Nothing warms the cockles of my aged heart like hearing that under 25’s are taking on the monoliths of the endodontic industry……those anti-social networking, pseudo-Lehman Brothers, Goldman Sachs underwear wearing suits who are convinced that market drives science and now they are going to have to SUCK IT UP (hopefully).
From the Business Courier – ITCHING THE TECHNOLOGY
Intellidontic LLC is developing an advanced endodontic file to reduce risks and increase the effectiveness and convenience of a root canal procedure for both the dental professional and the patient.
PITCHING THE PEOPLE
Who are the company’s founders?
re they before your company? Intellidontic is a startup dental device development company and is a wholly owned subsidiary of Inven LLC. Founders Alex Frommeyer, Alex Curry, Joe Schab and Dan Dykes are Northern Kentucky natives and graduates of the University of Louisville‘s Speed School of Engineering.
The Intellidontic team has strong experience in complex medical devices,engineering and product development. The individuals have worked on development teams to commercialize a laparoscopic surgery trocar and a proprietary electronics system for a spinal fusion diagnostic system.
Who is on the management team? The company’s founders
Have executives been involved in a cashout prior to this venture? No
Who is on the board of advisers? Where were they before your company? The advisory board consists of Dr. Joe Morelli, a diplomat on the American Board of Endodontics and professor at the University of Louisville School of Dentistry, as well as other respected dental professionals. Patent attorney Steve Hall and experts in accounting, business acquisition and manufacturing are also contributors to product development.
PITCHING THE BUSINESS
How much money are you seeking? Intellidontic is seeking seed funding of $250,000 during the first quarter of 2011.
What partnerships, collaborations or affiliations are already in place? Intellidontic is a client company of the Northern Kentucky E-Zone, a division of Northern Kentucky Tri-County Economic Development Corp. The team has built partnerships with world-class contract manufacturers and is in early stage discussions with potential distribution partners.
List any federal or state grants, contracts or awards received: To date, Intellidontic has received $40,000 is grants and awards, winning the Northern Kentucky Commercialization Award in the Cincinnati Innovates Contest in September and earning the Kentucky Enterprise Fund grant administered by the Kentucky Science and Technology Corp.
What’s the market size being pursued? According to the American Association of Endodontics, more than 24 million root canals are performed each year in the U.S. alone, where an average of eight to 10 endodontic files are used per procedure. The target market is young endodontists and general practice dentists who perform root canals infrequently.
Who are the likely competitors, direct or indirect? Direct competitors will include endodontic dental product manufacturers such as Tulsa Dental, Sybron Endo and Henry Schein.
Read more: Intellidontic developing new device for dreaded root canal | Business Courier