Medilink News 20th Anniversary Edition Medilink News NOE 2017f - Page 10

THE FUNDING JOURNEY LEARN FROM FUNDING EXPERTS This event provides life science companies with all you need to know about the funding journey from early stage proof of concept grants to equity and raising finance through IPO. In addition to top professionals from funding agencies, Business Angel Groups, Fund Managers, VCs and IPO specialists, you will hear from CEOs / Entrepreneurs who have successfully secured grants / investment in the past and are prepared to share their experience with you. Whether you are a CEO/CFO/CTO or COO you will meet a remarkable range of experts under one roof to take you through the funding journey from early stage proof of concept grant funding to equity and IPO. Companies that have successfully secured a variety of grants / investment funding will be on hand to share their experiences with you. For more info and to book, visit funding-journey-tickets-37271863146 A CASE STUDY Medilink member Viamed is developing a wearable, self- adjustable, wireless probe to monitor oxygen levels in children. The device is embedded with paediatric software algorithms which can be used in both children and adults. The Small Business Research Initiative (SBRI) for Healthcare is delivered in partnership with the Academic Health Science Network (AHSN) - in this instance the Yorkshire and Humber AHSN. Steve Nixon, director at Viamed, said: “We are delighted with the SBRI Healthcare award and the opportunity to make a real difference by delivering solutions that should improve the quality of children’s lives.” Paediatric long term conditions such as severe asthma, cystic fibrosis, congenital heart defects and neonatal lung conditions lead to severe morbidity or death if oxygen “As part of the project, Medilink’s saturation levels are not monitored Innovation team helped implement and appropriate action taken. sophisticated best practice Currently there are no optimised methodologies to identify and solutions to this problem. prioritise needs that are translated into design inputs. Viamed’s innovation promises improved outcomes to be delivered “This increased probability of to patients. The Keighley-based commercial success for the company received the SBRI device while significantly reducing Healthcare award for its potential commercialisation and technical risks value to the patients and the health during the development phase.” service. 10 The project took off with a six month feasibility phase and has now moved on to a more detailed product development. The SBRI Phase one contracts for feasibility testing are valued at up to £100,000 and last for six months. Phase two contracts for prototype development are worth up to £1 million over one year. At present, the project team have completed a detailed assessment of users’ needs. This has already identified some surprising findings that have opened doors to new innovations that were previously not apparent.