Wednesday, December 10, 2008

Invention in Medicine: How Medical Devices get Invented and Go to Market


with Art Wallace M.D. Ph.D.
December 10, 2008, Room 207

Dr. Wallace started out in experimental surgery and radiology studying imaging of the heart using CT scanners. He has worked on a number of devices that originally were built for experimental studies that evolved into clinically useful devices including a cardiac output monitor, the off pump CABG, off pump aneurysm surgery, electronic sedation, and a selective coronary vasodialtor. Dr. Wallace will explain his experiences with the inventive process using examples from both device design and drug development. There will be a brief discussion of the importance of intellectual property, patents, venture capital, FDA approval, and business development in completing the invention process.

7 comments:

Jessy said...

I really found it interesting that you couldn't just think of something and invent it, but you had to do lots of planning and spend lots of money and even find sponsers to fund you! I often think of little things that would be nice, but never have any idea at all how to invent them(such as a waterproof ipod case -i swim a lot-) I also found it funny that global warming has been around since 1967, but hasn't become so well-known until abour 1995. I learned "universities don't listen" XD

dhostrupmcms said...

It takes a long time for an idea to become aceptted. It costs a lot to develop an invention. Think tanks don't really work, universities are good at not listing. It takes many tryes to get the one good selling product

danielDB said...

It was a very informing seminar. It was my first ime and i found it very interesting. It was good to learn the process of making an invention like how long it takes and how expensive it can be for research and development. There were lots of funny aspects like how universities like to help but don't.Plus, making an invention also proves that patience is a virtue. Overall, it was a good learning experience

Cat said...

Dr. Wallace's came to me as a big surprise! It helped me understand the process and many steps it takes to arrive at final products and the testing involved to do so. Many people, including me really do not realize or ever ponder about how many tries it took for the inventor of all the appliances around us to arrive at that exact design or model. Seeing the image of those (approximately) fifty tubes with all different designs hoping to find the perfect one exemplified my discovery most precisely. After seeing that brief clip of that man watching movies during his surgery as a distraction aid, it was then where it came to me that medical devices go beyond your basic "fix the targeted hurt spot with this new invention" type of thing.

Kaushik said...

This presentation was very informative of not only the creation of a product, but also the economy. I didn't know it cost so much money just to make like a plastic toy. I really wish that the cost be less because of the poor may have really good ideas on how to make this world better. It seems that it takes many tries to make a product to last well. Also, it is crazy on how 9 out of 10 investors fail at your product!

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petrenkov said...

It was certainly interesting for me to read this post. Thanks the author for it. I like such topics and everything connected to this matter. I definitely want to read more soon.

Sincerely yours
Jeph Normic