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InventionMed, operating in the medtech sector, received a permit and grants worth PLN 16m for the construction of the VR and AR Innovative Medical Simulation Center in Bydgoszcz. The facility will be tasked with developing exercise simulators for doctors in the form of a “virtual hospital” demonstrator. The center will be erected on a property of a 2,072 m2, purchased by InventionMed in 2020. The facility will stretch over 5 floors and a total area of 3,000 m2. The total amount allocated for the entire investment comes up to PLN 29.5m.
Simulations created by the Center will make it possible to test new technological solutions and medical simulators using VR (virtual reality) and AR (augmented reality). The Center will conduct research and development work on innovative product solutions in the field of medical and rehabilitation simulators using AR technology and double immersion technology: a method created to engage multiple senses in simulation in order to properly prepare the medical personnel for the real-life situations that can occur while performing treatment.
Medical students will be trained not only in areas such as dermatology and aesthetic medicine, but also in cardiology, cardiac surgery, neurosurgery, surgery, geriatrics, anatomy, and neurological rehabilitation.
To this end, InventionMed plans to expand its staff by hiring programmers, IT specialists, as well as developers and specialists in the field of medicine, whose task will be to test device prototypes.
The company is currently experiencing financial difficulties due to the pandemic that is delaying the commercialization of its products. Additionally, commercial activities aimed at dermatology and aesthetic medicine clinics in cooperation with foreign partners are a long-term process that does not yet translate into financial achievements.
However, currently, as Tomasz Kierul, President of InventionMed, explains, the priority is to build the center and achieve profitability. The company also believes to soon reach financial independence. One of the means employed to achieve this goal is the newly-developed proprietary TutorDerm system, which uses VR to map medical procedures performed in cases of dermatological afflictions. For this purpose, the company obtained PLN 3 million in subsidies from the Kuyavian-Pomeranian Marshal’s Office.
InventionMed was previously known as Athos Venture Capital – it has been operating on NewConnect under its current name since the beginning of 2018. In 2019, the company took steps to transfer its listing from NewConnect to the GWP main market; these proceedings were suspended, however, in July 2020.