Method for Analysis of Single Molecules in Bio-Medical Research Nesher Technologies Inc. nanobiotech for smarter diagnostics and cutting-edge biomedical research Team 14 Size of Opportunity: TAM (high-end microscopes): ~$20-40M/y SAM (ALEX analyzers) ~100 over 5 years, Avg. ~$3M/y Initial Idea: Turn-key instrument of laser-based single molecule detection technology for academic labs Total interviews: 103 Avg/wk: 10.3
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Method for Analysis of
Single Molecules in
Bio-Medical Research
Nesher Technologies Inc.nanobiotech for smarter diagnostics
and cutting-edge biomedical research
Team 14
Size of Opportunity:
TAM (high-end microscopes): ~$20-40M/y
SAM (ALEX analyzers) ~100 over 5 years, Avg. ~$3M/y
Initial Idea:
Turn-key instrument of laser-based single molecule
detection technology for academic labs
Total interviews: 103
Avg/wk: 10.3
Business Model Canvas Week 1
*Hypothesis:
Research customers in academia want standardized turnkey
instruments
Experiments:
Interviews with academic researchers and lab directors• Dr. Nils Walter (Prof. of Chemistry, Univ.of Michigan)
• Dr. Fareed Aboul-ela (Prof. Zewail City of Science and Technology, Egypt)
• Dr. Lori Goldner (Prof. Univ. of Massachusetts Amherst)
• Dr. Laurent Bentolila (Scientific Director of the Advanced Light Microscopy/
Spectroscopy Lab, California NanoSystems Institute
• Dr. Piotr Marszalek (Professor of
Mechanical Engineering, Duke Univ.)
• Dr. David Lilly (Prof. of Molecular
Biology, Director of the Cancer
Research UK Nucleic Acid Structure
Research Group, Univ. of Dundee)
Week 3,
30 total
Research Customer Archetype
• Expertise in biophysics/biochemistry
• Interested in the dynamic behavior of biomolecules
• Has published in life sciences journals
• Expertise in labeled fluorescence measurements
Dr. Nils Walter (Professor of Chemistry,
Director, Single Molecule Analysis
in Real-Time (SMART) Center,
Univ. of Michigan)
ResearchScientist
(PI)
High endMicroscope
Core Facility
End User(Graduate Students
Postdocstechnicians)
Core Director
PurchasingAgent
End User(Graduate Students
Postdocstechnicians)
ResearchScientist
(PI)
Core Manager
DepartmentHead
Influence
Money
Academic Market Ecosystem
$100k???
we don’t have that
kinda money right
now!!!
* Few “must have” responses
Customers need to “see” the product
Purchases may need to be funded through grants
Competitors include Leica, Picoquant, home brew systems
Customer validation required pre-purchase
It’s time to
Decision Made
Business Model Canvas Week 4
* 29 new
Hypothesis:
• Microscope companies would want our technology as an add-on module
• Biotech/ Pharma may want special assays to augment drug discovery
Experiments:
• Interviewed science/ business/ leadership people in industry
• Interviewed contract manufacturer
What we learned:• Have not found any needs within mainstream R&D in pharma/ biotech
• Current pharma drug discovery suppliers offer compete solutions:
instruments-assays-reagents
• These methods are not yet known in R&D
• No immediate response from big microscope companies (Olympus, Leica,
Zeiss, Nikon) as well as smaller ones (Picoquant, ISS, Becker-Hickl)
• Contract manufacturers not affordable now (Dr. Gary Gust (Source
Scientific), David Hagebush (Lathrop Engineering)
Week 5,
total 59
It’s time to
Realization from previous interviews:
consistent need for software support
Software
Business Model Canvas Week 6
* related to software
• Academic researchers usually build their own optical setups
Software is difficult to develop,
willing to pay for software at ~$5K
(Dr. Lori Goldner)
• Many academic customers can’t/won’t buy capital
equipment from startups, especially over $50K
Willing to pay for software at ~$5K (Dr. Laurent Bentolila,
Dr. Piotr Marszalek)
• Singulex (Our competitor, Single molecule detection platform)
Their main revenue is from providing SERVICES (Steve
Blakely, Director of Marketing at Singulex)
Week 7,
83 total
COGS
Distribution Channels
- Lessons Learned -ALEX
Analyzer(OEMs: GE
Healthcare, Life
Technologies;
Zeiss, Leica,
Nikon, Olympus;
for IVD: Roche
Diagnostics,
Siemens
Healthcare)
Software
Microscope
add-on (ALEX
module)
(McBain
Microscopy)
Reagents/
Consumables/
Assays
(drop-ship
directly from
OEMs)(SigmaAldrich,
AnaSpec,
Qiagen,
Biosearch
Technologies)
Hardware,
Reagents(Thermo
Fisher, VWR,
Sigma)
CO
GS
R&D (20%): $1000
SG&A (20%): $1000
E-Commerce Costs:
Payment Gateway
(3%): $150
AdWords Campaigns
(5%): $250
Discount
(10%):
$500
Profit (42%): $2150
ALEX Software: $5000/download
30-40%of sales
CAC: $3K per customer
1% adoption rate times $30K for reaching out to 1000 customers
Conferences, trade shows, webinars, publications, blogging,3rd party e-mail