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EPIC: SPHR
Market: AIM
52-week High/Low: 13.40p / 0.35p
Sector: Pharma & Biotech
Market Cap: 0.64M
Sphere Medical Holding PLC

Sphere Medical Holding PLC

Sphere Medical is a dynamic company specialising in the development of innovative medical monitoring and diagnostic equipment.

Our products are used in a wide range of medical applications, enabling faster clinical decision-making and improved patient outcomes, whilst providing efficiencies that result in reduced healthcare costs.

The Company’s strategy is focused on developing the Proxima platform for measuring blood gases, electrolytes and metabolites. 

Proxima delivers near real time analysis of blood gases, electrolytes and metabolites, at the patient’s bedside.  Proxima can be used on patients across a wide therapeutic range, enabling faster clinical decision making and improved patient outcomes, whilst potentially reducing costs for healthcare payers.

Sphere Medical Holding PLC

www.spheremedical.com

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Big picture - Why invest in Sphere Medical Holding PLC


Sphere Medical Holding PLC Snapshot

Our mission statement

At Sphere Medical we have a clear vision of what our company does and our aims.

It is the mission of Sphere Medical to:
  • Improve patient care and reduce healthcare costs through supplying healthcare professionals with innovative, real time point of care diagnostic and monitoring products
  • Serve our customers by developing products of the highest quality to improve patient care
  • Make a fair and sustainable profit to enable us to invest in the growth of our company for the benefit of our stakeholders
  • Create an environment that enables our employees to perform at their best and encourages continuous professional development

Our quality policy

Delivering improved patient care drives every aspect of our business.

We are committed to delivering medical device products which exceed our customers’ expectations for quality, reliability and safety.

We will achieve this through our culture of continually maintaining the effectiveness of our Quality Management System and improving our processes to satisfy the required regulatory requirements, as well as training our employees to deliver high quality services.

 

Proxima

Discover how easy it is to run a blood gas with this in-line arterial blood gas monitoring system. 

Frequent measurement of arterial blood samples is an important component in the effective management of patients in the critical care environment, particularly those that are unstable. Point of care or near patient testing has had significant impact on the turnaround time for time critical tests. However, this has come at the expense of adding to the workload of front line care staff, taking them away from the patient at key times and can still involve significant wastage of patient blood.

Proxima is a patient dedicated arterial blood gas analyser which supports rapid and frequent measurement without leaving the patient.

The Proxima system is operated using the dedicated bedside monitor with touch screen interface. Simple, clear routines guide the user through operating the system and patient results are displayed clearly at the patient bedside and can be electronically transferred for permanent record.

The Proxima Sensor is a disposable device attached to the patient’s arterial line without interfering with blood pressure monitoring. When an arterial blood gas analysis is required, blood is withdrawn from the patient into the Proxima Sensor and a panel of analytes is measured to laboratory analyser accuracy. All blood is returned to the patient and results are displayed on the bedside monitor.

Proxima Sensor can be used for monitoring blood gases, electrolytes and glucose over a 72 hour period as many times as required.

Scheduling

The Proxima acute respiratory and metabolic monitor now supports a scheduling function

Many care protocols call for the regular measurement of key blood markers to monitor the patient condition and response to therapy. This is particularly the case in the management of the sickest patients, and care staff can sometimes struggle

For example:

  • Blood gases are often measured hourly for patients undergoing ECMO treatment for respiratory failure
  • Insulin infusion protocols require initial hourly glucose measurements, reducing to two hourly measurements
  • Head trauma protocols call for hourly arterial blood pCO2 measurements, as a part of careful control of intracranial blood flow and pressure.

The Proxima acute respiratory and metabolic monitor now supports a scheduling function to support regular measurements, as well as streamlining the workflow around arterial blood sample measurement.

The user can set up a single or repeated alert at commonly used testing intervals from 15 minutes to 4 hours. The monitor provides a continuous display of both the time since the previous reading as well as the time to the next scheduled measurement. When the measurement is due, the user is given a visual and (optional) audible alert.

System Information

The Proxima system uses proven sensing methods for determining analyte concentrations in patient blood samples. The Proxima sensor contains an array of biosensors on a silicon chip, each a miniaturised version of the electrochemical sensors used in a traditional blood gas analyser.

To view the Proxima brochure, please click here

 

Clinical

Support of unstable critically ill patients is a demanding and time consuming job, whether in the intensive care unit or the operating theatre. The Proxima bedside blood gas measurement system has been designed to give a rapid turnaround of results without leaving the patient.

The Proxima system is integrated into the patient’s arterial line, operating as a closed system.  During the measurement procedure, the user draws blood into the Proxima Sensor using a closed sampler device. Once the sample has been analysed, all blood is returned to the patient. Proxima supports blood conservation best practice, aiming to reduce the risks of patient anaemia and thereby avoiding unnecessary blood transfusions.

Another key advantage of using a closed system for measurement is that it supports infection control practices. There is no need to open the arterial line and risks of blood splash injury for the carer are avoided. Furthermore, measurement directly at the patient bedside stops the transport of potentially infectious material around critical care areas, a particular concern with the infectious isolated patient.

See below how using the Proxima system can help in the care of specific patient groups in critical care.

 

Cardiac surgery

Cardiac surgery patients require intensive monitoring, both during surgery and in the following hours or days. Cardiopulmonary bypass support can lead to substantial changes in blood chemistry due to the effects of priming solution, blood loss and profound temperature change in the patient.

Blood tests may be carried out every 30 minutes during surgery and at hourly or two hourly intervals in the first day of recovery. Such a high frequency of testing can contribute to the overall blood loss experienced by these patients, and blood conservation best practice is an important aspect of avoiding complications.

The Proxima system allows rapid measurement of arterial blood gases, electrolytes and glucose levels directly at the bedside. This can speed up the time to results, even in a highly optimised care setting. In addition, use of Proxima can reduce the time that nurses are away from the patient in the intensive care unit, an important consideration in the care of unstable patients.

Proxima operates as a closed system, returning all blood to the patient and supporting blood conservation in this vulnerable group.

 

For more information, please click here

Management Team

The management team of Sphere Medical has the expertise of highly experienced professionals in areas such as medicine, research and development, regulatory affairs and commercialisation. The team is tasked with guiding the company during this dynamic phase of its development and beyond.

Dr David Martyr, Non-Executive Chairman

Dr Martyr has held several senior level positions of medical, diagnostic, life science and laser technology companies for more than 20 years.  He is currently CEO of Tecan AG, a Swiss listed laboratory instruments and solutions company with a market capitalisation of over CHF1BN.  Prior to that he spent 13 years at Leica Microsystems which was acquired by Danaher Corporation in 2005, his last position being Group President Leica Microsystems with US$1.3BN of sales and 4,500 employees and simultaneously VP & Group Executive, Danaher Corporation, with responsibility for the development of the Life Science and Diagnostics business platform.  David is also a Non-Executive Director of ALDA (Analytical Life Science Diagnostics Association), based near Washington DC.

Dr Wolfgang Rencken, CEO, Director

With many years’ experience in the healthcare and medical devices industries, Dr Wolfgang Rencken, has a proven track record in developing and commercialising award-winning diagnostic and monitoring equipment and driving significant revenue growth. Wolfgang’s previous experience includes being CEO of MAQUET Cardiopulmonary AG, an international medical devices group and COO of Definiens AG. He also spent 15 years with Siemens AG where among other roles he was Vice President of Engineering in the Software Components and Workstations business unit. He holds a doctorate in Engineering Science, Oxford University and is the author of numerous patents and scientific publications in the area of robotics.

Richard Wright, CFO, Director

Mr Wright is a Chartered Accountant with more than 20 years of experience in financial roles across a variety of sectors. Prior to joining Sphere Medical, he was Finance Director of Alliance Pharma plc, the UK based AIM-listed speciality pharmaceutical company for eight years.  Richard has also previously held senior finance positions with FirstGroup plc, Somerrfield plc and Parragon Books Limited.  Richard read Mathematics at the University of Cambridge and qualified as an accountant with Ernst & Young LLP.

Dr Gavin Troughton, VP Business Development

Dr Gavin Troughton is a co-founder of Sphere Medical and has over 20 years’ experience in the development and commercial exploitation of chemical sensors and related technologies, particularly relating to the medical industry. Previously, Gavin worked for a number of years at Zellweger Analytics and at Scientific Generics, where he worked in their business innovation function.

Ian Yeeles, VP Sales EMEA

Ian Yeeles has over 18 years’ experience in the healthcare and diagnostics market, having joined from Abbott Laboratories in August 2014.  He held a number of different roles at Abbott working in point of care diagnostics and patient self-testing within international healthcare systems.  His most recent role was General Manager, EMEA, Russia and Indian Direct and Distributor Sales Operations where he developed new markets and new routes to market across the area through direct sales and distributor networks.  He will be responsible for establishing a sales network within Europe, Middle East and Africa

Luciën van Os, COO

Luciën van Os has more than 12 years’ experience in the medical device industry, having worked for companies such as Medtronic and Gambro in senior management positions as well as being CEO of small and mid-sized companies. He has an engineering background and has also worked for more than 15 years in various engineering and R&D roles for companies such as Philips and Ericsson.  Luciën has significant experience in bringing new technologies and products to market such as DECT cordless products, Bluetooth accessories, fully digital pacemakers, remote monitoring of cardiac pacemaker patients and injectable cardiac monitoring devices.

Shirlee Reason, Office Manager

Shirlee is an innovative and detailed orientated Office Manager with over 19 years’ experience in Office Management and Human Resources ranging across specialities such as Security and Information Technology.  She has a medical background as she worked for 11 years as a qualified nurse with much of that time based in Intensive and Coronary Care.  Shirlee’s expertise also spans Health & Safety and Internal Auditing and has significant experience dealing with start-up companies. Shirlee is passionate about HR with speciality in Assessing Personalities in the workplace and Psychology.

 

For information on the Board of Directors, please click here

 

As at 4 September 2017 shareholders with a shareholding, directly or indirectly, of 3% or more of the issued share capital of the company are:

Fund Shares Percent
Woodford Investment Management LLP 42,526,575 29.99%
The Wales Life Sciences Investment Fund LLP 25,000,000 17.6%
LSP Life Sciences Fund 8,854,656 6.2%
Ortho-Clinical Diagnostics 8,141,250 5.7%
Winterflood Securities 7,296,508 5.1%

 

Sphere Medical Ltd

Harston Mill

Harston

Cambridge

CB22 7GG

Tel: +44 (0)1223 875222

 

 

NOMINATED ADVISER AND BROKER:

Panmure Gordon (UK) Limited,

One New Change

London EC4M 9AF

 

SOLICITORS TO SPHERE:

Taylor Wessing LLP,

5 New Street Square,

London EC4A 3TW

 

AUDITORS:

Grant Thornton UK LLP,

101 Cambridge Science Park, Milton Road,

Cambridge CB4 0FY

 

FINANCIAL PR:

Consilium Strategic Communications,

41 Lothbury

London, EC2R 7HG,

[email protected]

 

PATENT AND TRADE MARK ATTORNEYS:

Elkington & Fife,

Thavies Inn House, 3-4 Holborn Circus,

London EC1N 2HA

 

Registrars:

Equiniti, Aspect House,

Spencer Road, Lancing,

West Sussex BN99 6DA

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