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Mira Medicine Final Presentation

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Mira Medicine Final Presentation

  1. MIRA Medicine Empowering complex clinical decisions Lean Launch Pad for the Life Sciences UCSF – Fall 2013 Team: PA Gourraud Raphaelle Loren Jason Crane
  2. team PA Gourraud - Analytics Lead Hustler, Hacker, Biostatistician Raphaelle Loren - Business Lead Hustler, Product, Marketer Jason Crane - Software Lead Hacker, Imaging Software
  3. LLP JOURNEY GENESIS
  4. MULTIPLE SCLEROSIS: a case study Challenge #1 Evaluating the disease Challenge #2 Selecting the right treatment at the right time Bonus challenge Education and communication with the patient
  5. MS Economics 500,000 patients in North America 18,000 neurologists $7.8B in drugs prescribed every year for MS Total cost to society $28B/year Competitive market for therapies
  6. BEFORE LLP: Memorable quotes If you can show pharmacoeconomics, payors will be really interested Dr. G, UCSF Neurology This would be a great tool to monitor individual trajectories during clinical trials This is a great telemedicine tool! T.M., J&J Head of Innovation, Sanofi Dr. S., community MD & entrepreneur We’d be really interested in testing a tool like this for Alzheimer’s
  7. A RICH MAN’S PROBLEM PRODUCT OR SERVICE COMPANY? MS OR MULTI-DISEASE FOCUS?
  8. BMC #1
  9. What did we learn? LESSON #1 Our solution elicits advice and new ideas from almost all interviewees
  10. What did we learn?
  11. What did we learn? LESSON #1 - Our solution elicits advice and new ideas from almost all interviewees LESSON # 2 Focusing on a specific set of customers at a time will give us more insights into their needs
  12. 1 step back for 3 steps forward visualize data personalize guidance quicker assessment facilitate patient/clinician collaboration improve outcomes Takes pride in art of medicine See more patients Enhance relationship with patients Slow down MS even more assess history explain options MS Bioscreen 10 min saving per consult simplify data access trial and error # of options 1/3 visit is about disease education no personalized guidance Recommend tx + disease management tools/services keeping up with latest research
  13. What did we learn?
  14. Key Alpha customer: Clinical researcher Research Lab Director & MD • Translational focus, lots of data • Financially independent • Can initiate clinical trials
  15. Memorable quotes from LLP interviews I can’t wait to see our research on here. When can we install this in our clinic? Prof Miravalle, University of CO I would love to test this tool for epilepsy Prof Steinman, Stanford [I see] this tool as a fundamental step into optimizing therapies in MS and will lead the implementation here. Dr P, UCSF
  16. What did we learn? LESSON #1 - Our solution elicits advice and new ideas from almost all interviewees LESSON # 2 - Focusing on 1 specific set of customers at a time will give us more insights KEY TAKE AWAYS 1. Validated of initial target audience for the existing tool 2. Our Holy Grail is the predictions and treatment recommendations 1. We can create value before we get to that Holy Grail
  17. Vision 5-8 year Prescriptive Predictive Comparative Descriptive MS Parkinson’s Psychiatric disorders Alzheimer’s Brain Tumor Transplantations Prostate Cancer Complex diseases
  18. New Market Precision Medicine $2B+ Analytics tools for Clinical Care $200M+ Bio-informatics Knowledge Management $215M+ Target market 8-10 years 100-200M
  19. What are we doing next? • Partner with Alpha customers • Pursue Customer Discovery • Design validation studies for each of our key value props
  20. Investment readiness
  21. MIRA Medicine Empowering complex clinical decisions Thank you
  22. 2015 Cash reserve 2014 2016 2017 Series A Series C Series B Product dev Data + analytics MIRA MS custom installs IP MIRA MS marketable product MIRA MS 2nd release Pilot studies US Pivotal Clinical Trials US Interim Trials Clinical trials Research Ctrs EMRs Comparative 1st gen predictive & reco 2nd gen predictive & reco Technology Licensing Provisional patents Regulatory / IP Multi-disease cognitive system platform 3rd disease 2nd disease beta 1 disease beta 2018 IDE from IRB Cat III CPT Algos patents FDA – Class III – 510(k) with Clinical Trials CPT codes 3rd gen predictive & reco
  23. Mira Medicine Custom tools for therapeutic decision-making in complex neurological disease • • • • • • EMRs? Data analytics company Imaging processing partner Data aggregation platform? Pilot studies partners (Med Center) Design firm/data viz guru - Algorithm development Imaging processing Software design and development UI design and development Data curation (at later phase for baseline) Sales, marketing, customer development Development team AI team Designer Provider: Multi-data type decision-making tool Dedicated personal assistance Co-creation of some of the IP? Pharma = recruit new patients and keep them on therapy CROs: carefully design studies with deep experts. Recruit patients faster Custom solution to visualize individual health data in context - Reduce overall costs - Improve efficiency of clinical trials - personalized tracking - Provide personalized therapeutic guidance (pilots) • • • • • Medical Centers Pharmas VA EMRs? CROs (for targeted therapies) DIRECT Awareness: conferences, papers, online Eval, purchase: Bus dev 1:1 (initially PAG + RDL) INDIRECT: Partners such as McKesson? Bundled with an EMR? CROs? OEMs Value-driven model (high personalization of offering) Fixed costs low (no major cap ex to get started, and some costs are proportionate to growth, while others are reduced through economies of scale.) Cash-flow should be watched tightly at the beginning (net 30 after submission of first invoice, unless we can negotiate % upfront) Platform as a Service (+ 10-20% custom work) Fee for service: Custom software development contract Data curation services Subscription: Maintenance/support contract
  24. Business Model Canvas: MIRA Key Partners Problem Image processing IP attorney CPA/CFO Med Center for studies/validation NMSS Key Solution Activities Algos Unique Value Proposition Software design and dev Image processing Customer development Validation & pilots 1. Improved patient outcome by identification of optimal treatment paths 2. Saves time 3. Improves relationship Key Activity Key KOLs, case studies Patient stories, community Expert dedicated project lead Thought-leadership Customer Segments MS Neurologists MS Patients Medical Centers CROs AI team DB and mobile dev team Designer Product Regulatory Channels Pharma 4. Increases compliance Resources Channels Payors 5. Increases probability of success of clinical trial (patient id) OEM/Mobile tool provider ePocrates? NMSS Cost Structure Direct sales 1:1 Revenue Streams Core team Dev tools Licensing from UCSF (equity at end of Series A) Date: 06/05/2013 Customer Unfair Relationships Advantage Version Name: v02 - Pay per use (cash or credits) (Credits are earned for sharing data) - Fee for custom development - Maintenance /upgrade subscription
  25. Business Model Canvas: MIRA (bold items are validated) Key Partners Problem Image processing Med Center for studies/validation Data generating devices NMSS EMR Key Solution Activities Algos Unique Value Proposition Software design and dev Image processing Customer development Validation & pilots 1. Improved patient outcome by identification of optimal treatment paths 2. Saves time 3. Improves relationship Key Activity Key Resources AI team DB and mobile dev team Designer Product Regulatory 4. Improve patient retention; ROI on infrastructure; decrease penalties (MU2) Customer Segments Get: Awareness campaign (Conferences, KOLs, articles) MS Neurologists Keep & Grow: Expert dedicated project lead Channels Medical Centers Purchasing Pharma Payers Clinical researchers Channels APIs/existing systems 5. Visualize their own data; realize translational promise Cost Structure Direct 1:1 sales Revenue Streams Core team Dev tools Licensing from UCSF (equity at end of Series A) Date: 06/05/2013 Customer Unfair Relationships Advantage Version Name: v02 - Pay per use (cash or credits) (Credits are earned for sharing data) - Fee for custom development - Maintenance /upgrade subscription

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