Symex Labs: Enhancing Fertility Outcomes with Wearable Lab-on-a-Chip Technology
MedTech Actuator startup, Symex Labs is revolutionising the fertility industry. The venture is developing lab-on-a-chip solutions that provide continuous monitoring of hormones in interstitial fluid (ISF). The goal is to provide couples who are trying to conceive with a more convenient and effective solution to predict ovulation and measure fertility hormones. The idea has garnered strong market appeal, after extensive market research with Virtus Health, Monash IVF Group and internationally with IVF clinics in the US and Singapore.
The idea behind Symex Labs stemmed from the unpleasant personal experiences of the cofounders’ partners when trying to fall pregnant using the consumer-based products available for ovulation prediction. These products are usually urinary-based, require strict compliance for accurate estimation and involve a cumbersome user experience. This led the co-founders to imagine a “set-and-forget” solution inspired by the prominent Continuous Glucose Monitors (CGM), which are used by diabetic patients to monitor their glucose levels.
Driven by passion to help
The disappointment, sadness, and physical and emotional pain that couples experience during unsuccessful IVF rounds drive the team at Symex Labs every day. Cofounders Edgar Charry and Muhammad Umer are passionate about finding solutions that can help couples fall pregnant more easily and reduce the traumatic experience of infertility. Symex Labs is on a mission to achieve more insights into women’s fertility hormones with the sensor they are developing.
Symex Labs is a young company that has carried out extensive market research and its focus is now on the development of its product. Although the technology ecosystem has a great pool of technical talent, some parts of their technology require complex biochemistry and microfluidics design experience, making it challenging to find the right people locally. To overcome this challenge, the team reached out to their network of professionals overseas in the US, Europe and Asia to connect with the right people with the appropriate level of experience.
Symex Labs advises MedTech, HealthTech, or BioTech startups to firstly, do diligent and comprehensive market research before investing too much time in the technology. Secondly, gather feedback from the market as soon as possible. Give mock-ups and prototypes to potential customers to start getting feedback quickly to iterate. Thirdly, de-risk the high-risk parts of the technology as soon as possible. Finally, be ready to pivot if the market is telling you differently from what you originally thought.
“It is important to keep in mind the possibility of pivoting – if the market is not interested in your idea, use your technology as a platform to carefully pivot to another area where there’s evidence of more commercial interest in your products and services”, Edgar Charry, CEO & Co-Founder, Symex Labs
Symex Labs is on a mission to revolutionize the fertility industry with their lab-on-a-chip solutions. Their passion for helping couples fall pregnant and their determination to overcome challenges make them a company to watch in the coming years.
Experience with the MedTech Actuator
The MedTech Actuator Accelerator is Asia Pacific’s industry-led, investor-backed 12-month venture development program for early-stage MedTech, BioTech and HealthTech startups.
Symex Labs joined the MedTech Actuator Accelerator Cohort 7 in 2022. The Accelerator experience provided Symex Labs with valuable networking opportunities with IP consultants, business executives, investors, and global medtech partners. The seed funding received through the program allowed the company to acquire lab space, build a small team of experts in biochemistry, immunoassay, and microfluidic research, license proprietary technology from RMIT University. The team has set a goal to create a benchtop prototype by June 2023 to demonstrate the key components of their technology.
Throughout the Accelerator program, founders have access to dedicated industry mentors, experts-in-residence, investors, key industry leaders, suppliers and government support agencies.
Mentors such as Graham McLean (ex-president Asia Pacific Stryker) and Dr Buzz Palmer (CEO Medtech Actuator) have played a significant role in Symex’s success, providing valuable guidance and support. Participating in the MedTech Actuator cohort 7 has also been enjoyable, as the team had the opportunity to interact with other startups in the medical device industry.
Symex Labs would highly recommend the MedTech Actuator to others in the medical device industry. The networking opportunities and mentorship provided through the program can be invaluable in helping startups grow and progress their business.
“There are many ways that you could benefit from participating in the Accelerator program depending on what stage your company is at. For us, networking with important professionals in this ecosystem was vital to grow and progress our business in the right direction”, Edgar Charry, CEO & Co-Founder, Symex Labs.
Join MedTech Actuator’s 8th Accelerator cohort
Are you looking to take your health innovation to the next level?
Applications are open until March 3 for the next Accelerator cohort! Join early-stage healthcare startups in a 12-month accelerator program, tailored to MedTech, HealthTech and BioTech innovation in Australia and Asia Pacific. With investment and access to over 150 industry experts, the MedTech Actuator Accelerator will help to strengthen your commercialisation strategy as you advance your technology closer to the market.
Sign up to receive the Accelerator information pack or schedule a call with Makenzie to discuss the application and see if MedTech Actuator Accelerator is right for you!