I'm not sure if I made myself clear in that last post. We have all discussed the potential competition from the large drug companies which at the point have gone nowhere. However Chirodoc had post various articles about the following organizations that were involved with the testing of Flurocarbons : University of Alberta, Childrens Hospital of Buffalo,Temple University, Russian Institute of Hematology,University of Michigan and the Ludwig-Maximilians University of Munich Germany. Each of these organizations has worked with Flurocarbons and has proved their effectiveness, but none of them are oriented to entering the market and producing a product.
There are four stage that the product will have to go through to come to market: (1) animal safety (2) animal efficacy (3) human safety (4) human efficacy. In the safety phase they will inject the subjects with the solution to see if there are any adverse reactions. In the efficacy stage they will induce a condition such as a heart attack to see the reactions. All of these phases are estimated to take 2 1/2 years before they receive a FDA approvable letter. The animal testing will take 9 - 12 mos and should begin in 1 - 1 1/2 months.
The company ahs received $300,000 from a private party, these funds will go Batelle to fund the animal testing. Dr. Drees estimates that it will require $30 million to completely bring the product to market.Dr. Drees is in touch with all of the major drug companies Pfizer, Merck, Eli Lily etc. They are waiting to see the results of the animal testing before they make their move. The $30 million that is needed to bring the product to market can come from an additional underwriting of stock or from funding from the major drug companies in the form of an investment, partnering or an outright offer to buy the company. Dr. Drees stated that once these companies see that all is going well with the animal testing he fully expects a feeding frenzy by the major drug companies to fund them, joint venture with them or to make a buyout offer. Dr. Drees wants to stay independant because of the enormous profit potential, but also told us that as somebody once told him " that if somebody shoves enough money down your throat your going to shut up".
D. Drees also point out that there will be published medical papers on the progress of the trials. I asked him if this wouldn't acclerate how fast that the major drug companies would be knocking at his door and he said yes it will. Based on these published accounts of the effectiveness of the trials there could be interest in as little time as 3 months after the trials begin.
One of the big questions is how much of the market share will SGNC have. At this point in time 100%. Dr. Drees said that they have a patent with the new surfactants already to go but that you want to do that at the last minute because then everyone can see what you are doing by reading the patent. He did say that because they have been at this so many years that their patent will cover every thing so extensively that he estimates it will take until the patent runs out before the competition can come into the market which would be 10 years. If someone was able to find some angle around their patents he still estimated that they would have at least a 7 year jump on any competition.
There was a lot more information given about how the product was used on close to 15,000 patients form 1989 to 1993. The only problem they came up with was an allergic reaction some people had to the egg yolk lecthin in the product. This allergic reaction was taken care of by a steriod injection.
I know there was a lot more information covered so what have I missed Prospector, Profiteer,General J, LT-Z & GA Hunter ?
Gwolf |
