Campaign

Company Summary :

SymPhysis has developed its product, releaze™, as the first significantly novel fluid drainage device in over 25 years. Close to 50% of all metastatic cancer patients are affected by MPE (fluid in chest) during the course of their disease. Patients with MPE experience breathlessness (Dyspnea) and chest pain which impacts patient independence and requires clinician or homecare assistance. 

Key highlights: 

• 9 pre-clinical trials completed to date supporting safety and performance of key components of releaze™ product.  
• 2 usability studies conducted at the Mayo Clinic in Rochester, Minnesota, have confirmed the ease of insertion and removal of releaze™ by healthcare professionals, highlighting its potential to enhance procedural efficiency and usability in clinical settings.
• 3 Patient representative user studies to date in UK (with the National Innovation Centre for Ageing – A world class simulation centre) demonstrated ability of 95% of users to self-drain independently
• €9.2 million in funding to date; €6.2m in equity funding and €3m in grant funding . 
• Winner of multiple Lifescience awards recognising the work in patient-centric product development and in building a business.
• The management team has significant experience in regulated medical device design, pre- clinical, clinical studies and regulatory approvals. The experience of the team comes from multinationals such as Medtronic, Boston Scientific, Becton Dickinson, Johnson & Johnson, ICON and Veryan.
• Total Addressable Market (TAM) is $2 billion based on 550,000 MPE patients in US and EU annually. Serviceable Obtainable Market (SOM) for patients eligible for Indwelling Pleural Catheters (IPCs) is 243,000 patients worth $870m. 
• Cost savings estimated at 30% vs traditional IPCs. 
• Key opinion leaders in industry see potential massive disruption for an under met medical need.