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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
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
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A summary by Little Devices That Could
Monday, October 29, 2007Boston University School of Management
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8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
3/11
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
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
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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!
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
5/11
Dr. Olson offered some greatDr. Olson offered some great
insights in deployment ofinsights in deployment of
global health devicesglobal health devices
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
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
6/11
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
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
7/11
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!
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
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
P LaxminarainP Laxminarain
Codman, J&J.Codman, J&J.
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
9/11
Global health technologyGlobal health technology
is not nice to do, it is nowis not nice to do, it is nowneed to doneed to do
P LaxminarainP Laxminarain
Codman, J&J.Codman, J&J.
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
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
10/11
Global health technologyGlobal health technology
is not nice to do, it is nowis not nice to do, it is nowneed to doneed to do
P LaxminarainP Laxminarain
Codman, J&J.Codman, J&J.
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.
8/14/2019 Medical Technologies, Collaboration, and the New Entrepreneur
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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