Olfactomics

Olfactomics is a Finnish university-based spinoff company developing a novel technology for surgical tissue assessment. The company has a breakthrough innovation on improving breast-conserving lumpectomies where a residual tumour continues to be an issue. Real-time tissue analysis allows the surgeon to remove a whole tumour in one operation and minimise the resection of healthy tissues. The patented technology (TRL 6) allows safer and more cost-effective cancer surgery and is scalable to most soft-tissue surgery. The unique device allows the surgeon to analyse the operated tissue in real-time during cancer surgery leading to optimal tissue removal. There is a global economy-justified need for real-time analysis in surgery. The Olfactomics device is fully aligned with current clinical workflow and instrumentation. It can be efficiently implemented to 835 000 breast surgeries every year, and it is scalable to multiple other areas. The commercialisation is targeting to 250 M€ revenue by 2027. The core team has the enthusiasm and knowledge needed for the commercialisation: team members are specialists in surgery, clinical medicine, medical technology, software, data analysis, financial sector and corporate law and have excellent connections in the international healthcare industry. The aim of this feasibility study is to analyse the feasibility from different perspectives and detail the business plan for the global commercialisation of the technology. The first commercial product will be a research device launched 2019. The scale-up to medical device and applications on several surgical areas will follow.

2018