The company has developed a unique all-around solution for in-home quantification of primary cardinal symptoms of Parkinson’s disease (PD).
They will solve the high misdiagnosis speed, provide accurate clinical disease management, and provide close loop feedback within neurosurgical operations. The technology is protected by two patents that enables reliable bio data gathering.
The company have global ambitions, targeting the largest and fastest growing markets within Parkinson’s.
1.Is the plan for investment strategy attractive for VC and Business angels? Is the business development plan robust?
2.Is the revenue model for HaaS (Hard as a Service) and SaaS (Software as a Service) for medical device realistic?
This SPRINGBOARD® will be held in Danish / Dette SPRINGBOARD® vil blive afholdt på Dansk
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The Company and the Idea
The wearable device sleeve is unique, due to its capability of measuring not only electromyography but provide a large screening area of the muscle group. The hardware can provide quality metrics on the obtained bio signals, thus increasing the sensitivity and reliability during remote observation.
The Product
The product is a wearable textile sleeve and a companion software platform, which gives an insight in motor fluctuations during in-home measurements. The solution solves the unmet need for reliable quantification of primary cardinal symptoms.
Business Model
The business model is currently based on HaaS (Hardware as a Service) for the sleeve which includes maintenance, setup and assistance, while the software part is operating with a SaaS model.
Customers
The short-term customers are pharmaceutical and researchers within CNS, providing a B2B sales model, while for the long term after regulatory approval is targeting hospitals and clinics with a B2G model.
The Market
The addressable market is 42Bn euros, across researchers with 1.8Bn euros, pharmaceutical with 2.2 Bn euros and hospitals with 40Bn euros.
Competition
No direct competitors which can provide quantitative feedback for all main cardinal symptoms, however Global kinetics, Kinesia360 and others are providing smart-based watches (like Fitbit, Applewatch etc.) but they are only kinematics based and thus only capable of providing overview for basic movement symptoms.
Potential/Goals/Ambitions
Become a front runner in the diagnosis and treatment of movement disorders, utilizing a data-driven standard. The company have global ambitions, targeting the largest and fastest growing marked within Parkinson’s, namely the US, Japan, Europe and south Korea.
Management & Team
The management team have a background covering electrical engineering, neuroscience, and economics guided by former industrial leaders within pharma and medical devices as advisors.
Finances
The company have bootstrapped 370K euros until now, to reduce the risk for external investors before reaching current stage. The company have proved the technology in a remote setting, as well as developed and produced 20 sleeve units for clinical studies.
Status
The company has 2 granted patents in DK and currently PCT filing is ongoing targeting US, EU, JP and south Korea. The company is currently doing international collaboration with leading neurologist and researchers and is undergoing a clinical study with Odense Universitets Hospital and PD volunteers through the Danish Parkinson’s association.
Questions for the panel
1.Plan for investment and business development
Is the companies investment strategy attractive for capital-risk VC and Business angels?
Is the business development plan robust, or identified any large gaps?
2.Revenue model for HaaS and SaaS for medical device
Is the revenue model realistic for Scandinavian-based healthcare system?
Is the revenue model realistic for pharmaceutical companies?
3.Long term company exit strategy
Is the long-term company exit strategy attractive for investors?
