NovaXS Biotech is a smart medical device startup on a mission to simplify the medication self-administration process and improve remote healthcare outcome with our patented needle-free solution.
Current Status
We have recevied investments from Baxter Healthcare and Edward-Elmhurst Health and is currently incubated by mHUB, the largest prototyping center in the U.S. We have signed licensing partnerships with Helixmith (one of the largest gene therapy Korean public companies), Juvena Therapuetics, and Baylx Stem Cell Innovations, and we have partnered up with UC Berkeley QB3 Laboratory to support their regenerative medicine research. We have scheduled an IRB study at UIC Hospital later this year, and have signed 8 LOIs with our future clients (IVF Clinics as our initial target market).
Problem or Opportunity
The problem we are solving is associated with medication self-administration due to three aspects: (1) fear of needles and skin irritation and delivery inefficiency of needle solution; (2) stressful self-administration management and high error rate; (3) lack of communication channel between providers and patients on treatment progress in remote healthcare setting.
Solution (product or service)
Our patented smart needle-free drug delivery system allows patients to self-administer the medications subcutaneously or intramuscularly within 0.3 seconds and tracks long-term treatment progress. The device simplifies the whole medication preparation and administration process with the capability to automatically load the medications from the vial. expel the air in the cartridge, and verify the dosage volume for the patients with one click on the base station. The injection data is automatically collected and analyzed with our APP.
Business model
We have two revenue streams: (1) B2B licensing to pharmapheutical companies to conduct a co-development with their new drug candidates and become their only delviery method to share the revenues when the drug receives clearance; (2) B2B2C Sales: our pricing model is very attractive with a low device one-time purchase fee and a recurring revenue from the disposables and use of software.
