IonExpress Shiva Portonovo (EL) Jason Poulos (M) Jacob Schmidt (PI)
Reprod. Beta Assay dev L Pharma Inst. mfrs. Fast Feedback Install/demo S/M Pharma Cells Winning Low cost Service Govt ctrs KOLs Easy to use, Direct, v new targets partner CROs/ Univ IP, cells Labs Inj. mold Direct low run cost Distributors Low cost One Time Recurring Recurring Inj. mold Instrument Consum. Maint Inst. assembly One Time Recurring Recurring warranty Software Train.
Who we have talked to Yoke Tanaka, CEO, Tecella Doug Krafte, CSO, Icagen Glenn Kirsch, ChanTest CEO, Small Pharma (confidential) Sr. VP Research + 3 scientists, Illumina Not interested in IC screening, wanted tech for sensors Dongxian Zhang, Burnham Institute Jim Hall, UCI Craig McKay, GSK
Channel partner instruments are sold direct Consumables off of company websites Instruments through sales reps Yoke Tanaka, CEO Tecella Tecella is a multichannel patch clamp amplifier mfr Excited about our platform and have loaned us an amp. Presumably theyd like to develop a new market. Expressed an interest in partnering; Tecella would provide amp and whole instrument system would be sold by us or them or both. Tecella sells amps through a traditional sales channel One issue was other APC mfrs Tecella has sold to make own software. For us to do would be big undertaking and out of our expertise. There is an academic in the UK with his own software and he supports Tecella amps. Perhaps this software could be licensed. Since our application is intended to be replication of APC data, and Tecella makes multichannel APC amps already, it seems that we wouldnt need much modification to the hardware.
Customer Doug Krafte, CSO Icagen Icagen is a Med/Sm Pharma specializing in ion channel drugs. Their e-‐phys platforms are IonWorks, Patch XPress, and PC Not concerned about inst. cost-‐ ~$500K is standard. Expensive consumables are a killer. Extremely concerned w/running costs and cost/dp Two opportunities for technology: 1) in HTS, data from opt. assays often doesnt match PC. If a reliable HTS ephys platform was available, it would be great. 2) Sometimes APC and PC dont match! So even a med throughput soln with better data could be viable. (This was a little bit surprising to me.) He is definitely interested in trying our technology. Importance of validation. We have IC50s within 30% of the lit. and industry looks to be within **a factor of three** so we are good. Keep validating and adoption will come if we can deliver cost and throughput.
Customer Glenn Kirsch: Sr. Dir. of Pharmacology, ChanTest Biggest impact is novel targets (cannot be targeted by APC) Intracellular ion channels, IP3, ryanodine receptors, mitochondrial channels Current pain points are cost and cell culture HTS plagued by high consum. cost ($150-‐$200 per plate). If we get to $15-‐$50 we could get primary screening. Fluorescent meas. bad, industry trying to replace; APC too expensive. Cell culture reduces efficiency. Eliminating cell culture is a huge plus. Path to Adoption Publish papers Early stage screening open to new technologies since nothing works anyway When we are around 2000 dp/day Chantest willing to do full validation, maybe earlier for new targets.
Customer Confidential (Local small pharma company) Have a difficult target; current tech not well suited. Must use a host of assays. Interested in providing us with target to validate. If works then they would be willing to try us. They are very small and strapped for cash so they could only purchase low cost instruments. They could use a service or rent the machine. Ease of use is very attractive. They would consider a 48 simultaneous measurement sites with >90% success a great achievement and willing to use. They understand the adoption problems we have and are willing to help validate the technology at a lower throughput.
Customers Craig McKay, Sr.Scientist/Investigator GSK Their e-‐phys measurements are "end-‐point" analyses way further down the discovery pipeline In the past GSK has partnered with start-‐up companies to bring forward promising technologies. They want vendor supported, turn-‐key solutions. Jim Hall, Professor UCI Thinks technology is very exciting and would be willing to use a lower throughput machine (8 channels) in his studies. Data quality is the most important thing for him. Would like to see additional features like perfusion during recording. Dongxian Zhang , Director e-‐phys group Burnham Institute They are very interested in using new technologies. Major pain point was throughput with data quality, they want both. Cost was somewhat of an issue. If we could provide a demo inst then they could host it. They wanted to see data/publications first.
Customer/New application? Group at Illumina Pain Points: Easy of use, Reliability Business Model: Service The meeting included the Senior VP of Research and 3 scientists. They are working on a new DNA sequencing technology that may require stable bilayers. They have invested over $40M in a protein engineering company, Oxford Nanopores, toward this goal. They were very concerned about ease of use and reliability of a bilayer platform. Cost did not really come up that much since this was a very research oriented conversation. They were interested in the platform and tried to get additional scientific knowledge from the meeting. They are potentially interested in a CRO type of agreement where we would handle the bilayer development but this was not very concrete at all. It became more of an information meeting where they were probing the technology and what it can do.
Takeaways Strong interest from possible channel partner sold directly by them New product line?-‐ med throughput that gives better data than APC Our IC50 data is already in line for adoption, just need more of it Inst cost not a concern for big pharma All costs are concern for small pharma and Univs. earlyvangelist