Executive Summary


Market

  • About 20% of all MRI examinations are subject to patient movement, costing over $1B/year in rescans across 11,000 MRI machines in North America.

Company Objectives

  • MotionCorrect makes MRI scans simpler and shorter for patients by using a visual tracking system to compensate for movement in real-time.
  • Our platform increases MRI efficiency and effectiveness by allowing the incorporation of cutting-edge scanning sequences.

Value Proposition

  • By increasing image quality, augmenting diagnostic accuracy and reducing re-scans, we improve patient care and throughput.
  • We offer a comprehensive, NIH-patented real-time solution, combining off-the-shelf cameras with tracking and scanning optimization software that interfaces with OEM’s MRI platforms.

Competitive Landscape

  • Our only competitor is at the pre-FDA approval startup stage and provides a single-camera solution with reduced accuracy but simpler setup.

Business Model

  • We are a low cost, highly scalable software system company.
  • Our service agreement provides low entry cost and peace of mind.
  • A capital expense model will also be available.
  • Through future add-ons, we will expand our value proposition beyond motion correction.

Roadmap

  • 2015 and 2016: polish the product, establish alpha sites and begin clinical trials;
  • 2017: submit to FDA and expand beta sites;
  • 2018 and 2019: obtain FDA approval and launch;
  • 2025: reach 20% market share.

Operations

  • Montreal is uniquely suited with its world renowned research centers in neuroimaging. Our R&D team has ties with the Montreal Neurological Institute, Douglas Institute, and l’Unité de Neuroimagerie Fonctionnelle.
  • We will collaborate with clinics specialized in pediatric, geriatric care, and sports medicine, such as Montreal Children’s Hospital, Sainte-Justine, Concordia’s PERFORM.
  • We will work with MRI OEMs to ensure compatibility and ease of integration.

Management

  • Current team composition:
    • MRI R&D;
    • Medicine and clinical care;
    • Real-time robotic vision;
    • Licensing and IP;
    • Forensic accounting;
    • Contract negotiation.
  • Planned expertise:
    • Three full-time developers;
    • One imaging specialist;
    • One clinical research coordinator;
    • FDA approval consulting services.

Financial Summary

  • We are raising $2M to develop and clinically validate our prototype for FDA submission by 2017.
  • Half of the funding will go towards product R&D, while the other half will go towards clinical trials and fulfilling FDA application requirements.