It was a successful 2019 for Surge-on Medical, as we overcame the equity crowdfunding barrier at Aescuvest.eu, a great way to end the preceding year.
In 2020, the world is facing an unprecedented challenge, but the overall effect on Surge-on Medical’s business activities has been relatively minor. In this update, I will share some of the milestones we have reached and give an insight into what we are planning for the coming months.
Benno Groosman, MScBA (CEO, Surge-on Medical B.V.)
CE and Manufacturing: Ready to Scale
We are finalizing the CE certification of the Steerable Punch, a Class I medical device we are expecting to register by the end of April, as we now have all the necessary documentation ready. This effectively means that from the moment of registration, our Steerable Punch will be made available with a CE mark.
During this process, which is managed by our COO Audry Kaune, we have received great support from specialized consultants and our manufacturers in Germany and the Netherlands. The very next step after registering the Steerable Punch will be to start the commercial production of the first batch of this innovative instrument. We will be happy to give you an update in due course.
Product Roadmap and Patents: Disrupting Minimally Invasive Surgery
Surge-on Medical B.V. owns the exclusive rights to four different patents on the steerability, detachability, and cleanability of our highly innovative inventions for minimally invasive surgery. In the past months, more countries have granted these patents, making our intellectual property rights even stronger.
With the Steerable Punch for arthroscopy and the Steerable Grasper for laparoscopy as the first two products, we have now fine-tuned our product roadmap for the next generation of instruments for arthroscopy. This product roadmap is the result of our study on a new instrument’s technical feasibility, market value, and the needs it would address. We have thoroughly researched five main fields of the surgical applications of arthroscopy, and ended up with dozens of instruments that could be disrupted by Surge-on Medical’s platform technology. We will publish a more detailed overview of this research soon.
Team Expansion and Business Development: Building the Foundation for Growth
This year, we welcomed another mechanical engineer, who has been especially supportive in the above-mentioned activities, to our team. After completing the CE certification, he will remain with us to continue working on our next generation of products.
Although technological innovation is Surge-on Medical’s foundation, we are now particularly investing in and planning for business development activities (e.g., international partnering, sales and marketing, and demonstrations). Once the COVID-19-induced restrictions on travel and gatherings are lifted, we will have an experienced business developer joining our team immediately. In the meantime, we are not just waiting quietly for that moment to happen: before summer comes around, we are expecting to deliver immersive online content that will help our clients to assess the advantages of the Steerable Punch and place pre-orders online, all to cover for this period where offline sales processes have become more difficult.
COVID-19 and Business: Boost to Creativity and Social Responsibility
In the past month, the Surge-on Medical team has been working from their home offices. With daily team updates and a full range of online collaboration tools, our business productivity has not declined. On the contrary, we have seen some creative initiatives from our team that we will also benefit from after this period. Lastly, our CTO Tim Horeman has joined an initiative to develop new sterilization methods for the reusability of face masks (as the worldwide supply of new masks has been insufficient). This method is now recommended by the relevant Dutch authorities: you can read more about this social responsibility initiative here.
Stay in Touch! Feel free to reach out if you have any questions or ideas. In addition, please note that Surge-on Medical’s equity crowdfunding campaign is open for a few more weeks for your (extra) investment!
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