Non-invasive medical device to invade world markets
Queensland-born company ImpediMed, which designs and produces testing systems for non-invasive screening and monitoring of human disorders and diseases, is set to launch its devices in the United States and Europe.
Since its establishment seven years ago, ImpediMed has made substantial investments in the development of its bioimpedance analysis devices, with test marketing in Australia generating sales of $1.2 million for the year ended 30 June 2007.
With significant market acceptance building in areas such as the clinical assessment of lymphoedema, hydration monitoring and muscle wasting disorders, ImpediMed recently received regulatory clearance to market its lead Imp®XCA device in the US, Europe and Australia.
ImpediMed CEO and Managing Director Mr Greg Brown said obtaining the regulatory approval had been a critical milestone for the company and would drive demand for its devices, especially in the US.
He said the US market alone is estimated at $US 4.4 billion.
“ImpediMed has an exciting competitive advantage with devices that are objective, standardised, non-invasive, fast, and considerably cheaper than most existing alternatives,” Mr Brown said.
“However, more importantly our devices represent a medical breakthrough because they can help cancer patients prevent the progression of lymphoedema, which is one of the more potential side effects of treatment,” he said.
“The accuracy of data collected from our devices allows clinicians to diagnose and begin treating conditions such as lymphoedema long before they would with traditional methods.”
ImpediMed was established in 2000 by The University of Queensland’s main technology commercialisation company, UniQuest Pty Ltd, and Mel and Lucille Bridges. Mel is a well known biotech sector director and entrepreneur and his family company, Parma Corporation, has been instrumental in the early years to commercialise the ImpediMed technology developed by researchers from both The University of Queensland and the Queensland University of Technology.
About Lymphoedema
Lymphoedema is an accumulation of lymphatic fluid that causes painful swelling, and is a common complication among cancer patients who have had surgery or radio therapy.
Lymphoedema is a painful, lifelong condition for which there is no cure, adversely affecting quality of life. In Australia about 100 000 women suffer from lymphoedema as a complication of breast cancer treatment.
Lymphoedema sufferers also include those who have acquired it as a result of operations, accidents, chronic venous diseases and primary lymphoedema.
About 300 000 people in Australia have some form of lymphoedema.
Website: http://www.impedimed.com/
Last reviewed 5 September 2007
