About

1st Product - The conventional solutions for fractures are plaster casts. Casting procedure is a time consuming and messy process for the doctors. The casts cannot be reused and although their price is low the required time for the overall treatment and healing process of the patient is high. Right now thermoplastic solutions are only being used for rehabilitation purposes. 2nd Product - Bracing is currently the primary method for treating moderate idiopathic scoliosis (IS) during the developmental phase of growth. Accurate evaluation of patient compliance with scoliosis brace usage has been a challenge for physicians treating patients with IS. This inability to accurately measure compliance has resulted in difficulty in determining brace treatment efficacy.

Solution & Product

1st Product - Splints for fractures AidPlex’s splints are a lightweight alternative that can be used for fractures and rehabilitation, thus extending significantly the applicability of the proposed solution. AidPlex’s splints are ready for use anytime needed. How it works Unlike common casts and splints, AidPlex splint is a thermoplastic splint that is ready for use anytime needed. The heating procedure takes only 2 minutes with a thermogun or hot water and the application of the splint 5 minutes, making the procedure of splinting much faster. 2nd Product - System for Monitoring of Scoliosis AidPlex is offering a smart wearable device for monitoring scoliosis of patients treatment with a patient management system for clinicians. Patients through this telehealth system will wear their backbrace for the prescribed time and this can lead to better curve correction at the end of the treatment while decreasing the possibility of having a spinal surgery.

Innovation & Scalability

1st Product - Splints for fractures Splits are not custom-made, but they can fit the unique skeletal characteristics of the patient’s injured body part. This feature saves significant time spent by doctors and nurses which could be used more efficiently. With AidPlex, healthcare professionals reduce their costs and limit their inefficiencies, whilst patients are provided with an excellent quality splint. Finally, AidPlex’s splints are designed to be part of the circular economy framework, as they are based on recyclable and biodegradable materials. 2nd Product - System for Monitoring of Scoliosis Patients through this telehealth system will wear the backbrace for the prescribed time and this can lead to better curve correction at the end of the treatment while increasing the possibility of avoiding spinal surgery. Gamification also improves their quality of life, while making the treatment a more pleasant experience. They feel responsible about their treatment outcome and that they are in control of it. Patients’ family will be assured that the prescribed treatment for their child will have the expected outcome. Following with clinicians, they have a better overview about their patients’ progress and compliance. Having a 24/7 data feed for the patients, they can determine the outcome of the treatment before having a predetermined appointment (e.g. appointment every six months).

Traction & achievements

For the past two years, AidPlex has raised a total of 150,000€ non-dilutive funding from 2 EC Grants (iProduce Grant- H2020, Proof of Concept Grant from Patras Science Park) and 1 grant from The People\'s Trust. In addition, AidPlex was the winner of several startup competitions (MIT Enterprise Forum Greece 2019, Mindspace Challenge 2018, Ennovation, Startup Weekend Kavalas, EcoCity Forum by AZK). Until now, AidPlex has Researched and Developed two medical devices, which are projected to enter the EU market by 2022. AidPlex\'s first product is an eco-friendly, reusable and recyclable thermoplastic splint for fractures. An observational study will be rolled out by the end of 2020 and AidPlex Splint will be ready for market launch, targeting EU5 & US, starting from Greece and Cyprus as test markets. In the previous two years, AidPlex has acquired CE mark and has also filed a Full patent (US20200009288A1) & a PCT application (WO2020008253A1) to the USPTO and WIPO.

Team & Why Us

AidPlex was founded by Harry Yeremtzes and Dimitris Moustakas 2 years ago and is operating in Thessaloniki, Greece. It has opened 3 jobs for engineers and also provided paid internship opportunities for three students of Greek Universities. One of those interns was hired one year ago and became the CTO of AidPlex. Now the core team consists of 5 Engineers, 3 Business Advisors and 2 Scientific-Medical Advisors. As a greek startup AidPlex is focusing on international markets for commercializing its products but operating in Greece, helping in that way the local ecosystem of startups grow but also helping the economy of Greece rise. AidPlex team is confident that the commercialization will first focus on the EU and USA due to lower barriers to entry. Once CE-mark is achieved, commercialization will start from Greece and Cyprus, as test markets (2022). After achieving first paying customers, AidPlex is going to start operations in EU5. At the same time, AidPlex will start the FDA process for future expansion in the US.

Funding Needs

AidPlex, is ready to announce a new funding round from Greek angel investors, who live in the US, UK, and Germany, and a VC.