Looking for $3M to commercialize our molecular binding technology that will reduce the time it takes to deliver drugs to clinical trials.
The Problem: Today, over 90% of drugs fail in clinical trials. Covid-19 has highlighted the inability to rapidly develop reliable diagnostics tests. The primary reason for both scenarios is a lack of real innovation in molecular binding analysis techniques. No technologies on the market can accurately measure the behavior of biding pairs in native samples. Todays techniques require labeling or immobilization, have a narrow dynamic range, or have other limiting factors that alter the subject molecules and make physiologically relevant data difficult to attain.
The solution: Measure a strong native binding signal with a proprietary optical technology. Compensated Backscattering Interferometry (CBSI) is the first technique to produce analytical measurements from detecting changes in structure (conformation) and hydration that occur in all binding events. CBSI performs laboratory experiments in near natural conditions, delivering physiologically relevant and predictive data, at low cost.
Value Proposition: Groundbreaking measurement technique that will improve success rates of drugs in clinical trials and enable rapid development of accurate diagnostics in all disease states.
•1µl per sample size
•Mix-and-read assay format
•Label and immobilization free eliminates perturbation of natural binding behavior
•Approximately 75% faster test development time than conventional methods
•Any molecule binding pair; platform technology
•Any sample matrix; ex-vivo tests
Go-To-Market: Meru will initially enter the $450M drug discovery tools market to take advantage of low barriers to entry. After establishing market acceptance, Meru will enter the $24B IVD immunoassay market. With a Beta instrument Meru will offer an early access testing service program to establish initial revenue and market validation. Meru will launch the first commercial model by targeting research focused on Kinases, GPCRs and immunogenicity bridging assays for drug discovery. A direct U.S. sales channel and international distribution will sell instruments and consumables for recurring revenue. After establishing a market presence, Meru will develop and launch IVD immunoassays for use in central labs and in near patient settings.
Company
Founded April 2019
Delaware C-Corp
Headquarters: Richmond, VA
Fulltime: 3
Technology Overview
•Compensated Backscattering Interferometry (CBSI) enables label & immobilization free detection of protein interactions
•Novel optical instrument and test methodology
•Measures the natural binding signal of protein conformational change
•Measure any molecule in any matrix
•8 Patents Issued (Vanderbilt-licensed)
Value Proposition
•Groundbreaking detection methodology eliminates the necessary limitations of all other binding analysis techniques.
•Rapid, accurate, and low-cost research and diagnostic measurements made possible.
• Measure any binding event in any sample using any probe
Opportunity
•Immediate access to half of the 10,000 pharma and biologics companies and 2000 CROs; $450M instrument market
•Paradigm shift in capabilities in the $24B IVD immunoassay market
•Recent acquisitions are 3x-4x revenue
Management Team
Dan Rodenhaver, MBA, co-founder, CEO.
Forge Medical (founder), Stryker, Marine Corps
Theresa Schaub, MBA, co-founder, COO.
Chemicon, eBio, DiscoverX, Affymetrix, Eurofins
Ralph Martel, Ph.D., CTO.
HTG Molecular Diagnostics, Somalogic, AZ Biosignature Lab, Affymetrix
Financial Info
Business Stage: Beta instrument
Series Objective: $3M Seed
Secured $1,150,000 in Angel, $770K in non-dilutive grants