chenchow
21-02-2004, 07:53 AM
Hi all, below is a basic summary of a Business Plan of my group of an Entrepreneurship class, on the utilization of MEMS in Drug Delivery into body.
We would need to get this 40-page business plan ready by first week of May and present it to some venture capitalists. It is more of a class work, but the gradings will be done by some VCs and some CEOs in Silicon Valley.
Hope to hear comments etc, since all 4 of us are in Electrical and Computer Engineering.
MEMS Drug Delivery Device
Group 1 ? Raymond Lau, Ray Huang, David Chai, Chenchow Yeoh
The pharmaceutical industry is one of the largest, most lucrative markets today. In 2001, this industry generated approximately $250 billion. As both science and medicine studies strengthen, new break-through drugs are emerging every week.
The goal of our company is not to develop a revolutionary drug. We will not promise to cure cancer, nor develop an antibiotic for HIV. We won?t make any false, impractical promises. However, utilizing Micro-Electro Mechanical Systems (MEMS) technology, we will break the current confines on medicine by providing a means for drug deliverance on the microscopic level. We will create a product that allows patients to take in accurate dosages of medicine from within their blood stream. Currently, a diabetic patient needs insulin injection regularly. Imagine a fingernail sized device, implanted just beneath your skin. This device automatically measures your blood-sugar level. When the glucose level exceeds the normal range, the device automatically releases an accurate dosage of insulin into your blood stream. Rather than releasing drugs basing on the biological contents in your body, this programmable device could also be adjusted to release medicine on a timely basis. With our revolutionary technology, you will never have to worry about forgetting to take your cold medicine again. In addition, there are countless other uses for our product: from regulating blood-composition, to toning the vitamin-levels, and to serving as a health hazard detector to the patient.
The practicability of our product is a reality. Already, MEMS technology is breaking new ground by creating machines that are minute, with compromising quality and precision. Furthermore, production of devices fostered on MEMS is extremely affordable and efficient. A wafer of silicon can produce thousands of samples simultaneously.
Our main consumer would be pharmaceutical companies, such as Pfizer and Astra Zeneca. They will purchase our devices, and incorporate their drugs into them. A recent study on drug delivery systems reported that the market size in 2002 is already $47 billion, projected to reach $67 billion by 2006. Considering the unprecedented nature our product, taking a 5% share of the market is feasible.
We will be the first company to produce this drug delivery system. The reason no other company has introduced this yet is because MEMS is a very recent technological advancement. And likewise, because MEMS production requires specialized labs and production facilities, mimicking our product is not an easy thing to do. It necessitates both research and time. We sincerely feel, at this point?the forefront of a new emerging technology?the introduction of a drug delivery system based on MEMS is a reachable future.
Thanks for reading. Hope to hear comment, advice, suggestion etc. We do not know much about all these, so hopefully can have more sources on how to learn more about this!
Thanks!
We would need to get this 40-page business plan ready by first week of May and present it to some venture capitalists. It is more of a class work, but the gradings will be done by some VCs and some CEOs in Silicon Valley.
Hope to hear comments etc, since all 4 of us are in Electrical and Computer Engineering.
MEMS Drug Delivery Device
Group 1 ? Raymond Lau, Ray Huang, David Chai, Chenchow Yeoh
The pharmaceutical industry is one of the largest, most lucrative markets today. In 2001, this industry generated approximately $250 billion. As both science and medicine studies strengthen, new break-through drugs are emerging every week.
The goal of our company is not to develop a revolutionary drug. We will not promise to cure cancer, nor develop an antibiotic for HIV. We won?t make any false, impractical promises. However, utilizing Micro-Electro Mechanical Systems (MEMS) technology, we will break the current confines on medicine by providing a means for drug deliverance on the microscopic level. We will create a product that allows patients to take in accurate dosages of medicine from within their blood stream. Currently, a diabetic patient needs insulin injection regularly. Imagine a fingernail sized device, implanted just beneath your skin. This device automatically measures your blood-sugar level. When the glucose level exceeds the normal range, the device automatically releases an accurate dosage of insulin into your blood stream. Rather than releasing drugs basing on the biological contents in your body, this programmable device could also be adjusted to release medicine on a timely basis. With our revolutionary technology, you will never have to worry about forgetting to take your cold medicine again. In addition, there are countless other uses for our product: from regulating blood-composition, to toning the vitamin-levels, and to serving as a health hazard detector to the patient.
The practicability of our product is a reality. Already, MEMS technology is breaking new ground by creating machines that are minute, with compromising quality and precision. Furthermore, production of devices fostered on MEMS is extremely affordable and efficient. A wafer of silicon can produce thousands of samples simultaneously.
Our main consumer would be pharmaceutical companies, such as Pfizer and Astra Zeneca. They will purchase our devices, and incorporate their drugs into them. A recent study on drug delivery systems reported that the market size in 2002 is already $47 billion, projected to reach $67 billion by 2006. Considering the unprecedented nature our product, taking a 5% share of the market is feasible.
We will be the first company to produce this drug delivery system. The reason no other company has introduced this yet is because MEMS is a very recent technological advancement. And likewise, because MEMS production requires specialized labs and production facilities, mimicking our product is not an easy thing to do. It necessitates both research and time. We sincerely feel, at this point?the forefront of a new emerging technology?the introduction of a drug delivery system based on MEMS is a reachable future.
Thanks for reading. Hope to hear comment, advice, suggestion etc. We do not know much about all these, so hopefully can have more sources on how to learn more about this!
Thanks!