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MedTech Innovator Names Opharmic Technology as 2021 Asia Pacific Final Competition Winner

Startup receives grand prize of $ 175,000 for Ultrasonic non-invasive drug delivery device

LOS ANGELES & SINGAPORE, October 21, 2021– (BUSINESS WIRE) –MedTech innovator, the world’s largest accelerator for medical devices, in partnership with Association for medical technology in the Asia-Pacific region (APACMed), the first and only regional association to give the medical technology industry a unified voice, announced today Opharmic technology as the winner of the Asia Pacific Accelerator Program 2021. The winning company was determined by a live virtual audience vote on October 20th during the Grand Finals of MedTech Innovator Asia Pacific 2021, which is being organized by MedTech Innovator in partnership with APACMed.

Hong Kong-based Opharmic is developing a transformative ultrasound device for non-invasive ocular drug delivery aimed at replacing intravitreal injections. More than 500 million patients worldwide suffer from eye diseases such as macular degeneration and diabetic retinopathy. While there are effective drugs that can improve these conditions, up to 30% of patients oppose these treatments because they require direct injection into the eye.

“The MedTech Innovator Asia Pacific Accelerator Program is a truly unique program that not only provided us with valuable industry insights, but also gave us the rare opportunity to develop a very exclusive network through its corporate mentorships,” said Dr. Langston Suen, Founder and CEO of Opharmic. “We are honored to be recognized as the 2021 Asia Pacific Grand Prix winners and this funding will support Opharmic in our mission to provide a non-invasive alternative to terrible eye injections to patients around the world.”

From a pool of more than 500 applicants, Opharmic was awarded the non-dilutive grand prize of $ 175,000 to advance its business goals and mission to improve future patient health outcomes in the Asia Pacific region. The company also received a one-year membership in APACMed and the Cambridge Consultants Product Development Award, which includes exclusive technical and consulting services from Cambridge Consultants. Biorithm, wonder, and VPIX Medical also participated in the organization’s accelerator program and participated in the Grand Finals, each of which received a cash prize of $ 10,000.

“This is a game changer for innovation, disruption and improvement in the medical device industry,” said Paul Grand, CEO of MedTech Innovator. “I am proud to announce Opharmic as the winner of this year’s Asia Pacific MedTech Innovator Competition for its non-invasive ocular ultrasound drug delivery device. We look forward to continuing our work to identify and identify the best medical technology startups in the region connect with a network of potential partners and investors to help them achieve their goals. “

“We sincerely congratulate Opharmic on earning the APAC MedTech Innovator title,” said Harjit Gill, CEO of APACMed. “The Asia-Pacific region is a hot spot for medtech innovation and all finalists who entered today’s competition are developing breakthrough technologies with the potential to improve patient lives. APACMed is proud to support the MedTech Innovator APAC program and we look forward to seeing Opharmic advances as they advance their unique healthcare solution toward commercialization. “

“As a judge for today’s competition, I was thrilled that the Opharmic device was recognized for non-invasive ocular ultrasound drug delivery,” said Peter Hawkes, senior director of marketing, Ethicon, Johnson & Johnson. “Johnson & Johnson is proud to partner with the MedTech Innovator APAC Accelerator, and we are committed to continuing to advance new and emerging medical technologies that demonstrate real benefit and value.”

“Congratulations to the winners and finalists of the MedTech Innovator Asia Pacific competition,” said Audrey Lok, Director of Healthcare and Biomedical, Enterprise Singapore. “We are excited to be working with MedTech Innovator again this year to identify and support emerging health innovations from around the world. Singapore has built a dynamic biomedical ecosystem and we welcome global start-ups who are here to help us generate ideas and commercialize groundbreaking solutions, only for Singapore, but regionally. “

MedTech Innovator has carefully selected 20 world-class startups from across the Asia-Pacific region for its 2021 program, connecting companies with industry leaders and giving away over $ 300,000 in cash and non-cash prizes. During its last competition, MedTech Innovator also announced the winners of several other awards.

Biorithm, a company developing a remote fetal monitoring device, was announced as the winner of Enterprise Singapore’s (ESG) Startup SG Award, which includes a grant of SGD $ 30,000 and access to extensive resources and networks within the Singapore startup ecosystem includes. In addition, they will be accelerated to ESG’s global startup competition SLINGSHOT at the Singapore Week of Innovation & TeCHnology (SWITCH) in November, where the top 100 can present their solutions on a global stage and win additional prizes.

Nayam innovations, a company that develops intraocular lenses that can be personalized with a safe dose of light before or after implantation, received a one-year stint at JLABS @ Shanghai, a state-of-the-art facility that can host more than 50 startups across China in the pharmaceutical segments , Medical devices, consumer goods and health technology.

Nayam Innovations also received the Sterile Barrier System Design & Development Award from Oliver Healthcare Packaging, where they received exclusive technical and consulting services from Oliver Healthcare Packaging in developing the sterile barrier system for their device.

Adiuvo diagnosis, a company developing a high-speed, marker-free, multispectral imaging device to detect and classify pathogens on wounds, was announced as a winner of the MedTech Innovator Asia Pacific Best Video Award with a cash prize of $ 5,000.

Asia Pacific 2021 final judges included: Peter Hawkes, Senior Director of Marketing, Ethicon, Johnson & Johnson; Yuji Takamiya, Senior Supervisor, Olympus; Ryota Umegaki, Business Development Manager, Nipro Medical Corporation; Julie Tay, Senior Vice President and Managing Director, Asia Pacific, Align Technology; Florian Belohlavek, Senior Vice President and Head of Strategy Asia Pacific, Siemens Healthineers.

MedTech Innovator works closely with stakeholders from across the industry to drive early to mid-stage growth for startups. MedTech Innovator’s 2021 Asia Pacific Program sponsors include Johnson & Johnson Medical Devices Companies, Align Technology, Nipro Medical Corporation, Oliver Healthcare Packaging, Olympus Medical Systems Group, Siemens Healthineers, Cambridge Consultants, and Enterprise Singapore. The MedTech Innovator Asia Pacific Program is carried out in partnership with APACMed.

About MedTech Innovator

MedTech Innovator, based in Los Angeles, California, is the world’s largest accelerator for medical device companies and the leading nonprofit startup accelerator in the medical device industry.I Its mission is to improve the lives of patients by accelerating the growth of companies that transform the healthcare system. MedTech Innovator brings healthcare industry leaders together with early stage and emerging growth innovative medical technology companies for mentoring and support.

Further information on MedTech Innovator can be found at https://medtechinnovator.org/ and follow @MedTechAwards on twitter. To get industry insights and highlights about the current and alumni participating companies of MedTech Innovator, subscribe to the monthly newsletter.

About APACMed

APACMed was founded in 2014 and is headquartered in Singapore. APACMed represents manufacturers and suppliers of medical devices, devices and in-vitro diagnostics, industry associations and other important stakeholders in the medical technology industry in the Asia-Pacific region.

APACMed provides a unified voice for the Asia-Pacific medical device and in vitro diagnostics industries, and works proactively with bilateral, regional and local government agencies to create guidelines, demonstrate the value of medical technology, and harmonize regulation support financially. APACMed seeks to promote a digital health innovation and impact policy that improves patient access to health care by partnering with medical device associations and companies in the Asia-Pacific region.

APACMed also hosts the annual Asia Pacific MedTech Forum.

www.apacmed.org

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I Gibbs, M., Johnson, B., Silva, BA, & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerator Insights Cipher Bio. Retrieved on September 15, 2020 from https://www.cipherbio.com/blog/life-science-accelerators-insights/

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020006173/en/

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