IQ is seeking capital to commercialize the first photochromic contact lenses, which will allow the lenses to change opacity in response to UV light exposure. The technology is patented. The startup aims to gain a 0.5% market share in the US contact lens market within 5 years, projecting $20 million in exit value. Clinical trials will evaluate the lenses' performance.

1. R e d e f i n i n g p r o t e c t i v e e y e w e a r.

2. IQ is...
• a start up medical device firm in the field of corrective
lenses.
• seeking exclusive rights to manufacture and commercialize
the first ever photochromic contact lenses.
• seeking capital to expand operations.
A new solution to an old problem will allow to
change the way we see world.

3. Value Proposition
P/E (Large) 17‐70
P/E (New/small) 10
P/E (Medium) 25
10x Return
5 Years
$2.0M investment
58.5% Internal Rate of
Return
$20M
Projected
EXIT
RETURN

4. The Technology
First ever method for production and design of photochromic contact lenses

5. Product Differentiation

6. Intellectual Property
INVENTORS: Edwin Chow and Jackie Ying (Singapore)
PATENTED in the United States of America:
• polymeric material
• manufacturing process
IBN Seeking Corporate Partners Overseas:
• license agreement to bring product into
U.S. market

7. Budget allocation
By key expenses
20% Manufacturing Cost ($720K)
29%
Marketing Cost ($970K)
8% Distribution and supply ($100K)
Other Operating Cost and Expenses ($210K)
39%
4% Product Registration and Clinical Study ($510K)
Estimated Total Project Cost: $2.5 million

8. Project Timeline

9. The U.S. Contact Lens Market
23% New York
Los Angeles
Chicago
53% 8%
Houston
8% Philadelphia
4%
4% Others

10. The U.S. Market for Pūr‐VU®
/
YEAR 2: 0.1% OF MARKET SHARE. LA, NY
YEAR 3: 0.2% OF MARKET SHARE. LA, NY, CHICAGO
YEAR 4: 0.3% OF MARKET SHARE. LA, NY, CHICAGO, HOUSTON, PHILIDELPHIA
YEAR 5: 0.5% OF MARKET SHARE. ALL OF UNITED STATES

11. Sales Projections
EXIT
30 0.60%
25 0.50%
Target Market Share (%)
20 0.40%
Total Net Income
(USD in Millions)
15 0.30%
Product Launch
10 0.20%
5 0.10%
0 0.00%
1 2 3 4 5
Year
Market Share
Total Net Income

12. Conclusion
T h e f i rs t e v e r c o r r e c t i v e d a i l y w e a r p h o to c h ro m i c c o nta c t
l e n s m a d e u s i n g n o v e l p ate n t p ro te c te d te c h n o l o g y.
$2.0M investment
10x Return in 5 Years
EXIT $20M
Projected Return

13. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .

14. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .

15. C h a n g i n g t h e w ay yo u s e e t h e w o r l d .

16. Q &A

17. SUPPLEMENTARY SLIDES

18. Regulatory Pathway
Class II Medical Device
Premarket Notification
Application (510K)
Investigational device
exemption application (IDE)
Clinical Performance Study

19. Clinical Performance Study
3 months randomized study
Test Lenses
(Pūr‐VU)
Five Independent
50 Test Subjects
Investigators
Control Lenses
(Predicate Lenses)
Predicate 1‐Day Acuvue (Johnson & Johnson)
Devices Dailies AquaConformt (CIBA Vision)
Soflens Daily Disposable (Bausch & Lomb)

20. Project Overview
Gantt Chart for 24‐Months

21. Investment Return
Calculation

22. Budget allocation
Breakdown by Tranches

23. Budget allocation
Breakdown by Marketing Strategy Phases

24. Competitor Analysis
The Porter Five Model
Substitutes Buyer Power
Medium risk of being substituted High buyer power
Three of the four competitors have substitutes available Bias in prescribing behaviour based on brand
(Vistakon, Inc., CIBA Vision, and Bausch & Lomb). preferences
Supplier Power Potential Entrants
Strong supplier power Low‐Medium Entry Barrier
Pūr-vu contact lenses are two‐in‐one: they provide Medium start‐up cost
vision correction and sun protection Requires licensure of patented and proprietary
Ability to transition in under 20 seconds from technology
transparent to tinted contact lenses, and vice versa
Internal Rivalry
High intensity
Competitors’ products are medicore substitute to Pūr-VU contact lenses.

25. Competitor Analysis
SWOT Analysis
Strength
• Prescription lens – improve vision
• Non prescription lens – everyone can use them Opportunity
• Don’t require additional sun protection – other • Bringing the product to the US market will require
accessories, such as sunglasses are not needed partnership with a large pharmaceutical company
• Specific protection – receive protection depending
on the level of UV light • Once customer base is established, can sell the
• Cost saving – 2‐in‐1 contact lenses act to correct business off a pharmaceutical company
vision and provide UV protection
• Patented technology Threat
• Novel material improved oxygen permeability and
moisture content • Threat of current substitutes in the market
• Entry of other competitors into the market
Weakness • Medical device product life cycles tend to be shorter
• Inadequate sun protection in vehicles – the glass
inside a car may block UV light, and thus the level of
brightness is minimized even though exposure to
UV light is occurring

26. Competitor Analysis
List of Competitors
Competitors Soft Contact Competitive product
Market Share in the
U.S. (2009)
Vistakon , Inc. 46% Acuvue ‐ provide UV protection with
(Johnson & Johnson) absorption of up to 82% of UV‐A radiation,
and up to 97% of UV‐B radiation.17
CIBA Vision 24% Precision UV® ‐ absorbs up to 90% of harmful
(Novartis) UV radiation.18
CooperVision, Inc. 17% ‐
Bausch & Lomb, Inc. 12% ‐
Nike Nike’s MaxSight Contacts – comes in two
‐ shades: grey‐green for sports played in bright
light and amber for sports that are fast
paced.19