Nov 07, 2017
Maximizing the impact of the grand prize with mentorship insights
November 3, 2017
Los Gatos, CA – Boston-based Day Zero Diagnostics was awarded the top prize at the 2017 MedTech Innovator Global Competition on September 26, 2017. The competition was held at this year’s MedTech Conference, powered by AdvaMed in San Jose, CA. Ximedica worked closely with Day Zero Diagnostics, to advise them on maximizing the value they provide to the healthcare industry with their antibiotic resistance testing. Mentorship from Ximedica, including consultations on how to de-risk the program and implement a systems approach to product development, assisted them in their win.
Day Zero Diagnostics uses genome sequencing and machine learning to modernize infectious disease diagnosis and treatment. The company is working to enable faster treatment of infection to save lives and reduce costs by quickly diagnosing antibiotic resistance. Day Zero Diagnostics competed against nearly 600 other emerging companies to win the top prize of $350,000, which will be used to further their business goals.
Throughout the competition, Jong Lee, CEO of Day Zero Diagnostics, worked directly with senior leaders including Ryan Griswold (Director of Mechanical Engineering) and John Harris (Program Director) from Ximedica, a leading full-service medical device and diagnostics product development firm, . “We worked together to maximize value for their investors by identifying which activities were high risk and encouraging them to focus early development efforts there,” said Harris. “Ximedica excels at human factors research and reducing use errors through early testing. This is not only important from a regulatory perspective, but leads to a product that is reliable and intuitive to use by the intended user population.”
“Every substantial development project faces a gauntlet of product design, organizational, and system choices that need to be navigated. For an early stage company, those choices can be ‘make or break’ moments, with consequences that last longer than you imagine,” Jong Lee, CEO of Day Zero Diagnostics, said. “Ximedica understands that terrain, and their investment in us has helped our team be faster, smarter, and more decisive about our choices. Their commitment to working with an entrepreneurial company like us has been fantastic.”
Ximedica provides early stage guidance with a focus on scalability and implications of concept and design direction. By engaging early with companies like Day Zero, it provides premium development services and helps define the product realization path that minimizes costly technological pivots.
Ximedica is a full-service ISO 13485-certified and FDA-registered medical device and diagnostics product development firm. For 30 years Ximedica has provided a unique growth platform enabling organizations to successfully deploy medical technology products into the market. Its headquarters are in Providence, R.I., with offices in Hong Kong, Minneapolis, San Francisco and Los Gatos. In November of 2014, SV LifeSciences, a Boston-based private equity firm, acquired a majority stake in Ximedica, enabling the company to execute its growth strategy.
For more about Ximedica, visit www.ximedica.com.