Team: PA GourraudRaphaelle LorenJason Crane

Lean Launch Pad for the Life Sciences UCSF – Fall 2013

MIRA Medicine

Empowering complex clinical decisions

team

Raphaelle Loren - Business Lead

Hustler, Product, Marketer

PA Gourraud - Analytics Lead

Hustler, Hacker, Biostatistician

Jason Crane - Software Lead

Hacker, Imaging Software

LLP JOURNEY

GENESIS

Challenge #2

Selecting the right treatment at the right time

Challenge #1

Evaluating the disease

MULTIPLE SCLEROSIS: a case study

Bonus challenge

Education and communication with the patient

500,000 patients in North America

18,000 neurologists

$7.8B in drugs prescribed every year for MS

Total cost to society $28B/year

Competitive market for therapies

MS Economics

BEFORE LLP: Memorable quotes

If you can show pharmacoeconomics, payors will be really interested

This would be a great tool to monitor individual trajectories during clinical trials

This is a great telemedicine tool!

Head of Innovation, Sanofi

Dr. G, UCSF Neurology

Dr. S., community MD & entrepreneur

We’d be really interested in testing a tool like this for Alzheimer’s

T.M., J&J

A RICH MAN’S PROBLEM

PRODUCT OR SERVICE COMPANY?

MS OR MULTI-DISEASE FOCUS?

BMC #1

What did we learn?

LESSON #1

Our solution elicits advice and new ideas from almost all interviewees

What did we learn?

What did we learn?

LESSON #1 - Our solution elicits advice and new ideas from almost all interviewees

LESSON # 2

Focusing on a specific set of customers at a time will give us more insights into their needs

visualize data

MS Bioscreen

quicker assessment

trial and error

# of options

assess history

10 min saving per consult

Enhance relationship

with patients

Takes pride in art of

medicine

personalize guidance

facilitate patient/clinician

collaboration

keeping up with latest research

simplify data access

1/3 visit is about disease

education

no personalized

guidance

explain options

Recommend tx + disease

management tools/services

improve outcomes

See more patients

Slow down MS even

more

1 step back for 3 steps forward

What did we learn?

Key Alpha customer: Clinical researcher

Research Lab Director & MD

• Translational focus, lots of data

• Financially independent

• Can initiate clinical trials

Memorable quotes from LLP interviews

I can’t wait to see our research on here. When can we install this in our clinic?

[I see] this tool as a fundamental step into optimizing therapies in MS and will lead the implementation here.

I would love to test this tool for epilepsy

Prof Steinman, Stanford

Prof Miravalle, University of CO

Dr P, UCSF

What did we learn?

LESSON #1 - Our solution elicits advice and new ideas from almost all interviewees

LESSON # 2 - Focusing on 1 specific set of customers at a time will give us more insights

KEY TAKE AWAYS

1. Validated of initial target audience for the existing tool

2. Our Holy Grail is the predictions and treatment recommendations

3. We can create value before we get to that Holy Grail

MSParkinson’sPsychiatric disorders

Alzheimer’sTransplantations

Brain TumorProstate Cancer

Complex diseases

Descriptive

Comparative

PredictivePrescriptive

Vision 5-8 year

Precision Medicine$2B+

Analytics tools for Clinical Care$200M+

Target market 8-10 years 100-200M

New Market

Bio-informaticsKnowledge Management$215M+

What are we doing next?

• Partner with Alpha customers

• Pursue Customer Discovery

• Design validation studies for each of our key value props

Investment readiness

Thank you

MIRA Medicine

Empowering complex clinical decisions

2014 2015 2016 2017 2018

Pilot studies

MIRA MS custom installs MIRA MS marketable product

MIRA MS 2nd release

IDE from IRB

Cat III CPT

US Interim Trials US Pivotal Clinical Trials

IP

Multi-disease cognitive system platform

Pro

du

ct

de

v

Ca

sh r

ese

rve

Series A Series B

Series C

1 disease beta 2nd disease beta 3rd disease

Da

ta +

a

na

lytic

s

Research Ctrs

EMRs

1st gen predictive & recoComparative

2nd gen predictive & reco 3rd gen predictive & reco

Clinical trials

Technology Licensing

Provisional patents

Re

gu

lato

ry

/ IP

Algos patents

FDA – Class III – 510(k) with Clinical Trials

$10M

$30M

$20M

$40M

CPT codes

Mira Medicine

Provider: Multi-data type decision-making tool

Pharma = recruit new patients and keep them on therapy

CROs: carefully design studies with deep experts. Recruit patients faster

Custom solution to visualize individual health data in context - Reduce overall costs- Improve efficiency of

clinical trials - personalized tracking - Provide personalized

therapeutic guidance (pilots)

Custom tools for therapeutic decision-making in complex neurological disease

• Medical Centers • Pharmas• VA• EMRs?• CROs (for targeted

therapies)

Dedicated personal assistanceCo-creation of some of the IP?

Value-driven model (high personalization of offering)Fixed costs low (no major cap ex to get started, and some costs are proportionate to growth, while others are reduced through economies of scale.)Cash-flow should be watched tightly at the beginning (net 30 after submission of first invoice, unless we can negotiate % upfront)

Platform as a Service (+ 10-20% custom work)

Fee for service: Custom software development contractData curation services

Subscription: Maintenance/support contract

DIRECTAwareness: conferences, papers, online

Eval, purchase: Bus dev 1:1 (initially PAG + RDL)

INDIRECT: Partners such as McKesson? Bundled with an EMR? CROs? OEMs

• EMRs?• Data analytics company• Imaging processing

partner• Data aggregation

platform?• Pilot studies partners

(Med Center)• Design firm/data viz guru

- Algorithm development- Imaging processing- Software design and

development- UI design and development- Data curation (at later phase

for baseline)- Sales, marketing, customer

development

Development teamAI teamDesigner

BMC #1

Business Model Canvas:Problem Solution Unique Value

PropositionUnfair Advantage

Customer Segments

Cost Structure Revenue Streams

Key Activity Channels

Date: Version Name:

MIRA

06/05/2013 v02

Image processingIP attorneyCPA/CFOMed Center for studies/validationNMSS

5. Increases probability of success of clinical trial (patient id)

Expert dedicated project leadThought-leadership

Medical Centers

AI teamDB and mobile dev teamDesignerProductRegulatory Direct sales 1:1

Core team Dev toolsLicensing from UCSF (equity at end of Series A) - Fee for custom development

- Maintenance /upgrade subscription

Key Partners Key Activities Customer Relationships

2. Saves time3. Improves relationship

MS NeurologistsMS Patients

KOLs, case studiesPatient stories, community

OEM/Mobile tool provider ePocrates?NMSS

Key Resources

AlgosSoftware design and devImage processingCustomer developmentValidation & pilots

Channels

- Pay per use (cash or credits) (Credits are earned for sharing data)

1. Improved patient outcome by identification of optimal treatment paths

CROs

Payors

Pharma

4. Increases compliance

BMC #2

Business Model Canvas:Problem Solution Unique Value

PropositionUnfair Advantage

Customer Segments

Cost Structure Revenue Streams

Key Activity Channels

Date: Version Name:

MIRA (bold items are validated)

06/05/2013 v02

Image processingMed Center for studies/validationData generating devicesNMSSEMR Keep & Grow: Expert

dedicated project lead

Medical Centers Purchasing

AI teamDB and mobile dev teamDesignerProductRegulatory

Core team Dev toolsLicensing from UCSF (equity at end of Series A) - Fee for custom development

- Maintenance /upgrade subscription

Key Partners Key Activities Customer Relationships

2. Saves time3. Improves relationship

MS NeurologistsGet: Awareness campaign (Conferences, KOLs, articles)

APIs/existing systems

Key Resources

AlgosSoftware design and devImage processingCustomer developmentValidation & pilots

Channels

- Pay per use (cash or credits) (Credits are earned for sharing data)

1. Improved patient outcome by identification of optimal treatment paths

4. Improve patient retention; ROI on infrastructure; decrease penalties (MU2)

Direct 1:1 sales

Pharma

Payers

Clinical researchers

5. Visualize their own data; realize translational promise BMC #3