Win puts Lower Hutt company on US fast-track

A company making ready-to-use tissue substitute for wound care and soft tissue reconstruction has won New Zealand Trade and Enterprise’s inaugural Focus on Health business competition, Minister for Economic Development Gerry Brownlee announced today.

Lower Hutt-based Mesynthes’ product Endoform Infection Control is on the fast track into the United States health market as a result of the win, receiving cash and in-kind prizes worth nearly $100,000.

An international panel of judges for the Focus on Health Challenge decided Mesynthes had the clearest vision and business strategy for growth in the United States market, and the potential to deliver the highest reward.

The award was presented to Mesynthes by Associate Health Minister Dr Jonathan Coleman during a ceremony at the Auckland War Memorial Museum yesterday evening.

Mesynthes has already achieved 510(k) approval from the United States Food and Drug Administration (FDA) for its Endoform product, and has a clear pipeline of other products to be developed and brought to market.

Mesynthes’ Endoform Infection Control is designed to be used where there is a high risk of post-operative infection at a surgical site, for structural repair during reconstructive plastic surgery and for the prevention and treatment of infection in chronic wounds.

Two other companies received runners up prizes in the competition, Emendo for its CapPlan capacity and operational management software solution, and Matakina for its Volpara Quantitative Breast Screening solution. The companies will share a cash and in-kind prize package worth $110,000.

Mr Brownlee says all three companies exemplify the high level of innovation emerging from New Zealand.

“New Zealand is a perfect incubator for innovative healthcare technologies that have the potential to provide significant health benefits for millions of people around the world.

“If we are to successfully lift our overall economic performance, we need more companies like Mesynthes, Emendo, Matakina and the other challenge finalists developing products and services that address global needs.

“The multi billion dollar United States health market is a huge opportunity for New Zealand and I congratulate the winners and others involved with New Zealand Trade and Enterprise’s Focus on Health Challenge.

“I look forward to seeing the companies involved become multi-million dollar success stories.”

About the Focus on Health Challenge

New Zealand's healthcare industry has some of the most innovative and commercially successful health products and services in the world.

New Zealand Trade and Enterprise’s Focus on Health business development challenge has been developed to help New Zealand companies and entrepreneurs maximise commercial opportunities in the US health market, and is designed to stimulate new product development, innovation, commercialisation and collaboration within New Zealand’s healthcare industry. It gives participants the chance to be connected to a network of influential health and business professionals in the US and New Zealand, including investors, partners and buyers.

Over the last six months nine finalists ranging from software solutions to medical devices and wound care therapies have participated in a comprehensive ‘market readiness’ programme that included expert mentoring, a workshop with a US-based entrepreneur and angel investment expert, a range of professional services, and a roadshow in the US in May 2010 where finalists met with the likes of Kaiser Permanente and Harvard Medical School.

The challenge has the support of strategic partner, the Ministry of Health; major sponsors: the Health Research Council of New Zealand, Edwards Lifesciences, Microsoft, and Southern Cross Healthcare; and 30 other sponsors and partners that together have contributed more than $800,000 worth of cash and in-kind prizes.

For more information on the challenge, winners and prize sponsors visit: www.nzfocusonhealth.com

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