Colm McGarvey and Garrett Ryan are eliminating collapsed lung complications
Reposted by InterSearch Ireland
The Irish medtech sector consistently punches above its weight. It helps that 19 of the top 25 global companies covering the field of medical devices, diagnostics and software development are based in Ireland. It has been a crucial factor in fostering a vibrant start-up community that has broadened the manufacturing mix, while 50% of the 450 medtech companies in the Republic are now homegrown.
Selio co-founders Colm McGarvey and Dr Garrett Ryan: based in Trinity College Dublin, their novel medical device will transform lung biopsy procedures by eliminating collapsed lungs.(Source: www.irishtimes.com )
Selio, based in Trinity College Dublin, is an example of what is emerging as a consequence of an ecosystem that is nurturing innovation. Backed by the right supports, it is set on a path towards commercialisation.
It has developed a novel medical device that will transform lung biopsy procedures by eliminating a complication in the form of a collapsed lung (pneumothorax), which is common, costly and dangerous. This new treatment could prevent approximately 121,000 extra hospital admissions yearly; saving healthcare costs of over €1 billion globally.
Selio may still be made up by just two people, Colm McGarvey and Dr Garrett Ryan, but it has cleared big hurdles within a short period and early endorsement has come with a series of innovation awards.
A collapsed lung occurs when the lung biopsy needle pierces the lung and air escapes into the chest cavity. This substantially increases the cost of care by converting an outpatient procedure to one requiring hospitalisation, explains McGarvey – its frequency is stark; arising in some 33 per cent of cases.
He outlines the significance of their product in the context of lung cancer; the most common cancer worldwide – with over 1.8 million cases diagnosed globally, including about 2,300 Irish cases every year. Lung biopsies are the most common method for diagnosis – by way of transthoracic needle biopsy (TTNB) but they can be hazardous because of collapsed lung risk.
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Biopsy Devices Market Worth 2.42 Billion USD by 2022