Rheonix CEO Greg Galvin (above right). Example of Rheonix technology, a chip for HPV diagnosis. Image sources: rheonix.com, pddnet.com
Thanks to Andy Golden of Daktari Diagnostics for spotting this great interview in the MEMS Investor Journal with Dr. Greg Galvin, CEO and founder of Rheonix. Rheonix is developing microfluidic molecular diagnostics for a variety of clinical and other applications. In this interview we see a few themes that have been popping up all over:
Emphasis on low-cost materials (in this case, injection-molded polystyrene)
Simultaneous pursuit of markets in both developed and emerging markets (e.g., China) for additional revenue
Importance of understanding the market well, not just the technology
A few quotes:
Although several firms such as Fluidigm, Becton Dickinson’s HandyLab and Cephied have products in the field, our most significant competitive differentiation is in the cost of goods sold for both the disposable device and the instrumentation. These companies cannot match our costs largely due to the fundamental design of their disposable components; essentially, they have many different discrete components and our chips are completely integrated on one substrate. Having the ability to produce the disposable device by inexpensive plastic injection-molding methods, we plan to offer a wide breadth of products that will have a cost of goods in the sub-US$1 range.
While most of the competitive products have some degree of pre-analytical processing, we are capable of introducing true raw samples and achieving fully automated results, regardless of the assays’ complexity.
Lessons learned: Focus less on technology and more on the customers and their specific needs; get product to the market sooner rather than later even if it is not perfect; invest in the sales organization sooner rather than later; and never underestimate the competition.