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Many factors influence medical device development costs, including the need for clinical studies, regulatory pathway, and technology complexity. Refinement of these numbers requires a professional team to understand the technology, regulatory, and business opportunities.

Learn how to better understand and estimate your medical device development costs from four experts and different perspectives including a venture capitalist, serial medical device entrepreneur, and medtech design and development engineers.

View recording of 90-minute live webinar.

This Virtual Medical Device Playbook is moderated by Scott Phillips, Founder and President of StarFish Medical.
  • VC perspective of the cost of developing and commercializing a medical device product: What VCs like to see and what makes us nervous.
  • Commercialization costs and surprises from a medical device serial entrepreneur - Real world examples up close and personal.
  • How to reasonably estimate your medical device and Point of Care Diagnostic device development costs.
Peter van der Velden, MBA, MSc.
Managing General Partner, Lumira Ventures
With 28 years of investment and operating experience, Peter has participated in building companies from start-up through to expansion in the life sciences, information technology, and consumer sectors. Known as a results-oriented entrepreneur with demonstrated success in venture and buyout investing, transaction structuring and completion, strategic planning, business development, and operational management and restructuring, Peter has established a strong reputation for leadership, consensus building, judgment, integrity, and clarity of vision.

Responsible for the overall business operations of Lumira Ventures, Peter is also active on the investment-side, focusing primarily on growth equity investments in companies that have made, or are close-to-making, the transition from development to selling and marketing their products. Peter’s specific investment expertise includes non-traditional and consumer-oriented medicines, spin-outs of operating businesses, restructurings, and public companies.

Peter is a very active volunteer in the communities in which he works and plays and is a frequent lecturer at universities and conferences around the world on themes related to venture capital, innovation, and healthcare. Peter works closely with both Federal and Provincial governments advising on policy matters related to healthcare innovation and innovation financing. As the Chairman of the CVCA, he worked closely with the Federal government on their Venture Capital Action Plan and was a member of the Government of Ontario’s Health Innovation Council, whose mission was to enhance the adoption of Ontario-based innovation by the Ontario healthcare system.

Throughout his career, Peter successfully participated on both sides of the value creation equation working both as an entrepreneur and as a partner and mentor to highly successful management teams. Peter’s experience includes: Founder of a boutique merchant bank focused on private IT-based companies, Head of Investment Banking for a boutique investment bank focused on the public IT-based companies, Partner in a buyout partnership targeting retail and consumer-centric businesses; Vice President Business Development for a venture capital-backed drug delivery company; and an Associate role at Canada’s then-largest venture capital firm. Peter started his working career with Canada’s largest independent vaccine manufacturer.
Ramgopal Rao
CEO 2C Tech Corporation, CEO LensGen
Ram is a serial entrepreneur with 25 years of experience in the ophthalmic pharmaceutical and device industry. Ramgopal is inventor, founder and chief executive officer of LensGen, Inc., a clinical stage medical device company that is developing a novel intraocular lens for presbyopia. The Company has received support from one of the largest medical device companies in the world. LensGen closed a $28.0 million Series A Financing in May 2018.

Currently he is also Chairman of the Board of 2C Tech Corporation, Inc., an emerging medical device company that is developing a novel nanotechnology application for preservation of vision for patients with degenerative retinal diseases. 2C Tech Completed Series B Financing in 2016 and 2019.

Ram co-developed an innovative corneal implant device for presbyopia and licensed the technology to (venture funded) Acufocus, Inc. The company is now commercializing the product on a global scale. Prior to that, Ram founded Tomey Technology Inc., that pioneered the corneal topography imaging technology that is now a standard of care in eye care for LASIK and cataract surgery. This joint venture company was acquired by Tomey Corporation of Japan.

He was Chief Operating Officer and Director of Vitreoretinal Technologies, Inc., a venture funded ophthalmic pharmaceutical company that developed a drug for diabetic retinopathy.

Ram was President of Ophthalmic Group at Premier Laser Systems, Inc.; a publicly held company that developed the first laser assisted cataract surgery technology. He also held various executive positions at Biorad Laboratories, Inc.
Mark Drlik
Director of Program Design, StarFish Medical
Mark Drlik is a senior design and engineering professional with over 20 years of product development experience. At StarFish, Mark works with clients to transition medical devices from initial product architecture definition to final product delivery to ensure client success.

His projects include design and commercialization of innovative medical devices employing ultrasound, stereotactic positioning systems, and high frequency oscillation technologies. Mark is the author of What Does it Cost to Develop a Medical Device.
Scott Phillips
CEO and Founder of StarFish Medical, and Creator of Medical Device Playbook Events
Scott Phillips has worked on hundreds of medical device development projects during more than twenty years of leading Canada's leading medical device design and development company. Scott is also CEO of ViVitro Labs, a cardiovascular device testing and engineering company with facilities in Canada and France.

Under his leadership StarFish has grown into a diverse professional organization with offices in Victoria and Toronto, clients around the world and a 100% focus on medical devices. Scott is a Chair of the LifeSciences British Columbia board, Fellow of The Canadian Academy of Engineering, winner of the EY Entrepreneur Of The Year™ 2017 Pacific Awards Technology category, 2017 recipient of the VIATEC Technology Champion award, and volunteers with Junior Achievement, Entrepreneurs Organization, and University of British Columbia. Scott holds a degree in Engineering Physics from the University of British Columbia.
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