healthtech innovation qld 9 dec14 event
TRANSCRIPT
Healthtech Innovation Queensland
9th December 2014 MeetUp at TRI Translational Research Institute
Showcasing 5 excellent Health and Medical Start-ups
Thankyou for supportingHealthtech Innovation Queensland
We are here to:Build a dynamic healthcare innovation
community in QueenslandFoster, attract, retain and globally
commercialise healthtech start-upsMake a difference to individual & community
health & wellbeing
Entrepreneurs Transforming Healthcare
Startup Health USA Check out this excellent video to see our vision for this grouphttps://www.youtube.com/watch?feature=player_detailpage&v=oLjtIYEQM_c
Healthcare Innovation InvestmentAround the World is on the Move
In the USA alone
• $5 billion invested in digital health alone the 1st 3 Qtrs 2014
• Funding to nearly double year-over-year
Healthcare Innovation in Australia
• Australia’s health tech start-up scene is active • Funding & resourcing remains a major issue for start-ups
• No dedicated healthcare incubators and accelerators
• We are planning to start Healthtech weekend workshops in the New Year with a focus on investment readiness and growth strategies
What Can We Do to Make Queensland a Healthcare Innovation Hub?
We MUST • Get researchers, innovators, government,
corporates and investors collaborating, supporting and investing in the sector
• Build national & international networks and strategic alliances
Welcome to the following Healthtech Queensland Start-ups
Panel
Dr Carrie Hillyard, Scientist, VC, Deputy Chairman of the Mater Medical Research Institute , Chairman FizzioFit, Fitgenes and more
Dr Clarence Tan, Asia Pacific Ambassador Singularity University , Angel Investor, CEO and Chairman, Bond Wireless , Adjunct Professor Bond /Griffith Universities
Bernie Woodcroft, Director iLab
QHeart MedicalInnovative Heart Therapy
Peter W Walsh, Ph.D.CEO & PresidentQHeart [email protected] Copyright QHeart Medical 2014
• Heart failure (HF): 5.7M Americans, 8M EU, 350K AU.• Incidence increasing ~10% pa.• 70% of HF patients are hypertensive.• 26% are in Class III HF and highly unserved.• 1.8 million patients US & EU in Class III HF unserved.
(hypertension without severe aortic disease) (~47K AU).
• DRH: 17M Americans, min. 10% unserved.• A large emerging unserved market.
The Problem: Heart Failure
Secondary Heart Pumpis the expansion and contraction of the aorta which reduces
heart load and drives coronary blood flow.
Left Coronary Artery
Aorta
• Aortic stiffness 77% higher in hypertensive HF suffers (Hundley et al, 2001).
The Solution: BioQ CApassive recoil extra aortic balloon counterpulsation
• Gas filled extra aortic balloon.• Gas compresses and expands in response to systolic and diastolic aortic load (low fatigue).• Subcutaneous inflation port allows adjustment on routine visits to cardiologist.
• Novel extra-aortic balloon (EAB) counterpulsation device.• Reduces aortic stiffness and restores 2nd heart pump (increase
aortic expansion and contraction).• Fully implanted, self-powered, no pump or control system, no
leads, non blood contacting, minimally invasive.• Proof of concept in animal studies:
– Reduced pulse (27%) & mean pressure (10%), & significant increase in left coronary artery blood flow (up 39%).
– Chronic safety study data over 2 months (non-GLP).• Failure mode safe, cost effective.• No other product that directly restores aortic biomechanics,
restoring blood pressure to normal levels.
BioQ CA Features
Current Activities• Ethics approved at Indian Hospital for first-in-man pilot
clinical study (for study in Q1 2015).– funded by an Australian-India Council Grant via
UNSW.• Prep work for pilot clinical study at Princess Alexandra
Hospital (PAH) Brisbane (Q1-Q2 2015).– funded by Qld Visiting Medical Officer Trust Grant via
PAH.• Capital raising prep work and offer Q1 2015.
– Product refinement and clinical trials.– Exit: trade sale or partnership with large medtech
player.• Exploring partnership with Chinese group.
• Innovative technology serving multiple unmet market need.• Attractive proof of concept animal data.• Issued and pending patent protection.• High potential for disruptive technology (breakthrough).• Expected reduction in clinical & medication costs. • Expected improvement in quality of life.• Competitive, simple, economical product.• Experienced team and advisors. • “one of the most exciting growth markets in medical
devices,” Sean Salmon, VP & GM Medtronic CV.
Venture Summary
Introducing
Kirsty Richardson
Gravity Fit
From Astronauts To Athletes
GravityFit Therapeutic Exercise System
Revolutionary new sciencebased on 30 years research and innovation by the founder of Core Stability
Addresses musculoskeletal conditions prevalent in modern life
Focusses on sensory effect of Gravity – developed during research with European Space Agency
IncorporatesExercise Tools
Education and Training
Online measurement, methodology and exercise progressions
Current Status
Courses
Individual Product sales (wholesale)
Kit Product sales
(retail)
• Q1 2014 - Products manufactured, courses developed, website built • Q2 2014 – Soft launch commenced with worldwide interest• Q2/Q3 2014 – Product sales, courses delivered, advocates in Aust, UK,
Europe, US, Asia• Viable business established through ‘word of mouth’ marketing
• Numerous opportunities identified to expand – funding needed to capitalise on growth opportunities specifically through extra resources
Business Growth Opportunities•Online Content Distribution•Online courses for musculo-skeletal experts/ fitness industry•Level 2 accreditation courses
•Schools/ Aged Care Programs
• International conferences
•US courses in March
•Speaking/trade slots – COPA, Italy
HEALTH SECTOR
•Pharmacy Wellness program
•Whole Body Vibration
•Corporate Health/Wellness
FITNESS/WELLNESS
•Golf•Online Golf Drills - mobile application (Golf Aust)•NZ Golf, UK Golf & US Golf
•Rotation sports•Tennis, Baseball, Cricket, Swimming
•Ballet and other performance disciplines
SPORT
Help me feel better
Help me live better
Help me perform better
The Future
GravityGroup – GravityHealth, GravityFX, GravityFitInternational Testing &Training Centres Second/ Third Gen products (sensors and mobile apps)Smart Performance Suit (wearable technology)Further innovations based on new science
Challenges
Managing quickly growing global interest
• Growth occurring without infrastructure set up/resources• Staying focussed on key goals – but still remaining flexible! • Choosing partners and not committing too early
Having a complete system rather than a simple product offering
• Building a brand rather than launching a product• Perception – more complicated to adopt system• Education & training required for system
Broad scope - application across markets
• Remaining focussed on low fruit and not grabbing at everything• Delaying new innovation/ products with applications in other markets
We hear you
World leader in screening and diagnosis
of ear disease.
Introducing Chris Jeffry
Ear disease is a big problem WHO warns health crisis if >4% QLD communities up to 80%
The Australian health system is desperate to address this issue better
Current system is cumbersome, expensive and slow
PROBLEM
PROBLEM
SOLUTION
Direct to user, bypasses complicated systemAutonomous screening without specialists
Enables parallel screeningEliminates wait times (>1 month instant)
Automated Diagnostic
s
Rural and
Remote
General Practice
Hospitals
MARKETS
Deadly Ears, Deadly Kids, Deadly Communities-> $4.1mil per year-> 4% of Qld market
Australia1,300,000 referrals per year->$26mil per yearPositive hospital balance $10.27mil-to-15mil
Queensland260,000 referrals per year
$20 per Audeara test
Gross Income: $5.2mil per year
Positive hospital balance of $2mil-to-3mil
Competitors Tympany (Ototronix) industry leader in
RnD focused on automated assessment. Standard audiometric providers
Gordon N.Stowe, Guymark, P.C. Werth and SLE
AVANT A2D+ - focused on computer assisted audiology
Sound scouts and Windows audiometer – patient focused screening
Chris Jeffery
(MBBS, B. Eng, GCELead)Robotics and small scale electronics (Australian Defence Force)
Callum Potts
(MBBS, BSc, GCELead)Former founding director of luxury apparel start-up
Logan Gardner
(MBBS, B. Eng)Signal processing and software design (Boeing)
TEAM
Execution
Bench-Top Prototype
IP SecuredTGA/FDA
Trial
Metro Hospital
Partnership
National Partnership
International Roll Out
Rural Health
OHS Industry
Public Screening
MARKETS
Currently Tested
260,000/year in Qld (1.2mil Australia)
Current Target
Known Problem, No Access
Rural, remote, ATSI communities
OH&S on mining/industrial sites (interest exists)
Access, Needs Screening
Older population
School-based children
No Access, Needs Screening
General population – hearing ability is not a
static quality
Introducing
Horst Thomson Founder
A Healthy Competition
health, productivity, profitability
health, productivity, profitability
Nick BinnsCEO, Co-founder
health, productivity, profitability
The impact of unhealthy workers on the economy
37Source: Gallup Healthways Well-being Index, 2011
US$150 billionproductivity
lost
Australia$17 billion
absenteeism
health, productivity, profitabilityThe problem for CFO
how do I know when something changes?
where am I being impacted the most?
what preventive programs work?
how do I measure the ROI?
increasing costs
health, productivity, profitabilityOur Solution
Employment Medical
Health Management
Injury Management
Exit Medical
DataAggregation
Hire to retire Target quantified health impacts
Tailor to meet need
Proactive & specific
Quantify ROI
health, productivity, profitability
• 600 US Customers• 65 Australian Customers• TTM Revenue > $38m
The opportunity
2014
2018
• Proven business model• 17 Australian Customers• TTM Growth >100%• Retention > 95%
InvestmentBootstrap, No Debt
• Scale in US• Develop predictive capability
health, productivity, profitabilityOur challenges
• Accelerate revenue growth in Australia
• Land first Customer in US
• Build Team
• Investment to establish & expand in US
health, productivity, profitability
health, productivity, profitability
Nick Binns0409 471151
a preventive maintenance platform for the most important asset
Australia’s First
Fri 13th Feb to Sun 15th Feb 2015
• 54 hours to build a startup• Brings together people with different skillsets to build
innovations and develop a commercial case around them.
• Facilitated and structured, supported by Mentors• Pitch ideas for new startup companies, form teams
around those ideas, validate them and work to develop a prototype.
• Pitch presentation by Sunday evening• 100,000+ participants, in excess 400 cities worldwide
.
• We need mentors. • 2 hours slot on Sat or Sun• Varied expertise
• We need marketing channel suggestions for participants
• Email - [email protected]
.
Going Forward!
We NEED your input to make this forum work
Please provide some feed back
Any Volunteers!
Thankyou to Our Sponsors
A progressive, multidisciplinary firm with a commitment to supporting technology & fast growth companies with global ambitions, particularly in the health tech space.
R& D Tax Incentives and Export Marketing Development Grants
Bridging loans for R&D tax incentive recipients
Digital media design and production, marketing & communications
Very Special Thanks to
For more information about ‘Healthtech Innovation Queensland’
Please contact the organizersGreg Beaver [email protected] 0413585026
Tracey Porst [email protected] 0409302694
John Driscoll [email protected] 0413967398