New European patent for Neola Medical’s disposables
Neola Medical has received a new patent approval in Europe for the Neola lung monitoring system. The patent specifically covers the probes that are attached to the chest and that enable continuous monitoring of the lungs. BioStock reached out to CEO Hanna Sjöström to find out what significance the new patent has for the project.
Lund-based Neola Medical has developed Neola to improve the care of premature babies. The medical device makes it possible to continuously monitor the children’s lungs, which in turn means that healthcare professionals can detect any complications earlier than they can do with today’s monitoring.
The monitoring itself is done via special light and detector probes that are attached to the child’s chest and provide an even and diffuse spread of light on the skin. This makes it possible to measure lung volume and oxygen concentration to provide an accurate picture of the condition of the lungs in real time. Neola probes are disposable items that are intended to be replaced daily on the child.
European Patent Approved
Neola Medical has now received approval for a new European patent, which applies to the probes and protects the technology until 2040. In addition to Europe, Neola Medical has also filed corresponding patent applications with authorities in the US, Australia and China.
“It is gratifying to receive this patent for our advanced invention, which has a completely unique optical design that allows laser light from a laser to be directed to the skin and evenly distributed over the surface, staying in place for an extended period”, writes Sara Bergsten, CTO of Neola Medical in a press release, adding: “As far as we know, there is no similar product on the market, making this patent approval significant and highlighting the innovation power of our technical team at Neola Medical.”
The foundation of Neola’s IP portfolio is the general patent that covers the concept of measuring gases in the body’s cavities. The patent family has a lifespan until 2026, which is why the company has continuously worked to expand the protection. The patent portfolio consists of several different families, which together aim to protect different parts of the technology until the years 2036 – 2041.
Comments from the CEO
BioStock reached out to Neola Medical’s CEO Hanna Sjöström to find out more about what the new patent means for the company.
The patent, which has now been approved in Europe, is part of a larger whole. Can you tell us a bit more about how your patent portfolio look?
– We currently have eight patent families in Neola’s IP portfolio, which covers a wide range of applications for medical purposes, as well as more specific technical patents that protect inventions linked to the product’s efficiency and measurement performance.
– The patent approval for the single-use products and the method used with these specifically with our Neola has now been granted in Europe and applications have also been submitted to the US and China.
How would you say that the ongoing work with the patent authorities in your focus markets is progressing?
– We work according to a sharp IP strategy with clear focus areas. We work in a structured way with the preparation of new patent applications and aim to submit new applications annually. We also work to protect our brand, design, user interface and algorithms.
– IP work often bears fruit in the long term, and several of the patents that are now being approved stem from hard work by the team several years ago. Therefore, it is especially important in innovative technology companies to keep a strong development team intact and ensure the long-term nature of the work.
The probes are an important part of your intended business model. Can you tell us a little bit more about the plan for the business model?
– Our business model is based on selling the company’s medical device, Neola, together with disposable items, where the major leverage in the company’s profitability is the recurring revenue for the disposable items that need to be replaced daily on the child.
– Today, there is no similar product on the market, which means that the patent approval is of great strategic importance for Neola Medical, as it protects our unique design of the advanced disposable products and is also significant for our future profitability model.
As mentioned, the probes are meant to be replaced on a daily basis. What is stopping hospitals from deviating from that and using the same probes multiple times?
– I see the risk as very small that hospitals will deviate from the user instructions, and thereby jeopardise patient safety in such a vulnerable patient group as premature babies. The technical accuracy of the probes does not change even when using the same probe multiple times, but to ensure that the adhesive of the probes adheres to the delicate skin of children, the probes need to be replaced daily.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
