YDC Best Business Idea Award
PhoMedics Limited is a medical technology start-up that aims to revolutionize the way that cancer cells are being detected during cancer surgery. 60 % of all cancer patients are required to undergo cancer resection surgery. However, the lack of an efficient tool to detect residual tumours during operation has led to over 20% re-surgery rate (e.g., second excision).
PhoMedics has recently developed the CHAMP Microscope (our patented technology) ― a fast, accurate, and intraoperative device cut the testing time from 30 to 3 minutes and improves accuracy from 65% to 95%. CHAMP is expected to prevent more than 4000 second surgeries each year, benefiting both patients, hospitals, and society. Our CHAMP hardware alongside our virtual staining software is expected to seamlessly revolutionize the current clinical workflow with minimal training required for medical professions.
Our executing team consists of six members with a diverse background, and we complement each other very well. There is also a team of specialized researchers in our laboratory at HKUST backing us up in our work.
We would like to first beachhead the Hong Kong market and later develop the mainland China’s market. The problem associated with the frozen section is recognized worldwide. We would like to start local and aim for the global market later. We expect our customers to pay an upfront cost for the hardware and a subscription fee for our virtual staining software.
In brief, we have obtained the US provisional patent for CHAMP technology and started our lab-based clinical trial in collaboration with Queen Mary Hospital. We are proactively seeking financial support from competitions, incubation programs (e.g., IncuBio by HKSTP), and seed funding investors. PhoMedics is eager to see CHAMP on the market, saving the lives of many people.
We are PhoMedics, and we are imaging for life.
For more information, please visit PhoMedics Website: https://www.phomedics.co/