Periodic Reporting for period 1 - Igentify (The disruptive personalized machine-based genetic counseling platform)
Periodo di rendicontazione: 2019-08-01 al 2019-11-30
Advancement in sequencing techniques together with a decreasing cost/test allow the use of genetic testing in routine clinic. Genetic profiling is increasingly important for personalized medicine since it holds invaluable health-related information (e.g. disease-causing gene mutations or information about which medicament would work best for a patient). Genetic counseling (GC) is crucial for patients to understand and adapt to the medical and psychological consequences of their genetic tests´ results in order to take an informed decision. However, currently there are only 7,000 genetic counselors worldwide (900 in Europe), an insufficient number to fulfil the ever-increasing demand. To decrease the workload of genetic counselors and to make GC accessible to every individual, we have designed an end-to-end digital GC platform that automatize the GC process, Igentify.
We have evaluated the technical feasibility to develop a scalable digital genetic platform and tasks necessary for the technical development were set. Our team has vast experience in software development and all work will be done in-house in order to assure trade secret. We have already identified a hospital site for the pilot study. Regulatory strategy has been evaluated by external consultants and a regulatory route for European, US and Israeli market has been established. Moreover, we have decided that our solution will be accompanied by medical supervision to assure easier market access. We have established our commercialization strategy and concluded that considering our already established and potential commercial partners our project is commercially feasible. We have evaluated the technical and commercial risks and proposed mitigation measures. We plan to launch Igentify on the market in 2022. Our financial predictions showed that project will be highly profitable already the second year on the market with a cumulative profit of €36.52 million by 2025 together with ROI of 1.3 and creation of at least 30 new jobs.
Our objective is to become a leader in the digital genetic health field. We will be first to develop an end-to-end GC platform. Igentify will have a two-way impact on society as it will make genetic testing accessible to everyone and bring the concept of preventive care and personalized medicine to reality. Face-to-face visits with genetic counselors will be reduced by 95%, therefore 10x more patients can be counseled when Igentify is used.