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MCALLEN, TX, August 31, 2022 /24-7PressRelease/ -- Hera Diagnostics gets listed on THE OCMX™
Hera Diagnostics saves lives by delivering revolutionary disease screening and diagnostics tools to the global community, with a focus on providing quality healthcare access to the people and communities most affected by socioeconomic hardship and cultural barriers.
The company's first product, HeraFem™, is a cervical cancer screening device designed to drastically reduce the barriers many women in underserved markets face when seeking gynecological care. The World Health Organization reports that of the estimated 342,000 preventable deaths from cervical cancer in 2020, about 90% of those occurred in low- and middle-income countries. Superior to existing screening methods in terms of cost, accuracy, patient experience, real time results and early detection, the HeraFem™ device not only improves on current methods used in the developed world, it transforms access to care for those who need it most.
Founded on strong principles of equity and diversity, Hera Diagnostics is a binational entity rooted in the concept that exchanges of experience should extend far beyond geography. Hera Diagnostics is a USA Delaware Corporation.with Founders and key collaborators based throughout the USA and Mexico. Two thirds of Hera Diagnostics' Founders are Latino(a) and ~38% of Founder shares are owned by women.
The OCMX™ is pleased to announce the listing of Hera Diagnostics to its online portal which offers financial networks the ability to learn more about this exciting opportunity.
The OCMX™ has spent considerable time completing its due diligence on Hera Diagnostics and concluded that there is indeed a tremendous potential for this company.
The OCMX™ noted that Hera Diagnostics exhibits the main components of any solid opportunity, namely a solid management team, a great track record, and several key competitive advantages.
PROBLEM THEY ARE SOLVING
The cervical cancer screening tools currently on the market (Pap Smear and Visual Inspections with Acetic Acid (VIA)) have been accepted screening techniques in the market space for decades; nevertheless, there exist some clear pain points for practitioners and patients. Visual Inspections with ascetic acid are subjective tests in that they require skilled practitioners to conduct the exam, and skill is a difficult variable to control. As such, VIA's have poor reproducibility and the result is adversely affected by visual light. The result of such inconsistent variables is that in some regions of the world, the sensitivity and specificity of VIA tests can be as low as 20%.
Similarly, in two thirds of the world the Pap Smear is highly inaccurate, with sensitivity as low as 30% in some regions according to the World Health Organization. Furthermore, the Pap Smear is painful for some women and uncomfortable for most. It requires a sample and laboratory infrastructure to obtain results, and the results are not immediately available.
Depending on the country and region, it can take days or months to get a result. In the aggregate, these factors – discomfort, long wait times, and lack of reliability – result in poor patient experience. Many women report anxiety while waiting for results, and some women report cramping and spotting (bleeding) in the hours or days after the Pap Smear. In some rural areas, women are not screened due to lack of healthcare infrastructure. As a result of these realities, there exists an opportunity for low cost, real time, patient centric, and accurate cervical cancer screening.
WHERE THEY ARE HEADED
Hera Diagnostics' vision is to make the diagnosis of disease affordable, comfortable, highly accurate, in real time, at the point of care. For the cervical cancer screening market, Hera Diagnostics has developed HeraFem™, a low cost, accurate, real time, portable, and comfortable screening device. The device utilizes optoelectronic spectroscopy, along with artificial intelligence to yield an immediate and accurate screen for cervical cancer. The company is less than one year away from generating sales in Mexico. Thereafter, the company plans to pursue markets in the USA, Canada, Europe, China, India, and S. America, with a goal of selling in 10 countries within 6 years.
Moreover, during the next 12 months Hera Diagnostics is using the same hardware to develop a skin cancer algorithm for the skin cancer screening market. With the use of artificial intelligence and machine learning techniques for continuous improvement of the detection algorithm, Hera Diagnostics believes that its technology may eventually become so accurate that it can also replace the biopsy and be used as the gold standard for instant diagnosis of certain cancers, providing the ability to move straight into treatment.
• Low Risk Profile: Most USA medical device companies do not reach revenue until Series B and on average require $10M to $30M USD in investment to get to revenue. Hera Diagnostics will reach revenue in Mexico at the end of the Seed Round, making the investment low risk.
• Winning Team: Hera Diagnostics' core, full-time team is comprised primarily of Founders who bring a wealth of knowledge in their respective scientific and commercial fields, along with the collective passion needed to bring Hera Diagnostics' technology to the global market as part of its mission to save lives and improve access to healthcare. Notably, Encore Health, a key Founder and strategic partner has 35 years of experience selling to the Mexico Government, a key target customer for Hera Diagnostics in the Mexico market space. Hera Diagnostics has also compiled a best-in-class advisor board with subject matter experts in the medical, business, financial, marketing and commercial strategy landscapes.
• Technology: Hera Diagnostics has patented technology that has been validated by independent clinical study of 225 women in Guadalajara, Mexico.
• Revenue Focused: While many tech companies burn through millions carelessly, Hera Diagnostics' team is focused on fundamentals such as revenue and profits and they share a unified goal of creating financial success for all stakeholders through profit generation and a strong exit.
• Strong Exit Multiple: Hera Diagnostics exists at the intersection of oncology, artificial intelligence and women's health. Companies in this sector are trading at ~25X times EBITDA.
Teo Tijerina, CEO: A bilingual Spanish/English well-rounded professional with a career trajectory that spans innovation, technology commercialization, capital formation, corporate management, entrepreneurship, manufacturing, and high-tech engineering. Innovator and founder of for-profit and non-profit ventures. Bachelor of Science degree in Chemical Engineering, Stanford University.
Dr. Jesus Seañez, CTO: Passionate about developing technologies and medical devices that provide solutions to health problems that affect the population in general. I have more than 13 years' experience in the use of opto-electronic technology and intelligent systems developing medical devices for cancer detection considering the different regulatory pathways. Bachelor of Science degree in Biomedical Engineering and Doctor of Philosophy (PhD) in Information & Communication Technology, Tec de Monterrey University (Mexico).
Delaney Dunn-Dichoso, COO & General Counsel: An executive and legal counsel with a background that is varied in a multitude of areas including 12+ years of combined legal experience in business litigation, M&A, transactional, and employment law, 7+ years of operations experience including employee relations and management, back office administration management, and payroll/taxes and human resources, 7+ years of business strategy including marketing, branding, sales, organizational & financial planning and management, 4+ years in the healthcare space specializing in strategic business and network development across healthcare, oncology, precision medicine, population and environmental health.
• Obtain Mexican FDA (COFEPRIS Approval) by April 2023. (Status: 25% complete)
• Obtain sales in Mexico in either private or public sector by April 2023. (Status: 25% complete)
• Improve device specificity to above 85%. (Status: 40% complete)
• Complete new device patents. File them in USA / Mexico. (Status: 70% complete)
• Complete USA FDA pathway, 513g, Pre-Submission, and IRB Protocol Approval. (Status: 5% complete)
ABOUT THE OCMX™
The OCMX™, established in 2009, is a next generation investor relations and marketing outreach firm. Through our online OCMX portal, we connect companies with financial networks, generating interest and awareness for their opportunity.
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