Periodic Reporting for period 1 - SULIPRO (A scientifically proven, safe, naturally derived drug for the effective treatment of liver damage - an innovative solution for a significant unmet medical need)
Reporting period: 2017-02-01 to 2017-05-31
Natural Shield have developed a specialised oral therapeutic, called SULIPRO, which is a combination of soy derived compounds, that has been proposed as a novel, scientifically-proven safe treatment for patients in the early stages of non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). SULIPRO is a novel, patent-protected therapeutic extract, composed of sphingolipids (plant sterols and soy derived extracts), as well as an adjuvant for improved drug delivery. The active ingredients include CardioAid™-XF and Lunasin.
The overall objectives of the Feasibility include a full analysis of the technical and business potential of the Sulipro therapeutic. Throughout the duration of the project, Natural Shield expanded its knowledge of the NAFLD and NASH industry, therapeutic advancements and in particular the European market.
As a conclusion to the business feasibility assessment, Natural Shield have determined that Sulipro is the source of a viable commercial application, and that it has the potential to efficiently provide a long term treatment to a currently underserved market. Thanks to the feasibility study, Natural Shield have been able to identify the main customers for the product and also identify what potential customer’s desire from the solution. This is proven by the market research results and detailed customer analysis. The feasibility assessment also allows Natural Shield to develop a clearer and more suitable business model based on progress recently made which has advanced the company’s capabilities and will allow them to play a more prominent role after commercialisation than had previously been envisioned.
Considering the overall results of the Phase 1 assessment, it has been deemed worthwhile to follow up with the implementation of the product development and subsequent commercialisation plan. To successfully bring the drug to commercial readiness, Natural Shield will need further funding to carry out the remaining objectives. Following a careful assessment of all aspects pertaining to the project, Natural Shield concluded that the non-dilutive SME Instrument Phase 2 funding would provide the correct amount of funding and support to allow the implementation activities to be performed in the most suitable conditions. This will advance Natural Shield’s innovative therapeutic in its market position and penetration. Natural Shield will therefore be applying for the Phase 2 funding. Co-funding will be provided by Natural Shield’s own financial and operational capacity as well as grants received to date. Completing the activities outlined for Phase 2 will ensure that Natural Shield can introduce their product to the market immediately after the project ends.