Senzime develops unique patient-oriented monitoring systems that make it possible to assess patients’ biochemical and physiological processes before, during and after surgery. The portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues, as well as systems to monitor patients’ neuromuscular function perioperatively and in the intensive care medicine setting.
The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and anesthesia, and decrease health care costs. Senzime operates in growing markets that in Europe and the United States are valued in excess of $10 billion.
Senzime develops unique medical devices that make it possible to monitor patients’ biochemical and physiological processes before, during and after an operation. The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and reduce health care costs.
During the second quarter of 2016, Senzime AB acquired Acacia BV, a medical device company that has developed a novel and reliable method of monitoring the depth of neuromuscular block and determine the adequacy of neuromuscular recovery during general anesthesia. The method of monitoring is designed to reduce perioperative complications in surgical patients. The merger between Senzime and Acacia creates a company with a broader market offering of patient monitoring systems of biological and physiological processes in perioperative surgical patients. The new company significantly increases Senzime’s market potential and opportunities, and benefits from Acacia’s existing international clinical network.
We are building a global leader in patient monitoring, an area which continues to gain ground in pace with increased demands for patient safety and lower health care costs. As part of this strategy, in the third quarter we continued our product development, clinical verification, sharpen our patent portfolio and strengthen the organization to build the new Senzime. We have a unique and competitive portfolio of products in patient monitoring that faces the market launch 2017.
During the quarter we, Sandvik, Techtum and Nanoxis also began a collaboration with Örebro University that aims to improve patient safety and reduce healthcare costs. Senzime will supply the resources, instruments, consumables and microdialysis probes needed to investigate the immune system receptors called inflammasomes and the role they play in a host of inflammatory disorders. Understanding these protein complexes may provide early detection of changes in the maintenance of homeostatic biological functions in patients at risk, and facilitate the clearance of pathogens and damaged cells.
We also launched a Swedish registry study in collaboration with Swedish Medtech, Skåne University Hospital in Lund, Gothenburg University and the National Registry of esophageal and gastric cancer. In Lund, a clinical study using OnZurf Probe is already ongoing. The OnZurf Probe is our product for continuous, organ-specific postoperative measurement of lactate in patients with cancer of the esophagus, a disorder that affects approximately 500,000 patients worldwide annually. This study has now been expanded further in cooperation with additional partners to also evaluate health economic issues. Results from this study are expected to be reported in the second quarter of 2017.
After the reporting period, we began study partnerships with two of the world’s foremost hospitals: The Mayo Clinic and North Shore University Hospital, both in the United States. The studies planned are intended to evaluate the TetraGraph. The study results are expected in December 2016, and they will provide the needed data as a first step towards future market introduction in the US. Additionally, a validation study has been initiated in cooperation with Debrecen University in Hungary, one of Europe’s leading universities in the area of neuromuscular monitoring; these results are expected early in 2017.
Finally, and as I said earlier, we remain confident that we have highly attractive products and that we are targeting the right market at the right time. Discussions with potential license partners continues, we are approaching market launch of our products; we look forward to an eventful end to 2016 and an exciting and promising start of 2017.