What is your idea?
Our device SecuRetract is a minimally invasive, disposable, retractor for use in laparoscopic (keyhole) surgery. SecuRetract will improve patient outcomes by providing more effective and less damaging access for surgeons during operations and it will reduce complications associated with the current standard of care.
What problem are you solving and what is innovative about your approach?
One of the most common challenges encountered during laparoscopic surgery is removing obstructive organs, such as the bowel, from the surgeon’s view.
To overcome this, patients are currently placed lying in a steep, head-down Trendelenburg position, and the surgeon uses a combination of gravity and forceps to manipulate or retract the obstructive organs. However, this can significantly increase the risk of complications. In addition, existing retraction products fail to provide sufficient retraction and often require invasive insertion.
SecuRetract is specifically designed to minimise the trauma and tissue damage of moving obstructive organs, maximise organ retraction and simplify the surgical procedure.
Our innovative, patent-pending technology will vastly outperform current solutions, reducing the dependency on Trendelenburg positioning, minimising trauma on entry with a thinner instrument port requirement, and eliminating the risk of injury to internal organs.
What’s the backstory here and how did you get involved?
SecuRetract was specifically designed to answer an unmet clinical need identified by two consultant colorectal surgeons based in Ireland.
The Biomedical Design Research group at UCC optimised the design of SecuRetract and two successful Enterprise Ireland Commercialisation Fund awards facilitated product design and development, pre-clinical verification and the development of a Quality Management System.
I am the lead inventor of SecuRetract and I have been working closely with surgeons on the design and development for the last three years. My background is in Engineering and I am currently completing a PhD in Bio-medical engineering at University College Cork. Through an extensive library of networks we have established over the past number of years, we have built a strong commercial and technical team with senior business and clinical advisers to optimise the commercial potential. Sive Medical is poised to spin out from UCC in early 2016 with its revolutionary flagship product SecuRetract and a cohort of enthusiastic clinicians are lined up to act as early adopters once the product becomes available.
How is this idea commercially attractive?
Today more than 7.5 million laparoscopic procedures are performed worldwide, including more than 2 million in the USA alone. SecuRetract has the potential to be used in as many as a third of these procedures, generating an estimated worldwide potential annual market of $500 million.
Conservative sales projections based on market research and end-user surveys highlight attractive sales projections, particularly beyond four years. In Year 1 final device and process validation will be completed, years 2 and 3 will see steady sales growth in the U.S. and key European markets before reaching projected sales of approximately €40M by year 6. The plan is to have SecuRetract established with FDA and CE approval by Q2 2016.
Many key opinion leaders have already shown immense interest and eagerness to use SecuRetract, which is now ideally positioned to become the gold standard in the rapidly expanding laparoscopic market.
What are you looking for at the Big Ideas event?
We are looking for investment to produce the device, advance towards FDA and CE clinical milestones and roll out our international sales drive.