WE DID Commercialisation, Licensing, Capital raising, Intellectual property, R&D Tax.
PARTNERS Anabela Correia
How did you find Inner Maven?I met Dr. Anabela Correia in late 2012 following the first animal trial of my invention the LiVac Retractor.
What is your product?The LiVac Retractor is a single-use soft silicone device which attaches to regulated suction in order to create a vacuum which joins the liver and diaphragm. The LiVac Retractor takes its name from the description “LIver VACuum retraction device” as it utilises suction to retract the liver in laparoscopic surgery. Unlike most other surgical retractors, LiVac does not require a dedicated surgical incision for insertion and placement. LiVac is indicated for use during laparoscopic surgery; typically cholecystectomy, fundoplication, gastric banding, gastrectomy, gastroplasty and other procedures where retraction of the liver is necessary to provide a clear visual field to access the target organ(s).
The key benefits of the LiVac device are:
• The suction of the LiVac Retractor causes the liver to cohere to the diaphragm during surgery, thereby allowing access to the organs below and minimising trauma to the liver.
• The suction tubing exits alongside existing ports, hence no additional incisions are required. All other retraction methods involve pushing the under-surface of the liver upwards, towards the diaphragm and either require a separate incision or port, or are cumbersome to use.
• Liver retraction is achieved in upper gastro intestinal surgeries without additional incisions and thereby minimising trauma to the patient.
How was your journey?Inner Maven have been a key driver in moving LiVac from a prototype in 2012 to a registered medical device, now distributed internationally, in just over three years.
What challenges did you face along the way?During the testing phase of the LiVac device we had surgeon feedback that in certain circumstance there could be a risk of tubing becoming compressed during surgery.
How did Inner Maven help you overcome these challenges?Inner Maven directed worked with engineers to design, manufacture, produce and test a new non-compressible connector tool to reduce the risk of tubing compression when using the LiVac Retractor System. Designs for the new accessory were shaped by surgeon feedback gathered by Inner Maven. As a result the original LiVac Retractor System design was replaced, and the risk of malfunction was mitigated.
How did you find the final outcome delivered by Inner Maven?Inner Maven's direction led to the Federal Government grant-supported Clinical Trial in 2013, which formed the basis for subsequent regulatory approval. Inner Maven also drove the critical fund-raising and corporate restructuring necessary to grow the company in 2014, and implemented the structures and accounting measures necessary for corporate governance and to leverage the R&D Tax Incentive program. The team at Inner Maven has managed all of the processes necessary to run a medical device company, ranging from appropriate insurances, developing and executing contractor, manufacturer and distributor agreements, direct negotiations with distributor companies, and planning the future grown and budget for the company.
Working with Anabela and Inner Maven has been a pleasure and privilege. My respect for her professional abilities is matched by my admiration for her integrity.
Dr Philip Gan, General Surgeon, Inventor and Founding Director of Livac Pty Ltd
