PRODUCT DEVELOPMENT IN LIFE SCIENCE & HIGH TECH STARTUPS… · 2017-01-04 · 1 PRODUCT DEVELOPMENT...
7
1 PRODUCT DEVELOPMENT IN LIFE SCIENCE & HIGH TECH STARTUPS: Will you Help Key Stakeholders January 3, 2017 Martin Sklar, President & CEO AblaCor Medical Corporation (O) 781-444-1970 (M) 781-248-6841 www.ablacor.com [email protected]
Transcript of PRODUCT DEVELOPMENT IN LIFE SCIENCE & HIGH TECH STARTUPS… · 2017-01-04 · 1 PRODUCT DEVELOPMENT...
1
PRODUCT DEVELOPMENT IN LIFE SCIENCE &
HIGH TECH STARTUPS:
Will you Help Key Stakeholders
January 3, 2017
Martin Sklar, President & CEO AblaCor Medical Corporation
(O) 781-444-1970 (M) 781-248-6841 www.ablacor.com
2
My Bio
• Engineer, Manager, Business, Quality & Regulatory
• number of successful medical products
• Six startups – 2 sold, 1 cashed out
• > $1 B revenue generated for employers and clients
• Patents 13 issued and 7 pending
• Co-Founder and first President of MDG
• Co-founder of two Med-tech consulting companies
• Co-founder of AblaCor Medical Corporation
3
Current Opportunity
Business Develop revolutionary products to transform ablation into a first-line Atrial Fibrillation (AF) treatment
Problem Globally: ≥ 30% of all AF ablations repeated/yr
Target Market Size Globally: $1.2B market with 300K ablations/yr
Patents 3 issued & 7 pending
Competitive Advantage reduces repeat procedures to ≤ 10%
Investment $1.5M to design, build & test CircumBlator™ System
Validation Electrophysiologists, Cardiologists, Analysts
4
P’s are Wild
• Problem
• Pervasive?
• Potential?
• Practical Solution
• Patentable
• Profitable?
• Plan
• Partnering
• Perseverance
5
What you need to consider - Business q Unmet need
q Who are the customers?
q What is their pain? q What are current solution(s)?
q What will compel customers to change to your solution?
q Focused Market Size
q Innovative concept v Features v Benefits
q Is it Protectable v Patentable v FTO
q Reimbursement
q Regulatory
q Team
q Development Plan v Realistic v Proof-of-concept v Testing v Risks
q Financials
v Cost to Commercialization v Investor excitement
§ Exit § ROI
q Build for business, not a sale
q Compelling story
6
What you need to consider - Personal q What are your goals?
q Are you driven? v If so what drives you? v Can you live it?
q What are your needs?
q Do you have a family? v What are their needs?
q What sacrifices are you & they willing to make?
q What is your financial tolerance?
q What will make you quit?
q Do you know your strengths & weaknesses?
q Have you formed & managed Teams? q What kind of a manger are you? q Have you developed a professional network? q How does your experience prepare you for your opportunity?
q Do you have past failures? successes?
7
AblaCor Medical Corporation
Thank You!
Martin Sklar, President & CEO AblaCor Medical Corporation
(O) 781-444-1970 (M) 781-248-6841 www.ablacor.com
