Photo - CareTech Human
52732

CareTech Human

Fully automated solution for daily health checks!

Ukraine, Kyiv city
Market: Medicine
Stage of the project: Prototype or product is ready

Date of last change: 15.12.2021
Show contacts
3
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
 

Idea

СareTech Human product allows monitoring vital health indicators and detecting early signs of dangerous diseases via in-home urinalysis. It is non-invasive, affordable, easy to use and fully automated, thus does not require arising any new human habit.

The solution tracks multiple health indicators: disease-associated metabolism changes and urination flow patterns. Diseases cause metabolism changes that can be detected by analyzing single disease biomarkers excreted through urine or/and disease related patterns. The innovation capitalizes on the medical research of the last 25 years.

Current Status

The solution has passed the MVP stage. The riskiest product hypotheses were developed and tested, such as automated user detection functionality, automation, and optimization of sample collection timing, automated data extraction, and cloud transfer, including over-the-air update technology to update distributed devices with new disease detection algorithms. Our product can perform more than 5000 tests; this is equivalent to a 2-3 year maintenance-free product lifespan. The bill of materials is projected to be $45. Preclinical trials for type 2 diabetes demonstrated great results; both sensitivity and specificity are around 0.9. The product-market fit was verified with the International Diabetes Foundation, healthcare advisors, and potential customers. We’ve already received an integration request from the telemedicine platform.

Market

The innovation aims to break into the global internet of medical things market, which is $57 billion and growing 30% annually. Our focus is on the most prevalent diseases that have the potential for clinical improvement due to early detection and regular monitoring. We started by targeting diabetes mellitus, with over 463 million people diagnosed worldwide, 4.2 million deaths annually, 374 million people estimated to be at very high risk, and disease prevalence growing by more than 11% per year. Further, we will continue to improve the technology to target gastrointestinal diseases, urinary tract infections, kidney disease, and various types of cancer.

Problem or Opportunity

People are often diagnosed too late due to the failure of obtaining regular health checks. Mainly this is caused by the absence of affordable health screening solutions that can fully integrate into their lifestyle without human initiation or utilization habits.

Solution (product or service)

Our product facilitates monitoring vital health indicators by detecting the earliest signs of dangerous diseases via in-home urinalysis. The unique value proposition is non-invasive, constant, affordable, fully automated screening that does not require any behavioral changes for the user. The solution tracks multiple health indicators, including disease-associated biomarkers, metabolism changes, and urination flow patterns. Our innovation capitalizes on the medical achievements of the last 25 years as well as our research. More than 1000 biomarkers excreted via urine are proven to be related to specific diseases like diabetes, cancer, urinary tract infections, kidney disease, etc. In terms of the health economy, this reduces huge avoidable costs by increasing the early identification and prevention of these diseases

Competitors

https://www.owlstonemedical.com/
https://www.fossiliontech.com/
https://2020.h2clab.com/
https://www.scanwellhealth.com/
https://assayme.cc/
https://healthy.io/

Advantages or differentiators

There are screening laboratory tests, home diagnostic devices and test stripes. Test strips and glucometers are dominating the in-home market segment. Toilet integrated products are in various R&D phases. Our competitive advantages are full automation and continuous monitoring, as well as low price.
Screening laboratory tests are a gold-standard methods and currently dominates the market. Require skilled operators, scheduling, infrastructure, human initiation, and are often intrusive and expensive. Even if tests are taken with exceptional regularity, it is challenging to consider historical data and gain insights due to interoperability issues.
Laboratory screening brands like Alere, ARKRAY, Bio-Rad, Mindray, Roche Diagnostics, and Siemens dominate this market. Samples analyzed in a lab provide accurate results; however, they have a wide list of disadvantages from the preventive care perspective. The biggest is the high prices and the need to visit a hospital.
Inside the laboratory screening segment, there are innovative
Solutions such as Owlstone Medical, Fossilion Tech, Syft.

https://www.owlstonemedical.com/
https://www.fossiliontech.com/
https://2020.h2clab.com/
Some of them are also based on the principle of detecting VOC biomarkers. From the technology perspective, to detect similar biomarkers as we do, they are typically using different variations of mass spectrometry (MS) analysis. MS-based methods can very accurately detect and identify VOCs; however, the measurements are time-consuming, expensive, and depend on a skilled operator, and also performed only in clinical settings. Even though some of these companies declare the potential of applying their solutions as home point-of-care, they are still mainly focused on increasing laboratory performance.
The main competitors in the home point-of-care segment are screening solutions based on biological sensors.
https://www.scanwellhealth.com/
https://assayme.cc/
https://healthy.io/
These devices are partially automated but still require human initiation, which is a serious threat to the regularity of screening. Many of them need maintenance and cartridge replacement.
Test stripes are gold solution for in home monitoring. However, they are manual and have huge challenges with data interpretation and aggregation.
Products designed to analyze urine using other sensing technologies are at different stages of R&D and are not commercially available yet. For instance, Japanese manufacturers of toilets, Toto and Matsushita, are widely known for taking several significant steps towards creating WiFi-connected toilets. However, these are also currently under development.

Business model

The main business model is device-as-a-service (DaaS) with a sales distribution approach.
There are no hardware-related payments. Revenue will be based on service payments for 2-3 years and digital add-ons (for inst. a new disease detecting firmware).

Money will be spent on

USE OF FUNDS
59% Product Development & IP
15% Marketing/Sales
12% Operations/Legal
14% Clinical trials, pilot runs and regulatory

MAIN KPIs
Develop market-ready product
Conduct clinical trials
Initiate regulatory approval
Validate sales & marketing approaches, scalability, and generate income
Get prepared for bulk production and scale-up

Offer for investor

We offer convertable loan/SAFE agreement. CAP and interest rate TBD.

Team or Management

Incubation/Acceleration programs accomplishment

USF - preSeed and Seed grants.
Polish-Ukrainian Startup Bridge - acceleration and 2nd Prize
eO Inkubator.

Won the competition and other awards

USF - preSeed and Seed grants.
Polish-Ukrainian Startup Bridge - acceleration and 2nd Prize.
CRDR grant.
SHAPES grant.
Roddenberry Foundation grant.
Lviv IT Arena - 3rd place grant.

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility1291
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video