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Tonometer final presentation

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  • 1. Home Tonometer The University of Arizona Eniko Enikov - PI Vasco Polyzoev – EL Emre Toker – Mentor Gholam Peyman, MD co-founder/co-inventor (and 11 customers we talked to)12/14/2011
  • 2. The ICORP Team • Eniko T. Enikov – PI - PhD, Assoc. Professor in Mechanical Engineering - co-Inventor • Vasco Polyzoev – EL - PhD, Post-Doc Research Associate in Mechanical Engineering • Emre Toker – Mentor - Angel Investor12/14/2011
  • 3. The Technology• Self-performed, non-invasive (over the eyelid) tactile tonometry device for glaucoma patients12/14/2011
  • 4. Home-use serial tonometry Value Proposition Glaucoma : if you are over 40, • Repetitive measurement of you might be going blind! eye pressure indicated for 3.2M Do you know your IOP? glaucoma patients; 1% utilization despite $81 reimbursement • Performed each month at home by the patient  $81 x 3.2M patients x once a month = $3B in new annual reimbursement revenue ($500,000 for average ophthalmologist)12/14/2011
  • 5. Must Have’s• FDA 510(k) approval – equivalence to gold standard• Acceptance by clinical community (beyond FDA approval)• Continued reimbursement of remote interpretation of home tonometry• Patent issued (US)12/14/2011
  • 6. Price• High volume COGs ~$100• Price survey of ophthalmologists: ~$315/unit• $315 x 3.2M patients = $1B total market• Additional annual reimbursement revenue to ophthalmologist per device/patient: $81 x 12 months = $97212/14/2011
  • 7. Competition Diaton - $2500 Icare - $3500 Tonopen - $150012/14/2011
  • 8. Initial Idea• We will make a great home tonometer and every glaucoma patient and every ophthalmologist will want to have it (at any price)…• Insurance/Medicare/VA will pay for it too, because it will save costs of transporting elderly and disabled to eye clinics…• We can sell it off of our website and handle all the transactions, etc… but will allow help from distributors12/14/2011
  • 9. Initial Business Model Canvas12/14/2011
  • 10. Revised Ideas (after talking to 8 doctors (phone & in person) and 3 patients (forum))• We will need the help of doctors to gain acceptance of the home tonometer to glaucoma patients• NOT every ophthalmologist will want to have it (definitely NOT at any price)…• Already an existing reimbursement for serial tonometry• Maybe have a research version for animal research labs (extra revenue pre-FDA)12/14/2011
  • 11. Business Model Canvas 212/14/2011
  • 12. New Inputs (after talking to 5 distribution companies)• We will need a GAT - comparable accuracy to get doctors interested in our tonometer• Suggestion to emulate hearing aids distribution and consign an inventory with doctors.• Patient gets fitted with a tonometer in the doctor’s Key Idea: One tonometer -> fits all !!! office.12/14/2011 Patent pending
  • 13. Business Model Canvas 312/14/2011
  • 14. More Inputs (after more discussions with 6 doctors and reflecting on operations and partnerships)12/14/2011
  • 15. Business Model Canvas 412/14/2011
  • 16. Distribution and Marketing Diagram12/14/2011
  • 17. Next Steps• Develop limited clinical evaluation using ~50 patients and confirm correlation with GAT and accuracy.• Seek VC/SBIR funding for larger clinical evaluation and FDA approval12/14/2011