17 APRIL 2020
Australian company Jay-Nik Pty Ltd has developed a proprietary ‘Drop & Lock™’ syringe that reduces the risk of labelling errors, medication mix-ups, and drug theft and abuse.
The new medical technology is compatible with the shapes and sizes of syringes currently used worldwide in ambulance services, hospital accident and emergency wards, and field-based defence units.
Jay-Nik Pty Ltd was born when Australian paramedics George Poulos and Clare Brown recognised an ongoing problem with intravenous medication labelling and identification.
George, Clare and their team – including Pierre Nathie and Rob Gourlay – recently completed The Accelerator, delivered by the MedTech Actuator. The 15-month, industry-led, venture-backed program aggressively funds and accelerates early-stage medical, health and biological technology startups. The MedTech Actuator works alongside venture capital partner Artesian to support startups on their journey.
“The Accelerator was a real game changer for us,” says George.
Connecting with entrepreneurs and industry leaders that have experience in developing new medical technologies has been a great support to the team.
“We learnt what to do, and most importantly what not to do,” says George.
“If you are trying to get an idea or technology through to commercialisation, I strongly recommend seeking as much education as possible.”
George says that market research, relationships and patience are important keys to success for emerging MedTech, HealthTech and BioTech entrepreneurs.
“Never underestimate professional relationships – you need a great team and network, and effective communication to achieve great things. And patience, lots of patience.”
Jay-Nik Pty Ltd have now set their sights on the US market. The team are wrapping up their outstanding patents, finishing a usability trial in the US, submitting a pre-submission with the US Food and Drug Administration and conducting market research in the US.
The team also recently completed an in-depth Patent Strength Analysis with their patent lawyers and are positioning to engage companies interested in their intellectual property.
To learn more about Jay-Nik and follow them on their journey, go to www.jay-nik.com.
Do you have a MedTech, HealthTech or BioTech prototype to improve or save lives? Find out more about The Accelerator.