COMPUMEDICS LIMITED
Unique Technology Positions Compumedics Well
CMP - Compumedics Joins Germany's High Class Elite - Mr David Lawson (CFO), Mr David Burton (Chairman) and Mr Christoph Witte (Managing Director)
Fri, 25 Jul 2008 11:00AM
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Mr David Burton, Mr David Lawson, Mr Christoph Witte
Fri, 25 Jul 2008
11:00AM Australia/NSW
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COMPUMEDICS LIMITED (CMP)
ASX code: CMP
Website: http://www.compumedics.com/
Industry: Health Care Equipment & Services
Principal Activities:
Development and commercialisation of technology in computer based patient monitoring and diagnostic systems.
Address:
30-40 Flockhart Street
ABBOTSFORD
VIC
Phone: 61 3 8420 7300
Fax: 61 3 8420 7399
Executives & Directors
Mr David Burton , Chairman
Mr Alan Anderson , Non Exec. Director
Prof. Graham Mitchell , Non Exec. Director
Mr David Lawson , CFO
Dr Kerry Hubick , General Counsel
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Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
COMPUMEDICS LIMITED (CMP) Events
Australia/NSW
COMPUMEDICS LIMITED (CMP)
| Notice of Annual General Meeting/Proxy Form | Mon, 27 Oct 2008 |
| Full Year Statutory Accounts | Wed, 1 Oct 2008 |
| Full Year Statutory Accounts - Financial section | Wed, 1 Oct 2008 |
| Record revenues, improving profits and operating cash | Mon, 1 Sep 2008 |
| Change of Director`s Interest Notice | Fri, 1 Aug 2008 |
| Sale of shares by by Chairman partly to Medigas Italia SrL | Fri, 1 Aug 2008 |
| Strategic Investor in Compumedics | Tue, 29 Jul 2008 |
| Compumedics DWL wins prestigious German innovation award | Fri, 25 Jul 2008 |
| Compumedics Joins Germany`s High-Tech Elite | Mon, 14 Jul 2008 |
| Change of Director`s Interest Notice | Wed, 9 Jul 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH DAVID LAWSON, CHIEF FINANCIAL OFFICER; DAVID BURTON, CHAIRMAN; AND CHRISTOPH WITTE, MANAGING DIRECTOR OF COMPUMEDICS LIMITED (CMP)
“Unique Technology Positions Compumedics Well”
http://www.brr.com.au/event/47962
FRIDAY, JULY 25, 2008, 11:00 AM.
BRR Hello and welcome to Boardroom Radio. Thank you to Mr. Burton for joining
10 us today, to both Christoph Witte, Managing Director of DWL Compumedics Germany GmbH, and to Mr. David Lawson, Chief Financial Officer of Compumedics.
CMP Thank you, Cale.
15 BRR David, we know just recently Compumedics Germany DWL got Top 100 Innovation Award. Can you explain to us what the award was for?
CMP It is best that Christophe answer this question as he joins us online from Germany where he, of course, heads the Compumedics DWL Division. This project, and this award of course, was primarily driven by his excellent team.
20 So over to you, please, Christophe.
CMP Thanks, David. The Top 100 Award was for the successful and well-implemented innovation management in DWL Compumedics Germany. The award was presented to the 100 most innovative small- and medium-sized enterprises in Germany. This actually reflects the innovative approach of the
25 company when everybody is seeking for new technologies to make examination safer and consequently save more lives, particularly in the fields of stroke diagnostics and treatment.
BRR This is a great accolade, Christoph. Perhaps yourself or David can explain
30 where the major opportunities for the DWL Compumedics Germany business are.
CMP Well, DWL is releasing a new range of vascular diagnostic products including the capability to diagnose widely prevalent vascular disorders such as deep vein thrombosis, known as DVT, and stroke diagnostic and treatment. We
35 recently released an innovative new plethysmograph. By developing a patented electromechanical spring-gauge sensor and integrating it into a progressive device, it allows us state-of-the-art plethysmographic assessment of microcirculation. This is a very user friendly device. There is a touch-screen and the automatic analysis of the measured vascular values. DVT, in
40 particular, is a new and very promising field. The worldwide market price is around 20 to 30 million euros. Also, the automatic stroke diagnostics and treatment product is a very, very exciting challenge as stroke is the second greatest cause of death worldwide. Fifteen million people suffer from stroke each year, leading to 5 million deaths and 5 million people are left
45 permanently disabled. In the US alone, someone dies of stroke every three minutes. DWL Compumedics has the extraordinary sum of 63 years of experience in research and development for the world's leading stroke diagnostic technology which really qualifies the Company for developing an automatic stroke diagnostic and treatment device which is based on the Company's current technology.
BRR So why is DWL Compumedics Germany best able to commercialise these
5 opportunities?
CMP Well, specifically, Cale, as it relates to stroke diagnosis and treatment, the DWL team have been working with technological leaders in the field of ultrasonic stroke monitoring treatment for many years and have a number of key world leaders all ready to publish and develop the ground technology in
10 the strict stroke area of development. So simply stated, we are now expanding on this area for a new diagnostic stroke treatment using this ultrasonic technique and the idea is to find the occluded blood vessels resulting from stroke conditions and then to recanalise the vessels that otherwise could lead to catastrophic stroke outcomes. As we mentioned, that
15 can be either death or disability. DWL is in the process of discussing the opportunity with a number of large companies and strategic partners and investors who have shown interest in the past. Naturally, these include the organisations that are already well entrenched in ultrasonic equipment who would undoubtedly be interested in the possibility of working with the world's
20 best company, DWL, in terms of ultrasonic Doppler flow measurement system and now treatment for the stroke. The stroke opportunity represents a market of some hundred times bigger than DWL's existing TCD market. So it is very important to the Company as a whole.
25 BRR Now stroke diagnosis and treatment certainly sounds like a significant commercial opportunity for the DWL Compumedics Germany business. Can you explain a bit more about the commercial opportunity the business is looking to develop?
CMP Yes. Stroke is a condition of abnormal blood flow in the brain and that can
30 result in debilitating effects of death. In particular, stroke can either be of a bleeding cause, referred to as hemogenic stroke, and that occurs in 20% of the cases, or alternatively blocked vessels, referred to as ischemic stroke, relevant in about 80% of the cases. The economic cost of stroke is enormous. Recent estimates in the United States alone include a direct cost of medical
35 treatment and therapy to be $28 billion and economic costs to be $43 billion. So worldwide, the cost can be proportionately greater. Despite the high prevalence of stroke and the severe consequences, there are no reliably effective treatments to date for stroke and no quick and easy diagnostic technique for locating the region of the abnormal blood flow causing stroke
40 symptoms. This is where DWL comes in. It is a world leader. This innovation award that we are aware of that Christoph and his team have won in the recent week is (inaudible) (0:06:06) that this is the best. The world’s best and most innovative blood flow equipment in the world. The team has developed systems that actually travelled in the original Mir space station, so you can
45 imagine how far they go back and they have won and earned this prominent position. So applying these skills in the area of blood flows is not unusual. It is not new. The fact is they now have patent stroke treatment and they have the best GP and medical back-up up to date in the world in experience terms behind this new stroke treatment, just basically come together and converge for a terrific opportunity. The diagnosis generally comprises of observations and the proper ability to perform tasks. Now with our combined diagnostic skills and the use of this treatment showing to be safe and using the focus on the occluded blood vessel and the technology of the ultrasonic Doppler which
5 is the (inaudible) (0:07:07) of DWL, we will grow this project together for obvious reasons. Ultrasonography is a well-established technique and TCD ultrasonography is known to the growing portion of the medical practitioners as having the potential for diagnosis among stroke patients. I am not sure if all our listeners are aware, but actually not only we are, this company DWL
10 which of course we have acquired and work with now, known for the origination of projects such as the Space Station in the first development, but they also work with people like Dr. Rune Aaslid who is the originator of the development of transcranial Doppler. So we have got a team here, we have a support group and we have a track record which is second to none by a long
15 shot, that is why we have taken on such a relatively ambitious but certainly achievable project. The medical literature is showing increasing number of papers using ultrasonography in stroke. This was confirmed even as has risen in the last month in the sonothrombolysis conference in Germany which included attendees from around the world. There is enough interest in
20 ultrasound and stroke to have coined the term sonothrombolysis which is the use of ultrasound in stroke treatment and diagnosis. Compumedics recognize the large potential for devices of this nature that could both diagnose and potentially provide stroke treatment. A completely new device is not required. It is the core technology of the group. Our market opportunity exists to
25 developing the current DWL device to operate on a semi-automatic or automatic manner to find regions of interest in the brain that display blood flow characteristic to stroke and then simply ultrasonically recanalise the vessels until the blood flow characteristic becomes normal. Now we say simply, but of course, being a medical treatment device, this means studies
30 and a great deal of work that we conduct in this project. Subsequently, we are looking to align ourselves also with a top tier commercialisation partner.
BRR You have spoken about there being significant market for these products. Perhaps, Christoph, you could tell us what the estimated markets for DVT
35 and stroke treatment are?
CMP As they have already spoken about stroke treatment, I will confine this answer to the vascular diagnostic system, the plethysmograph. We have three major applications. First one is for arterial diseases like arterial occlusion. Second one is microcirculatory disorders like diabetes. Third one is
40 venous diseases like DVT. DVT, the deep vein thrombosis, which is also known as the economy class syndrome, is the formation of a blood clot, the so-called thrombus, in a deep vein. It commonly affects the leg veins, but occasionally, the veins of the arms are also affected. There is a significant risk of thrombus embolising and travelling to the lungs causing there a
45 pulmonary embolism. Possible application might be a pre-flight screening for at risk patients to set up a prevention strategy which consists of adequate hydration, moving around of the traveller and taking aspirin for mild anticoagulant, or for severe risks, inject heparin and wearing compression socks.
BBR Christoph, what is required to exploit these opportunities?
CMP What is needed is a device that assists and operates in the diagnosis and eventually treatment using ultrasound device. Current models of TCD
5 ultrasonography products are not user friendly. There are development programs to be undertaken by the DWL team through Compumedics Medical Innovations Division which has the objective of upgrading the current DWL TCD product to include the automatic functionality. Compumedics Medical Innovation, which is the wholly owned subsidiary of Compumedics Limited,
10 has also entered into a licensing agreement with UK National Health Service through the Scottish Health Licensing Limited to exploit Dr. (inaudible) (0:11:36) invention.
BRR Christoph, does Compumedics have patents over the technology it already
15 has?
CMP Yes, Compumedics has in-license patents of its own applications. Two in-license applications serve for the method of stroke diagnosis using ultrasound, and technically, for treatment using ultrasound has been granted in Australia and the US. (Inaudible) (0:12:00) should follow shortly. The
20 application for an automatic stroke diagnosis and treatment has received very positive examination and it is expected to be granted in major markets in due course.
BRR Just quickly, does the intellectual property include patents as well?
25 CMP The patent application for both the same technique and the device automatically carrying out the technique has been filed internationally. Two patents have been granted in Australia to date from the same application. Another same patent application has been filed for further development in this technique. Compumedics Medical Innovation has its own patent application
30 for device, five in nine countries.
BRR Okay, so we will just come back to you now, David. Is the technology itself unique?
CMP Certainly. One of the key reasons we focus on this project, and we are in a
35 position to able to invite discussions with strategic alliance partners, is that we have a strong founding ultrasonic Doppler-type portfolio which is unique in itself and now we have a folio of additional type which is focused specifically on this ultrasonic recanalisation. The techniques that we use including the small vessel (inaudible) (0:13:16) are unique and very special. We also have
40 hardware-based patents and software enabling the embodiment or implementation of these systems. We believe we have a solid, sound position from which, of course, we can now continue development in a premium development manner.
45 BRR Perhaps just finally, Christoph, when will the equipment be ready to market and what is the lead time?
CMP Well, the initial software solution which is the semi-automatic device will be available for sale by 2010 and the full automatic device system should be released and ready for sale by 2011.
BRR David Burton, Christoph Witte and David Lawson, thank you very much for taking the time to speak with Boardroom Radio.
CMP Thank you. It was a pleasure to be with you, guys.
5 CMP Thank you. It was my pleasure.
BRR That was Mr. David Burton, Managing Director of Compumedics. Also with us today were Mr. Christoph Witte, Managing Director of DWL Compumedics Germany GmbH, and finally, Mr. David Lawson, Chief Financial Officer of
10 Compumedics. Remember, if you have any questions about this or any other broadcasts you hear on Boardroom Radio, send us an e-mail, and brr@brr.com.au is the address. I am Cale McCulloch. Thanks for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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