London-based hardware startup Femtech Astinno has collected a Innovate UK Grant of £ 360,000 ($ 450,000) to fund additional testing on a portable device under development for women suffering from a perimenopause symptom known as hot flashes.
The device full of sensors, which you call Grace, is designed to detect the onset of a hot flash and apply cooling to a woman's wrist to combat the reaction, in a process that is similar to putting the wrists under a cold spell .
The goal is that algorithmically activated cooling is done in a timely fashion to prevent hot flashes from running their usual unpleasant and uncomfortable course. While the portable bracelet itself is designed to look like a thick piece of statement jewelry.
The femtech category in general has attracted an influx of funds in recent years, while venture capitalists are slowly taking advantage of the opportunities offered by products and services that address women's health concerns.
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But it's fair to say that menopause remains an even less addressed segment in the category. Although it now appears that more attention is being paid to the issues affecting several hundred million millions of middle-aged women (and some younger ones) around the world.
The team working on Grace He has built several prototypes to date, according to founder Peter Astbury. He says limited user testing has also been done. But they have not yet firmly demonstrated the effectiveness of the core technology, so they receive grants for more advanced testing. At this stage of development, there is also no timetable for the launch of a product.
Astinno and Morgan IAT, their business partner in the project, received Innovate UK money through a UK publicly funded SMART grant program (the couple gets matching funds through the program, with public agency (70% and Astinno and Morgan IAT finance the remaining 30% of their respective costs).
The University of Loughborough, alma mater of Astbury, also participates in research and is funded at 100% of its grant costs.
"To date, several prototypes have been created, mainly because I received training in electronics and design as part of my degree at Loughborough University," says Astbury. "Shortly after leaving university, I also briefly worked with an electronics company that helped me refine certain components of the Grace product.
Morgan IAT has the crucial technical role of developing a series of prototypes with Astinno. This includes the development of hardware and software, the construction of many more advanced prototypes which are tested, refined, and then retested.
"We are working with three researchers from Loughborough University bringing together cutting edge expertise in menopausal psychology and physiology. Based at the National Center for Exercise and Sports Medicine, researchers use their fantastic laboratory facilities to Evaluate Grace, what which means that everything we do is being validated by professional research. Once this step is completed, we will have more ideas on product launch times. "
Astbury founded the startup last summer, but had started working on the concept of Grace several years earlier, during her last year in Loughborough, in 2016.
"As a member of Loughborough's business incubator, 'The Studio', I received a business grant which helped finance the business. I have also used my skills and experience in user experience design, hiring for Start-ups and large part-time healthcare companies for "startup" development, he adds. he.
The idea for the wearable device came after Astbury researched users by talking to women about their menopausal symptoms and hearing about their coping strategies for hot flashes and sweating nocturnal which can be induced.
"A woman told me about her symptoms and how she has treated them so far. He woke up ten to fifteen times a night because of his night sweats. Each time, she went to the toilet and put her wrists under cold water, which helped decrease the flow. By analyzing this method in more depth, it became clear that cooling an area of the skin can be extremely effective and many women use this technique, "she explains.
"During a hot flash, your brain mistakenly thinks that it is getting too hot and your body is losing heat. This causes sweating, redness of the skin and shortness of breath. skin acts like your body’s thermometer, transmitting information to your brain. By applying cooling to the skin at the right time, we take advantage of the body’s natural temperature regulation system. The brain receives signals that you are cold and, in turn, the body reacts in a way directly opposite to a hot flash.
"Grace's real key is to accurately and reliably prevent hot flashes (the automated nature of the bracelet) so that cooling can be applied as soon as possible," he adds. "We do this using a specific range of sensors and algorithms all working together, but I fear the details of this may not yet be made public."
Astbury says he was anxious to get grant funds at this stage of product development to avoid business dilution, as venture capital firms would need their share of capital.
"One of the best things about Innovate UK for a scientific startup like Astinno is that it doesn't help dilute its business," he says. "At the end of a successful grant project, a business becomes a much more attractive investment from the perspective of the investors and the new business. I have had conversations with several angels / VC and I will maintain these relationships, however, a grant was the best option for us at this point. "