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WakeUp251111_Case_Mendor Presentation Transcript

  • 1. styleCompany Presentation CEO Kristian Ranta +358 45 673 3313 kristian@mendor.com
  • 2. Mendor aims to become a category leader in all-in-one bloodglucose monitoring and management  Our vision is to improve blood glucose management in everyday life leading to reduction in diabetes related complications and costs, and improvement in the quality of life of the people with diabetes.  We strongly believe in user-centric design, and have designed the solution together with people with diabetes and diabetes professionals since the day one  We believe in great organization culture and that working should be fun, encouraging and creative.
  • 3. Mendor background  Founded in Finland in 2006 after success in local business plan competition – Venture Cup (http://web.venturecup.fi/)  Co-founder industrial designer and type 1 diabetic  Highly interdisciplinary team, attracting top-level expertise/talent  Important partners in the early years: Tekes, Keksintösäätiö, Finnvera, Technopolis Ventures, Avera etc.  Used 5 M € by the end of 2010 - product on the market in EU  Closest competitor Intuity Medical (http://www.presspogo.com/) raised around $140 M, without having sales approval or product on the market.
  • 4. Mendor background  CE mark / Sales permit received in summer 2010.  Started co-operation with Novartis pharmaceuticals Finland in March 2011  Raised a B-round of 8,1 M € in June 2011  Negotiating global co-operation with 3 different major pharmaceutical companies Key leanings:  Believe you can be the best in the world in your area – no. 1  Be positive!!!  Combine senior + junior expertise  Put a lot of focus on fundraising – very difficult and time consuming  Only hire people you really want to work with (very few exceptions). Don’t hire only based on CV!!!  Overcome “credibility gap”  Company culture and “having fun attitude” saves a lot!
  • 5. Mendor Discreet all-in-one blood glucose meter and....Balance online DB / analysis application
  • 6. Mendor meter is optimized for discreetness and high usability  Integrated, discreet all-in-one blood glucose meter  Enables measurement of blood glucose anytime and anywhere  Measurement time 5 seconds, total 20 seconds from pocket to pocket operation  Replaceable 25 test strip cartridge  Easy to change and adjust single lancet  FDA & CE approved electronics and test strips technology  Test strips specific for glucose, no cross- reactivity with other sugars Great feedback from customers, integration of components, usability, discreetness and cool looks being the key points.
  • 7. Mendor Balance software is a cloud based glucose dataanalysis platform.  Balance helps healthcare professionals to treat patients more efficiently  Structured approach to SMBG (when to measure and why?)  First software to make use of pair measurements (IDF)  Web/cloud-based (SaaS) – easy information sharing  Presenting results in meaningful format (not focusing on graphs)  Monitors the effect of changes made to treatment regimen  Encourages to conduct meaningful measurements  Highly valuable data bank for pharma companies – for example further product development  Data mining / analysis
  • 8. Mendor management team Kristian Ranta Heikki UurtoRon Pellegrini CEO,SVP, Business CFO Co-Founder Development US  Digia Oyj Q Step Inc.  CRF Health BC Tech 3i backed up Acuity Ventures growth company Malcolm Paul Mordente Antti Tuomas Jarmo Yeudall SVP, Sales & Virkamäki Planman Mäentausta VP Production Marketing Medical VP, IPR / Legal, VP Research & Director Co-Founder Development Inverness  J&J / Lifescan  Mehiläinen  Helsinki  Nokia Medical  Harvard University of  Suunto J&J / LifeScan Technology  Polar
  • 9. Mendor Board of Directors  Matti Vaheri, Chairman of the board, has a long experience of international business in Orion Diagnostica and Orion Pharma,  Risto Siilasmaa, Member of the board, is also a member of the board of Nokia Corporation. Chairman of the board of the largest telecom in Finland (Elisa) and Anti-virus Corporation F-Secure. Risto also serves in the board of many smaller companies.  Mikko-Jussi Suonenlahti, Member of the board, is a senior advisor at DFJ Esprit. Works also for Finnvera. Background from 3i and Qatar Capital Partners.  Olli Riikkala, Member of the board, is currently Chairman of the Board of Helvar Merca Ltd, Comptel Ltd, Oriola-kd Ltd and Palodex Group Ltd and board member of TietoEnator Oyj and Instrumentarium Science Foundation.  Anne Portwich, Member of the board , is a Partner at the specialized healthcare and biotechnology investment firm LSP in the Amsterdam office and has been with the firm since 2001.
  • 10. Mendor Clinical Advisory Board  Professor Marja-Riitta Taskinen Professor Marja-Riitta Taskinen MD Her main interest is in lipid and lipoprotein metabolism. Her longstanding original and important observations have contributed significantly to the understanding of lipoprotein abnormalities, genetics and pathophysiology in Type 2 diabetes, insulin resistance and the Metabolic Syndrome.  Professor Oliver Schnell Prof. Oliver Schnell is the Executive Member of the Managing Board of the Diabetes Research Group, Helmholtz Center, Munich and Professor of Medicine, Ludwig-Maximilians-University, Munich. He is the President of the Local Organizing Committee the Annual Meeting of the “Diabetes and Cardiovascular Disease EASD Study Group” 2011. He is a member of national and international guideline committees and is also official instructor of the German Diabetes Association.  Professor Louis Monnier Professor of Endocrinology and Diabetology at the Medical School of Montpellier, University of Montpellier 1, France  Professor David Owens Clinical Professor, Department of Medicine, Centre for Endocrine & Diabetes Sciences, Department of Medicine, Cardiff University School of Medicine  Antonio Ceriello Antonio Ceriello, MD, is Professor of Endocrinology at the University of Udine in Italy. He is also Adjunct Professor of Medicine at the University of Oklahoma City in USA.
  • 11. Customers & Sales  Current commercial/distribution partners:  Novartis pharmaceuticals - Finland  Greece & Cyprus – Leriva  EBN Sina Medical - Qatar  China – Tagene Medical – to start in April 2012  Local sales & marketing operations in Scandinavia / deals:  Several cities in Finland  Biggest pharmacy chain in Finland (Yliopiston Apteekki)
  • 12. Mendor blood glucose meter is designed for cost-efficientvolume production – very cost competitive Device production capacity at 10k-level a month, increasing to 30k-level a month by the end of 2011. Highly professional production partners in South- China and South-Korea For further scale-up – offer on the table from one of the biggest contract manufacturers in the world.
  • 13. styleThank you!