Market

MARKET OPPORTUNITY:

There is a dire need for a simpler and more affordable device and method that allows for a simplified but accurate imaging of a person’s retina to detect symptoms of diabetic retinopathy especially at the periphery of the retina:

•    Detected early and treated effectively, retinopathy can be halted so that vision can be maintained.
•    Early diagnosis is a critical factor in broadening care and prevention.

The RetinalGeniX system is designed to provide the next generation of cost-effective, ultra-wide-imaging technologies to examine the periphery of the Retina at up to an unparalleled 200 degree field of view, in order to detect early signs of Diabetic Retinopathy without having to dilate the patient's pupil.

Ophthalmologists, Retina Specialists and Optometrists diagnosing diabetic retinopathy are the target market for the RetinalGenix system:

•    Globally, there are 206,000 Ophthalmologists within these markets:
    o    US and Canada - 26,000
    o    European Union - 34,466  
    o    Russian Federation - 14,600  
    o    Asia, excluding Japan and China - 10,055
    o    China - 28,338
    o    Japan - 13,991
    o    Central and South American markets are as follows:
         1.    Brazil - 11,350
         2.   Colombia - 1,250    
         3.   Mexico - 3,500
         4.   Peru - 1,050
         5.   Venezuela - 3,000
    o    India - 11,000
    o    Other notable markets include:
        1.    Turkey - 3,080
    o    Ukraine - 3,550

•    In addition, globally, there are over 200,000 Optometrists, in roughly the same geographic proportions as Ophthalmologists.

The RetinalGeniX system has a distinct competitive advantage because it not only combines the very best features of currently marketed technologies but also has two extremely critical additional features: (1) portability, which allows the system too be used in a clinical setting as well as in the field; and (2) a price point well below the average selling price (ASP) of current currently marketed systems, which is more than $25,000 per system.

Favorable Medical Economics:
 
The advantages inherent in the RetinalGeniX platform are synergistic with the ongoing demand for cost reduction in healthcare systems, globally.
 
More specifically, demand for state-of-the-art, cost-effective, portable diagnostic tools is growing, globally.
 
The burgeoning growth of diabetes globally and the need for an inexpensive and portable diagnostic tool is necessary to prevent millions of people from losing part or all of their eyesight. The economic cost of millions of people losing part or all of their sight would be catastrophic for the global economy.
 
Extensive IP Protection:
 
RetinalGeniX has numerous patents and patents pending for its products. Specific details are subject to restricted access.
 
It is also important to note that the development and manufacture of RetinalGeniX products includes expertise and trade secrets that are proprietary to the company.
 
Significant Competitive Advantages:
 
Ophthalmologists, retina specialists and optometrists diagnosing diabetic retinopathy are the target market for the RetinalGeniX system.
 
The RetinalGeniX system combines the very best features of current technologies with two extremely important features: (1) portability, which will allow the system to be used in a clinical setting as well as in the field; and (2) a price point well below the ASP of current systems, which is more than $25,000.
 
Experienced, Successful Leadership: 
 
The scientific team at RetinalGeniX is led by Lloyd Paul Aiello, M.D., Ph.D., Head of Joslin Diabetes Centers’ Section on Eye Research, Director of Joslin’s Beetham Eye Institute, and Associate Professor of Ophthalmology at Harvard Medical School. 
 
Dr. Aiello is the author of more than 60 original papers and over 100 publications and the recipient of 20 national and international awards. He has served as Chair for two Medical Science Review Committees of the Juvenile Diabetes Research Foundation, the American Diabetes Association Lions SightFirst Diabetic Retinopathy Research Program and the National Institutes of Health sponsored Diabetic Retinopathy Clinical Research Network.