Regardless of your stage or current structure, continued funding sources for medical device development are difficult to find. According to Price Waterhouse Coopers, funding for medical device companies dropped by $1 billion in 2009, and has been essentially flat ever since. Large investors want to come in late, after technical and clinical risks have been eliminated and market acceptance validated.
The only way to secure continued confidence and funding is to prove to your investors that you have a great plan, a great team, and a way to demonstrate your idea’s therapeutic and market feasibility.
So now comes the critical question: How will you get your medical device developed? Will you build a team, or will you hire a ready-to-go-today medical device development firm? Will you tie yourself to a manufacturer in exchange for cheaper development costs or will you develop independently to ensure flexibility and high-quality design?
Before you decide, take a look at REV.1 Engineering. We have the outsourced team you need to get your medical device to the finish line – 2x faster than hiring in-house, and without the strings attached to developing with a contract manufacturer.
If you’re looking for a medical device R&D firm that will work with you to meet your funding goals 2x Faster, give us a call at 951.696.3933, connect with us on LinkedIn, or send us an email at firstname.lastname@example.org.