Animas
3223 Phoenixville Pike
Malvern, PA 19355
Ph: (610) 644-8990
Fax: (610) 644-8717
www.animascorp.comKatherine D. Crothall,
President & CEO
Kusal Das, Principal Engineer (Mechanical)
Ian Shipway, Principal (Electrical)
Mike Sullivan, Principal Engineer (Optical)
Product Line or Service
Company is developing an insulin infusion pump and an implantable optical glucose
sensor for insulin-dependent diabetics. The sensor will be a long-term implantable device
(5 years or longer), will make measurements on a quasi continuous basis (once every two
minutes), and will make a direct measurement of blood glucose as opposed to an inferred
measurement (of some other body fluid). Dates of market introduction of pump and glucose
sensor are mid-1999 and 2001, respectively. Ultimately, the Company plans to couple its
sensor and pump together to provide closed-loop control of blood sugar.
Technology/Proprietary Rights Pending
patents (3) on the glucose sensor. No patents filed on insulin infusion pump although the
company anticipates doing so. Scientific feasibility (in-vitro measurements) of sensor has
been established on 500 + patients.
Market Opportunities The company
believes the ultimate market size for the insulin infusion pump is $ 0.5 billion and for
the sensor is $ 1.2 billion. Current market size for pump is about $ 130 million. The
companys products can reduce or possibly eliminate both the acute and long-term
complications of diabetes. In United States, the complications of diabetes are responsible
for approximately 15 % of the total healthcare costs of the country.
Marketing/Sales and Distribution None
as of yet; however, the Company anticipates selling the pump through distributors and
independent representatives both domestically and internationally. The Company also plans
on hiring a network of independent nurses (per diem basis) to provide patient education
and training. The Company has not yet formulated a distribution plan for the sensor.
Competition In pump market, Minimed
($80M revenues) and Disetronics ($50M revenues). There is no implantable or
minimally-invasive/ non-invasive sensor on the market although there are many groups
attempting to develop such a sensor. The Animas device overcomes the signal-to-noise and
artifact limitations of transcutaneous optical sensors and the encapsulation tissue
limitations of implantable chemical/electro-chemical sensors.
Manufacturing The Company intends to
do assembly and final test of both sensor and pump in house. Components will be
manufactured by outside vendors in accordance with specifications. |