CHD Research Forum on Device Development-Successfully Taking a Device to Market

Video Transcription

Video Summary

The video features a discussion among several individuals about the process of bringing a medical device from idea to market. They discuss the importance of seeking advice from engineers and lawyers to protect the idea and navigate the process. They emphasize understanding the ownership rights held by institutions that employ inventors and the need to negotiate licensing agreements. The speakers recount their own experiences in developing medical devices, detailing challenges in obtaining funding, pursuing FDA approval, and finding distribution channels. They highlight the importance of working closely with tech transfer offices and seeking support from patent attorneys. The speakers also caution about the complexities and potential legal risks involved, including the possibility of patent infringement and theft of ideas by larger companies. They stress the need for thorough market validation and strategic planning for successful commercialization. The speakers acknowledge the arduous and time-consuming nature of the process but suggest that involving specialized professionals and establishing symbiotic relationships can help expedite the journey.

Keywords

medical device

conception to market

engineers

patent rights

FDA approval process

distribution channels