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Composite Nanocoatings NSF FInal Presentation

The document discusses a composite nanocoating technology for medical devices. It describes partnering with Surmodics to supply know-how and consolidate university IP. The coating reduces costs by providing an alternative to expensive Teflon catheter liners that are difficult to use. It delivers value by solving problems for medical catheter and stent companies through an easier application process and simplified licensing.

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Composite Nanocoatings Eric Loth Principal Investigator Team 21 http://youtu.be/sk45p1mpWe8 http://vimeo.com/6552419 Adam Steele Entrepreneurial Lead Bob Hergenrother I-Corps Mentor Ultra-low friction nanocomposite coatings that are durable and low-cost Joram Slager # of customer meetings Mentor & Coating Expert during I-Corps 106
Composite Nanocoatings Example - anti-wetting nanocomposite coating http://tmblr.co/Z0i3WyB7sDP
Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how Reduce icing on aircraft Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license and wind turbines relationship How costly are they? companies using UVA Patent implementation help Reduce drag in fluid Teflon inner liners Foundation Possible training for lines Providing a simple coating application Ship buildings UI Office of Tech. and efficient license Reduce insect fouling on Management airplane wings Aircraft Reduce drag on marine companies What Key Resources do our Value Propositions require? vehicles Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? Licensenow? coating How are we reaching them to want to be reached? Coating engineers Revenue Streams? How are our Channels integrated? Reduce ear wax fouling companies and Which ones work best? Which ones are most cost-efficient? on hearing aids How are we integrating them with customer routines? device companies PI with university directly tech transfer depts. Preventing liquid films on heat xfer elements Direct sales: materials Biomed labs at … & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Composite Nanocoatings Anti-fouling & anti-icing coatings on off- shore wind turbine blades $300K from AREVA
Composite Nanocoatings Lubricious coatings on medical catheters for easy device deployment
Composite Nanocoatings Customer Discovery Maturity Rolls Royce :: icing on aircraft inlets 3-4 yrs away Anti-icing high speed impact AREVA :: icing wind turbine blades Gates :: fluid power lines 4-6 yrs away Less ΔP high pressure Nitta :: fluid transfer tubes Boeing :: insect fouling 3-5 yrs away Anti-fouling Navy :: salt water bio-fouling high variability Starkey :: hearing aid wax buildup Lightsail :: preventing liquid films 2-3 yrs away Anti-wetting longevity SIPS :: moisture on structural panels West Pharm :: lubricious syringes < 1 yr away Lubricity bio-compatibility Surmodics :: lubricious med. devices
Composite Nanocoatings No major fundamental Customer Focus breakthroughs needed Maturity Rolls Royce :: icing on aircraft inlets 3-4 yrs away Anti-icing high speed impact AREVA :: icing wind turbine blades Gates :: fluid power lines 4-6 yrs away Less ΔP high pressure Nitta :: fluid transfer tubes Boeing :: insect fouling 3-5 yrs away Anti-fouling Navy :: salt water bio-fouling high variability Starkey :: hearing aid wax buildup Lightsail :: preventing liquid films 2-3 yrs away Anti-wetting longevity SIPS :: moisture on structural panels West Pharm :: lubricious syringes < 1 yr away Lubricity bio-compatibility Surmodics :: lubricious med. devices
Lubricity - medical devices Day Mont No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? Consolidate the Our Distribution Channels? Customer Relationships? Revenue streams? Added dry lubricity to Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? Medical catheter Who are our most important customers? university IP and inner lumen of relationship companies How costly are they? UVA Medical Center determine strength catheters for easy device deployment Possible training for Medical stent UVA Patent Solidify know-how coating application companies Foundation of applying coating Added wet lubricity to outer surface of Guessed at the Laparoscopic catheters for smooth value props device introduction companies What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Improved Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? Satellite expos Which ones work best? hemocompatibility for Which ones are most cost-efficient? How are we integrating them with customer routines? companies PI with university extended duration of tech transfer depts. devices Professional Artistic effects network Simplified university Exterior paint license companies What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
IP @ U. of Illinois IP @ U. of Virginia IP Composite Nanocoatings ! product product Medical Device Medical Coatings Company Company Health Insurance product Company Hospital $ services Medical Doctor
Composite Nanocoatings Customer Archetype Acutely aware of cost Ease of fabrication extremely important Want to use a cool tech to differentiate Need a reliable process Sensitive to FDA and regulation Happy with friction performance of PTFE Very focused on their particular device 2 main hubs - Minneapolis and Bay Area
Lubricity - medical devices Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how A Composite Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license Nanocoating is a cheaper relationship How costly are they? and easier-to-use companies using UVA Patent implementation help alternative to Teflon Teflon inner liners Foundation Possible training for catheter liners Providing a simple coating application UI Office of Tech. and efficient license Management “Teflon liners are 25% of our cost and are a pain to use” How are AdvancedCath - we reaching them to Technologies What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? Licensenow? coating want to be reached? Coating engineers Revenue Streams? How are our Channels integrated? companies and Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? device companies PI with university directly tech transfer depts. Direct sales: materials Biomed labs at & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Composite Nanocoatings $21.2B Total Market Catheters (Global) $9.6B Market Cardiovascular Catheters (Global) $900M Addressable Market Cardiovascular catheter inner liners
Composite Nanocoatings Push a rod through a catheter tube Preliminary data showed equivalency to Teflon Teflon = $12 vs. Coating $0.10
Exclusive Partnership Medical Devices Wind Turbines Corpus Medical AREVA Advanced Cath Stryker GE Vestas Technologies Neurovascular $ Surmodics PPG $ $ $ Composite Nanocoatings $ $ Sherwin $ Crowley Horizon Lines Maritime Matson Navigation Company Marine Vehicles
Expansion Medical Devices Wind Turbines Corpus Medical AREVA Advanced Cath Stryker GE Vestas Technologies Neurovascular $ Surmodics PPG $ $ $ Composite Nanocoatings $ $ Sherwin Growing Customers $ leverage existing expertise & channels Crowley Horizon Lines Matson Navigation Maritime attack other markets as technology matures Company focused customer portfolios Marine Vehicles
Backup
Composite Nanocoatings Push a rod through a catheter tube Show that coating has similar performance Show how much cheaper and easier it is Demo
Composite Nanocoatings Anti-icing coatings on airplane wings & engine inlets $50K from Rolls Royce
Composite Nanocoatings Competition...or potential partners * by far the biggest Seem unaware of price and ease of use issue Etch only and do not sell the liners themselves Need prototype to gauge the potential of partnering
Lubricity - medical devices Day Mont No. Need to focus due ✘ to varying needs Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Medicalvalue? Who are our most important catheter For whom are we creating Surmodics Who are our key suppliers? Our Distribution Channels? Teflon liners are Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? expensive and How are they integrated with the rest of our business model? companies relationship How costly are they? no license deal monopolized. We have a UVA Medical Center possible without better alternative: Endoscopic Possible training for crystal clear IP inexpensive, easier-to- catheter UVA Patent coating application use, same-or-better companies Foundation Solidify know-how of performance applying coating Pacemaker-lead Endoscopic catheters catheter cause pain for patients companies What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? doctor to lubricate; we Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? expos Which ones work best? Non-stick can simplify the Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university procedure. cookware companies ✘ tech transfer depts. Professional No license deal possible network without crystal clean IP... Medical stent & Not a value prop Composite Nanocoatings laparoscopic will provide licensable IP device companies What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Lubricity - medical devices Day Mont No. Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Endoscopic For whom are we creating value? ✘ Surmodics Who are our key suppliers? Our Distribution Channels? Teflon liners are Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? Who are our most important customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? expensive and How are they integrated with the rest of our business model? catheter relationship How costly are they? no license deal monopolized. We have a companies UVA Medical Center possible without better alternative: Possible training for crystal clear IP inexpensive, easier-to- Pacemaker-lead UVA Patent coating application use, same-or-better catheter Foundation Solidify know-how of performance companies applying coating ✘ ✘ Endoscopic catheters cause pain for patients What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? doctor to lubricate; we Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? Expos Which ones work best? can simplify the Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university procedure. tech transfer depts. Professional network Not channels Not value props What are the most important costs inherent in our business model? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? ✘ For what value are our customers really willing to pay? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? ✘ How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Lubricity - medical devices Day Mont No. Surmodics ✘ ✘ Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? UVA Medical Center Consolidate univ. IP & What Key Activities do our Value Propositions require? Our Distribution Channels? determine strength - Customer Relationships? Revenue streams? no license deal possible without What value do we deliver to the customer? A Composite Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Nanocoating is a cheaper and easier-to-use alternative to Teflon What type of relationship does each of our Customer Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? relationship How costly are they? Medicalvalue? Who are our most important catheter For whom are we creating companies using Teflon inner liners customers? ✘ Possible training for crystal clear IP catheter liners Pacemaker-lead UVA Patent coating application catheter Foundation Build prototype! A Composite Nanocoating companies can make implant lead Should be long- extraction much less Medical implant term activities dangerous companies What Key Resources do our Value Propositions require? Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Licensenow?Customer Segments Through which Channels do our want to be reached? How are we reaching them to coating companies and How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? device companies How are we integrating them with customer routines? PI with university tech transfer depts. directly Biomed labs at Direct sales: materials Surmodics & equipment What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? Materials and coating equipment sales for immediate For what do they currently pay? How are they currently paying? How would they prefer to pay? revenue during build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Lubricity - medical devices Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how A Composite Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license Nanocoating is a cheaper relationship How costly are they? and easier-to-use companies using UVA Patent implementation help ✘ alternative to Teflon Teflon inner liners Foundation Possible training for catheter liners Providing a simple coating application ✘ Active medical UI Office of Tech. and efficient license implant companies A Composite Nanocoating Management ✘ can make implant lead extraction much less Pacemaker-lead dangerous catheter What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Through which Channels do our Customer Segments Licensenow? coating How are we reaching them to want to be reached? companies Coating engineers Revenue Streams? This is a big How are our Channels integrated? companies and Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university problem but tech device companies directly tech transfer depts. years away Direct sales: materials Biomed labs at & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Lubricity - medical devices Day Mont No. Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Medicalvalue? Who are our most important catheter For whom are we creating Surmodics Who are our key suppliers? Our Distribution Channels? A Composite Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? Nanocoating is a cheaper How are they integrated with the rest of our business model? companies using relationship How costly are they? no license deal and easier-to-use Teflon inner liners UVA Medical Center ✘ possible without alternative to Teflon Possible training for crystal clear IP catheter liners GI endoscopic UVA Patent coating application catheter Foundation ✘ Solidify know-how of A Composite Learned not a big companies applying coating Nanocoating reduces cost and improves enough problem Pacemaker-lead patient comfort in GI catheter What Key Resources do our Value Propositions require? endoscopic procedures Licensenow?Customer Segments Through which Channels do our to coating Coating engineers Our Distribution Channels? Customer Relationships? want to be reached? companies using catheters Revenue Streams? How are we reaching them companies and How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? device companies How are we integrating them with customer routines? PI with university A Composite Implant tech transfer depts. directly companies lead Nanocoating can make implant lead extraction extraction much less dangerous Direct sales: materials & equipment What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? Materials and coating equipment sales for immediate For what do they currently pay? How are they currently paying? How would they prefer to pay? revenue during build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Lubricity - medical devices Day Mont No. ✘ Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? Consolidate the Our Distribution Channels? Customer Relationships? Revenue streams? Added dry lubricity to Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? Medical catheter Who are our most important customers? university IP and inner lumen of relationship companies How costly are they? UVA Medical Center determine strength catheters for easy device deployment Possible training for Medical stent ✘ UVA Patent Solidify know-how coating application companies Foundation of applying coating Added wet lubricity to outer surface of Learned we don’t Laparoscopic catheters for smooth need super device introduction performance companies ✘ What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Improved Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? expos Which ones work best? hemocompatibility for Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university extended duration of ✘ tech transfer depts. devices Professional network Simplified university license What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
Composite Nanocoatings Key Partners We need expertise in We need to license the IP We need to license the medical device coatings with reasonable terms, IP with reasonable terms, and established preferably with a tiered preferably consolidating channels structure IP into UVA They need new revenue They need to see the They need new revenue sources to grow details of the business sources to grow model and plan in order to The cost is an extra determine specific terms The cost is the royalty middle-man taking a cut rate (3-8%) and the time The cost is the royalty rate to inform them (3-8%) and the time to inform them
Composite Nanocoatings Competition...or potential partners We need established We need established We need established channel to most medical channel to some medical channel to some medical companies that need companies that need teflon companies that have teflon liners liners teflon liners etched They need new revenue They need new revenue They need new revenue sources to grow sources to grow sources to grow The cost is the cut they The cost is the cut they The cost is the cut they take to be the middle- take to be the middle-man take to be the middle- man man Need prototype to gauge Seem unaware of price the potential of partnering Etch only and do not sell and ease of use issue the liners themselves
Composite Nanocoatings Hypothesis A Composite Nanocoating is a cheaper and easier-to-use alternative to Teflon catheter inner liners Experiment Catheter companies must consistently tell us that this is one of their top issues and they are eager to use an alternative right away Results Four companies have identified this as a major issue, and two described it as nice- to-have. Iterate Complete new coating formulation to replace Teflon liners
Non-Exclusive Composite Nanocoatings $ $ $ $ Advanced Cath Stryker Corpus Medical Technologies Neurovascular Advantages no middle-man to take an extra cut closer relationship to end customer Disadvantages can’t leverage established channels loss of existing expertise from an established coating company more relationships to maintain
Composite Nanocoatings Customer acquisition cost 10 feasibility studies per 1 license $10K per feasibility study $100K cost per customer Customer lifetime value $1M per year per customer
Composite Nanocoatings Most important metric for business model is the cost to produce alternative coating Pricing tests Catheter companies currently pay $8-12 per device for PTFE liners and will buy an alternative coating if cheaper Pricing tactics If coating is easier to use, maybe we can charge more? Iterate Develop prototype
Composite Nanocoatings Hypothesis Need to supply equipment, materials, and know-how + training in addition to licensing Experiment Coating and surface modification company interviews Results Both Hoowaki Inc and Surmodics Inc. have described that this is a critical part of a licensing model because the licensees do not have the know-how or desire to implement the tech from scratch Iterate No
Composite Nanocoatings Hypothesis Medical device coatings may take too long to deploy and earn revenue, which could make it extremely difficult to start a new business Experiment Talk to medical coating and device companies and understand the ecosystem and the different options Results Discovered that the time to revenue varies widely depending on the medical device and the country Iterate Once market niche selected, must select the appropriate options from the following diagram
Composite Nanocoatings Class I - common low risk devices, e.g. bandages, gloves, surgical instruments Determine device Class II - higher risk devices, e.g. wheelchairs, infusion pumps, surgical drapes class Class III - highest risk devices, e.g. implants, pulse generators, HIV diagnostics Class I - most exempt from pre-market submission Classification selects Class II - special controls, pre-market notification (510k) marketing process Class III - comprehensive data needed, pre-market application (PMA) Seek approval in the U.S. first - long FDA approval Select regulatory Seek approval overseas first - fast CE Mark in E.U. strategy Start approval process in the U.S. and overseas in tandem - most resources Develop data for Materials and equipment sales required applications for build-test stage
PTFE Extrusion Supplier $ Medical Catheter Company $ Payment flows diagram Hospital $ Health Insurance Company $ Patients
PTFE Extrusion Composite Nanocoatings Supplier $ Medical Catheter Company $ Payment flows diagram Hospital $ Health Insurance Company $ Patients
Composite Nanocoatings SAM Medical Device Coatings - $5B Total Market Coatings (Global) - $87B Addressable Market Dry+Wet Lubricious Medical Device Coatings - $170M (Based on a multiple of Surmodics’ current estimated market share)
Composite Nanocoatings Teflon liners

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Composite Nanocoatings NSF FInal Presentation

  • 1.
    Composite Nanocoatings Eric Loth Principal Investigator Team 21 http://youtu.be/sk45p1mpWe8 http://vimeo.com/6552419 Adam Steele Entrepreneurial Lead Bob Hergenrother I-Corps Mentor Ultra-low friction nanocomposite coatings that are durable and low-cost Joram Slager # of customer meetings Mentor & Coating Expert during I-Corps 106
  • 3.
    Composite Nanocoatings Example -anti-wetting nanocomposite coating http://tmblr.co/Z0i3WyB7sDP
  • 4.
    Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how Reduce icing on aircraft Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license and wind turbines relationship How costly are they? companies using UVA Patent implementation help Reduce drag in fluid Teflon inner liners Foundation Possible training for lines Providing a simple coating application Ship buildings UI Office of Tech. and efficient license Reduce insect fouling on Management airplane wings Aircraft Reduce drag on marine companies What Key Resources do our Value Propositions require? vehicles Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? Licensenow? coating How are we reaching them to want to be reached? Coating engineers Revenue Streams? How are our Channels integrated? Reduce ear wax fouling companies and Which ones work best? Which ones are most cost-efficient? on hearing aids How are we integrating them with customer routines? device companies PI with university directly tech transfer depts. Preventing liquid films on heat xfer elements Direct sales: materials Biomed labs at … & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 5.
    Composite Nanocoatings Anti-fouling & anti-icing coatings on off- shore wind turbine blades $300K from AREVA
  • 6.
    Composite Nanocoatings Lubricious coatings on medical catheters for easy device deployment
  • 7.
    Composite Nanocoatings Customer Discovery Maturity Rolls Royce :: icing on aircraft inlets 3-4 yrs away Anti-icing high speed impact AREVA :: icing wind turbine blades Gates :: fluid power lines 4-6 yrs away Less ΔP high pressure Nitta :: fluid transfer tubes Boeing :: insect fouling 3-5 yrs away Anti-fouling Navy :: salt water bio-fouling high variability Starkey :: hearing aid wax buildup Lightsail :: preventing liquid films 2-3 yrs away Anti-wetting longevity SIPS :: moisture on structural panels West Pharm :: lubricious syringes < 1 yr away Lubricity bio-compatibility Surmodics :: lubricious med. devices
  • 8.
    Composite Nanocoatings No major fundamental Customer Focus breakthroughs needed Maturity Rolls Royce :: icing on aircraft inlets 3-4 yrs away Anti-icing high speed impact AREVA :: icing wind turbine blades Gates :: fluid power lines 4-6 yrs away Less ΔP high pressure Nitta :: fluid transfer tubes Boeing :: insect fouling 3-5 yrs away Anti-fouling Navy :: salt water bio-fouling high variability Starkey :: hearing aid wax buildup Lightsail :: preventing liquid films 2-3 yrs away Anti-wetting longevity SIPS :: moisture on structural panels West Pharm :: lubricious syringes < 1 yr away Lubricity bio-compatibility Surmodics :: lubricious med. devices
  • 9.
    Lubricity - medicaldevices Day Mont No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? Consolidate the Our Distribution Channels? Customer Relationships? Revenue streams? Added dry lubricity to Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? Medical catheter Who are our most important customers? university IP and inner lumen of relationship companies How costly are they? UVA Medical Center determine strength catheters for easy device deployment Possible training for Medical stent UVA Patent Solidify know-how coating application companies Foundation of applying coating Added wet lubricity to outer surface of Guessed at the Laparoscopic catheters for smooth value props device introduction companies What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Improved Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? Satellite expos Which ones work best? hemocompatibility for Which ones are most cost-efficient? How are we integrating them with customer routines? companies PI with university extended duration of tech transfer depts. devices Professional Artistic effects network Simplified university Exterior paint license companies What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 10.
    IP @ U.of Illinois IP @ U. of Virginia IP Composite Nanocoatings ! product product Medical Device Medical Coatings Company Company Health Insurance product Company Hospital $ services Medical Doctor
  • 11.
    Composite Nanocoatings CustomerArchetype Acutely aware of cost Ease of fabrication extremely important Want to use a cool tech to differentiate Need a reliable process Sensitive to FDA and regulation Happy with friction performance of PTFE Very focused on their particular device 2 main hubs - Minneapolis and Bay Area
  • 12.
    Lubricity - medicaldevices Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how A Composite Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license Nanocoating is a cheaper relationship How costly are they? and easier-to-use companies using UVA Patent implementation help alternative to Teflon Teflon inner liners Foundation Possible training for catheter liners Providing a simple coating application UI Office of Tech. and efficient license Management “Teflon liners are 25% of our cost and are a pain to use” How are AdvancedCath - we reaching them to Technologies What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? Licensenow? coating want to be reached? Coating engineers Revenue Streams? How are our Channels integrated? companies and Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? device companies PI with university directly tech transfer depts. Direct sales: materials Biomed labs at & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 13.
    Composite Nanocoatings $21.2B Total Market Catheters (Global) $9.6B Market Cardiovascular Catheters (Global) $900M Addressable Market Cardiovascular catheter inner liners
  • 14.
    Composite Nanocoatings Push a rod through a catheter tube Preliminary data showed equivalency to Teflon Teflon = $12 vs. Coating $0.10
  • 15.
    Exclusive Partnership Medical Devices Wind Turbines Corpus Medical AREVA Advanced Cath Stryker GE Vestas Technologies Neurovascular $ Surmodics PPG $ $ $ Composite Nanocoatings $ $ Sherwin $ Crowley Horizon Lines Maritime Matson Navigation Company Marine Vehicles
  • 16.
    Expansion Medical Devices Wind Turbines Corpus Medical AREVA Advanced Cath Stryker GE Vestas Technologies Neurovascular $ Surmodics PPG $ $ $ Composite Nanocoatings $ $ Sherwin Growing Customers $ leverage existing expertise & channels Crowley Horizon Lines Matson Navigation Maritime attack other markets as technology matures Company focused customer portfolios Marine Vehicles
  • 17.
  • 18.
    Composite Nanocoatings Push a rod through a catheter tube Show that coating has similar performance Show how much cheaper and easier it is Demo
  • 19.
    Composite Nanocoatings Anti-icing coatingson airplane wings & engine inlets $50K from Rolls Royce
  • 20.
    Composite Nanocoatings Competition...or potentialpartners * by far the biggest Seem unaware of price and ease of use issue Etch only and do not sell the liners themselves Need prototype to gauge the potential of partnering
  • 21.
    Lubricity - medicaldevices Day Mont No. Need to focus due ✘ to varying needs Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Medicalvalue? Who are our most important catheter For whom are we creating Surmodics Who are our key suppliers? Our Distribution Channels? Teflon liners are Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? expensive and How are they integrated with the rest of our business model? companies relationship How costly are they? no license deal monopolized. We have a UVA Medical Center possible without better alternative: Endoscopic Possible training for crystal clear IP inexpensive, easier-to- catheter UVA Patent coating application use, same-or-better companies Foundation Solidify know-how of performance applying coating Pacemaker-lead Endoscopic catheters catheter cause pain for patients companies What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? doctor to lubricate; we Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? expos Which ones work best? Non-stick can simplify the Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university procedure. cookware companies ✘ tech transfer depts. Professional No license deal possible network without crystal clean IP... Medical stent & Not a value prop Composite Nanocoatings laparoscopic will provide licensable IP device companies What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 22.
    Lubricity - medicaldevices Day Mont No. Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Endoscopic For whom are we creating value? ✘ Surmodics Who are our key suppliers? Our Distribution Channels? Teflon liners are Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? Who are our most important customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? expensive and How are they integrated with the rest of our business model? catheter relationship How costly are they? no license deal monopolized. We have a companies UVA Medical Center possible without better alternative: Possible training for crystal clear IP inexpensive, easier-to- Pacemaker-lead UVA Patent coating application use, same-or-better catheter Foundation Solidify know-how of performance companies applying coating ✘ ✘ Endoscopic catheters cause pain for patients What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? doctor to lubricate; we Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? Expos Which ones work best? can simplify the Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university procedure. tech transfer depts. Professional network Not channels Not value props What are the most important costs inherent in our business model? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? ✘ For what value are our customers really willing to pay? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? ✘ How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 23.
    Lubricity - medicaldevices Day Mont No. Surmodics ✘ ✘ Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? UVA Medical Center Consolidate univ. IP & What Key Activities do our Value Propositions require? Our Distribution Channels? determine strength - Customer Relationships? Revenue streams? no license deal possible without What value do we deliver to the customer? A Composite Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Nanocoating is a cheaper and easier-to-use alternative to Teflon What type of relationship does each of our Customer Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? relationship How costly are they? Medicalvalue? Who are our most important catheter For whom are we creating companies using Teflon inner liners customers? ✘ Possible training for crystal clear IP catheter liners Pacemaker-lead UVA Patent coating application catheter Foundation Build prototype! A Composite Nanocoating companies can make implant lead Should be long- extraction much less Medical implant term activities dangerous companies What Key Resources do our Value Propositions require? Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Licensenow?Customer Segments Through which Channels do our want to be reached? How are we reaching them to coating companies and How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? device companies How are we integrating them with customer routines? PI with university tech transfer depts. directly Biomed labs at Direct sales: materials Surmodics & equipment What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? Materials and coating equipment sales for immediate For what do they currently pay? How are they currently paying? How would they prefer to pay? revenue during build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 24.
    Lubricity - medicaldevices Day Month Ye No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Supplying know-how A Composite Collaborative Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? Medical catheter & other pre-license Nanocoating is a cheaper relationship How costly are they? and easier-to-use companies using UVA Patent implementation help ✘ alternative to Teflon Teflon inner liners Foundation Possible training for catheter liners Providing a simple coating application ✘ Active medical UI Office of Tech. and efficient license implant companies A Composite Nanocoating Management ✘ can make implant lead extraction much less Pacemaker-lead dangerous catheter What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Through which Channels do our Customer Segments Licensenow? coating How are we reaching them to want to be reached? companies Coating engineers Revenue Streams? This is a big How are our Channels integrated? companies and Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university problem but tech device companies directly tech transfer depts. years away Direct sales: materials Biomed labs at & equipment Surmodics Most important current cost is time and salary Materials and coating equipment sales for immediate What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? revenue during customers’ build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 25.
    Lubricity - medicaldevices Day Mont No. Who are our Key Partners? Consolidate univ. IP & What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer Medicalvalue? Who are our most important catheter For whom are we creating Surmodics Who are our key suppliers? Our Distribution Channels? A Composite Which one of our customer’s problems are we helping to solve? Collaborative Segments expect us to establish and maintain with them? customers? determine strength - Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? Nanocoating is a cheaper How are they integrated with the rest of our business model? companies using relationship How costly are they? no license deal and easier-to-use Teflon inner liners UVA Medical Center ✘ possible without alternative to Teflon Possible training for crystal clear IP catheter liners GI endoscopic UVA Patent coating application catheter Foundation ✘ Solidify know-how of A Composite Learned not a big companies applying coating Nanocoating reduces cost and improves enough problem Pacemaker-lead patient comfort in GI catheter What Key Resources do our Value Propositions require? endoscopic procedures Licensenow?Customer Segments Through which Channels do our to coating Coating engineers Our Distribution Channels? Customer Relationships? want to be reached? companies using catheters Revenue Streams? How are we reaching them companies and How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? device companies How are we integrating them with customer routines? PI with university A Composite Implant tech transfer depts. directly companies lead Nanocoating can make implant lead extraction extraction much less dangerous Direct sales: materials & equipment What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? Materials and coating equipment sales for immediate For what do they currently pay? How are they currently paying? How would they prefer to pay? revenue during build-test stage How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how A licensing model based on a combination of IP and Licensing fees from IP consolidation know-how for sustainable revenue This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 26.
    Lubricity - medicaldevices Day Mont No. ✘ Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Surmodics Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? Consolidate the Our Distribution Channels? Customer Relationships? Revenue streams? Added dry lubricity to Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Collaborative Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? Medical catheter Who are our most important customers? university IP and inner lumen of relationship companies How costly are they? UVA Medical Center determine strength catheters for easy device deployment Possible training for Medical stent ✘ UVA Patent Solidify know-how coating application companies Foundation of applying coating Added wet lubricity to outer surface of Learned we don’t Laparoscopic catheters for smooth need super device introduction performance companies ✘ What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Coating engineers Our Distribution Channels? Customer Relationships? Revenue Streams? Improved Conferences and want to be reached? How are we reaching them now? How are our Channels integrated? expos Which ones work best? hemocompatibility for Which ones are most cost-efficient? How are we integrating them with customer routines? PI with university extended duration of ✘ tech transfer depts. devices Professional network Simplified university license What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Most important current cost is time and salary Which Key Resources are most expensive? Which Key Activities are most expensive? A licensing model based on a combination of IP and For what do they currently pay? How are they currently paying? How would they prefer to pay? know-how How much does each Revenue Stream contribute to overall revenues? R&D to obtain know-how Additional materials and coating equipment sale Licensing fees from IP consolidation This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
  • 27.
    Composite Nanocoatings Key Partners Weneed expertise in We need to license the IP We need to license the medical device coatings with reasonable terms, IP with reasonable terms, and established preferably with a tiered preferably consolidating channels structure IP into UVA They need new revenue They need to see the They need new revenue sources to grow details of the business sources to grow model and plan in order to The cost is an extra determine specific terms The cost is the royalty middle-man taking a cut rate (3-8%) and the time The cost is the royalty rate to inform them (3-8%) and the time to inform them
  • 28.
    Composite Nanocoatings Competition...or potentialpartners We need established We need established We need established channel to most medical channel to some medical channel to some medical companies that need companies that need teflon companies that have teflon liners liners teflon liners etched They need new revenue They need new revenue They need new revenue sources to grow sources to grow sources to grow The cost is the cut they The cost is the cut they The cost is the cut they take to be the middle- take to be the middle-man take to be the middle- man man Need prototype to gauge Seem unaware of price the potential of partnering Etch only and do not sell and ease of use issue the liners themselves
  • 29.
    Composite Nanocoatings Hypothesis A Composite Nanocoating is a cheaper and easier-to-use alternative to Teflon catheter inner liners Experiment Catheter companies must consistently tell us that this is one of their top issues and they are eager to use an alternative right away Results Four companies have identified this as a major issue, and two described it as nice- to-have. Iterate Complete new coating formulation to replace Teflon liners
  • 30.
    Non-Exclusive Composite Nanocoatings $ $ $ $ Advanced Cath Stryker Corpus Medical Technologies Neurovascular Advantages no middle-man to take an extra cut closer relationship to end customer Disadvantages can’t leverage established channels loss of existing expertise from an established coating company more relationships to maintain
  • 31.
    Composite Nanocoatings Customeracquisition cost 10 feasibility studies per 1 license $10K per feasibility study $100K cost per customer Customer lifetime value $1M per year per customer
  • 32.
    Composite Nanocoatings Mostimportant metric for business model is the cost to produce alternative coating Pricing tests Catheter companies currently pay $8-12 per device for PTFE liners and will buy an alternative coating if cheaper Pricing tactics If coating is easier to use, maybe we can charge more? Iterate Develop prototype
  • 33.
    Composite Nanocoatings Hypothesis Need to supply equipment, materials, and know-how + training in addition to licensing Experiment Coating and surface modification company interviews Results Both Hoowaki Inc and Surmodics Inc. have described that this is a critical part of a licensing model because the licensees do not have the know-how or desire to implement the tech from scratch Iterate No
  • 34.
    Composite Nanocoatings Hypothesis Medical device coatings may take too long to deploy and earn revenue, which could make it extremely difficult to start a new business Experiment Talk to medical coating and device companies and understand the ecosystem and the different options Results Discovered that the time to revenue varies widely depending on the medical device and the country Iterate Once market niche selected, must select the appropriate options from the following diagram
  • 35.
    Composite Nanocoatings Class I - common low risk devices, e.g. bandages, gloves, surgical instruments Determine device Class II - higher risk devices, e.g. wheelchairs, infusion pumps, surgical drapes class Class III - highest risk devices, e.g. implants, pulse generators, HIV diagnostics Class I - most exempt from pre-market submission Classification selects Class II - special controls, pre-market notification (510k) marketing process Class III - comprehensive data needed, pre-market application (PMA) Seek approval in the U.S. first - long FDA approval Select regulatory Seek approval overseas first - fast CE Mark in E.U. strategy Start approval process in the U.S. and overseas in tandem - most resources Develop data for Materials and equipment sales required applications for build-test stage
  • 36.
    PTFE Extrusion Supplier $ Medical Catheter Company $ Payment flows diagram Hospital $ Health Insurance Company $ Patients
  • 37.
    PTFE Extrusion Composite Nanocoatings Supplier $ Medical Catheter Company $ Payment flows diagram Hospital $ Health Insurance Company $ Patients
  • 38.
    Composite Nanocoatings SAM Medical Device Coatings - $5B Total Market Coatings (Global) - $87B Addressable Market Dry+Wet Lubricious Medical Device Coatings - $170M (Based on a multiple of Surmodics’ current estimated market share)
  • 39.

Editor's Notes