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
Data Scientist
Michał Cieślak
Electronics Team Leader
Bartosz Wawrzacz
Spectrophotometry Expert
Maciej Ptak, DSc
Data Scientist
Mustafa Gebril
Sr Electronics Engineer
Jakub Niemczuk
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
