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Revolutionizing Healthcare with Wearable Continuous Molecular Monitoring
Episode

Peter Vranes, Co-CEO & Co- Founder at Nutromics

Revolutionizing Healthcare with Wearable Continuous Molecular Monitoring

In this Outcomes Rocket MedTech podcast, we are excited to feature Peter Vranes, CEO & Co-Founder of Nutromics, an Australian medtech company revolutionizing healthcare through continuous real-time molecular monitoring. 

Peter discusses how Nutromic’s smart patch biosensor solves some of the healthcare challenges in chronic disease prevention and management, acute diseases, and therapeutic drug monitoring. He shares the lightbulb moment which led to the creation of Nutromic, dives into vancomycin, what happens when patients have overdosed, and how the smart patch can help clinicians have accurate, real-time data, continuous monitoring of vancomycin.  He also talks about therapeutic drug monitoring for a whole range of drugs, the benefits for both physicians and patients, and the different pivots the company did that led to the smart patch. Peter also shares his insights on being transparent and building relationships of trust with VCs. The company is preparing for a clinical trial in a few months and has closed a 7.5 multimillion-dollar grant.

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Revolutionizing Healthcare with Wearable Continuous Molecular Monitoring

About Peter Vranes

Peter Vranes is a Chemical Engineer and serial entrepreneur. He is the co-founder of Nutromics. The company’s innovative Smart Patch biosensor platform will solve some of the biggest healthcare challenges we face today in the fields of chronic disease prevention, chronic disease management, acute diseases, and therapeutic drug monitoring.

Prior to Nutromics, Peter founded Biocore Technologies and lead the team with the development and commercialization of several natural cosmeceutical skincare brands that were distributed in 1,500 retailers throughout Australia. The company was successfully sold in 2013.

Revolutionizing Healthcare with Wearable Continuous Molecular Monitoring with Peter Vranes, Co-CEO & Co- Founder at Nutromics: Audio automatically transcribed by Sonix

Revolutionizing Healthcare with Wearable Continuous Molecular Monitoring with Peter Vranes, Co-CEO & Co- Founder at Nutromics: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Paul Grand:
Hi everyone, thanks for tuning in. I’m your host, Paul Grand, here on the Outcomes Rocket MedTech podcast. I’m really excited to have you back with us. This is a lot of fun for me and hopefully, you’re enjoying it as much as I am. If you haven’t heard me before, I’m the founder and CEO at MedTech Innovator, which is the world’s largest medical device accelerator. You can learn about us on the web, at medtechinnovator.org, and also if you look at our show notes, you’ll find a link to the website. In this podcast series, I’m interviewing leaders and shakers, and stakeholders in the medtech industry, people who are working together to improve outcomes, and there’ll be a link in the show notes for this particular episode on LinkedIn. And I invite you to join the conversation by clicking that link, sharing your thoughts, being part of the conversation. My guest today is Peter Vranes who’s CEO of Nutromics. Peter is a chemical engineer and a serial entrepreneur. He’s the co-founder of Nutromics, which is an Australian medtech company, revolutionizing health care through continuous, real-time molecular monitoring. The company’s innovative smart patch biosensor platform will solve some of the biggest challenges we face today in health care, in the fields of chronic disease prevention, chronic disease management, acute diseases, and therapeutic drug monitoring just to start. Prior to Nutromics. Peter founded Biocore Technologies and led the team of the development and commercialization of several natural cosmeceutical skincare brands distributed in over fifteen hundred retailers throughout Australia. The company was sold in 2013, and then he went on to found Nutromics. Peter’s got a chemical engineering degree from RMIT in Melbourne. We’re really lucky to have you here, Peter. Welcome to the Outcomes Rocket MedTech podcast.

Peter Vranes:
Great to be here, Paul. Thank you for having me on. Very excited to be here.

Paul Grand:
Where I’m excited to have you on Peter, and I’m excited because you’ve made it to the finals and MedTech Innovator. And for those of you out there who don’t really know what that means. We had over a thousand companies apply this year. One thousand one hundred and sixty or so companies apply to Medtech Innovator. Out of those companies, we had panels of hundreds of people review these companies, and they chose 50 companies to be part of our accelerator, Peter and Nutromics is part of that. And then within that, our mentors nominate companies to be in our finals competition and Nutromics made it to the finals, which is just a huge deal. Very excited for you, and I can’t wait to share some more of the story with our listeners here today, Peter.

Peter Vranes:
Yeah. Well, we were over the moon, Paul, to say when we found out that we were a finalist. This is, you know. There’s a lot of competitions and a lot of accelerators out there. This is the world’s biggest. And I want to say, going through this program, we’ve been mentored by some of the biggest companies in the medtech industry. We’ve got enormous value. But to become the finalist, it’s a kind of surreal experience, almost, because the cohort there are exceptional. They’re amazing companies. We just couldn’t believe it and are just very grateful to be part of the program, we’ve got a huge amount of value out of it.

Paul Grand:
I’m really happy to hear that. Let’s dig in a little bit here and just get some history on you, Peter. First of all, just you know, what’s inspiring you to be in medtech in the first place? Give us a little bit of that background.

Peter Vranes:
The question is like, it’s the why? Why do why do we do what we do? And our wires are really strong? Why? And I think similar to a lot of companies in in health and medtech, we’re in an industry where we’re saving lives, literally saving lives with what we do. Every year, hundreds of thousands of people die because clinicians don’t have timely molecular data, and this is a problem that’s been around forever. And in a lot of ways, it’s a little archaic, you know, to get the molecular data in the blood draws and it’s slow and you get a single point in time data and there’s a lag and there’s all these problems associated with it. And sometimes you have fast moving disease states like sepsis or you have drug drugs that need to be monitored, but you need timely and accurate data to do that. And when you’re really, you know, peel the onion on these problems, you feel for clinicians because you know that they’re making big decisions on people’s lives with limited data. And it’s a tough it’s basically like going blindfolded. So and people die. That’s just the outcome. So we as a company, all of our staff viscerally feel this pull to remedy this situation, and we have a technology that can do that and that’s what gets us driving to do what we do. Every day, we’re building a company in a pandemic in Melbourne. We’re building, we’re in lockdown now. We’ve been in lockdown for over 200 days in total. You know, it’s hard to do a start up. It’s hard to do a hardware company. It’s hard to do a hardware company in a pandemic and. Our team is thriving, not just surviving, but thriving because of this, why, because of this pool and we go over hurdles through hurdles, you know, we make it happen because of that way. And I think we’re lucky in one respect that we are in an industry. And it’s not just that everyone in our industry, we’re in an industry that makes such a difference. And I think we’ll all look back at some point in our life and be really grateful for that, that we were able to contribute something really worthwhile. So this is something it’s really important to us as a company and, you know, it’s really driving us to basically save lives. That’s it’s as simple as

Paul Grand:
Saving lives is is a great motivator. And I think that’s what a lot of us in health care wake up to do every day. So give us the short version of the founding story. You know what? What brought you together to solve this particular challenge that you’re going after?

Peter Vranes:
Good question. I’ve never been known for my short versions, Paul, so I’ll do my best. As you mentioned in the intro, you know, I’ve been an entrepreneur for about 15 years, mainly in skincare, and I think I got to a point where I sold off the last brand, last company and started a new brand and had one of those moments where I thought, Well, this is what I want to do for the rest of my life. Basically, you know, does the world need another skincare brand? I suppose, was the ultimate question. And for me, the answer was no. And so through developing that, skincare brands associated with a German company that could measure certain molecular targets through the skin using optical means about the same time I met my co-founder, he tested matter and we kind of just bonded over this dissatisfaction around chronic diseases and how they’re managed. At the moment, it’s very much the prevention isn’t doesn’t really come into it. So long story short, because I promise the short version we we decided to join forces and start new treatments and a lot of pivots along the way. And it went from prevention of chronic diseases to therapeutic drug monitoring, which is our first market for vancomycin. It’s a life saving antibiotic, and it brought us to where we are today, and it’s really this is a dream fulfilled being fulfilled. Yeah, where we are doing it at the moment and we have a great team and we’ve got our first in human trial coming up. So very exciting times for us as a company. And yeah, that’s the start start of a journey, but a hopefully a lot longer journey to come.

Paul Grand:
Yeah. Well, it’s a great journey you’re on. And yeah, like many entrepreneurs in health care, you’ve got to be prepared to take that journey. This is not like a photo sharing app where you can knock the thing out in, you know, week and have it being used by millions of people. Right. we’ve got to take our time and be safe and efficacious and really build up that trust and all those things that go along with that. So there’s a long journey, and I know you’ve got some of that patience and enthusiasm that’s going to take you all the way. So I’m excited about that, too. I want to talk to, you know, you mentioned again about this, this unmet need. I want to dig into that a little bit more again. So when you come to, like you mentioned, vancomycin and that antibiotic, so to explain to us some of the kind of value prop for, you know, how you would define how this is going to improve lives change outcomes specifically as it relates to vancomycin. So that’s where you’re starting and and patients who are on that and then maybe longer term where you see the company going.

Peter Vranes:
Yeah, sure. So just for context, so we have a platform technology sensing technology, it’s a patch. It can monitor any molecular target continuously and in real time, that’s a big claim to fame. We’ve got the data to back it up, though, so we see ourselves as the evolution of continuous glucose monitoring, which a lot of your listeners would be familiar with. That technology can just monitor glucose. We can expand beyond that to proteins and drugs and the whole range of different targets, and it’s a blue ocean opportunity for us. So our first market is vancomycin. It’s a life saving antibiotic use, typically for conditions such as sepsis or MRSA, and it’s very problematic about one in five people in the US. You go into a hospital a dose with this vancomycin very, very commonly used 6.3 million people every year get the drug, but 10 to 20 per cent get a toxic dose. There’s a very narrow therapeutic window that clinicians are trying to get patients into, and it’s really easy to overdose a patient. So when you get a toxic dose that it can often lead to an acute kidney injury, it’s one of the top 10 killers in hospital. It’s a precursor to chronic kidney disease.

Peter Vranes:
Cost of care goes up $20000. Every time that happens, 60 percent of doses don’t even hit the therapeutic range. So you imagine you’ve got, you know, a life threatening bacteria you’re trying to treat. You need to treat that quickly, and 60 percent of your doses aren’t even treating it. It’s a big problem. So this is not, you know, you hear a lot about technologies looking for a problem. This is there is a pool from clinicians to solve this problem. This is some of the reasons why it’s a low hanging fruit for us. So there are guidelines that came out that said, this is unacceptable. What we need to do. What’s recommended is area under the curve necessitates multiple blood draws. 83 percent of U.S. hospitals do not follow those. Guidelines, because it’s impractical, it’s just too difficult to do that, many black dresses, problems all over the place. We have a solution where we eliminate pretty much all those problems and we can give clinicians real time continuous monitoring of vancomycin. No delays, no multiple blood draws. It’s just continuous and it’s with a patch so that complies with the guidelines and will help clinicians keep patients in the therapeutic zone outside the toxic zone. And where we see this going is we can do multi analyte sensing.

Peter Vranes:
So this is the first step, but where we’re heading towards is a patch for every patient. And that’s we say that because we feel that we can provide a value proposition to hospitals that warrants them putting a patch on every patient so we can do multiple molecular sensing like 15 targets together, all on the one patch. And that allows us to do molecular vital signs for triage and, for example, therapeutic drug monitoring for a whole range of drugs. Outpatient monitoring, for example, when people have major operations and they’re at high risk of acute kidney injury, we can monitor threatening, for example, remotely. We can monitor panels of cardiac markers. So things like troponin and molecular targets like that that give people a heads up that they’re likely to have a heart attack, for example, and that they need to urgently go to hospital. So there’s a whole range of value props in that. We’re starting off zero, you know, laser focused on the first one because all roads lead through that, but there’s a much bigger vision here that we’re going after, and that’s how we’re building our company as a platform with that end in mind.

Paul Grand:
So that is just a great overview of all these different options, all these different opportunities, as you said, you know, being laser focused on one is really key because if you were, you got a platform. But if you’re trying to do five or six or whatever number, even two different things that impacts your ability to get to patients and be successful. So it sounds like you picked a good one. Maybe you could just give us a little more of if this works out, how will that change care for patients who are being dosed with vancomycin? How do you see that changing things by keeping people in that therapeutic window? Is that going to do you think that’s going to? What do you think that’s going to do to this particular disease or the or sepsis or whatever it is that you’re tackling here?

Peter Vranes:
Yeah. So it’s there are significant issues that patients face now when getting dosed with vancomycin. So I mentioned a few. It’s a really clear drug. So acute kidney injury is always top of mind for any clinician. And so what happens is that patients get dosed conservatively at the moment. Clinicians rightly are very concerned about toxicity, and so it takes quite a while to get patient into the therapeutic zone. Now that limits the chances of a toxic event, but it also means that the bacteria they’re trying to kill the patients exposed for longer. You’re not treating, you don’t have therapeutic dosing level to treat whatever the threat that bacteria. So that’s a risk and that’s putting patients lives at risk as well. So it’s it’s a real catch-22 for clinicians. And so what this will allow is that clinicians can get patients into that therapeutic zone much, much faster and keep them there. And so that means, you know, less complications, less chances of acute kidney injury, shorter hospital stays. There is a big trend toward dosing patients in the home hospital and the home it’s called, especially during the pandemic. This has really accelerated. And so this is another way that hospitals can dose more drugs in home because you don’t need to take up a bed to really dose a patient with vancomycin, for example. So there’s many health benefits, obviously from a patient’s point of view, but many economic benefits. And the reality of the world is you need both. You can’t, you know, hospitals are strained. They need to be able to have efficient technologies that not only help patients but save their money. And so and this is a low cost technology, actually. So you need both to have to be able to get traction in the market. And luckily, we do have the ability to do that. So that’s that’s where we’re heading with that first market.

Paul Grand:
Yeah, no. That makes a lot of sense. And I know you’ve done a lot of work to figure out which was the the best indication to go after and both in terms of having an impact time to being able to demonstrate that that, you know, this technology works and is meeting the needs. So great to hear some of the thinking behind that. So thanks for sharing that. Now I know along the way things go wrong. Right. like, you know, it’s not always, not always roses and something may come up that you weren’t expecting. So maybe you could just share with us some of the listeners hear what you, you know along the way. Any particular setbacks that you experienced and and what did you learn from those?

Peter Vranes:
It’s a great question. I think a lot of your listeners would have seen there’s like a meme out there where what people think and what the reality is and say what people think is a straight line where you start up here and you just go along this straight line and you get to your destination. And then the second part of that meme is the reality. And it’s just a big squiggle. It’s all over the place. And so it goes to kind of what you’re talking about where, you know? Partnership and innovation is not a straight line. There are setbacks everywhere. That’s par for the course and all entrepreneurs know it and we expect it. And if you don’t know it, you’re going to find out pretty fast Right.. So that is the essence of entrepreneurship is pivoting, changing, adapting, you know, a lot of ways it’s it’s that Darwinian theory of survival of the fittest, how fast you can learn and adapt is probably the greatest indicator of your chance of survival. And we’ve had our fair share of challenges and pivots along the way. And there’s hundreds to be, you know, but the ones that come to mind are technological pivots. So I mentioned that, you know, we started off with an optical technology that could measure carotenoids, and that was the link with the skin care because right at the beginning, I was looking at how to monitor skin health. And so carotenoids in skin is an indicator of skin health, and that’s where this actually started. And so we look to apply that technology beyond just carotenoids to other micronutrients. And then so quickly we discovered that wasn’t going to do that was a nice dream, but the reality just wasn’t there. So we pivoted from that and we looked at sweat and we thought, Okay, let’s look at something non, yeah, it’s non-invasive.

Peter Vranes:
Let’s see if we can monitor glucose in sweat. So we went a fair way down that path and then realized, well, one day that might that might happen. But you know, it’s not something we want to take on. It’s just there’s too many problems. And then we pivoted again and we went to ISF, which is interstitial fluid, the same fluid that’s used by CGM continuous glucose monitors. They use that fluid and we’re using a microneedle now in ISF. And that was that’s that is doable. We are doing it. But it took that wasn’t self-evident from the start. So there was there was pivots along the way. And I think we’ll we were fortunate enough that in our DNA, as a company, we have a bit of an open innovation model. We collaborate broadly. So from the day one, we’ve always been who is the best researchers in ISF? Who’s the best researcher for this or that? Who’s the expert in the world for this? And we were literally fly to we flowed to the US all the time and we speak to those people and we engage them. And we’ve been very successful in being able to do that and bring them on board. And that’s allowed us to learn quickly and avoid going too far down the path of certain technologies that just aren’t going to work. And we do that even today. We’re just bringing the best in the world to solve problems because we’re problem solving machines. That’s what we do, and it helps us to, you know, just avoid spending too much money going down a path that’s not going to work well.

Paul Grand:
I think that’s a really good example for our listeners, for all those people out there who haven’t gone the entrepreneurial path, it is definitely not a straight line. There’s lots of pivoting. There’s lots of changing along the way and you’ve got to be prepared for that Right.. So that gives you the ability to say, OK, this didn’t work. Let’s try that. That’s really important. And you know, you’ve even changed, you know, your sensing technology, all sorts of things along the way from, as you said, for optical to going all the way to interstitial fluid, which, you know, makes a lot of sense to me knowing the space. So. So that’s really great that you shared that for everybody. Let me just get to a, you know, maybe some exciting things for you. So, you know, no one, of course you’re in the MedTech Innovator Finals. I know that’s pretty exciting. What else is exciting you today about, you know, at the company, what do you what do you have coming up that you’re really passionate and excited about?

Peter Vranes:
Good question. A couple of things come to mind, so we’ve we’ve got our first in human trial coming up, and so that’s in a few months. That’s a huge value inflection for us. As a company, we’ve got a lot of data showing that, you know, there’s the sensor is stable, you’ve got two and a half days worth of data in whole blood that is stable and a whole range of different indicators that this will be successful. But ultimately, we need to have that clinical trial data to prove this technology works. So that’s super exciting for us. And then we’re eagerly awaiting the outcome of that. The other one is off the back of that. We’re going to be we just closed around, actually. So just recently, just a few weeks ago, closed a $5.7 million round. So that’s always nice to bank that money. And yeah, thank you. Yes. So that was great. And we’re going to be opening around about middle of next year. And that’s where we have a philosophy. We’re always in capital raising mode Right.. So we don’t it doesn’t start and stop and then you have nothing and then start and stop. We are perpetually in capital raising mode. Just the intensity changes. So we every day as our every week we’re having meetings. Even now we just close around, we’re still fielding a lot of inbound inquiries from VCs. So we’re always having these discussions and we’re taking some of the the marquee medtech VCs on the journey with us. So we, you know, every month or every few months, we catch up with them and we give them an update as to where we’re going.

Peter Vranes:
So we’re taking them on the journey. That’s for any entrepreneur out there. I really think that’s a vitally important thing to. Do you want it you have to build relationships with with VCs early, you know, coming to them, opening around like looking at raising capital in indistinct rounds. I don’t think is always the best way. I think you want to be very early on having these discussions with VCs showing them you can execute. So basically saying, here’s what we’re planning to do. Here’s what we and we called the good, the bad and the ugly. So we say, here’s what we did. Here’s what we said. Here’s what we did. Here’s what we we hope to do and we didn’t do. Here’s what we learnt, you know, and just give it to them straight. And I think and if you do that enough with people, just I think it’s a people thing. That’s how you gain trust. Then they understand, you know, they trust you because you’re transparent and there’s nothing to hide. Everyone knows that you’re not going to execute everything perfectly, but that’s what we try and do a lot of that. And I think that works well so that when we do open around, we’ve got people that know us that have been on the journey and that solves a lot of problems. It helps us raise money. So we got a round coming up mid next year, and we’re excited about that as well.

Paul Grand:
Well, I can tell you again, listeners, great advice when you’re hearing Peter talk about transparency and building relationships with investors. That’s what it takes. You know, people could pick up on someone, you know, not telling you the whole story. It’s very obvious. I was a VC for 12 years, and it’s very obvious when someone is leaving something out. And if it’s not and you find out later that they left something out or they’re hiding something, you know, you lose all confidence, you lose all trust. So it’s really important to build that trust. And these are relationships, as you said, Peter, that take years to develop in some cases before someone actually writes a check. And by the way, it’s a two way street Right. like you want to get to know the investors, too, because you know, once you let them into your company as an investor, they have all sorts of of rights and the ability to really potentially, you know, damage your company. It’s not just that they gave you a check and you just move on. I mean, these people can can stop your company in its tracks in some cases. So you really want to you want to build a relationship of mutual trust where you understand what they bring to the party and they understand that you’re you’re someone to be trusted.

Paul Grand:
So so that’s really great advice. I’m glad you share that with all the would be or current entrepreneurs out there. So thanks for that. Again, super excited for you on this journey. You’re doing something really important. We’ve seen all sorts of sensors at medtech, innovator and all kinds for all different uses and and I could tell you that neutral mix is standing out from the pack, not only just in terms of the platform and the technology and what it can do, but it’s it’s use the, you know, everything about, you know, neutral mix stood out for us this year as being a really differentiated company. So super excited that you were selected to be part of medtech innovator that you applied in the first place and that you made it to the finals. That’s a really big deal. I want to wrap up, maybe with a closing thought from you, Peter. Again, you’ve given lots of great advice for everybody. So just give us kind of one closing thought of just, you know, reflecting on our conversation. Anything else you think people should know about neutral mics or anything else you want to share? And then also let us know where the outcomes rocket listeners can get in touch you, whether it’s LinkedIn or what’s the best way to find you?

Peter Vranes:
Yeah, good question, Paul. Look, you know, we have a fundamental belief that to be successful, to have a transformative technology, you need three things you need a great technology. Obviously, you need great talented people, world class at what they do and you need a great culture that binds it all together. And that’s what we focus on. And so with that in mind, we’re we’re a rapidly growing company. We’re right at the moment in looking for and we just open this up or about to actually open it up. Chief Medical Officer So if you’re listening to this and this resonates with you and you’re interested, reach out. This is a really critical, pivotal role for the company. So that’s probably one of the one of the things that’s kind of top of mind at the moment, Paul. And you can reach out via LinkedIn. If anyone sort of interested in following you our journey, LinkedIn’s probably the best way to keep up updated. We always post pretty much daily on that, so you get to get to see how we’re traveling. Our first market is going to be in the US, so we will be opening an office in the US in the not too distant future. And yeah, so and look, if you’re a clinician and you think that there is an application of this technology, you always thought, Gee, if only you could measure X, Y or Z.

Peter Vranes:
Wouldn’t that be remarkable continuously and in real time, I could solve all these different problems. We want to hear from you. You know, we we have what we call an open innovation back end model. We know that we can’t constrain the innovation within the four walls of this organization. This technology is bigger than that. So we invite others to come in and to work with us and we want to work with you. We work with lots of researchers in. Adversities to try and discover different applications of this technology, so if there’s something you have in mind that you’ve always wondered, you know, if only the technology was there by all means reach out, we want to talk to you because that might be the spark that takes this technology into a different direction and can solve some really significant and important problems in health care because they all start with a thought, a start. And maybe that’s that’s one of those starts. So reach out. Talk to us. We love to talk to you, and let’s see where that journey goes.

Paul Grand:
Fantastic. You know, and I echo that. So if you’re a clinician and you’re just even interested in seeing where this technology could be applied, as Peter said, you’ve got a you’ve got a wish and now there’s a technology that can actually deliver on it. Reach out for sure to Peter. And hey, you may wind up getting so excited that you joined the company as CMO should be pretty cool. So, you know, that is that is a real opportunity. That’s how this works. You know, you find people along the way and you say, Hey, you know, I love love what you’re doing. I love to talk to you more. And next thing you know, you’re working for the company. So, you know, I highly encourage people, reach out to Peter, reach out to the company, you know, he mentioned, you know, he’s got a great team. It’s not just Peter, Gitesh and the rest of the team there, I know are all are all working really hard. This is a a company culture that he’s built that I know a lot of people are excited about. I see your posts on LinkedIn and see the enthusiasm and excitement from your team. You know, it’s it’s very evident when you read your messaging and everything. This isn’t just, you know, one person driving the show kind of thing. It’s definitely a team and and I applaud you for the way you’re running the company. So, so great job, Peter.

Peter Vranes:
Thanks, Paul. And just one thing I’ll quickly mention, you know, when you’re an entrepreneur, there’s lots of opportunity that a lot of people knock on the door and say, Hey, we’ve got this, we’ve got this all these different programs and accelerators. And I’ve got to say, and I know this is maybe a shameless it might come across as a shameless plug and pull, but I would highly, highly recommend the value that we’ve got from the medtech innovator genuinely is great, like we’ve got access to companies that we just typically wouldn’t get access to. Yeah, mentored from some some of the great big companies with people genuinely wanting to help us, you know, it’s just not an everyday thing. And and so I was a little hesitant initially when I didn’t know about him. We’re in Australia. I didn’t know much about the MedTech Innovator program, to be honest. When I first heard about it and I, we have got as a whole team massive value. Like if there is one program that we would do again, the top of the list genuinely and this this is to help everyone who’s thinking about whether they want to get into, you know, what’s going to help your business. The medtech innovator really did help us. He gave us some great connections that even beyond the end of this program, where we’re going to be pursuing these connections that are really valuable and strategic for our business, and I would just highly recommend if you can get in, I know it’s hard to get in, but if you can and you’ve got a medtech company, I highly recommend going for it because it’s just it’s different. It’s a very different to all the other programs that we’ve been on and heard about. So I’m sorry about that bit of shameless plug, but I think it’s really valuable because it’s good to know that. And I say that to other entrepreneurs that I speak to. I recommend it because we have got just so much value out of it.

Paul Grand:
Yeah, I’m really happy to hear that, Peter. You know, that’s our that’s our goal here is to to add value and to help you on your journey and being successful. And we take that very seriously that makes us wake up every day is making sure that, you know, we’re doing the best we possibly can to help you on your journey and adding the most value possible. So thank you for that. And you know, likewise, you know, we’re super happy that you applied that you were part of the program, and I know you’re going to be a huge value to our ecosystem over time, you know, not just during the program, but that you and the others in the cohort are going to have a chance to help each other. And you know, we’ve got 430 or so companies across all of our cohorts now and all of our alumni, and these are the top performing companies in the industry. So, you know, just the opportunity to be part of a network like that, something that we’re real proud of, that you have that now in your in your pocket as well, in addition to a great company and a great technology and all that need, you know, those other peers, you know, that means so much so.

Paul Grand:
So thank you for the shameless plug. I’ll take it any time and again. For those of you listening, Neutral Mix and Peter will be in the MedTech Innovator Finals. That’s going to be September 29th at the Med Tech Conference, which is run by Adva Med, the largest trade association in our industry, and we’ll be live Minneapolis on September 29th. You should look it up the med tech conference. Also, make sure you again you look for us on LinkedIn so you can join this conversation, but you know you’ll be able to watch Peter live and pitching. And if you’re someone who’s part of our industry, you even have the ability to vote. And if you look online, we’ll give you some instruction on how to do that. So really excited for you, Peter. Thanks for joining us today and for being here again on the outcomes rocket. I know you’ve been here. Once before, so glad to have you back and looking forward again to to September twenty nine for the finals competition.

Peter Vranes:
Thanks, Paul. I really enjoyed it.

Paul Grand:
All right, so there you have it. Outcomes, rocket listeners. Another great story from just a terrific entrepreneur who really is making a difference. Improving outcomes is what this is all about, and neutral mix is definitely teeing themselves up to do that in a major way. So please follow their company, follow that journey and again, tune back in to the Outcomes Rocket, where you can learn not only about med tech, which is my specialty, but also about health tech. We have a podcast on nursing innovation. We have another one on pharma and of course, we have the OG podcast from Saul Marquez himself talking just to leaders in general in the health care industry, which is frankly how I found out about new treatments in the first place. So I’m thrilled that I was a listener before I even joined as a host. So thanks for joining in today. Looking forward to seeing everyone next time on the outcomes rocket. Bye bye.

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Things You’ll Learn

  • Being laser-focused on one is key. 
  • The essence of entrepreneurship is pivoting, changing, and adapting. 
  • The entrepreneurial path is not a straight line. 
  • Have early discussions with VCs. 
  • Be transparent in dealing with VCs. 
  • To have transformative technology, you need great technology, great people, and great culture. 

 

Resources

Websites mentioned:

LinkedIn: https://www.linkedin.com/company/nutromics/

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