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Monday, September 10, 2007
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Sensor Biomed Corporation
A Medical Devices Company
About
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Sensor Biomed Corporation is a startup developing medical devices for diagnosis and therapeutic management of chronic vascular diseases such as peripheral artery disease (PAD) and cerebrovascular disease. As these diseases progress, supply of oxygen-carrying blood to microvessels of the lower legs and brain is steadily reduced. This results in tissue that is starved of vital oxygen and which eventually dies. PAD affects 12 million Americans primarily over age 50, with diabetes increasing the chance of developing the disease sooner. PAD patients are at 4X-5X increased risk of death from heart disease. Critical limb ischemia (CLI), a severe form of PAD, affects 800,000 patients and can lead to gangrene and limb amputation.
While technologies such as MRI and CT have been developed for sensitive detection of vascular disease affecting these microvessels, safe, accurate, portable, cost-effective instruments to rapidly measure vital changes in both blood flow and tissue oxygen have not been available until now. Sensor Biomed has acquired rights to proprietary technology based on near infrared optical spectroscopy to non-invasively measure these changes in real-time, specifically in these microvessels. Benefits include quicker testing, sensitive detection of PAD, and safe, cost-effective assessment of revascularization efficacy. The size of this new PAD diagnostics market in the U.S. is estimated to be ~$1B, growing at 14% annually. Prototypes have been tested in human proof-of-concept clinical studies and clinical trials are expected to start in early 2008.
3 Major Issues
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- The company's product could assist in regulating the use of drugs to treat peripheral vascular disease. It could also facilitate the pre-market testing of these drugs. As an early-stage startup, how and when should the Company develop a relationship with relevant pharmaceutical companies to have them use its device in their clinical research and trials? Should they consider more than one partner and how much would it 'cost' to manage these relationships?
- When can a medical devices startup reasonably choose to broaden its product portfolio? Should it wait until the first product is in the FDA approval process pipeline, or wait until this product is launched? The stroke management market is seen as another attractive market, but therapy is not yet well defined. However, investigative use of the Company's product could expand clinical research and accelerate market development.
- What key value-adding milestones need to be met before Sensor Biomed can seek VC funding?
Program:
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6:30 - Cocktails & Dinner (Cash bar and special 2-entree buffet menu)
8:00 - Nanda Ramanujam, PhD, MBA, Founder and CEO of the Company, will deliver the Company's "Elevator" Pitch to the Group
8:20 - Panel addresses 3 major issues for Sensor Biomed
9:00 - Open discussion: members and guests
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