Periodic Reporting for period 1 - PoCMICRUX (An affordable Multi-analyte Point-of-Care system for Chronic Disease Self-Control and Management)
Reporting period: 2018-08-01 to 2018-11-30
MicruX is a technology-based SME founded in 2008 with an intensive R&D activity and a clear orientation to market. MicruX is a well-established company providing microfluidic solutions in the research market. After more than 10 years of experience, we are ready to introduce ourselves in the health market with our product PoCMicruX: an easy-to-use, accurate and affordable Point-of-Care device specially designed for the management of chronic diseases, tested for cholesterol, diabetes, heart conditions or kidney dysfunctions. The Point-of-Care devices market is likely to grow 7,12% reaching €33,33 billion € by 2019, which suppose an attractive opportunity for MicruX positioning in the medical device market.
We have evaluated the technical and economic viability of PoCMicruX, establishing a business plan for the adequate exploitation of the technology in the Point of Care (PoC) medical devices market. We have defined the technical upgrades to be made from the design and production point of view. Reinforced by the commercial assessment, we decided to focus in a more specific pool of biomarkers for cholesterol management for the first version of PoCMicruX, and we have redesigned the base of our Biochip. In parallel, we have corroborated the market potential and defined a detailed IPR and regulatory strategies.
We believe that in 3 years from now, PoCMicruX-Cho will allow doctors, pharmacists or patients to accurately test simultaneously the key biomarkers for the monitoring and prevention of cholesterol, making an impact in patients with hypercholesterolemia, allowing them to self-control their cholesterol levels at home. Based on our constant effort of building our already well-established European and overseas network of distributors, we expect to reach 48.000 end-users after the first five years of commercialization, and according to our financial assumptions, by 2026 PoCMicruX is expected to have generated 59 new job positions and a yearly turnover of €14,1 million and €3,1 million profit (43% of profitability). The Return on Investment (RoI) considering previous investment (€1,57 million), the phase 2 project (€1,6 million) and phase 3 (€0,8 million) is 1,75.