Bio Break: Funding Strategies for Medical Devices
Nick and Joris tackle a topic that’s more relevant than ever—raising funds for medical device development in today’s challenging financial landscape. With economic headwinds and cautious investors, startups and even established organizations face significant hurdles in securing funding. But there are ways to mitigate these challenges, and Joris shares strategic insights to align product development milestones with fundraising cycles.
Joris explains how breaking down a development program into distinct phases can help demonstrate progress and reduce risk, making a strong case to investors. Starting with an early-stage proof-of-concept system, developers can validate that their technology works as intended. This milestone not only reduces technical risk but also provides a compelling signal to potential investors that the project is on the right track.
The discussion highlights how subsequent phases build on this foundation, with the next funding round often focused on achieving clinical efficacy or regulatory submissions. These milestones unlock further investment, ensuring that the project continues to move forward incrementally. Finally, Joris emphasizes the importance of manufacturability and scalability, particularly for larger organizations aiming to bring the product to market. Demonstrating the ability to scale up production efficiently can attract interest from strategic partners or investors looking for a proven product ready for commercialization.
Nick and Joris also explore how this phased approach aligns with increasing funding needs while simultaneously de-risking the project. As the product progresses through proof of concept, clinical trials, and manufacturing, the price tag grows—but so does investor confidence, creating a balanced, stage-gated strategy for success.
Whether you’re a startup navigating tight budgets or an established company seeking to optimize your funding strategy, this episode is packed with actionable advice for managing financial risk in medical device development. Watch this Bio Break episode to learn how thoughtful planning and clear milestones can secure the funding you need to bring innovative medical technologies to life!
Funding Strategies for Medical Devices
Related Resources
In the world of medical device development, unexpected challenges often lead to critical product pivots. In this episode of Bio Break, Nick and Joris discuss one of the most dramatic pivots they’ve encountered—transforming a lab-developed test (LDT) into a lateral flow assay to expand its market reach.
Cryopreservation is essential in biological research, regenerative medicine, and stem cell therapies. But freezing biological materials isn’t as simple as placing them in a freezer. Nick and Joris dive into this fascinating process in this episode of Bio Break, using a real-world example—Nick’s frozen beverage can, which burst due to water expansion.
Continuous glucose monitors (CGMs) are revolutionizing how people track blood sugar levels in real time. But how do they work, and where exactly do they measure glucose? Nick and Joris explore the science behind CGMs, explaining the difference between blood glucose monitoring and interstitial fluid measurement.
Nick and Joris dive into the fascinating world of freeze-drying, exploring how this process extends shelf life and maintains the integrity of various products—including reagents used in in vitro diagnostics and even instant coffee!