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Vitruvian
Preventing Hernias Before They Happen

December 10, 2013
Mentor: Julie Cherrington
Team:
Cindy Chang, PhD
Hobart...
Preventing hernias before they happen.
Preventing hernias before they happen.
Preventing hernias before they happen.
Preventing hernias before they happen.
Preventing hernias before they happen.

Hernia (%)

100
80
60
40
20
0
saline

tissue sealant

low dose
MYOSEAL

high dose
...
Preventing hernias before they happen.
Business Model Canvas
Interviews

President of Paradigm Medical Consultants:
Medical insurers do want to keep cost down
but they have limited ab...
Interviews

Quotes from Surgeons

My patients don’t develop hernias after my
operations. The 10% incidence quoted in the
l...
Business Model Canvas

???
Interviews
Quote from Key Opinion Leader

With strong clinical data, I think most surgeons
would adopt hernia prevention. ...
Interview Partners
Partner Interviews
Myoseal Finance & Operations Timeline
Program
Pre-clinical
Formulation,
toxicology &
IND
enabling
studies

2014
1Q

2Q

20...
De-risk the Technology

Change to another
indication with the
same product

Alter the product
composition
Therapeutic Investment Readiness Level

Plausible exit
Cash to exit
Unit economics Validated
Reimbursement
Regulatory
Inte...
Vitruvian week 10 presentation
Vitruvian week 10 presentation
Vitruvian week 10 presentation
Vitruvian week 10 presentation
Vitruvian week 10 presentation
Vitruvian week 10 presentation
Vitruvian week 10 presentation
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Vitruvian week 10 presentation

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Vitruvian week 10 presentation

  1. Vitruvian Preventing Hernias Before They Happen December 10, 2013 Mentor: Julie Cherrington Team: Cindy Chang, PhD Hobart W. Harris, MD, MPH David M. Young, MD Customer Interviews : 74
  2. Preventing hernias before they happen.
  3. Preventing hernias before they happen.
  4. Preventing hernias before they happen.
  5. Preventing hernias before they happen.
  6. Preventing hernias before they happen. Hernia (%) 100 80 60 40 20 0 saline tissue sealant low dose MYOSEAL high dose MYOSEAL Treatment Group Pre-Clinical Data in Rats
  7. Preventing hernias before they happen.
  8. Business Model Canvas
  9. Interviews President of Paradigm Medical Consultants: Medical insurers do want to keep cost down but they have limited ability to force doctors to perform a treatment that prevents a hernia.
  10. Interviews Quotes from Surgeons My patients don’t develop hernias after my operations. The 10% incidence quoted in the literature just means that another surgeon must have a 20% incidence. At the VA, I don’t think we understand the extent of the problem because the hernias occur outside the usual follow up period. Often my patients are seen and fixed by another surgeon. I don’t even know it.
  11. Business Model Canvas ???
  12. Interviews Quote from Key Opinion Leader With strong clinical data, I think most surgeons would adopt hernia prevention. No one wants to be left behind on new and better treatments. After all, surgeons want to do the best for their patients.
  13. Interview Partners
  14. Partner Interviews
  15. Myoseal Finance & Operations Timeline Program Pre-clinical Formulation, toxicology & IND enabling studies 2014 1Q 2Q 2015 3Q 4Q 1Q 2Q 3Q 2016 4Q 1Q 2Q 3Q Prod. Optim. ($100,000) Applicator ($ 800,000) Toxicology ($ 500,000) Phase 1/2 study over 2.5 years ($ 4 M) Clinical Trials Human Resource $ 200,000 $ 300,000 $ 600,000 $ 600,000 G&A + IP $ 100,000 $ 200,000 $ 500,000 $ 500,000 Running Total $ 1.7 M $3M $ 5.7 M $ 8.4 M 4Q
  16. De-risk the Technology Change to another indication with the same product Alter the product composition
  17. Therapeutic Investment Readiness Level Plausible exit Cash to exit Unit economics Validated Reimbursement Regulatory Intellectual Property Attractive solution & ID of MVP Compelling clinical need + large mkt Effective team?

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