Oops! We couldn’t find any results...
6 drug delivery innovations you need to know
MassDevice
·
Jul 28, 2022
From wearable insulin delivery devices to drug-eluting implants and everything in between, drug delivery innovation never...
Problem
Self-injecting medications can be uncomfortable and overwhelming
After interviewing patients and physicians, we have discovered three common points of friction:
- Needle phobia: Needles can cause psychological fear and 80% of patients prefer an alternative over needles due to the pain and skin irritation caused by the needles.
- Complicated treatment management: Managing the whole self-injection process, from drug preparation, and drug administration, to treatment monitoring, can be complicated.
- Lack of treatment monitoring: There is an addressable informational gap between the providers and patients in remote healthcare settings, potentially leading to a high administration error rate and low therapy adherence rate.
Solution
The NovaXS needle-free injection system
for managing and administering self-injections
NovaXS has created a smart needle-free injection system that simplifies the medication self-administration process and improves remote treatment outcome, allowing patients to draw the medications from the vial, expel the air bubble in the cartridge, varify the dosage volume, administer the medications and track treatment progress with one simple click on the device.
—
NovaXS targets a wide
range of indications
—
Product
Improved treatment outcome & patient experience
NovaXS' smart needle-free injector enables patients to administer a narrow stream of medication to penetrate the skin to subcutaneous or intramsucular level of the body within 0.3 second.
The pain level is much lower compared to needle injections.
—
Patient-centric treatment monitoring
—
The treatment calendar is generated based on the providers' E-prescription and an injection reminder would be sent as a push notification prior to each injection. Injection data is collected by the device to inform doctors to make more personalized treatment plan. Patients could communicate and report any side effort to doctors on their phones now.
Traction
NovaXS
accomplishments to date
- Fundraising: We’ve raised over 1M from Baxter, Edward-Elmhurst Health, and institutional VCs.
- Market validations: Signed 8 letters of intent with In-Vitro Fertilization clinics, including Jinxin Fertility (HKG: 1951), and a preclinical partnership with Helixmith (KOSDAQ: 084990) and QB3 Laboratory.
- Tier-1 accelerating programs: graduated from NSF I-Corps, mHUB MedTech Accelerator, Berkeley Skydeck Pad-13 program and USC Troylabs.
—
Excitement acknowledged by industry leaders
—
Trusted by world-famous Pharma & leading In-vitro Fetilization centers
—
Featured by the media as
"Top 6 Drug Delivery in 2022"
We have received incredible PR coverage from leading publications, including:
Business model
Potential revenue from sales & licensing
NovaXS' needle-free injection system could generate revenue from two business models
...Not to mention the insurance
reimbursement opportunity:
As insurance companies are shifting from paid-for-visit to paid-for-outcome, Remote Therapeutic Monitoring (RTM) codes enables the reimbursement of medical devices that could collect remote therapy adherence data and deliver better care.
Market
Global injectable drug delivery market on the rise
Over 21M people undergo injections therapies. The total available market size was valued at over 620 billion in 2021. There is a clear trend that more injectable therapies are looking for a more convenient and effective delivery method that improves patient compliance and experience.
Initial Target Market: Infertility
Why IVF?
U.S.A. and China are two focused regions. The infertility rate in both countries is over 18%. According to Ping An Insurance (OTCMKTS: PNGAY)'s market research, there are 9.6 million increase in new patients within 3 years.
Competition
Competing needle-free products fall short
Our positioning and intellectual property provide a strong and protected competitive advantage in the drug delivery market:
- A patient-centric approach to make self-injections as easy as making morning espresso from the coffee machine
- Unique value proposition centered around remote healthcare optimization and personalized treatment plan
- 4 pending patents on our product and technology
- In-house engineering & scientific talent to improve and diversify our technology
- Top industry-related investors and advisors to provide guidance and proper introductions
IP Defensibility & Core Technologies
Vision and strategy
Targeting commercial product launch in Q2 2024
Within 2 years, NovaXS has built meaningful partnerships with industry leaders and is backed by one of the biggest healthcare tycoons in the world, Baxter Healthcare. NovaXS is aiming to become the most commonly-used medication self-administration monitoring platform. NovaXS is projected to hit $102M in EBIT by 2027.*
Based on comparable brands that went public or get acquired, NovaXS should reach 500M valuation in the next 3 years once it secures more partnerships with Pharmapheutical companies (CDAs signed with Eli Lilly, Merck, and Ferring Pharmaceuticals already) and launches the product in the market (a 30x return on your investment. This will put us in a great position for going public via IPO or to be strategically acquired.
Potential ROI
Funding
VC and health industry backing
Prominent investors include Baxter Healthcare, Edward-Elmhust Health, NewGen Venture Partners, mHUB Product Impact Fund, Courtyard Ventures, Sean McKibben (former president at Mount Carmel Hospital) and more.
Founders
Built by a group of inventors, scientists, entrepreneurs, and healthcare executives
with 4 successful startup exits and an average of 12 years of industry experience.
Our founder Alina (Rui), a Harvard Medical School Bioengineering PhD candidate, has been on a journey to improve patient experience and treatment outcome via inventions. Our co-founder Jonathan (Tianyi), a MBA canddiate at University of Chicago Booth School of Business, is a serial entrepreneur with successful business exits. Our co-founder, Alex, a PhD candidate in electroengineering at UC Berkeley, has 10+ year experience in industry design.
Together, they wanted to innovate and transform the medication self-administration to deliver more personalized and better remote care.
Summary
Nova XS offers a compelling value proposition for all stakeholders
We are seeking growth capital to help us bring our cutting-edge technology to the market. Capital raised here on Republic will be used to technology optimization, device and animal testings, and key hires. In 2022, we built our core technology recognized by MassDevice as the "Top 6 Innovations in Drug Delivery in 2022" with minimal team and budget. Imagine what we could do with your support!
- Wide Applications
- Improved efficiency
- Better treatment tolerance
- Patient behavior data
- Adherence tracking
- Lower insurance cost
- Better remote care
- Fewer administration errors
- Therapy adherence tracking
- Needle-free and painless
- Fewer skin irritations
- Personalized care
