tonometer final nsf i-corps presentation
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12/14/2011
Home Tonometer
The University of Arizona
Eniko Enikov - PIVasco Polyzoev – EL
Emre Toker – MentorGholam Peyman, MD co-founder/co-inventor
(and 11 customers we talked to)
12/14/2011
The ICORP Team
• Eniko T. Enikov – PI- PhD, Assoc. Professor in Mechanical
Engineering
- co-Inventor
• Vasco Polyzoev – EL- PhD, Post-Doc Research Associate in
Mechanical Engineering
• Emre Toker – Mentor- Angel Investor
12/14/2011
The Technology
• Self-performed, non-invasive (over the eyelid) tactile tonometry device for glaucoma patients
12/14/2011
Home-use serial tonometryValue Proposition
• Repetitive measurement of eye pressure indicated for 3.2M glaucoma patients; 1% utilization despite $81 reimbursement
• Performed each month at home by the patient $81 x 3.2M patients x once a month = $3B in new annual reimbursement revenue ($500,000 for average ophthalmologist)
Glaucoma : if you are over 40,you might be going blind! Do you know your IOP?
12/14/2011
Must Have’s
• FDA 510(k) approval – equivalence to gold standard
• Acceptance by clinical community (beyond FDA approval)
• Continued reimbursement of remote interpretation of home tonometry
• Patent issued (US)
12/14/2011
Price
• High volume COGs ~$100
• Price survey of ophthalmologists: ~$315/unit
• $315 x 3.2M patients = $1B total market
• Additional annual reimbursement revenue to ophthalmologist per device/patient: $81 x 12 months = $972
12/14/2011
Competition
Diaton - $2500
Icare - $3500
Tonopen - $1500
12/14/2011
Initial Idea
• We will make a great home tonometer and every glaucoma patient and every ophthalmologist will want to have it (at any price)…
• Insurance/Medicare/VA will pay for it too, because it will save costs of transporting elderly and disabled to eye clinics…
• We can sell it off of our website and handle all the transactions, etc… but will allow help from distributors
12/14/2011
Initial Business Model Canvas
12/14/2011
Revised Ideas(after talking to 8 doctors (phone & in person) and 3 patients (forum))
• We will need the help of doctors to gain acceptance of the home tonometer to glaucoma patients
• NOT every ophthalmologist will want to have it (definitely NOT at any price)…
• Already an existing reimbursement for serial tonometry
• Maybe have a research version for animal research labs(extra revenue pre-FDA)
12/14/2011
Business Model Canvas 2
12/14/2011
New Inputs(after talking to 5 distribution companies)
• We will need a GAT -comparable accuracy to get doctors interested in our tonometer
• Suggestion to emulate hearing aids distribution and consign an inventory with doctors.
• Patient gets fitted with a tonometer in the doctor’s office.
Key Idea: One tonometer -> fits all !!!
Patent pending
12/14/2011
Business Model Canvas 3
12/14/2011
More Inputs(after more discussions with 6 doctors and reflecting on operations and
partnerships)
12/14/2011
Business Model Canvas 4
12/14/2011
Distribution and Marketing Diagram
12/14/2011
Next Steps
• Develop limited clinical evaluation using ~50 patients and confirm correlation with GAT and accuracy.
• Seek VC/SBIR funding for larger clinical evaluation and FDA approval
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