Health Enterprise East (HEE) are pleased to announce its first licence agreement with medical device company Medovate. Launched by HEE and dedicated to the development and commercialisation of medical technologies, Medovate has secured the exclusive rights to design, develop, manufacture and sell a ground-breaking innovation in the field of anaesthesia – Safer Injection for Regional Anaesthesia (SAFIRA).
SAFIRA provides an end-to-end safety solution and gives anaesthetists enhanced data monitoring, recording the entire procedure with precise readings on time, pressure and volume to provide safe anaesthetic administration. The innovation was invented by leading anaesthetists at the Queen Elizabeth Hospital, Kings Lynn, NHS Foundation Trust.
HEE launched Medovate in February 2018 with investment capital worth £9m and a remit to boost the financial and technical support available to medtech innovators within the NHS. HEE annually reviews in excess of 200 early stage commercial opportunities which might be suitable for protection and development as high value healthtech or medtech products. Selected innovations then receive funding through Medovate at a crucial point in their development. Additional support is also provided to help get them ready for market launch in both the UK and international markets.
SAFIRA is one of the first products to be added to Medovate’s portfolio, and under the terms of the licence agreements, Medovate can now take this innovation through the phases of design & development, regulatory approval and clinical trial to market launch.
Anne Blackwood, CEO of Health Enterprise East, commented:
“SAFIRA is a fantastic example of the many innovative ideas being developed by NHS staff in hospitals all around the UK. HEE is proud to have been involved in the formation of Medovate and excited to see the company growing its portfolio of pioneering medtech projects. We look forward to seeing both patients and clinicians reaping the benefits of this ground-breaking innovation once it comes to market.”
Stuart Thomson, Managing Director of Medovate, commented:
“There are approximately 6 million regional block procedures carried out in the EU and US each year. Injection above the published safe pressure threshold can lead to serious nerve damage in up to 1% of cases and transient nerve damage in up to 5% of cases, so this is a major problem. There are also broader repercussions including financial compensation claims, increased anaesthetist and care provider anxiety and importantly, a rise in patient re-admission. Medovate aims to help develop innovations that can tackle problems in healthcare like these and by supporting products like SAFIRA can help to ensure that complications from nerve damage finally become a thing of the past.”