Meet the founder of startup Volumetric - 3D-bioprinters that print human tissue
Date: 16.07.2020 - 16.07.2020 | 18:00
Location: webinar
Link to register: https://us02web.zoom.us/webinar/register/WN_96H_cPA3RUWNLxqNwY7fBA
Meet the founder of startup Volumetric - 3D-bioprinters that print human tissue
Startup technology allows you to generate complex biological structures, such as blood vessels and lung alveoli, hundreds of times faster than existing bioprinting technologies, offering more physiologically appropriate tissue models for drug screening and a way to replace donor organs.
Mission: to provide the next generation of advanced systems for 3D bioprinting.
The Startup is successfully selling its technology and has already received over $ 1.5M in revenue over the past 2 years
The scalability of existing bio-production was limited by printing speed, as long-term biotechnology processes degrade the functionality of tissue cells. Volumetric printing technology is changing the existing paradigm of creating living tissue at a faster rate of speed,as it allows you to create whole objects at once, and not by sequentially adding the main building blocks. Skin, blood vessels, cartilages, bones and even vital organs as a whole - all this can be done with high resolution, throughput efficiency and accuracy with Volumetric technology.
PROBLEM
Today, hundreds of thousands of patients stand in line for various organs. Hundreds of millions of patients worldwide:
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Liver Disease - 81 Million Americans, $ 103B;
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Heart Disease - 35 Million Americans, $ 200B;
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Chronic Kidney Disease - 31 Million Americans, $ 81B;
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Chronic Obstructive Pulmonary Disease - 16 Million Americans, $ 37B;
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Diabetes - 39 Million Americans, $ 327B.
SOLUTION
World trends indicate that during the next 10 years, transplantation of artificially created organs to humans will be possible.
At the moment, the startup has solved the issue of printing the vascular network, which serves as the basis and framework for human tissues and for circulatory systems. Micro organs are created on the basis of the vascular network. Biomaterial for printing is taken from small samples of the patient’s cells directly during an emergency operation and without searching for donors.
MARKET
The global 3D bioprinting market size was valued at USD 1.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 17.4% from 2020 to 2027. The growth of this market is attributed to a limited number of organ donors, and an increasingly aging population with chronic respiratory diseases.
INVESTMENTS
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Invested $ 1.8M in 5 rounds;
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The last round of investing is May 26, 2020;
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Key investors: Methuselah Foundation (Founding Investors), Methuselah Fund, TMC Venture Fund, SandHill Angels, Y Combinator, Social Starts, Joyance Partners, Liquid 2 Ventures, Social Starts, Joyance Partners, Kingsley Advani.
BUSINESS MODEL
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3D printers use proprietary bioinks;
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Materials, process, and compositions are patent-pending;
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Distributed and sold worldwide by a distributor of CELLINK AB;
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Sold 120 printers since Summer 2019.
PIPELINE
Setting up developmental contracts with top 20 pharma for initial validation studies:
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Duration 18 months;
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$ 1 - $ 1,5M each;
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Opportunities over $ 20M.
COMPETITION
Only Volumetric can produce tissues on a scale with high resolution, throughput and accuracy. Main competitors:
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Emulate;
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Mimetas;
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Prellis biologics.
TEAM
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Founders Bagrat Grigoryan, Jordan Miller;
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A team with over 35 years of experience in biotechnology;
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3 engineers - developers of printers and microfluidics;
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2 laboratory scientists - generate tissue check data;
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1 biomaterial engineer - synthesis of materials;
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1 BD - Tissue Growth and Acceptance in Pharmaceuticals.
Strategic advisors
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Kevin Coker - CEO of ProximaCRO;
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Sergio Ruiz - Managing Director Methuselah Fund.
Scientific advisory board:
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Elsa Arribas, MD - Associate Professor Department of Diagnostic Radiology The University of Texas MD Anderson Cancer Center;
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William E. Cohn, MD - Vice President for J&J Medical Devices Companies Executive Director, J&J Center for Device Innovation;
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Victor Ankoma-Sey, MD - Director, Liver Transplant Program Sherri & Alan Conover Center for Liver Diseases and Transplantation Houston Methodist;
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Hayden Taylor, PhD - Assistant Professor Mechanical Engineering University of California, Berkeley.
ABOUT STARTUP IN FIGURES
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Founded in 2018;
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Revenue 2019 $ 1.5M;
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2 trademarks registered;
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Assembly, quality assurance done in-house in 5,000 sq ft facility in Houston
ACHIEVEMENTS
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Distributor CELLINK AB - World Leader in Bioprinting;
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Graduate Y Combinator;
Date of publication: 13.07.2020
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