Admetsys

Admetsys is a Boston, MA (USA) based company. Admetsys has developed the first fully-automated blood glucose control system (i.e. artificial pancreas) for hospital care, optimizing a procedure that have remained unchanged for 30 years. www.admetsys.com

Elevator Pitch:

Novel artificial pancreas for hospital that improves health outcomes and health economics through high-tech automation.

Product/Service description:

Diabetes is the fastest-growing cause of inpatient and surgical care costs in the world. Worldwide spending on diabetic care already exceeds $400 billion annually, with 43% of these costs coming from hospital care in Europe and the United States.

Over 40% of patients admitted to hospital are now at diabetic risk. Despite this, techniques for controlling glucose levels in hospitalized patients have remained unchanged for nearly three decades, and are too imprecise, labor-intensive, and coarsely implemented to address the growing need.

The Admetsys Smart Pancreas™ measure and maintains a hospitalized diabetics blood sugar levels in real time so their blood sugar mirrors that of a health patient.

Proper control of blood glucose levels and avoidance of harmful low levels saves lives (34% mortality reduction), decreases complications (by 40–50% over numerous co-morbidities), and speeds recovery (by 1.8 days in critical care patients). Foremost, this is a fundamental standard of care issue, increasingly cited by regulatory and standards bodies. Understanding of this need is becoming a key financial driver for hospitals as well, with impact both on revenue (from outcome-based reimbursement) and cost savings (independently shown to be $7,500+ per patient).

How it works:

The Admetsys Smart Pancreas™ attaches to a patient’s intravenous line, and automatically measures blood glucose concentration in real time with no blood loss. From this, it creates an adaptive, computational model of each patient’s metabolism, and infuses precisely-optimized, counterbalancing treatment—insulin to reduce high glycemic levels and glucose to raise and support falling levels.

Why did you apply for the Next Step Challenge program?:

It was the group of mentors and advisors that drove our interest in Next Step Challenge. The Life Sciences team at Next Step Challenge is top notch and they have been instrumental in formalizing our European regulatory and commercialization strategy. In addition, the Nordic countries are pioneers when it comes to understanding the importance of glucose control in hospitalized patients. Due to this, Denmark is a great place for us to build a base in Europe.

How did your company startup, how did you get the idea?:

The idea was the result of a direct challenge by a critical care nurse to improve diabetic care in the hospital. She asked, “If you doctors are so smart and there is all this technology out there then why can’t you figure out a way to automate diabetic care?” Out of that interaction, Admetsys was born.

Other big news:

Since participating in Next Step Challenge, we have gained significant traction in Europe including preparing for European commercialization in early 2016, partnering with local Danish hospitals as clinical trial sites, and upcoming presentations at several European events including Tech Tour, Health Tech Summit, and Hello Tomorrow Challenge. In the USA, we continue to add accomplishments including partnering with great hospital partners as clinical trial sites, finishing production engineering, and formalizing supply chain partnerships. In addition, we have presented at or won several pitch events including SXSW HATCHPitch, M2D2 New Ventures Competition, Venture Forum, eMerge Americas, 1776 Challenge Festival, American College of Cardiology Showcase, and Medical World Americas.

Founder(s):

Jeff Valk, Tim Valk, MD, Glenn Robertelli

Employees:

Are unpaid founders employees? If so, 3.

Headquarters:

US HQ: Boston, MA; European HQ: Esbjerg, Denmark

Year Founded:

2012

Fun fact:

The three co-founders of Admetsys all received their Bachelors degrees from the University of Michigan, Ann Arbor. Go Blue!

Website: www.admetsys.com

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