Incumed, Inc. - the process

The Process

The product concept /clinical need is discussed under the terms of a mutually agreed upon confidential disclosure agreement. Incumed will initiate a design phase that includes design review and (if necessary) design development. This design phase is software driven and iterative, requiring a great deal of electronic and face-to-face interaction.

Once a mutually acceptable design has been established, we proceed to the due diligence phase. Market and technical due diligence is managed in parallel paths to enable a rapid "go/no go " decision. Technical due diligence primarily targets the intellectual property issues to better understand the ability to practice and protect the product design. Market due diligence attempts to measure the clinical need for the product, assess the competitive landscape and determine the scope and depth of the corporate environment we could eventually market the product to. Often, functional prototypes must be developed to assist this process and make a more accurate assessment of the opportunity.

If we are inclined to pursue the project to completion, we provide an analysis of the opportunity, a project plan and a business proposal to our potential partner. The economic proposal is unique to each product and is determined largely by the scale of the project, intellectual property contribution, the competitive landscape, and the scope of outside services required to complete the project.

Once agreement on the business terms is achieved, the project is pursued. Functional prototypes are developed, tested and used clinically. Early on in the project we attempt to determine the most effective "proof of principle" for the product. The project plan will include all the steps required to achieve this proof. We will thoroughly test the product to establish reproducible evidence that the device has merit and should be fully valued. This process typically includes product evaluation by several established "thought leaders" in the respective medical specialty. The development process is not complete until the device has been tested to our mutual satisfaction.

The final marketing phase is aimed to maximize the economic return to the shareholders of the product entity. This could include exclusive negotiations with targeted party, discussions with a limited group of select bidders or a managed auction of the product. The resulting transaction could range from an outright product purchase to a sale with earn-out provisions or a non-exclusive license with royalties.

© Incumed, Incorporated
919-957-8686 - info@incu-med.com - www.incu-med.com
7429 ACC Blvd - Suite 107 - Raleigh, NC 27617