March 2016

BUSINESS CASE MODELLING

FOR MEDICAL START UPS

If a start up is to succeed in the marketplace, it must create and deliver value for healthcare consumers and it must have a business model that is economically sustainable.

Biop Medical is a start up in Israel that has developed an optical wand that helps to diagnose cervical cancer.

The back story is interesting.

The founder, who is a female engineer, lost her best friend to cervical cancer.

Her friend had a PAP smear done that was a false negative. She died a few years after the test because the PAP smear missed her cervical cancer.

The founder decided that there was a real need to help women to avoid the consequences of the false negative.

Biop has developed an innovative technology for the identification of cancerous and pre-cancer cells in epithelial tissues.

Biop will enable point-of-care diagnosis of the entire cervix, generating a real-time map of the cervix.

Cancerous cells of the cervix have a unique signature.

Patients will receive, with near certainty, a diagnosis at the time of the test, without the wait and anxiety associated with the current, inefficient process.

By implementing Biop's technology, colposcopies with biopsies will be faster, more comfortable and more accurate.

This advanced technology utilizes several optical phenomena and a unique opto-mechanical design.

By using an advanced algorithm, the device will indicate whether cancer is present and where the cancer is located with a much higher degree of accuracy than the 75 year old PAP smear.

The business model involves the replacement of a low cost plastic cover for the optical wand.

The wand integrates with a laptop or tablet. The algorithm is in the cloud. There is a monthly charge for cloud access.

The plastic sleeves are a profit centre for Biop Medical.

The model is scaleable and sustainable and will save many lives. Amen.

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