Photo - NeuroSymmetry® Biotechnology Corporation (SG) Pte Ltd
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NeuroSymmetry® Biotechnology Corporation (SG) Pte Ltd

NeuroSymmetry® Biotechnology Corporation (SG) Pte Ltd

Singapore
Market: Medicine, Pharmacology
Stage of the project: Prototype or product is ready

Date of last change: 30.07.2020
Min investment
$  144.873
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Total required
$ 2.173.095
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Idea

The NeuroSymmetry® NS1 technology for the treatment of stroke and traumatic brain injury (TBI) will revolutionize the method by which brain injuries are treated, with the prospect of recovery from debilitating symptoms.

Current Status

The development work builds on many years of research studying the EEG patterns associated with various neurological conditions and applying this knowledge to developing condition specific brain frequency patterns to counter the imbalance found in the EEG. Our findings regarding patient specific frequency patterns have been published in peer-reviewed journals and we have contributed two chapters in medical books. We have also presented at sixteen scientific conferences. We received research grants from the Multiple Sclerosis Association of America and the U.S. National Institutes of Health. Our team has conducted nine Institutional Review Board approved clinical studies.

We already have a prototype built and have the schematics. Our engineer, Jo Beth Dow has developed the outline for our “Smart App”. The protocols for our Pilot Study are being developed by Dr. Richards, Dr. Kramer and Dr. Lawrie.

Market

The target market for the product are Stroke and Trauma patients. Stroke is Singapore's 4th leading cause of death and trauma in 5th. In 2017, there were 7,741 stroke cases (about 21 cases per day). Singapore’s rapidly aging population, coupled with the high prevalence of risk factors associated with the brain damaging injuries in the community and the high cost, the burden of these injuries is expected to increase dramatically in the years to come, posing challenges to the healthcare system and society. Our low cost, safer and more effective product is indicative of it becoming the pre-eminent medical treatment for stroke and TBI and so our product undoubtedly has huge potential in not just Singapore but also South East Asia.

Problem or Opportunity

The NeuroSymmetry® NS1 technology for the treatment of stroke and traumatic brain injury (TBI) will revolutionize the method by which brain injuries are treated, with the prospect of recovery from debilitating symptoms. The NS1 utilizes condition specific, extremely low-frequency (ELF) pulsing electromagnetic frequency patterns designed specifically to mimic and restore the natural frequency patterns of a normal, well-functioning brain.

The Target customers are Stroke Victims. Stroke is Singapore's fourth leading cause of death. In 2017, there were 7,741 stroke cases (about 21 per day). From 2008 to 2017, there was an overall increase in crude incident rate (CIR), from 187.9 to 229.6 per 100,000 populations while the crude mortality rate (CMR) fluctuated between 20.5 and 26.8 per 100,000 populations. Those who survive a stroke are often left with severe disabilities such as, cognitive disabilities, inability to speak or understand speech, loss of vision, numbness in the face, arms, or legs, and paralysis and depression.

The next set of Target customers are sufferers of Traumatic Brain Injuries (TBI). Concussions is a serious issue in Singapore especially amongst sports athletes and even as a result of road accidents. An athlete who sustains a concussion is 4-6 times more likely to sustain a second concussion. Up to 86% of athletes that suffer a concussion will experience Post-Traumatic Migraine or some other type of headache pain. Severe traumatic brain injury (TBI) is a major health and socioeconomic problem globally.

Trauma is the fifth principal cause of death in Singapore, with TBI being the leading specific subordinate cause. Road traffic accidents are the most common cause. The rising number of falls can be attributed to an increasingly aging population in Singapore. It is difficult to ascertain the full socioeconomic cost of TBI, but any financial estimate should include the cost of life-saving neurosurgical treatment and/or neuro-critical care in the acute phase, other ongoing medical expenses (e.g. ambulatory and rehabilitation care), and the loss of potential income for the patient and caregiver.

Hence, Singapore’s rapidly aging population, coupled with the high prevalence of risk factors associated with the above mentioned brain damaging injuries in the community and the high cost, the burden of these injuries is expected to increase dramatically in the years to come, posing challenges to the healthcare system and society.

Solution (product or service)

Currently stroke treatment involves spending long hours working with neuropsychologists, speech, physical, and occupational therapists. All these treatments have limited effectiveness.

While some pharmaceutical products are prescribed to treat symptoms such as depression, pain and muscle spasms, other drugs are prescribed in an effort to prevent a second stroke. A person suffering a stroke has a 25%-35% of having a second one. None of these pharmaceuticals help restore or repair the aberrant brain wave pattern found in the EEG of stroke patients.
Normalizing the EEG of patients is our objective. The best-known neuronal stimulation treatment on the market today for both stroke and TBI is Transcranial Magnetic Stimulation (TMS) which uses an abnormally high and unnatural field strength which can cause unwanted side-effects. Fainting and the triggering of seizures are the biggest risks. Other complications of therapy include discomfort or pain at the stimulation site, headache, spasms, twitching, transient induction of hypomania, transient cognitive changes, transient hearing loss and transient impairment of working memory.

These adverse effects are related directly to the abnormal power of the technology. TMS utilizes a field strength of 1-2 Teslas (10,000 Gauss = 1 Tesla). This is an abnormally high and unnatural field strength. The power that TMS emits (about 10,000,000 milliGauss) is strong enough to cause grimaces, twitches and muscle contractions when applied transcranially. Compare that to the natural field strength of Earth which is 25-65 milliGauss (1 milliGauss = one thousandth of a Gauss), and compare that to NS1 which utilizes a natural magnetic field strength of 50 milliGauss.

Financially, it is extremely expensive. TMS is an in-office medical treatment typically requiring many office visits (like a dialysis) at a mean cost of $500 per treatment. Initial capital costs for a clinician for one TMS delivery system ranges from $100K-$200K.

Competitors

Transcranial Magnetic Stimulation (TMS) is the best known neuronal stimulation treatment on the market today for stroke and TBI. Existing competitors are established companies producing TMS devices, such as EB Neuro, Mag & More, Neurosoft and Kejia. Neuronetics, eNeura and Cervel Neurotech are also companies that uses TMS to treat patients with migraines, strokes and TBI. The treatment for depression involves delivering repetitive magnetic pulses, for which repetitive Transcranial Magnetic Stimulation (rTMS) is used. Currently, only the Institute of Mental Health in Singapore uses it.

The NS1 technology is created as a much better, safer and affordable alternative.

Advantages or differentiators

NS1's superiority can be understood with the following analysis:

1. TMS utilizes a field strength of 1-2 Teslas (10,000 Gauss = 1 Tesla). This is an abnormally high and unnatural field strength. The Teslas that the TMS emits (about 10,000,000 milliGauss) are strong enough to cause grimaces, twitches and muscle contractions when applied transcranially. Compare that to the natural field strength of Earth which is 25-65 milliGauss (1 milliGauss = one thousandth of a Gauss), and compare that to NS1 which utilizes a natural magnetic field strength of 50 milliGauss;
2. TMS stimulates a small localized area of the brain while the NS1 is able to stimulate various areas of the brain.
3. TMS has a number of side effects. The most serious risks are fainting and the triggering of seizures. Other complications of therapy include discomfort or pain at the stimulation site, headache, spasms, twitching, transient induction of hypomania, transient cognitive changes, transient hearing loss and transient impairment of working memory; these side effects are related to the abnormally high power of TMS.
4. TMS requires capital cost to install. It is an in-office medical treatment typically requiring many office visits at a mean cost of $500 per treatment. Initial financial investment for a Physician for one TMS delivery system ranges from $100K-$200K whereas the NS1, a superior device, will be provided to clinicians at zero cost. Following in-office treatments, clinicians will have the ability to prescribe the NS1 as an at-home technology with patients either renting or purchasing a device from the clinician.

Finance

Our revenue model is primarily targeted towards capitalizing on ongoing treatment costs and not from sales of devices. It is based on;
1. provision of the device free-of-charge to the Physician, whom in turn prescribe the device and advice on its usage and billing. We will be renumerated via treatment costs. Each treatment will see a profit share between NeuroSymmetry and the Physician. Each treatment will cost the Physician $150 (depending on the market). The Physician is free to charge his patient the fee of his/her choice. Example: Treatment cost $500 per use with a minimum of 10 treatments for each patient. Total cost for full treatment is $5,000. The Physician will receive $3,500 while NeuroSymmetry will receive $1,500;
2. provision of the device directly to the Patient, whom will undergo remote consulting by our network of Physicians and have the device prescribed to the Patient. We will be renumerated via treatment costs. Each treatment will see a profit share between NeuroSymmetry and the network Physician. Each treatment will cost the Patient $300 (depending on the market) while the Physician will receive $150. Example: Treatment cost $300 per use with a minimum of 10 treatments for each patient. Total cost for full treatment is $3,000. The Network Physician will receive $1,500 while NeuroSymmetry will receive $1,500;

The treatment session revenue of strokes and TBI is the main revenue generator of our industry. So our business model will be to expand market breadth as fast as we can by distributing the device to as many physicians as possible at no cost so as to maximize the chances of profiting from treatment sessions conducted by physicians and patients.

Business model

The NeuroSymmetry® NS1 technology for the treatment of stroke and traumatic brain injury (TBI) will revolutionize the method by which brain injuries are treated, with the prospect of recovery from debilitating symptoms.

The NS1 technology offers a safe, effective and affordable solution for those suffering from strokes and traumatic brain conditions;

The NS1 is a noninvasive device that provides condition specific, pulsed electromagnetic field patterns designed to restore normal brainwave activity in those suffering from neuronal damage. The safety of the natural, Earth strength magnetic field of the NS1 and the condition specific frequency patterns provided by the device are unique selling points;

The NS1 can be used as an at-home technology through a smart app and will be provided free-of-charge to Physicians, who will prescribe it to their patients, with the usage tracked by an administrative dashboard monitored by the Physician and NeuroSymmetry.

Money will be spent on

The company will use the money to finish the commercial manufacturing (seed phase).

Offer for investor

At a valuation of $ 25 million, the company will use $ 3 million to complete commercial manufacturing and will award a ROFR (right of first refusal) to the investor which will be used on a General Partner which we are securing at more than 3x the current valuation.

Risks

1. We have a history of net losses and may not achieve profitability in the near future.
2. We may fail to monetise our business effectively.
3. We derive a significant portion of our revenue from treatment of TBI and Stroke patients.
4. We may fail to compete effectively in the markets which we operate in.
5. We may fail to grow the size of our user base or the level of engagement of our users.

Won the competition and other awards

Our findings regarding patient specific frequency patterns have been published in peer-reviewed journals and we have contributed two chapters in medical books. We have also presented at sixteen scientific conferences. We received research grants from the Multiple Sclerosis Association of America and the U.S. National Institutes of Health. Our team has conducted nine Institutional Review Board approved clinical studies.
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