Photochromic contact lenses Project of spin off company

Photochromic contact lensesProject of spin off company

Aleksandra GłodkowskaBob KnarrMarta Fik

Mikołaj ŚwiderRadwan Mohamed

Bromm’s Vision®

What?Photochromism

UV radiation Visible light

Photochromic contact lenses

Bromm’s Vision®

Why?• UVA and UVB protection (200-400 nm)• Human lens protection (avoiding

cataract)• Improvement of esthetic and comfort

aspects

Global StatisticsContact Lens Statistics  

Number of people globally who wear contact lenses 125 million

Number of Americans who wear contact lenses 38 million

Annual worldwide revenue from contact lens sales $6.1 billion

US annual revenue from contact lens sales $2.1 billion

Average age of contact lens wearers 31 years

Percent of wearers who are female 67 %

Estimate worldwide annual revenue from contact lens sales in 2015 $15 billion

There are no such photochromic contact lenses anywhere in the world: no competition in this market

Our

Cor

ner o

f the

M

arke

t

Bromm’s Vision®http://www.euromonitor.com/

Where?• Poland WHY?

o Living in Polando Inexpensive materials and cheap

manpowero Advanced researcho Placed in central Europe

Bromm’s Vision®

Contact lenses in Poland

• Usage doubled from 1% to 2% between 2005 and 2012

• The level is relatively low compared to 5-7% in Western Europe and even 10% in the US

• J&J dominates with Acuvue because of a variety of products

• Compound annual growth rate of 7% predicted for the next 5 years

http://www.euromonitor.com/

0.7M of 38.5M

Bromm’s Vision®

Contact lenses in France

• The contact lens market has suffered due to the economic crisis

• Loyalty to J&J (second brand in French market)

• Low predicted growth and a consolidated market with just a few major companies, it will be hard to enter this market without licensing

http://www.euromonitor.com/

3 M of 65.8M 

Bromm’s Vision®

Contact lenses in Germany• The convenience of using contact

lenses and the innovative products that are on the market have contributed to the growth.

• In addition, contact lenses are preferred by the fashion conscious as these are considered to improve the appearance.

http://www.euromonitor.com/

2.7 M of 81.8M

Bromm’s Vision®

Contact lenses in the UK• Contact lenses made of silicone

hydrogel have been growing strongly in the UK

• Most manufacturers are now incorporating silicone hydrogel in their new product innovations as it has almost become a must

http://www.euromonitor.com/www.bcla.org.uk 

3.7M of 62.7M

Bromm’s Vision®

Bromm’s Vision®

DemographicsContact Lens wearers by SexSoft Contact Lens- Female 64% – Male -36%Percentage by AgeSoft:17 and Under – 10%18-25 – 23%26-39 – 45%40+ – 22%

Market is slanted to short term contacts

Contacts Vs Glasses

Glasses Contact Lens 0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

70.00%

• Glasses are seen as stylish; contact lenses offer less utility for minor vision problems

• There is a lot of ground to gain for contacts

http://www.aoa.org/patients-and-public/caring-for-your-vision/contact-lenses/facts-and-stats

HELPFUL HARMFUL

INTERNA

L

Strenghtso novelty of inventiono co-founders are scientists

(creative & powerful minds)

o ability of continous fitting to the market

Weaknesseso poor experience

in businesso non-recognizable

trademarko Contrahents – financial

fluence

EXTERNAL

Opportunitieso expansion to external

marketso growing number of people

with vision defectso possibility to sell the

licenseo consortium with research

lab (e.g. UniverSUD Paris)o venture capital

Threatso global crisiso competitor’s inventionso growing number of

permanent vision treatment (surgeries)

o patient’s preferences

Bromm’s Vision®

Bromm’s Vision®

Personal data Position held

Improvement needed

Needed time

period

Expectations of the position held

Carrier development

BSc Aleksandra Głodkowska

MSc Student Optometry

Scientist, Networkin

g

*PhD study in optometry,

specialisation in contactology

5 yrs

*Broadening the knowledge in contactology

*Improvement of business skills

*Prestige in scientific environment

*Scientific carrier in contactology (proff degree)

*Carrier in business

BSc Bob Knarr

MSc StudentPhysical and surface

chemistry

Market researche

r/sales

*MBA *Short course in

marketing1-2 yrs

*Understand the market and use this to sell our

products

*Connetcting with major contact lens producers

*Opening markets in new

countries

MSc Marta Fik

PhD Student Bioinorganic chemistry

Team leader

*Internship in spin off company

*MBA*Patent law

2 yrs

*Connections with business environment

*Improvement of leadership skills

*Prestige & financial benefits

*Expanding existing company*Casual position

at business university

MSc Mikołaj ŚwiderFundamental &

Theoretical Physics

Market Analysis

*Internship in spin off company 3 yrs

*Understand the polish lens market

*Team particular clients

*Carrier in business

BSc Radwan Mohamed

MSc StudentChemistry

Intelectual property *Patent law 2 yrs

*Communication skills*Business administration

skills

*PhD diploma in intellectual property

Intellectual property• Exclusive rights • Patent protect the production

processto sell it (photochromic contact lenses with new technical characters).

• Trademark protect the sign which identifies the product (Bromm’s Vision®)

• Industrial design protect the packaging of the product (B shaped box).

Bromm’s Vision®

The steps of protection

Bromm’s Vision®

• Protection period (of final product, technology process, packaging, trademark) 3 years

• Protection area Germany, France, Poland, United Kingdom

The steps of registration• Obtaining the CE mark• Approval of

Bromm’s Vision®

Seed capital

Seed capital

Recommended

Own financial resources

Angels investment

Bank loans

Partnership

Risky

Loans from family members

Gambling

Etc.

Networking & Cooperation

• Laboratory of Vision Science and Optometry- Faculty of Physics, Adam Mickiewicz University in Poznan

• Optometry Institute at Paris Sud 11 University

• PTOO – Polish Optometric Association • PSSK – Polish Association of Contact

Lenses• Johnson&Johnson Company• CooperVision Company Bromm’s

Vision®