Team introduction, glucose meter for detection of targets other than glucose; a device/strip to use with a glucometer for detection of non-glucose targets.
the old days of one wonder drug to cure all patients is gone and most pharmaceutical company is facing drugs are safe and effective to only certain populations. Therefore close and daily monitoring of therapeutic drugs is required.
Sweet sensors lecture 8 resources
Sweet SensorsSmall form factor Types
of targetsdiagnostic devices thatcan detect a variety of • Recreational drugsbiological markers. • Heavy metals • Toxins• Inexpensive • Bacteria• Quantitative • Viruses• Adaptable to many • Pharmaceuticals kinds of tests (targets) • Environmental hazards • Food safety targets Yu Xiang and Yi Lu, Nature Chem. 3, 697-703 (2011).
Meetings/Conversations From the Past Week•
Tecan group – Global provider of laboratory instruments and solutions in biopharmaceuticals, forensics, and clinical diagnostics.• Teleconference with Director of Strategic Alliances and three of her associates in a major pharmaceutical company• Abbott• Director of Economic & Technical Development Zone, Shanghai China• Food Safety and Quality Conference• Dr. Bill Olson, Market Medical Director - Pacific Region United Healthcare
Key findings:• Big pharma company
is interested in low cost drug monitoring during clinical trials and after the drugs are approved to ensure safety and effectiveness of the drug to individual patients – Site visit in December• Work with glucose meter manufacturers – Our technology makes a particular glucose meter more competitive on the market• Look for biomarkers for diseases that associated with diabetes• Invitation to give a presentation @Abbott in December• Emergency room, rapid toxicology screen
Business Model Canvas # 8
Yi Lu, Tian Lan, Brian Wong Sweet Sensors Neil Kane 11-15-2011 Chris Sorensen Conferences R&DPharmaceutical Immediate results Pharmaceuticalcompanies Publicity companies Direct Convenient monitoringDiagnostics Insurance Reimbursement and safer dosage Long termcompanies Diagnostic Robust/extensible companiesContract researchorganizations Inexpensive Contract research organizations Simple Pharmaceutical Cos IP InvestorsGlucometer mfr Personnel Pharmaceutical CosStrip mfr Licensing Licensing? R&D Product Sales
Partners • As noted on
the Business Model Canvas, key partners are pharmaceutical companies and glucose meter manufacturers. Sweet SensorsGlucose meter Pharmaceutical /manufacturer • Added value for meter diagnostic companies• Meter engineering manufacturers • Provide the target of• Strip design • Low cost, fast interest• FDA approval monitoring improves • Key customers clinical trials • Key market knowledge
Action plan• Put together a
compelling presentation and go pitch pharmaceutical companies and diagnostic companies. We’re getting inconclusive results talking to KOLs and consultants.• We are on second revision of a pitch to use.
Sweet Sensor Revenue Model Factors
COPD MARKET All Segments Market Size 16,000,000 Revenue Model Market Share Target 10% Channel Capacity 100% Customer Activations 1,600,000 Attrition 10% Net Customers 1,440,000 Missing: Revenue Model Usage per Year 52Lifetime value of customer Number of Uses per Year Revenue per Use $4 74,880,000 $4and amortization of Total revenue $299,520,000acquisition costs over EXPENSES Cost Per Customer Acquisition $25 $25lifetime Cust. Acquisiiton Expense $40,000,000 Channel Split 30% 30% Cost of Channel Sales $89,856,000 COGS $0.25 $18,720,000 Net Operating Income $150,944,000 Operating Margin 50% Operating Expenses GSA $5,000,000 EBIDTA $145,944,000 Net Margin 49%