Revolutionary medical technology for cancer diagnostics
Quick overview: Medical ‘fishing wire’ that greatly improves cancer diagnostics by providing concentrated samples. A unique solution in a huge upstream market of diagnostics.
We are a medical device startup that radically improves the accuracy and reliability of cancer diagnostics by providing a highly concentrated blood sample. Everyone in the cancer field is trying to use blood samples to diagnose patients instead of biopsies because blood samples are much safer and less painful. But so far, biopsies are still the norm because there is very little cancer material in the blood, or none at all. Billion-dollar companies are therefore spending huge amounts of money on R&D to find needles in haystacks, when there are simply no needles in most haystacks.
We develop a new technology that uses medical ‘fishing wires’ to collect a large amount of cancer DNA and cancer cells in the bloodstream. The samples that we provide with our medical wire amplify the accuracy and reliability of existing diagnostic tests without changing their workflow. Diagnostic tests that hardly work currently, e.g. only in advanced stage cancer, can then be used reliably even in early-stage cancer or screening by using our more concentrated sample. Our proprietary technology is unique in innovating the weakest link in cancer diagnostics: the sampling procedure.
We have tested the first product on animals and have proven its safety and demonstrated that it works. We now focus on preparing the first human studies, while already building relationships with strategic corporates to work towards a full acquisition of the company. The goal of our Dutch 10-people startup is to provide a powerful new weapon in the fight against cancer: a new sampling standard in oncology that ensures that we track cancer’s every move!
Quick overview: focus on the exit
We have a ‘pharmaceutical’ business model, in which we develop a novel high-impact technology that is acquired by a large incumbent during- or after regulatory approval. Significant rounds of investment are required until regulatory approval, and no products may be sold up to that point. The exit values in this industry reflect this risk profile and are usually at several hundreds of million dollars (if not more). The industry is significantly subsidized to offset the risk, however, and most investments can be matched with roughly 30% additional public funding on average.
Quick overview: patents regulatory framework upstream of large market broadly compatible with existing solutions no serious competitors.
We have several patented technologies that enable our products to work efficiently. As a regulatory trailblazers, we also have the opportunity to control the regulatory burden for potential future competitors, thereby increasing the cost for would-be competitors. But most importantly, we are simply unique.
Nearly all cancer diagnostic companies focus on improving the actual diagnostic test or developing advanced algorithms that analyze the result. But you can’t find molecules or cells that aren’t in a sample, and you can’t find patterns in just noise. Even though powerful diagnostic tests and algorithms are valuable links in the chain, they only work on high-quality and concentration samples. And we’re the only ones focusing on procuring those.
- 50% for salaries 6x R&D FTE 1x RA manager 1x QA officer 2x founders;
- 20% overhead facility costs equipment/consumables;
- 15% external patent attorneys manufacturers regulatory consultants;
- 15% other;
- Founders with experience in molecular biology, aerospace engineering and micro-engineering
- Team with regulatory affairs manager and quality assurance officer existing investor with experience in the (adjacent) industry.
Other relevant information:
Medical devices may not be sold prior to regulatory approval (FDA in the US, CE-mark in the EU). By far most companies are acquired by large incumbents during or right after regulatory approval, without ever making revenues.
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Turnover (forecast) months 13 – 24:
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