Novel Technology to Treat Obesity & Diabetes
Obesity and Diabetes is over $110 Billion market worldwide. Obesity is the #1 cause of preventable death, it use to be smoking. Now its Obesity. Only a couple of years ago, obesity was declared as a "disease" it use to be considered as a medical condition.
www.onciomed.com
This is not just the problem of the West. 12-14% of China and India's urban population is Obese and Diabetic.
"Onciomed" name is derived from the unit of weight "Ounce" latin derivative is "Oncio"This is not just the problem of the West. 12-14% of China and India's urban population is Obese and Diabetic.
The company was started in 2009, Onciomed raised seed money capital internationally to a tune of $1 Million. Using lean methodology Onciomed run this company lean and has got to a point where generally people spend $5 Mil to get there.They have completed animal work and first in human done. The company has 1 issued patent, 2 more to be issued in the Aug and the company hopes to get as many as 12-20 patents in this space in the next couple of years. Their plan is to exit via strategic acquisition by a bigger corporate player.
The technology is unique, the procedure is a minimally invasive, and reversible technique to treat obesity and diabetes, this technology can be utilized by bariatric surgeons as a stand alone procedure or as an complimentary procedure for the weight loss and diabetic surgery procedure.
Onciomed is now raising $5 M in Series A financing.- use of proceeds will be focused on clinical evaluations which will start to take place in Latin America and Asia and focus is on obtaining the CE mark on the product to commercialize the product in EU and ASIA.
For more information pl contact: Info@onciomed.com
