Improving patient outcomes
by increasing medication accuracy
Veriphi is an innovative medical device company whose objective is to make intravenous cancer therapy safer and more effective.
The Veriphi Solution
The Veriphi Flushing Analyser, “Ada”, is our first commercial product and uses lasers to verify the identity and concentration of intravenous drugs to prevent patient harm from medication error. Its first commercial application will be in compounding pharmacies, where IV drugs are prepared, to strengthen quality assurance systems.
The vision for the next generation product is a miniaturised analyser that can be used at the patient bedside, either in the hospital or community setting, including remote areas.
Our analyser is the keystone to a hardware-enabled, cloud-based medication management solution.
Veriphi Flushing Analyser
The Problem
Globally, the cost associated with medication errors has been estimated to be US$42 billion per year.¹
The Global Trend - Hospital At Home
Veriphi’s goal is to enable safe and effective administration of oncology drugs to cancer patients wherever they might be as the world moves from hospital-centric to patient-centric models of care. A catalyst for change, the COVID-19 pandemic has led to a review of hospital treatment of patients, both for those with the virus and those typically requiring hospital treatment. The ‘hospital at home’ model has been expedited worldwide and in recent years, a handful of US systems have launched such programmes. These join already firmly established models in the UK, Australia, Canada, Israel and other countries with government-run health systems.²
Focus on Oncology
Veriphi’s initial focus is IV oncology treatments because we believe this area will provide the greatest opportunity to improve patient outcomes. Intravenous errors are twice as likely to harm patients than drugs administered by other means,³ and chemotherapy errors occur at a rate of about one to four per 1,000 orders and affect at least 1 to 3% of adult and paediatric oncology patients.⁴ The consequences of oncology errors can have a more significant impact than other medications.
Sustainable Competitive Advantage
A comprehensive global patent portfolio protects our first-mover advantage with eight US patents granted.
¹ WHO, Global Patient Safety Challenge: Medication Without Harm 2017.
² Transforming care, Has the Time Finally Come for Hospital at Home? The Commonwealth Fund, July 2020.
³ American Journal of Health-System Pharmacy 2008.
⁴ Weingart N et al. Chemotherapy Medication Errors, The Lancet, 2018.
