1 / 15

The Idea

The Idea. Karen Boezi. The Idea. Finding Ideas Evaluating Ideas Reevaluating Ideas. Where’s the Idea?. Start by determining market needs Your own clinical experience Interviews with physicians/researchers Literature review. Market Need Evaluation is Critical. # patients # diagnosed

holli
Download Presentation

The Idea

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Idea Karen Boezi

  2. The Idea • Finding Ideas • Evaluating Ideas • Reevaluating Ideas

  3. Where’s the Idea? • Start by determining market needs • Your own clinical experience • Interviews with physicians/researchers • Literature review

  4. Market Need Evaluation is Critical • # patients • # diagnosed • # poorly served by existing technology • Why poorly served?

  5. Market Need Evaluation is Critical • Disease severity of poorly served? • Invasiveness supported by severity? • Device vs. drug approach? • Target physicians

  6. Market Need Evaluation 2002 • Medical Management (2.2 mm) • - Analgesics - Clot management - Cessation of smoking • - Increase exercise - Decrease in Lipids • Intervention (600k) • - PTA - PTA / Stent • 3. Surgery (200k)

  7. Market Evaluation: Must Have Conclusions • Market segment worth pursuing • Accurate problem definition Features of ideal solution

  8. Identifying “Ideal Solution” Technologies • In-licensing • PTO/literature/database search • Academic? • Defunct corporation? • Outside Area of corporate focus? • Independent IP attorney contacts IP attorney/tech transfer office • Networking

  9. Identifying “Ideal Solution” Technologies • De novo approach • Clinical & technical expert partnerships • Use of existing technology in new, non-obvious ways • Twist on competitive approach

  10. Evaluating Technologies • Demonstrable Value - Reduced cost of care? - Improved safety? - Improved efficacy? Acute Chronic Quality of life

  11. Evaluating Technologies: Pre-approval considerations • Physician controlling patient • Skill set • Mindset • Integration into workflow • Competition • Direct and indirect • Intellectual property • Freedom to operate • Barriers to entry

  12. Evaluating Technologies: Pre-approval considerations • Regulatory requirements • Pathway • Endpoint • Trial size to meet endpoint • Control arm requirements/enrollment • Follow-up requirements

  13. Evaluating Technologies: Post-approval considerations • Reimbursement • Physician (PCT) • Facility (APC, DRG, etc.) • COGS • Raw material cost / availability • Labor requirements • Manufacturing scalability • Distribution requirements

  14. Evaluating the Idea Freedom to Operate Reason-able High & Existing Large High Easy A Few Small Low Difficult Crowded Difficult Not novel/ Infringement Low/ No Codes Competition Regulatory MarketSize MarketNeed SwitchingCost IntellectualProperty Reimburse-ment

  15. Venture Investor Return Considerations Annual IRR (%) MultipleProceeds/Cost 36 31 Capital Raised Years Assumes $30MM raised Assumes $200MM acquisition25% CS/options=$150MM to investors

More Related