Maxima Biotech Inc.(Stock Code:7608)
Impact and Insights
Gold Medalist under dominance, Accelerating the Diffusion of Innovative Medical Devices
Hung Yi-ping, chairman of Maxima Biotech, pointed out that it takes 20 years for an innovative medical device to mature. As a latecomer, Taiwan's Group B championship strategy will accelerate product innovation and market expansion.
Mr. Hong recalled that he was the agent of Ultracision, a start-up company that developed ultrasonic knife technology in 1992, but was questioned by many people at that time. It was not until 1995 that Ethicon acquired Ultracision and invested in product optimization that the market began to take off in 2005.
Mr. Hong believes that the time to enter the Group B champion is when the innovative products have been clinically verified and the market begins to take off after the products have stabilized and matured. At this time, the unit price of products is high due to the European and American supply chains. Maxima will use Taiwan's technological and medical advantages to establish a local R&D supply chain, quickly commercialize new generation products, and enter the minimally invasive surgery market with high-end medical materials of large factory quality and reasonable prices.
Dr. Tang, General Manager of Maxima, used the evolution of telephone from wired to wireless to smart to explain the concepts of public domain and paradigm shift. He pointed out that ultrasonic knife 55.5k Hz has entered the public domain and will shift the paradigm from wired to wireless.
Dr. Tang said that Maxima will continue to integrate Taiwan's technology and medical advantages to build independent capabilities for the localization of medical devices. It will build a plant in Taichung in 2024, and will also see Maxima's second-generation wireless ultrasonic knife. Maxima will create a new situation for Taiwan's medical device industry with the rapid commercialization of new-generation products and high-end medical devices with large-scale factory quality and reasonable prices.
Successful cycle of innovative medical devices
From the minimum viable product (MVP) entering the market at the fastest speed, to the market-product fit (PMF), getting customer feedback, and then optimizing (Pivot) the product's success cycle.
Taiwan Medical Devices: A Unique Opportunity for Quality, Innovation, and Cost-Effectiveness
Taiwan has unique advantages in the field of medical device manufacturing, which combines quality, innovation and cost-effectiveness. Our team at Maxima has extensive experience in the commercialization of medical devices, including Class III vascular closure devices and implantable biomaterials, Class II advanced energy devices, surgical robots and minimally invasive surgical consumables. By leveraging Taiwan's advantages in medicine, industry and supply chain, we successfully brought the wireless ultrasonic knife to the market in just three years. This fully demonstrates our ability to provide cost-effective one-stop solutions in the following areas:
1. Development and realization of products with market demand.
2. Contract development and manufacturing services (CDMO) for high-end products.
3. Establish a product innovation roadmap based on real clinical feedback.
Our commitment to innovation and excellence in medical device manufacturing has made Taiwan a global leader in healthcare. Looking ahead, we will expand our product portfolio, establish new partnerships, and create breakthrough solutions to address new challenges facing global healthcare.
Creating more medical options
In an aging society, we need more medical options. We need medical equipment with the same quality as international manufacturers but at a more reasonable price. Only Taiwan can do this. Using Taiwan's policies, industries, academia, and medical resources to form a collaborative ecosystem, and introducing Taiwan's R&D capacity can benefit all of humanity. We require doctors to save lives, and we must give them better tools, better images, and more worry-free surgical equipment. We hope that patients can receive comprehensive care, but comprehensive care is becoming increasingly costly.
Many of the equipment in the operating room are decades old. For example, the current electrosurgical knife was invented by William T. Bovie in 1920. The more practical ultrasonic surgical knife was invented by a new company, UltraCision, in 1988.
As technology has entered the AI era, how to accelerate the clinical application of technology and how to use Taiwan's advantages to create products with reasonable prices and quality comparable to those of large manufacturers are what we need to do in the long run. And we also believe that only Taiwan can do it.