Pur vu- mock pitching presentation
- 1. R e d e f i n i n g p r o t e c t i v e e y e w e a r.
- 2. IQ is... • a start up medical device firm in the field of corrective lenses. • seeking exclusive rights to manufacture and commercialize the first ever photochromic contact lenses. • seeking capital to expand operations. A new solution to an old problem will allow to change the way we see world.
- 3. Value Proposition P/E (Large) 17‐70 P/E (New/small) 10 P/E (Medium) 25 10x Return 5 Years $2.0M investment 58.5% Internal Rate of Return $20M Projected EXIT RETURN
- 6. Intellectual Property INVENTORS: Edwin Chow and Jackie Ying (Singapore) PATENTED in the United States of America: • polymeric material • manufacturing process IBN Seeking Corporate Partners Overseas: • license agreement to bring product into U.S. market
- 7. Budget allocation By key expenses 20% Manufacturing Cost ($720K) 29% Marketing Cost ($970K) 8% Distribution and supply ($100K) Other Operating Cost and Expenses ($210K) 39% 4% Product Registration and Clinical Study ($510K) Estimated Total Project Cost: $2.5 million
- 9. The U.S. Contact Lens Market 23% New York Los Angeles Chicago 53% 8% Houston 8% Philadelphia 4% 4% Others
- 10. The U.S. Market for Pūr‐VU® / YEAR 2: 0.1% OF MARKET SHARE. LA, NY YEAR 3: 0.2% OF MARKET SHARE. LA, NY, CHICAGO YEAR 4: 0.3% OF MARKET SHARE. LA, NY, CHICAGO, HOUSTON, PHILIDELPHIA YEAR 5: 0.5% OF MARKET SHARE. ALL OF UNITED STATES
- 11. Sales Projections EXIT 30 0.60% 25 0.50% Target Market Share (%) 20 0.40% Total Net Income (USD in Millions) 15 0.30% Product Launch 10 0.20% 5 0.10% 0 0.00% 1 2 3 4 5 Year Market Share Total Net Income
- 12. Conclusion T h e f i rs t e v e r c o r r e c t i v e d a i l y w e a r p h o to c h ro m i c c o nta c t l e n s m a d e u s i n g n o v e l p ate n t p ro te c te d te c h n o l o g y. $2.0M investment 10x Return in 5 Years EXIT $20M Projected Return
- 13. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .
- 14. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .
- 15. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .
- 16. Q &A
- 18. Regulatory Pathway Class II Medical Device Premarket Notification Application (510K) Investigational device exemption application (IDE) Clinical Performance Study
- 19. Clinical Performance Study 3 months randomized study Test Lenses (Pūr‐VU) Five Independent 50 Test Subjects Investigators Control Lenses (Predicate Lenses) Predicate 1‐Day Acuvue (Johnson & Johnson) Devices Dailies AquaConformt (CIBA Vision) Soflens Daily Disposable (Bausch & Lomb)
- 20. Project Overview Gantt Chart for 24‐Months
- 21. Investment Return Calculation
- 22. Budget allocation Breakdown by Tranches
- 24. Competitor Analysis The Porter Five Model Substitutes Buyer Power Medium risk of being substituted High buyer power Three of the four competitors have substitutes available Bias in prescribing behaviour based on brand (Vistakon, Inc., CIBA Vision, and Bausch & Lomb). preferences Supplier Power Potential Entrants Strong supplier power Low‐Medium Entry Barrier Pūr-vu contact lenses are two‐in‐one: they provide Medium start‐up cost vision correction and sun protection Requires licensure of patented and proprietary Ability to transition in under 20 seconds from technology transparent to tinted contact lenses, and vice versa Internal Rivalry High intensity Competitors’ products are medicore substitute to Pūr-VU contact lenses.
- 25. Competitor Analysis SWOT Analysis Strength • Prescription lens – improve vision • Non prescription lens – everyone can use them Opportunity • Don’t require additional sun protection – other • Bringing the product to the US market will require accessories, such as sunglasses are not needed partnership with a large pharmaceutical company • Specific protection – receive protection depending on the level of UV light • Once customer base is established, can sell the • Cost saving – 2‐in‐1 contact lenses act to correct business off a pharmaceutical company vision and provide UV protection • Patented technology Threat • Novel material improved oxygen permeability and moisture content • Threat of current substitutes in the market • Entry of other competitors into the market Weakness • Medical device product life cycles tend to be shorter • Inadequate sun protection in vehicles – the glass inside a car may block UV light, and thus the level of brightness is minimized even though exposure to UV light is occurring
- 26. Competitor Analysis List of Competitors Competitors Soft Contact Competitive product Market Share in the U.S. (2009) Vistakon , Inc. 46% Acuvue ‐ provide UV protection with (Johnson & Johnson) absorption of up to 82% of UV‐A radiation, and up to 97% of UV‐B radiation.17 CIBA Vision 24% Precision UV® ‐ absorbs up to 90% of harmful (Novartis) UV radiation.18 CooperVision, Inc. 17% ‐ Bausch & Lomb, Inc. 12% ‐ Nike Nike’s MaxSight Contacts – comes in two ‐ shades: grey‐green for sports played in bright light and amber for sports that are fast paced.19