gluco sentient final nsf i-corps presentation
TRANSCRIPT
*
Gluco = Glucose
Sentient = Responsive to, perceptive or aware
Direct Read Out of
Target Concentration!
Patient Samples
(Blood/Saliva/
Urine )Personal Glucose Meter
Drug/Targets
of
interest
*Diagnostics platform leveraging personal glucose meters:
Therapeutic drug monitoring (TDM)
Clinical trial companion diagnostics
Medical diagnosis of many diseases
Environmental detection of contaminants
~100 GOOTB connections
*
*Diabetes patients were our initial target market
*Existing glucose meter + need to measure HbA1c
*Key value propositions
*Low cost
*Home testing
*Already have PGM
*Large market
*Patient population is huge
More frequent tests and
better diabetes
managementTotal available
market = $1.2
billion
Serviceable Available
Market = $600 million
Target market
= $120 million
*
Business Model Canvas #1
Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Clinicians (in rural area)
Triage nurses
Pre-diabetics
Product supports
Patient
network/community
Retailers (Walgreen)
Online vendors (Amazon)
Direct sales
Disposable test kit (used repeatedly
on a regular basis)
At home
Convenient
Less exposure to
infectious diseases
in the hospital
Cheaper
More frequent
Better indicator of
health (diabetic
management)
Conferences
Product R&D
QC
Marketing
IP
Personnel
Glucose monitor
manufacturers
Kit manufacturers
Reagent suppliers
Reagents
Manufacture
Licensing
FDA certification?
10-11--2011
*
The best test is one
where the result
affects the behavior.
Find a test where
immediate results have
value.
(I) spent a lot of time,
money looking at this
(HbA1c) market for
LifeScan – stay away.
*
“You might even have a
flexible Drugs of Abuse
Analyzer “Bank” which
is actually a rack which
holds a number of small
individual analyzers.”
“The “Holy Grail” now is
matching drug dosages to
individual patients based on a
wide range of factors (age,
weight, gender, ethnicity, body
chemistry, etc.)
So ONE DOSE DOES NOT FIT
ALL”
*
…….became our value propositions
* Immediacy
* Inexpensive/cost savings
* Multiple tests
* Short and inexpensive
development cycles
*
*Home monitoring of HbA1c does not meet
immediacy requirement
*Large effort is necessary to promote the usage of
home HbA1c test kit in the US
*Competition from product from Bayer
*Large regulatory hurdle
*One market that meets all the value propositions is drug monitoring during clinical trials and after the market
Business Model Canvas #4
Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Clinicians (in rural area)
Pre-diabetics
Product support
Patient
network/community
Retailers (Walgreen)
Medical Products Distributors
Disposable test kit (used repeatedly
on a regular basis)
Conferences
Product R&D
QC Marketing
IP Personnel
Glucose monitor
manufacturers
- Abbott?
Kit manufacturers
Reagent suppliers
Reagents
Manufacturing
Licensing
Convenient
Out of clinic
Cheaper
More frequent
FDA approval for in
vitro diagnostics
FDA approval for in
vitro diagnostics
KOL
Immediacy
Food safety and
security related
10-25-2011
Reimbursement strategy
Drug monitoring
Pharmaceutical Cos
Sponsored development or JDALicensing
Business Model Canvas #5Sweet Sensors
Yi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
One to one
Conferences
R&D
QC
IP
Personnel
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
Immediacy
11-01-2011
Pharmaceutical
companies for
Therapeutic Drug
Monitoring (TDM)
Pharmaceutical Cos
Sales (to pharmaceutical companies)
Pharmaceutical Cos
Long termGlucometer/strip
manufacturer
Exclusive
*
*Better drug monitoring reduces the costs of drug
development
*“One-drug-for-all” is gone; new drugs are more likely
to be effective for certain patients at certain dosage.
*They are willing to provide financial support
*They only want to buy the final products
*Therefore we need to find partners
*
Added value for meter manufacturers
Low cost, fast monitoring improves
clinical trials for pharmaceutical
Meter engineering
Strip design
FDA approval
Provide the targets
Key customers
Key market knowledge
GlucoSentient, Inc. Glucose meter
companies
Pharmaceutical
companies
Business Model Canvas #7Sweet Sensors
Yi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
Direct
Conferences
R&D
IP
Personnel
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
Immediate results
11-15-2011
Pharmaceutical Cos
Product Sales
Long term
Diagnostics
companies
Contract research
organizations
Pharmaceutical
companies for
Therapeutic Drug
Monitoring (TDM)
Diagnostic
companies
Contract research
organizationsInvestors
Publicity
Inexpensive
Simple
Insurance
Reimbursement
Robust/extensible
Licensing?
Glucometer mfr
Strip mfr
Pharmaceutical Cos
*
Time to obtain the test results
Develo
pm
ent
cost
s Conventional
Lab Test
POC tests
Our Technology
Total available market
~$20 billion
Serviceable available
Market ~ 2 billion
Target market
~$645 million
Axis Shield (clinic based, fluidics
tests for HbA1c, CRP…)acquired
Alere for $366 million (10/2011)
Claros (sensitive fluidics device for HIV
detection using antibodies) acquired
for $46 million by OPKO (11/2011)
*
Source: Point of Care Testing, Biophoenix 2010
Source: American Association for Clinical Chemistry
*
*Pitch to other pharmaceutical and diagnostic companies
*Develop prototype for the BEST targets in therapeutic drug
monitoring to demonstrate our technology
*Apply SBIRs to reduce technical risks
*License the technology from the University of Illinois
*Move into the Research Park at the University of Illinois
through the I-Start program
Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Business Model Canvas #1
Clinicians (in rural area)
Triage nurses
Pre-diabetics
Product supports
Patient
network/community
Retailers (Walgreen)
Online vendors (Amazon)
Direct sales
Disposable test kit (used repeatedly
on a regular basis)
At home
Convenient
Less exposure to
infectious diseases
in the hospital
Cheaper
More frequent
Better indicator of
health (diabetic
management)
IP
Personnel
Reagents
Manufacture
Licensing
FDA certification?
Glucose monitor
manufacturers
Kit manufacturers
Reagent suppliers
Conferences
Product R&D
QC
Marketing
*Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Business Model Canvas #2
Clinicians (in rural area)
Triage nurses
Pre-diabetics
Product supports
Patient
network/community
Retailers (Walgreen)
Online vendors (Amazon)
Direct sales
Disposable test kit (used repeatedly
on a regular basis)
Better indicator of
health (diabetic
management)
Glucose monitor
manufacturers
Kit manufacturers
Reagent suppliers
Reagents
Manufacture
Licensing
Convenient
At home
Less exposure to
infectious diseases
in the hospital
Cheaper
More frequent
FDA approval for in
vitro diagnostics
Conferences
Product R&D
QC Marketing
FDA approval for in
vitro diagnostics
IP Personnel
KOL
*Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Business Model Canvas #3
Clinicians (in rural area)
Pre-diabetics
Product supports
Patient
network/community
Retailers (Walgreen)
Online vendors (Amazon)
Disposable test kit (used repeatedly
on a regular basis)
Better indicator of
health (diabetic
management)
Glucose monitor
manufacturers
Kit manufacturers
Reagent suppliers
Reagents
Manufacture
Licensing
Convenient
At home
Less exposure to
infectious diseases
in the hospital
Cheaper
More frequent
FDA approval for in
vitro diagnostics
Immediacy
Food safety and
security related
10-18-2011
Conferences
Product R&D
QC Marketing
FDA approval for in
vitro diagnostics
IP Personnel
KOL
*Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Business Model Canvas #4
Clinicians (in rural area)
Pre-diabetics
Product support
Patient
network/community
Retailers (Walgreen)
Medical Products Distributors
Disposable test kit (used repeatedly
on a regular basis)
Conferences
Product R&D
QC Marketing
IP Personnel
Glucose monitor
manufacturers
- Abbott?
Kit manufacturers
Reagent suppliers
Convenient
Out of clinic
Cheaper
More frequent
FDA approval for in
vitro diagnostics
KOL
Immediacy
Food safety and
security related
10-25-2011
Reimbursement strategy
Drug monitoring
Pharmaceutical Cos
Sponsored development or JDALicensing
Reagents
Manufacture
Licensing
FDA approval for in
vitro diagnostics
*Diabetics
Sweet SensorsYi Lu, Tian Lan
Neil Kane
Chris Sorensen
Business Model Canvas #4
Clinicians (in rural area)
Pre-diabetics
Product support
Patient
network/community
Retailers (Walgreen)
Medical Products Distributors
Disposable test kit (used repeatedly
on a regular basis)
Conferences
Product R&D
QC Marketing
IP Personnel
Glucose monitor
manufacturers
- Abbott?
Kit manufacturers
Reagent suppliers
Convenient
Out of clinic
Cheaper
More frequent
FDA approval for in
vitro diagnostics
KOL
Immediacy
Food safety and
security related
10-25-2011
Reimbursement strategy
Drug monitoring
Pharmaceutical Cos
Sponsored development or JDALicensing
Reagents
Manufacture
Licensing
FDA approval for in
vitro diagnostics
*
Sweet SensorsYi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
Business Model Canvas #5b
One to one
Conferences
R&D
QC
IP
Personnel
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
Immediacy
11-01-2011
Pharmaceutical
companies for
Therapeutic Drug
Monitoring (TDM)
Pharmaceutical Cos
Sales (to pharmaceutical companies)
Pharmaceutical Cos
Long termGlucometer/strip
manufacturer
Exclusive
*
Sweet SensorsYi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
Business Model Canvas #6
One to one
Conferences
R&D
QC
IP
Personnel
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
Immediacy
11-01-2011
Pharmaceutical Cos
Sales (to pharmaceutical companies)
Pharmaceutical Cos
Long termGlucometer/strip
manufacturer
Exclusive
Contract research
organization
Pharmaceutical
companies
Glucometer/strip
manufacturer
Diagnostic
company
Contract research
organization
Diagnostics
companies
*
Sweet SensorsYi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
Business Model Canvas # 7 w/changes
Direct
Conferences
R&D
QC
IP
Personnel
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
11-08-2011
Pharmaceutical Cos
Product Sales
Pharmaceutical Cos
Long termGlucometer/strip
manufacturer
ExclusiveDiagnostics
companies
Contract research
organizations
Pharmaceutical
companies
Glucometer/strip
manufacturer
Diagnostic
companies
Contract research
organizations
Investors
Publicity
Inexpensive
Simple
Insurance Reimbursement
Robust/extensible
Licensing?
Glucometer mfr
Strip mfr
Immediacy
*
Sweet SensorsYi Lu, Tian Lan, Brian Wong
Neil Kane
Chris Sorensen
Business Model Canvas # 8
Direct
Conferences
R&D
Pharmaceutical
companies
R&D
Licensing
Convenient monitoring
and safer dosage
Immediate results
11-15-2011
Pharmaceutical Cos
Product Sales
Long termDiagnostics
companies
Contract research
organizations
Pharmaceutical
companies
Diagnostic
companies
Contract research
organizations
Publicity
Inexpensive
Simple
Insurance Reimbursement
Robust/extensible
Licensing?
Glucometer mfr
Strip mfr
IP
Personnel
Pharmaceutical Cos
Investors
*
* NSF I-Corps program
* The I-Corps teaching team
*
*
GlucoSentient
• Added value for
meter manufacturers
• Low cost, fast
monitoring improves
clinical trials
Glucose meter
manufacturer
• Meter engineering
• Strip design
• FDA approval
Pharmaceutical /
diagnostic companies
• Provide the target of
interest
• Key customers
• Key market
knowledge