David Stein, CEO of Babson Diagnostics, discusses the importance of blood testing, how Babson differs from Theranos, their success, using a tiny amount of blood, fighting against the Theranos effect, and the new age of biological data.
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Quick takeaways
Babson Diagnostics aims to revolutionize blood testing by using a finger prick device, eliminating the need for larger blood samples.
Babson's partnership with BD ensures the reliability and effectiveness of their finger prick device, making it a potential game-changer in the diagnostics industry.
Deep dives
Babson Diagnostics: Delivering on the Promises of Theranos
Babson Diagnostics is a company that is about to fulfill what Theranos promised years ago. Using a little finger prick device, Babson can perform a variety of diagnostic blood tests, eliminating the need for larger blood samples. This breakthrough innovation has been in development for over eight years and has recently received key FDA approval. The company's partnership with BD has resulted in the creation of a device that collects a small and reliable blood sample, ensuring high-quality results. Babson aims to make blood testing more accessible and less traumatic, replacing traditional vials and needles with an easier and more efficient process.
The Significance of Babson's Innovation
The traditional method of collecting blood samples has not changed in over 70 years, leading to a need for innovation in this area. Babson's finger prick device offers a solution that maximizes the clinical utility of a smaller blood volume without sacrificing quality. By automating the sample collection and processing, Babson aims to simplify and streamline the blood testing process, reducing the fear and discomfort associated with traditional methods. Their partnership with BD ensures the reliability and effectiveness of the device, making it a potential game-changer in the diagnostics industry.
Reducing Friction in Healthcare
Babson's innovation tackles the issue of reducing friction in healthcare. By making blood collection easy, convenient, and less traumatic, Babson aims to encourage more people to undergo routine blood testing. With routine testing being the most utilized medical intervention, Babson's approach holds great potential for improving public health. The company's focus on integrating with existing medical practices, utilizing standard reimbursement codes, and partnering with established players in the healthcare industry demonstrates their commitment to disrupting the current system in a seamless and comprehensive manner.
The Future of Blood Testing and Beyond
Babson's breakthrough in blood testing opens up possibilities for further advancements in healthcare. By leveraging technology and data, Babson envisions a future where blood testing becomes a regular part of proactive health management. The integration of multiple data sources, such as full body scans and liquid biopsies, can provide a more holistic view of an individual's health. This comprehensive approach, along with reducing the fear and inconvenience associated with blood testing, has the potential to empower individuals to take charge of their health and drive positive outcomes.
The Sunday Times’ tech correspondent Danny Fortson brings on David Stein, chief executive of Babson Diagnostics, to talk about the importance of blood testing (4:49), why Babson is not Theranos (6:47), trying to compete with that idea (9:26), why they succeeded where Theranos failed (14:34), using a tiny amount of blood (18:23), fighting against the Theranos effect (24:37), being owned by a company they aim to disrupt (26:28), liquid biopsies (28:02), the new age of biological data (32:23), regulatory approval (37:09), and avoiding the spotlight (39:03).