CN Bio and Medovate parade innovation and commercial clout
Organ-on-chip company CN Bio is expanding fast into the US and Europe having raised significant capital and has entered four categories of the Business Weekly Awards 2020-21.
In its sights are The Michael Marshall Engineering Excellence Award; Disruptive Technology; Life Science Innovation and International Trade Champion.
This isn’t a case of a hopeful business spreading its bets rather a reflection on having genuine credentials in every single one of those categories.
Based at Cambridge Science Park, CN Bio Innovations is a leading cell culture company that has developed single and multi-organ microphysiological systems that improve the accuracy and efficiency of drug discovery.
It completed a c.£6.9 million investment round in March to support the expansion of its commercial operations across key markets in the US and Europe – including relocation to bigger premises in Cambridge.
The company is building on over 10 years of research and development of organ-on-chip technology to improve the chances of clinical success by transforming the way human-relevant pre-clinical data is generated.
CN Bio’s disruptive single and multi-organ microphysiological systems reliably bridge the gap between traditional cell culture assays and human studies to optimise the accuracy and efficiency of drug development – reducing the cost and time of bringing new medicines to market.
NHS spin-out Medovate is another new and exciting entry and is tilting its cap at both the Young Company of the Year and Disruptive Technology accolades.
Medovate was spun out of the NHS in 2017 and is breathing life into new technologies from the NHS to improve patient care.
Despite the challenges of the global pandemic, the team of 12 have in 2020 secured FDA clearance and European CE Mark regulatory approval for their game-changing device, SAFIRA® (SAFer Injection for Regional Anaesthesia).
SAFIRA® is designed to transform regional anaesthesia and has multiple patient and clinician benefits.
Medovate has launched the device in the United States, appointing five distributors to provide 100 per cent coverage across all states. It has also signed an exclusive deal with Vygon – a global player in the regional anaesthesia market – to distribute the device across 60 countries and concluded distribution agreements in Israel, Australia and New Zealand.
Despite the challenges caused by the coronavirus pandemic Medovate has stayed true to its vision. SAFIRA® is regarded as unique in two specific ways. It makes RA a one-person procedure, giving anaesthetists full control and removing the need for an assistant. A unique safety solution automatically prevents injection above 20psi, helping to reduce the risk of nerve damage in patients.
Economic modelling shows it has the potential to deliver significant cost optimisation benefits per patient compared to current regional anaesthesia procedure.
SAFIRA® has been used successfully for nerve blocks in the UK and clinician feedback is that the device is intuitive to use and fits into standard operating room procedures. SAFIRA® was named ‘Best Regional Anaesthesia Safety Solution 2020’ in the GHP Healthcare & Pharmaceutical Awards.
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