CORPORATE OVERVIEW
"Biosense is a medical technology company that has developed extremely sensitive biosensors that enable rapid measurement of metabolites from a small saliva sample."
Customer Problem
Current biosensors are based on measurements in blood, requiring a fingerstick or blood draw. 80% of Type I and Type II diabetics test their glucose several times per day. Lactate threshold is monitored in sports professionals, requiring multiple fingersticks during an exercise routine. Biosense technology enables saliva-based testing. Type II diabetics who don't test for glucose or those would prefer a painless alternative, and pre-diabetics, are potential users of saliva-based glucose sensing. Biosense will enable these patients to non-invasively (painlessly) monitor their glucose levels. And, it will enable sports professionals to monitor their fitness and endurance without a finger stick or dealing with the biohazard of blood.
Products
The Biosense sensor system includes a small, inexpensive reader that links to a smartphone, and single-use test strips that are specific for glucose or lactate (and can be developed to make other measurements in the future). The test strips are a high margin product that can be manufactured reliably at very high volume. A cloud-based monitoring service will also be part of the Biosense product offering. Spin-off products for a major distributor will include a range-detecting glucose monitor, and a saliva-based lactate meter for sports.
Target Markets
The focus of Biosense is on the diabetes market, where saliva-based glucose measurement could dramatically improve the monitoring for Type II diabetics and pre-diabetics, who don't utilize blood-based glucometers, or want a less invasive approach. Biosense's technology uniquely enables patient self-monitoring without requiring a fingerstick. A spin-off wellness product will target sports medicine, where lactate threshold measurements will be simplified, and made non-invasive. The Biosense saliva-based lactate sensor will be used by professional, Olympic, college, and amateur athletes and their coaches..
Business Model
Biosense is a razor/razor-blade company, where the razor is a small, inexpensive electronic reader, and the razorblades are test strips that will be sold in high volume, and at high margins. Biosense will focus its efforts on the diabetes market, but initial sales will derive from saliva-based lactose meters private-labeled to a customer who has major market share in the wellness market. Disease-detection is a longer-term goal, but offers Biosense an upside potential, and chance to help worldwide health.
Competitive Advantage
The primary competitive advantage of the Biosense technology is that it utilizes nanomaterials to amplify the signal, so that extremely sensitive measurements can be made. This enables Biosense sensors to use saliva, rather than blood. This eliminates the pain, potential for infection, and bother of doing fingersticks. It will open new market segments (e.g., pre-diabetics), which currently don't test due to the requirement for fingersticks, which are invasive, and have the potential for infection..