What was the biggest obstacle in starting Time is Brain?
Martínez: The founders and team of Time is Brain are highly motivated and fully committed to bringing BraiN20® to the market to enhance stroke patients' outcomes. However, BraiN20® faces the challenge of navigating a dynamic regulatory landscape. Medical devices marketed in the EU, USA, LATAM, Canada, and Australia are subject to regulatory controls, that involve demonstrating safety and effectiveness.
Each country has its own regulatory process with distinct steps and required documents that must be submitted and approved before market access is granted.
What are the next steps for Time is Brain?
Martínez: We plan to start a second clinical trial, the PROMISE20 study, in September 2023. The aim is to validate the accuracy and safety of the BraiN20® device and obtain the CE mark between Q4 2024 and Q1 2025, enabling us to begin market penetration. Additionally, we are on track to finish manufacturing the BraiN20® pre-series during Q4 2023.
How do you assess the opportunities for start-ups in the medical market?
Martínez: The medical market is highly competitive and complex, with significant barriers in areas such as research and development, regulatory compliance, and more. However, we firmly believe that our product possesses a breakthrough technology capable of enhancing outcomes for Acute Ischemic Stroke (AIS) patients worldwide.
Since establishing Time is Brain we are preparing the market launch of our product by conducting several tasks: a) to design a global dissemination/communication plan across key opinion leaders, neurologists and other health care personnel, b) expert panels and market access research to identify the pains of our stakeholders and the ability of BraiN20® to relieve them, c) analysis of the willingness to pay, d) validation of our business model, d) analysis of reimbursement models in the targeted markets and e) HTA assessment. We have a potential diversification of the intended use of our product and we already have contact to hospitals in Europe and the US to carry out pilot studies.
What do you expect as an exhibitor from MEDICA 2023?
Martínez: We are convinced that the MEDICA trade fair will provide Time is Brain with the opportunity to interact with medical distributors, suppliers, and stakeholders, thereby facilitating the access of BraiN20 to various markets. Undoubtedly, our participation in MEDICA 2023 will be a turning point for our company.