15 May 2017
Upstream Medical Technologies
Evaluation Report – Monday 3 April 2017
Upstream is developing what could be the Next Big Thing in emergency cardiac medicine. Upstream Medical Technologies, based in the New Zealand city of Christchurch, is a privately-held developer of new diagnostics for unstable angina as well as a range of other medical conditions. Its lead product, the UARatio test for unstable angina, is being prepared for a pivotal trial ahead of a filing for 510(k) approval in the US and CE Mark approval in Europe. Upstream plans to submit regulatory applications before the end of 2018. Behind this lead test is a range of other tests including one for the more accurate detection of EPO by drug cheats in sport, and tests for other cardiovascular conditions. Founded in late 2015, Upstream is a spin-out company of the Christchurch Heart Institute, a unit of the University of Otago located at Christchurch Hospital which focuses on research into cardiovascular disease. The company is based on technology that began development around 2006 in the laboratory of Associate Professor Chris Pemberton, an authority on biomarkers for disease diagnosis. Upstream’s current largest shareholders are Otago Innovation, the University’s commercialisation arm, with 61% of the company, and Powerhouse Ventures, a New Zealand-based investor and intellectual property commercialisation company, with 20%. The company has raised NZ$775,000 to date. Upstream Medical Technologies is currently raising NZ$3m in a Series A round. This report has been prepared as an introduction to Upstream for potential investors in the current funding round, and seeks to explain in plain English the technology base of the company and the various commercial opportunities it is pursuing with that technology.
View the Report Here: Upstream Medical Technologies Evaluation Report