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K'Watch Glucose: A ground-breaking biometric wearable for painless, minimally invasive and blood-free glucose monitoring.

Periodic Reporting for period 1 - KWatch Glucose (K'Watch Glucose: A ground-breaking biometric wearable for painless, minimally invasive and blood-free glucose monitoring.)

Reporting period: 2017-08-01 to 2017-11-30

Diabetes accounts for 12% of global health expenditure. 60M Europeans are affected by it and €90B are spent only in its treatment and hospitalization. Although 70M people globally should monitor their glucose, only 20% does. This is linked to the inconveniences that available self-monitoring devices pose to diabetics: several blood samples, painful, cumbersome, time-consuming, prone to infections, intricate use and stigmatizing.
We have developed K'Watch Glucose, a minimally invasive glucose self-monitoring system in a smart watch. Our innovative technology measures glucose levels from extracted interstitial fluid (ISF), without painful blood-sampling, high accuracy (>92%) and proven repeatability (30 days). Thanks to its small size, our solution stays “invisible” to others, enabling monitoring of glucose levels anytime and anywhere, without anyone noticing.
In order to confirm the feasibility of our project, we have carried out a 4-month study focusing our effort on 3 main areas. Technically, we have studied the improvements needed and planned the work and scope of the optimization of the biochemical sensor system and the operative software and app as well as the clinical trial and an industrialization and scale-up plan. We have also prepared a complete Execution Plan for the development of K’Watch Glucose, including risk analysis and budget. Commercially, we have assessed the existing and new targeted markets, including the competition, to consolidate our marketing strategy. Moreover, an IPR analysis has been performed to ensure our Freedom-to-Operate. Finally, on the financial side, we have completed a financial forecast based on the marketing and price policy, to evaluate on a 5-year-projection.
After Phase 2 project, we will introduce K’Watch in the European and North American Clinical-Grade wearables market in Q3 2020. We have estimated that the fifth year of commercialization, the sales of K’Watch Glucose and K’apsul will render revenues of €116,200M for PKvitality and the total profits will be €77,569M. With the introduction of K’Watch Glucose we will hire at least 139 new employees, including 25 for R&D, 7 in Customer Care and 80 as Salesforce and Marketing, as well as 24 for Administrative tasks.