tonometer final presentation

17
12/14/2011 Home Tonometer The University of Arizona Eniko Enikov - PI Vasco Polyzoev – EL Emre Toker – Mentor Gholam Peyman, MD co-founder/co-inventor (and 11 customers we talked to)

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Page 1: Tonometer final presentation

12/14/2011

Home TonometerThe University of Arizona

Eniko Enikov - PIVasco Polyzoev – EL

Emre Toker – MentorGholam Peyman, MD co-founder/co-inventor

(and 11 customers we talked to)

Page 2: Tonometer final presentation

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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

Page 3: Tonometer final presentation

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The Technology

• Self-performed, non-invasive (over the eyelid) tactile tonometry device for glaucoma patients

Page 4: Tonometer final presentation

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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?

Page 5: Tonometer final presentation

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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)

Page 6: Tonometer final presentation

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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

Page 7: Tonometer final presentation

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Competition

Diaton - $2500

Icare - $3500

Tonopen - $1500

Page 8: Tonometer final presentation

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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

Page 9: Tonometer final presentation

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Initial Business Model Canvas

Page 10: Tonometer final presentation

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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)

Page 11: Tonometer final presentation

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Business Model Canvas 2

Page 12: Tonometer final presentation

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

Page 13: Tonometer final presentation

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Business Model Canvas 3

Page 14: Tonometer final presentation

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More Inputs(after more discussions with 6 doctors and reflecting on operations and partnerships)

Page 15: Tonometer final presentation

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Business Model Canvas 4

Page 16: Tonometer final presentation

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Distribution and Marketing Diagram

Page 17: Tonometer final presentation

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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