Striking new paths in medicine - Diagnostics Partnering Conference 2019

On November 18th, 2019, parallel to the first day of MEDICA, the world forum for medicine, the Diagnostics Partnering Conference (DxPx Conference) will take place in Düsseldorf, bringing together stakeholders in the diagnostics and research tool industry. The DxPx Conference focuses on discovering technologies, finding financing and investment opportunities and forming collaborative partnerships.

In this MEDICA.de interview, Dr. Mirko Stange explains the vision behind the DxPx Conference, gives valuable insights into the Conference’s target audience and contents and illustrates its advantages over other partnering conferences.

Dr. Stange, the DxPx Conference takes place in parallel with the MEDICA trade fair. What is the vision behind the Conference that you initiated?

Dr. Mirko Stange: The DxPx Conference is a comprehensive partnering conference committed to diagnostics, digital diagnostics, and life science research tools. It is the only international event in the world dedicated to giving executives and founders in these growing businesses a platform to personally discuss potential collaboration, financing, licensing and merger and acquisition (M & A) opportunities.

My team and I have been working in the diagnostics industry for years and after not feeling adequately represented in the popular pharma-related partnering conferences we initiated this specific conference. We wanted to create a change, because the growing importance of diagnostics, as well as the increasing market and regulatory approval requirements necessitate a targeted knowledge and opinion exchange.

The DxPx Conference invites startup founders, industry representatives and investors to participate. Why is it crucial for these three groups to join the Conference?

Stange: The three groups of conference participants you just mentioned have a symbiotic relationship. Startups and small businesses need venture capital to advance their innovative solutions and make them attractive to big market players. At the same time, established companies and market leaders always look for innovative ideas and technologies that boost their portfolio strategy. The third group, the venture capitalists, hunt for promising new investment opportunities and could use the DxPx Conference to introduce their portfolio companies to potential strategic buyers or other investors. We combine and meet all these specific needs with the DxPx Conference. Our partnership with MEDICA will continue to assist us in delivering value to an entire industry sector.

What are the advantages of the DxPx Conference over other partnering conferences?

Stange: Compared to other partnering conferences, the DxPx Conference has a clear directive – it exclusively focuses on a very important sector that has previously been in the shadow of the pharmaceutical industry, but one that has its own specific rules and regulations and now hosts a first-of-its-kind global forum. Unlike regional networking events, our venue provides the much-needed international perspective to connect with the world's key industry players, thus improving the quality and effectiveness of knowledge and opinion exchange throughout the Conference. 

What are the contents of the DxPx Conference program?

Stange: Our program has adopted three pillars. We focus on 20-minute "one-to-one meetings", which are scheduled prior to the Conference via software and include the respective interested partners. Startups, investors and industry representatives can take advantage of these meetings to introduce themselves and address their individual concerns. Particulary founders benefit from this unique opportunity to assess the feasibility of their concept, optimize it if necessary and find partners to structure their business. It also enables investors and industry representatives to meet dozens of new companies and personally connect with decision-makers.

The second pillar is a Global Healthcare Reimbursement Symposium, as lack of reimbursement is a primary barrier to entry when it comes to innovative products.

The third pillar pertains to so-called startup pitches, where a selected group of startup companies gets the chance to showcase their business idea in pitch slots to decision-makers. Prior to the DxPx Conference, our sponsors select the startups and offer all applicants the chance to have their business plan reviewed by renowned industry leaders and seasoned experts.

The DxPX Conferences also chooses the winner of the "Best Dx Startup 2019 Award". What characteristics should the award winner’s innovation exhibit?

Stange: The key factors that we believe are critical for startup success are a great team and a patentable innovation that meets a variety of customer needs and expectations. What’s more, the innovation should drive a positive change in treatment or result in the improvement of existing medical processes. Generally speaking, the innovation model is only promising if its use is quick, cost-efficient and effective.

In other words, there is a strong emphasis on new technologies. Why should startups use this platform to showcase their innovation?

Stange: Apart from the Award aspect, the platform gives young companies and teams access to key decision-makers in our very unique industry sector. Access they would otherwise only gain through months if not years of travel to numerous events around the world. Meanwhile, this is the only venue where they can exclusively connect with investors and industry representatives, who understand the unique characteristics of the industry sector.

The DxPx Conference also teams up with a Chinese partner and offers access to respective investors. Based on their one-to-one meetings, six startups are selected for our partner and will either be invited to a one-week investor roadshow in China or get to showcase their startup company in connection with an Investment Banking Conference in San Francisco in January 2020.

Why does the DxPx Conference take place in parallel to the first day of MEDICA 2019? 

Stange: The MEDICA trade fair is the leading international trade fair for the medical sector and a venue where all international, renowned and innovative companies come together once a year to introduce their medical technology products and solutions. The trade fair is also very strongly represented in the laboratory technology and diagnostics sector thanks to more than 800 exhibitors who present modern laboratory medicine innovations. The fair is also host to the MEDICA LABMED FORUM, which offers "one-stop knowledge" on relevant trends during sessions and presentations by prominent speakers. Our partnership allows visitors to participate in a partnering conference in parallel to the first day of MEDICA. In doing so, our conference participants save time and money for travel, enabling them to use their trip to Düsseldorf, the DxPx Conference program and a visit to MEDICA to stimulate innovation and creativity in their business.