19 JUNE 2020
Lenexa Medical, a Melbourne-based technology company, is pleased to announce it has been a successful recipient of a $650,000 Accelerating Commercialisation grant.
Provided by the Australian Government’s Department of Industry, Science, Energy and Resources, the highly competitive Accelerating Commercialisation grant provides expert advice and funding to businesses to commercialise novel products with significant market potential, in this case Lenexa Medical’s innovative technology for pressure injury (PI) risk management and patient monitoring.
“This funding supports our continued progress in the development and commercialisation of our patient-centred technology, as we aim to be the first in the world to offer a solution for targeted and personalised pressure injury prevention,” said Lenexa Medical’s CEO and Co-Founder, Ajit Ravindran.
Pressure injuries (or bed sores) can occur in patients after as little as one hour spent immobile on a surface, putting many patients in hospitals and aged-care facilities at risk.
Despite widespread recognition that pressure injuries are mostly preventable, they remain a devastating health problem, with more than 300,000 cases in Australia every year (1) often resulting in longer and more costly hospital stays and, in some cases, debilitating injury or death.
Lenexa Medical are developing an ultra-thin sheet with sensor technology that acts as a real-time ongoing monitoring device for PI risk. The device will assist clinicians by providing them with information around where and when the risk of injury is developing.
Through the Stanford-inspired Biodesign Innovation course at the University of Melbourne, the team Ajit Ravindran, Martin Thompson and Will Yang identified the need to improve the current standard of care.
Following this they were accepted into the Medtech Actuator, taking their concept to prototype stage and developing their commercialisation strategy.
“The commercialisation strategy has to be guided by the experienced. We’re grateful to have had this opportunity through the Medtech Actuator and now Accelerating Commercialisation to access experienced advisers with extensive commercialisation and business experience.” Mr Ravindran added.
“This, in conjunction with the financial support from the grant, will provide us with a strong foundation to bring our much-needed technology to market.”
Funding from the grant will be used to develop a full-sized alpha prototype, support a Series A capital raise and partner with key hospitals to conduct pilot studies to demonstrate the acceptability and feasibility of the device in a clinical setting.
For more information, visit: lenexamedical.com
- Graves N, Zheng H. Modelling the direct health care costs of chronic wounds in Australia. Wound Practice & Research: Journal of the Australian Wound Management Association. 2014;22(1):20.