Founded by Dr Bipin Patel, ElectronRx is a deep tech company working to develop novel diagnostic and therapeutic tools for the relief of human suffering. These include, among others, tools for the relief of heart failure and menstrual pain management. The fundamental purpose of ElectronRx is to create a new digital class of medicine tailored to the needs of patients which concomitantly offers healthcare professionals new medical insights through access to the high-quality data generated. A purpose which can otherwise be summarised as the creation of a digital pill.
The successful quest of ElectronRx began in 2017. At the time, Dr Bipin Patel – a medical engineer with 20 years of experience in the pharmaceutical sector – recognised two important trends. On one hand, small electronic implantable devices were becoming increasingly sophisticated. Simultaneously, the ability to analyse vast volumes of complex data was growing due to the advances in machine learning. While microelectronics could be used to clinically intervene, machine learning could be applied to deconstruct patterns from complex patient datasets. The combination of the two could therefore potentially exert a significant therapeutic effect. Indeed, this was the premise on which ElectronRx was established.
In the short time elapsed since its establishment, the company has developed multiple digital health products. This is in contrast to the majority of startups in the field which typically focus on the development of a single product. To fulfil its purpose of creating a new therapeutic regime, the team at ElectronRx first had to build the different components of this regime. This included assembling different sensors to gather physiological information before subsequently analysing it via machine learning. Throughout the process, some of these sensors became commercial opportunities. This was how the company developed FoneDx – the product on which all efforts are currently focused. FoneDx is a smartphone application capable of transforming a regular smartphone into a remote diagnostic platform. Thereby, providing both individuals and clinicians with information about cardiovascular and pulmonary health. This tele healthcare monitoring app is now in a pre-clinical, pre-market stage awaiting clinical trials to resume after the pandemic. The same applies to the remaining ElectronRx products: Ohmm and FoneDx Corporate Wellness. The former is a menstrual-pain management device, whereas the latter is an application that enables employers to quantify stress levels in their workforce.
Recognising commercial opportunities is just one of the many challenges developing companies must face. These companies are further faced with human resource challenges associated with recruiting the right team, technical challenges associated with product development, as well as financial challenges associated with the constant need to raise funding. More significant, perhaps, are the regulatory challenges associated with navigating the medical landscape. The latter are exclusive to developing companies which, like ElectronRx, operate in the field of precision medicine. For these companies must gain regulatory approval before building a medical device or conducting a clinical trial – which represents a significant risk to investors. According to Dr Patel, partaking in the P4 Precision Medicine Accelerator scale up programme was instrumental for ElectronRx to find the right fit for its regulatory needs. Indeed, as a member of the P4 network, the company has access to a wide range of experts in the areas of precision medicine, business development, investment and medical regulation.
Undeterred by the many challenges it has had to face, ElectronRx is currently well underway to fulfilling its goal of creating a digital pill. The company has a number of clients lined up for its multiple products and, having developed a deep domain knowledge throughout the development of the latter, is very close to becoming a global expert in the area of remote diagnostics. Moreover, the company is now starting to develop its next big platform: neuromodulation. This is the modulation of signals from the nervous system for clinical purposes. When questioned about the reasons behind the successful journey of ElectronRx, Dr Patel credited its highly motivated and multi-disciplinary team. Together, mathematicians, physicists, medical engineers, software engineers, electronic engineers and chemists make up the team at ElectronRx. These individuals are united in their desire to make a genuine contribution to the field of precision medicine and work in an exceptionally dynamic environment. Dr Patel is confident that with the expertise of these uniquely talented people and the maintenance of a highly dynamic and innovative work environment, ElectronRx will continue to succeed. All things considered, it is safe to say that the future looks bright for ElectronRx.
For more information and opportunities visit www.electronrx.com.
Written by: Marta Caldeira, 15th July 2020