Case study (MyBioGate Accelerator)
Project T336 is a photoacoustic tomography technology from an American company, with leading technology for breast cancer screening. Its prototype is in the clinical trial phase in the U.S., and is finding its product-market fit through hospitals in China.
Given the enormous potential of the China market, the company seeks professional cross-border service providers to help it accelerate growth in China.
Goals and Achievements
- Accelerate pre-market circle, find highly-efficient cooperation.
- Quickly raise investment and start-up capital. Raise 50 million RMB ($7.14 million USD); complete the technology transfer and registration, and enter the market within three years.
- Establish operational and marketing teams, find offices and factories, connect clinical resources, establish sales channels, and so forth.
- Obtained 45 million-yuan ($6.43 million USD) investment from the MyBioGate Fund, Jiangsu Industrial Technology Research Institute (JITRI), and Taicang Biomedical Industry Fund.
- The project expected to land in Jiangsu by August 2020, with a 10,000-square-foot. office and factory space.
- Clinical research supported by Grade A hospitals in China.
- Established a professional marketing team for product registration, certification, as well as sales channel establishment.
Set up a project acceleration team
Evaluate and disseminate project core value
China market development strategy & plan consultation, and business plan polishing
Financing and cooperation resources partnering
Tomowave is a US photoacoustic tomography technology company whose leading product is in breast cancer screening. In 2018, the company connected with JITRI for the first time. After two years of project polishing, regular communication & negotiation, and site selection, TomoWave signed their landing agreement with JITRI in December 2020, thereby establishing TomoWave China.