Early of this week, we have launched the Deep Tech Heroes S1E1: Revolutionizing Medicine with Living Microtissues.
👉Read more: https://yellowblocks.org/deep-tech-heroes-s1e1-revolutioni…/
To continue and spread out that spirit, this one-minute bite size sheds light on the future of medical technology.
The future of medical technology
Medicine is one of the world’s oldest industries and major advances in medicine usually reflect humanity’s progress milestones. Today, all of these milestones would fall within medical technology (“Medtech”), referring to the sector set to improve the quality of healthcare. Recent applications of medtech have focused on cost reduction, medical devices, information technology, biotech, and healthcare services.
In the years from 2010-2015, recent tech like the internet has contributed to a 200% growth in venture funding, allowing US$11.7 billion to flow into health tech businesses from over 30,000 investors in the space.
As specializations become narrower and more specific, Medtech has been subdivided into major sections. Two major areas of interest are biotechnology (“Biotech”), which uses biological organisms to make advancements, and pharmaceuticals, which uses chemical sources to create drugs.
Biotech v. Pharmaceuticals
Pharmaceuticals refers to the research and development of synthetic materials critical to the discovery of new drugs and therapies. Some modern pharmaceutical companies have long histories going back hundreds of years, such as Bayer AG, the German company whose founder trademarked aspirin in 1899.
As of 2019, the world’s top pharmaceutical companies were Johnson & Johnson ($397.390 billion market cap maximum in 2018) and Novartis ($198 billion market cap in 2018).
On the other hand, biotech is a field that uses living organisms (not synthetics) to make advancements and products. This area has broader applications than pharmaceuticals as it is used in food science, agriculture-based industries, bioengineering, genetic research, and of course many areas of medicine.
Biotechnology has become one of the largest industrial sectors in terms of market value and hundreds of biotech companies have emerged in the US within the last decade.
Most of the leading biotech companies fall within “biopharma.” Biopharma is actually a subset of pharmaceuticals but it differs in that it produces drugs by biological methods. Pharmaceutical drugs cover biological means as well as chemical synthesis.
👉Read more: https://online.husson.edu/biotech-and-biopharma/
However, despite the confusing subsections, we all know biopharma. It was the first kind of pharmaceutical development and it brought humanity things like vaccines, hormones, blood products, and of course, antibiotics.
Some of the leading biopharma companies include:
– Amgen: $122.665 billion
– Gilead Sciences: $92.379 billion
– Novo Nordisk: $81.397 billion
– Biogen: $61.479 billion
– CSL: $60.270 billion
Combining sectors: Stemonix
Let’s bring these together. We recently sat down with Mr. Bob Petcavich, the Chief Science Officer and Co-founder of StemoniX, to discuss his inspirational journey as a startup entrepreneur, the challenges he’s faced and tips keys to success, and the importance of building the right ecosystem.
Stemonix is an American deep tech startup that creates living human brain and heart microtissues called MicroOrgans. The company is on course to revolutionize the speed of drug development, save countless lives, and eliminate the need for drug testing on humans and animals.
👉Check out our interview: https://youtu.be/eEtHM40-x4k
👉Read more about StemoniX and Bob Petcavich: https://yellowblocks.org/deep-tech-heroes-s1e1-revolutionizing-medicine-with-living-microtissues/
Currently, StemoniX has partnerships with major government agencies, world-renowned universities, and half of the world’s top 30 pharmaceutical companies. StemoniX is looking to expand their ecosystem with “technical savvy” partners who can integrate with StemoniX platform to create opportunities and drugs for the future.
Linking partners is what we do at YellowBlocks: we connect the connectors. We are Vietnam’s leading ecosystem superconnector that represents the value of the Vietnamese market to connect global thought leaders like Mr. Petcavich to local startups and entrepreneurs.
YellowBlocks is committed to connecting Vietnam to the world of deep tech. Vietnam has had 30 years of astronomical growth, by embracing the future of tech we can continue our momentum.
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Established in 2018, YellowBlocks is the first emerging tech ecosystem connector and consulting firm for Vietnam and the world. We have more than 100 partners and 80 advisors globally, with an extended reach of 100,000+ audience in the tech/ startup space.