TuCann Medical’s PIVC: Improving IV Cannula Safety and Patient Experience
MedTech Actuator Accelerator startup, TuCann Medical, is developing a Peripheral Intravenous Cannula (PIVC) that aims to prevent bloodstream infections, phlebitis and occlusion of these devices. Current cannulas used in hospitals have a high rate of complications and often need to be removed, resulting in multiple needle sticks for patients. TuCann Medical’s PIVC aims to change this by creating a safer patient experience where only one line is needed, every time.
The idea for TuCann Medical came about after co-founders, Dr. Maryam Soomro, Santiago Beltran Diaz and Kenneth Wong, realised that the sterility of peripheral IVs is often broken and is a major cause of sepsis and other infections in hospitals. They decided to tackle this problem by designing a PIVC that requires less needle sticks and has novel antimicrobials to prevent infections. As a result, TuCann Medical’s innovation prioritises patient vascular health and comfort, whilst reducing waste and saving time in clinical workflows.
The team is driven by the desire to improve the patient experience and to create a safer environment for patients in hospitals. TuCann Medical’s PIVC has the potential to make a significant impact on healthcare outcomes, reducing the number of deaths caused by sepsis and other infections.
The biggest challenge that the team has faced so far is growing as a startup and as individuals. Starting a company is a journey that requires a lot of growth and self-discovery. The co-founders have found that the biggest challenge is not only the company obstacles faced, but also managing this amongst the opportunities to grow and become better individuals.
“Make sure you are with the right people. Building a strong team is essential for the success of any startup, and the right team can make all the difference in achieving your goals”, Dr Maryam Soomro, CEO, TuCann Medical.
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. The program will simultaneously accelerate your technology development, build your team capability and provide access to investment.
The Accelerator is designed to support every dimension of health innovation commercialisation, with elements of the program built to support each cofounder in their focus areas. In 2020, TuCann Medical joined the Accelerator Cohort 5 and used this opportunity to take their PIVC innovation to the next level.
“When I joined the MedTech Actuator, I was hoping to achieve several things. I wanted to gain access to extensive networks in the Australian startup space and to expertise of experienced mentors who could help guide me through the commercialisation process. I also wanted to improve my commercialisation skills, which I intend to carry forward into my startup,” Dr Maryam Soomro, CEO, TuCann Medical.
Throughout the program, founders have access to dedicated industry mentors, experts-in-residence, investors, key industry leaders, suppliers and government support agencies.
“The mentors I met through the program, Toby McSweeney, Byron Darroch and Greg Rogers, were invaluable in helping me grow TuCann Medical. They helped us identify gaps in our commercialisation strategy and provided guidance on how to fill them”.
The MedTech Actuator Accelerator is designed for maximum speed and efficiency. The program sets milestones for each startup that helps them get to market faster. Startups are surrounded by all the expertise, resources, and infrastructure the healthcare startup needs so founders can focus on building the company.
During the program, TuCann Medical was able to connect with other startups on similar journeys and built a community of support, where they were able to share experiences and learn from one another. Since the Accelerator, TuCann Medical has achieved several milestones accelerating their health innovation to market, including:
- Incorporation as a company whilst participating in the program, and since then have grown into a seed-stage company with incredible traction in trials, R&D and are moving closer to regulatory approval;
- Have negotiated exclusive licensing agreements with RMIT, where they are working on a functioning prototype that we are putting in for FDA assessment;
- Participated in US-based Techstars and have built out their US networks;
- Established ties with Monash Health and are negotiating trial agreements;
- Closed a pre-seed capital raise (America and Australia) and are currently raising a seed round;
- Have mapped out reimbursement strategies and built a board of advisors, including members from Cook Medical and Cochlear.
Join MedTech Actuator’s 8th Accelerator cohort
“The most beneficial aspect of the MedTech Actuator Accelerator is the lean commercialisation thinking it has, which was really excellent for strategising pathways forward and exit options. I would absolutely recommend the MedTech Actuator to others. It is vital to fill in the commercialisation gaps of the science-heavy start-ups and spin-offs in this space. The MedTech Actuator Accelerator is an incredible program that provides a wealth of resources, networks and mentorship to help young start-ups grow and succeed in the MedTech industry.”
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!