VERIPHI SAVES LIVES

Veriphi has developed a laser-based analyser that minimises the risk of death and injury due to intravenous medication error in hospitals. The proprietary laser technology automatically verifies the drug identity and concentration as it is compounded or administered, providing greater safety by fitting seamlessly into existing clinical practice.
Medication error is one of the most common causes of patient harm in the hospital system, costing billions of dollars and thousands of lives globally.

Hospitals are being increasingly challenged to safely deliver drugs to patients due to the growing number and potency of drugs being administered and the aging profile of the hospital patients, for whom the consequences of errors are more severe. The complexity of the task is increasingly too challenging for procedural control or manual systems alone to ensure medication safety. Intelligent autonomous systems are required to safely monitor and verify the delivery of high-risk intravenous drugs. Veriphi ‘s revolutionary analyser addresses these issues by confirming the identity and concentration of IV drug’s before they reach the patient thus preventing medication errors.

Medication error is one of the most common causes of patient harm in the hospital system, costing billions of dollars and thousands of lives globally.

Hospitals are being increasingly challenged to safely deliver drugs to patients due to the growing number and potency of drugs being administered and the aging profile of the hospital patients, for whom the consequences of errors are more severe. The complexity of the task is increasingly too challenging for procedural control or manual systems alone to ensure medication safety. Intelligent autonomous systems are required to safely monitor and verify the delivery of high-risk intravenous drugs. Veriphi ‘s revolutionary analyser addresses these issues by confirming the identity and concentration of IV drug’s before they reach the patient thus preventing medication errors.

Find out more about the Veriphi technology and business goals.

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Veriphi Technology

The analyser passes a laser beam through the drug in a proprietary single-use cuvette. The software compares the recorded drug signature to that of a known library of drugs to determine if the drug is what the clinician intended. If it is not, the analyser raises an alarm notifying the clinician and protect the patient from harm. Veriphi’s solution will reduce injury, isolate problem areas and create greater transparency for IV medication delivery.
Verification of IV drugs is difficult due to the small spectral differences between drugs in solution. As a result, Veriphi’s technology breakthroughs are recognised by 21 granted global patents including 7 granted US patents.

Veriphi Technology

The analyser passes a laser beam through the drug in a proprietary single-use cuvette. The software compares the recorded drug signature to that of a known library of drugs to determine if the drug is what the clinician intended. If it is not, the analyser raises an alarm notifying the clinician and protect the patient from harm. Veriphi’s solution will reduce injury, isolate problem areas and create greater transparency for IV medication delivery.
Verification of IV drugs is difficult due to the small spectral differences between drugs in solution. As a result, Veriphi’s technology breakthroughs are recognised by 21 granted global patents including 7 granted US patents.

Medical errors are the 3rd leading cause of death in the US4


0

US Deaths per annum from medication error1


0
NZ patients are permanently disabled each year2

$0m
is spent annually in NZ from preventable, adverse drug effects (NZD)

$50.6B

medication error cost in the US each year (USD)3


Medical error is the 3rd leading cause of death in the US4

With over $8m invested into Veriphi, we’ve accomplished a lot...


Testing

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Veriphi is conducting trials a several New Zealand hospitals, prior to securing commercial supply agreements. It has reached out to other hospitals in New Zealand and the United States; following a visit to the Texas Medical Center in Houston in March 2018.

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Patents

Veriphi has 7 US patents, with 14 granted in other overseas jurisdictions including 2 in China.

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Customers

Veriphi is currently commencing a 3 month free trial at a New Zealand hospital for a range of drugs. These drugs have been selected by Veriphi & the hospital on the basis that they are within the current capability of the analyser. This is part of a programme to engage up to 4 NZ hospital pharmacies in free trials on selected drugs over the next 6 months. This will provide proof of concept data to support commercial sales.

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Performance

Since 2016, we have reduced drug verification time from 100 seconds to 10 seconds. We are currently working to reduce this to 5 seconds.

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Analysers

Veriphi currently has 7 commercial analysers being tested.

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Staff

We have grown from a team of 3 full time equivalent employees (FTE) in 2016, to 8 FTEs in 2019.

Veriphi's Game-Changing Technology

Veriphi has developed a ground-breaking laser-based analyser that minimises the risk of death and injury due to intravenous medication error in hospitals. The Veriphi system works by using lasers to automatically verify the drug identity and concentration.

Download the Veriphi Information Memorandum.

Find out more about the Veriphi capital raise.

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Veriphi Team

  • Roger Lampen
    Roger has extensive experience as an entrepreneur, investor and director in various sectors, including staff recruitment, healthcare and medical technology. Roger is currently Chairman of Veriphi and a major investor in the company. He was until recently, Chairman of Geneva Healthcare.
  • Greg Shanahan
    Greg is Managing Director and Cofounder of Veriphi. He has nearly 30 years of experience in technology development, operational and marketing roles in New Zealand and the US. He is also the founder of Technology Investment Network, publisher of the TIN Report, New Zealand’s leading annual quantitative report on the technology export sector.
  • Gavin Mitchell
    Gavin is a business strategy and market development professional. He is a Founder and Director of business consultancy nVision. Previously he was Commercial Manager at Industrial Research Ltd (now Callaghan Innovation). Gavin has held senior roles with Jade Software Corp and Spectrum Resources.
  • Jason Bloom
    Jason is the CFO for global apparel company Icebreaker. He is a finance and strategy professional with twenty years of experience, including Equities Research for Investment banks Deutsche Bank and UBS. Jason has had operational roles at RACQ, Air New Zealand, and consulting work for his own company Decision Lab.
  • Dr. Ray Simpkin
    Ray has a PhD in physics from the University of London. He is the lead scientist for Veriphi, responsible for Veriphi’s system design and evolution. Ray is a senior scientist with Callaghan Innovation and has been working with Veriphi since 2010.
  • Dr Kyle Pennington
    Kyle is responsible for all technical elements of product development, including electronic, mechanical, and software design and development. He has expertise in designing and building precision measurement devices from concept to production. He holds a Bachelor's degree with first class honours and a PhD in Electronic Engineering from the University of Waikato in New Zealand.
  • Natalee Taylor
    Natalee is Veriphi’s In-house IP Manager. Natalee has a science degree, is a qualified lawyer and a registered patent attorney. She has extensive experience as a Solicitor/Patent Attorney for a large New Zealand IP Law Firm as well as IP Management roles for a range of exciting New Zealand technology companies.
  • Tom Boyens
    Tom is a Product Development Engineer at Veriphi. He has a Bachelor of Engineering Honours in Biomedical Engineering from Auckland University. Tom is responsible for managing Veriphi’s product performance and testing programmes with partner hospitals.

Team Updates

Leadership Team

Key Target Performance Milestones

  • March 2018
    Veriphi visits Texas Medical Center in Houston, the largest medical complex in the world.
  • August 2017
    First off-tool production of Veriphi commercial IV consumable.
  • July 2017
    Veriphi conducts first round of hospital trials.
  • June 2017
    Veriphi signs research agreement.
  • February 2017
    100% success in 100 blind trials conducted on 10 anaesthetic drugs using 3 different containers and training data collected at 3 different temperatures. The testing time was reduced from 100 seconds to 10 seconds and extensive changes made to cuvettes, hardware and software in preparation for commercial release.
  • February 2016
    100% success in 40 blind trials conducted on 10 anaesthetic drugs using 4 different containers and training data collected at 3 different temperatures over a week.
  • October 2015
    Successful randomized blind trials on 15/15 common anaesthetic drugs in single container.
  • September 2015
    Transfer of algorithm into software code.
  • July 2015
    Indicative results on fast verification times.
  • May 2015
    Indicative results on verification of 4 drugs in concentrations from 1 to 10%.
  • April 2015
    Indicative successful use of the mathematical model for verification of 10 drugs in multiple containers.
  • July 2014
    The successful verification of 30/31 drugs in a single flow cell in randomised blind trials.
  • September 2013
    Achievement of repeatability targets required to expand the drug set.
  • December 2012
    Indicative success with randomised blind trials on 10 drugs. Poor repeatability.

FAQ


"An anaesthetist will inject over half a million drugs during their career. The potency of these drugs means that life threatening errors can occur.

Evidence shows merely encouraging professionals to be vigilant does not eliminate patient harm. Safeguards need to be place in the system to reduce these events."

-Dr. Kerry Gunn, Specialist Anaesthetist

"An anaesthetist will inject over half a million drugs during their career. The potency of these drugs means that life threatening errors can occur.

Evidence shows merely encouraging professionals to be vigilant does not eliminate patient harm. Safeguards need to be place in the system to reduce these events."

-Dr. Kerry Gunn, Specialist Anaesthetist