This commentary is from Joy Parr Drach, CEO of Morrisville-based Ad Astra Diagnostics.
By Joy Parr Drach CEOs and entrepreneurs are always asking, “What’s next?” For our team at Ad Astra Diagnostics (AAD), that question led to the development of a first-of-its-kind portable diagnostic platform that can deliver lifesaving information in resource-constrained environments ranging from disaster zones to hospital emergency rooms. One of the first steps in assessing patients is running a complete blood count, the most commonly ordered test. This traditionally requires a lab, electricity, phlebotomy, and, oftentimes, the Internet. Our portable analyzer removes these obstacles by providing results patient-side in about 2 minutes by using a finger stick. This technology has its origins in rugged and unpredictable livestock settings. Our QScout platform was first used to test cattle for infections without leaving the farm. Using just a small drop of milk or blood, a treatment decision can be made in seconds. When our team began to consider what’s next for our technology, it became curious about how it could be used in other industries. For one, it was designed for nontraditional healthcare settings, and results were produced almost immediately. The jump to using our technology on humans seemed only natural. In November 2023, we received our first 510(k) clearance from the FDA. As I look back now at the steps AAD took to grow its product line from diagnostics for animals to humans, I see some important lessons that any entrepreneur can learn from. Lesson #1: Upcycle In other words, how can your products solve other problems? We saw an opportunity to reimagine our products and provide human point-of-care markets with the same benefits we offered livestock producers. As we moved from livestock testing to testing humans to speed up life-saving triage decisions, we exemplify the definition of upcycling: reusing or recycling something in a way that increases the original object’s value. Lesson #2: Stay curious and open to new opportunities Lesson #3: Surround yourself with the best Lesson #4: Create a supportive culture Give your team both literal and figurative ownership and freedom to explore their new ideas and to fail. Empower them to iterate, rapidly and keep obstacles, such as administrative burdens, out of their way so they are free to innovate. Lesson #5: Use your village Remember, there is a community and resources to help entrepreneurs. Use them. Parr Drach has launched more than 30 new products or initiatives, She serves on several boards promoting entrepreneurship, life sciences and agriculture. She earned a bachelor’s from the University of Illinois and an MBA from the University of Chicago. |