cgp eyes $120b drug market with vibrovein

Consegna Group eyes $120b injectable drug market after VibroveinTM proof of concept

Friday, October 28, 2011 by John Phillips
Consegna Group (ASX: HCG), (formally Helicon Group), has delivered a milestone for the company's VibroveinTM Technology, by demonstrating a proof of concept.

The impact from Vibrovein being able to produce up to a 60% reduction in the force required to cause a hypodermic needle to penetrate a membrane of human skin has the potential to deliver some significant licensing and patent opportunities.

To highlight the potential of the product, the injectable drug market is worth around $120 billion.

There are multiple transaction opportunities for Consegna, with initial targets including the $11.2 billion generic injectables market, the 1.4 billion unit p.a. blood collection market, and the $44 million sclerotherapy market - in the U.S. alone.

A series of independent tests designed to quantitatively confirm proof-of-concept was conducted at Invetech Pty Ltd (a member of the Fortune 250 listed Danaher Group).
Fabio Pannuti, chief executive officer, commented on the on the positive test results.

“From the ongoing clinical experience gained with the Vibrovein system we have always believed that it results in a substantial reduction of the force required to cause a hypodermic needle to penetrate the skin in medical procedures; we now have now clear quantitative data to confirm the clinical observations.

“The data from the Invetech study is consistent with earlier penetration forces studies conducted in the UK and provides Consegna with important information to assist the company in its licensing efforts and is the subject of a patent filing."

The next step for the company will be a further series of tests to correlate this important characteristic with a reduction in the pain produced during hypodermic-based procedures.

VibroveinTM
Vibrovein is a small vibrating device that attaches to the barrel of any syringe to reduce penetration resistance and thereby reduce pain and tissue distortion and increase needle efficiency and patient comfort.

Consegna said that it is expected that Vibrovein will find use in a wide variety of applications including paediatric vaccinations, blood-banking, insulin injections, cosmetic procedures and wherever a more comfortable patient experience is desired.

http://www.proactiveinvestors.com.au/companies/news/21317/consegna-group-eyes-120b-injectable-drug-market-after-vibroveintm-proof-of-concept-21317.html