Ata Plus - LaDIY

LaDIY

LaDIY Healthcare Sdn Bhd (LaDIY) is an innovative medical device company that designs and develops novel diagnostic solutions and services, focusing on cancer diagnostics. LaDIY will enhance its value proposition to patients and stakeholders through further R&D of its current product technology platform to include a web based and mobile application. The company has plans to enter the diagnostic laboratory market to complement and enhance its product offering.

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Introduction

LaDIY aims to be a recognised global leader in delivering quality and comprehensive healthcare and medical solutions, to significantly improve the quality of life. We achieve our vision by providing innovative healthcare and medical solutions through the research and development of high quality, cost-effective products and services;

Detection of cervical cancer forms the focus of our initial product offering - Cervisafe. Our product addresses the aspects of privacy and convenience issues for women to get these tests done on a regular basis, which accounts for late detection or inadequate detection frequency.

Cervisafe

What We Do

The Challenge

Women at risk for cervical cancer

Women in Malaysia at risk for cervical cancer (Female population aged >=15 years)

 

Key Statistics

  1. Cervical cancer is the 4th most frequent cancer in women with an estimated 570,000 new cases in 2018 representing 6.6% of all female cancers (according to the World Health Organization);
  2. Early detection, screening and vaccination can reduce the risk of getting the cancer by 70%.;
  3. The current methods of detection are the Papanicolaou (Pap) tests and the more specific Human Papillomavirus (HPV) tests that are conducted in clinics and hospitals. (There are aspects of privacy and convenience issues for women to get these tests done on a regular basis, which accounts for late detection or inadequate detection frequency).
  4. Current brands in the market, though only able to conduct either the Pap or HPV tests, whereas our product, the Cervisafe is aimed at conducting both tests in one kit. In addition currently, tests have to be conducted via appointments with clinics or hospitals.

 

Barriers towards Pap Smears

  • Lack of information

  • Think it is not important

  • Embarrassment and fear

  • Availability of female doctors

  • Don’t have time

  • Painful

(Source: Al Naggar, 2012. Barriers towards Pap smear test from a public hospital in Malaysia)

 

Our Solution

Cervisafe is a 'Do-it-Yourself' Kit that caters for 'Privacy and Convenience - use at home', to test for both Pap and HPV.
The device extracts cell samples for both Pap and HPV tests at the convenience and privacy of user's home. In future, the test kit will be able to provide initial prognosis of conditions that can be followed up with a more detailed analysis at clinics or hospitals. 

Advantages:

  • The product allows users to easily undertake her own cervical cell collection in the privacy of her home  at their own time;
  • Users can perform the procedure in less than ten minutes
  • Kits will be readily available in pharmacies, clinic, hospitals, diagnostic centres and on-line platform;
  • Product covers both Pap and HPV tests.
 


Why Are We Different

Cervisafe

The unique design of the flower probe and material used allows sufficient cell sampling, to conduct both the Pap tests and the HPV tests (as compared to most products in the market) resulting in higher accuracy in diagnosis (>90%).

The patented tubular design and flower probe material allows for a smooth, non-traumatic entry thereby making the cell collection simple, comfortable, and easy to perform.


Our Revenue Model

Sale of Cervisafe Kits including laboratory analysis results  

To direct on-line customers and via distribution channels such as pharmacies and outpatient clinics at RM300 per unit


Our Market Opportunity

The worldwide In-Vitro Diagnostics (IVD) Market is estimated @ RM 310 billion in 2016 & is forecasted to reach RM 402.3 billion by 2021, growing at a CAGR of 5.35% . 

IVD plays a major role in the early diagnosis and management of diseases. The point of care testing segment is growing at a good pace in the IVD market. The US and Europe currently dominate the market owing to their increasing healthcare expenditure and improved clinical laboratory infrastructure. The United States market accounts for RM 104 billion market revenue, contributing to around 35% of the worldwide IVD market. here could be a rise in the IVD market share from the emerging economies as well, as diagnostic companies are focusing on capitalising on the untapped markets in the medical sector.

Our potential achievable market is estimated at RM 118 million, primarily targeting the ASEAN countries (with the following potential breakdown):

Country

Women (age>30)
Eligible for Cx Cancer Screening

Target Market @1% Projected Sales (RM)
Malaysia 10 Million 100,000 20 Million*
Vietnam 35 Million 350,000 17.5 Million**
Indonesia 100 Million 1,000,000 50 Million
Philippines 40 Million 400,000 20 Million
Thailand 20 Million 200,000 10 Million
Total 205 Million 2,050,000 tests/year RM117.5 Million/year

*In Malaysia, price for Cervisafe Kit + Lab starts from RM200

**Outside of Malaysia, price for Cervisafe Kit only is RM50
 

Our Traction

LaDIY Traction

 

 

Supported by Ministry of Science and Technology, we carried out CSR Cervical Awareness Programmes across Malaysia from 2016 to 2018. 1,000 Cervisafe units deployed & 700 patients screened.


Our Strategy

Marketing

  • In the short term, we will undertake a Market Penetration Exercise and Market Development Exercise. We plan to intensify our marketing efforts in Malaysia and develop the regional markets (with focus in Indonesia). 
  • We will leverage on our marketing network and technology know-how, to develop our market through strategic partnership, maximising market penetration and product acceptance.
  • In addition, resources will be deployed in promotional campaigns, especially in its marketing communications mix plan.
  • Marketing mix communications strategy will include both the online media and the more traditional offline media campaigns. The overall intent is to create and reinforce awareness of LaDIY's brand name as well as the products Cervisafe™, Cervisafe II and AZYCare™; with a single global message to consistently drive the value proposition of these brands.

Regional Expansion

  • The immediate plan is to execute the commercialisation of Cervisafe™ with Malaysia as our primary target market (with an anticipated 25,000 units of Cervisafe™ being sold in Year 1).
  • Year 2 - Indonesia
  • Year 2 & 3 - ASEAN
  • Long term - China, Africa, US

Product Development

Development of AZYCare™

  • A customised digital app to accompany our Cervisafe™ do-it-yourself (DIY) test
  • AZYCare™ allows consumers (Cervisafe™ users), laboratory service providers (and suppliers) to seamlessly perform sample tracking, payment transaction, diagnosis (test results) and physician consultation over a secured encrypted platform. 
  • AZYCare™ is developed with patient and healthcare provider convenience into consideration. It is designed to enhance the utility of home self-test kits, and to vastly increase accessibility to cervical cancer screening. Using a simple user friendly digital application, AZYCare™ creates a self-contained management tool for home self-testing use.

Development of Cervisafe II

  • Development of Cervisafe II to help improve cervical cancer screening (especially in developing countries), for onsite cervical cancer screening and treatment. 
  • It is a single-use, user-friendly technology utilising key protein biomarkers that are sensitive and specific to cervical precancerous lesions. This innovation is advantageous in that it can detect at picogram levels, is colorimetry-based, easy to use (no need for highly trained personnel), rapid, highly sensitive, quantitative, highly affordable, and can be used independently or integrated into existing platforms, making this beneficial for use in developing countries for the screening of cervical cancer.

Product Diversification

  • The company is also planning to establish its own diagnostic laboratory services with the aim to position itself as a one-stop medical diagnostic solution provider. 

Our Achievements

 


Usage of Funds

The breakdown for the RM 3 million fund utilisation will be as follows:

LaDIY Use of Funds

 


The Team

Romli Ishak

Chief Executive Officer

20 years experience as an entrepreneur and 10 years in the medical device industry. Holds a Degree in Psychology with Honours from IIUM, Advance Cert in Entrepreneurship from UITM, Dip. In Science UPM, CPIPM from MIM and Advance Certificate from QB3 UCSF, USA. Co-founded Granulab, a biologic solutions company, in 2008 and successfully exited in 2014 (to Kulim Berhad).

Onn B. Abu Bakar

Chief Operating Officer

30 years of experience in the engineering industry and 5 years of experience in the medical device industry. Graduated with a Dipl. in Civil Engineering from QTA Technical College, Japan in 1988. Responsible for the business operations of the company from manufacturing to maintaining the company’s international operating standards such as the ISO 13485 and product certification.

Prof. Dato’ Dr. Mohamad Abdul Razak

Advisor

An Orthopaedic Surgeon Specialist by training, carries a wealth of knowledge not only in medicine but also in management. Received 7 Gold Awards in research, with 4 Silver Awards and recipient of best paper award, the Mahmood Merican Award for Orthopaedics. Has substantial experience having served in various positions: Director of Hospital Universiti Kebangsaan Malaysia (HUKM), Deputy Vice-Chancellor (Student and Alumni Affairs UKM, and Vice-Chancellor of Allianze University College of Medical Sciences.

Dr. Kuan Chee Sian

Chief Technology Officer

Ph.D. (Molecular cellular and biology), Universiti Sains Malaysia. 2010/14. Bachelor of Health Science (Honours) (Biomedicine), Universiti Sains Malaysia). 2010/14.

Term Sheet

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