Practice-changing technology
to get depression patients
into remission faster
What’s the Problem?
• Every year, over 40 million people in the US,
Canada, EU, and Japan are diagnosed with major
depressive disorder
• 52% are unsatisfied with prescription drugs, 29%
are satisfied, the rest try psychotherapy (7%),
electroconvulsive therapy (7%), implants (4%),
and transcranial magnetic stimulation (1%)
• Pharmacology: most popular treatment, 30%
efficacy, expensive, unwanted side effects
Solution to the Problem
• Innovations to make
transcranial magnetic
stimulation (TMS) a viable
alternative to
– Patent-pending disruptive
semiconductor switch emits
novel pulse
– Pulse doubles therapeutic
benefits (60% efficacy)
– Increased instrumentation
lifespan from 75 to 1,000
patients, reducing costs by 75%
– Robotic stimulator automates
and personalizes treatment
according to brain scans
KUKA LWR5 robot arm
Practice-changing technology
• Technical overview
– Switch emits a new pulse that mitigates the confounding
physiological effects of conventional TMS pulses, which are
responsible for low clinical efficacy
– Switch is installed in NeuroQore’s stand-alone therapy unit
– NeuroQore is focused on depression, but technology has
applications for numerous cognitive disorders, including
Alzheimer's, Parkinson’s, multiple sclerosis, autism, ADHD, and
– Four U.S. provisional patents filed, filing a patent cooperation
treaty application
– Clinical trials on 120 depression patients (16 months) needed
for regulatory approval and reimbursement in Ontario, our first
focus region, full funding secured through Royal Ottawa
Hospital and Health Technology Exchange
Market Opportunity
• Innovations will allow NeuroQore to supplant
competitors, become a leading global manufacturer,
and challenge Big Pharma
• Therapeutic market for depression worth $10
billion per year
– Growing
• Research market worth $55 million per year
• Market segments:
– Therapeutic market: hospitals, clinics, competitors
– Research market: universities, research centres
• NeuroQore’s switch and therapy unit create value for
different customers
– Researchers: Potential for new research and development,
increased funding, more publications
– Patients: Clinical efficacy and getting into remission faster
– Therapeutic providers: Increased clinical efficacy,
expanded instrumentation lifespan, reduced costs
– Businesses and governments: increased efficacy, reduced
health-care costs, increased productivity
• Product-ready status
– Switch can be built, new therapy unit being finalized in a
pilot study
Path to Market
• Products are delivered using existing distribution
• For marketing and sales, five channels will be used: direct
contact by sales force, direct contact for research
collaboration by research team, indirect marketing
through distributors, strong online presence, and hosting
an annual TMS conference
• Business model: Selling high-ticket hardware, with
support and service providing recurring revenue
– Lease arrangements available for researchers and providers
– We envision the establishment of therapeutic clinics based on
NeuroQore technology
Competitive Edge
NeuroQore (Canada)
Neuronetics (US)
Magstim (UK)
Magventure (Denmark)
1,000 patients
100 patients
100 patients
100 patients
Nexstim (Finland)
Brainsway (Israel)
Neuronix (Israel)
Confounded 100 patients
Confounded 100 patients
Confounded 100 patients
Financial Forecast
• Research market (Q42013–Q42014)
• Therapeutic market (2015–16)
• High-ticket item revenue model
– 1 research product ($1M): Stimulator ($500,000), robot
($400,000), support and service ($100,000/year)
– Therapeutic model: ($825 per patient): Stimulator ($750), robot
($50), support and service ($25)
• Time to Profitability
– Projection: $3M in 2014, $18 million in 2015
– Research market revenues will be used to bootstrap throughout
clinical trials, in anticipation for therapeutic market launch
($18M in 2015, $41M in 2016)
• Management
– Dr. Mehran Talebinejad (PhD Electrical/Biomedical Engineering) is the
Founder and CEO
• Over 10 years of experience in medical technology research and development
and two years of experience in technology innovation and management
• Selected as one of the National Capital Region’s 100 Rising Star CEOs by Invest
– Dr. Adrian Chan (PhD Electrical Engineering) is the Technology Officer
• An associate professor at Carleton University and the director of the OttawaCarleton Institute for Biomedical Engineering, Dr. Chan has more than 15
years of experience in health technology research and development
• Specializes in TMS and signal and image processing
• Advisors
– NeuroQore has an advisory board with expertise on finance,
investment, law, manufacturing, clinical psychiatry, marketing, and
sales and mentors from the public and private sectors
Key Milestones
• Product design and development
– Raised over $400,000 in public and private sector grants
– Manufactured two switches
– Therapy unit being finalized in pilot study
• Established key partnerships
– $200,000 worth of equipment from KUKA Robotics
– Medical partnerships with the Royal Ottawa Mental Health Centre and
Health Quality Ontario
• Raised $1.2M for clinical trials (16 months)
• To accomplish our next goals, we move from Ontario Centres
of Excellence Market Readiness Phase II to Phase III.
Use of Proceeds
• With funding, NeuroQore can build switches, install units
at select hospitals/research centres, and hire highly
qualified personnel to generate proof points using
metabolic and functional imaging, which is needed for
successful commercialization in the therapeutic markets for
depression and eventually other cognitive disorders
• Starting at the beginning of Q42013 and ending by the end
of Q42014, we could accomplish generating proof points
for regulatory approval and reimbursement and
developing advertisement content for launch onto the
therapeutic market for depression in 2015–16
Investment Highlights
• Innovations will allow NeuroQore to supplant competitors,
become a leading global manufacturer
• Significant revenue potential: Research market worth
$55M/year, therapeutic market worth $10B/year
– Projection: $3M in 2014, $18M in 2015, $41M in 2016
• Strong team, over 25 years of combined experience
• Established key partnerships, secured first users
• Secured $1.2M for clinical trials, ready to begin (16 months),
set to commercialize technology
Practice-changing technology
to get depression patients
into remission faster