| Executive Summary: | Parsortix is a particle separation company with an extremely wide range of potential applications across a large number of different markets. The initial application is for the non-invasive separation of fetal cells from maternal blood, replacing amniocentesis as the means of providig samples for diagnostic testing. The market for prenatal testing in the US alone is in excess of $1 billion per year and highly conservative revenue projections are in excess of $50 million per year within 3 years. The separation device has been manufactured under contract and used to collect clinical data demonstrating the successful capture of fetal cells from patients. The device is safer, less expensive and provides faster access to a sample than existing methods. Discussions are under way with several potential strategic partners for the fetal cell application. Other application areas are under investigation including infectious diseases, oncology and stem cell capture. Burn rate has been kept low by outsourcing design, manufacture and testing, but the company requires $4.5 million to reach its next milestone (submission for FDA approval). |
