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 the 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 market 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 the 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 in 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, and 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 the 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 (for 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 the ability to grow revenues at a minimum of 25% annually

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