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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - MOsteoDD (PLATFORM FOR THE FRONTLINE OF OSTEOPOROSIS PREVENTION)

Teaser

The main objective of the action done was to allocate all necessary data and resources to take the next strategic decision in order to prepare for introduction of PLATFORM FOR THE FRONTLINE OF OSTEOPOROSIS PREVENTION.

Summary

Work performed

Our detailed feasibility study covered a number of task:
T1.1 User requirements: We have Identified process constraints, assess requirements of target market segments according to final user needs.
T1.2 Technical gap analysis: We have compared current state of technology to user requirements and identified the key features that need enhancing in order to meet market demand.
T1.3 Find partners: we have established contacts with partners interested in pilot testing as potential lead users, as well as commercial distribution partners in other markets.

T2.1 Market survey and analysis: our initial market research was expanded via desktop research and access to market research reports and potential end-users to include additional items such as market forces, competition strengths and weaknesses, current offers and pricing strategies.
T2.2 End-user studies: we have conducted interviews to estimate market penetration. We have interacted with our target clients to get their feedback regarding preferences, willingness to pay and product acceptance.
T2.3 Certification study, IPR observatory and protection strategy: We have assessed certification ((e.g. certification of the platform in accordance with the requirements of Directive 93/42 / EEC + 2007/47 / EC and related) and legal aspects.

T3 Based on the results of tasks 1 and 2, the initial business has been updated to include a detailed marketing/dissemination and commercialization plan, a market research and a financial plan that will result in the maximum permissible resources to bring the product into the market considering all costs involved in the project and the project profitability.

Final results

Phase 1 execution proved that our innovative project is feasible and has a great commercial value. Having determined the technological and commercial feasibility of the objectives studied in phase 1, we developed a plan to reach these objectives for phase 2 to mature our solution to TRL9 route to market. Our objective is to offer an innovative device and platform and mobile app to screen for osteoporosis. Our target group are doctors, mainly general practitioners and internal medicine specialists, but also other specializations, like gynaecologists, orthopedists and geriatricians. Our device fills a gap in the diagnostic procedure by providing a fast, objective and cheap screening solution without the need for a DXA scan referral. By using our device doctors get results more reliable than those obtained by conducting an extended interview and patients get information about state of their health without the need to wait for the visit. Osteoporosis causes more than 8.9 million fractures annually worldwide and over one-third of all osteoporotic fractures occur in Europe.