Monday, July 23, 2007

The Pitch

BioXcell

Headquarters: Beverly

Employees: 2

E-mail: clauderanoux@yahoo.com

Phone: 978-524-9901

The Pitch: BioXcell is seeking $1.2 million

Pitching the technology

BioXcell is a biotech startup that has developed a technology called INVO, an innovative, lower cost alternative to in vitro fertilization with similar results. The INVO will provide a simple, natural, "in-body" incubation instead of an equipment-intensive, laboratory-based incubation.

Pitching the people

Who are the company's founders? Claude Ranoux, founder, president and chief scientist, has been in charge of the clinical affairs of the company since 2001. Ranoux was inventor and developer of the INVO procedure.

Who is on the management team? In addition to Ranoux, the BioXcell team includes Kathleen Karloff, VP of quality assurance and COO, who has more than 25 years experience in medical device manufacturing, clinical operations and regulatory quality systems at MacroChem Corp. and Boston Scientific Corp. BioXcell is recruiting a CEO with experience in medical device, regulatory affairs and company acquisition.

Have executives been involved in a cashout prior to this venture? Yes.

Who is on the board of advisers? The advisory board is essentially scientific. The board includes Leo Bonaventura and Randy Morris, reproductive endocrinologists and directors at IVF centers near Indianapolis and Chicago. Keith Isaacson is as professor at Harvard Medical School. Richard Rawlins is a professor at Rush University in Chicago. Rene Frydman is a professor at the University of Paris.

Pitching the business

How much money is being sought? BioXcell is seeking to raise $ 1.2 million to fund the company operations. Ranoux says the money should be enough to get the company through 510K clearance from the U.S Food and Drug Administration, launch the product and put in place a partnership for the distribution of the product.

What partnerships, collaborations or affiliations are already in place? BioXcell has outsourced product engineering, tool design and fabrication, molding operations, and final assembly and packaging to REC Manufacturing, J-PAC LLC, Steris Isometrics and Toxicon. BioXcell is affiliated with the WPI Venture Forum.

What's the market size being pursued? Infertility treatment is a $6 billion industry worldwide.

Who are the likely competitors, direct or indirect? There are no direct competitors to BioXcell or the INVO process. There are, however, standard infertility treatment regimes.

Is the company profitable? No. Assuming a June 2008 product launch, BioXcell expects to achieve break-even by second-quarter 2009.

Current annual revenue: None.