You can achieve a dual vision: improve the impact on people’s health, and build liquidity for your company. The road to successful medical device technologies that win on both fronts is possible—with some key considerations.
Gaining traction requires clinical and regulatory competency, no doubt. But what’s not on your radar may be the source of delays and pitfalls, and can be the factors that keep you from hitting milestones. Having to re-configure your product or re-conduct a single trial can be the cost and time expense that breaks an emerging company. Many elements can be effectively leveraged in the device development process to increase chances of success:
-- Early validation of market desirability
-- Human factors & usability
-- Manufacturing preparation
Early engagement and integration of these activities has a definite payoff. New technologies can be brought to market expediently, without sacrificing safety or effectiveness.
SHANNON CLARK, CEO at UserWise
NOREEN KING, President & CEO at Evolve Manufacturing
HOWARD EDELMAN, Chairman Medical Devices & Digital Health Screening Committee, Life Science Angels; Entrepreneur-in-Residence at UCSF
DOUG HIEMSTRA, Practice Area Lead - Medical Devices, Triple Ring Technologies