Startup Receives US$175K Grand Prize for Ultrasonic Non-invasive Ocular Drug Supply System
LOS ANGELES & SINGAPORE, October 21, 2021–(BUSINESS WIRE)–MedTech Innovator, the most important accelerator of medical gadgets on the earth, in partnership with Asia Pacific Medical Expertise Affiliation (APACMed), the primary and solely regional affiliation to offer a unified voice for the medical expertise trade, at this time introduced Opharmic Expertise because the winner of its 2021 Asia Pacific Accelerator program. The profitable firm was decided by a stay digital viewers vote on Oct. twentieth through the MedTech Innovator Asia Pacific 2021 Grand Finals hosted by MedTech Innovator in partnership with APACMed.
Based mostly in Hong Kong, Opharmic is growing a transformational ultrasonic non-invasive ocular drug supply gadget with the aim of changing intravitreal injections. Greater than 500 million sufferers worldwide undergo from eye illnesses like macular degeneration and diabetic retinopathy. Whereas there are efficient drugs that may enhance these illnesses, as much as 30% of sufferers refuse these remedies as a result of they require direct injection into the attention.
“The MedTech Innovator Asia Pacific Accelerator program is a really distinctive program that not solely offered us with priceless industrial insights but additionally allowed us the uncommon alternative to faucet into a really unique community through its company mentorships,” mentioned Dr. Langston Suen, founder and CEO of Opharmic. “We’re honored to be acknowledged because the 2021 Asia Pacific Grand Prize winner, and this funding will help Opharmic as we attempt in the direction of our mission of offering a non-invasive different to horrifying eye injections for sufferers all around the world.”
Chosen from a pool of greater than 500 candidates, Opharmic was awarded the US$175,000 non-dilutive grand prize to advance its enterprise targets and mission to enhance future well being outcomes of sufferers within the Asia Pacific area. The corporate was additionally awarded a one-year membership to APACMed and was the recipient of the Cambridge Consultants Product Growth Award, the place they’ll obtain unique technical and session providers from Cambridge Consultants. Biorithm, Miraqules, and VPIX Medical additionally participated within the group’s Accelerator program and competed within the Grand Finals, every receiving a US$10,000 money prize.
“This a groundbreaking time for innovation, disruption, and enchancment within the medical expertise trade,” mentioned Paul Grand, CEO of MedTech Innovator. “I’m proud to announce Opharmic as this 12 months’s Asia Pacific MedTech Innovator competitors winner for its ultrasonic non-invasive ocular drug supply gadget. As we speak’s competitors was consultant of the brand new and thrilling applied sciences rising within the APAC area that might convey vital worth to sufferers and the healthcare trade. We look ahead to persevering with our work to establish the highest medtech startups within the area and connecting them with a community of potential companions and buyers to assist them obtain their targets.”
“A honest congratulations to Opharmic on profitable the APAC MedTech Innovator title,” mentioned Harjit Gill, CEO, APACMed. “The Asia Pacific area is a sizzling spot for medtech innovation and all the finalist firms who participated in at this time’s competitors are growing breakthrough applied sciences with the potential to enhance affected person lives. APACMed is proud to help the MedTech Innovator APAC program and we look ahead to watching Opharmic’s progress as they advance their distinctive well being answer in the direction of commercialization.”
“As a decide of at this time’s competitors, I used to be thrilled to see Opharmic’s gadget for ultrasonic non-invasive ocular drug supply be acknowledged,” mentioned Peter Hawkes, senior director of selling, Ethicon, Johnson & Johnson. “Johnson & Johnson is a proud accomplice of the MedTech Innovator APAC Accelerator, and we’re desperate to proceed to assist advance new and rising medical applied sciences that display real-world utility and worth.”
“Congratulations to the winners and finalists of the MedTech Innovator Asia Pacific competitors,” mentioned Audrey Lok, director of healthcare and biomedical, Enterprise Singapore. “We’re delighted to work with MedTech Innovator once more this 12 months, to establish and help rising healthcare improvements from world wide. Singapore has established a vibrant biomedical ecosystem and we welcome world startups to hitch us right here within the ideation and commercialization of groundbreaking options not only for Singapore, however regionally.”
MedTech Innovator rigorously chosen 20 best-in-class startups from throughout Asia Pacific for its 2021 program, offering the businesses with publicity to trade leaders and awarding over US$300,000 in money prizes and in-kind awards. Throughout its ultimate competitors, MedTech Innovator additionally introduced the winners of a number of further awards.
Biorithm, an organization growing a distant fetal monitoring gadget, was introduced winner of Enterprise Singapore’s (ESG) Startup SG award, comprising a SGD$30,000 grant prize and entry to intensive assets and networks inside Singapore’s startup ecosystem. Moreover, they are going to be fast-tracked to ESG’s SLINGSHOT world startup competitors taking place on the Singapore Week of Innovation & TeCHnology (SWITCH) in November, the place the High 100 will pitch their options on a world stage and stand to win further prizes.
Nayam Improvements, an organization growing intraocular lenses which might be customized earlier than or after implantation utilizing a secure mild dose was awarded one-year of residency at JLABS @ Shanghai, a state-of-the-art facility that may accommodate greater than 50 start-ups throughout the prescription drugs, medical gadget, shopper, and well being tech segments.
Nayam Improvements additionally acquired the Sterile Barrier System Design & Growth Award from Oliver Healthcare Packaging, the place they’ll obtain unique technical and session providers from Oliver Healthcare Packaging within the growth of the sterile barrier system for his or her gadget.
Adiuvo Diagnostics, an organization growing a fast label free multispectral imaging gadget to detect and classify pathogens on wounds, was introduced the winner of the MedTech Innovator Asia Pacific Finest Video Award with a US$5,000 prize.
Judges of the 2021 Asia Pacific ultimate competitors included: Peter Hawkes, senior director of selling, Ethicon, Johnson & Johnson; Yuji Takamiya, senior supervisor, Olympus; Ryota Umegaki, supervisor enterprise growth, Nipro Medical Company; Julie Tay, senior vp and managing director, Asia Pacific, Align Expertise; Florian Belohlavek, senior vp and head of technique, Asia Pacific, Siemens Healthineers.
MedTech Innovator works carefully with stakeholders throughout the trade to foster the expansion of early to mid-stage startups. MedTech Innovator’s 2021 Asia Pacific program sponsors embrace Johnson & Johnson Medical Gadgets Corporations, Align Expertise, Nipro Medical Company, Oliver Healthcare Packaging, Olympus Medical Programs Group, Siemens Healthineers, Cambridge Consultants, and Enterprise Singapore. The MedTech Innovator Asia Pacific Program is held in partnership with APACMed.
About MedTech Innovator
Based mostly in Los Angeles, Calif., MedTech Innovator is the most important accelerator of medical gadget firms on the earth and the premier nonprofit startup accelerator within the medical expertise trade.i Its mission is to enhance the lives of sufferers by accelerating the expansion of firms which are remodeling the healthcare system. MedTech Innovator matches healthcare trade leaders with revolutionary early-stage and rising progress medtech firms for mentorship and help.
For extra details about MedTech Innovator, go to https://medtechinnovator.org/ and observe @MedTechAwards on Twitter. To obtain trade insights and highlights about MedTech Innovator’s present and alumni participant firms, subscribe to its month-to-month publication.
Based in 2014 and headquartered in Singapore, APACMed represents producers and suppliers of medical gear, gadgets and in vitro diagnostics, trade associations and different key stakeholders related to the medical expertise trade in Asia Pacific.
Offering a unified voice for the medical gadgets and in-vitro diagnostics trade in Asia Pacific, APACMed works proactively with bilateral, regional, and native authorities our bodies to form insurance policies, display the worth of medical expertise and promote regulatory harmonization. APACMed strives to advertise digital well being innovation and influence coverage that advances healthcare entry for sufferers by participating with medical gadget associations and corporations in Asia Pacific.
APACMed can also be host to the annual Asia Pacific MedTech Discussion board.
i Gibbs, M., Johnson, B., Silva, B. A., & Berube, Ok. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/weblog/life-science-accelerators-insights/
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