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The iPlate™

Business Goals

The principal business objectives of iFluidics, Inc. are to: 

  • Launch into the unregulated US/Canada life sciences research market immediately following growth-stage funding and develop capability to produce up to 1 million iPlates per year

  • Commercialize the iPlate Platform for 96-well and 384-well variant iPlates and achieve FDA 510(k) certification approximately 18 months after funding 

  • Launch into the regulated US/Canada life sciences diagnostic market within 2 years of growth-stage funding

  • Achieve at least $15 million in revenues, and cash flow break-even by the end of year three post-launch 

  • Achieve and sustain annual growth of at least 25 percent after year three

  • Evaluate expansion into EU / Asian marke=Investigate product adaptation into the POC and other vertical markets beginning years 4-5

 

The key completed milestones for iFluidics, Inc. are: 

  • Authorization for patent licenses of 2 approved patents, pending renewals, and protection of trademark for the iPlate

  • Establish local laboratory to allow for product development and systems improvement 

  • Successful proof of concept of technology with prototype systems demonstrating efficacy in terms of A1c diagnostic immunoassay sensitivity, reduction in incubation time, and reduction in cost-per-well at small 5-10 microliter sample sizes 

  • Successful demonstration of system effectiveness in cellular separation and combination 

  • Development of iPlate Platform (software, hardware, consumables) to a “market ready” status for life sciences research market 

  • Recruiting and establishing a Launch-capable Management Team

  • Establishing business relationships with at least 2 prestigious life sciences research companies in bioassay and cellular research disciplines 

 

The key pending milestones for iFluidics, Inc. in the immediate future (1-2 years) are:  

  • Filing of Process and Utility patents for iPlate Platform system and components

  • Successful Growth Stage capitalization of $3.5 million 

  • Launch into US/Canada life sciences research market achieving $500,000 sales in one year post launch

  • Commercialization of the iPlate Platform in preparation for life sciences diagnostic market entry using already identified and vetted product development resources

  • Develop outsourced manufacturing capability, secure reliable supply chain to enable  capacity to exceed 500,000 consumable 96-well iPlates per year

  • Product line and iPlate Platform expansion to include capability of using 384-well iPlates 

  • Expand production capability to exceed 500,000 consumable 384-well iPlates per year

  • Ensure capability to manufacture iPlate Platforms in sufficient quantity to support expansion plans

  • Preparations for and submission of FDA 510(k) application for a Class II medical device 

  • Achieve over $4 million in sales revenue in year 2

 

The key pending milestones for iFluidics, Inc. growth stage (2 - 4 years) are:  

  • Launch into US life sciences diagnostics market following FDA Class II approval  

  • Expansion of production capability to achieve 2 million+ consumable units per year 

  • Solidifying product manufacturing and distribution systems and processes

  • Establish Partnerships / Collaborations with laboratory automation providers in HTS (example: Hamilton, Beckman Coulter, Tecan, etc.) 

  • Establish Partnerships / Collaborations with at least 2 prestigious organizations in research and diagnostics  markets overseas

  • Achieve minimum sales of $15 million and cash flow break even at the end of year 3 post launch with ability to grow revenues at minimum 25% annually

  • Evaluate practicality of expansion opportunity into European and Asian markets, develop strategy for, and execution of plans as appropriate