Progress

Dr Ray Simpkin and Research Nurse Davina McAllister

Introduction

Klein Medical is a New Zealand company that is developing low cost technology, to verify intravenous drugs in proprietary IV consumables at point-of-administration. The benefit of this application is it significantly reduces the chance of medication error in the clinical environment.

Klein Medical wishes to license the Drug Verification technology to large multinational companies involved in intravenous drug delivery.

The solution involves a low cost analyser working in tandem with an infusion pump using proprietary infusion consumables; or as a standalone device with proprietary syringes, for manual administration Using the Klein Medical solution licensees will have the opportunity to add value to infusion pump, infusion consumable, drug and solution sales.

By verifying the drug at point-of-administration the solution has the potential to reduce preventable medication errors in US hospitals. Intravenous errors cause over half (Eskew JA, Jacobi J, Buss WF et al, 2002) of the 400,000 preventable injuries per annum, that occur in US hospitals, at a cost of US $3.5Billion (Source: Institute of Medicine. 2000, 2006).

Klein Medical believes that its solution will be the most accurate, safe, low cost, flexible and user-friendly way of addressing intravenous medication safety.

The benefit to the licensee is that Klein’s technology has a short-term return on investment for their hospital customers, while allowing them to increase or maintain their margins and overall value/brand proposition.

The Technology

Klein Medical is completing 10 years of research and development of its unique spectroscopic solution.

Since 2007 the company has been exclusively focused on drug verification at point of administration. Previously the company worked on a point of care blood analysis application.

The company has filed four US patent applications to protect its innovation. Patents have also been filed internationally in most major healthcare markets. Klein Medical’s first patent has been approved in the US and Japan, amidst other markets. More patents are to follow covering recent developments. All intellectual property resides with the company.

Current Status

Klein Medical has recently successfully completed a round of blind trials on a set of common intravenous drugs.

As the company consolidates its test results and continues its commercial development it wishes to secure commercial partners in the infusion pump market at the earliest opportunity.

The company therefore wishes to determine the interest from potential licensees and establish a framework and schedule of requirements to enable both parties to enter into discussions regarding a licensing partnership.