MedNexis, Inc., which is the company, is a medical-device development company that has created and patented medical products it plans to market. With the help of top medical professionals and biomedical engineers, a magnetic muscle stimulator/field generation device was developed. One patent was initially filed.
One market addresses the unmet need for atrophy prevention/treatment in conditions that result in patient immobilization lasting more than two weeks. Two weeks of immobilization results in a muscle losing over 30%, which means that it will take longer to recover fully. A new and innovative design, dubbed the MedStim system, has been created to answer this need for an effective, easy-to-use atrophy prevention/treatment device. As further research into the benefits of pulsed electromagnetic fields becomes available, this device will likely be used in more ways. Studies have shown that pulsed field magnetism can be used to accelerate the healing time of skeletal fractures.
The market for magnetic stimulation devices in allopathic medicine is existent, but in the embryonic stages and subject to explosive growth once the technology proves cost-effective. The potential market is estimated to have reached 4.2 million people in the United States. MedStim, an innovative new device to target this market, has been created.
Another market addresses an unanswered need in the alternative medicine market for a device which will provide a more powerful and consistent therapeutic magnetic field. Dynamic magnetic fields therapy (the treatment and manipulation of soft tissue using variable magnetic pulses) has been shown to have beneficial effects on the immune system, circulation, wound healing, and other aspects of alternative healthcare. The strength of the magnetic fields generated is thought to determine these effects. TheraMag, a novel design to meet this demand for an enhanced therapeutic magnetic field in alternative medical treatment, has been created. This market is in existence and is expected to have the potential of approximately 40 million customers in the United States on our starting date.
Patent applications covering the company’s initial market entries were filed by a biomedical device patent specialist patent agent. MedNexis’#8217TM technology uses the principle that a magnet in a coil generates a magnetic fields which, in turn creates a current through any conductive materials within this field. This model is currently effectively applied in diagnostic studies in which single nerves are stimulated with magnetism for diagnostic purposes alone. MedNexis developed an electromagnetic device that will painlessly stimulate the muscles of humans to contract using this model. Applications of this technology are numerous, with the following devices being those initially marketed:
MedNexis’ will develop a patented device that can effectively stimulate muscles. This will require more electrical currents, greater functionality, as well as a wider selection of settings. This device will be used in mainstream, allopathic medicine.
TheraMag-MedNexis’#8217′ patented device will allow tissue to be bathed in a magnetic field, without causing muscle contraction. This device will also be sold for other uses.
MedNexis targets the following markets: allopathic and alternative medicine. In order to effectively distance the two products from possible negative connotations associated with alternative medicine in the field of allopathic medicine, the two devices will be given separate and distinct names: MedStim for the allopathic medicine device and TheraMag for the alternative medicine device.
MedStim will only be available through major distributors. It will not be accessible to the general public via other channels. Partnership with these companies will be crucial for gaining market acceptance. MedNexis’, which is focusing on the market’s first efforts, will focus heavily on the production of controlled, randomized study data.
TheraMag distribution will be made to alternative medicine centers, which are more centralized. Also, direct sales will be possible. Less scientific proof is required by this market, and entrance will be immediate once the FDA issues an Investigational Device Exemption.
You can get an Investigational Device Exemption for your product and clearly label it.
FDA regulations will be met and market entry will be expedited. Successful research results will result in a significant increase in demand for these products and the possibility of expansion into foreign markets.
Research and Development at the animal stage is ongoing, in the first year of one.
- Patent coverage extended to Australia, Europe, Canada and the United States, middle Year One
- Human clinical trials underway, middle Year Two.
- Published research studies, End of Year 2.
- TheraMag available for purchase, year one
- MagnaStim for sale, labeled as ‘For Investigational Use Only’, end of Year Two.
- Year Four is the year of profitability
The MagnaStim & TheraMag devices work well and are user-friendly. But, other devices that are currently on the markets are less effective, or more difficult to use, for the recommended therapeutic treatment. MedNexis will use its patented designs to fill the need in the market for an easier to use, more effective magnetic stimulator/field generator.
Based on financial projections, the company can operate profitably in Year 3 if it gets $750,000 of funding. The company projects $23.5million in sales, with a tremendous net profit in year 3. Projections are based on penetration less than 3% in any market segment.
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