Fast Track to Innovation Grant

Otivio AS, Innokas Medical OY, The University of Salford, and Bangor University were awarded a EU Horizon 2020 Fast Track to Innovation grant (737964) in August 16, 2016.Otivio is the coordinator for the project. The grant is EUR 2.1 million and will fund the project over 30 months. The project is divided into three main Task Areas: 

Clinical documentation of FlowOx™ 

 

University of Salford, Manchester, will be responsible for carrying out the clinical trials. The Centre for Health Economics and Medicines Evaluation (CHEME) at Bangor University, Wales (cheme.bangor.ac.uk), will do the health economic analysis.

 

Objectives

  • Gather compelling clinical evidence of efficacy by performing a randomized controlled clinical trial (RCT) in a patient population with a focus on healing chronic ischemic wounds

  • Extend RCT results to health economic assessment (HEA) to support product launch and a case for procurement in the target markets

 

 

Status to date

  • Salford

    • Clinical trial completed recruitment.

    • Original trial has been modified to a trial selecting individual patient cases.

  • Bangor

    • Health economic analysis model developed.

Product Industrialization of FlowOx™ 

 

Innokas Medical of Finland will be the main partner for product optimization and industrialization.

 

Objectives

  • Undertake design for future manufacturing and assembling (DFMA) to manufacture the product

 

Status to date

  • FlowOx2.0 developed and CE marked in December 2018

  • Scalable manufacturing capacity being ramped up. Currently at 50 units per week.

  • Significant improvement in usability and modernization of its overall design.

 

 

 

Commercialization of FlowOx™ 

 

Otivio AS will set up a distributor network in relative markets.

 

 

Objectives

  • Market introduction through key opinion leaders KOLs) in Germany, UK and Scandinavia to evaluate the current version (FlowOx™ 1.0) and to fine-tune the commercial model for the future.

  • Second generation FlowOx is currently being introduced in Scandinavia, UK and Germany. Expected first commercial sales in Q2 2019.

 

 

Status to date

  • Distributor networks set up in Scandinavia, UK and Ireland

  • Evaluations at 15 hospitals to date

  • Submission of application for marketing approval in the US is expected in Q3 2019.

FOR MORE INFORMATION ABOUT THE PROJECT CLICK HERE.

© 2023 by Gracious Dwelling. Proudly created with Wix.com

  • Facebook - Grey Circle

|  +47 934 46 261   |   info@otivio.com