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Finnadvance

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

Date of last change: 11.08.2022
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Idea

We are developing miniature chips for the pharma, which mimic human organs and allow for animal-free drug discovery.

Current Status

Paid pilots in 2 biotechs, evaluations in US and EU ongoing. MOU with Korean pharma and India’s largest Biotech. 70K in revenue, and customers in 9 countries, we are scaling up our production.

Problem or Opportunity

Drugs have different effects on conventional 2D cell cultures and animals versus humans. 90% of drugs validated in pre-clinical models and animals fail during transition to human clinical trials.

Solution (product or service)

Organ-on-chip platform that enables efficacy and toxicology testing in human models before clinical trials, reducing the number of failing drugs at the costly trial phases, focusing on IPs of rare and orphan areas, like cancer, neurodegenerative disease, inflammatory disease, and others.

Business model

Finnadvance plan is to build the sales channel consisting of customers from all the different tiers to diversify the customer portfolio and deal flow as the Enterprise Companies hold the biggest Deal LTVs but the sales cycles can be extremely long. The Academic Research and SMEs can provide constant cashflow and provide a platform for O2C testing and validation. Tier 2 customer segment can provide the sweet spot by allowing longer subscription and larger Deal LTVs while being more agile and faster than large enterprise customers.

Incubation/Acceleration programs accomplishment

Kiuas, NOME
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