Medical device start-up attracts global interest
International medical companies are circling New Zealand medical device start-up KM Medical and MD Richard McCulloch couldn’t be happier.
“Medical devices aren’t like other inventions,” he says. “You can’t just go straight to manufacture without certification to FDA (US) and CE (Europe) regulatory compliance.
And that comes at a huge cost.”
After five years of work, Auckland-based KM Medical has developed technology for a platform providing automated delivery of resuscitation and ventilation.
AJ Park has ensured the intellectual property is protected by international patents and their strength can be gauged by the recent granting of both Chinese and Russian patents.
The platform features world-leading technology, making it far smaller, lighter, more power-efficient, and lower-cost than other respiratory solutions.
The first product to be developed from the platform will be a Neonatal Resuscitator and
Transport Ventilator and McCulloch is particularly excited about bringing it to market.
“The public health benefits are immense,” he says, “and when we complete our investment round we’ll have funding to attain regulatory compliance certification, commercialise the Neonatal Resuscitator and start saving newborns’ lives.”
A market validation study by a leading European medical market research company has confirmed a market opportunity of US$640 million over ten years for the Neonatal Resuscitator alone.