Frontier Bio Corporation has announced a groundbreaking achievement in lab-grown lung tissue. By combining 3D bioprinting...
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Opportunity
Towards On-Demand Organs
Only 10% of the global organ demand is met, according to the World Health Organization, and there are over 150,000 organ transplants per year.
Frontier Bio aims to eliminate the organ transplant waitlist by creating human organs in the lab.
This is an ambitious goal. So how do we get there?
Product
An Alternative to Animal Testing
We're starting by creating lab-grown human tissues for use as a better replacement for animal studies. We've already generated $5.2M in sales for various applications.
Hundreds of millions of animals are used for medical device testing, drug development, and disease modeling. ~90% of drugs that work in animals end up failing in human clinical trials, often costing billions of dollars.
Human tissues allow more relevant data to be generated in comparison to animals.
We generate most of our revenue by developing tissue products for customers performing research traditionally done in animals.
Towards Implantable Tissues
Our first implantable tissue for patients will be a tissue-engineered blood vessel product.
Synthetic vascular grafts implanted to treat Peripheral Artery Disease have a failure rate of 65% within 2 years of implantation. The gold standard is to use a vessel or vein from another part of the body, but the availability is limited, they are invasive to harvest, and this adds a lot of time to the surgery. Frontier Bio aims to create implantable living blood vessel grafts with a much lower failure rate compared to synthetic vascular grafts.
Beyond blood vessels, Frontier Bio's technology is applicable to various other tissues like kidney, liver, heart, and lung. We've made a giant leap in the creation of lab-grown lung microtissue and are working towards scaling the technology to larger and larger sizes.
Traction
We've had the pleasure of working with some big names in the industry like Mayo Clinic and Intuitive Surgical. We've worked with many other organizations including government, medical device companies, Universities, and startups. Our sales have reached $5.2M.
We've been awarded a National Science Foundation SBIR grant for our innovative work. We also have support from StartX - a Stanford-affiliated accelerator supporting promising startups.
Our efforts have attracted ~$3.5M in funding from various angel investors and VCs.
Business model
In the long-run, Frontier Bio aims to supply lab-grown organs, like lungs and kidneys, to hospitals. There is a big demand for simpler tissues like blood vessels as well, which Frontier Bio is working on (funded in part by the NSF, and in collaboration with Mayo Clinic).
Currently, we are selling our tissues and tissue engineering services to customers that are working on applications that would normally require animal testing.
For example, with one customer, we are developing a "brain-on-a-chip" for them to study Traumatic Brain Injury (TBI) - a research field that traditionally uses animals. TBI can be experienced by people who play sports, soldiers, crash victims and more. The $1.1M contract is split into development milestones, delivery of chips, and an optional supply agreement. Frontier Bio is free to commercialize the chips to other customers after it's developed.
We’ve successfully executed multiple projects across different clients, enhancing our products, services, and intellectual property. As we expand into the pharmaceutical sector, our larger contracts will address a critical industry challenge: the high failure rate and costs of drug development. By testing drugs on human tissues produced by Frontier Bio, we aim to significantly reduce the inefficiencies and financial losses associated with drugs that fail in human trials.
Vision and strategy
A Bold Vision
We strive for a future where life-saving organs are readily available, and medical research progresses without the use of animals.
According to BCC Research, in 2023, this market was over $100B with a 34.8% growth rate. The market is vast and shows signs of significant momentum.
To help us on our way to eliminate the organ transplant waitlist, we are generating revenue from customers who have a need for our lab-grown human tissues and tissue engineering services for applications that traditionally would be done in animals.
Animal studies often don't translate well to humans, but the FDA historically has required them. However, the recent FDA Modernization Act 2.0 allows for animal trial alternatives to be used instead of traditional animal modeling.
This regulatory change marks a pivotal moment for our industry. Frontier Bio is leading the way, transforming medical research and patient care to bring our visionary future into reality.
Leadership
Frontier Bio's innovative team consists of entrepreneurs, scientists, and engineers. Together, we're shaping the future of engineered tissue.
Leadership Team:
Eric Bennett, CEO: Eric is a serial entrepreneur with deep expertise in developing advanced technologies. As former CTO of Aether, he led the creation of affordable, feature-rich bioprinters. His scientific background spans brain-computer interfacing, optogenetics, microfluidics, DNA assembly, and bioprinting. He holds a Master’s in Biomedical Engineering, focused on using optogenetics and brain-computer interfaces to address neural disorders. Eric is driven to create transformative technologies that push boundaries.
Samand Pashneh-Tala, CTO: Sam completed his PhD and fellowship at the University of Sheffield. His research focused on producing tissue-engineered blood vessels for clinical and in vitro applications, including collaborations with leading medical device and 3D printing companies. Prior to joining Frontier Bio, Sam ran a boutique consultancy firm for tissue engineering and advanced medical device design, working with industry and academic clients.
Victoria-Elisabeth Gruber, Head of Translational Research: Victoria is an expert in 3D cell culture models and neuropathology. Prior to joining Frontier Bio, she was a Postdoctoral Fellow at Harvard Medical School where she researched the genetics of tuberous sclerosis complex. She has a doctorate in Clinical Neurosciences and a master’s degree in Biochemistry. In 2022, she received the Herbert-Reissner Prize for her outstanding work in epilepsy research. Currently, she leads the development of neural technologies at Frontier Bio.
Disclaimers
Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Except where otherwise indicated, the information herein was compiled as of October 22, 2024 and Frontier Bio Corporation does not have any obligation to update material.
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