23 of Aalto Startup Center ecosystem’s startups are attending the Arctic15 event. Arctic15 is a Startup Investor Event and a meeting spot for startup entrepreneurs, investors, corporates and media from 60+ countries.
Who are you and what is your innovation?
SpectroCor: We have developed a method to observe oxygen availability in the heart, offering a huge opportunity to improve results in open-heart surgery. This breakthrough technique can optimize heart protection to enhance patient recovery, save lives, reduce permanent injury, the need for intensive care and hospitalization, and reduce costs.
In open heart surgery, every heart suffers from a lack of oxygen. Despite arbitrary protection, up to 20% of the cases undergo a more severe insult causing transient or permanent heart failure. Currently, there are no means to measure the depth of hypoxia in the heart during heart surgery. Without measurement, heart protection cannot be optimized.
Our measuring device and algorithms have shown excellent performance in heart operations. We are under clinical testing, while we work for the CE approval for the device. Our market is driven by increasing number of heart operations and the need for improvement in quality of care. The global market for cardiovascular surgery medical devices is expected to reach $82 Billion by year 2026 with the market annual growth rate (CAGR) of 6.4%. Working in close collaboration with top heart surgeons in Europe, US and Japan, SpectroCor device is reaching up to 2 million heart operations annually.
What is your idea’s impact?
SpectroCor: Preventable heart failure due to heart surgery is an unnecessary burden for patients and surgeons, and a significant problem for hospitals, and health care payers. Preventable heart failure causes heavy resource demand. In tertiary referral hospitals, heart surgery uses over 3/4 of all elective intensive care and more than half of the total intensive care utilization. Postoperative heart failure cases use up to 80% of the intensive care resources allocated for cardiac surgery. Globally, aging populations and increasing incidence of cardiovascular diseases cause a huge threat to the ability to provide medical care to those in need.
What are your main Sustainable Development Goals?
SDG 3.4*: Defines the targeted reduction of premature mortality related to non-communicable diseases by 2030, including the prevention and treatment of cardiovascular diseases.
*Source: United Nations: sdgs.un.org/goals
What are you looking for and what are your next steps?
SpectroCor: We are working with clinical trials with the best heart surgery providing hospitals. The device shall be in the market in Q4/2024.
On Aalto University’s page: aalto.fi/fi/yrittajyys-ja-innovaatiot/spectrocor