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Brighter AB

Smart, innovative, digital outpatient solutions (healthcare)

Sweden
Market: Another
Stage of the project: Operating business

Date of last change: 05.11.2020
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Idea

Brighter addresses common welfare challenges through a group of innovation companies. It aims to improve health outcomes and wellbeing amongst global population and facilitate increased efficiency throughout welfare system by introducing ground-breaking technology and innovative services.
- We focus on diabetes first through mobile-connected solution Actiste® (https://actiste.com)
- We are headquartered in Stockholm with further offices in Dubai & Jakarta
- We are listed on Nasdaq First North

Current Status

After several years of product development and certifications, Brighter successfully entered the commercial phase in 2020 by launching its pioneering solution for diabetes management – Actiste Diabetes Management as a Service (“Actiste Service”) – that addresses some of the most pressing global issues in healthcare today: inefficiency, rising costs and limited resources.

Business Traction (2019 and 2020)
- April 2019: Brighter won the Swecare Rising Star Award 2019.
- June 2019: Brighter was certified under ISO 13485.
- September 2019: The Actiste device was awarded x2 CE marks, 2 EC Certificates from Tüv Rheinland
- October 2019: Brighter officially kicked off its commercial phase at GITEX Tech Week in Dubai. Acquisition of Camanio AB, a Swedish innovation company developing digital home care solutions within the elderly care sector.
- November 2019: Brighter invested in Swedish digital healthcare provider Accumbo AB
- January 2020: The US Patent and Trademark Office granted Brighter’s patent to securely combine MDD and IVDD into one unit. Successful completion of the USD 20 million rights issue - 99.5 % subscription rate. Brighter acquired Nectarine Health, a Swedish innovation company developing AI-care solutions within the elderly care sector.
- March 2020: Brighter’s main Actiste patent granted in India.
- April 2020: Brighter’s Actiste recognized by Fast Company as one of the best World Changing Ideas 2020.
- May 2020: Actiste Service launch in Sweden.
- July 2020: Brighter expanded its product portfolio by obtaining CE marking for the new device “Actiste Mini”. Brighter initiated partnership to deliver Actiste to the Provincial Government of West Java in Indonesia.
- August 2020: The U.S. Patent and Trademark Office announced that they will grant Brighter an additional patent for data-driven monitoring of mobile medical devices.
- September 2020: Brighter co-founded the new Nordic diabetes foundation BEAT Diabetes
- October 2020: Patents for monitoring medical devices were approved in Singapore, Mexico and Japan.
- November 2020: Brighter’s pioneering diabetes management solution Actiste received market approval in the Kingdom of Saudi Arabia.

Market

Customer Segments:
- Brighter can service the following client types: diabetes patients, healthcare providers, mobile network operators, authorities and academic bodies, insurance companies and corporates, clinical research organisations, pharmaceutical companies.

Market:
- c. 460 M potential subscribers globally (40% of which are addressed with Actiste, and 60% of which are addressed with Actiste Mini)
- Selection of markets based on: regulatory fit, rapid growth/high prevalence of diabetes, national digital health initiatives
- Our recent acquisitions of Camanio and Nectarine Health, and the investment in Accumbo, have also provided the company with additional long-term growth opportunities beyond diabetes driven by global megatrends related above all, to a growing and increasingly elderly population.

Problem or Opportunity

Diabetes is growing at rampant rates in large parts of the world, and caused at least USD 760 billion dollars in health expenditure in 2019 – 10% of total spending on adults. Approximately 460 million people are living with the condition today, and the number is expected to increase to c. 700 million in the next 20 years.

By helping patients improve adherence to their treatment guidelines and reduce long-term complications, we aim to improve the quality of life for millions of people, while also easing the burden on healthcare systems all around the world.

- Controlling diabetes is a life-long focus for patients, where adherence to treatment plans is key for improved health outcomes. It’s the lack of adherence to plans that leads to long-term complications, including kidney failure, blindness, amputations, heart attack, and stroke.
- Patients don’t follow their recommended treatment plans. They lack knowledge, support, motivation.
- Caregivers don’t have access to real-life patient monitoring data to optimise treatments and advice. They lack insights, access to patients’ everyday life.
- Managing the growing incidences of diabetes places a huge burden on already strained healthcare systems and is one of the major clinical challenges of the 21st century.

Solution (product or service)

Actiste: a complete diabetes-care solution designed for telemedicine, introducing new possibilities in healthcare.

Actiste is the world's first complete IoT care solution for assisting and treating insulin-dependent diabetes. The unit brings together and combines all the necessary functions for diabetes care – blood sampling, blood glucose measurement and drug injection – in a single connected device. Brighter is the only company in the market offering an all-in-one device, presenting a unique opportunity for improved health outcomes and efficiency in healthcare.

The Actiste device is offered as part of a subscription service at par with the monthly average cost of a blood glucose monitor, injection pen and related consumables for type 1 and type 2 diabetes patients in the market. The service includes a digital platform for everyday support, feedback and management, global connectivity, different levels of data sharing, continuous replenishment of consumables directly to the home, and enables personalized coaching to continuously optimize and improve treatments.

The device is based on patented technology for collecting data on specified biomarkers and injected volumes of drugs. With state-of-the-art eSIM technology provided by Ericsson, Actiste has global out-of-the-box connectivity, making it completely independent of other devices to utilize and share health and treatment data. The “always connected” mentality, ensuring that all relevant health/medical data is secured no matter where you are, is crucial to be successful in diabetes management – a highly data-driven disease.

The concept of which the Actiste Service is based upon is something we call The Benefit Loop – the heart of Brighter, a self-improving treatment loop, driven by increased access to data, real-world analysis, healthcare access, and most importantly, personalized feedback to drive effective motivation and help the individual stay on track and follow treatment recommendations. To add even more value, Brighter has also launched a unique digital community for young people living with diabetes – a safe space to discuss, learn and connect.

Actiste is built upon a unique, patented platform with two CE marks (Actiste is regulated under both the EU Medical Devices Directive (MDD) and Vitro Diagnostic Devices Directive (IVDD) due to the multiple functions of the device), AI monitoring of a medical device, log of actually injected drug, future proof with a global license for micro needle technology for biomarker measurement and injection for application to diabetes.

By providing time stamped, correlated, valid, real-life data on blood-glucose values and actually injected insulin volume, Actiste gives people with diabetes and their caregivers a clearer picture of the condition and closer control over daily care. This can support improved adherence to treatment guidelines, peace of mind for family members, and more efficient use of limited healthcare resources.

The Actiste Service has several additional applications beyond the ability to remotely monitor diabetes patients’ health. The clinical patient data that Actiste provides can be used for descriptive statistics and demographic analysis with selections of data, down to the individual level.

To address a wider group of patients suffering from diabetes, Brighter recently expanded the Actiste family with Actiste Mini, based on the same technological platform as Actiste but without the insulin injection functionality. This means Brighter can support the whole global diabetes community going forward.

Competitors

Alternative devices able to store and analyse data (incl. insulin pumps, continuous blood-glucose monitors) are costly and offered to small population of diabetes patients. Although data can often be shared between devices and programs, it is either through physical cable, or via Bluetooth, NFC or Wi-Fi. There is certainly a gap in the market for cost and user effective solutions for secondary prevention and cases when pumps are not an alternative.

Advantages or differentiators

Our competitive advantage:
- Except for systems containing pumps, it is only Actiste (through proprietary IP) that can record exact administered insulin dose and provide continuous real-life data on medication and blood glucose – crucial in data-driven diseases like diabetes.
- Brighter's technological platform can be modified to fit purpose of treatments in several therapeutic areas beyond diabetes.
- Recent acquisitions and investments provided Brighter with other long-term growth opportunities driven by global mega trends.

Finance

Brighter aims to help millions of people and global expansion is the recipe for reaching that goal. With that in mind and the complexity of the regulatory environment in different jurisdictions, Brighter has adopted a glocal approach. Depending on the local conditions we adapt our establishment and go-to-market model, always keeping “helping millions of people” as the guiding principle, meaning we adapt the pricing of the subscription service (where customers pay monthly payments) to achieve a high volume – a universal pricing model.

Our target is to reduce life cycle costs of diabetes by at least 20% over 5 years and serve at least 30% of the addressable markets, focusing primarily on countries that have high prevalence of diabetes.

Brighter attracts customers of focus through:
- B2G: offtake and delivery agreements with government authorities
- Offtake and delivery agreement with distributors and mobile network operators in key markets
- Wholesale offtake agreements with Clinical Research Organisations
- B2C: Active citizen
- B2B: Data wholesale agreements, insurance companies, healthcare providers, foundations
- Monetising Big Data
- Royalty payments based on IPs

Business model

Key strength: partnering with the best in class (incl. Ericsson) to leverage internal competence and disruptive capacity aiming for quality and global roll-out.

Strategy: By offering subscription service (universal market approach, flexible pricing), Brighter increases customer loyalty and generates recurring revenues (c. EUR 1Bn turnover pa target). Focus is on volume deployment and data revenue potential and marketplace transaction fees.

Money will be spent on

Commercialisation, global expansion, operating capital, production, R&D, marketing

Team or Management

Won the competition and other awards

- Winner of Swecare Rising Star Award 2019
- Winner of Red Dot Award 2018 (good design and quality)
- Finalists in Fast Company’s 2020 World Changing Ideas Awards in the "Health and Wellness" category, Honourable mention in "The best world changing idea overall in Europe, the Middle East and Africa" category

Invention/Patent

The company currently has 27 granted patents and 38 patents pending.

Global scope of protection
EPO, US, SE, GB, DE, FR, JP, CH, NL, BR, ID, IN, TR, PL, MY, MX, SG, KR, VN, TH

Patent families
- Combination into one device “all-in-one”
- Actually injected dose
- Regulatory
- AI monitoring
- Micro needle technology

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Idea
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