TSLP winner Marginum increases the efficiency of cancer surgery

What does Marginum do?

Marginum Ltd is a medical technology company founded in November 2020 which has its roots in the interdisciplinary cutting-edge research of the University of Eastern Finland, the Department of Neurosurgery of Kuopio University Hospital and the Eastern Finland Microsurgery Center. We work with industry-leading academic and clinical experts to ensure the cost-effectiveness of our solutions.

Marginum’s technology increases the efficiency of cancer surgery with fluorescence-based monitoring techniques. The research-driven invention emerged from the need to develop more effective tissue recognition techniques for the surgical treatment of tumours. Market entry for the first product, the smart tissue monitor, is pursued exceptionally fast, within three years.

Marginum’s idea originated from the need to develop new methods for tumour surgery, the number of which is estimated to increase dramatically in the coming years due to the aging population. Accurate tissue identification is one of the industry's biggest challenges, and the treatment outcomes are often quite inconsolable. Despite supporting methods, contemporary fluorescence-guided surgical techniques are limited by their complexity, subjectivity and ergonomy, resulting in cancer recurrence, decreased patient safety, suboptimal care, and mounting healthcare costs.

The company’s core technology utilises tissues’ emitting glow i.e., fluorescence to locate cancer and can identify it many times more accurately than the human eye seamlessly improving the surgeon’s decision-making and performance. The scalable technology is expected to make a significant contribution to the detection of cancer cells — with the aim of efficient and safe total tumour removal during the first operation, decreasing the need for reoperations and harm to the patient.

What motivated you to apply for the 2022 Tahko Ski Lift Pitch?

We felt that participating in the competition would provide opportunities to increase the company’s regional visibility. In addition, growing networks in the form of possible new investors and collaboration contacts were one of the factors that encouraged participation.

What kind of expectations did you have?

The event met our expectations. It was particularly rewarding to connect with founders of other promising start-ups and exchange experiences. After Marginum won the main prize in the pitching competition, we also got the opportunity to be featured at the Nasdaq tower in New York Times Square, which was a milestone for the company.

Has funding, further discussions or new investor contacts materialized after the competition?

After winning the competition, we received several new contacts from potential investors and business partners. Our company has progressed systematically towards a successful market entry, and the contacts materialized through the competition further contribute to reaching the set goals.

What plans does Marginum have for the future?

In the near future, we plan to start clinical testing for our device to achieve the CE mark and, as well begin the preparations for the FDA investigation and randomized clinical trials. We also plan to hire the first person from outside the company as a full-time employee to our team. 

What was the €10 000 prize money used for?

The awarded prize money was allocated to product development, which has since progressed admirably. The results obtained with the initial prototype versions have been promising. We have also presented our device to both domestic and foreign end-users and the received feedback has been distinctively positive. Our team has continued the development work with a calm mind.

How would you encourage research teams who are thinking about commercializing their own research?

It is highly recommended to investigate the possibility of commercializing an idea or invention. At times, academic research and commercialization are considered as separate entities however they have a significant mutually supportive impact. For example, with regard to our company’s deep technological innovation, it is critical that research findings can be verified reliably. Coordinated publication of research articles in peer-reviewed scientific journals supports commercialization which in turn increases the significance and weight of the research. If the commercial possibilities of the invention are not considered to a sufficient extent, it is possible that its benefits will never be transferred to practice. For questions concerning the commercialization of research, it is a good idea to contact e.g., your local university’s entrepreneurship and innovation services.

To whom would you recommend participating in the Tahko SLP event?

We warmly recommend Tahko SLP participation to everyone interested in the start-up scene. The event is an excellent place for networking and bringing together start-ups, investors and experts. In connection with pitching and related events, you can also try out the Tahko skiing slopes. 

How should you prepare for a pitching competition?

Naturally, each team knows best its own strengths and how to present them, but we believe it’s important to demonstrate product/market fit i.e., to show that the company is able to solve a big enough problem in a systematic and scalable manner in the desired market. In the pitching slides, it’s preferable to focus on the visual side of the presentation and avoid bullet points. 

The original full article in Finnish can be read at Kuopio Chamber of Commerce journal.