In the United States, 38.4 million people have diabetes, but only 29.7 million people have been diagnosed;
this means that over 20% of the diabetic population does not know that they have diabetes.
This highlights a clinical need in improved diabetes identification and tracking.
Currently, two blood biomarkers are used to track diabetes progression at home: blood glucose and A1C.
Results from short-term glucose monitoring are too volatile for immediate diagnosis, while A1C monitoring is long-term and does not provide updated information on diabetes progression.
In collaboration with Epinex Diagnostics, we have developed a novel point-of-care diabetes tracking device that targets glycated albumin (GA).
In comparison to blood glucose or A1C, GA allows caretakers to track diabetes progression with a 2-4 week frequency.
This medium-term tracking period of GA does not suffer the volatility of tracking blood glucose nor the long delay of tracking A1C.
Plus, while other solutions already exist to track GA, our device will be the first to allow patients and caretakers to do so at-home.
Market & Competition
TECHNOLOGY
SPEED
FREQUENCY
CONVENIENCE
NOVELTY
COST
A1CNow
5 min
3-6 months
At-home
HbA1C
$132
Abbott Afinion™ HbA1C
3 min
3-6 months
In-lab
HbA1C
$156 for 15 tests
Clinical Testing
5 min
Monthly
In-lab
Glycated Albumin
$16
Glycate Innovate
2 min
Monthly
At-home
Glycated Albumin
$15
When it reaches the market, our product will be the first of its kind in diabetes management.
Competing solutions offer some of the benefits of our product, but not all at once.
Glycate Innovate will produce the first at-home diabetes tracking device targeting glycated albumin.
Our target population is the Type II diabetic population.
The initial market strategy targets 3 million patients in California diagnosed with Type II diabetes, representing an SOM of $45 million.
This focused entry point enables a strong foundation and sustainable path for expansion nationally and globally.
Our end distribution goal is simple: maximize accessibility to patients while also maintaining a steady revenue stream.
We initially plan to partner with major retail pharmacies, such as CVS and MinuteClinics,
to maximize initial accessibility for our product, and then further expand distribution through online retailers such as Amazon.
The initial retail price for our diagnostic device will be around $15 per test to ensure accessibility to underserved populations.
We also plan to pursue partnerships with health insurance companies to sponsor manufacturing costs and expand insurance coverage to our product,
further lowering the end-cost to our patients.
