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SHERMAN OAKS, CA, November 14, 2022 /24-7PressRelease/ -- SmartBreast™ gets listed on THE OCMX™
SmartBreast empowers women with dense breasts to defeat cancer by early detection and treatment. We are focused on Dense-Breast Patient Management and provide AI software and dense-breast scanners to breast radiologists, surgeons, and oncologists.
Our tools enable them to effectively care for the 50% of women with dense breasts, which is the most significant risk factor for breast cancer.
The OCMX™ is pleased to announce the listing of SmartBreast 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 SmartBreast and concluded that there is indeed a tremendous potential for this company.
The OCMX™ noted that SmartBreast 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
Late detection of breast cancer requires aggressive treatment and greatly reduces long-term survival. Women with dense breasts have 5 times greater cancer risk and 4 times the risk of recurrence. Mammography fails 54% of the time in dense breasts to find early-stage cancer which is easily treatable and survivable.
Dense breast tissue masks early-stage cancer, making it invisible on screening mammograms. This is a big problem: 50% of Western women and 70% of Asian women have dense breasts.
Dense breast tissue can also mimic the appearance of cancer, which leads to many unnecessary biopsies. The leading cause of malpractice claims is missed breast cancer on mammography.
Nearly half (46%) of women with dense breasts find mammography very painful, and so they skip their regular mammography screening. SmartBreast provides solutions for both early cancer detection and imaging comfort.
WHERE THEY ARE HEADED
We intend to acquire two AI software startups in 2023 that enable dense-breast image interpretation. We will develop AI software to assess personal risk of women with dense breasts by using their images, clinical and family data, genetics, and liquid biopsies. Then we will advise these women and their physicians how to optimally manage their dense breast imaging to ensure that any cancer is detected early.
In addition, SmartBreast has acquired the MBI (molecular breast imaging) assets of GE HealthCare and Dilon Technologies; both are FDA 510(k) cleared, are reimbursed for diagnostic imaging, and find 3.5 times more cancers in dense breasts than mammography.
• Each of the 5 executive leaders (4 PhD, 1 MD) has 30+ years of medical imaging experience
• The team has worked together before and between them share 7 exits and 7 acquisitions
• MBI is the most sensitive and specific dense breast imaging modality, finding cancer 4-6 years earlier than mammography and without painful compression
• More than 50 thousand patients have been studied by MBI, producing more than 100 research publications of dozens of research trials, and our MBI is registered in 12 countries
• Low operating expenses: lean management and operations global team; cost-efficient contract manufacturing, focused marketing, and vetted distributors
President & CEO: James W Hugg, PhD, MBA (Physics – Caltech & Stanford):
10 years at GE HealthCare, Lean/Six Sigma Master Black Belt, faculty positions in Biomedical Engineering, NIH research grants, startups (CTO & Sr. VP) – 3 exits, 20+ patents, 50+ research publications
Chair: Bradley E Patt, PhD (Biomedical Engineering – UC Santa Barbara):
Serial entrepreneur (CEO & Chair) – 7 exits, 20+ patents, 150+ research papers
Vice Chair: Chin-Tu Chen, PhD (Medical Physics – University of Chicago):
Professor of Radiology and Medical Physics, serial entrepreneur, 300+ research papers, 10 book chapters, 6 patents
Vice President: Vincenzo LaBella, PhD (Biomedical Engineering – Politecnico di Milano):
Siemens, Picker, biomedical engineering consultant, distributor of medical imaging equipment and software
Vice President: Eduardo Santos, MD (Breast Surgeon - MGH):
Asian Breast Center, Manila, Chief: Medical Officer; serial entrepreneur, Chair - SmartBreast Medical Advisory Board
• Raised US$2.5 million seed financing during pandemic lockdowns
• Acquired two FDA-cleared & reimbursed MBI product lines (ready to market & sell)
• Attained an installed base of 217 MBI customers in 12 countries
• 17 patents granted, 3 pending; 3 trademark registrations, 9 pending
• Transferred MBI manufacturing technology to contract manufacturer (FoxConn subsidiary, Taiwan) and outsourced MBI service to a contract service organization (USA) with rapid response capabilities
• US$5 million revenues pre-COVID pandemic & MBI acquisitions; on track to match that rate in 2023
• Break even in 2024
• US$100 million revenues in 2027
• Global Breast imaging TAM = US$4.6 billion, 10% CAGR; Dense Breast Imaging SAM = US$2.3 billion; Dense Breast Management SOM = US$110 million
• IRR = 54% (most likely scenario), 74% (optimistic, 1.5 X revenues)
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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