Rising to the Challenge: Tough Competition Drives Innovation at 2024 MedTech Startup Pitch 

As the centerpiece of MedTech Malta 2024, the MedTech Startup Pitch Competition, powered by Malta Enterprise, captured the attention of the global MedTech community. This thrilling competition, which brought together 10 from over 100 innovative startups, was a true showcase of the disruptive technologies and groundbreaking solutions emerging in the healthcare sector. The energy in the room was palpable as the finalists pitched their game-changing ideas to a panel of esteemed industry leaders, each vying for one of the coveted three prizes.

The startups were judged on four key criteria: product/technology, the founder and team, the market opportunity, and the revenue model.

The panel of esteemed judges who selected the winner included some of the biggest names in MedTech and healthcare investment: Andreas Wüpper, Managing Director, Fresenius Medical Care Ventures GmbH; Melanie Debattista, Head FDI: Digital Innovation, Malta Enterprise; Hirak Parikh, Principal, Venture Investments, JJDC, Johnson and Johnson; Jotthe Kannappan, Senior Associate, Intuitive Ventures; Soyoung Park, General Partner, 1004 Venture Partners; Joshua Phillips, Co-Founder and Managing Partner, Catalyst Health Ventures; Todd Schwarzinger, Partner, Cleveland Clinic Ventures; Sascha Berger, Investment Director, NEOM Biotech; and Miguel Borg, CEO, Malta Venture Capital.

The Finalists

The competition featured an impressive lineup of startups, each with a unique approach to addressing the challenges faced by the healthcare sector. Here’s a closer look at some of the finalists that made it to the stage:

Occutrack Medical by Mark Wong

Occutrack is revolutionizing the way we monitor and manage age-related macular degeneration (AMD), a leading cause of vision loss. With over 300 million people affected globally, AMD presents a significant healthcare challenge. Occutrack’s AI-based solution allows patients to monitor their condition from the comfort of their home, using a laptop camera to track eye movements and detect changes in the visual field. This home-based monitoring system is supported by over 30 doctors and two completed clinical trials, making it a promising breakthrough in telemedicine. Occutrack is on track to change the lives of millions, offering a more sustainable and accessible solution to managing chronic eye conditions.

Arspectra by Cédric Spaas 

Breast cancer surgery can be a life-saving procedure, but it often carries risks such as repeat surgeries and recurrence. Arspectra is at the forefront of augmented reality (AR) technology, offering a solution that enhances the accuracy of breast cancer surgeries. Their AR glasses provide real-time, fluorescence-guided imagery that enables surgeons to view target areas directly through the skin. This innovation promises to reduce surgical risks, improve patient outcomes, and lower healthcare costs. With over 10 patent families and a team of 30+ experts, Arspectra is already scaling in the U.S. and competing with industry giants like Microsoft HoloLens and Magic Leap.

Orthonika Limited by Maria Kristina Bartolo

For patients suffering from meniscus injuries, the lack of an approved synthetic replacement has left a significant gap in treatment options. Orthonika is changing this by developing a Total Meniscus Replacement (TMR) that mimics the natural meniscus and offers a synthetic alternative for those unable to undergo traditional surgery. With a market opportunity valued at $1.6 billion, Orthonika’s TMR solution promises to reduce pain, delay osteoarthritis, and restore function, offering a lifeline to millions of patients worldwide. The company is already raising funds to complete preclinical work and move toward human trials in 2024.

Magsorbeo by Jake Edick

Magsorbeo is addressing the limitations of traditional titanium orthopedic implants with an innovative, absorbable magnesium alloy that is just as strong as titanium but can be safely absorbed by the body. This technology has the potential to transform the orthopedic implant market, allowing for more effective and less invasive treatments. With plans to expand into the U.S. market and secure $3 million in seed funding, Magsorbeo wants to change the way orthopedic care is delivered.

Bairitone Health by Meagan Pitcher

Sleep apnea is a condition affecting hundreds of millions worldwide, with many patients unaware they suffer from it until significant health complications arise. Bairitone Health is tackling this issue head-on with a non-invasive, home-based diagnostic tool that uses AI-powered sonar sensing to detect airway collapse during sleep. This affordable, at-home solution provides real-time data to doctors, allowing for better treatment planning and reduced reliance on costly surgical procedures. With promising preliminary results from Houston Methodist Hospital, Bairitone Health is on its way to disrupt the sleep apnea care market.

MDsim by Roger Assaker

MDsim is tackling the challenges of spinal surgery by leveraging digital twin technology, a concept commonly used in aerospace and automotive industries. By creating a personalized digital model of a patient’s spine, MDsim allows surgeons to plan procedures with unprecedented precision. With a $3 billion market opportunity and a team of 11 PhDs in AI, biomechanics, and engineering, MDsim aims to contribute its bit in spine surgery by enhancing outcomes and reducing the risk of failure.

The Shape Sensing Company by Ryan DeBoer

Minimally invasive procedures are a boon to healthcare, but traditional X-ray guidance presents risks such as radiation exposure and longer procedure times. The Shape Sensing Company is developing a next-generation 3D guidance platform that uses fiber optic shape-sensing technology to provide real-time, three-dimensional visualization of medical devices within the body. This innovation promises to improve the accuracy and safety of minimally invasive procedures, offering a safer, more efficient alternative to X-ray imaging.

Berlin Heals Holding AG by John Brumfield

Berlin Heals is addressing the global heart failure pandemic with an innovative technology designed to reduce or even reverse heart failure. Its C-MIC platform uses a defibrillator-like lead and a patch to generate a microcurrent between the heart’s right and left ventricles, promoting healing and improving heart function. Clinical trials have shown remarkable results, with patients experiencing significant improvements in heart function and quality of life. Berlin Heals is on track to transform heart failure treatment and provide a much-needed solution for millions of patients worldwide.

Swift Sync, Inc. by Christian Marin Y Kall

Swift Sync is addressing a critical issue in heart surgery recovery: complications associated with pacing wires. Their patented technology offers a single pacing catheter capable of both sequential pacing and synchrony, providing greater stability and reducing the risk of complications. With a large market opportunity and plans for a 2025 launch, Swift Sync aims to make waves in the field of heart surgery.

Incura by Wesam Sarhan

Incura is an intellectual property (IP)-focused medical device company that aims to address gaps in innovation within the healthcare market. Their products, such as CurASeal, a hemostatic powder, are designed to solve existing limitations in medical devices. By licensing their products to manufacturers, Incura is building a portfolio of innovative solutions to meet the growing demand for medical advancements in regions like the MENA.

The Winner: Berlin Heals Holding AG

After an intense competition, Berlin Heals Holding AG emerged as the winner of the MedTech Startup Pitch Competition at MedTech Malta 2024. Its breakthrough C-MIC platform, designed to reverse heart failure, captivated the judges and secured them the prestigious trophy. With clinical trials demonstrating impressive results and a growing global demand for heart failure solutions, Berlin Heals is well-positioned to transform the future of cardiology.

The winning startup was awarded a comprehensive package designed to propel them to the next level in their entrepreneurial journey. It received a conference package for MedTech Malta 2025, ensuring it could continue to showcase its products and network with key players in the industry. Additionally, it was granted a full media package, amplifying its visibility and helping to attract potential partners, investors, and customers. The grand prize also included in-kind services from Formly AI, providing the startup with AI-powered software to aid in regulatory approval – a crucial step for any MedTech company looking to bring a product to market.

Looking Ahead: Pre-Register for MedTech Malta 2025

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