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PCCI of New Jersey

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PCCI provides complimentary executive level consulting services to help early-stage life sciences companies succeed.  We provide our members and their guest with an informal networking venue supporting our mission to help Pharma start-up companies move forward and to facilitate and create business opportunities for PCCI members and their guests.

 

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Our Next Meeting

Action Medical Technologies

Helping people in serious need to get the drugs they need quickly, effectively and safely, while still being affordable.

Presenter: Thor Halseth and Frank Osborne, Founders

Monday, September 24, 2018

Norris McLaughlin P.A. (directions)

400 Crossing Boulevard, 8th Floor, Bridgewater, NJ 08807

About

 

The Need

Action Medical Technologies (AMT) is on a unique and valuable mission to help people in serious need to get the drugs they need quickly, effectively and safely, while still being affordable.  AMT has a proprietary and potentially revolutionary drug delivery system that is economical, simple to use and superior to the current antiquated auto-injectors.  The ActJect drug delivery system is small, easy to use, versatile and convertible, has a shielded needle, is waterproof and more reliable than current devices.  No other auto injector has the versatility of our device.  This is especially critical in military/emergency medicine where a matter of seconds can be the difference between life and death.

 

Company Status

AMT is finalizing its tooling to assemble into its device to be used in the testing, user validation and bench testing to support the FDA filing for a 510K.  The ActJect’s unique proprietary design has only five parts and has been designed to be molded, manufactured and assembled with minimal cost.  With less parts comes less chance for parts failure.  Less chance of failure is also accomplished because there are no internal parts being stressed while retaining a powerful 22-pound injection spring found on many current injectors. All four molded parts reside in their molded static state without any internal spring forces being exerted upon them until the time of injection. This feature can be beneficial in reducing the frequency of device failure while substantially reducing the cost.  Present injectors can contain more than twenty-six parts and be complicated to assemble due to the amount and complexity of the parts, which results in higher prices to the user. The additional parts also increase the chances of failure of these complex devices.

 

The Plan

Continue to build infrastructure and launch the ActJect drug delivery system with the Department of Defense (DoD) by selling them generic injectables in our auto injectors.  We will also seek to partner with the Center for Disease Control and Prevention (CDC), Health and Human Services (HHS) and non-government organizations (NGO) such as the Gates Foundation, GAVI and Doctors without Borders.  We will also license our technology to pharma and biotech companies who need reliable and/or versatile delivery systems for their injectables.

 

The Founders

Thor Halseth is the inventor or co-inventor of record for: 52 safety needle patents, 62 overall patents and 33 pending patents.  He took Med Design Corp.  public and Co-founded NOW Medical, LLC which was sold to C.R. Bard.  All of his safety needle patents are now owned by Becton Dickinson.

 

Frank Osborne founded and self-funded two successful real estate companies at age 22 and was a pharmaceutical sales professional for over 15 years.  In 2012, he founded and self-funded, Hawk Grips, a multi-million dollar company and leading brand in the Physical Therapy/rehabilitation industry.  He was recognized by the White House Medical Unit in 2016 for “Outstanding Achievement in Support of the President of the United States.”

 

 

Questions for Discussion

 

  1. Should we start by launching with the DoD and thereafter, seek to license our technology in the private sector or should we pursue both concurrently?  What are the pros and cons to each?
  2. How do we value our company and the market potential for our product?  Everything to date has been self-funded.  We are starting to offer convertible notes to potential investors.
  3. What next?  What general advice can be offered to a company with amazing technology, limited funds and basic infrastructure?

 

 

Program:

 

6:00 – Dinner and Drinks
7:00 – Thor Halseth and Frank Osborne, Founders of Action Medical Technologies, will deliver the company's "elevator" pitch to the group

7:20 – The three questions for discussion listed above will be addressed

8:00 – Q&A Session

 

 

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Reservation

 

Reserve your dinner for this month's meeting online now though PayPal.

Please note: You do not need a PayPal account to reserve your spot, most credit cards are accepted.

 

 

 

Available Media

Please note: All information obtained here is the property of those presenting and should not be copied or duplicated without written consent.

 

Slides

None available at this time

Audio

None available at this time

Video

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Webcast

None available at this time

Contact Info:

 

 

 

 

Questions or Coments?

Contact: David S. Blatteis

david@rxpcci.com | (908) 252-4233

 

 

 

Good Company! Good Drink! Good Food! Good Program! Good Fun!

 

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