In the late nineties, researchers from a promising yet volatile French SME in the medical sector decided to bet on their own horse. The seven founders teamed-up with Grard Heinrich, an experienced businessman familiar with the pharmaceutical industry and with Gemmes Ventures, an investment fund specialising in start-up support. Now venture capital firms associated to names such as Rotschild are backing CrossJect, which is awaiting favourable conditions for stock-market flotation.
A Simple idea
The product is as simple as it is daring a needle-free injection device. Though the idea has been around since at least the last century, no-one so far has managed to develop an efficient product that can inject all kind of medical molecules with the same level precision and reliability. Most importantly, the device, called Zeneo, answers a real market need. 'We did not try to reinvent the wheel with this project, nor did we come up with a new high-tech process that was not already out there,' says Patrick Alexandre, Chief Technical Officer at CrossJect 'we created a technology able to answer a simple market opportunity'. Still the young company has been prolific in patents, with 26 different innovations registered through 370 different patents worldwide.
Market projections are equally impressive: first sales are planned for 2014 and the production of needle-free injection devices could already reach 150 million units by this time, covering a fraction of the 12 billion injections given each year worldwide; many of which are administrated by the patients themselves. With a rapidly ageing population in the western world, putting welfare state budgets under pressure, the medical community sees self-injection as a safe and reliable solution, especially adapted to the treatment of chronic diseases such as hepatitis or arthritis.
The Zeneo device is also a good solution to needle-phobia, a fairly common problem, with an estimated prevalence of 15%
|Contact: Piotr Pogorzelski|