OncoStats

Idea

Introduction

OncoStats aims to be the leading software to change the practice of Oncology.

In short, OncoStats allows clinical information to be registered in a systematic and structured manner in a database, with every piece of registered information being previously validated by a physician. Patients also submit standardized information during ambulatory treatments (patient-related outcomes) and are actively engaged through a dedicated app. The data we gather is then used to produce real-world evidence (RWE) that impacts the way oncology care is delivered.

Please note that the app is currently being developed.

Intended impact

Clinical information is almost entirely stored in the form of unstructured data (e.g. free-form text) inside hospital's databases. Most companies that work with data choose to focus on techniques to create value from these sources, usually Data Mining, which demands huge numbers of individual patient data to combat their imprecise nature. Instead, OncoStats chooses to focus on providing a software platform that is used by doctors every day, improving their workflow in a meaningful way while, at the same time, effortlessly collects valuable, robust and clinically validated information. Objectively, this means that for every 100 individual patient datasets collected with OncoStats, we estimate that Data Mining techniques would need 10,000 individual patient datasets to match the same accuracy and value.

OncoStats has an impact on several dimensions:

- For Oncologists, it means time saved when producing patient reports, it improves the quality of clinical information and reduces the likelihood of errors by supporting decisions on patient staging and choosing the most appropriate therapy for individual patient characteristics.

- For Patients it results in better care received and they are provided with a tool that they can take home during treatments to report adverse effects, receive support and keep in touch with their doctors.

- For Hospital Administrators and Clinical Directors it results in drops in consultation duration times and in costs due to less inappropriate exams being ordered and more accurate diagnosis. They receive better performance indicators which allows their institution to be recognized as an "Excellence/Reference” center, which ultimately brings more patient referrals. They will find it easier to attract deals with Pharmaceuticals for clinical trials and RWE studies.

- For Pharmaceuticals it means quality RWE and drug safety surveillance data is being collected which should allow for better deals with regulatory agencies and governments when negotiating drug prices and copayments.

We have also had interest from Governments and Regulators regarding the product.

Substantial accomplishments to date

We are currently running a real world pilot in a Portuguese public hospital that will integrate with the existing IT ecosystem, coexisting with and complementing the local Electronical Medical Records (EMR) system.

Because the same basic EMR runs in many hospitals in Portugal, a successful pilot has the potential to become a launch platform for nearly every public hospital in the country.

We are also currently running a real world pilot in private hospital from one of the largest healthcare groups in Portugal.

These two hospitals will be our first 2 clients at the end of the pilot duration (early 2017).

By leveraging the capabilities of OncoStats and the unique market conditions in Portugal, we foresee that Portugal will become a centralised hub to collect Real-World Evidence with an impact that resonates in the way Oncology is practiced throughout Europe.

Monetisation strategy

Our target audience is cancer treatment institutions (both public and private hospitals). OncoStats intends to sell software licenses, analytics reports and cement partnerships with Pharmaceuticals (generating RWE pipelines).

The price for licenses is based on several variables: contract duration, number of cancer modules, number of clinical users and number of patients.

The base license price includes an annual automated analytics report for the hospital administration. A customized report to address specific needs (e.g. criteria fulfillment to become a Reference/Excellence Center, clinical trials criteria application, etc.) can be negotiated in the contract.

The number of cancer modules is flexible: for example, an initial contract agreement can be had for a single cancer module (e.g. OncoStats for Breast Cancer) but other modules can be added later in the future at an additional cost.

We intend to cement partnerships between pharmaceuticals and the hospitals that use OncoStats for the collection of RWE, including drug efficiency and safety indicators and adverse events reports.

Use of proceeds

Our strategy for the use of proceeds is the following:

- Team and product development (85%): we'll focus on the recruitment of additional software developers, a graphic designer and a principal investigator/lead researcher; an important effort will be made to improve the integration of OncoStats with a number of IT ecosystems in order to benefit from a nearly "plug-and-play" approach in future sales to new institutions; the development of additional cancer modules (we started with breast cancer, next up is colon, gastric, lung and prostate cancer - approximately 3 months development per module); the development of the app that patients can take home during treatments to report adverse effects, receive support and keep in touch with their doctors.

- Develop our international expansion strategy (10% funding), establishing strategic partnerships with cancer treatment institutions with a focus in Europe, South America and Asia.

- Working Capital (5% funding).