Development of antimicrobials for cattle that prevent bacterial infections. sustainable, free of residue and doesn't generate resistant strains.
We have a Lab Prototype developed with excellent safety standards (OECD), with initial testings in honeybee larve, which are the first target of the technology, decreasing the mortality rate from 97% to under 3% when infected with American Foulbrood. This prototype is currently undergoing modifications for its industrial stage, reducing manufacturing costs and following FDA guidelines. Currently we are not selling, yet, many beekeeper associations and other cattle owners, such as cows and goats, have reached out in hopes of acquiring the product.
Our technology is designed to be sold to a major pharmaceutical group, with the belief that this model does not only benefit us, but also uses the channels and distribution centers the pharmaceutical company has, in order to reach the most ammount of countries and have the possibility to meet the demand of the product. But, initally, and as a test of our business model and technology, we focus in the backbone of agriculture; the honeybee. The beekeeping market is around $6 billion, and is a very heterogenic market, with a few key players and key territories, like New Zealand. The beekeepers are usually adults in their 30s to their 60s and require products that are cost-effective, with around a 60% of their budget going to mantaining hives and puchasing treatments. Alone in the US there are over 200,000 beekeepers, most of them in California, which is were we will begin testing our technology, assosiated with UC Davis.
Problem or Opportunity
We initially focused on the beekeepers, as they have a disease called American Foulbrood, a plague that can obliterate a hive and its best method of control is burning and quarantine when a hive shows signs of the infection. We developed a series of proteins that were able to prevent the disease and, also, worked on several infectious bacteria of different animals, increasing our vision of the use of this technology. Even working in multi resistant bacteria, which is a problem not only in the food industry, but that is now damaging the medical industry as well.
Solution (product or service)
Our technology consists of a group of natural, non GMO proteins that attack infectious bacteria in different fronts, by destroying their structures and methods of developing, without damaging benefitial bacteria. This technology has the potential to dethrone antibiotics as the gold standard in the food industry, as its wide range and powerful bactericidal properties, as well as its sustainable production and non-toxic profile, signify a new way of dealing with multiple food safety and production issues, now more in the eye of the public due to the COVID pandemic.
The biggest competition are antibiotics as they have been the Gold Standard for many years, but, as new information has begun to show, more and more countries are regulating the use of these treatments that, even though, are key players in maintaining the animal's health and wellfare. On the more new technologies, probiotics have also appeared and have data that supports the claim they improve the defenses of the animals. There is a major competitor in a similar field as our technology, which are phages. These types of treatments are a potential way to substitute antibiotics and have great results preventing diseases.
Advantages or differentiators
Antibiotics in the food industry have a big problem when it comes to its residues and the generation of super bugs, damaging decades of medical investigation, and leaving humans without alternatives to treatments once were effective. For probiotics, the benefitial alive bacteria, they work wonderful in improving the wellbeing and better fitness of the cattle, but, they arent a substitute for antibiotics, and the animals can still develop infectious and devastating diseases. For Phaged, the problem relies on the mechanics of the phages; for each bacteria there is a phage. Whereas our technology is wide-ranged, a new phage has to be found, investigated and developed for each new strain and bacteria, having a more costly investigation process.
This technology is designed to be sold at a price similar to the antibiotics in the market, as its method of production is relatively inexpensive, we are sure we can compete with the existing gold standard, and, since this types of treatments works best when are constantly being supplemented to the animals.
BeeTechnology's business model is centered in the discovery and development of bio based treatments, and as such, has stablished connections and communication with pharmaceutical companies, with the plan to retain the IP within the company, but externalize every process, like distribution and marketing, to the company which has both the means and the chanells to connect with the final user.
Money will be spent on
The funding we will receive is destined, first and foremost, to filing the patent for the technology and to complete the product development in its industrial prototype, with a more cost-effective scalabillity implementation. This will be followed with further protection of the manufacture process, as we designed a specific method to obtain the proteins of these microorganisms. The next item is focused on the regulations, more specifically, the FDA, in which we will begin with an INAD file and test effectivity, safety and efficency in US territory for the active components of the technology. Other expenses are legal and consulting fees, as well as the teams payroll.
Offer for investor
On the basis of the investing in this early-stage tech, we are offering a SAFE type of investment, with a 20% discount, with a CAP of $1.6 million. On another hand, depending on the investor's profile, financing and involvement in the development, we are willing to change the investment vehicle to equity, up to 10,8%, and become a member of the board, having a voice and vote in matters of the development and roadmap of the technology.
The main risks of the technolgy, as it is in its early stages, is the possibility of arriving late at the market, having made a solution that is no longer required, this risk is also a consequence of the risk of running out of funding, as the investments are the economical motor that can speed or slow the development of the technology. On a more technical note, we have tested the technology against several pathogens and in animals, but the question remains as the dosification in field trials, where conditions are not as controlled and the proteins could be denaturated of have a reduction in their performance.
Incubation/Acceleration programs accomplishment
During the year 2019 BeeTechnology was selected for the GaneshaLab international acceleration program. This occurred in Santiago de Chile, in which several life science startups participated, attending courses of bio-business, IP, client and investor mapping, as well as roadmap development and team building.
Won the competition and other awards
In GaneshaLab's program, we were awarded with second place of the generation, receiving a fully paid soft-landing in the US for us to develop important meetings, alliances and market mapping, although COVID delayed this trip, we still continued with our scheduled meetings via zoom, invited to several facilities when there were no travel restrictions. As well as the soft-landing, we are eligible for extra funding from GaneshaLab, up to $200,000 in our next investment round.