Editor’s note: WRAL TechWire and the Council for Entrepreneurial development are partnering to present a series of profiles and Q&As featuring companies startups and emerging companies participating in the CED’s annual Life Science conference coming up Feb. 28-March 1 in Raleigh. The latest profile is medical device startup UVision 360 in Raleigh.

UVision 360

  • ​Website: http://www.Uvision360.com                                                                      
  • CEO Allison London Brown
  • Contact information: allisonlondonbrown@uvision360.com
  • Sub-sector: Medical Device                                                                            
  • Headquarters: Raleigh, NC
  • Year Founded: 2016

COMPANY PROFILE

UVision360 Inc.is a women’s health medical device start-up focused on the simplification of hysteroscopic systems especially for the office setting. The system includes a re-usable slim-line hysteroscope and our unique disposable 360° cannula, with planned market introduction of its system in 2H 2017. UVision360 offers an all-in-one office system with a patented rotatable cannula providing a 360°, 30mm depth of view, high-definition optics, integrated fluid management and an operating channel.

This allows GYNs to perform global hysteroscopic procedures with superior visualization due to our high-definition optics and integrated flow system. The operative channel enables therapeutic procedures that can be done in the office. The system viewer utilizes off-the-shelf monitors or TVs via HDMI.

FOUNDERS/MANAGEMENT TEAM

  • Allison London Brown, CEO
  • Erich Dreyer, CTO
  • David Robinson MD, CMO

KEY MILESTONES TO DATE

  • Raise $2MM Series A, currently have $1.6MM raised
  • Awarded NC Biotech loan ($250 SBL)
  • Closed escrow, November 2016

POWERED BY

CED, First Flight Venture Center, NC Biotechnology Center, Women in Bio

Q&A

  • What is the primary pain point you are seeking to address?

Hysteroscopy is primarily performed under anesthetic in a hospital setting. This creates increased costs of the procedure, lengthens time to diagnosis and time out of the office for both patient and physician. Additionally Hysteroscopy systems cost upwards of $30-45k depending on the product, maintenance contract and software licensing. Patients may incur $3000-4000 out of pocket costs depending on their insurance deductibles.

We are developing an all-in-one hysteroscopy system that aims to be comparable to tower systems but for under $6000. The system along with being less expensive is also a slim line scope (under 6mm) reducing the need for anesthesia and thus allowing for broader access to the physician in their office.

The product includes a reusable scope with a disposable introducer that includes the fluid management and working channel, plus allows for a 360 degree view of the uterine canal with limited movement of the scope itself. Reimbursement is very favorable for the office setting and patient co-pays will be lessened, along with decreasing diagnosis time and time to recovery.

  • What sets your company apart? What’s the “secret sauce”?

Our biggest advantage is our team. We have a team of seasoned veterans in Medical Device design, development, and commercialization. This allows us to identify, plan and reduce risks earlier than less experience groups.  We are also keenly focused on execution of our goals and strive to simply our program, the product and launch.

Our team has collective launched over 150 products and services, growing revenues >100% within 6 months and turned around failing brands thru product innovation, clinical claims development and commercial ingenuity.

  • Why should investors be interested in your company? What is the potential market size?

Our company is focused on one product and one market, office-based hysteroscopy, but with an expandable technology platform for strategic partners. There are 6-8MM hysteroscopies performed in the US annually, and with our business model of capital + disposable revenues, we can reach reasonable revenue targets with minimal market penetration. We plan to only raise $2MM in a Series A, achieve 510(k) approval, create a revenue stream all in 2017 and exit to a strategic.