When Lightning Strikes: Turning Ideas Into Medical Devices
When Lightning Strikes: Turning Ideas Into Medical Devices
Typically, these many considerations are part of a corporation's formal evaluation, said Borrmann. The responsibility of a publicly held company to its shareholders is the ultimate arbiter of an idea's value, he said. Return on investment reigns supreme in the boardrooms of public companies.
Return on investment is partly determined by development costs. These include costs associated with regulatory review, Borrmann explained. When small market opportunities are involved, the costs can become burdensome. This is why "we have to work together to figure out how to convince our regulators to provide a path so small market opportunities with big medical needs can progress," he said.
Developing Your Product
Typically, these many considerations are part of a corporation's formal evaluation, said Borrmann. The responsibility of a publicly held company to its shareholders is the ultimate arbiter of an idea's value, he said. Return on investment reigns supreme in the boardrooms of public companies.
Return on investment is partly determined by development costs. These include costs associated with regulatory review, Borrmann explained. When small market opportunities are involved, the costs can become burdensome. This is why "we have to work together to figure out how to convince our regulators to provide a path so small market opportunities with big medical needs can progress," he said.
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