Periodic Reporting for period 1 - SensoGenic (SensoGenic: empower food allergy sufferers and their families with the freedom to enjoy eating safely everywhere & anytime)
Reporting period: 2019-03-01 to 2019-08-31
The global allergy epidemic is an ever-present growing problem: food allergy cases have risen by as much as 50% in the past decade, and this trend does not seem to be slowing . Food allergies are classified as an immune response to a substance of a particular nature that an individual is hypersensitive to. These responses can be anywhere from quite mild, slight rashes or stuffy noses, to severe anaphylaxis requiring immediate hospitalization.
SensoGenic Ltd. is a science and technology company based in Israel, that is developing a food allergens biosensor which is a portable, handheld, digital diagnostic analyser. Currently, there are no consumer solutions in the market that address food allergens detection. The solutions for food manufactures include very laborious, time and resource consuming, and expensive laboratory tests. SensoGenic focuses on a consumer product which detects peanuts and eggs simultaneously in relevant food and concentrations. After successfully validating SensoGenic's POC we can confirm the capability of our breakthrough IP as a unique approach for allergen protein detection.
As part of this feasibility study, SensoGenic held discussions with leading food and beverage manufacturers and KOLs in the specialist medical community associated with treating food allergies. These discussions, as well as requests received via our website from parents of children suffering from food allergies, have confirmed the need for a device that can detect food allergens as a means to improve the quality of life of food allergy sufferers and reduce emergency medical incidents as a direct result of food allergy.
Furthermore, this feasibility study aimed to improve SensoGenic's understanding of international market conditions and the associated risks that need to be considered as the company develops a deeper business plan for rolling out and scaling up SensoGenic as a marketable innovative solution. We succeeded in achieving this goal by conducting market research, discussions with key players in applicable markets, and building an initial business plan and go to market strategy. The conclusion of the study is that this SenoGenic project is a viable, worthwhile project to pursue that has potential for immense economic and social impact for food allergy sufferers.
Furthermore, this feasibility study aimed to improve SensoGenic's understanding of international market conditions and the associated risks that need to be considered as the company develops a deeper business plan for rolling out and scaling up SensoGenic as a marketable innovative solution. We succeeded in achieving this goal by conducting market research, discussions with key players in applicable markets, and building an initial business plan and go to market strategy. The conclusion of the study is that this SenoGenic project is a viable, worthwhile project to pursue that has potential for immense economic and social impact for food allergy sufferers.