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SFC Fluidics is a medical device company whose drug delivery platform can dramatically improve therapy compliance in diabetes and several other important disease markets. With $27m in prior funding, including recent grants from the National Institutes of Health and JDRF (formerly known as the Juvenile Diabetes Research Foundation), SFC has created a disruptive drug delivery platform with initial target application for insulin delivery to diabetics. SFC seeks additional funding to accelerate product launch into the diabetes market within twenty months, with substantial valuation increasing milestones and exit opportunities looming.
The Problem: Diabetes is a worsening with global costs of $760 billion each year or about 10% of global healthcare dollars. This high cost of diabetes is due in large part to medication non-adherence. More than 70% of patients with diabetes routinely skip or improperly use their prescribed medication.
The Solution: SFC is applying its patented drug delivery technologies to the insulin therapy adherence problem. With a notably better performing and lower cost drug pump platform, SFC is well-positioned to become a leader in the insulin delivery market. SFC can offer convenience, discretion and precision; therefore, allowing patients to lead active lifestyles without the burden of interference from their diabetes devices. This comes at an opportune time as the FDA is easing the regulatory pathway to attract newer technologies into this market and wearables (e.g. Apple watch) are expanding to assist with healthcare challenges.
Market Opportunity: SFC is poised to disrupt the $9b insulin delivery industry with a substantially advanced, disposable insulin dosing pump. Although insulin pumps provide markedly better clinical outcomes, they are used by less than 5% of diabetes patients due to the fact current pumps are unwieldy, difficult to use, and expensive. SFC’s patch pump is easier to use, not prone to errors and shortfalls found in existing products, facilitates user compliance, and results in better disease management. SFC has clear line of sight to US FDA 510(k) approval. Upon completion of software development needed for the user interface, SFC expects to file for FDA approval in late 2021.
As this first product is introduced, SFC will continue its product development to carve out a leading position in the market for a closed loop system also known as an Artificial Pancreas. The Artificial Pancreas will integrate the pump with a glucose sensor and software, further reducing the manual steps necessary for diabetes management. SFC’s technology can also be applied to a range of non-insulin drugs (chemotherapy and pain management) which are as large as the insulin dosing space.