The FDA has cleared UK-based Toumaz Limited's Sensium Digital Plaster with a 510(k). The device is a small, low power body-worn sensor that continuously monitors vital signs, including temperature, heart rate and respiration rate.
Toumaz also announced the formation of a joint venture with Dr Patrick Soon-Shiong's California Capital Equity (CCE). The JV will be called Toumaz US and will sell and distribute the sensor both in North America and worldwide. As part of the deal CCE will invest $25 million into the venture over the next two years. CCE will own 80 percent of Toumaz US while Toumaz Limited will have a 20 percent stake. Toumaz Limited will also receive royalty and licensing payments from the new entity.
Dr. Patrick Soon-Shion acquired Glowcaps-maker Vitality for an undisclosed sum earlier this year. Days after the announcement of that acquisition, Soon-Shiong announced a $2 million investment in Toumaz.
Toumaz's Sensium Digital Plaster leverages the company's proprietary wireless technology, Sensium, which it describes as low cost and ultra-low power. Bluetooth Low Energy and ANT+ are examples of similar and competing technologies.
"Without a doubt, wireless is the future of healthcare. Wireless technology is the key to bringing quality healthcare to everybody, wherever they may be, in real time. Toumaz's ultra-low power technology is going to be a vital element in this, and our joint venture opens up exciting prospects," Dr.Patrick Soon-Shiong, Chief Executive of California Capital Equity stated in the press release.
"We are very excited to be working closely with Dr. Patrick Soon-Shiong," Professor Chris Toumazou, CEO of Toumaz Limited stated in the release. "We share his vision of building a better healthcare system by enabling remote patient monitoring. Dr. Patrick Soon-Shiong and his team bring considerable expertise in the development and distribution of medical devices and technology in the US. The extent of Dr. Patrick Soon-Shiong’s involvement in this venture illustrates the potential of the wireless healthcare market and our compelling proposition.”
MobiHealthNews interviewed Dr. Patrick Soon-Shiong two years ago when his attention first turned to wireless health, and last year we reported live from a sprawling presentation he gave at a wireless industry event produced by CTIA. MediSens
For more on the deal, read the full press release below:
Toumaz Limited Announces Joint Venture For Newly Approved Sensium™ “Digital Plaster”
Toumaz Limited teams up with Dr. Patrick Soon-Shiong to commercialise the Sensium™ Digital Plaster, a disposable wireless body monitoring device
Abingdon, United Kingdom, 11th July 2011 – Toumaz Limited (AIM: TMZ,), a pioneer in low cost, ultra-low power wireless communications and broadcast technology, has established a new joint venture with Dr. Patrick Soon-Shiong’s company California Capital Equity LLC (‘CCE’), to expand the commercialisation and distribution of the Sensium™ Digital Plaster. The joint venture, which is named “Toumaz US LLC”, will be headquartered in San Diego, California, and will sell and distribute the Sensium™ Digital Plaster in North America and Worldwide.
Toumaz Limited is also pleased to announce that the SensiumTM Digital Paster has received 510(k) approval from the Food and Drug Administration ('FDA') in the US.
The Sensium™ Digital Plaster is an, ultra-small, ultra-low power wireless body-worn monitor that continuously and unobtrusively acquires high-quality vital signs data, including temperature, heart rate and respiration rate. The current Sensium™ Digital Plaster is targeted for use in hospital general ward environments. It also has the potential to be extended into tele-care, chronic disease monitoring, community care settings and the home, where continuous or extended monitoring of patients is important.
Dr.Patrick Soon-Shiong, Chief Executive of California Capital Equity said: "Without a doubt, wireless is the future of healthcare. Wireless technology is the key to bringing quality healthcare to everybody, wherever they may be, in real time. Toumaz's ultra-low power technology is going to be a vital element in this, and our joint venture opens up exciting prospects."
Commenting on today’s announcements, Professor Chris Toumazou, Toumaz Limited Chief Executive, said: "We are very excited to be working closely with Dr. Patrick Soon-Shiong. We share his vision of building a better healthcare system by enabling remote patient monitoring. Dr. Patrick Soon-Shiong and his team bring considerable expertise in the development and distribution of medical devices and technology in the US. The extent of Dr. Patrick Soon-Shiong’s involvement in this venture illustrates the potential of the wireless healthcare market and our compelling proposition.” He added: “We are pleased to be taking this project forward from the solid technical and commercial base that has been established. We are confident, given the disruptive nature of our technology, that launching Toumaz US as a specialist vehicle is the most effective way to bring the SensiumTM Digital Plaster to the global market.”
Under the terms of the new partnership, California Capital Equity will provide up to $25M funding to the company over the next two years and will own 80% of the equity. The remaining 20% will be held by Toumaz Limited.
Toumaz Limited will also receive both product and royalty revenues from the joint venture as it commercialises the SensiumTM Digital Plaster
Toumaz Limited and its previous Strategic Partner have worked closely to develop and refine the SensiumTM Digital Plaster over a number of years. As part of the agreement, the previous Strategic Partner is transferring to Toumaz Limited all relevant IP, product design, clinical trial data, regulatory and FDA documentation as well as sharing supplier relationships with Toumaz Limited for use in the new joint venture.
Toumaz Limited CEO Professor Chris Toumazou will join the Board of the new Toumaz US as Vice-Chairman, and Dr. Patrick Soon-Shiong will serve as Chairman. In February 2011, Toumaz Limited announced that California Capital Equity LLC had made a strategic investment in the Group to develop Sensium™ technology for consumer healthcare applications. Toumaz Limited issued 14,563,142 shares to CCE at 8.83p per share, representing a stake of 2.46% in the group.
Toumaz Limited will publish a trading update for the six months to 30 June 2011 in late July.
Members of the media interested in scheduling a briefing with Toumaz can do so by contacting Nicky Denovan at toumaz[at]evokedset[dot]com.
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About Toumaz Limited (www.toumaz.com)
Toumaz is pioneering low cost, ultra-low power wireless technologies for a wide range of markets including medical monitoring and internet-connected consumer devices.
Targeting the Healthcare market, Toumaz’s licensable smart sensor interface and transceiver platform, SensiumTM, is a leader in real-time wireless monitoring of the body’s vital signs. SensiumTM has the potential to transform medical monitoring and reduce the cost of healthcare by wirelessly connecting individuals to healthcare providers – simply, affordably and unobtrusively. For healthcare professionals, this creates new opportunities for pro-active monitoring and improved quality of care. For patients, it delivers new opportunities for lifestyle-compatible personalised healthcare.
Toumaz also uses its ultra-low power expertise to design devices for wireless connectivity and internet-connected consumer products. Toumaz currently supplies FM/DAB radio chips and complete modules to leaders in the digital radio market, such as PURE.
Toumaz is an AIM listed company (AIM: TMZ) with development centres in Oxford, UK and Taipei City, Taiwan.
About Dr Patrick Soon–Shiong
Dr Patrick Soon–Shiong is a co-inventor of more than 50 issued U.S. patents, has published more than 100 scientific papers, and developed and sold two multi-billion dollar pharmaceutical companies, American Pharma Partners (APP) and Abraxis Bioscience (ABII). APP was responsible for the only safe supply of Heparin in the United States in 2008.
Since 2006, Dr. Soon-Shiong has turned his attention to transforming healthcare by establishing an integrated health information platform and founded the National Coalition for Health Integration (NCHI) to create a national health network for the secure, national sharing of biomedical information with the goal of improving health for individuals. He has also founded the Institute for Advanced Health, which will provide high-speed computing capabilities for human genotyping to target specific cancer treatments, as well as technologies for the better management of chronic disease.