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15 Nov

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14 Nov

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13 Nov

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Medical Device Innovations Company Seeks Investment

A D2N2 Growth Hub client - Olberon - is seeking to raise funds for the manufacture and sale of Vacuderm, a device to assist with childrens' cannulation procedure.

Olberon

Olberon Ltd, a UK based medical innovations company, has built up a strong portfolio of in-house patented medical innovations, two medical devices that are market ready from concept to commercialisation, as well as offering consultancy services to both the NHS and the wider medical device market.

Olberon is now seeking up to £250,000 to launch development of the childrens' Vacuderm and grow sales distribution networks in both the UK and internationally for its commercial ready medical devices. Vacuderm is designed to help reduce failure rates in cannulation procedures in children.

Revenue

The company has to date been funded mainly through consultancy services provided by Dr Arash Bakhtyari and from grants received from The University of Derby and other grant funds applied for future.

Market

The global medical device market is expected to reach $343 billion by 2021, with growth forecast at 5% per annum from 2016 to 2021 (Lucintel, September 2016). The main drivers advancing growth are increased healthcare expenditure, increase in health awareness and ageing populations. The medical device industry is one of the biggest industries in healthcare and has seen growth catalysed by medical innovations and improved technology.

Olberon2

Olberon's Vacuderm is designed to assist with a global medical problem (inserting a hollow tube into the vein - cannulation) this procedure has a high first time failure rate of 30%. Currently there are 859 million cannula used worldwide, with a cost per procedure of £32.61 per patient (UK Pricing).

Fully developed venous access novel products have shown to have significant market value. Venetech developing Statlock, a cannula securement device was bought by Bard for $166 million in 2006. Retractable Technologies Inc won a patent infringement suit for a self retracting syringe (Vanishpoint) against BD for $340 million.

Olberon has also developed the Otorhinoscope, a diagnostic device which is a dual purpose ear and nose examination device with a single unique expandable speculum, that addresses several issues and improves pathology detection for GP's, ENT's and emergency departments, while saving time and money.

The UK market size for the Otorhinoscope is estimated at 58,500 units per annum. The Otorhinoscope's competition would be the Otoscope market, however the Otorhinoscope offers a solution to a common problem experienced by general practitioners in that they do not have a simple device to examine the nasal cavities with so we are offering an Otoscope that can do this, giving the device a competitive edge.

Tax Relief

Olberon Ltd has achieved advanced assurance for the Enterprise Investment Scheme (EIS). We believe this could prove an interesting investment while helping Olberon to enable healthcare providers to reduce costs and help patients not to suffer as much during medical procedures.

To find out more about this pitch or to ask the Director(s) a question please Join Now or Log in


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