SensoDetect presents new strategy and Launches new product in 2018
The new board and the team of SensoDetect have the last 4 months worked in a focused manner to detail the long-term strategy of the company as well as securing the funds and resources to realize the same. Thanks to this work and the strong evidence presented in the research from Uppsala University Hospital, "Auditory brainstem response (ABR) profiling tests as diagnostic support for schizophrenia and adult attention-deficit hyperactivity disorder (ADHD)", on our technology, we are now in a state where we can share our Vision, Mission, Strategy and Targets with shareholders and potential new investors.
Big Market Potential
Mental illness is major problem to societies all over the globe. At any given time, more than 450 million people are suffering from a diagnosed mental condition*. The impact on their lives and their kin is profound including premature mortality, unemployment and social stigma to only mention a few. Caring for these patients is costly as the process to set the diagnose and define a long-term care regime is long and sometimes complex. To be added to this is also the cost of hospitalisation. Further, even larger than the cost of caring for these patients is the cost to society of unemployment, sick leave and early retirement. As an example, the cost of caring for the mental ill in the EU is 3-4 % of the GNP**. In the US the same number is 148 BUSD***.
Our technology and solutions to these challenges provides a considerable opportunity.
Develop Solutions Improving the lives of people with mental illness
Making ABR profiling tests with SensoDetect technology an integral part of setting diagnosis for mental illness
Our Value Proposition:
SensoDetect’s technology is based on a complete audiogram of the brainstem, helping health care professional to set psychiatric diagnoses objectively and cost effectively. This unique offering improves patients’ quality of life and reduces the economic impact on the health care system and society.
We have chosen to illustrate the strategy by looking at 7 main areas.
- For the coming three years SensoDetect will be focused on launching a diagnostic aid for mental illness of: ADHD, Schizophrenia and Autism
- At launch we will be focusing on ADHD only
- We definitely see other areas of big potential, but we need to launch this segment successfully first before moving into other areas
Offering: Diagnostic aid for mental illness
The core of the strategy is the launch of BERA 3.0.
Positioning: A tool helping health care professionals set diagnosis objectively, cost efficient and in a timely manner
- Provide appropriate care for the patient as fast as possible
- Decrease the cost of mental illness in the health care system
- Decrease the cost of mental illness for society
- Improved usability
- Decreased manufacturing cost
- BERA 3.0 will be launched end of spring 2018
Marketing strategy and communication will be based on market research that we are currently performing.
Strong emphasis will be placed on marketing as we are launching a new practise.
The value proposition is built on medical and economical evidence.
We will work with key opinion leaders in each market to speed up the launch process.
Communication and information
To improve the communication to the market and potential customers we are launching a new updated web site.
We will also increase the frequency of communication around the execution of the strategy through this and other channels.
Evidence and IP
We have very strong evidence for our technology presented in the study from Uppsala University. A clinical evidence plan will ensure we continuously generate more evidence on the value of the offering.
Our technology is protected in all major markets (EU, US, LATAM, China & Japan), securing the introduction and exclusivity of our offering in all major markets.
Target markets and Distribution
We will launch globally, but in steps.
First main markets to launch in 2018 will be Germany and UK.
We will work through distributors and we are currently in contact with a couple to set our distribution channel.
Manufacturing of our equipment will be made by external partners.
Market size and targets
The basis for our targets are the number of patients that are investigated every year for ADHD, Schizophrenia and Autism. We estimate this number of investigations per year globally, to be approx. 3,5 million****. (This number is based on the global incidence rate*****).
- Penetration: 10 % of investigations are made by using BERA 3.0
- Sales: 20-22 mEuro
- EBIT: >45 %
- Penetration: 20 % of investigations are made by using BERA 3.0
- Sales: 50 > mEuro
- EBIT: >50 %
"I’m really pleased that we have now reached the point of communicating the strategy and setting off on this journey. Naturally it is exciting for us to execute on our plan to capture the opportunity and build a valuable company. But more importantly, thanks to this plan and strong evidence that we have for our technology, we can work in a dedicated manner to improve the lives for patients with mental illness.", Johan Olson, CEO
**The 2000 International Labour Organization (ILO) report, "Mental Health in the Workplace”
*** US National Advisory Mental Health Council 1990
****US, EU, China, LATAM, India & ECEMA
*****Incidence rate means the number of patients that are diagnosed a certain illness during one year. The incidence rate for Autism, ADHD and Schizophrenia is 0,08% of the total population.
VD, SensoDetect Aktiebolag (publ)
Phone: +46 705 424600
Chairman of the board, SensoDetect Aktiebolag (publ)
Phone: +46 793 472280
This information is information that SensoDetect AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on September 25 2017.
SensoDetect highlights through patented equipment brain stem responses to audio stimuli in order to provide health care clear anomalies and patterns for use primarily within psychiatry. The goal is to increase efficiency in Psychiatry and thus the benefits for health care, society, patients and relatives.