Tuesday, January 27, 2009

Introducing NanoMed - A early stage Columbus biotech company

Who is NanoMed?
NanoMed, Inc. developed a nanotechnology-based gene delivery system for researchers to rapidly prototype new gene therapies, resulting in revolutionary, faster cures to many diseases. Nanomed’s first product, the ZipDisc Gene Delivery System, enables these results by greatly improving test success rates, raising cell survival rates, and reducing the amount of time to produce test results. They recently received a TechColumbus TechGenesis grant to be used for a market assessment and development of a working prototype.

Can you tell us a little more about ZipDisc?
The target customers for the ZipDisc Gene Delivery System are genetic researchers at universities, pharmaceutical companies, and hospitals, who are developing cures for cancer, autoimmune diseases, and other debilitating disorders. Unfortunately, the pace of breakthrough efforts has been dramatically hampered by current gene delivery methods, which yield low success rates (transfection efficiency), result in cell injury and death, and are time inefficient. In fact, many labs are forced to use more than one gene delivery product as no single product can meet their needs, and research can take months to complete. The ZipDisc Gene Delivery System will address the researcher’s pain by greatly improving the success rate from 40-70% to 90%, raising cell survival rate from 50% to 95%, and reducing the amount of time to produce test results from 3 months to 3 days.

The Solution
The ZipDisc Gene Delivery System has been developed through extensive research in the Ohio State University’s bioengineering labs, and consists of a base unit that applies a low-voltage charge to the proprietary, one-time use cartridges that hold the genes to be delivered to a cell. When the charge is applied, the genes are propelled into a cell though openings in its membrane. The genetic transfer is achieved without the need for potentially harmful viruses to carry the genes, and the procedure is user-friendly and readily adaptable to existing cell biology lab practices. As the genes are not directly injected into a patient, no FDA approval is required, thus dramatically reducing the time to market for the ZipDisc system. A pipeline of additional products will be tailored to other markets such as agriculture, drug delivery, and therapeutics. NanoMed has obtained an exclusive option to license the technology patent from OSU.

The Market
By addressing the fundamental problems faced by geneticists in their research efforts, NanoMed will be able to capture a sustainable, growing market share of the gene delivery market, with competing gene delivery products currently valued at over $150 million and experiencing a double digit growth rate. The ZipDisc system provides significant performance advantages over all other gene delivery techniques.

Financial Plan
The extremely low cost of materials for the cartridge generates a high margin even though NanoMed will use contract services for both manufacturing and distribution. NanoMed is seeking to raise $3.5 million over three years from business plan competitions, grants, and investment. Initial seed funding including prize winnings from business competitions will be used to further develop the prototype for independent lab testing across numerous cell lines and to conduct further in-depth market analysis to refine the business plan.

NanoMed Management Team
Bruce Caldwell, MBA (Univ. of Cincinnati) and team leader, is a mid-career Chemical Engineer. Mihaela Jekic, biomedical engineering PhD (OSU) candidate, has expertise in medical device development. Aaron Sander and Eric Cochran, both PhD (OSU) candidates in Physics, bring an inside knowledge of the technology and how to market to researchers. Our executive mentors, Paul Dymerski, PhD, and Seth Cramer, MBA, both have experience leading technology start-ups from concept through commercialization and acquisition. Dr. S. Michael Camp, Director of the OSU Center for Entrepreneurship, is our faculty advisor. Dr. James Lee, professor of Chemical and Biomolecular Engineering at OSU and principal inventor of the technology, leads our technical advisory board.

How can I find out more about NanoMed?
Seth Cramer, CFO


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