Jefferson Lin - CEO Victor Chiang - CRO/COO Sean Cleary - CTO Shun Yu – CMO Andy Zheng - CFO Faculty Advisor: Professor Christopher Jacobs Looking to the.

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Presentation transcript:

Jefferson Lin - CEO Victor Chiang - CRO/COO Sean Cleary - CTO Shun Yu – CMO Andy Zheng - CFO Faculty Advisor: Professor Christopher Jacobs Looking to the Future: A u t o m a t e d G l u c o s e T e s t i n g

Proposed Solution Automated add-on to existing device Stationary support Requires minimal dexterity and maintenance Assists with visual impairment Current Glucose Meters Multistep procedure involving small partsRequires high dexterity and visual acuity Diabetes 50% of people who have diabetes are 60 years or older 45% have diabetic retinopathy 52% of people with diabetes also have arthritis Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

Glucose Meter Battery Pack Cover/ Magnifying Glass Test Strip Lance Rotating Disk of Lances

Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

Glucose Monitor Linear Slider Metal Spring Linear Actuator Teflon Bar Step Motor Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary Input/Output Device

Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

Company An assembly of engineers, researchers, professionals Mission Provide better convenience to people with diabetes Product A unique link between existing meters and patients Leading Edge Stationary support Automated process to eliminate need for individual handling Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

 One in three born in 2000 will have diabetes  24 million have diabetes ◦ 57 million have pre-diabetes ◦ 174 billion dollar market  Existing companies and competition ◦ Accucheck ◦ Freestyle ◦ Ascencia  No existing devices that specifically addresses the visual/dexterity impairments  Appeal to all diabetes patients with convenience and accessibility Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

 Competitive Advantage ◦ Integration of Automation ◦ Ease of Use ◦ Convenience for all ages  Target Physicians and Patients ◦ Health conventions ◦ Demo products  Risks ◦ Limited advertisement base ◦ Established reputation Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

 Competitive market – full of hurdles  Partnership  Obtain 10% of profits from sale of new disposable parts  We only manufacture add-on  Advertisement taken care of by partner company  Initially sell our device with partner’s original glucose monitor for discounted price to expand awareness of our product Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

1000 Sold in year1, 4000 in year2, in year3, in year4 Sold for $60, Profit Margin $30 Device Sales 32 Disposables sold per add-on Partnership takes 90% of add-on revenue Sold for $15-20 per pack of 20 lances or strips, Profit margin $10-15 Disposable Sales $300,000 startup costs funded by SBIR grant/SBA loans $260,000 annual company expense Administrative and Salary Expenses Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

Startup Loss - $560,000 Year 1 Loss - $211,700 Year 2 Profit - $38,300 Year 3 Profit – $998,300 Year 4 Profit - $5.4 Million Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

December 08FebruaryJanuaryAprilMarchMay 09 Finalize Design: First Prototype Plan Order Parts Prototype Development Short Term Considerations: Blood Glucose Meter Supply: (ACCU-CHEK® Compact Plus, ACCU-CHEK® Advantage®, FreeStyle Flash®, and MediSense® Precision XtraTM ) Blood Extraction Mechanism Interchanging test strips/lances Sterilization Testing/Optimization Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

May Clinical Trials at Naomi Berrie Diabetes Center (CUMC) Product Improvement FDA Approval: Obtain 510(k) Pre- market notification Market Entry: Sale of Add-on Customer Feedback/Development of 2 nd version Released 2 nd updated version of add-on Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

 Add-on to complement existing devices  Convenient, all-in-one system  Appealing across all ages Design Problem and Brief  DS5 and DS6  Executive Summary  Market and Model  Projections and Development  Summary

 Dr. Elizabeth Hillman ◦ Assistant Professor of Biomedical Engineering, Columbia University  Dr. Christopher Jacobs ◦ Associate Professor of Biomedical Engineering, Columbia University  Keith Yeager ◦ Laboratory Assistant Manager, Biomedical Engineering  Naomi Berrie Diabetes Center ◦ Dr. Golden, Endocinologist ◦ Patricia Kringas, RN ◦ Brian Park  Dr. Edward Guo ◦ Professor of Biomedical Engineering, Columbia University  Dr. Lance Kam ◦ Assistant Professor of Biomedical Engineering, Columbia University  Dr. Helen Lu ◦ Associate Professor of Biomedical Engineering, Columbia University

Living with diabetes can be complicated. Let GlucoVision make your life easier. Adapted from Bayer Diabetes