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COVID-19 Diagnostics Test

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Biotech Company has developed a low cost, high sensitivity & specificity Point of Care COVID-19 serology test designed to meet the ongoing need for high volume testing. Completion of test to go to market, proof of concept done, assay development almost complete, Funding set up based on milestones to mitigate risk for investor. We need funding to complete COVID-19 configuration and go to market.
Special Note: The COVID-19 Rapid Point of Care Diagnostics Test Project has been submitted to Private Business Network on 05-29-2020. At the time of your review, this project may be old, no longer available, has been funded, updated, or sold to a third party. If you have a genuine interest in this project, please chat or contact us, mentioning the Project Name, and your interest by clicking on your right bottom screen the blue dot envelope.
BUSINESS
Business Name
Available on VIP Account
Phone
Available on VIP Account
City / State
New Albany
Country
United States
Business Start Date
03/16/2017
Business Entity
S-Corporation
Business Stage
Seed Stage
Business Activity
Health & Hospitality
Company Website
Available on VIP Account
PERSONAL
First Name
Ray
Last Name
Available on VIP Account
Acting as
Entrepreneur
Email
Available on VIP Account
Mobile Phone
Available on VIP Account
Project Ownership
100%
PBN Membership*
Yes
e-News Subs*
Yes
PROJECT
Project Name
DAT-COVID-19 Rapid Point of Care Diagnostics Test
Request Category
Emerging Markets
Project Type
Medical Device Technology
Request Funding
Seed Funding
Request Amount
$3,500,000
Funding Purpose
Completion of test to go to market, proof of concept done, assay development almost complete, Funding set up based on milestones to mitigate risk for investor
Collateral Type
Stock
Collateral Value
$272.00 per share
Acceptable Terms
  • Funding will be set based on Milestones, funding will be used to complete assay development, field test strip, sample reader manufacturing, software development, validation, EUA, CLIA waiver and FDA application submission.
  • Packaging,marketing, scale up manufacturing to go to market and labor. With funding we are estimated to be complete in 12 weeks and ready to go to market in the fall.
  • The Point of Care market was a $28.5b market in 2019 with a CAGR of 10.4%. Our serviceable market is estimated at 185m tests at a minimum price of $50.00 per test annually.
  • Beyond COVID-19, there are a large number of infectious diseases and other therapeutic areas the DAT-X platform can be configured for in both humans and animals, so the lifespan of our technology is far beyond the immediate pandemic. In fact we are currently in talks with animal and agriculture diagnostics companies to configure DAT-X for Point of Care diagnostics in those industries.
PROJECT INFO
Short OverviewBiotech Company has developed a low cost, high sensitivity & specificity Point of Care COVID-19 serology test designed to meet the ongoing need for high volume testing. Completion of test to go to market, proof of concept done, assay development almost complete, Funding set up based on milestones to mitigate risk for investor. We need funding to complete COVID-19 configuration and go to market..
General Info: Here are some additional info:
  • Key Factors are there is a lack of low cost accurate testing world wide.
  • Benefits are that there is a high demand for this testing, DAT-COVID-19 is portable, easy to use, results in under 5 minutes and uses small technology. DAT-X can be configured to test for a large number of infectious disease in humans and animals, so the lifespan of our technology is far beyond the pandemic.
  • Potential annual gross revenue is $2.2b
  • Request is $3.5m to $4m granted in milestones based on project need.
  • List of documents available after NDA;
    DAT-X information
    Company Executive Summary
    Company Pitch Deck
    Company Valuation Report
  • Collateral offered - Shares in the company
ADDITIONAL INFO
What do you do?: I am the Co-founded Biotech Company with a BSc and leads a strong team as CEO and President. His responsibilities include overseeing scientific and technology development, defining Biotech's Company business strategy and securing financial and human resource necessary for its execution. Before Ray gained experience in the pharmaceutical industry with Bristol Myers Squibb, Schering-Plough and Merck as well as working in the compounding and wholesale drug industry.
Who are you?: I am a USAF Combat Veteran driven by success and passion. I have spent over 20 years in the pharmaceutical, drug wholesale, and bulk chemical industries. With my personal knowledge, years of experience and ability to build strong synergistic team Biotech Company is headed for success.
Project stage?: Approximately 12 weeks to completion
Your Customers?: In North America our Serviceable Market is 185m
Do you have A/R?: N/A
How do you do it?: We have a unique business model with a revenue generating DBA which has helped us self fund to date. We do it as a team because we are passionate and love reaching our goals and creating success together. We are focused on providing a low cost testing solution for people around the world to slow the spread of COVID-19 to reduce the mortality rate.
Make money?: We have a unique business model with a revenue generating DBA which has helped us self fund to date. Most of the revenue generated goes back into the company. It does not generate enough to drive DAT-COVID-19 to market. In 2019 it generated about $800,000 gross revenue. 2020 projections were $2.5m gross revenue, due to COVID it will be substantially less, estimating $1.5m at this point unless people start to feel more comfortable.
3 years forecast: DAT-COVID-19 to Market forecast:
-  2020 - $751,500,000
-  2021 - $1.8b
-  2022 - $2.5b

This forecast is gross revenue based on DAT-X going to market for COVID-19 and then configured for the other projects that have been requested for this platform as well as the gross revenue brought in by Sterile Lab Design (DBA)
How will pay back?: We will pay through stock buy back or pay back the amount plus an agreed upon % of total invested, provide additional shares if requested and agreed upon.

We can negotiate terms that are suitable for all involved. We believe in company and shareholders success. The Biotech Company team members are shareholders and have skin in the game to drive success.
Some of the transactions may be completed or outdated at the time of your access. MC International and Private Business Network take no responsibility and assume no liability for errors, misclassifications, misinterpretation or non-insertions contained on those submissions and interested parties should rely on their own valuation review. Furthermore, we make no claims, promises, or guarantees about the accuracy, completeness of such opportunities, provided documentation and expressly disclaims liability for errors and omissions in the contents of the documents or presented transaction. The information on this listing is not intended to be used as individual investment or tax advice, there are significant risks associated with investing in ventures, and the provided information is for general purposes only and is not a solicitation to buy or an offer to sell any securities. Participation on these Projects is suitable only for individuals, partnerships, corporations, limited liability companies, trusts or other entities with adequate financial means who are Accredited Investors and have no need for liquidity with respect to such investments.
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