Periodic Reporting for period 1 - AB-Prevention (Highly efficient and eco-innovative probiotic food supplement for antibiotic-associated disorders prevention)
Reporting period: 2016-03-01 to 2016-05-31
Antibiotic-associated diarrhea (AAD) can cost the EU health system €3000 million per year due to extended hospital stay. Using probiotics can be effective way to protect and prevent antibiotics associated side-effects like AAD. Unfortunately commercially available probiotics have limited effectiveness because they are not able to deliver viable bacteria to the target region the gastrointestinal track.
MyBiotics aims to commercialize our first clinically effective probiotic product AB-Prevention which is built our patent pending revolutionary delivery technology MyCrobeTM which uses biofilm to deliver live bacteria to bypass the body’s natural defence mechanism to the GI tract to allow for colonization of health bacteria and re-establish the body’s microbiome therefore reduce the side-effects of antibiotic use.
We conducted 4-month study of the feasibility of our commercial plan and develop work plan to bring our product into the market within 2 years time.
MyBiotics aims to commercialize our first clinically effective probiotic product AB-Prevention which is built our patent pending revolutionary delivery technology MyCrobeTM which uses biofilm to deliver live bacteria to bypass the body’s natural defence mechanism to the GI tract to allow for colonization of health bacteria and re-establish the body’s microbiome therefore reduce the side-effects of antibiotic use.
We conducted 4-month study of the feasibility of our commercial plan and develop work plan to bring our product into the market within 2 years time.
In order to confirm the feasibility of our project we have carried out a 4-month study consisting on:
- Techno-economic analysis: Which includes detail protocol for POC in humans and clinical study
- Thorough market analysis: Which identifies market trends and competitors and environmental barriers and facilitator for market entry
- Updated business and financial plan according to market analysis and review financial forecasts: We developed unique business strategy for our commercialization, which involves partnering with industry who have large established distribution and marketing channels.
- Development of complete Execution Plan for the Phase 2 project, including planning, organization, risk analysis and budget.
- The information we gained from our feasibility study has helped us focused on targeting ideal distribution and marketing partners and initial pricing strategy for our product. Additionally we continued to promote our work and company through large scientific/industry conferences such as Biomed 2016 in San Francisco
- Techno-economic analysis: Which includes detail protocol for POC in humans and clinical study
- Thorough market analysis: Which identifies market trends and competitors and environmental barriers and facilitator for market entry
- Updated business and financial plan according to market analysis and review financial forecasts: We developed unique business strategy for our commercialization, which involves partnering with industry who have large established distribution and marketing channels.
- Development of complete Execution Plan for the Phase 2 project, including planning, organization, risk analysis and budget.
- The information we gained from our feasibility study has helped us focused on targeting ideal distribution and marketing partners and initial pricing strategy for our product. Additionally we continued to promote our work and company through large scientific/industry conferences such as Biomed 2016 in San Francisco
We expect to deploy the AB-Prevention on a global scale, but in our 5 year commercialization plan we will start in the US and move into Western Europe market only while building the infrastructure for global expansion. We understand the importance of strong marketing and distribution channel in order to have broad reach and quick expansion. As such, we intend to partners with partners will large distribution and marketing channels. We have developed a sales strategy and we understand we will need to refine our plan for implementation, which we will do during our phase 2 study. From our feasibility study we have outlined detailed workplan required for us to bring AB- Prevention into the market.
The commercialization of AB-Prevention will also enable our company to grow, both financially- achieving revenues of approx. €24 million and profits of €9.6 million in 2022- and in personnel- we will hire 5 additional staff to support the product management and development process.
The commercialization of AB-Prevention will also enable our company to grow, both financially- achieving revenues of approx. €24 million and profits of €9.6 million in 2022- and in personnel- we will hire 5 additional staff to support the product management and development process.