LavaAmp Venture Forum Presentation


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Presentation of the LavaAmp business plan at Frederick County Chamber of Commerce Venture Forum on 3/25/10

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  • The LavaAmp is a lightweight, portable, and inexpensive Polymerase Chain Reaction (PCR) thermocycler design that can compete with currently available PCR thermocyclers at only a fraction of the cost. This innovative design is USB powered, Open-source software that is controllable through USB interface with a PC and has no moving parts. PCR can be used for various functions, such as identification of hereditary diseases and genetic fingerprints, food safety, diagnosis of infectious diseases, and performance of molecular biology research. Market analyses indicate that the buoyancy-driven thermocycler would best fit the food safety testing, educational, forensic and third world public health sectors due to its portability and low cost. IP: Texas A&M license agreement in August 09, but now using Trade Secrets to protect technology since it’s a crowded space and PCR patents recently expired.
  • Definition: hard to define since it is so large and customer base varies. PCR for the people Market Opportunity: US microbiology Market: definition (many other applications for PCR) Infectious diseases is currently low for PCR-based tests, relying more on other technologies, but same sample (blood, urine, saliva) can be used in PCR format with higher precision and specificity Food Testing moving from Classic microbiology
  • In order to effectively launch the business, we project a total need of $2MM in equity financing. Principal uses of the funds will be to finance operations until cash flow becomes positive, to produce injection molds, acquire IP exclusivity, acquire supporting technologies and to fund research. To date we have raised a total of $150,000 in equity, personally promised from CEO Joseph Jackson. The company anticipates being cash flow positive by the end of 2012 and to create a stronger balance sheet in order to help secure additional leverage against inventory and receivables. Furthermore, we project that within three years of becoming cash flow positive, company expansion would not require additional bank financing, relying instead upon sales revenue and private investment. Within 5 years it is anticipated that GHGbio using capital generated via company activities or merger/acquisition of GHGbio will reclaim all initial investment interest.
  • LavaAmp Venture Forum Presentation

    1. 1. Venture Forum – March 25, 2010 LavaAmp, Inc. Jim Hardy [email_address] (301) 639-6718
    2. 2. Business Summary <ul><li>portable, rapid, and inexpensive </li></ul><ul><li>Better, faster cheaper technology platform </li></ul>
    3. 3. The Market: 4.4 million Tests/day
    4. 4. The Market <ul><li>Market Definition </li></ul><ul><ul><li>Food Safety testing </li></ul></ul><ul><ul><li>Geographic: US (technology driven) </li></ul></ul><ul><ul><li>Implications for remote-low resource applications </li></ul></ul><ul><li>Market Opportunity: Food Testing </li></ul><ul><ul><li>$2.5B USD: 48.5% of micro market in‘08 </li></ul></ul><ul><ul><li>Growth Trends: ~9%/yr in revenue, shift from “classical” microbiology to “rapid” testing platforms </li></ul></ul>
    5. 5. Projections COSTS Revenue Profit 2010 $ 376 $ - $ (376) 2011 $ 1,823 $ 1,350 $ (473) 2012 $ 3,693 $ 3,270 $ (423) 2013 $ 4,616 $ 8,700 $ 4,084 2014 $ 5,540 $ 15,225 $ 9,685
    6. 6. Competitive Environment <ul><li>Direct Competitors: Mini PCR devices </li></ul><ul><ul><li>Idaho Technology, Inc. The Ruggedized Advanced Pathogen Identification Device (R.A.P.I.D.) system </li></ul></ul><ul><ul><li>JBAIDS (Joint Biological Agent Identification and Diagnostic System) Funding </li></ul></ul><ul><ul><ul><li>$3.3 MM 11/09 </li></ul></ul></ul><ul><ul><ul><li>$3.6MM 7/09 </li></ul></ul></ul><ul><ul><li>High power consumption (110V), 50 lbs, 3-color fluorescence (=$$$), cost </li></ul></ul><ul><li>Indirect Competitors (other ways in which customers could solve their needs) </li></ul><ul><ul><li>Celsis Rapid Detection Systems </li></ul></ul><ul><ul><li>Classic microbiology CROs </li></ul></ul><ul><ul><ul><li>bioMerieux </li></ul></ul></ul><ul><ul><ul><li>Fisher Scientific </li></ul></ul></ul><ul><ul><li>Classic PCR, Real-time PCR </li></ul></ul>
    7. 7. The Company <ul><li>We are a diverse team, spread between the US and Latin America, with both the vision and audacity to try to change the way molecular biology is done and make it affordable to millions, creating new markets and applications. </li></ul>
    8. 8. Management & Personnel <ul><li>Overview of Management Team </li></ul><ul><ul><li>Joseph Jackson </li></ul></ul><ul><ul><li>Guido Nunez-Mujica </li></ul></ul><ul><ul><li>Jim Hardy </li></ul></ul><ul><ul><li>Biodesic (Rik Wehbring, Rob Carlson) </li></ul></ul><ul><li>Staffing </li></ul><ul><ul><li>Future Needs: Sales and Marketing </li></ul></ul><ul><ul><li>All part timers while we work on funding </li></ul></ul><ul><ul><li>Full time commitment, Sales, Operations and logistics </li></ul></ul>
    9. 9. Strategic Partnerships <ul><li>Overview of Strategic Partnerships (if applicable) </li></ul><ul><ul><li>Biodesic: Engineering services </li></ul></ul><ul><ul><ul><li>Access to funding </li></ul></ul></ul><ul><ul><li>WIRED </li></ul></ul><ul><ul><ul><li>Publicity </li></ul></ul></ul><ul><ul><ul><li>Technology </li></ul></ul></ul><ul><li>SciFoo </li></ul><ul><ul><li>Google factor </li></ul></ul>
    10. 10. Funding Scenario <ul><li>$2 MM in Equity </li></ul><ul><li>Follow-on for addition licensing and R&D </li></ul><ul><li>Uses of Funds </li></ul><ul><ul><li>Research leading to clinical certification </li></ul></ul><ul><ul><li>Licensing </li></ul></ul><ul><ul><li>Injection molds, Capital improvements for scale up operations </li></ul></ul><ul><li>Repayment/Exit Options </li></ul><ul><ul><li>Sustainable Business </li></ul></ul><ul><ul><li>M&A </li></ul></ul>
    11. 11. Contact Information <ul><li>Jim Hardy </li></ul><ul><li>[email_address] </li></ul><ul><li>(301) 639-6718 </li></ul>