Irish company sign global deal with American and Asian organisations to develop medical device and diagnostic solutions

Q2, 2016

i360medical, the Irish healthcare solutions and medical device innovation company, has today announced that it has formed an international alliance with an American research institute, The Feinstein Institute for Medical Research, and Singapore’s Diagnostics Development (DxD) Hub a national initiative led by Singapore’s Agency for Science, Technology and Research (A*STAR). The Alliance has been formed to target the development of medical device and diagnostic technologies with an initial focus on surgical procedures, intraoperative diagnostics and diabetic management.

Under this agreement, the parties will jointly identify and evaluate pipeline projects, with the goal of developing selected projects with high potential for clinical and commercialisation impact. The alliance gives the Feinstein Institute access to the DxD Hub’s Asian clinical network and i360’s European clinical network. The DxD Hub and i360 will also gain access to the Feinstein Institute and North Shore-LIJ’s clinical network of key opinion leaders, to benefit from their clinical input and evaluation of joint initiatives.

Commenting on the announcement, Derek Young, CEO of i360medical said: “This is a very significant deal which will allow us to build a pipeline of new technology that will ultimately benefit patients around the world. Both of our partners are recognised as global leaders in their areas are we are excited to combine our networks with the goal of developing and commercialising breakthrough technologies for the healthcare of tomorrow. This will benefit Ireland by bringing more MedTech start –ups here and by leveraging the combined international networks of A*Star, Feinstein and i360medical to launch these start –ups commercially into the international healthcare markets.

The Feinstein Institute for Medical Research is the research arm of the North Shore-LIJ Health System in New York and comprises of 1,500 clinicians, scientists and staff who work in laboratories and clinical research programs throughout the North Shore-LIJ Health System. Annually, more than 15,000 patients and volunteers participate in more than 2,000 clinical research studies and trials. The institute’s key research areas include autoimmune diseases, Alzheimer’s disease, Parkinson’s disease, and bio-electronic medicine.

The DxD Hub, which is a national initiative led by Singapore’s Agency for Science, Technology and Research (A*STAR), and i360 will leverage this alliance to conduct clinical studies and product roll-out in the Feinstein Institute’s clinical labs, thereby gaining market access to the United States.

The collaboration will also enable the DxD Hub and i360 to serve as gateways to Singapore and the rest of Asia, as well as the European Union markets respectively. The synergistic relationship among the three parties is expected to accelerate productisation and commercialisation of medical diagnostic technologies in Singapore to address Asian and global needs.

Dr Sidney Yee, CEO of the DxD Hub, said, “As the aging population continues to grow, and with the rise of chronic diseases, medical diagnostics becomes increasingly critical within healthcare for early detection, prevention and treatment of diseases. The DxD Hub’s collaboration with the Feinstein Institute and i360 will catalyse the development of leading edge medical technologies and devices, and bring them quickly to global markets. This enables A*STAR to achieve value creation, value delivery and value capture from our R&D.”

Mr Kirk Manogue, Vice President of the technology transfer arm for the Feinstein Institute, said, “I am delighted that the DxD Hub, i360medical and the Feinstein Institute have concluded this agreement to collaborate in identifying, developing and advancing the adoption of new medical technologies that improve healthcare and patient outcomes around the world.”

ENDS

For media queries and clarifications, please contact:

i360medical
James Dunny, FleishmanHillard 086 388 3903 / james.dunny@fleishmaneurope.com