© kentoh dreamstime.com Electronics Production | August 19, 2016
Innokas gets EUR 700'000 in EU funding
Innokas Medical was granted funding by the European Commission for the development of Otivio’s FlowOxTM system that is used for home treatment of peripheral arterial disease
The European Commission has granted Innokas Medical almost EUR 700 000 of funding. The funding was granted to Innokas from the Horizons 2020 Fast Track to Innovation (FTI) pilot, which provides funding for bottom-up proposals for close-to-market innovation activities in any area of technology or application, and the aim is to reduce time from idea to market. Innokas Medical is a partner in a consortium led by Otivio to develop the next version of FlowOx, a clinically promising, patented and cost-efficient home treatment solution for Peripheral Arterial Disease (PAD). The market potential for FlowOx is extremely high as peripheral arterial disease affects more than 200 million people globally, and the patient population is increasing at a rate of 20 percent per annum due to an aging population and epidemic growth of diabetes. The global costs of treating PAD amount to USD 210-380 billion annually. “It is great to be part of the team developing the next version of FlowOx. This reminds me how important and meaningful our work in the health tech industry is. Together with other partners, we will develop a system that can improve the quality of daily life for millions of people. Through this innovation we can contribute to improving healthcare all over the world”, says Tommi Kaasalainen, Executive Vice President at Innokas Medical. Peripheral Artery Disease is caused by the deposition of fatty material on the inner walls of peripheral arteries, reducing perfusion and nutrition to the muscles and skin. The non-invasive FlowOx system is based on negative pulsating pressure therapy, and it increases blood flow, pain reduction and wound healing in feet and legs, in order to prevent amputations and increase life quality. Co-operation across borders The consortium consists of partners from Norway, Finland and the UK. Otivio is the owner of FlowOx IP and the main coordinator of the consortium. Innokas Medical is responsible for design and manufacturing, and the University of Salford and Bangor University are responsible for clinical trials and evaluations, and health economic evaluations. Otivio and Innokas started design and manufacturing-related co-operation earlier this year, when Innokas became the manufacturer of Otivio’s current FlowOx system. Otivio was first introduced to Innokas by HotSwap, a leading medical and IVD equipment design services provider in Norway, Sweden and Germany and part of the French Alten Group. HotSwap and Innokas started a strategic partnership in 2014 and this project with Otivio and the other partners is a direct result of this partnership. HotSwap is also participating in the design of the new FlowOx. “We are happy about having received the Fast Track grant together with the consortium that we created for our project. With the selected partners, the development of our new product will benefit from a very strong base of clinical and technical expertise. The co-operation with Innokas has started very well, as expected”, says Andreas Mollatt, CEO at Otivio AS. The FlowOx consortium was granted over 2M€ funding. Kaasalainen believes that especially Innokas’ proven OEM-level capability to develop and mass-manufacture medical equipment for the global market and take care of related regulatory matters made the competitive position of the FlowOx consortium’s grant application stronger. “I believe that our combination of design, manufacturing and regulatory capabilities convinced the evaluators of the Horizons 2020 Fast Track to Innovation grant. The team at Innokas has broad experience of transforming health tech ideas to finished medical equipment, mass-manufacture these for the global market, and take care of all quality and regulatory matters. A good reference of such capabilities is our VC150 Vital Signs Patient Monitor that is distributed globally by GE Healthcare. In addition to product development and manufacturing, Innokas is also responsible for regulatory approvals for the monitor in EU, USA and other countries. These capabilities now create value for Otivio and our other customers”, Kaasalainen says. The newly established partnership between Otivio and Innokas is a significant step in developing Innokas position on the Nordic market, as Otivio is Innokas first customer in Norway. Innokas has customers now in Finland, Sweden and Norway.
Mycronic, Indium forge strategic partnership Indium Corporation has announced a strategic partnership with Sweden-based Mycronic, to develop no-clean and water soluble solder pastes for jetting applications.
SCHMID delivers PlasmaLine to Hofstetter PCB SCHMID announced it has installed the company’s first PlasmaLine comprising ICP etch & sputter deposition of its Korean JV SCHMID AVACO at Hofstetter PCB AG in Switzerland.
Cobot market to reach USD 9+ billion by 2025 A new report from Tractica is forecasting continued rapid growth for the global collaborative robot (cobot) market over the next few years, reaching revenue of USD 9.7 billion by 2025.
MixComm scores USD 8+ million in series B round New Jersey-based fabless semiconductor company MixComm has secured USD 8.6 million in series B funding led by existing investor, Kairos Ventures.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
SIA elects 2020 leadership The Semiconductor Industry Association (SIA) Board of Directors has elected ON Semiconductor CEO Keith Jackson as its 2020 Chair and Qorvo CEO Robert Bruggeworth as its 2020 Vice Chair.
Si wafer shipments recede for fourth straight quarter Worldwide silicon wafer area shipments slid for the fourth consecutive quarter of 2019, according to the SEMI Silicon Manufacturers Group (SMG) in its most recent quarterly analysis of the industry.
Decline in Q4 DRAM contract prices lessens as buying momentum recovers According to the latest analysis from the DRAMeXchange research division of TrendForce, Q4 DRAM ASP is as of yet undergoing a slight QoQ decline, but this decline has shrunk down to 5%.
Technica forms growth-focused equity fund San Jose-based Technica USA has reached an agreement on an equity investment centered on future growth for the global PCB fab and assembly supplier.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
IHS Markit: 5G economy in the trillions by 2035 The IHS Markit 5G Economy Study, commissioned by Qualcomm Technologies Inc., is forecasting that 5G will generate USD 13.2 trillion in sales enablement by 2035.
ZEUS Battery partnering with Kruvand Associates ZEUS Battery Products and Texas-based Kruvand Associates Inc. have come to a formal agreement on a collaboration that began in January and covers Texas, Arkansas, Oklahoma, Louisiana, New Mexico, Arizona and Mexico.
EPP with a new owner The company announces that is has found itself an ideal buyer – Photonics Systems Group – a manufacturer of micro-materials processing machines. With this takeover, PSG is strengthening is operations in the electronics industry and also laying the foundation for further growth.
Volkswagen starts pre-production e-mobility plant in China The new plant of the SAIC VOLKSWAGEN joint venture has been completed. It is purely built for the production of all electric vehicles on Volkswagen’s Modular Electric Drive Matrix (MEB).
Sponsored content by Nordson ASYMTEKStart-to-finish conformal coating with reliability and efficiency Nordson ASYMTEK’s flexible, modular, Panorama™ S-Line delivers conformal coating process control in a space-saving footprint with overlapping line processes that minimize manufacturing floor space. This innovative, patent-pending line layout trims 50% of the line’s length by using the lower compartment in each piece of equipment for functional use. Combined with Nordson ASYMTEK’s global support, this complete conformal coating line delivers quality, product reliability, efficiency, and safety for all your conformal coating applications.
Kongsberg Maritime divests KM Contros GmbH Following a strategic review, Kongsberg Maritime AS (KM) has decided to divest KM Contros GmbH (Contros) to AML Oceanographic Ltd. (AML).
SUSS MicroTec adjusts outlook for fiscal year 2019 Based on the preliminary figures for the first nine months and the updated budget figures, SUSS MicroTec is substantiating its expectations for incoming orders, sales and earnings for the current fiscal year ending December 31, 2019.
GPV's revenues soars 130% Danish EMS provider, GPV Group, announces that the company generated revenues of DKK 2.2 billion in the first nine months of 2019, a 130% year-on-year improvement driven by the acquisition of Swiss company CCS at the end of 2018.
Former GM plant now Lordstown Motors Corp. General Motors’ shuttered Lordstown plant in Ohio, which closed in March, is now in the hands of an electric truck start-up that is looking to begin production in about a year.
Chinese chip maker to U.S. firms: don’t worry On Friday, the chairman of China’s top state-run semiconductor company, Tsinghua Unigroup, had some advice for U.S. chipmakers, saying they should “relax and sleep well,” with regard to China’s semiconductor development.
POET closes the sale of DenseLight POET Technologies, the designer and developer of the POET Optical Interposer and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, has successfully closed the sale of its DenseLight subsidiary in Singapore.
HAHN Group expands its footprint in the US via acquisition Factory automation and robotics solution provider, Hahn Group, has acquired REI Automation, Inc. The takeover is effective as of 01. November 2019.
Sponsored content by NCAB Group Benelux B.V.Failure is not an option for a PCB More than 30% of the Gerbers NCAB Group Benelux B.V. reviews, have problems. However, the PCB are integrated in key end-user product with more and more High Tech PCB. We are here to support you on the new technologies growth to maintain a high reliability and quality. Contact us to review it together.
Ynvisible Interactive sells contract manufacturing services to Epishine Epishine is purchasing roll-to-roll manufacturing services from Ynvisible Production, combines solar cells with printed electronic displays.
QEV Technologies gets € 17 million from EIB The E-mobility and R&D specialist, QEV Technologies, will receive EUR 17 million funding from the European Investment Bank (EIB) for a variety of low carbon transportation projects.
Mouser pushing distribution to new (vertical) levels Mouser Electronics, global NPI distributor of semiconductors and electronic components, has expanded its multi-dimensional footprint at its distribution headquarters in Texas.
Micron buys FWDNXT, launches AI platform With its recent acquisition of hardware and software start-up FWDNXT, Micron Technology Inc. has launched a new set of tools for deep learning.Load more news