About the Guest(s):Peter Vranes is the co-founder and CEO of Nutromics. With over 25 years of entrepreneurial experience, Peter previously took a skincare company from startup to a successful trade sale. Fascinated by health diagnostics, he shifted his focus to medtech. Alongside co-founder Hitesh Mehta, Peter is on a mission to revolutionize health diagnostics and patient outcomes through continuous biosensing technology. Under his leadership, Nutromics has raised $55 million and assembled a team of 60 experts in Melbourne and San Diego.Episode Summary:In this episode of Shape the System, host Vincent Turner speaks with Peter Vranes, co-founder of Nutromics, about revolutionizing health diagnostics to improve patient outcomes. Peter shares his journey from the skincare industry to pioneering technology in medtech. The discussion introduces Nutromics' innovative approach to continuous health monitoring through biosensors, aimed at transforming reactive healthcare into a proactive model.The conversation delves into the current state of patient diagnostics, emphasizing its inefficiencies and limitations. Peter illustrates how critical diagnostic markers often fluctuate quickly, making timely and continuous data crucial for effective treatment decisions. He explains how Nutromics' platform leverages DNA-based biosensors to provide real-time monitoring, thus addressing life-threatening conditions like heart attacks and sepsis with unprecedented accuracy and speed. The discussion also touches on the company's collaboration with top-tier universities and its future plans to extend the technology's reach from hospitals to everyday individual health monitoring.Key Takeaways:Legacy Diagnostic Systems: Today's healthcare heavily relies on blood draws that provide single data points, often delayed, for over 70% of clinical decisions, which can lead to inefficiencies and life-threatening oversights.Continuous Monitoring: Nutromics is developing a platform of DNA-based sensors to provide continuous, real-time health data, crucial for conditions with rapidly changing biomarkers like heart attacks and drug dosages for sepsis.Target Vertical Integration: Nutromics strategically focuses on high-impact verticals (ICU, cardiology, renal, etc.) to establish strong use cases and optimize their technology's application before a broader rollout.Proactive Healthcare Vision: The ultimate goal is shifting from reactive to proactive healthcare by creating a system that alerts individuals of health issues before they become symptomatic.Collaborative Innovation: Peter underscores the importance of collaborating with world-class researchers and being persistent in securing and developing groundbreaking technologies.Notable Quotes:"70% of all clinical decisions are based on lab diagnostics like the ones we described; the current system has been a legacy system for decades.""The holy grail of healthcare is shifting from a reactive to a proactive model, rendering symptomatic diagnosis obsolete.""We are on our way to revolutionizing diagnostics, which is what we're trying to do.""When you know you've got a tech that can save someone's life and people are dying today because this isn't in the market, you have to go.""We feel privileged to be given the opportunity to do this. That's what drives us, that legacy we are going to leave behind."Resources:Nutromics Website: NutromicsUniversity of California, Santa Barbara: UCSBTim Ferriss' Books: The Four-Hour Body, The Four-Hour WorkweekDive deep into the future of health diagnostics with Peter Vranes and learn how Nutromics is changing the system. Don’t miss this insightful episode and stay tuned for more transformative stories from Shape the System. Shape the System is an independent podcast with support from KPMG High Growth Ventures More about KPMG High Growth VenturesScale up for success. We’re here for that.We navigate founders and their teams to the services they need to reach their next milestone. From startup to scale and beyond. No matter where you are right now, we’ll get you the help you need to drive your business forward. We help founders fully realise their potential, as well as the potential of their team and their business, by connecting them to the expertise, skills and resources they need at every stage of their growth journey.Our extensive experience in partnering with evolving businesses means that we can provide you with tailored support as well as independent and practical insights. Whether you are looking to refine your strategy, establish your operations, prepare for a capital raise, expand abroad or simply comply with regulatory requirements, we are here to help.Links:Website: About (highgrowthventures.com.au)LinkedIn: https://www.linkedin.com/showcase/kpmg-enterprise-high-growth-ventures/Contacts: highgrowthventures@kpmg.com.au
