Planning for Phase III: Networking NIH SBIR Conference 2017

Transcription

1 Planning for Phase III: Networking NIH SBIR Conference 2017 JoAnne Robbins, PhD, CCC SLP, BCS S Professor Emerita UW School of Medicine and Public Health Founder, Inventor, Chief Scientific Officer Swallow Solutions Eric Horler, MBA, MEM President and CEO Swallow Solutions 1 Agenda Clinical need and product development (JoAnne) From necessity to niche to networking Context: Dysphagia and the market Case Study: Development of dysphagia diagnostic standards From diagnostics to treatments What have I learned? Commercialization (Eric) Networking considerations Commercialization considerations Collecting Voice of Customer Understanding your market (segmentation, buying process, competition) Commercialization: What have I learned? Networking: What have I learned? 1

2 Necessity is the mother of invention. Ascribed to Plato from translations of Republic, 380 BC 3 Frank Zappa/Mothers of Invention, 1960s 4 2

3 Necessity Leads to New Commercial Niches "The world is facing a situation without precedent: We soon will have more older people than children and more people at extreme old age than ever before. Population aging is a powerful and transforming demographic force. We are only just beginning to comprehend its impacts at the national and global levels." Richard Suzman, PhD Director, Division of Behavioral and Social Research National Institute on Aging/National Institutes of Health John Beard, MBBS, PhD Director, Department of Ageing and Life Course World Health Organization Young Children and Older People as a Percentage of Global Population: Age <5 Age 65+ Source: United Nations. World Population Prospects: The 2010 Revision. Available at: 5 Healthy Swallow 6 3

4 Swallowing and Aspiration Thin liquid Thickened liquid 7 Causes and Effects of Dysphagia Poor bolus control caused by: Stroke Head/neck cancer ALS Parkinson s Sarcopenia Aspiration (food/liquid directed to pulmonary rather than digestive system) Without effective treatment, dysphagia leads to: Pneumonia Malnutrition/ dehydration rehab potential hospital stays Hospitalization (mean cost of aspiration pneumonia episode is $17,000) 8 4

5 Networking Facilitated naturally by academic expertise/entrepreneurship People essential to the creative effort Proof of Concept Group Occurs naturally in academic activities and professional associations Cross boundaries: schools, departments, faculty Expertise, knowledge of market niche Collaborators hindsight foresight Unique or specialized access, skills, instrumentation 9 Networking Team Food scientist Nutritional specialist Gerontologist Clinicians (MD, SLP, PT, OT) Radiologist (imaging) Chemist Engineers Business leaders 10 5

6 Case Study Development of the Diagnostic Standards 1. Identified a clinical unmet need 2. Standardized diagnostic imaging materials for swallowing 3. Executed Protocol 201 (largest NIHfunded clinical trial in dysphagia) 4. Filed patent application (through UW Madison) 5. Identified the two major barium manufacturers in the US 6. Negotiated agreement to collaborate on product development and commercialization Non standardized, off the shelf Diagnostic standards for dysphagia 11 A Related And Necessary Continuum From chaos to order The MATCH Diagnostics to the treatment(s) 12 6

7 What have I learned? To go from a vision and emerging need to an idea that fills a unique niche and is practical: 1. Be expert in your area 2. Review the marketplace 3. Early networking 4. Initiative and persistence 5. Seek mentorship 6. Partnership 7. Communicate! Communicate! 13 Agenda Clinical need and product development (JoAnne) From necessity to niche to networking Context: Dysphagia and the market Case Study: Development of dysphagia diagnostic standards From diagnostics to treatments What have I learned? Commercialization (Eric) Networking considerations Commercialization considerations Collecting Voice of Customer Understanding your market (segmentation, buying process, competition) Commercialization: What have I learned? Networking: What have I learned? 7

8 Networking Considerations Peer Groups Monthly CEO breakfasts Coffee chats (introductions and updates) Advisory Boards Other My Networking Venues Shared Interests Charity leadership Hobby groups (running) Coworkers from past jobs Prof Events Conferences think broadly Training Local groups and events (Chamber of Commerce, etc.) 15 Commercialization Considerations Market Intelligence Competition Customer Segmentation Value Proposition Go to Market Marketing Strategy Sales Channels Distribution Supply Chain Manufacturing Needs Org Structure Hire vs. Buy vs. Partner Buying Process IP Protection Revenue Streams Financials Cost Structure How do you get started? When should you start? TALK TO POTENTIAL CUSTOMERS PHASE I (or sooner ) 16 8

9 Collecting Voice of Customer (Example) PHASE I PHASE II PHASE III Qualitative Interviews Jan Feb 2015 Clinicians, Buyers, Channel n=20 Quantitative Value Prop Surveys Mar 2015 Clinicians, Buyers n=49 Qualitative Interviews Q Present Industry Experts n=20 30 (ongoing) Formal Prototype (Sensory) Studies Apr, Jul 2017 Potential buyers, users n=144 Quantitative Positioning Study Q Clinicians, Buyers n=tbd Test Market Evaluation Q Q Clinicians, Buyers, Users n=tbd Informal Prototype (Sensory) Studies Apr 2015 Clinicians, Buyers n=73 Formal Market Research Aug 2017 Industry experts 17 NIH Phase III Resources NIH Technical Assistance Programs Transition to Phase III NIH SBIR/STTR Niche Assessment Program (NAP) I Corps at NIH NIH SBIR/STTR Commercialization Accelerator Program (CAP) 18 9

10 Customer Segmentation Examples of segmentation variables Clinical indication(s) User/patient demographics Chooser/prescriber differences Demographics, psychographics, locations, preferences, etc. Reimbursement systems Payer dynamics Site of care Barriers to communication/promotion Anything else that could impact purchase decision Customer Segmentation (Example) Demographics (Age) Dysphagia (US) 15M Location Adults Children 2% 6% 91% 1% AL/IL SNF Home Hospital Reimbursement 51% 49% x% x% x% Part A Part B Out Patient Home Health Undiagnosed Eligible Eligible Eligible Eligible Eligible Contraindicated Contraindicated Contraindicated Contraindicated Contraindicated 20 10

11 Learnings from Voice of Customer (Example) Dietitian Patient Compliance, Complaints SLP Customer Segments Long Term Care Hospital Home 1 2 Value Propositions Nutrition and skin integrity (health) Alternative to thickened milk (health, user satisfaction) Dietary Manager Define list Audits Corp Purch Key 3 4 Sensory better than competition (health, user satisfaction, adherence) Reliability (safety, reg. compliance, ease of use, lower total cost of usage) Size of circle represents relative influence on purchase decision State Reg. Purchaser Influencer 5 Rheology matches Varibar (safety) User 21 Competitive Landscape Compare your product to the competition (think broadly!) Consider your value proposition in defining the parameters of comparison Your Product Competitor A Competitor B Parameter 1 Competitor C Parameter Parameter 3 High Low Med Med Parameter 4 Parameter 5 Identify the benchmark competitor(s) Consider different kinds of metrics 22 11

12 Competitive Landscape (Example) Compare your product to the competition (think broadly!) Nutrition Consider your value proposition in defining the parameters of comparison Market leader (sales volume) Market leader (quality) Identify the benchmark competitor(s) Consider different kinds of metrics 23 Networking Example (VoC) Investor Product Dev Co. Sensory Test Firm Market Researcher Accountant Consumer Group Industry Expert Lawyer Investor Industry Expert Industry Expert Company Contact Service Provider 24 12

13 Commercialization Considerations Market Intelligence Competition Customer Segmentation Value Proposition Go to Market Marketing Strategy Sales Channels Distribution Supply Chain Manufacturing Needs Org Structure Hire vs. Buy vs. Partner Buying Process IP Protection Revenue Streams Financials Cost Structure How do you get started? When should you start? TALK TO POTENTIAL CUSTOMERS PHASE I (or sooner ) 25 Commercialization: What have I learned? Common threads from commercializing multiple, very different products: 1. Start by thoroughly defining customer needs/wants 2. Do not assume you know what customers want find out! 3. Listen actively 4. Understand the buying process 5. Be willing to pivot 6. Understand the financials early 7. It is not easy, but it can be done! 8. THE RIGHT PEOPLE ARE CRITICAL Recommended reads 26 13

14 Networking: What have I learned? Common threads from commercializing multiple, very different products: 1. Mindset How can I help this person? or What do we have in common NOT, How can this person help me? 2. Leverage your resources as much as you can 3. Make networking a priority budget time and make it happen 4. Don t wait until you need support by then, it is too late 5. Almost anyone will have a cup of coffee with you 27 Planning for Phase III: Networking NIH SBIR Conference 2017 JoAnne Robbins, PhD, CCC SLP, BCS S Professor Emerita UW School of Medicine and Public Health Founder, Inventor, Chief Scientific Officer Swallow Solutions Eric Horler, MBA, MEM President and CEO Swallow Solutions ehorler@swallowsolutions.com 28 14