Medical Innovation Exchange (MIx) featured three companies during their first networking and pitch event at the Cove @ UCI, to a crowd of about 50 industry mentors, business leaders and investors in March. Each company spoke about their innovation concepts for medical devices and services in the medical/technical and healthcare space. MIx also allowed the audience to provide each presenter with constructive feedback and open discussion.
“With this event, we are really trying to bring forward a community of innovators,” said MIx event organizer Roni Bracha. “We’re really excited to put our event on at The Cove. It’s a really great location that facilitates that creative, open and fun environment, but still remains professional due to its academic setting.”
Pharmyx Automation Inc. presented their patented technology for pharmaceutical distribution and packaging for solid oral medication. By incorporating automation and workflow improvement, their technology, a state-of-the-art medication dispenser, will make it easier to integrate specific medicinal solid dose packaging.
“There hasn’t been any great innovation in this space since 1987,” said Tim Bauer, Pharmyx Automation co-founder and partner. “The number one danger [in this space] is getting the right pills to the right patient.”
As opposed to human labor, the technology utilizes a CP-90 robot to create standard unit dose packaging and dispensing, which reduces pharmacy labor and allows the pharmacist to focus on the patient directly, according to Bauer. Pharmyx Automation intends to raise $5M and develop patents in North America with an 18-month go-to-market plan, where they project to raise $40M in revenue by 2020.
DermaTec, an early-stage biotech startup that aims to create affordable and simple biosensors, presented a non-invasive patch that changes color as its wearer drinks alcohol and becomes intoxicated. DermaTec’s goal is to revolutionize alcohol detection with this product, while promoting responsible drinking.
“We want to put a dent in drunk driving and this product helps make drinking safer and fun,” said Duncan McClure, DermaTec chief technology officer. “The advantage of this [patch] is that someone can go about their day and check the patch every now and then as opposed to [having] to stop and blow into a tube.”
The patch’s indicator turns blue using a chemical reaction with the alcohol that is absorbed by the body and released through the sweat glands. The information is relayed through a tracking app that is downloaded to a user’s smartphone. In June 2016, the company received a pre-seed investment to fine tune the patch’s chemistry. They are currently in a manufacturing and development stage where they will begin clinical trials and an FDA approval process.
BioCorrect Nutrition talked about their combination of clinical laboratory science with orthomolecular medicine, which determines a person’s specific nutritional needs and provides supplementation to improve health. The company’s test is a medically proven laboratory test that analyzes 36 key elements/minerals from a hair sample.
“We determine precisely what your body needs and recommend a bio corrective nutrition process to correct your metabolic dysfunctions,” said Kurtis Styhr, BioCorrect Nutrition chief executive officer. “We increase metabolism by up to 30 percent to maximize your genetic potential.”
Styhr said the technology dates back to the early 20th century where it was implemented on race horses to improve their functionality. BioCorrect Nutrition sends a test collection kit to clients where a teaspoon of hair is collected from their client and is analyzed by a Texas laboratory for the 36 minerals. The process concludes with a personalized consultation with the client.
“The hair cells you have on the back of your head absorb the same nutrients as your brain, stomach, muscles and heart,” said Styhr. “We just look at the hair cells and what’s being absorbed by your body.”
BioCorrect Nutrition is currently looking for additional investments to build their sales and marketing team.
MIx offers a series of interactive events and presentations across Southern California. For more information about their upcoming schedule, click here.