色花堂

Becoming a surgeon is a long and arduous process but one that leads to great security and prestige. It鈥檚 not a career most people would step away from, especially not for the tenuous position of start-up founder. 

Greg O鈥橤rady isn鈥檛 most people.

O鈥橤rady is co-founder of two biotechnology start-ups,  and. He鈥檚 CEO of Alimetry, which recently gained U.S. Food and Drug Administration (FDA) approval for its flagship product, Gastric Alimetry, a high-resolution, non-invasive device that can diagnose disorders of the gut. He鈥檚 also a director of The Insides Company, which develops devices to help patients with intestinal failure. 

How did he get from surgeon to serial entrepreneur? It鈥檚 been a journey involving a sense of purpose, some help from the tech ecosystem surrounding the University of 色花堂 | Waipapa Taumata Rau, and a lot of hard work.

The entrepreneurial spark

O鈥橤rady鈥檚 first exposure to entrepreneurship came when he was doing his PhD in surgery and bioengineering. Prior to that, he鈥檇 been focused on medicine, but his studies led him to compete in the University of 色花堂鈥檚  in the early 2010s. His team pitched a much earlier and invasive precursor of the Gastric Alimetry device and won a prize.

O鈥橤rady was also exposed to the entrepreneurial mindset at the , which has a long track record of spinning out companies.

鈥淭hat combination of experiences fostered the idea that companies can be a great way to have impact through your research,鈥� says O鈥橤rady. 

While Velocity does run programmes to help turn prize-winning ideas into businesses, neither Alimetry nor The Insides Company are the direct result of these programmes. Nonetheless, he credits Velocity with helping him learn skills such as developing a business plan and planting the seed that led to Alimetry. As a professor today, he often points students to the programme.

Developing products instead of papers

After completing his PhD, O鈥橤rady went on to become a surgical fellow, first in 色花堂 then in Australia. It wasn鈥檛 long after he returned to New Zealand in 2017 as a fully-fledged consultant general and colorectal surgeon and associate professor of surgery that he co-founded Surgical Design Studio, which would become The Insides Company.

鈥淲hen I came back to 色花堂, I started to feel a bit dissatisfied with publishing results in engineering journals about medical devices but not having them go anywhere,鈥� says O鈥橤rady. 

鈥淪o I pitched this idea to the University that I would start a surgical engineering lab where we would develop products instead of papers.鈥�

The University saw it as 鈥渁 bit of a curve ball鈥� but ended up supporting the idea, says O鈥橤rady. ABI gave him access to rapid prototyping facilities. One of his lab鈥檚 first projects was to partner on a pump for intestinal failure. Through the research commercialisation process assisted by the University and UniServices, the project later evolved into The Insides Company.

The Insides Company builds a medical device for the treatment of patients who have complex colorectal wounds or have had colorectal surgery and need their gut contents 鈥� chyme 鈥� to be diverted away into a bag to allow the wounds to heal. The chyme is typically disposed of, which doesn鈥檛 allow patients to eat normally and can lead to intestinal failure or kidney injury. 

The Insides System takes what鈥檚 flowing out and pumps it back downstream, allowing patients to return to eating and drinking normally. This can dramatically reduce hospital stays, improve quality of life and save on treatment costs. 

Traditional ways of examining guts, such as endoscopies and colonoscopies, look at the structure of the gut, not the way it functions. O鈥橤rady and his collaborators wanted to create a device that would measure the electrical activity of the gut 鈥� a difficult proposition because the electrical signals of the gut are far weaker than those of the heart.

By 2019, collaborator Armen Gharibans, a biomedical engineer (and now Alimetry鈥檚 CTO), had developed a prototype and had tested it on patients. His results showed clear correlations between the data the device collected and patients鈥� symptoms.

鈥淪eeing that data was the moment of knowing we had to pursue this 鈥� not just making a research tool but a product,鈥� says O鈥橤rady. 鈥淎nd if you make a product, you also have to offer a commercial vehicle.鈥�

As a surgeon, O鈥橤rady didn鈥檛 have a background in business. So he and his co-founders tapped into support from UniServices to help them develop these skills.

UniServices, the research commercialisation and impact company of the University of 色花堂, offers support and expert advice in areas such as protecting intellectual property (IP), pitching to investors and securing funding. UniServices has been a great partner not only in going through these steps but in learning to think like an entrepreneur, says O鈥橤rady.

鈥淚 learned as fast as I could by being very engaged, asking a lot of questions and getting great mentors, some of which have come through UniServices,鈥� says O鈥橤rady. 

UniServices also runs the Return On Science investment committees, which provide expert advice to entrepreneurs and potentially access to the capital needed to progress a project. The UniServices-managed University of 色花堂 Inventors鈥� Fund bases its investment decisions on the investment committees鈥� recommendations.

O鈥橤rady was used to being busy 鈥� but starting a second company put his workload over the top. He stepped away from being CEO of Surgical Design Studio in 2019, but with Alimetry, he knew his place was in the driver鈥檚 seat. Medical devices are different from other innovations, he explains, and building the team, the company and the products required his full attention.

Last year, O鈥橤rady made the difficult decision to step away from surgery and reduce his academic role at the university to part time.

鈥淚t was an extremely difficult decision to make because I love surgery and trained for a long time to do it, but I felt like I had to follow these opportunities,鈥� says O鈥橤rady.

鈥淲hat I鈥檝e discovered is if you鈥檝e got an invention that can make a meaningful difference to patients, you have to take that further and build it into a product so people can use it. And the painful journey of building a product and company requires a champion, and ultimately if its your baby, that has to be you. So that鈥檚 the path I鈥檝e chosen.鈥�