From an Idea to a Medical Device

1
From an Idea to a Medical Device

• Dr. Hadar Ron
• Nov. 21st, 2006

2
Starting Point

• Innovative idea
• Necessary, but insufficient.
• What are the critical elements required to
  transform the idea into a viable product?

3
The Main Criteria

• The product must respond to a real unmet
  clinical need in a given market.
• How is the idea evaluated how do we establish
  this unmet need?

4
The Main Criteria

• Evaluation Not to fall in love with the idea
• The financial elements
• Insurance
• Doctors Incentive
• Doctors Psychology

5
Strategizing

• IP Strategy
• Team Internal, external, advisors opinion
  leaders.
• Regulation as a marketing communication
• Reimbursement
• Advance Planning A clear time table and
  work-plan

6
Financing What do we (IHCV) look for?

• Technology/Product/Drug Proof of Concept
• Team We invest in people. Entrepreneurs.
• A clear concise presentation of the technology,
  not an elaborate scientific one.
• Market Potential Does it exist? Is it a future
  one? Is the idea patentable?
• Added value what can we contribute?We are not
  financial investors.
• Time to market. Investing philosophy

7
Summary

• Is the idea being developed out of a vision of
  the entrepreneur and not out of need in the
  market place?
• Is it Nice to have and not Must have?
• The need for the medical device comes out of good
  technology that has a real clinical need in
  the market
• Once you think of an idea , check the market need
  
• Come with a working concept
• A product is not viable even if it solves a
  medical problem, it has to make strong
  economical sense.

8

• A founder must know that successful
  experiments in a laboratory setting are
  very different than successful trials
  required for regulations and marketing.