Matthew MacEwan of NanoMed, Washington Uni, St Louis, winner of 2011 LES Foundation International Graduate Student Business Plan Competition




Episode Loading...




PharmaTelevision requires Javascript enabled and Adobe Flash Player to watch our programmes. If you do not have Flash installed, you can download it for free from the Adobe Flash homepage.

Improve your Internet experience and start watching exciting new video content.

Video title: Matthew MacEwan of NanoMed, Washington Uni, St Louis, winner of 2011 LES Foundation International Graduate Student Business Plan Competition
Released on: July 27, 2011. © PharmaTelevision Ltd
Share/save this page:
Email
Bookmark
Facebook
Twitter
LinkedIn
Follow us:
RSS
Twitter
  • Summary
  • Transcript
  • Participants
  • Company
In this episode Adrian Dawkes talks to Matthew R. MacEwan from NanoMed, Washington University St Louis
Nanofabricated Dural substitute technology
Adrian Dawkes:
I am here at the Licensing Executives Society International meeting in London, England. With me is Matthew MacEwan, of NanoMed LLC this year's winner of the grand prize Business Plan Competition, Matthew welcome.
Matthew MacEwan:
Thank you, it's a pleasure to be here.
Adrian Dawkes:
And firstly congratulations on being declared the winner of the competition, I understand it's a very prestigious competition so you must be pleased to be declared the winner?
Matthew MacEwan:
Thank you, as you said it's a great honor and a privilege to be here and to have the opportunity to talk to the LES members and also meet so many people in the IP space here.
Adrian Dawkes:
Okay, perhaps you could just outline for us your technology the idea that you brought forward to this competition?
Matthew MacEwan:
So the very first our lead product in our portfolio is a novel type of nanofabricated Dural Substitute. So a Dural Substitute is a specialized type of surgical mesh that neuro surgeons use to close defects in the protective membrane or in the brain in spinal cord which is the called the dura mater, essentially surgeons will go ahead and either sow this material into this membrane or lay the material over the defect in the membrane and use it to again seal the membrane sort of containing the brain and spinal cord allowing the CSF to build back-up and again restore the nerve tissue towards normal state. We have tested it heads up against a few products in the market today and we believe that our product is not only easier for surgeons to handle, it saves sometime in the OR and the way that it's implemented and additionally our materials have been shown to promote faster and greater neuro duralization which is essential a healing of the dura mater.
Adrian Dawkes:
And nano technologies it's very of the movement, but I guess your story started someway back in this, so where did it all begin this idea?
Matthew MacEwan:
Right, so it all really began little over a year ago. I was working in laboratory of Dr Jin-Yu Shao at Washington University, Department of Biomedical Engineering and I was working to essentially use nanofiber constructs the pattern neurons for artificial neural networks and really one day we came up with idea of really make these materials you know much thicker and when we made the materials thicker they had a very unique feel and quality to them and I actually went over to some surgeons that I knew at the hospital being a medical student and took them these materials and said you know we have this material it has it's unique biological property to it and simultaneously has a unique material properties and this unique field to it and could you really think of any good uses as a type of possibly surgical mesh or some type of you know dressing or construct and we went to a number of surgeons and got a number of good ideas and from that point not only filed a regional patent on the technology which has now gone PCT but additionally we started investigating the application of using this material as a Dural Substitute which is a specialized type of surgical mesh out of these neuro surgical procedures to close the membranes throughout the brain and spinal cord.
Technology's commercial perspective and business plan model
Adrian Dawkes:
So is that, its interesting that you say there one of the first steps you've made was to go to some key opinion leaders and get their import on whether this was a viable, technical and useful clinically for people so that was and eventually you did that first off without looking any commercial aspect what so ever so that really validated the idea for you early on?
Matthew MacEwan:
Right, right it's really interesting in a sense that we didn't come out this from a business perspective, we really came out this is from a technological perspective and thought this technology could improve this class of medical device and you know essentially sort of use that as the foundation for what later became NanoMed LLC it was only later that we really decided let's see what the commercial value is and specifically look at how we could put together a business plan that could you know turn this into a real you know living, breathing entity that could bring these products to market.
Adrian Dawkes:
So it's not that one way you sort of stepped into the commercial side of this when you realized there was a need for a more business oriented approach to this and is that what drew to the Business Plan Competition?
Matthew MacEwan:
Right, so it's very interesting again so as an any PhD student at Washington University we are trained to be a bridge between the clinical space and the research space and that's always been a really strong objective of mine to really serving that role and as I have gone along in my training you really I've really realized that if you want to bring these technologies up into general use you have to understand this commercial side, you have to understand the business development behind technologies and products and so when we had this technology and we knew the benefit of the technology we really said you know what to bring this out we are going to have to put the business behind it and really put together a plan that can show this is you know a valid business opportunity and a valid adventure.
Adrian Dawkes:
Okay, so because this is a pharmaceutical therapeutic cum medical device application you would advocate the get the technology right first, get the clinical validation from experts and then get the commercial earning behind it to actually take this forward?
Matthew MacEwan:
Right, right. I believe so I mean I think again I've seen other models were you know you want to make a business sort of grow or be more profitable and so you use that as your starting point and you just start searching for whatever you think you can make money offer, in my sense or I guess in my perspective I want to focus on really revolutionary technologies and then figure out the ways to bring them up. So in some senses I think we are reversing the order of the development process.
Competition in Nanotechnology space
Adrian Dawkes:
What about the competition there is lot of other companies out there that are already in the marketplace in that the nanotechnology space and wound healing, wound dressing have you evaluated those, where do you think you sit with those sort of companies?
Matthew MacEwan:
Sure, so you are right there are few companies out there that are interested in sort of the nanotech, and nanofiber applications and especially in the wound dressing area. So specifically I think we are unique in the sense that we use a very different approach to making these nanofiber materials, we also have the proprietary the rights to specific patterns of nanofibers and compositions of nanofibers and methods of assembly which give us I think an edge up in some ways.
NanoMed LLC's future plans
Adrian Dawkes:
And looking to the future, the future starts the day of winning the competition had how do you see your company growing, engaging with the big players that are in this marketspace and then ultimately what's the exit for you, your investors and looking forward?
Matthew MacEwan:
Sure, so you know at this point we are trying to make contact with a number of sort of bigger players in this space, we see our work with them as inter goal to their success of in bringing this technology to market. We have had a few conversations with some bigger firms and are continuing some of those today, overall though we really see NanoMed as being either a unique manufacturer of these materials or simultaneously a unique platform for research and development of these types of nanofabricated materials, and products, and devices.
Adrian Dawkes:
Well thank you Matthew, I look forward to hearing more about your success and your company growing and congratulations again on winning the Business Plan Competition.
Matthew MacEwan:
Great thank you , it's been a pleasure to be here I would appreciate all your time today.
Adrian Dawkes
Adrian Dawkes has significant multi-discipline expertise spanning research & development through to sales, marketing and business development from 25 years in the pharmaceutical, biotechnology and in vitro diagnostics sectors. Adrian Dawkes has held senior positions with Johnson & Johnson, drug discovery platform company Acumen Bioscience and the Healthcare Consultancy company Execute Technologies. Adrian has a BSc in Biochemistry and a PhD in Immunochemistry from Oxford Brookes.
Matthew MacEwan
CEO
Matthew MacEwan , M.D./Ph.D candidate, inventor, and founder/CEO of NanoMed LLC.
PharmaVentures
PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.
NanoMed LLC
NanoMed LLC used its patented-pending fabrication technique, developed at Washington University-St. Louis, and FDA-approved polymers to develop its lead product, DuraStar Dural Substitute. This first-of-a-kind nanofabricated, nanostructured, synthetic surgical mesh is used to repair damage to the protective membrane that covers the brain and spinal cord. NanoMed 's unique approach has allowed to create a complex, functional nanofabricated mesh material that is lightweight, versatile, easy to handle and increasingly safe and reliable and Nanofabricated biomaterials represent a substantial advance in the surgical mesh industry and we are at the front of the wave that is bringing this technology to the surgical community.