i360medical signs deal to develop medical device solutions

Business, Life sciences and energy | Mon 21 Dec | Author – Business & Finance
medtech

Irish healthcare solutions and medical device company i360medical has announced it has formed an international alliance with an American research institute, The Feinstein Institute for Medical Research, and Singapore’s Diagnostics Development (DxD) Hub.

i360medical has established itself as supplier of outsourced ideation and R&D for a number of global and national healthcare systems and medical technology companies.

The alliance has been formed to target the development of medical device and diagnostic technologies with an initial focus on surgical procedures, intraoperative diagnostics and diabetic management.

Under this agreement, the parties will jointly identify and evaluate pipeline projects, with the goal of developing selected projects with high potential for clinical and commercialisation impact.

Derek Young, CEO, i360medical, said: “This is a very significant deal which will allow us to build a pipeline of new technology that will ultimately benefit patients around the world. Both of our partners are recognised as global leaders in their areas are we are excited to combine our networks with the goal of developing and commercialising breakthrough technologies for the healthcare of tomorrow. This will benefit Ireland by bringing more medtech start-ups here and by leveraging the combined international networks of A*Star, Feinstein and i360medical to launch these start-ups commercially into the international healthcare markets.”

Dr Sidney Yee, CEO, DxD Hub, commented: “As the aging population continues to grow, and with the rise of chronic diseases, medical diagnostics becomes increasingly critical within healthcare for early detection, prevention and treatment of diseases. The DxD Hub’s collaboration with the Feinstein Institute and i360 will catalyse the development of leading edge medical technologies and devices, and bring them quickly to global markets. This enables A*STAR to achieve value creation, value delivery and value capture from our R&D.”

Mr Kirk Manogue, vice president of the technology transfer arm for the Feinstein Institute, added: “I am delighted that the DxD Hub, i360medical and the Feinstein Institute have concluded this agreement to collaborate in identifying, developing and advancing the adoption of new medical technologies that improve healthcare and patient outcomes around the world.”

The Feinstein Institute for Medical Research is the research arm of the North Shore-LIJ Health System in New York and comprises of 1,500 clinicians, scientists and staff who work in laboratories and clinical research programs throughout the North Shore-LIJ Health System.

The DxD Hub, which is a national initiative led by Singapore’s Agency for Science, Technology and Research (A*STAR), and i360 will leverage this alliance to conduct clinical studies and product rollout in the Feinstein Institute’s clinical labs, thereby gaining market access to the US.

The collaboration will also enable the DxD Hub and i360 to serve as gateways to Singapore and the rest of Asia, as well as the European Union markets respectively.

Image: Torley