Why invest in BIAD?
- Healthcare is changing with a global imperative to speed up the diagnostic process at reduced cost. The market is driven by both patient demand and the need to deliver cost savings to cash strapped health services. Hand held medical devices offering rapid diagnostic tests can replace slow laboratory analysis on large, expensive machines, across a wide range of indications, addressing both speed and cost issues.
One example of how Point of Care (PoC) testing has transformed patient testing is in blood glucose monitoring: Prior to PoC blood glucose monitors being available, testing involved expensive and inconvenient clinic visits. With the advent of cost-effective PoC devices a new market was opened up, rapidly expanding to over $8 billion.
The Right Market
- BIAD has two developed technologies (patents pending) for DSR (Digital Strip Reader) and COAG (Blood Coagulation Monitor). These are ready for commercialization. BIAD is currently in discussions with potential partners for both.
- BIAD has a patent application relating to a third exciting technology, MPR (Magnetic Particle Reader) has significant potential with much wider point of care diagnostic application, opening up new testing markets globally.
The Right Technologies: Already Interesting Global Players
- BIAD’s business model is geared towards creating profitability quickly with the minimum risk and cost. This is expected to be achieved by licensing technologies to large players in the POC market avoiding manufacturing, marketing and sales costs to take advantage of the quickest route to substantial revenues through main player distribution channels.
The Right Business Model
The scientists behind BIAD’s medical devices have developed our two leading technologies, DSR and COAG, at a very efficient cost to BIAD and at a fraction of the investment applied to competitive technologies.
These technologies have now generated interest from giant global players to the point where we are in discussions about commercial development and licensing for both products.
What makes BIAD Technology so special?
U.S. patented technology currently in commercial development with a global partner.
BIAD has developed a new hand-held meter technology using combined magnetic/optical detection sensors to allow self-testing and monitoring for patients at risk from the formation of blood clots. Warfarin is the common, tried, trusted and cheap long-term anticoagulant medication. Blood clotting time must, however, be carefully monitored to ensure safe dosage, resulting in regular and inconvenient clinic visits.
A hand held home testing market has started to develop, however the current devices available are both expensive and some require an uncomfortable blood sample size.
As a result, the current market is in its infancy. 9 out of 10 patients on Warfarin want to be more involved in their care decisions but over half of those not yet using a monitor don’t even know that self-testing is possible! A massive market is yet to be tapped with an estimated 7,000,000 patients on Warfarin in the Western World, with 2,000,000 patients being prescribed Warfarin each year in the US alone. In the UK, only 3% of UK heart patients on Warfarin who might benefit from self-testing do so, resulting in an additional 1.2 million person target market.
The Patient Self-Testing (PST) market consists of both device sales and repeat sales of tests strips and even though this market is highly immature the current market value of Coagulation PST is estimated at $750 million.
There are 3 main PST devices currently on the market. They are all relatively expensive and require differing sizes of blood sample, a minimum obviously being preferable to the patient and an important purchase consideration. BIAD believes its technology to be superior to any of the existing PST devices and, with the right partner, has the potential to rapidly penetrate and expand this massive market.
COAG (Blood Coagulation Monitor)
In Commercial Discussions
"There is significant consolidation in the medical device space, with global majors acquiring targets with unique technologies that fit with their strategy"
A universal digital strip readers for use across a wide range of applications initially focused as a next generation Digital Pregnancy Test for the OTC, home use market.
DSR is easily adapted into related product areas and the next step will be expansion into ovulation and fertility testing. Other potential markets include cholesterol (life style testing), cardiac markers, drugs of abuse and infectious diseases e.g. HIV, syphilis, H. Plyori and Chlamydia.
Globally the female well being market is dominated by three main players. There is a growing migration from analogue testing towards smarter digital devices to meet consumer demand. The US market alone is estimated at 20 million pregnancy and ovulation tests per year and it is estimated that $1.68 billion of pregnancy tests are sold globally each year.
The leading digital test currently dominates the digital pregnancy test market.
Elsewhere in pregnancy testing, the largest supplier in the North American region is reliant on old fashioned, optical tests, as is the market leader in Europe.
These manufacturers are believed to be either seeking a Digital Test, or to improve on what they already have.
DSR (Digital Strip Reader)
In Commercial Discussions
"$1.7 billion worth of pregnancy tests shipped each year globally."