We plan to lease our medical device to the patients.  Novocure, which is a direct comparable company to Evanesc, leases the device to the patient with monthly reimbursement by insurance companies or Medicare for $10,000 to $13,000.   So the revenue model is similar to a chemotherapy drug rather than a medical device company.  With about 3500 Glioblastoma patients, Novocure has an annual revenue of $500M.  

The direct comparable company to Evanesc Therapeutics is a publicly traded company by the name of Novocure with a market capitalization of $8B.  Novocure has an FDA approved medical device by the name of Optune for glioblastoma treatment that has improved five year survival of glioblastoma patients from 5% to 13%.  However, still more than 50% of glioblastoma patients die within two years.  In addition, about 50% of glioblastoma patients offered Optune decide not to use the device due to quality of life issues.  Our device works based on the same mechanism of action as Novocure's but we are able to couple RF energy more efficiently to the tumor.  This results in higher electric field in the tumor which is correlated with better treatment efficacy for the patients.   In addition, to use Optune the patient has to shave their head an attach electrodes directly to their scalp.  This causes heating of the skin and has caused skin rash and irritation in some of the patients.  Every three days the patient has to detach the electrodes from their scalp and shave his head and attach a new set of the electrodes.  We estimate that the cost of replacing the electrodes every month for Optune is about $2000.  With our device the applicators are  integrated in a hat or a cap that the patient wears and the patient does not have to shave their head.  The applicators are reusable with a monthly replacement cost of about $200.  So our device is expected to have higher treatment efficacy, provide patients with a better quality of life, and significantly lower monthly replacement cost for the electrodes/applicators.  

We plan to get FDA approval for our device for glioblastoma treatment followed by approval for treatment of lung cancer.  The patients require a prescription from an oncologist to get our device, so we have to educate the oncologists in advantages of our device.  We plan to use a combination of in-house sales team and distribution partners.  For other countries such as China and India, we plan to find partners to license our technology to.