Periodic Reporting for period 1 - FLEXDYM (FLEXDYM, the material revolution for microfluidics)
Reporting period: 2019-02-01 to 2019-10-31
Microfluidics are integral to many of the breakthrough technologies in the last decade and a half (liquid biopsy 2015 ; neurochips 2014 ; personalized medicine 2007)1. The overall market value of microfluidics for life sciences was $2.5B in 2017 and is forecasted to reach $5.8B by 2022 (compound annual growth rate (CAGR)2017-2022 :18%). Even more interesting, this multi-sectional technology can still be imported to other fluid-based segments (chemical synthesis, water depollution, fuel cells, …), meaning its ascension is expected to accelerate.
To become the leader in microfluidic systems, Eden Microfluidics envisions a « factory of the future », with proprietary advanced materials for microfluidics, microfabrication machines and design services for its end-users. To enter the market, Eden benefits from an unique material, the first polymer specifically formulated for microfluidics: Flexdym.
Eden Microfluidics has already established production and commercialisation of advanced polymers and microfabrication solutions for microfluidics, and now develops the first microfluidic water treatment solution. This solution removes or degrades micropollutants (pesticides, antibiotics, heavy metals, ..) from water in a compact, low-energy device, called AKVO. With AKVO, access to clean water can be achieved at all scale, without excessive energy use. The objective of this proposal is to establish the potential of this technology with technical feasibility studies and business market analysis.
➢ Scout and identify industrial partners in the value chain and stakeholders influencing the commercialisation success
➢ Size the reachable market and a reliable market share: qualitative and quantitative results derived from comprehensive customer and market analysis.
➢ Establish a sound go-to-market strategy: interest for the business project and further cooperation of at least 2 large distributors secured.
➢ Prepare detailed 10-year financial projections.
➢ Establish next steps for effective IP management: potential patents and trademarks to be deposited; further PCT applications to be filed; extensions to other countries.
➢ Risk assessment & Contingency Plan: main risks identified, and appropriate mitigations planned.
TECHNICAL FEASIBILITY OBJECTIVES AND OUTCOMES
➢ Plan a feasible product development: preliminary specifications defined, all technical activities needed to launch AKVO at a large scale identified.
➢ Plan microfluidic chips development, with the following identified: microfluidic developer company, microfluidic manufacturer, microfluidic chip to be developed, including number of chips required, and timeline needed to validate their suitability.
➢ Identify and plan for required manufacturing practice accreditations: Regulatory context of EC accreditations and CE mark established; other accreditations investigated.
➢ Establish a feasible preliminary industrialisation plan and elaborate the full business operations: all value chain actors identified; all manufacturing and distribution infrastructure identified.