8/21/11

Toumaz has BIG day, announcing FDA approval & joint venture with physician billionaire Patrick Soon-Shiong

Cross posted from iMedicalApps.com.

Amplify’d from www.imedicalapps.com

Toumaz has BIG day, announcing FDA approval & joint venture with physician billionaire Patrick Soon-Shiong

Toumaz Limited, developer of a new ultra-low power radio technology that competes with Bluetooth and Zigbee, announced this week that they have received FDA approval for its Sensium Digital Plaster technology.

Toumaz has also announced it will be entering into a new joint venture with California Capital Equity (CCE), the holding company of pharmaceutical billionaire Dr. Patrick Soon-Shiong, for the purpose of commercializing and distributing Sensium Digital Plaster. The new entity will be called Toumaz US and based in San Diego, CA.

sensium_01

This is a very big deal for the advancement of Body Area Network (BAN) technology, defined as a system of devices in close proximity to a person’s body that cooperate for the benefit of the user.  Read after the break to find out why.

Sensium Digital Plaster is an ultra-small, ultra-low power wireless body-worn monitor that continuously and unobtrusively acquires high-quality vital signs data, including temperature, heart rate and respiration rate.

According to the company website, Toumaz will license its ultra-low power wireless sensor nodes to third party developers building “own brand” wireless monitoring systems. These systems can transmit data via the Sensium Base Station or a Smartphone app, though Toumaz shows no indications of a desire to become an app development company.

Dr. Soon-Shiong was quoted in the press release announcing the joint venture saying, “Without a doubt, wireless is the future of healthcare. Wireless technology is the key to bringing quality healthcare to everybody, wherever they may be, in real time. Toumaz’s ultra-low power technology is going to be a vital element in this, and our joint venture opens up exciting prospects.”

Under the terms of the new partnership, CCE will provide up to $25m of funding to the company over the next two years and will own 80% of the equity in Toumaz US. The remaining 20% will be held by Toumaz Limited and its CEO, Chris Toumazou, will join the board of Toumaz US as Vice Chairman while Dr. Soon-Shiong will serve as Chairman. Toumaz will also receive licensing and royalty revenues from the joint venture as it commercializes its Sensium Digital Plaster technology.

It was unclear in the press release if the joint venture is intended strictly for the commercialization of the Sensium Digital Plaster technology, but it seemed to indicate that Dr. Soon-Shiong also owns a small stake in Toumaz Limited. It seems reasonable to conclude that Toumaz US will be a one-product company, with Toumaz Limited maintaining ownership of its remaining intellectual property

Patrick Soon-Shiong is arguably the greatest physician entrepreneur to ever live. He has founded and exited two separate pharmaceutical companies, each time taking home a ten-figure paycheck, all in the last 10 years. He is now the wealthiest man and single largest landowner in Los Angeles, as well as 10% owner of the Lakers. However, Dr. Soon-Shiong is by no means ready to slow down, and he now has his sights squarely set on the mHealth sector.

Just last month his Institute for Advanced Health (IAH) announced it would be developing a $200m data center in Phoenix, AR, which is rumored to be the first of several data centers to come.

Below you can learn a bit more about Dr. Patrick Soon-Shiong, his contributions to medicine and his vision for the future of the connected health care system. He should be an inspiration to aspiring physician entrepreneurs everywhere!

Read more at www.imedicalapps.com
 

6/4/11

Three mHealth startups win Rock Health slots | FierceMobileHealthcare

[1]Three mHealth startups have won coveted spots on business incubator Rock Health's new accelerator platform. Rock Health just announced 11 overall winners in its first class yesterday.

The program provides $20,000 in startup cash, plus five months of training sessions, mentoring, and workshops with business gurus from places like Harvard (the alma mater for all four of Rock Health's founders), and healthcare/eHealth experts with the Mayo Clinic, Epocrates and Doximity, Rock Health co-founder Halle Tecco tells FierceMobileHealthcare.

Right now the winners are all at different stages of development. Some are still polishing their initial idea, while others have prototypes they're beta-testing and a few are nearly ready for market, Tecco says. The program's goal, she explains, is to develop each participant's business plan, prototype and other key elements so that in five months, the companies are ready to pursue true six- or seven-figure venture capital to bring their products to market.

The three mHealth candidates include:

  • CellScope: This University of California-Berkley-developed company is working on smartphone attachments for at-home diagnostic testing. The first prototype, now in development, will diagnose children's ear infections, Tecco says. It works like this: A microscope-type device is attached to the smarthphone, and takes a high-resolution, microscopic picture of the inside of the ear. The image then can be transferred to a medical professional for diagnosis. The ultimate product, according to Tecco, will diagnose a "portfolio" of conditions, including other types of infection and possibly even cardiac conditions.
  • Pipette: Physicians will use this smartphone-based product to provide reminders and prompts to keep patients compliant with their treatment regimens, Tecco says. For example, if a patient has a new regimen of diet, drugs and therapy, the physician can craft a series of texts, messages or questions about pain, mobility, drug compliance, and other topics.

    The messages are automatically delivered according to the parameters the physician sets up, she explains. For example, with a CHF patient, the physician might include daily reminders about measuring their weight, and automatic questions each week about the patient's diet. Patients respond to the prompts, and the physician uses the information to determine if the patient needs follow up.

    One interesting note: The company's founders originally targeted the technology for service companies like hotels and restaurants, to interact with customers during travel. Ultimately, they saw a greater opportunity in healthcare, and switched focus to physician/patient use, Tecco says.

  • Skimble: This fitness app is the furthest along of all the mHealth candidates, and already has an offering in the iTunes app store. "It's doing quite well," Tecco says. The app is a relatively straightforward fitness product, providing personalized workouts and exercise guidance. One innovative item: It does offer some analytics that allow users to build on today's exercise or fitness data to craft future workouts, and ensure steady improvement. "We really wanted to make sure we had one fitness product in our portfolio," Tecco says.

To learn more:
- read the Rock Health press release [2]
- get more detail [3] at Xconomy
- check out coverage [4] at AllThingsD

Related Articles:
Rock Health gives mHealth startups platform [5]
Interactivity, time determine success of hospital apps [6]
Childrens Hospital of Boston launches app store competition [7]

Rock Health has been one of the most exciting news stories of 2011 in the digital health space and just this week announced its first class of start-ups, including three mHealth companies. Rock Health was co-founded by Harvard MBA student Halle Tecco, who has emerged as a rising thought leader in the intellectual battle to bring innovative digital health technology to consumers though her incubator's focus on attracting successful entrepreneurs to take risks in the under-appreciated Connected Care sector. I expect big things from these companies as their products mature and they graduate as the inaugural Rock Health class.

Wireless applications makes monitoring health easy | CTIA-The Wireless Association® Blog

Great feature on remote patient monitoring solutions. mHealth is absolutely (IMHO) the most under-appreciated emerging sector of information technology.