OncoSil™ approved for Innovation Funding (NUB) and Central Ethics for all hospitals in Germany
OncoSil Medical Ltd is pleased to announce that the German institute for the Hospital Remuneration System (InEK) granted the OncoSil™ device with a “Positive Status 1” classification under the innovation funding (NUB) program.
The NUB funding mechanism provides hospitals with additional funding to adopt a method or procedure that uses a new device that is not covered through existing federal hospital funding processes in Germany.
To secure NUB funding, a formal procedure is required whereby each hospital or hospital network is required to apply individually to The Institute for the Hospital Remuneration System (InEK). The InEK approves NUB funding based on a new device’s demonstrated added clinical benefit compared with established procedures and devices and the number of patients being treated with the device. In late 2021, 25 leading university hospital sites in Germany applied to the InEK for inclusion of the OncoSil™ device in the NUB program.
Now that the InEK has approved the OncoSil™ device with a Positive Status 1 NUB classification, the number of devices to be reimbursed, and the reimbursed price and inclusions will be negotiated between each individual hospital and the Statutory Health Insurance (SHI) providers (“sickness funds”). This negotiation process will occur in the near future following the Positive Status 1 classification of the OncoSil™ device.
Furthermore, OncoSil is pleased to announce that the University of Cologne Hospital has approved the OSPREY Registry, acting as the central ethics approvals authority for German hospitals. This process allows for the other 24 hospital sites who have submitted NUB applications to complete their internal ethics processes for the OSPREY registry in an expedited manner.
OncoSil’s CEO and Managing Director, Mr Nigel Lange said:
“Receiving a Positive Status 1 classification from the InEK is an important step forward for OncoSil in Germany. The team has been working closely with the leading hospital sites in submitting these applications to the InEK and we are pleased by the number of key opinion leaders who have supported
this process. The innovation funding (NUB) process significantly accelerates the process for obtaining systematic funding for treatment utilising the OncoSil™ device throughout all of Germany. Having experienced the positive uptake of a similar medical device following such classification, it bodes very well for delivering on OncoSil’s commercialisation plan.”