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Modularm Helping you reach forward November 30, 2005 University of Toronto Cary Fan, B.A.Sc. Catherine Kang, M.Sc. Ellen Kang, M.A.Sc. Tomasz Szwedowski, B.A.Sc. Weijia Wang, B.Sc.
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Modularm Outline The Problem The Solution The Hurdles The Opportunity
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Modularm The Problem 7,350 annual upper limb amputation distal to elbow under 21 1 years of age Current solutions do not meet the needs that are unique to children and adolescents 1.American Academy of Physical Medicine and Rehabilitation
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Modularm The Problem Natural growth and development can render any functionality or use is no longer possible Such rapid growth requires frequent replacement of prosthetic making such products financially burdensome on families and wasteful
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Modularm Current Technologies Two major types of prosthesis available: Cosmetic prosthesis Look natural, lightweight Short product life, limited functionality Functional prosthesis Some functionality Generally electrically powered Cumbersome, greater maintenance required
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Modularm The Solution: Modularm It’s more than just another prosthesis: it’s a platform! –Grows with its owner
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Modularm
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The Solution: Modularm It’s more than just another prosthesis: it’s a platform! –Grows with its owner –Incorporate different modules to expand its capabilities as the technology becomes available
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Modularm Adapt to your needs
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Modularm The Solution: Modularm It’s more than just another prosthesis: it’s a platform! –Grows with its owner –Incorporates different modules to expand its capabilities as the technology becomes available –Incorporates a variety of customizable sizes
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Modularm The Solution: Modularm It’s more than just another prosthesis: it’s a platform! Product –State-of-the-art prosthesis representing best of its class in durability and usability Platform –Specification –Form factor –Creates capacity for interoperability between different modules
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Modularm Hurdles: Patentability ToMPAW (Total Modular Prosthetic Arm with high Workability) –Edinborough-Oxford research group –Not a commercial product Universal Access and Assistive Technology, (2002) Keates & Langdon (Eds)
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Modularm Hurdles: Patentability No patents describe Modularm’s potential to be constantly adapted to its owner while offering best-in-class performance and appearance Novel, useful, and non-obvious This platform is patentable
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Modularm Regulatory: FDA Approval Prosthetic is considered a medical device Class I –510(k) & PMA EXEMPT –Good Manufacturing Practices EXEMPT 21 CFR Part 890.3420 & 890.3025 apply i.Manufacturing records, complaint investigation/FDA report system ii.General controls 1. Establishment registration 2. Medical Device Listing 3. Labelling 21 CFR Part 801 or 809
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Modularm Milestones Modularm Timeline Milestone20062007200820092010 Patent Filing Proof of Concept Build Prototype of Platform Product Obtain FDA approval Mass Production of Device Obtain Further Funding Positive Cash Flow Development of Accessory Products Obtain 10% of Market
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Modularm 5 Year Cash Flow Projection Sales is exponentially increasing Obtain further funding in 2008
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Modularm Summary Kids outgrow their prostheses as often as they outgrow their shoes Modularm represents a lucrative platform offering best-in-class capability –Different modules and options –Reduce total number of complete prostheses a child goes through while growing up
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Modularm Summary No existing patent that encompasses Modularm’s capability Class I Device –Relatively few hurdles
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Modularm Summary Initial investment of $1,000,000 Estimated value of Modularm after 5 years: $6,000,000 and rising! GREAT OPPORTUNITY!!!
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Modularm Thank You Questions?
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