Sweet Sensors has developed a novel technology that allows any glucose monitor to detect a wide range of non-glucose targets like disease markers, drugs, toxins, and bacteria at very low concentrations without any modifications. However, existing glucose monitors can only detect glucose and only at high concentrations. The company is exploring business models focused on partnering with pharmaceutical companies for therapeutic drug monitoring and using alternative samples like saliva that do not require blood.

1. Sweet Sensors
Glucose Monitor: We have developed a novel
technology to use any
• Widely available glucose monitor without
• Cheap modifications to detect a
• Quantitative wide range of non-glucose
information targets at very low
concentrations
However, it can detect (such as disease markers,
only one target: glucose drugs, heavy metals, toxins,
and at very high bacteria and viruses)
concentrations
Yu Xiang and Yi Lu, Nature Chem. 3, 697-703 (2011).

2. Business Model Canvas #4
Yi Lu, Tian Lan
Sweet Sensors Neil Kane 10-25-2011
Chris Sorensen
Conferences
Product R&D Immediacy
Glucose monitor Out of clinic Diabetics
QC Marketing Product support
manufacturers
- Abbott? Clinicians (in rural area)
FDA approval for in Convenient Patient
vitro diagnostics network/community
Pre-diabetics
Kit manufacturers
Food safety and
Reagent suppliers security related
Cheaper
Drug monitoring
KOL More frequent Retailers (Walgreen)
IP Personnel Medical Products Distributors
Pharmaceutical Cos
Disposable test kit (used repeatedly
Reagents Licensing on a regular basis)
Manufacturing FDA approval for in Reimbursement strategy
vitro diagnostics
Licensing Sponsored development or JDA

3. Meetings/Conversations From the Past Week
• Diabetes Technology Meeting@San Francisco
– Dr. Courtney Lias and Dr. Charles Zimliki (FDA, CDRH)
– Ken Doniger (Abbott, Diabetes Care)
– Ted Zhang, Senior Scientific Manager, Dexcom
– Richard Berenson, CEO, Thermalin Diabetes, L.L.C.
– Giles Hamilton, CEO, AccuNostics Ltd
– Jerome Schentag, CEO, CPL associates, L.L.C
– Mark Morrison, Senior Director, Corporate Investment, JABIL
• Tom Cox, Seneca Partners (VC)
• Kathryn Hyer, Illinois Ventures (VC)
• Craig Davis, consultant to medical companies
• Richard Selinfreund, President, Companion Diagnostics, Inc.
• Caralynn Nowinski, M.D.

4. Upcoming Conversations
• Sword Diagnostics
• Abbott Labs
• Attorney who is expert at companion diagnostics
• Retired pharma executive (Abbott and Baxter)
• Blue Cross Blue Shield innovation team
• Retired Merck executive
• Retired Hospira executive
• Michael Rosen, life sciences entrepreneur and
executive
• Atty with expertise in companion diagnostics
• Other VCs

5. Key findings
• Diabetes Technology Meeting
– FDA: software that provide medical advice is a medical device.
Same clearance as physical devices
– People remained skeptical about developing a new home A1C kit.
– Many people are interested in the technology itself;
– There are people who remain positive for A1C
– Potential partner, AccuNostics Ltd
• Dr. Wang@Champaign
– Monitoring of oral anticoagulants (e.g., Warfarin)
– Stroke biomarkers
– For A1C, “good” doctor will recommend a home test; key is to
educate the doctors
• Ashim Dutta
– A1C is not very exciting market for the big Pharma perspective
– Medicine monitoring and maintenance for certain drugs (e.g.,
chemotherapy)  TDM
– Pharma as investors: unlikely

6. Key findings
• Therapeutic Drug Monitoring (TDM)
– This seems to be the space we need to be in.
– Industry people we've talked to have been consistently positive
and we got a positive response from a major pharmaceutical
company too.
– We need to dig further.
– May have large FDA approval barrier, however.
• Body fluids
– If we can do the tests with saliva instead of blood, we'd have a
much larger opportunity according to one knowledgeable
person.

7. Synthesis of findings
1. Test should provide quick results that instigate
immediate behavior.
2. Should provide high value. Not concerned at the
moment with the largest market.
3. Ideally there will be nothing else available except
a clinical test.
4. It would be great if we can avoid blood as the
medium. Requiring a finger stick makes
compliance go way down.
5. Talk to diagnostics companies.
6. Expand intellectual property.

8. Business Model Canvas #5b
Yi Lu, Tian Lan, Brian Wong
Sweet Sensors Neil Kane 11-01-2011
Chris Sorensen
Conferences
R&D
Pharmaceutical Pharmaceutical
QC
companies One to one companies for
Immediacy
Therapeutic Drug
Glucometer/strip Long term Monitoring (TDM)
Convenient monitoring
manufacturer and safer dosage
Exclusive
Pharmaceutical Cos
IP
Pharmaceutical Cos
Personnel
Licensing
R&D Sales (to pharmaceutical companies)

9. Action plan
• Need to prepare a "brochure" and go talk to
diagnostics companies. Abbott is in our backyard. If
pharma and/or diagnostics companies are our key
customers, since our pivot, then we need to talk
directly to them. No more intermediaries.
• We need someone on our team, or a consultant, who
really understands the diagnostics space and how to
evaluate different markers for their commercial
attractiveness.