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Jun 29, 2016 9:11 EST

Owlstone has developed a chemical detection technology that takes the form of a microchip and will eventually integrate into a cell phone and provide the sense of smell for the Internet of Things.

iCrowdNewswire - Jun 29, 2016

OWLSTONE

NORWALK, CT 06851, US
Medical Devices & Equipment
www.owlstonenanotech.com

Owlstone has developed a chemical detection technology that takes the form of a microchip and will eventually integrate into a cell phone and provide the sense of smell for the Internet of Things.

We have a platform technology, where regardless of the application, the hardware remains largely the same, and the application is enabled through software. We are a profitable business with existing contracts, sales and market penetration in multi-billion dollar markets (military, industrial, medical).

Owlstone currently has Department of Defense (DoD) funding to evolve our technology into a hand-held device that will deliver the highest level of sensitivity and selectively ever achieved in a portable instrument. Even though this hand-held product is about to change the capability of chemical detection in multi-billion dollar markets ranging from Military to Oil & Gas, the potential for our technology goes well beyond the current market expectations for hand-held point detectors.

Peer-reviewed research confirms that cancer and other major diseases can be diagnosed early by detecting chemicals in breath and bodily fluids. Through Owlstone Medical, we aim to become the global leader in non-invasive diagnostics for cancer, infectious disease and inflammatory disease. We have an established pipeline of medical applications, including multi-billion dollar opportunities in colon cancer and lung cancer screening.

Initial clinical trials have been completed in colon cancer and £1M contract has been received from UK National Health Service (NHS) for the LuCID lung cancer trials.

The full potential for Owlstone is the development of a standalone system that will fit in the palm of your hand and integrate into a cell phone. When this happens, Owlstone will have evolved from a company that is delivering chemical detection products at the point of need, to a business that is delivering chemical data, anywhere.

Fully miniaturized and cost optimized, our system will allow for pervasive deployment: real time chemical data will be available in every home, vehicle and street corner.

 

Products / Services

LuCID – lung cancer diagnosis

A breathalyzer for the detection of cancer. Stage 4 lung cancer patients have a 5% chance of survival. 75% of patients survive if diagnosed at Stage 1. Early diagnosis saves money and lives: this year US healthcare providers will spend $12 billion on lung cancer and lung cancer will cause over 150,000 deaths.

Funded by a $1.6m SBRI Healthcare development contract, Owlstone is leading a multi-centre clinical trial in the UK and Europe, researching the diagnosis of lung cancer by measuring volatile organic compounds (VOCs) in patients’ exhaled breath. With a screening population of 9 million in the US, and today’s compliance rate of 48%, we estimate the size of this opportunity can grow to around $3 billion per annum.

InTERCEPT – colorectal cancer diagnosis

A solution to non-invasively detect colon cancer. Colon cancer is the second most common cause of death from cancer and is one of our priority medical applications. The global economic burden is estimated to be $99 billion. 5-year survival rates of 93% are achievable through early diagnosis. Currently only 8% of the US’s 89m screening population are tested: existing fecal screening methods underserve the market. Based on a recommended screening interval and an increase in today’s compliance rate (to be expected when colonoscopy is replaced by non-invasive testing) we forecast annual screening test revenues of around $12 billion.

Bowel Prep Adequacy

This is one of a number of near-term medical opportunities which has revenue generating potential in under 2 years. Nearly 14 million colonoscopies are performed in the US annually. 15-25% of these procedures fail or have to be repeated because of inadequate preparation. Owlstone and the Mayo Clinic are running a high-throughput trial analyzing fecal effluent to determine the efficacy, avoiding wasted time and money. Regulatory approval is much simpler than with cancer diagnosis because a positive result simply means the bowel prep is repeated. We estimate the size of this opportunity in the US to be a recurring revenue stream of up to $2 billion per year.

Next Generation Chemical Detector

Owlstone (in partnership with Signature Science) was one of three companies selected by the US Department of Defense to compete to be the contractor for the department’s Next Generation Hand Held Chemical Detector. The program is funding the development of a new family of products capable of detecting a wide variety of chemical warfare agents. Upon completion of the program, purchases of these new NGCD products by the Joint Program Executive Office could be as much as $500M over the coming years and will define military chemical detection solutions for the next decade.

We completed Phase I development in December 2014. The Phase II stage of the program, currently underway, is valued at $4.2m. During this phase Owlstone and its partner will be building a prototype for testing during winter 2015.

Battlefield Chemical Detector

In June 2014, an Owlstone partner placed an initial order for 363 chemical detection units, ultimately destined for delivery to an international military organization. Owlstone has recently completed the delivery of this initial order and is currently negotiating the terms of a follow-on order for 350 units to be delivered in the fourth quarter of 2015. This follow-on order has an anticipated value of $2,170,000. We are currently pursuing several new programs with volume potential in the 1000’s of systems.

Next Generation Explosives Detector

The NGED program is a major new Department of Homeland Security (“DHS”) program. The mandate of the program is to fund the development of a new family of explosive detection products for the U.S. Government which are capable of detecting a wide variety of explosives with great sensitivity. It is estimated that upon completion of the program purchases of these new NGED products will replace current explosive detection systems at airports and government buildings as well as enabling a host of new applications and deployment scenarios.

In March 2014, the NGED program requested short proposals from industry that would address and satisfy these new standards now required by DHS. Owlstone has partnered with United Technologies for this program and has been selected for funding.

Lonestar portable chemical analyzer

Lonestar is a chemical detection system for in-field analysis. Through direct sales and a distributors the system has been deployed by blue-chip clients from the oil & gas, food & beverage and pharmaceutical industries. Applications range from crude oil analysis to process control, health & safety monitoring and flavor monitoring.

 

Management

Executive Officer
Bret Bader

Bret Bader

Bret Bader, Chief Executive Officer:

Over the past 20 years Mr Bader has held several senior management positions with leading manufacturers of security screening equipment and sensor technologies, including EG&G Astrophysics, Heimann Systems and Smiths Detection. Prior to his appointment as CEO of Owlstone Inc. he served as General Manager and Vice President of Smiths Detection, The Americas. Mr Bader joined Owlstone in April 2006.

Director
Andrew Koehl

Andrew Koehl

Andrew Koehl, Co-Founder and President, Products:

Andrew was Owlstone’s founding CEO before moving into his role as President, Products in September 2005. He continues to share responsibility for Owlstone’s day-to-day operations. Andrew is the inventor of the microchip spectrometer technology on which Owlstone has based its business, which he developed while a postgraduate at the University of Cambridge.

Director
David Ruiz Alonso

David Ruiz Alonso

 

David Ruiz-Alonso, Co-Founder and President, Technology:

David put his PhD in superconductor modelling at Cambridge University on hold to co-found Owlstone, where he shares responsibility for day-to-day operations. He grew up in Murcia in Spain, and earned his bachelors and master’s degree in engineering at the Polytechnic University of Valencia, where he took a double major in electronics and communications. He then spent a year as a graduate student at University of California, Berkeley, where he completed his Msc thesis.

Director
Billy Boyle

Billy Boyle

Billy Boyle, Co-Founder and President, Operations:

Since co-founding Owlstone, Billy has been overseeing the development and implementation of the detection technology with nanotechnology foundry partners. He is also active in business development, demonstrating to partners how the Owlstone technology can used to realise a paradigm shift in detection applications and deployment scenarios. Billy is heavily involved in the creation and realisation of new technologies and IP. Prior to joining Owlstone Billy was a Research Associate in the Microsystems and Nanotech group at Cambridge University. In an academic / industry consortium he designed and developed silicon-opto hybrid devices for next generation telecoms systems.

Research & Development
Dr. Ashley Wilks

Dr. Ashley Wilks
Ashley Wilks, Business Development Officer (Technology):

Dr. Wilks joined Owlstone as Chief Systems Officer in May 2005 and soon adopted a lead role in Military and Homeland Security focused development programs. In April 2011 he relocated from Cambridge (UK) to Owlstone’s US headquarters in Norwalk, CT, where he now drives technology-specific Business Development across all sectors. Prior to Owlstone, Ashley worked in Chemical Detection R&D for Smiths Detection, the world’s leading provider of X-ray and Trace Detection equipment. He has 15 years of experience in the development of analytical instrumentation / methodology, across wide-ranging deployment arenas, including; Forensics, Environmental & Biochem / Pharma as well as Defense & Security. Ashley obtained a PhD from the University of Manchester in 2003 and a BSc from the University of Surrey in 1997. He is an avid scientific writer and in addition to his roles at Owlstone, serves as a peer reviewer for two leading analytical

Executive Officer
Thomas P. Finn

Thomas P. Finn

Thomas P. Finn, Chief Financial Officer:

Mr. Finn has over 25 years of experience in accounting, audit and finance. He has held several senior or advisory positions for IBM Corporation, Purdue Pharma and for various start-up companies where he has always focused on improving processes, controls and procedures. Mr. Finn holds a Bachelor of Business Administration in Finance & Economics from the University of Massachusetts at Amherst and a Masters of Business Administration in International Business from Aalto University (formerly Helsinki School of Economics) in Helsinki, Finland. Mr. Finn has worked with Owlstone in various capacities since May 2005 and is responsible for implementing and overseeing the financial functions of the company.

Executive Vice President
Mark Brennan

Mark Brennan

Mark Brennan, Executive Vice President of Homeland Defense:

Mr. Brennan has more than twenty years of experience in the sales and marketing of screening sensors for the detection of explosives, guns and chemical / biological warfare agents. During his career in Homeland security Mr. Brennan has held leadership positions with industry leaders Smiths Detection, Heimann Systems and EG&G Astrophysics. Mr Brennan joined Owlstone in April 2006 to establish the Homeland Detection Business Unit. Mr. Brennan attended Tulane University.

Contact Information:

Executive Officer - Bret Bader

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