MT741384

Presents a compelling investment opportunity in a $50B market. The platform addresses a critical issue—streamlining patient recruitment with AI-powered matching and integrated logistics to significantly reduce trial delays and costs. It’s already gained strong early traction with key partnerships and letters of intent from major clinical research organizations, underscoring its market potential. Backed by a seasoned team with expertise in biotech, AI, and clinical operations, the company is well-positioned for rapid growth and high returns as it scales.

Additionally, its proprietary technology and first-mover advantage in an underserved market make it poised for strong long-term impact. With a clear roadmap to expand globally, this platform is set to transform how clinical trials are conducted, presenting a timely and lucrative investment opportunity.

Overview

Industry: Healthcare, AI-Driven Clinical Trials Recruitment
Founded: 2023
Mission: Revolutionizing clinical trial recruitment using AI and machine learning to streamline the process of matching participants with clinical trials, reducing delays and costs in drug development.

Problem & Solution

Problem: 90% of clinical trials face recruitment delays, contributing to significant cost overruns. Patient recruitment alone can consume up to 30% of a drug’s development timeline, adding billions to overall costs. Furthermore, the complexity of coordinating with patients, investigators, and trial sites causes inefficiencies.
Solution: The AI-powered platform addresses these pain points by automating patient matching with trial investigators, integrating with clinical trial protocols and EMRs, and managing participant logistics. This includes transportation for trial participants through partnerships with services like Uber and Lyft, paid by sponsors, making recruitment faster, cheaper, and more efficient.

Market Potential

Target Market: Global clinical trials, patient recruitment, and engagement services.
Market Size:
‍
→ Total Addressable Market (TAM): $80.7B
→ Serviceable Available Market (SAM): $50B focused on clinical trial recruitment in the pharmaceutical and biotech sectors.
→ Serviceable Obtainable Market (SOM): $2.4B based on capturing 1% of the market spent on trial recruitment by large pharma and biotech companies.
Growth Rate: The clinical trial recruitment market is growing at 5.8% CAGR, driven by the increasing demand for faster drug development, reduced time to market, and the need to enroll diverse patient populations for precision medicine trials.

Product

Core Features:

‍AI-Driven Matching Algorithms: The platform uses AI to automatically match eligible participants to trials, based on genetic, demographic, and medical data.

‍Gamified User Interface: Patients engage through a user-friendly, intuitive platform, incentivized through wearables integration and gamified health features.

‍Transportation Logistics: Integrated Uber/Lyft services ensure patient access to trial sites, with transportation costs covered by sponsors.

‍Sponsor Dashboard: Provides real-time insights for clinical trial sponsors, allowing them to monitor enrollment and engagement metrics.

‍Regulatory Compliance: The platform ensures full compliance with regulatory bodies like HIPAA and FDA, securing patient data.
Development Stage: The company has developed a Figma prototype with a minimum viable product (MVP) in development. MVP launch is scheduled for Q3 2024.
Intellectual Property (IP) Status: The company has a well-defined IP strategy, with patent filings planned after the MVP stage, covering its proprietary matching algorithms and operational workflows.

Business Model

Revenue Streams:

→ Subscription Model: Sponsors pay an annual SaaS fee for platform access, which includes trial management, participant data, and real-time analytics.

→ Per Enrollment Fee: $10,000 per enrolled patient, charged to pharmaceutical or biotech sponsors. The fee covers recruitment, screening, and logistics.

→ Consulting Services: Offering additional services for trial optimization, data integration, and patient engagement strategies.
Sales Channels: Focused on large pharmaceutical companies, biotech firms, and clinical research organizations (CROs), targeting clinical trial site managers and principal investigators. Marketing will also target clinical trial patient advocacy groups and health institutions.

Financials

Current Financials:
‍
‍Revenue: Expected $150K by Q4 2024 through early access and pilot studies.
‍Burn Rate: $3K per month, focusing on development and marketing.
‍Funding: $100K already raised through founder contributions and angel investors.
Funding Requirements: Seking $1.2M in funding for product development, marketing, and team expansion.

‍Product Development: $500K for the final stages of platform creation, AI optimization, and beta testing.
‍Marketing & Sales: $100K for outreach and partnerships with CROs, clinical sites, and pharma.
‍Hiring: $100K for expanding engineering, sales, and data science teams.
‍Operational Costs: $500K for data acquisition, customer support, and transportation partnerships (Uber/Lyft).
Financial Projections:

‍1-Year: $3.5M in revenue from SaaS subscriptions, patient enrollments, and consulting.
‍3-Year: $23M in revenue, based on scaling across large pharma trials and increasing client base.
‍5-Year: $60M in revenue, driven by global expansion and capturing a larger market share in clinical trial recruitment.
Use of Funds: Testing, development and marketing via conferences

Competitive Advantage

Unique Selling Proposition (USP): The platform stands out by offering an end-to-end patient recruitment solution that not only matches participants with trials but also manages logistics like transportation and patient engagement through gamified interfaces. The integration of AI ensures quicker, more accurate recruitment, while transportation services ensure higher retention and participation rates.
Barriers to Entry:

→ Proprietary matching algorithms, specifically designed to integrate with clinical trial protocols and EMRs.
→ A high-profile engineering team with experience in leading AI projects and medical data platforms.
→ Strategic partnerships with clinical research organizations and pharmaceutical firms give the company a first-mover advantage in clinical trial automation.

Team

CEO: A seasoned executive with 24 years of experience in biotech and pharmaceutical business development. Expertise in clinical trial management, working with CROs and large pharma companies to optimize trial operations.
CTO: A former director of engineering at a major social media company, with a proven track record of designing scalable machine learning algorithms and leading product teams in AI-driven projects.
CFO: Deep experience in financial management and fundraising for biotech startups, with a focus on scaling operations efficiently and driving high returns for investors.
Advisors: Clinical trial and AI experts, providing insight on navigating regulatory challenges and optimizing recruitment strategies.

Competitive Analysis

Direct Competitors:

‍Deep 6 AI: Focuses on hospital data integration, but lacks participant engagement features.
‍HealthMatch: Primarily consumer-facing, missing end-to-end recruitment.
‍Power: Early-stage competitor offering limited services, no transportation logistics integration.
Competitive Advantage: The platform differentiates itself with full end-to-end functionality, from recruitment to transportation and patient engagement. By managing the logistics and using AI to streamline recruitment, it ensures higher efficiency compared to competitors that rely on manual processes or limited automation.

Traction

Key Metrics:

→ Signed letters of intent (LOI) from three clinical research organizations (CROs), including leading companies. → Early partnerships with healthcare institutions and clinical sites in the process of negotiating trial enrollments.
Milestones:

→ Partnerships established with leading healthcare innovation labs and major clinical trial networks.
→ Invitations to present the platform at industry conferences, demonstrating high interest from the clinical research community.

Risks & Mitigation

Market Risks: Increased competition in the AI-powered clinical trial space could slow growth. Mitigation includes aggressive early-stage partnerships and unique offerings like transportation and engagement tools.
Operational Risks: Scaling the business to meet high demand could present challenges. Mitigated through structured growth, strategic hires, and focusing on key partnerships early on.
Financial Risks: Lean operational model dependent on efficient capital allocation. Risks are mitigated by keeping burn rates low and securing funding through milestone-based investment.

Funding Requirements

Amount Sought: $1.2M
Use of Funds:

→ Product development ($500K)
→ Marketing and sales outreach ($100K)
→ Hiring key personnel ($100K)
→ Operational expenses including third-party data and partnerships ($500K)

Exit Strategy

Potential Exit: Acquisition by large pharmaceutical companies, CROs, or health-tech firms looking to integrate advanced patient recruitment systems into their offerings. An IPO is also an option within 5 years, depending on market traction and expansion.
Timeline: The company expects to pursue an exit strategy in the next 3-5 years, based on reaching key revenue milestones and scaling operations globally.