Hi Brainchippers, so I have been in discussions with Samuel from Biotome regards to the private capital Raising and I have just got conformation that I can share this email with you guys. I think there is some valuable information here to be looked at.
If you have been following this process on the Biotome thread you are aware that he told me to keep our conversation private, but it turns out he was only referring to information specifically relating to the cap raise and not the serious of questions/answers relating to their Brainchip partnership. I have attached the confirmation email below and copy/pasted the response that has valuable information.
Hi Petter,
Thanks for getting back and showing interest.
I’d be happy to respond as detailed as I can (keeping in mind confidentiality as you alluded to).
It is still early days when it comes to research results from the collaboration. In very general terms, we have seen that Akida can be used to process the type of data we provide, and can efficiently recognise patterns in our datasets. Our joint project involves a great deal of logistics with regards to getting hold of suitable patient samples. And as always in the type of work we are involved in, getting hold of patient samples (and ethics approvals etc) is usually what takes up the majority of the project time.
Whenever we have sent data to the Brainchip team, they have been very quick to process and get it back to us.
We don’t expect to be able to report any final findings from our project before June this year.
We are definitely positive with regards to using the Akida chip in future products. But it is early days, and we cannot say for sure whether this will happen or not. Where Akida can provide most value is with a multiplex (many markers tested in parallel) point-of-care test. We could then envisage the Akida chip being embedded in a hand-held device (similar to a finger-prick glucose test device), and would carry out in-device data processing and recognition. Such a test/device is however a few years away for us, and would need substantial capital raising to reach.
In our best case scenario, we aim to have a stomach cancer risk test on the US market within 18 months. The path to market is long with regards to FDA approvals. Typically, diagnostic companies would aim to first market a research-use-only test. Such a test would not require FDA approval, so it has a shorter path to market, would still generate revenue and would importantly be a good marketing tool for when the test is FDA-approved and can be used clinically. To reach FDA approval is likely to take an additional 15-18 months.
The customers will be different, depending how you view the question:
- The customers we will sell to are likely one major diagnostic company partner per product. Our aim is to license or sell the IP for each of our projects/products to one partner that can market the diagnostic globally. We would receive royalties on sales.
- The end user of our diagnostic products (marketed to by the licensee of our IP) would be pharmacies / GPs that carry out testing for stomach cancer risk / pre-eclampsia risk / SARS-CoV-2 antibodies, or in some cases (if regulatory approval can be received) individuals purchasing the diagnostic test on their own accord before consulting a GP/specialist about the results.
- For a Research-use-only test, the end customer would for example be a clinician specialist (gastroenterologist etc) that would use our stomach cancer risk test in their clinical research studies.
Since the deadline is very fast approaching, I’m also sending you two docs that explains the process, as well as the more detailed company information. Should you decide to go further, please let me know and I will send the remaining forms that are mentioned in the first document. Please note that the deadline for giving an investment decision is tomorrow (AWST).
Best regards,
Samuel
spectrum.ieee.org
