Upcoming market entry: Pfizer opens up part of its sales structure to the startup Cortrium
The Danish startup, Cortrium and Pfizer Germany have today announced their intention to work together to launch a new product on to the German market in early 2018: namely, a portable sensor that measures vital signs. Developed by Cortrium, the sensor can, for example, measure heart activity and provide early indications of potential cardiovascular diseases. Pfizer will open part of its sales structure up to Cortrium. The sales partnership is the first of its kind for the Pfizer Healthcare Hub Berlin, which aims to develop digital solutions that will complement existing therapies and products.
The agreement between Pfizer and Cortrium makes provisions for around twenty members of Pfizer’s specialized sales personnel to present the device during their discussions with doctors. If doctors decide to buy a device, then they will settle their sales agreement with Cortrium directly. In the run-up to this, sales personnel will receive training from Cortrium on how the device works. Pfizer and Cortrium have made plans to market the device with approval as a medical product in early 2018.
Cortrium’s sensor is attached to the skin with adhesive pads and will initially be used to measure and record ECG data. The sensor will later be clinically approved to measure several other vital signs, such as activity, respiratory rate, body position, and temperature, with capabilities to either save this information or transmit it wirelessly to mobile devices, such as iPhones. Pfizer is committed to providing better provision for strokes, offering innovative medication and researching new treatment approaches in this field. The collaboration allows Pfizer to continue to work on improving the situation for people with cardiovascular diseases in Germany. “The process of diagnosis will be much quicker and more comfortable for patients”, explains Peter Albiez, Country Manager of Pfizer Germany and Head of Innovative Pharma in Germany. He goes on to explain: “The agreement that has been made will benefit both companies. We at Pfizer can help doctors to discover and treat the risks associated with atrial fibrillations much more easily, whilst Cortrium benefits from our established sales structure.”
“In Pfizer, we are delighted to have found a partner that will support us with the launch of our product in Germany”, adds Erik S. Poulsen, Founder and CEO of Cortrium. “Pfizer’s existing sales structure enables us to firmly gain a foothold in the German market. We don’t just benefit from the structures and the network, but also from the expertise of our partners at Pfizer.”
The collaboration between Pfizer and Cortrium has been in effect since January 2016. The Danish startup uses workspace at the headquarters of Pfizer Germany in Berlin, and is supported by members of the Pfizer team in their preparations for market entry.
About the Pfizer Healthcare Hub Berlin
The Pfizer Healthcare Hub Berlin forms an important link between Pfizer Germany and founders and startups in the health sector. Founder teams work in close collaboration with Pfizer to develop digital solutions that represent a meaningful complement to therapies and products, for example, in diagnostics or in the monitoring of health data. Pfizer’s support of startups is carried out on an individual basis, and includes mentoring sessions from Pfizer’s network of experts, office space, and sales partnerships.
The Pfizer Healthcare Hub Berlin was founded in 2014 under the name “Berlin Healthcare Lab”. Since its founding, Pfizer Healthcare Hubs in New York, London, Stockholm, Sydney, Tel Aviv, and Toronto have all followed the example of the Berlin Hub. At the moment, the Berlin Hub is working with the startups Cortrium, Viomedo, and Mediteo, among others.
Headquartered in Copenhagen, Cortrium builds portable sensors that measures vital signs such as heart activity, respiratory rate and temperature. The sensors can transmit this information to mobile devices via Bluetooth, or store it for longer periods. In the event of any irregularities or deviations from the target values, doctors and patients will be able to quickly take counter-measures in order to detect severe conditions early on and to prevent diseases. The sensors attach to the chest with standard adhesive pads. The devices will also be suitable for sleep analysis, measuring activity levels while exercising, and for transmitting information about the patient’s body position. Cortrium’s ground-breaking technology can lead both doctors and patients towards the early discovery of the risk factor of atrial fibrillation, helping them to treat it on time. Initially the Cortrium device will be approved for clinical use as an ambulatory ECG monitor, called the “Cortrium C3 Holter Monitor”.