artery from the inside-out.
Since the establishment of the company, STENTiT has received broad international recognition and awards for its high-potential approach, covering world leading stages. As the company is currently going through the next translational phases, STENTiT is on its way to fulfill its ambition to become the new standard in endovascular treatment, providing a life-changing solution for millions of cardiovascular patients around the world.