Intelligent syringe creates new company

A simple and intelligent modification of the syringes used by millions of people for their medicine is the foundation for a new medtech company. Medilet is the first company to have sprung out of ”Bioneer: FARMA” – a successful cooperation between Bioneer and the University of Copenhagen.

It started as an advisory process, but ended up as an investment for the experienced biotech entrepreneur Jan Quistgaard. He had been mentor for Copenhagen Spin-Outs for a year, and it was in connection with this, that he became interested in the invention

The double-chambered Dualet syringe is invented and developed by associate professor Daniel Bar-Shalom. The two chambers make it possible to, for example, mix a lyophilized drug substance with a supply liquid immediately before the syringe is to be used. This means that is it not necessary to put the medicine on ice. The chamber with the medicine is added just before use, and can therefore be delivered ready for use, and without the patients having to administer the medication doses themselves.

”I became interested in investing in the Dualet syringe because it has great market potential and no significant competitors. But definitely also because it is an instrument and not simply a pharmaceutical product, and can thus be brought on the market quicker. This in itself is of huge value, ” Jan Quistgaard explains.

As CEO of the new company Medilet, Jan Quistgaard now has to go out and sell the Dualet syringe, and there are already various clients interested in the product.

First spin-out company from an established cooperation

Medilet is the first company, which has been established based on Bioneer: FARMA, a cooperation which has been running since 2007 between the University of Copenhagen and the GTS institute Bioneer. The inventor of the Dualet syringe, Daniel Bar-Shalom, divides his time between the two institutions, which then divide the intellectual rights to the technology, which springs from the cooperation.

The fact that a new company has now been created through the cooperation is not due to a change of approach or strategy, as explained by the CEO of Bioneer, Poul Andersson:

”It is the market, which in the end decides the result of a commercialization process. Since we often deal with very specialized bioscientific technologies, the result will typically be a license agreement. But with the Dualet syringe, we are dealing much more with a product, which needs to be marketed. It is not our core business, and therefore it made ​​sense to sell, when Jan showed an interest.”

The sustainability of the invention had to be ensured

Before selling the Dualet syringe to Medilet could become reality, more than a year of work passed.  For one, an adaptation of both prototypes and intellectual property rights was necessary. The commercialization experts from Bioneer: FARMA have been supplemented by specialists from Copenhagen Spin-Outs under the Tech Trans office at the University of Copenhagen for this job. Technology scout Bo Stenhuus is one of these experts, and he is also on the steering committee for Bioneer: FARMA. He explains:

”It was important the set the rights regarding the technology straight before selling to Medilet, and at the same time the company had to have ’freedom to operate’ on different markets. After a really successful cooperation, this is in place, and the Dualet syringe is ready for the next stage of the commercialization process, which among other things will include a CE approval.”

Another crucial element, which had to be in order, was certainty of the viability of the product. Small, new companies can be vulnerable, and this needed to be taken into account, Paul Andersson explains.

”Besides of course getting the financing of the sale in order, it was crucial to ensure that the destiny of the product was not inextricably tied to the company. This being said, we are absolutely certain that Jan Quistgaard, with his expertise and experience in the field, is the right person to transform the Dualet syringe into a commercial success.”

Latest result of a fruitful cooperation

By creating Medilet, the commercialization specialists from Bioneer:FARMA and Copenhagen Spin-Outs finalize a process, in which all of the involved state that it has been characterized by a good and constructive cooperation.

Sven Frøkjær, Associate Dean for Industrial Collaboration at the Faculty of Health and Medical Sciences, explains:

”It is an excellent outcome, and I am pleased that our collaboration with Bioneer gives these kinds of results. It is a good example of how fruitful it is to have partnerships with set rules when working with commercialization of research. It provides a strong foundation for working together, and this is crucial for reaching the goals.”

However, this latest result from the cooperation between the University of Copenhagen and Bioneer will absolutely not be the last. Poul Andersson tells, that Bioneer: FARMA has had a steadily increasing activity curve since its establishment in 2007, and it does not look like it will decrease in the near future.

”During the past seven years we have helped 61 companies, of which 41 have been small and medium sized companies. Besides the commercialization work, we have also have also helped establish European collaborations, and have helped with a substantial insourcing of English technology to the Danish market. Bioneer: FARMA has been a very successful cooperation, and I predict it will continue for many years in the future,” says Poul Andersson.

FACTS BOX:
BIONEER:FARMA

-          Commercialization work with the University of Copenhagen and with Bioneer.

-          Established in 2007 and works with everything from development to analysis to advice.

-          Based at the institute of pharmacy at the Faculty of Health and Medical Sciences, and often uses the university researchers as subcontractors in a counseling process.

-          Has so far collaborated with 62 companies

  • 42 Danish companies (33 small and medium companies and 9 large companies)

20 foreign companies (8 small and medium companies and 12 large companies)

FACTS BOX:
BIONEER:FARMA

-          Commercialization work with the University of Copenhagen and with Bioneer.

-          Established in 2007 and works with everything from development to analysis to advice.

-          Based at the institute of pharmacy at the Faculty of Health and Medical Sciences, and often uses the university researchers as subcontractors in a counseling process.

-          Has so far collaborated with 62 companies

  • 42 Danish companies (33 small and medium companies and 9 large companies)

20 foreign companies (8 small and medium companies and 12 large companies)

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