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| Summary Description |
| Develops and supplies molecular diagnostic products to aid rapid and accurate diagnosis of life-threatening invasive fungal infections. |
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| Management |
| Professor David Denning, Founder & current Chief Medical Officer;
Jerel Whittingham, Exec Chairman (Managing Director, Amphion Innovations plc);
Spencer Kerry, Chief Financial Officer;
Dr John Thornback, Chief Business Officer;
Gill Morgan, Chief Development Officer |
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| Description |
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Myconostica's goal is to become the world leader in the diagnosis of fungal infections by providing high quality, accurate and fast diagnostic tests, using molecular technology. They will build a valuable business, attractive to trade sale through helping clinicians save lives and hospital administrators save money.
Founded by a clinical expert only 3 years ago, they already have a number of products commercially available and a pipeline of further products.
They service end users (hospital laboratories) using a network of distributors. They are ISO13485 certified, and their development / commercialisation capabilities are attracting interest in the industry. |
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| Products / Services |
Myconostica has developed, CE marked and launched molecular tests for Aspergillus and Pneumocystis (MycAssay Aspergillus and MycAssay Pneumocystis), the two primary respiratory invasive fungal pathogens, for use on a variety of laboratory Real-Time PCR (RT-PCR) platforms. The company has also CE marked and launched an effective fungal DNA extraction kit. Myconostica has developed a microarray product to detect up to 17 pathogenic yeasts, which is currently available for research use. Myconostica has a strong pipeline of other products including a RT-PCR product for Candida, the major blood borne fungal pathogen.
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| Technology / Differentiation |
| Myconostica is a product focused company and does not rely on one technology. Instead we develop the appropriate product to meet clinical need; developing, licencing or acquiring the most appropriate technology for each product.
Myconostica has an extremely active intellectual property program to both aggressively develop its own intellectual property and to in license additional intellectual property as needed for its business model. At this time Myconostica has patents and patent applications in the US, Europe and Japan. Myconostica's intellectual property portfolio includes both exclusive and non-exclusive patents and the patent portfolio will continue to grow and expand with the business.
More information is available in a separate document on request. |
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| Market / Customers |
Invasive fungal disease is a growing, major medical problem. There are many at risk patient numbers (>10M in US and EU alone) which include; solid organ and stem cell transplant patients, patients with blood cancers and HIV/AIDS, and other immunocompromised patient groups.
These diseases have significant mortality: 50% of patients are diagnosed at autopsy. Furthermore, antifungal therapy and hospital / ICU stay expensive (eg incremental costs from contracting aspergillosis estimated at $40K in US). Myconostica's rapid and accurate diagnostic tests aim to save lives and money.
The current market size is estimated at >$300M.
While there is a clinical decision-making process to order the test, Myconostica's primary customers are microbiology laboratories. These laboratories may be private (such as Micropathology in the UK and Quest, LabCorp, Miravista and ARUP in the US). In the Big 5 EU markets, there are public regional reference laboratories that carry out microbiology tests. Myconostica has set up a network of distributors (across EU and in a number of other countries including Canada and South Africa, including Alere and Werfen group) who are experienced and established companies that access our key laboratory customers on a regular basis.
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| Competitors / Substitutes / Alternatives |
Only Myconostica is developing a suite of product solutions to provide the clinician with a complete clinical picture to aid rapid and accurate diagnosis of fungal infections.
Homebrew tests (tests developed and run in house by laboratories) are not licensed and the FDA and Europe are actively discouraging use of these tests after the research phase. There is currently an EU initiative to restrict the use of homebrew tests and force laboratories to use an equivalent CE marked kit when/where available.
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