Diabetes is on the rise worldwide according to the World Health Organization and it still limits people's life a lot. We talked to Thomas Wuttke, Founder and CEO of diafyt MedTech, whose aim is to make diabetics' life easier. Thomas Wuttke is one of six participants of the DC-HUB Shanghai Start-up Class 2018 spending a month in Shanghai this September.
Thomas, what inspired you to start diafyt?
With what we do, we can help 422 Mill people who have diabetes worldwide. Being a diabetic myself I was able to break down the needs of a diabetic. The opportunity to help so many people is a very good inspiration.
That's true. Which problems does diafyt exactly solve? And which products and services provides diafyt to solve them?
Diabetes is a metabolic disorder in the human body, where insulin supply is not or only partially functioning. All body functions need insulin. Absence or undersupply leads to organ damage, amputations and death. Treatment is by insulin injections where the diabetic does learn dosage calculation and application techniques. Often, however, the individual quantity determination is wrong, since the calculation is complicated with the resulting side effects.
For people with diabetes, diafyt MedTech is developing software that can determine the optimal insulin dosage. This makes it possible to automate diabetes management and simplify living with diabetes. Just call it autonomous driving for diabetics.
That would increase diabetics' quality of life dramatically.
Who are your main competitors? Which advantages do you provide compared to them?
Diabetes is a very lucrative market with a lot of big players selling products and services to diabetics. This includes Dexcom, Medtronics, Roche also Google. However, a working closed loop diabetes management system has not been invented despite millions of dollars spent for research.
We have developed a mathematical model that simulates the diabetic metabolism. This makes it possible to replicate the body functions and restore the natural control of glucose. Artificial intelligence learns individual habits and adapts perfectly to the lifestyle of the diabetic.
Our diabetes monitoring App is already released and translated in 4 languages, downloaded in 15 countries. The App can be downloaded from the Google Play Store. Features in the category of a medical device are planned to be released early next year after FDA certification.
Are you looking for further investments? If yes, what is the most important thing prospective investors should know about your company?
We look for further investments to finance our ambitious growth targets, market entry and product launch. With the next planned round we will reach 10000 users in 12 months and 1 Mill users in 30 months.
You are now going to Shanghai with DC-HUB. What do you expect from this trip?
In Shanghai we will meet with a potential Chinese partner to set up a business relationship for products and services benefiting both companies. There are meetings already scheduled with the chinese ministry of health, health insurance and chinese investors interested in our technology and products.
What are your main goals for the next 12 months?
Clinical trials and product certification e.g. FDA are our main goals. Further we will launch the product in at least one country with 10000 users on the system.
Thank you for the interview and have a successful trip to Shanghai!