Spark xyz

One Liner: MIMOSA is making skin injury detection the 6th vital.

Problem: Skin injuries are assessed every day using the naked eye - This is the current standard of care. Experienced specialists cannot detect injury at early time points - Injuries cannot be detected until the tissue has deteriorated to the point the skin breaks or just before, at which point they are forced to play catch-up. It costs Billions to treat these injuries and millions in litigation. MIMOSA looks below the surface of the skin to see injuries before they occur, catching injuries at earlier, with a cost saving solution. The portability brings a potent tool to the bedside and enables use across multiple healthcare settings.

About Us: MIMOSA is a medical technology company driven to enhance the standard of care and deliver that care to more people no matter who they are or where they live.
MIMOSA Pro is a class II medical device (FDA cleared) used to measure tissue oximetry and temperature which are key indications of skin injury. The images are captured quickly and uploaded to a web portal for remote viewing providing the means for extending the reach of expertise and the means to facilitate communication between clinicians. The product is sold on a monthly subscription. The product includes the means for extracting additional physiological indications of tissue health which can be unlocked with additional clearances through the software for customers. The portable medical device space is the largest growing sector in medtech currently with anticipated growth to a TAM of $85Billion USD. Our go to market is US based, direct sales force in target regions/MACs based on reimbursement data. We also are lining up channel and strategic partners to further our growth in the US.

Business Model: SaaS with a hardware piece (HaaS)

$600/month/device
Image capture, processing, review through the MIMOSA App (user interface for the operation of the imager) and through the fully HIPAA compliant web portal.

Quote: 1. Portable and handheld bringing technology to the bedside/patient. MIMOSA can be easily placed on the WOW that nurses use, in your pocket or with the vitals technology. This enables us to be used in hospitals, outpatient care, home health, pharmacies and most health settings.
2. Webportal enables asynchronous telemedicine. Our Images are uploaded to a web portal for remote viewing enabling the HCP to view the images and decide if the patient needs to be physically seen or if the treatment is appropriate. This creates efficiency for the doctor, nurse and patient by saving travel time & enabling the right treatment at the point of care.
3. Melanin algorithms- People of colour have traditionally not been able to benefit from optical imaging as the light is absorbed by melanin in the skin. Our algorithms are best in class and are able to account for melanin. This means all patients can be imaged & opens up market opportunities in emerging markets.
4. Data capture is standardized. We are collecting the first skin imaging database that uses standard image capture which means the same images is captured at each visit. The large sample size of images associated with the patient outcomes is the first of its kind globally and solves one of healthcare's biggest hurdles in this space. Although AI is a popular term for most companies with Investors, we prefer the term Big Data. Data that is standardized, associated with outcomes, has accounted for melanin can be used to create the first skin injury prediction imaging platform. Our data is already interesting to larger academic and non-academic groups because of these unique features.

Revenue To Date

N/A

MRR

N/A

Revenue YTD

N/A

Burn Rate

$120K

Business Strategy: Our GTM strategy is multi-faceted.
The novelty of our solution necessitates the use of a direct sales force. This is allowing us to monitor and improve our customer experience from day one. In addition to this our research and experience has told us that healthcare practitioners in the specialties we're pursuing place significant value on relationships. For our initial efforts this characteristic also supports the direct sales force.

Within key, target medical specialties the value proposition varies depending on the type of organization. Smaller organizations or small clinical networks are heavily reliant on reimbursement. Therefore, evaluation of new technologies are weighted heavily on the existence of paying reimbursement codes. CPT codes do exist for our solution in wounds. Customers are providing us data on reimbursement across multiple jurisdictions (MACS) which allows us to target and tailor our sales pitch to acquire the next customer. Because these organizations are smaller, we have more immediate access to decision makers which shortens the sales cycle.

Long-term we want MIMOSA to be integrated into the day-to-day of every hospital. Larger hospital or hospital networks are less concerned with reimbursement but motivated by larger-scale health economic benefits. These groups can represent much larger opportunities but the sales cycle is extensive, requires patience and much more due diligence. These opportunities are a slow burn and are currently ongoing with some key organizations across the US. Fortunately and strategically, there exists hospital groups who share procurement pathways - Key opportunity. Once a procurement pathway has been established and MIMOSA has been added to the supplier list for a single hospital in a network like TORCH (Texas), that supplier list is universally shared across the network, and the procurement process becomes exponentially quicker for every other partner institution.

Competitive Analysys: 1. Portable and handheld. Kent is small but still heavy and hard to use by women in the field. Since over 80% of the users are women and have small hands this is not practical for workflow. Modulim and Spy are large pieces of technology that are not portable.
2. Melanin & skin pigmentation. The other technologies claim to be able to image people of colour but our algorithms outperform the competitors. Spy can image people of colour but it requires an injection of dye.
3. No dye is required. Mimosa provides the same image as the Spy Camera but without the dye. Kent and Modulim also do not require dye.
4. Expanded applications. Mimosa has more wavelengths of light ( LED wavelengths) which means there are other things we can do with the imaging platform. Once we unlock this at the FDA we can assess more features of skin injury than our competitors. The advantage to the customer, we can just unlock the software for an additional fee but no changes need to be made to the hardware.
5. Not a traditional device. MIMOSA can be "remote controlled" which means it does not need to be sent back to fix it or help the customer unlike all the other competitors which would need to ship the device back or have a repair technician visit the site. Most of our diagnostics and support is software based, updates are performed overnight as they would with a cell phone operating system update.

Similar technologies in the space are reactive in nature, used primarily in wound care to assess or measure a wound. MIMOSA can be used in those applications as well but the power of the technology is the ability to more effectively assess patients early in their journey towards a wound or vascular degradation to build a more complete risk profile to support a more proactive approach to healthcare.
From another angle many of those same reactive technologies have range limitations. Though many are more portable they are difficult to use outside of a formal clinical setting limiting the benefits they unlock to those patients who physically come to the clinic or hospital.

Competitor	Website
Stryker Spy Elite	www.stryker.com
Modulim	modulim.com
Kent Imaging	www.kentimaging.com

Networking: We are open to meeting up to grab a coffee, or just to chat. We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!

Name	Amount
Amount Left	$1,000,000.00
Amount Raised (This Round)	$2,000,000.00
Amount Raise To Date	$6.1M
Investment Type	N/A
Type of Raise	Convertible Note

MIMOSA Diagnostics Inc

One Liner

What Problem We are Solving

About Us

Business Model

Competitive Advantage

Revenue

Go-To Market Strategy

Team

Competitive Analysis

Networking

Share

Capital

TAM SAM SOM

Business Stage

Business Type

Categories