Hicham Youssoufi Alaui, MBA, CFA Chief Executive Officer of CeiROx Life Sciences, c.k.a BioTissue
2020 has the particular effect of bringing to test the concept of disruption in technology. The Covid-19 crisis has also provided the filter of sustainability for an innovation. This principle applies to a technology in its broadest sense. It has a particular impact on medical technology.
In my opinion a disruptive technology can be truly sustainable only if it addresses two aspects: an existing status quo in terms of solutions in the market, and a cost-effective proposition. If we take the orthopedic industry for example, most of the solutions have been more about the symptoms rather than treating the underlying pathology. This trait only prolongs the deficiency of the body’s functioning. It increases hence the frequency of hospitalizations without ever being able to restore sound synovial joints. The Covid-19 crisis has displayed very well the need for short and less frequent hospital stays. Patients need to be served with efficient solutions, and healthcare professionals need to be provided with user-friendly ones. A combination of the two will reduce the hospital stay the frequency of visits as well.
The cost effectiveness aspect is another trait that touches every technology. In medicine, it has a particular significance because of the complexity of the definition of the “customer”. The patient, the healthcare professional, and the “payer” all tend to be qualified for the notion of customer. This complexity adds to the cost pressure for any healthcare solution. A marvelous new solution for cancer treatment, for example, will not be successfully adopted if it has an exorbitant cost structure.
Consequently, it will not achieve the desired impact on public health. A sound technology is defined as such only if increases the efficiency of its associated process and hence reducing the cost of its adoption.
If we subtract these two aspects on the orthopedics industry for example, particularly cartilage repair in synovial joints, we observe that most of the solutions present in the market today fail these two tests. Indeed, solutions around joint replacement and use of prosthesis do not achieve treating efficiently the underlying pathology by restoring functionality of the joint. They do not result hence in reducing the frequency of visits to hospitals. Likewise, early solutions around regenerative medicine that aim to regenerate cartilage in synovial joints did not achieve sustainable impact on patients. The need for revision creates actually a higher visit frequency to hospitals. If you can combine this aspect with higher costs both in terms of their associated process and in their product, these solutions tend to fail the filter of a truly disruptive innovation through the lenses of the current crisis.
In this context, I would like to cite the pertinence of the solutions brought forward by CeiROx Life Sciences, c.k.a BioTissue. The fourth-generation cartilage regeneration solution chondrotissue® presents a perfect example of a truly disruptive answer to a prevailing problem. First of all, it does address the underlying pathology efficiently and sustainably. This is demonstrated with 5-year post-surgery follow-up data that builds on 12-year post-surgery on its predecessor – the 3rd generation solution BioSeed C. This data displays very well the sustainable impact by regenerating high quality hyaline cartilage as measured across different time points post-surgery through second look biopsies. In addition, chondrotissue® as a solution cuts the cost associated to this procedure dramatically. With one hospital visit, the product can be implanted arthroscopically, and it can address cartilage issues across all synovial joints. Without requiring a prior biopsy, the process is cut to more than half of the time. As a user-friendly solution along with its cost-effectiveness and its sustainably efficiency in treating the underlying pathology. Chondrotissue® is a perfect example of solutions that pass the tests highlighted by the new Covid-19 crisis. It does also impact positively on the public health by promoting a more able population.