Medical Technologies, Collaboration, and the New Entrepreneur

8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur

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Medical Technologies,Medical Technologies,Collaboration, and theCollaboration, and the

New EntrepreneurNew EntrepreneurA summary by Little Devices That Could

Monday, October 29, 2007Boston University School of Management


2/11

A summary by Little Devices That Could

Monday, October 29, 2007Boston University School of Management

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The Line UpThe Line Up

Jonathan Rosen

ITEC, BU

Moderator

Bernard HaffeyBernard Haffey

NDO SurgicalNDO Surgical

Barry Solomon, PhDBarry Solomon, PhD

Circe Biomedical IncCirce Biomedical Inc

P LaxminarainP Laxminarain

Codman, J&J.Codman, J&J.

Kristian Olson

CIMITAaron SandoskiAaron Sandoski

Norwich VenturesNorwich Ventures


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Dr. Olson offered some greatDr. Olson offered some great

insights in deployment ofinsights in deployment of

global health devicesglobal health devices

Kristian Olson, MD is ProgramLeader, Global Health Initiative,

Center of Integration of Medicineand Innovative Technology (CIMIT)

Kicked off the meeting by pointingout the constant challenge of

identifying the of any particularmedical technology

Kristian Olson

CIMIT

PAYERS

CHOOSERS

USERS

All 3 areoften

differententities!


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Another second challenge in global health technologythat his group comes across with is the regulatory

challenge. How do you speed up deployment to those who need

it the most, while maintaining safe regulatoryframeworks?

Who pays for the regulatory work, and under what

umbrella? The FDA? The WHO?

Kristian Olson

CIMIT

Speed

Regulation


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Helping babies take their firstHelping babies take their first

breath using a marketbreath using a market

appropriate bag valve maskappropriate bag valve mask

in post-Tsunami Indonesiain post-Tsunami Indonesia Some babies are born needing assistance to take their

first breath to get going

Domestic product costs $50+ New device developed made available for $7 Launching the technology required training and

leveraging of the regions extensive midwife network Dr. Olson trained 350+ midwives to use the device Created an entrepreneurial edge for those midwives

who were certified in using the device

Kristian Olson

CIMIT


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Kristian Olson, MD is ProgramLeader, Global Health Initiative,

Center of Integration of Medicineand Innovative Technology (CIMIT)

Kicked off the meeting by pointingout the constant challenge of

identifying the of any particularmedical technology

Kristian Olson

CIMIT

PAYERS

CHOOSERS

USERS

All 3 areoften

differententities!


8/11

Global health technologyGlobal health technology

is not nice to do, it is nowis not nice to do, it is nowneed to doneed to do

Expected to cover Codman, J&Js experience withinstitutional collaboration, P Laxminarain went off scriptand highlighted the remarkable opportunities globalhealth presented to business and product developers inthe space




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Insight: An opportunity for reverse technology transfer

Highburden of

diseaseXYZ

Orphanstatus

Low

ALSO REDUCES

BURDENS HERE

INVESTING HERE

RAREburden ofdisease

XYZ

Mfg costs

Larger poolof patients

OptimizedProduction

and Discovery


10/11





Insight: The growing BRIC economies has launched a globalrace to tap into these markets

Source: Gapminder

Old school investing:High value devices

21st century global investing:

Market appropriate technology:Market appropriate technology:

We have barely begun torealize the size of the hugeiceberg under the water for

this technology.


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Mr. Sandoski held the establishmentsMr. Sandoski held the establishments

concerns about developing world markets, butconcerns about developing world markets, but

offered some compromise in how they look atoffered some compromise in how they look atthese types of venturesthese types of ventures

We are seeing more and more plans that showdeveloping world market opportunities

You have to address: The distribution network: What is it? How do you fit?

Partners: It helps a lot if you have a large partners to help you onthe way. The only partner that I know of is the Gates Foundation.

Convincing argument: Show us a distribution system,and a contribution by someone like the Gates

Foundation, and we can think about investing in this

type of space.

Aaron SandoskiAaron Sandoski

Norwich VenturesNorwich Ventures

Medical Technologies, Collaboration, and the New Entrepreneur

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