This is your brain on fluorine

Team: Kiel Neumann (EL)

Stephen DiMagno (PI)

Allan Green (Mentor)I-Corps 11/1/11

2

PET is a non-invasive medical diagnostic

technique for cardiac, brain, and tumor imaging

GFP technology makes imaging agents available

for clinical use, often for the first time.

Initial target indications: pediatric neuroblastoma,

Parkinson’s disease.

I-Corps 11/1/11

General methodology for

adding fluorine to lead compounds of

interest

The Business Model Canvas

Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds

IPPoP dataRegulatory planUnderstanding of the regulatory process

Contract cGMP precursor manufactureSalary, RentsClinical trials

SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising

Nuclear Medicine and Radiology departments

Technical Assistance (Image Atlas)FDA regulatory support

Radiopharmacies

Equipment producers

Prescribing physicians

Radiologist who perform studies

Sales of intermediates

Technology license

Product license (royalty)

Drug developersPharmaceutical development companies

IPPoP data

Radiologists

Technical assistancecGMP manufacturerRadiopharmacies

Direct sales of precursor

Sales of packaged precursor in cassettes

Cassette manufacturers

I-Corps 11/1/11

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1) Radiologists and Nuclear Medicine Physicians2) Radiopharmacy companies (Cardinal Health, Siemens, GE

Healthcare, IBA, AAA)3) Equipment manufacturers (GE, Philips, IBA, Advion)4) cGMP manufacturers

1) Pharmaceutical companies2) Radiologists and Nuclear Medicine Physicians

- Face to face with attending Radiologist at Stanford University

- Face to face with radiopharmacist at UCSF

- Conference call with Nuclear Radiologist at Memorial Sloan Kettering

- Conference call with president of medium size drug company with PET product at the FDA

- Telephone conference with cGMP facility

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I-Corps 10/12/11 6

- Immediate need for our product

- Currently used SPECT product for neuroblastoma is limited by absence of correlative CT data

- Our lead PET agent would provide more information on existing imaging equipment base

- Two customers offered to participate in clinical trials

- Potential for further development of other tracers identified in interviews

- Actual need for the general procedure

- Allow access to previously unknown tracers

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We provide accessibility

Only want GMP precursor in cassettes without development

Could license precursor synthesis for incorporation in cassettes

Require GMP precursor (or cassette) to develop our product with their synthesizer

I-Corps 11/1/11

Key meetings with two radiopharmacy companies, one large, one small. Shift in emphasis of the first product to the potentially more profitable application (Parkinson’s imaging).

Small player has only regulatory license to use the compound for clinical imaging, but is currently production limited. Sales are limited by chemistry and by the number of cyclotron facilities. Potential for ~50 fold improvement in sales.

Our IP is being scrutinized seriously by interested parties.

Large player desires interaction with company only (no academic tie in.)

Preferred deliverable from us is a cassette and technical expertise.

Pricing structure is right for lead compound.8

I-Corps 11/1/11

Face to Face meeting with president of small radiopharmaceutical company

Face to face with a clinician at Memorial Sloan-Kettering

Face to face with Global Production Manager of Molecular imaging for one of world’s largest radiopharmaceutical companies

OncoKinib collaboration between Geurbet, OncoDesign, and Ariana pharmaceuticals

Face to face meeting with head of R & D and International Production Manager from Linz, Austria

Eckert and Zeigler – German PET modular synthesis provider

Face to face meeting with Executive Director and CEO of Scott Tech Center in Omaha, NE

Introductory teleconference to CEO of Innovation Accelerator

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Scott Tech Center and Innovation Accelerator

Willing to offer free advice on startup strategy

Aid in developing two pronged strategy (bottom up – Product Portfolio Manager, and top down - Director of Venture Technology) with one of world’s leading radiopharmaceutical companies

Potential tie in to State economic development resources

10I-Corps 11/1/11

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Proprietary compounds for mass distribution

Cassette manufacturers’ pricing strategies for intermediates are appropriate for generics only.

Cassette-based system is mandatory for this market

Lead compound market is potentially large

Current provider is manufacturing limited (~100 doses/day). Our process would increase output dramatically with existing cyclotron infrastructure

European manufacturer/distributor with regulatory approval could incorporate our technology into their production system relatively rapidly

European data could be used by Company to support US FDA regulatory submission for product approval

General methodology for

adding fluorine to lead compounds of

interest

The Business Model Canvas

Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds

IPPoP dataRegulatory planUnderstanding of the regulatory process

Contract cGMP precursor manufactureSalary, RentsClinical trials

SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising

cGMP manufacturerRadiopharmaciesNuclear Medicine and Radiology departments

Technical Assistance (Image Atlas)FDA regulatory support

Radiopharmacies

Equipment producers

Prescribing physicians

Radiologist who perform studies

Sales of intermediates

Technology license

Product license (royalty)

Drug developers

Pharmaceutical development companies

IPPoP data

Radiologists

Technical assistance

Direct sales of precursor

R&D and clinical studies presented in journals and meetings

Sales of precursor through global finished pharmaceutical distributor

Conference call with top 40 Fortune 500 chemical distribution company Open to cGMP production of our potentially proprietary precursors Interested in developing a general “plug-and-play” cassette

Would allow implementation of our methodology and precursors for any radiochemistry module

Important for FDA compliant production of any drug used in patient diagnostics

Face to face meeting with Director of Business Development of a leading drug discovery outsourcing company Discussed preclinical studies and contract manufacturing of

proprietary intermediates

- Face to face with former Director of Chemistry of major pharmaceutical company- Significant interest in general methodology application to proprietary

compound syntheses

I-Corps 10/18/11 13

-Initially seeking to market method technology

-too diffuse, but many opportunities (i.e. product-driven opportunities more than general technology-driven)

-Need to identify specific imaging product opportunities

-Validated hypothesis for immediate need of tracers

-Raised question on identity of lead compound pipeline for Parkinson’s disease

-Recruited two potential partners for clinical trials

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Approximately 2.2 million procedures in the US.

Drug costs range from $700 (on-patent) to ~$150 (generic FDG)

US sales of radiopharmaceuticals for PET and SPECT $1.2 billion

US sales expected to grow to $6 billion by 2018

Global numbers approximately 2x

Source: Bio-Tech Systems Report #330; data for 2010.

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2500 installed PET scannersPET radiopharmacies cover the entire US marketRadiopharmacies have an interest in proprietary agents as a basis of competition in their market.

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Neuroblastoma

Prevalence: about 6000 US cases about 1000 new cases per year

Subjects receive 3-6 images/yearto follow response to therapeutic protocols

World market at U.S. x 2 gives potential of 40,000-70,000 scans/year

Drug costs $500/per gives ~$20 - $35 M

Parkinson’s Disease

DatSCAN sales in Europe ~$100 M

The world's highest recorded prevalence of Parkinson's Disease of any region is in Nebraska, with 329.3 people per 100,000 population

US – 600,000 patients 1 scan per year @ $500 = $300 M