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Sweet sensors final presentation
The document proposes a diagnostics platform that leverages personal glucose meters to directly read out target concentrations from patient samples. This allows for therapeutic drug monitoring, clinical trial companion diagnostics, and medical diagnosis of many diseases. Initial targets were diabetes patients to measure HbA1c using existing glucose meters. However, drug monitoring during clinical trials and after market approval emerged as a better fit due to meeting value propositions of immediacy, low cost, convenience, and allowing for more frequent testing. Partnering with pharmaceutical companies provides financial support and an outlet to sell final products. Glucose meter companies and pharmaceutical companies are key customers and markets due to improved drug development and clinical trials from fast, low-cost monitoring improving
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Sweet sensors final presentation
- 1. * Direct Read Out of Target Concentration! Drug/Targets of Patient Samples interest (Blood/Saliva/ Urine ) Personal Glucose Meter * Diagnostics platform leveraging personal glucose meters: Therapeutic drug monitoring (TDM) Clinical trial companion diagnostics Medical diagnosis of many diseases Environmental detection of contaminants ~100 GOOTB connections Gluco = Glucose Sentient = Responsive to, perceptive or aware
- 2.
- 3. * * Diabetes patientswere our initial target market * Existing glucose meter + need to measure HbA1c * Key value propositions * Low cost More frequent tests and * Home testing better diabetes management * Already have PGM Total available market = $1.2 * Large market billion * Patient population is huge Serviceable Available Market = $600 million Target market = $120 million
- 4. Business Model Canvas#1 Yi Lu, Tian Lan Sweet Sensors Neil Kane 10-11--2011 Chris Sorensen Conferences Product R&D Diabetics At home Product supports Glucose monitor QC Clinicians (in rural area) Convenient Patient manufacturers Marketing network/community Triage nurses Less exposure to Kit manufacturers infectious diseases Pre-diabetics in the hospital Reagent suppliers Cheaper More frequent Retailers (Walgreen) IP Personnel Better indicator of Online vendors (Amazon) health (diabetic management) Direct sales Reagents Manufacture Disposable test kit (used repeatedly Licensing on a regular basis) FDA certification?
- 5. * (I) spent a lot of time, money looking at this (HbA1c) market for LifeScan – stay away. The best test is one where the result affects the behavior. Find a test where immediate results have value.
- 6. * “You might even have a flexible Drugs of Abuse Analyzer “Bank” which is actually a rack which holds a number of small individual analyzers.” “The “Holy Grail” now is matching drug dosages to individual patients based on a wide range of factors (age, weight, gender, ethnicity, body chemistry, etc.) So ONE DOSE DOES NOT FIT ALL”
- 7. * * Immediacy * Inexpensive/cost savings * Multiple tests * Short and inexpensive development cycles …….became our value propositions
- 8. * * Home monitoring of HbA1c does not meet immediacy requirement * Large effort is necessary to promote the usage of home HbA1c test kit in the US * Competition from product from Bayer * Large regulatory hurdle * One market that meets all the value propositions is drug monitoring during clinical trials and after the market
- 9. Business Model Canvas#4 Yi Lu, Tian Lan Sweet Sensors Neil Kane 10-25-2011 Chris Sorensen Conferences Product R&D Immediacy Glucose monitor Out of clinic Diabetics QC Marketing Product support manufacturers - Abbott? Clinicians (in rural area) FDA approval for in Convenient Patient vitro diagnostics network/community Pre-diabetics Kit manufacturers Food safety and Reagent suppliers security related Cheaper Drug monitoring KOL More frequent Retailers (Walgreen) IP Personnel Medical Products Distributors Pharmaceutical Cos Disposable test kit (used repeatedly Reagents Licensing on a regular basis) Manufacturing FDA approval for in Reimbursement strategy vitro diagnostics Licensing Sponsored development or JDA
- 10. Business Model Canvas#5 Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-01-2011 Chris Sorensen Conferences R&D Pharmaceutical Pharmaceutical QC companies One to one companies for Immediacy Therapeutic Drug Glucometer/strip Long term Monitoring (TDM) Convenient monitoring manufacturer and safer dosage Exclusive Pharmaceutical Cos IP Pharmaceutical Cos Personnel Licensing R&D Sales (to pharmaceutical companies)
- 11. * * Better drug monitoring reduces the costs of drug development * “One-drug-for-all” is gone; new drugs are more likely to be effective for certain patients at certain dosage. * They are willing to provide financial support * They only want to buy the final products * Therefore we need to find partners
- 12. * Glucose meter GlucoSentient, Inc. Pharmaceutical companies companies Provide the Meter targets Added value for meter engineering Key customers manufacturers Strip design Low cost, fast Key market FDA approval monitoring improves knowledge clinical trials for pharmaceutical
- 13. Business Model Canvas#7 Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-15-2011 Chris Sorensen Conferences R&D Pharmaceutical Immediate results Pharmaceutical companies Publicity companies for Direct Convenient monitoring Therapeutic Drug Insurance and safer dosage Monitoring (TDM) Glucometer mfr Long term Reimbursement Strip mfr Robust/extensible Diagnostic companies Diagnostics Inexpensive companies Contract research Simple Pharmaceutical Cos organizations IP Investors Contract research organizations Personnel Pharmaceutical Cos Licensing Licensing? R&D Product Sales
- 14. * Conventional Development costs Lab Test POC tests Our Technology Time to obtain the test results
- 15. * Total available market ~$20 billion Serviceable available Market ~ 2 billion Target market ~$645 million Source: American Association for Clinical Chemistry Source: Point of Care Testing, Biophoenix 2010 Axis Shield (clinic based, fluidics Claros (sensitive fluidics device for HIV tests for HbA1c, CRP…)acquired detection using antibodies) acquired Alere for $366 million (10/2011) for $46 million by OPKO (11/2011)
- 16. * * Pitch to other pharmaceutical and diagnostic companies * Develop prototype for the BEST targets in therapeutic drug monitoring to demonstrate our technology * Apply SBIRs to reduce technical risks * License the technology from the University of Illinois * Move into the Research Park at the University of Illinois through the I-Start program
- 17. Business Model Canvas#1 Yi Lu, Tian Lan Sweet Sensors Neil Kane Chris Sorensen Conferences Product R&D Glucose monitor At home Diabetics QC Product supports manufacturers Clinicians (in rural area) Marketing Convenient Patient Kit manufacturers network/community Triage nurses Less exposure to Reagent suppliers infectious diseases Pre-diabetics in the hospital Cheaper More frequent Retailers (Walgreen) IP Personnel Better indicator of Online vendors (Amazon) health (diabetic management) Direct sales Reagents Manufacture Disposable test kit (used repeatedly Licensing on a regular basis) FDA certification?
- 18. Business Model Canvas#2 Yi Lu, Tian Lan Sweet Sensors Neil Kane Chris Sorensen Conferences Product R&D Glucose monitor At home Diabetics * QC Marketing Product supports manufacturers Clinicians (in rural area) FDA approval for in Convenient Patient Kit manufacturers vitro diagnostics network/community Triage nurses Less exposure to Reagent suppliers infectious diseases Pre-diabetics in the hospital Cheaper IP Personnel More frequent Retailers (Walgreen) Better indicator of Online vendors (Amazon) KOL health (diabetic management) Direct sales Reagents Manufacture Disposable test kit (used repeatedly Licensing on a regular basis) FDA approval for in vitro diagnostics
- 19. Business Model Canvas#3 Yi Lu, Tian Lan Sweet Sensors Neil Kane 10-18-2011 Chris Sorensen Conferences Product R&D Immediacy Glucose monitor At home Diabetics * QC Marketing Product supports manufacturers Clinicians (in rural area) FDA approval for in Convenient Patient Kit manufacturers vitro diagnostics network/community Less exposure to Reagent suppliers infectious diseases Pre-diabetics in the hospital Food safety and Cheaper security related IP Personnel More frequent Retailers (Walgreen) Better indicator of Online vendors (Amazon) KOL health (diabetic management) Reagents Manufacture Disposable test kit (used repeatedly Licensing on a regular basis) FDA approval for in vitro diagnostics
- 20. Business Model Canvas#4 Yi Lu, Tian Lan Sweet Sensors Neil Kane 10-25-2011 Chris Sorensen Conferences Product R&D Immediacy Glucose monitor Out of clinic Diabetics * QC Marketing Product support manufacturers - Abbott? Clinicians (in rural area) FDA approval for in Convenient Patient vitro diagnostics network/community Pre-diabetics Kit manufacturers Food safety and Reagent suppliers security related Cheaper Drug monitoring IP Personnel More frequent Retailers (Walgreen) Medical Products Distributors KOL Pharmaceutical Cos Reagents Disposable test kit (used repeatedly on a regular basis) Manufacture Reimbursement strategy Licensing FDA approval for in Licensing Sponsored development or JDA vitro diagnostics
- 21. Business Model Canvas#4 Yi Lu, Tian Lan Sweet Sensors Neil Kane 10-25-2011 Chris Sorensen Conferences Product R&D Immediacy Glucose monitor Out of clinic Diabetics * QC Marketing Product support manufacturers - Abbott? Clinicians (in rural area) FDA approval for in Convenient Patient vitro diagnostics network/community Pre-diabetics Kit manufacturers Food safety and Reagent suppliers security related Cheaper Drug monitoring KOL More frequent Retailers (Walgreen) IP Personnel Medical Products Distributors Pharmaceutical Cos Reagents Disposable test kit (used repeatedly on a regular basis) Manufacture Reimbursement strategy Licensing FDA approval for in Licensing Sponsored development or JDA vitro diagnostics
- 22. Business Model Canvas#5b Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-01-2011 Chris Sorensen Conferences R&D Pharmaceutical Pharmaceutical * QC companies One to one companies for Immediacy Therapeutic Drug Glucometer/strip Long term Monitoring (TDM) Convenient monitoring manufacturer and safer dosage Exclusive Pharmaceutical Cos IP Pharmaceutical Cos Personnel Licensing R&D Sales (to pharmaceutical companies)
- 23. Business Model Canvas#6 Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-01-2011 Chris Sorensen Conferences R&D Pharmaceutical Pharmaceutical * QC companies One to one companies Immediacy Glucometer/strip Convenient monitoring Long term Glucometer/strip manufacturer and safer dosage manufacturer Diagnostics Exclusive Diagnostic companies company Contract research Contract research Pharmaceutical Cos organization organization IP Pharmaceutical Cos Personnel Licensing R&D Sales (to pharmaceutical companies)
- 24. Business Model Canvas# 7 w/changes Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-08-2011 Chris Sorensen Conferences R&D Pharmaceutical Pharmaceutical * QC companies Direct companies Immediacy Publicity Glucometer/strip Convenient monitoring Long term Glucometer/strip manufacturer Insurance Reimbursement and safer dosage manufacturer Diagnostics Exclusive Diagnostic companies companies Inexpensive Contract research Pharmaceutical Cos Contract research Pharmaceutical Cos Simple organizations organizations IP Investors Glucometer mfr Robust/extensible Strip mfr Personnel Licensing Licensing? R&D Product Sales
- 25. Business Model Canvas# 8 Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-15-2011 Chris Sorensen Conferences R&D Pharmaceutical Immediate results Pharmaceutical * companies Publicity companies Direct Convenient monitoring Diagnostics Insurance Reimbursement and safer dosage Long term companies Diagnostic Robust/extensible companies Contract research organizations Inexpensive Contract research organizations Simple Pharmaceutical Cos Pharmaceutical Cos Glucometer mfr IP Investors Strip mfr Personnel Licensing Licensing? R&D Product Sales
- 26. * * NSF I-Corps program * The I-Corps teaching team
- 27.
- 28. * GlucoSentient Glucose meter Pharmaceutical / manufacturer • Added value for diagnostic companies • Meter engineering meter manufacturers • Provide the target of • Strip design • Low cost, fast interest • FDA approval monitoring improves • Key customers clinical trials • Key market knowledge
Editor's Notes
- #10 ImmediacyInstant results gives a reaction time advantage over tests done in a lab settingInexpensiveBy taking tests out of the lab and letting patients do them at home, we can save insurance companies a lot of money. Potential advantage in emerging markets too. Multiple testsMultiple tests (markers) for the same health care issue (glucose and cholesterol for diabetics, for example) leverage the same device. This translates into cost advantage, efficiency for the patience and may improve compliance. Short and inexpensive development cyclesMakes it practical to develop POC tests for indications with small populations such as during drug clinical trials
- #15 Glucose meter manufacturer
- #38 Glucose meter manufacturer