Business Idea Competition: Concept Innovate
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Business plan strategy for BIC.
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Business Idea Competition: Concept Innovate
- 1. Concept Innovate presents: ResveraTech Chiao Chang Prateek Diwan Lucas C Rodriguez
- 2. Chronic Pain Man On Fire: • 25% of Americans suffer from chronic pain • Nearly 50% do not get effective relief from current therapies • Post surgical pain often clear culprits • In many common conditions such as diabetic neuropathy, no clear source of pain is found. • The annual cost of chronic pain is as high as $635 billion a year, which is more than the yearly costs for cancer, heart disease and diabetes.
- 3. ResveraTech Amare Stoudemire… Why are you in a tub of wine??? Innovation of tomorrows pain relief solutions
- 4. • All natural (homeopathic) • Found in wine, and dark chocolate • Potential usage: • Heart Disease • Cancer • Metabolism • Lifespan • Pain relief Resveratrol
- 5. Types of Pain Types of pain… How is it currently treated??? What can be done???
- 6. Types of Pain Acute Versus Chronic
- 7. Biochemistry of Pain Pain Activator Pain Activator Middle -Men Middle -Men Complex Ribo
- 8. Efficacy
- 9. Market • OTC market as of 2013 ~ $6Billion • Internal Analgesic ~ 60% • External Analgesic ~ 15% • GIA estimates $34.6Billion in analgesic market by 2015.
- 10. Platform Technology ResveraDerm Creme Pain Relief Patch Post-Surgical Pain Relief Bandage Pain Relief Sutures
- 11. Marketing Plan ResveraDerm Clinical Feasibility Study Customer Acquisition and Backing • Physical Therapists • Elderly post-surgery patients • Orthopedics • Sports injury • Chiropractors • Homeopathic • Medical spas and Compounding Pharmacists • Massage • Homeopathic • Western Medicine • Pain Relief Centers • Desperate for pain relief
- 12. • Finish development of platform • CMO manufacture agreement • Data acquisition for downstream (IP protection) • Website Design • Clinical feasibility • Large retail Sales • Website • Clinic / Retail • Distributer Strategy
- 14. R&D Manufacturer • BASF is an international chemical manufacturer • Agreement in place: ResveraDerm development Contract Manufacture • Manufacture product for : • Fee for service • Royalty • Save startup capital
- 15. Timeline SBIR/STTR Phase I Approval Soft Launch ResveraDerm (Clinical Feasibility Study) Downstream Product IP Acquired Hard Launch ResveraDerm (Large Retail) Phase II Approval (Development of Downstream Products) • Downstream Product Development • 2 years : $750k Business Planning Begin • Phase I: • Feasibility • Clinical Study • 6 months : $150k • Hard Launch ResveraDerm • Phase II: • Phase III (Commercialization) • Angel/VC: • Strong track via SBIR • Manufacturer contract • Ready for sales 2011 2012 2013 2014 2015 2016 2017 2018 Phase II Complete (Patch, Bandage, and Sutures Ready for Launch) Phase III Begin (Commercialization, Angel/VC Funding) Hard Launch Patch, Bandage, Sutures Break Even Phase I End Submission of SBIR/STTR Draft of SBIR/STTR Publication III Publication II Publication I
- 16. $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $0 Projections Revenue vs. Unit Sales 8000 58,000 118,000 178,250 239,750 301,750 364,750 Units Sold Sales Total Costs Fixed Costs: $626,820 Variable Cost per Unit: $3 Unit Price: $7.20 Unit Increments: 10,000 BREAK-EVEN POINT: 149,243
- 17. Revenue Projections • Fixed and variable costs analyzed • Conservative Assumptions • low price point • two marketing channels • Concentrate efforts on TX, NM, AR, LA • Market penetration based on Lidoderm 1999 • Manufacturing keeps up with sales Sales in Millions $0.10 $2.00 $10.00 $5.00 $50.00 $100.00 $100.0 $90.0 $80.0 $70.0 $60.0 $50.0 $40.0 $30.0 $20.0 $10.0 $0.0 2014 2015 2016 2017 2018 2019 2020
- 18. Financials TOP DOWN Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Market $500,000,000.00 $500,000,000.00 $500,000,000.00 $500,000,000.00 $500,000,000.00 $500,000,000.00 Penetration 0 0.1% 0.2% 0.4% 0.8% 1.6% Rev $- $500,000.00 $1,000,000.00 $2,000,000.00 $4,000,000.00 $8,000,000.00 Costs $- $650,000.00 $767,000.00 $905,060.00 $1,067,970.80 $1,260,205.54 Profit $- $(150,000.00) $233,000.00 $1,094,940.00 $2,932,029.20 $6,739,794.46 BOTTOM UP Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Units 0 50000.00 87500.00 153125.00 267968.75 468945.31 Locations (at 2:1 C:R) 0 125.00 218.75 382.81 669.92 1172.36 Sales Rev 0 500000.00 875000.00 1531250.00 2679687.50 4689453.13 Costs $ - $650,000.00 $767,000.00 $905,060.00 $1,067,970.80 $1,260,205.54 Profit $ - $(150,000.00) $108,000.00 $626,190.00 $1,611,716.70 $3,429,247.58
- 19. $(150,000) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Financials $7,500,000.00 $6,500,000.00 $5,500,000.00 $4,500,000.00 $3,500,000.00 $2,500,000.00 $1,500,000.00 $500,000.00 (150,000) $(500,000.00) Sales in Millions
- 20. Concept Innovate • Well-Educated • R&D Experience • Marketing • Sales • Motivated • Adaptable • Strong Strategy • Mentor Backing
- 21. Team Greg Dussor Ted Price Jackie Kimzey Madison Pedigo Inventors Mentors
- 22. In Summary… • All-natural, homeopathic substance • Low cost • Available • No side effects • Proven Effectiveness • Multiple Usages (Platform Technology)
Editor's Notes
- Need to develop metrics to grade the company. Defines basis for an organization-wide performance “report card” Time to market push Look into a cost play- need to compete with cost – cost parity or cost advantage NRG neuro research group Effictive ? But much cheaper Can we overlay other rat model studies to show to ours may be more effictive Get otc office to say they will help
- Graph needs to be simplified
- Graph needs to be simplified
- Can bring the pain tolerance back to normal levels.
- Say something about phase I phase II and Phase III of development
- How much product do they move ? How much can we make on that ? Wellness international – off toll road – look into them . (WIN) Nigel branson- first fitness nutrition Craig keeland – CK Management – whole 5 – look into if we want to see them. How can I test my product with you. How much product do you move every month? How do you vet the products you bring in and sell? Can I give samples and then interview patients before and after??? Do a little study in your clinic
- Finalize crème Obtain prelim data for patch and stiches File patents on crème, patch, and stiches Launch crème Finish develop of patch and stiches, wait for patent, get FDA, start clinical trials
- Single clinic : 3-5 units per day Up to 100 units per month Clinical study : 6 clinics over 6 months