Vitruvian week 10 presentation

December 10, 2013

Mentor: Julie Cherrington

Team:

Cindy Chang, PhD

Hobart W. Harris, MD, MPH

David M. Young, MD

Preventing Hernias Before They Happen

Vitruvian

Customer Interviews : 74

Preventing hernias before they happen.

Preventing hernias before they happen.

Preventing hernias before they happen.

Preventing hernias before they happen.

Preventing hernias before they happen.

0

20

40

60

80

100

saline tissue sealant low dose MYOSEAL

high dose MYOSEAL

He

rnia

(%

)

Treatment Group

Pre-Clinical Data in Rats

Preventing hernias before they happen.

Business Model Canvas

Interviews

President of Paradigm Medical Consultants: Medical insurers do want to keep cost down but they have limited ability to force doctors to perform a treatment that prevents a hernia.

Interviews

My patients don’t develop hernias after my operations. The 10% incidence quoted in the literature just means that another surgeon must have a 20% incidence.

Quotes from Surgeons

At the VA, I don’t think we understand the extent of the problem because the hernias occur outside the usual follow up period. Often my patients are seen and fixed by another surgeon. I don’t even know it.

Business Model Canvas

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Interviews

With strong clinical data, I think most surgeons would adopt hernia prevention. No one wants to be left behind on new and better treatments. After all, surgeons want to do the best for their patients.

Quote from Key Opinion Leader

Interview Partners

Partner Interviews

Myoseal Finance & Operations Timeline

Program2014 2015 2016

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

Pre-clinical

Formulation,

toxicology &

IND

enabling

studies

Clinical

Trials

Human

Resource

G&A + IP

Running

Total

Prod.Optim.($100,000)

Toxicology ($ 500,000)

$ 200,000

Phase 1/2 study over 2.5 years ($ 4 M)

Applicator ($ 800,000)

$ 600,000 $ 600,000

$ 100,000 $ 500,000 $ 500,000

$ 1.7 M $ 5.7 M $ 8.4 M

$ 300,000

$ 200,000

$ 3 M

De-risk the Technology

Change to another indication with the same product

Alter the product composition

Reimbursement

Effective team?

Attractive solution & ID of MVP

Unit economics Validated

Cash to exit

Plausible exit

Therapeutic Investment Readiness Level

Compelling clinical need + large mkt

Intellectual Property

Regulatory