Saving Lives with Miraqules: Stopping the bleeding in the Hemostatic Market
Hemorrhage is a leading cause of death and injury across the globe, and the lack of effective solutions for controlling pre-hospital bleeding has remained a pressing problem.
In 2018, Miraqules, a biomedical startup, set out to solve this problem with the development of fast-acting anti-bleeding compounds for rapid control of hemorrhage.
The company has been backed by national and international organizations, and has received a non-dilutive funding of around INR 1.6 crores ($210K) and a dilutive funding of INR 3 crores ($400K).
StopBleed, the first product of Miraqules, is expected to be launched by Q2-23 after being validated for safety and efficacy as per USFDA regulations. The product has already been recognized as the best hemostatic technology by the DRDO in 2019 and has received LOIs for post-approval piloting from Indian and Israeli Defense forces.
StopBleed is an artificial fibrin, developed via Miraqules’ patented process using different biomaterial proportions. It is almost 5 times more effective than the existing hemostats and works with people having blood clotting disorders, making it a suitable anti-bleeding compound in laboratory conditions.
The technology has been patent protected in 8 regions including India, US, EU, Canada, China, Australia, Japan and Israel. StopBleed will be introduced in the market in multiple variants to suit the different application requirements of customers and will be broadly distributed over B2B, B2G and B2C segments.
Miraqules is in the process of setting up a production facility, capability building and QMS implementation, and is also expanding its product portfolio to cover all the application areas of a hemostatic agent starting from superficial to surgical wounds.
The company has received numerous awards and recognition like Deep Tech Pioneer startups by Hello Tomorrow 2022, Top 4 Finalists, MedTech Innovator APAC 2021- $10K, and Winner of Y Combinator sprint grant 2020, $10k. Miraqules has also been featured in the world's top 500 deep tech startups by Hello Tomorrow 2018 and has won grants like BIRAC Seed Fund 2020 - INR 25 Lakhs, Product Development Grant, Government of Odisha, 2020 - INR 15 Lakhs, and MassChallenge Platinum Winner'2019 - 100K ILS (Israeli Shekel).
The company has to scale multiple aspects on its journey to growth right from manufacturing and commercialization to managing the regulatory requirements.
The founders, Sabir Hossain, Dr Mubeen Midda, and Dr Devendra Verma, are determined to make a difference in the healthcare industry with their product.
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