My earlier posts (Why Bother? Is the Fight Really Worth It? and Five Hard-Learned Lessons from a Medical Device Start-Up) have focused on issues relevant to the business side of TecMed Inc. that we thought were relevant to any medical device technology start-up. Friends and peers have mentioned that the articles have been easily pertinent to their small businesses, start-ups, non-profits, and their experiences in business outside of the medical device technology industry. As an author, I like to think that what I write is relevant. However, as a proud representative of TecMed Inc., I decided it was time to talk a bit more specifically about who we are and what we do.
At TecMed, Inc. we focus on blood glucose monitoring IP. So, what does that really mean? Simply put, it means that we develop technology and then sell or license the rights to use our methods in the licensee’s specific designs. Prior to joining the TecMed Inc. team, my experiences were grounded deeply in higher education and communication, and I was not confident in my understanding of what it meant to license, or even develop, Intellectual Property, or “IP” as it is known in the industry. Alan Leszinske explained that IP is like a song. An artist writes, produces, and perfects a song, then performs it. A team supporting the performing artist ensures the song is at its “ideal” state where it is then sold as some form of digital copy. The artist and the surrounding team earn a profit, not from the sale of the original song, but of the sale of repeated uses of the song as it is accessible as a CD, MP3, or other “re-producible” format. He explains that all the hard works of development and refinement of the song are compensated for the licensed rights to use the song. At TecMed, instead of making music, we make medical device technology.
Our scientists, engineers and chemists have dedicated nearly two decades of developing, refining, and perfecting medical device technology that measures blood-glucose in both clinical and consumer contexts. The IP package, or “knowledge CD” that was created specifically for surgical and clinical environments is ready to be brought to market. Just as a musical artist has to work with a refined team of specialists to ensure their product is of the highest quality, TecMed Inc. follows the same process. Our IP has been proven in more than 30 blind and double-blind human study trials. These studies are vitally important as they show the technology is effective, it is safe, it does what it is supposed to do and can consistently and accurately perform. Perhaps even more importantly, our IP is backed by four issued patents, two patent applications under review with a recommendation for international patent approval
We have a multitude of medical professionals who have repeatedly touted not only the significance of our technology and IP packages, but also the medical demand for our devices. If there were a virtually unknown, up-and-coming rock-star in the world of medical device technology, specifically focused on blood-glucose measuring systems, TecMed Inc. would be plastered over the front page of every major pop culture publication. Unfortunately, medical devices do not quite hold the star power of good ol’ fashioned pop icons, yet our IP is ready for the spotlight. We might not be the next Bono, but we will undoubtedly make the history books when we hit the stage with our IP debut.