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Glucostation

Monitoring diabetes at home is easier than ever before

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INTRODUCTION

1 mln
diagnosed diabetic patients
1 mln
deaths per yer

Pricking a finger for cyclic blood tests is a psychological barrier for most patients, which is why they neglect the prevention of diabetes and other diseases.
This leads to low treatment efficacy, ineffective prophylaxis, and increased mortality.

There are 463 million diagnosed diabetic patients in the world, it is estimated that twice as many do not know about their disease yet.
The scale of this problem has resulted in 3.7 million deaths per year due to complications from diabetes.

Despite the huge potential of the market, there is still no comfortable (non-invasive) method to test blood sugar levels.

GlucoActive has developed a non-invasive blood glucose meter technology.
We used Raman spectroscopy, a method which, according to our experts, has the greatest potential for commercialization.

About the company

Glucoactive is a medical start-up developing the technology of non-invasive glucose measurement based on optical methods – spectroscopy. 

Our company has been operating since 2019 and we are based in Wrocław, where we employ 30 specialists. Currently, we are after clinical confirmation of the operation of our technology (during an Initial Clinical Experiment on 60 patients). We are currently working on the medical certification of the first device, its adaptation to production, and its commercialization.

Date of establishing: 11.01.2019 | Employees: 30
HQ: ul. Liskego 7, Wrocław, Poland

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THE FIRST PRODUCT

Glucostation

It is a non-invasive blood glucose meter intended for home use. The target customers for this device are mainly type II diabetes (90% of the diabetic population) – due to the required one-time calibration. The next version of the device will not require calibration and will be intended for B2B – hospitals, clinics, pharmacies, and diabetes screening.

NON-INVASIVE MEASUREMENT

Painless, quick measurement that does not require contact with blood or other body fluids.

HIGH ACCURACY

The final device will meet the most stringent accuracy standards for blood glucose meters.

NO DISPOSABLES

In contrast to solutions available on the market, our device does not have any disposable elements, i.e. strips, sensors, etc.

THE TEAM

MANAGEMENT

CEO

Robert Stachurski

CTO

Bartosz Kawa

Project Manager

Dariusz Gajewicz

R&D

Product Director

Karolina Orłowska, PhD

Optics Team Leader

Krzysztof Adamski, PhD

Michał Cieślak

Data Scientist

Michał Cieślak

Electronics Team Leader

Bartosz Wawrzacz

Maciej Ptak

Spectrophotometry Expert

Maciej Ptak, DSc

Data Scientist

Mustafa Gebril

Jakub Niemczuk

Sr Electronics Engineer

Jakub Niemczuk

Jakub Bukowski

Data Scientist

Jakub Bukowski

Data Scientist

Aleksandra Perz

ADVISORS

Biochemistry expert

Prof. Marek Langner

Spectroscopy expert

Grzegorz Zatryb, PhD

Optics expert

Prof. Marta Kopaczyńska

Commercialization expert in the UK

Christian Kumar

Commercialization expert in the DACH region

Katarzyna Wilk

Diabetes expert

Danuta Żytkiewicz-Jaruga, PhD, MD

Diabetes expert

Teresa Stasińska, PhD, MD

COMPETITION IN R&D

Technology Concept (TRL2)

Proof of concept (TRL3)

Technology Demonstration (TRL4)

Working
prototype (TRL 5)

Clinical proof of operation (TRL 6)

Final product

Spendings

? mln €

65 mln €

5.3 mln €

50.7 mln €

23. 2 mln €

76 mln €

GlucoActive has proven technology and most effective R&D process

1 mln €

ROADMAP

Current stage

2017

THE CONCEPT
the phase of forming the idea of technology

Q1 2019

WORKING MVP
the GlucoStation prototype is ready for testing

Q3 2019

INITIAL CLINICAL EXPERIMENT
carried out on 60 patients

Q3 2020

IP PROTECTION
patent application for technology

Q3 2022

FINAL PRODUCT
Finishing final GlucoStation product ready for medical certification

Q3 2022

MEDICAL CERTIFICATION
Clinical trials, TUV audit

Q1 2023

SALES

MAIN RISK FACTORS

The risk factor

Risk mitigation

Probability of occurence

Delay in the R&D process

The current investment has a buffer because so far unknown problems are to be expected with the development of new technologies. If the buffer does not cover the demand, it will be possible to obtain additional capital/grant.

Medium

Not getting medical certification for the blood glucose meter on the first try

In this case, the Company could release the device as a Medical Product (instead of the Glucometer) - such a procedure was performed by, among others FreeStyle libre - Europe's best-selling semi-invasive blood glucose meter

Medium

Changing the market environment - entering the market of a competitive device (before our solution)

The market is so large that even a few producers are not able to cover the demand. In addition, the introduction of the first product will mobilize other market players to look for alternatives - e.g. a license from GlucoActive.

Low

CAP TABLE

51%

12%

10%

Robert Stachurski – CEO, founder
Jakub Niemczuk – Senior Engineer, founder
Maciej Wysocki, founder
The founders own more than 73% of the company

26%

~ 10%

~ 4%

VC 1 – pre-seed investor
VC 2 – seed investor 
Angel investors from USA, UK and Poland (before converting)

INVESTMENT HISTORY

Closing date
Round
Type of transaction
Value
Pre-money valuation

January 2019

Pre-seed

Equity

270,000 €

1,000,000 €

March-July 2020

Bridge

Convertible Notes

170,000 €

3,500,000 €

December 2020

Seed

Convertible Notes

460,000 €

5,600,000 €

July 2022

Bridge

Convertible Notes

1,500,000 €

7,000,000 €

2023/2024

Series A / IPO

Equity

10,000,000 €

100,000,000 €

INVESTMENT OFFER

  • Round size : 1,5 million EUR (33% already collected, minimum investment 100,000 EUR per investor)
  • Closing date : 31.08.2022
  • Preferred instrument: Convertible note conversion in early 2023 concurrently with other lenders
  • Pre-money valuation: 7 mln EUR

Benefits for the investor

  • Participation in the last investment round before medical certification, after which we expect a tremendous increase in the company's valuation (even up to 100 million €).
  • Investment in a company with a huge social impact (improving the quality of life of 10-20% of the population).
  • Potential for a very high return on investment
  • An investment in innovative, breakthrough technology in the healthcare industry.

Purpose of funding

  • Completion of medical certification for the GlucoStation device (500k €)
  • Sales, production and operational stability until profitability (500k €)

Possible exit scenarios

  • By selling shares on the stock exchange (we allow the possibility of an IPO after medical certification and the start of the sale).
  • By selling shares to a strategic investor in the next rounds.
  • MBO management buyout
  • A cquisition of the company (M&A)

THE PROJECTED VALUATION OF THE COMPANY

0,25 mln €

1 mln €

3,5 mln €

5,6 mln €

7 mln €

30 mln €

100 mln €

150 mln €

2018

2019

2020

2021

2022

2023

2024

2025

CE Medical Certification

Increase
in sales

CONTACT FOR DETAILS OF THE ROUND

ROBERT STACHURSKI

CEO in GlucoActiveSp. z o.o.
Phone: +48 601 642 466
E-mail: robert.stachurski@gluco-active.com 

© 2022 GlucoActive
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