OvaRenew as a first-line therapy in impaired egg quality treatment

Project Information

OvaRenew

Grant agreement ID: 743905

DOI

10.3030/743905

Project closed

EC signature date 15 November 2016

Start date 1 December 2016

End date 31 May 2017

Funded under

• SOCIETAL CHALLENGES - Health, demographic change and well-being

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

POTENZA MEDICA D.O.O.
Slovenia

Periodic Reporting for period 1 - OvaRenew (OvaRenew as a first-line therapy in impaired egg quality treatment)

Reporting period: 2016-12-01 to 2017-05-31

Summary of the context and overall objectives of the project

Our solution is tackling one of the deepest human needs-reproduction. The aim of OvaRenew project is to develop and globaly introduce OvaRenew, capsule for restoration of the impaired egg quality and quantity in woman with ovarian insufficiency as a first-line therapy. It will impact the low fertility rates, which result in increased population aging and have negative effects also on labour market, demography and economy of the developed world.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

On the basis of market (O.1) technological (O.2) bussiness model (O.3) economic (O.4) and organizational viability (O.5) plan for successful market penetration and plan for long-term profitability of OvaRenew was defined. The feasibility study confirmed likelihood of OvaRenew project being sucessful.

Market analysis confirms the huge potential of the ovarian infertility market of 27,1 billion € and our adressable market pharma triade region being 21,6 billion €, representing 80 % of global fertility market. Analysis of competitive solutions have shown that OvaRenew adresses all the needs and problems of the market in most effective and economical way and is therefore perfect candidate as a first-line approach in egg insufficiency. This is why we plan to capture 10 % of all ovarian insufficient woman in target markets. Our target is 640 mio €.

Estimated funds needed for a successful product launch are 1 mio €. It will be used mainly for manufacturing licence, clinical testing phase II/III, regulatory clearance, stability study, brand development and first market introduction. First sales is expected in 24 months after starting Phase 2 of the project. Break-even point will be reached near the end of the second year of commercialisation, presumably in 2021 with revenue planned to be 2,4 mio €. In 2023, ROI is planned to exceed 10, which will allow exit strategy for potentual investors as well as investment in the development of new products from the pipeline to ensure further growth.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

OvaRenew will enable women with impaired egg quality to produce their own child while drastically decreasing cost and invasiveness of the procedures on one and country health and other expenditures on the other hand. With our vision to become a globaly recognised producer of innovative fertility products, the OvaRenew technology goes directly in line with the strategy and innovation processes, which will greatly increase competitiveness of the company in the field of innovations, increase revenues and employment.

Execution plan for Phase 2 OvaRenew.