Periodic Reporting for period 1 - ONCORED (An unrivalled medical device based on red- light photo biomodulation to prevent, improve and remove oral mucositis and dermatitis chemo radio induced as a side effect of cancer treatment)
Reporting period: 2018-08-01 to 2018-11-30
This FS defines a feasible roadmap in all technical, commercial and financial aspects to take CareMin650 –our safe, cost-effective and easy to use photobiomodulation system– to TRL9 and foster a paradigm change in the treatment of mucositis and dermatitis. The main activities are: system optimization, industrialisation, clinical validation, and building an effective commercial network, and their successful completion will need an investment of €3.58M with €2.5M as part of SME Instrument phase 2 funds and with a ROI of 7.32 at 5 years.
COMMERCIAL PLAN. An in-depth market study together with our field survey encourages our pricing strategy of full treatment cycle per patient. To expand globally we will combine local direct sales channels with indirect sales channels and filing of new patents.
FINANCIAL PLAN. NeoMedLight will need €2.50 million from the Phase 2 SMEI and self-cover the remaining €1.08 million to bring CareMin650 to market. The FS shows the great benefits that our innovation would bring to patients, professionals and health systems, and confirms its technical feasibility and commercial profitability.