A Probiotic Approach to Effective Acne Therapy Phi Therapeutics December 10, 2013 Consumer interviews: 17 Pharma interviews: 19 KOL interviews: 14 Regulatory interviews: 14 IP interviews: 6 Other Interviews: 22 _____________________ Total Interviews: 92
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• Male and female 18 and below (but the decision maker/buyer are mothers)
• People with severe acne
• Mostly Male 18 and above
• Cystic acne
• Skincare/cosmetic companies
• Probiotic selection and production• Formulation of probiotic cream• QC and testing
• Antibacterial to kill ‘bad’ acne-causing strains• Probiotic to add back ‘good’ protective strains
Week 3: Focus on Acne
Acne: History (Lack of Innovation in 30 Years)
Ancient Egypt
Sulfur Benzoyl peroxide
1920s 1980s1970s
Retin AAccutane
Antibiotics
• 80% Teenagers (13-19)
• Persistent acne, affects daily life: social and school-related •Tried other treatments – either didn’t work or relapsed
• Willing to try regular skincare regimen
•30% of adults (20-35)
• Persistent acne, serious therapeutics interventions: lessened acne, or relapse of chronic acne
• Affects daily life – social and professional
• Desperate for effective treatment, “will try anything”
Who Are Our Customers?
Archetype #1 Archetype #2
Store Online Pharmacies
Over the Counter (OTC) vs Prescription
EstheticiansSkincare Companies Dermatologists
$2.5 Billion Market $4 Billion Market
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer Segments
Antibacterial
Initial Hypotheses
Better!
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer Segments
Antibacterial
Regulato
ry“Must be regulated by the FDA”
Better!
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer Segments
Antibacterial
Customer
Segm
ent
“Cosmetic companies aren’t going to take drugs through clinical trials”
Better!
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer Segments
Antibacterial
Customer
Segm
ent
Better!J&JGSKBayer, Galderma
“Cosmetic companies aren’t going to take drugs through clinical trials”
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer SegmentsIP
“Add probiotic component to therapeutic”
Better!
Antibacterial
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer SegmentsIP
Better!
Antibacterial+ Probiotic
“Add probiotic component to therapeutic”
Value Proposition Customer Relationships
Channels
Revenue Streams
Customer SegmentsPartners
“Use dermatologist advisors to prove clinical efficacy”
Better!
Antibacterial+ Probiotic
Other Discoveries
• Regulated under CBER division of FDASafety and Efficacy regulated under acne guidelinesCMC (Chemistry, Manufacturing, and Controls) regulated under live vaccine division
• Regulatory consultants and CROs are partners
• Virtualize Operations
• Human Pilot Trials
• Salesforce required to create demand
DermatologistSalesforce
CreateDemand
Attractive Market Opportunity
TAM = $4 Billion
SAM = $2 Billion
650 million people globally
150 million people in USA
Target Market$500 Million
25% New branded drugs capture large share of the market