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Published byJames Watkins Modified over 9 years ago
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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
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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
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Glucose Meter Battery Pack Cover/ Magnifying Glass Test Strip Lance Rotating Disk of Lances
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Design Problem and Brief DS5 and DS6 Executive Summary Market and Model Projections and Development Summary
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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
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Design Problem and Brief DS5 and DS6 Executive Summary Market and Model Projections and Development Summary
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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
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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
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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
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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
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1000 Sold in year1, 4000 in year2, 16000 in year3, 64000 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
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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
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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
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May 20092011201020122013 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
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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
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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
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Living with diabetes can be complicated. Let GlucoVision make your life easier. Adapted from Bayer Diabetes
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