The CE mark is in place, and now the private digital market is next for the medtech company.

SKØYEN, OSLO (MedWatch): Medtech company Otivio is on a strong trajectory as it moves toward commercializing its pressure boot, Flowox, designed for multiple sclerosis (MS) patients. The company recently received CE marking for Flowox, indicating its approval for use with MS patients. Furthermore, promising results have been noted regarding the treatment of spasticity in MS patients.

Flowox treats one leg at a time, but according to CEO Andreas Mollatt, its effects are observed throughout the entire body. 

“We likely trigger sensors in the nervous system, which leads to muscle responses across the body. Flowox also affects certain internal muscles, such as the smooth muscles around the bladder,” Mollatt explains. “As a result, we have observed improvements in bladder control in several patients.”
Otivio aims to address the spasticity symptoms experienced by MS patients. Mollatt emphasizes the current unmet need for effective treatments in this area. The company intends to fulfill this need initially by marketing through the private sector. 

“In the long term, our goal is to make treatment accessible to everyone, regardless of financial situation, through reimbursement,” Mollatt states.

A Seeking Patient Group

Mollatt notes that the average age for MS diagnosis is 36, with women being more affected than men. 
“Approximately 2 out of 2.9 million MS patients globally reside in North America and Western Europe—markets we can relate to,” he says. “The patient group is young, organized, and actively seeking better treatments.”

“They are organized through the MS Society and various private groups, sharing information and looking for improved therapies,” Mollatt adds. Obtaining reimbursement for this treatment will take time, so when it enters the market, it will adopt a fully digital model aimed at private users.
“This means we will reach our patients through social media, encouraging them to visit our landing page, where they can take a brief test to determine their eligibility for Flowox. In Norway, those who qualify will receive a referral for a consultation at Klinikk for Alle, while in Denmark, they will have access to a video consultation,” Mollatt explains. The launch in Denmark will be in collaboration with Rigshospitalet in Copenhagen.

Initially, patients will have access to the device for four to six weeks. If they experience benefits, they can opt for a subscription model.

“First and foremost, this is about generating short-term revenue, but more importantly, it’s about creating real-world evidence that we can leverage when advocating for reimbursement,” Mollatt says. Otivio has already conducted a small pilot test of the advertising strategy it plans to use for marketing Flowox.

“We ran a campaign on Facebook and YouTube, along with outreach to several private MS groups on Facebook. Our plan is to enter Norway in the third quarter and Denmark in October. Following that, we’ll expand to Sweden and Finland. Our goal is to demonstrate that we can penetrate the Nordic market and use it as a blueprint for further expansion,” Mollatt concludes.

Potential Partnerships?

When asked about potential partnerships, Mollatt responds, “Up until now, we may have been a bit early for them. What we achieve in Scandinavia will serve as leverage for further partnerships in other European and American markets.” Research chief Iacob Mathiesen notes that established medtech companies tend to market differently than the direct-to-patient approach Otivio is pursuing.

“They have more traditional methods of selling to hospitals, while we are connecting directly with patients,” Mathiesen explains. Mollatt anticipates that the company will eventually be propelled by larger partnerships or an acquisition. 

“As a small organization with seven employees, we can’t take this global on our own,” he adds. “It’s bold enough to believe we can do it in Denmark,” Mathiesen adds. “But we believe we can make it happen.”

Seeking 30 to 50 Million NOK

By the end of 2023, Otivio had 7.5 million NOK in its accounts, while operating costs totaled 32.7 million NOK that year. Mollatt indicates that fundraising is a constant necessity for a company like Otivio: 

“In the coming six months, we plan to raise an additional 30 to 50 million NOK, which will bridge us to a Series A round that we expect to initiate in about a year and a half,” he states. Before the Series A round takes place, Otivio aims to gain valuable insights from the digital marketing platform they are investing in, along with data to support their efforts and to learn from any mistakes made.

The patent for the MS indication was filed in 2019 when they discovered Flowox’s benefits for this patient group, granting Otivio 15 years of remaining patent life, which Mollatt describes as “unique.” 

If you would like to know more about our progress or our product, please contact us at info@flowox.com