Company
For over 10 years, HyperMed, Inc. has been developing
a new medical imaging device (OxyVu™) which
can differentiate between healthy and diseased tissue, radically
improving both diagnosis and therapy for patients with diabetic
foot ulcers and peripheral arterial disease. The
Company received FDA clearance for the OxyVu product in November,
2006. HyperMed completed financing in January 2007 from Greenwich
Biotech Partners which will be sufficient to enable the Company
to achieve profitability.
Existing clinical and research methods (e.g. ankle brachial index,
transcutaneous oxygen measurements, pulse volume recordings, and
laser Doppler flowmetry) provide no anatomically relevant information
and limited tissue physiology and chemistry data. OxyVu delivers
immediate, quantitative information to physicians in the hospital
or clinic for assessment of tissue and its microvasculature. Without
a quantitative metric of the Oxygen Anatomy™,
today’s foot and ankle surgeons, vascular surgeons and wound
healing experts have been hampered in their assessment of localized
tissue. This has resulted in unnecessary procedures, failed therapies,
nearly 150,000 lower limb amputations in the United States each
year and in unnecessary suffering for millions of patients
with peripheral arterial disease and diabetes.
HyperMed’s OxyVu finally provides a way to improve care
for this large population of patients by providing the physician
with an adjunct to diagnosis to make a more informed decision.
HyperMed has validated its technology in studies utilizing over
3,500 images in more than 300 subjects and continues to expand
its clinical database in collaboration with leading civilian and
government medical institutions.
OxyVu has valuable applications in a number of important markets
including diabetes, wound healing, peripheral vascular disease,
shock and cancer. Given that the diabetes epidemic now afflicts
over 200 million people worldwide and will grow further to impact
more than 300 million in the next 20 years, we have chosen to
first commercialize OxyVu to target the large and increasing unmet
need of evaluating and diagnosing individuals with diabetic foot
complications and/or peripheral arterial disease (PAD). Healthcare
spending in the United States is roughly $15 billion in these
areas.
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