Press communication
Lund, Sweden, October 12, 2023
This is a translation of the Swedish press release published 2023-10-12
Neola Medical is one of the few companies that have been selected to receive support from the Stanford University (Stanford) Impact1 program. The program is supported and partly financed by the American food and Drug Administration FDA, with the aim that more technological innovation designed for children will reach the market and patients. The company’s medical device, Neola®, has been selected by some of the world’s most leading experts in neonatology at Stanford as a promising innovation with the potential to improve neonatal intensive care from the first day in the clinic. With Neola®, continuous lung monitoring of premature babies can detect complications immediately and ensure that the babies receive the care they need more quickly. In this year’s Stanford Impact1 CEO Summit, an exclusive network of chosen CEOs within leading healthtech companies in pediatrics, which will take place October 12-13, 2023, Neola Medical’s CEO Hanna Sjöström will participate on site in Palo Alto, Silicon Valley, USA.
Stanford is one of the world’s leading universities in research on preterm born babies and is connected to the hospital that is ranked number one in the U.S. for neonatal care. Stanford launched the Impact1 program with the vision of improving the health, safety and quality of life of pediatric and maternal care patients globally. The name Impact1 comes from the purpose of the program to promote innovations that provide precisely “impact from day 1”. The goal of the program is to meet the children’s unique needs of hospital care, by accelerating the development and increasing the availability of effective new technology in healthcare that has been developed specifically for children. In the Impact1 program, Neola Medical gets access to company development in Stanford’s proven innovation process, a broad expertise with experts from Stanford and Silicon Valley in development for, among other things, medical technology products, regulatory experts, commercialization, and close collaboration with leading doctors in neonatal intensive care.
Each year, the US Food and Drug Administration (FDA) approves far fewer medical devices for use in children than in adults. This means that pediatricians do not always have access to the advanced medical technology they need to meet the unique care needs of their small, vulnerable patients. The FDA is supporting Stanford’s Impact1 program by awarding five years of funding to the Stanford Pediatric Device Consortium (PDC) in 2023, with the aim of supporting advanced technological innovation to reach the vulnerable pediatric patient group as quickly as possible. The selected companies also receive a special forum with FDA pediatricians and regulatory experts for informal discussion of the companies’ regulatory strategy and study plan.
“It means a lot to us to be part of the exclusive network of healtech companies partnering with Stanford to rapidly bring innovation that makes a real difference to children’s hospitals in the U.S. and around the world. It is possible for Neola Medical to be a game changer in the care of preterm born babies. Stanford and the FDA are determined to bring more medical technology innovation to the care of children and now when we have full support, I believe it will be of great importance for our upcoming launch of Neola®, to hospitals in the U.S.,” says Hanna Sjöström CEO Neola Medical.
On October 12-13, 2023, Impact1 gathers CEOs from the exclusive network in Stanford to discuss and share experiences on how advanced technology can get to market and patients faster in the U.S. Neola Medical’s CEO Hanna Sjöström participates in the conference on site in Palo Alto, Silicon Valley, USA.
About Stanford University
Stanford University, is one of America’s most prominent universities founded in 1885, located in Palo Alto, California, USA. The university is located in the heart of Silicon Valley and is an important global research center for the development and promotion of high-tech innovation.
For further information, contact:
Hanna Sjöström, CEO Neola Medical, e-mail: hanna.sjostrom@neolamedical.com
Christian Gyllenberg, CFO Neola Medical, e-mail: christian.gyllenberg@neolamedical.com
Read the entire press release (in Swedish) here: Press release