26 Jan 2018 | 02.50 pm
Digital Hub Venture Wins $330,000
PatientMpower a winner in Chicago Catalyst Challenge
26 Jan 2018 | 02.50 pm
A medical technology company based in the Digital Hub is one of three overall winners of the $1,000,000 IPF Catalyst Challenge, an event in Chicago sponsored by ‘venture philanthropy’ Three Lakes Partners, and will be taking home $330,000 (€265,000) for developing a suite of digital health solutions for Idiopathic Pulmonary Fibrosis (IPF), kidney disease and other chronic conditions.
Three Lakes Partners is a venture philanthropy whose mission is to accelerate the development of promising technologies for IPF. It provides financial support and operational leverage via partnership with a greater network of IPF resources worldwide.
PatientMpower was founded in 2014 and provides a platform for patients to better manage their condition, get access to their medical data and communicate with their health provider.
The award-winning solution it proposed is based around the development of a mobile platform that enables IPF patients to track their disease using integrated monitors, which allows them to better manage their treatment through new insights and connections with peers and caregivers.
Chief executive Eamonn Costello (pictured) commented: “Winning the IPF Catalyst Challenge is a pivotal moment for PatientMpower and our mission to empower patients to live better with IPF. This funding will also be the catalyst for us to fully realise the potential of our digital biobank — data donated by all the PF warriors, which is an amazing resource for IPF research.
Three Lakes managing director Ken Bahk added: “We created the IPF Catalyst Challenge on behalf of the countless patients around the world living with this largely ignored, heartbreaking disease. By collaborating with brilliant minds and innovative thinkers across the globe, we knew we could attack IPF from all sides and truly make progress.”
IPF is an irreversible, unpredictable, and incurable lung disease that kills about the same number of people each year as breast cancer. Without any known cause, it starts with scarring or stiffening of the lung tissue that prohibits the lungs from properly moving oxygen into the bloodstream, resulting in laboured inhalation.
The disease progresses differently in every patient but ultimately never improves, and is typically fatal within three to five years of diagnosis. Approximately 132,000 people in the US are living with IPF, and roughly 40,000 die from the disease annually.