Cybiocare (sigh-bee-oh-care) was founded in 2001 with the mission to improve quality of life for millions of people around the world by developing, manufacturing and marketing non-invasive photonic medical devices to accurately measure a full range of clinical states including heart beat, blood perfusion, oximetry, hydration and relative glucose trend, as well as tissue temperature and humidity, with an initial focus on the burgeoning market for diabetes control. Cybiocare medical devices are designed for portable monitoring and point-of-care testing at home or in research, clinical, hospital and even sports settings.

The rising global diabetes pandemic
“ Diabetes is a chronic and incurable condition, which requires permanent treatment and the active participation of the affected person. It is now affecting more than 150 million people worldwide and predicted to rise to 300 million by 2025.”

• María L de Alva, President, International Diabetes Federation

Cybiocare’s initial focus in on one of the largest and fastest growing markets in the healthcare sector: diabetes control. Today, tens of millions of diabetics measure their blood glucose using conventional glucose meters that analyze small droplets of blood extracted with lancets from fingers or forearms.

Non-invasive glucose sensing technologies have been experimented with over the past decade but the prospect of measuring actual blood glucose non-invasively is still only a distant hope. The Cybiocare OHD is generating very strong interest among diabetics now because of its achievable goal of being an effective warning device for impending hypoglycemia.

Market

The worldwide market for glucose control was estimated at US$4.5 billion for 2000 and US$5.9 billion for 2002 with no end of growth in sight. (Source: The Technology Revolution in Diabetes Care, published by Volpe Brown Whelan & Company.) The main products sold in this market are finger test strips for conventional glucose meters. Cybiocare is currently exploring a number of strategic alliances with leading manufacturers of test strips and glucose meters.

A growing market with unlimited potential

• 16 million diabetics in the US with an additional 6 million still undiagnosed
• Approximately 8% of diagnosed diabetics are Type 1
  (more than 800,000 in the US alone)
• Over 150 million diabetics worldwide with approximately 10 million Type 1 cases
• The World Health Organization estimates over 300 million diabetics by 2025

Technology and Products

An annual market of $US300 million
The estimated market for products like the Cybiocare Optical Hypoglycemia Detector is on the order of 5 million units. The total sales are then calculated at US$3 billion, representing annual sales of some US$300 million.

Hypoglycemia, caused by hyperinsulinism (an excess of insulin) is a real concern of diabetics. The more intensive one’s therapy, the more danger there is of hypoglycemia. A diabetic being treated with intensive therapy (4 injections and glucose tests per day) is more than 3 times as likely to experience severe hypoglycemia than a diabetic being treated with conventional therapy (2 injections and glucose tests per day).

Symptoms of hypoglycemia include weakness, shakiness, nervousness, anxiety and dizziness. Patients also may show marked personality changes and may seem intoxicated. In severe cases, they can lose consciousness and even lapse into a coma. What makes it even more difficult is that hypoglycemia itself can make the patient unaware of symptoms just when counter-regulatory hormonal response is most essential. All of which makes a permanent warning device like the Cybiocare Optical Hypoglycemia Detector a real boon to diabetics.

Cybiocare’s strategy is to position the OHD as a warning device against any competitive goal of developing non-invasive glucose meters. Cybiocare technology also provides many other advantages:

• The Cybiocare OHD is designed as a complement to – and not a replacement for – existing glucose meters.
• The technology challenge is achievable since the required accuracy is considerably less than for a non-invasive glucose meter and over a dramatically shorter period of time because of Cybiocare’s relative approach.
• Cybiocare’s inherently non-invasive OHD design is easier and faster for getting approval from regulatory bodies.
• The fundamentals of optical diffuse reflectance measurement in tissue are clearly demonstrated in scientific literature.

Intellectual property
Cybiocare’s Optical Hypoglycemia Detector is based on fundamental technology for optical diffuse reflectance measurement in tissue. The company is now in the process of filing a number of patents to cover the many unique aspects of the OHD design.

Management Team

Michel Bédard, Eng., Dipl. B. Adm.
CEO, Founder
Mr. Bédard is a technology entrepreneur that has more that 17 years experience in the field of photonic measurement instruments. Mr. Bédard has co-founded Nortech Fibronic in 1991, a leading fiberoptic sensor and test equipment company (now part of EXFO). As a Vice President of Research and Development and CEO for Nortech, Mr. Bédard led the development of innovative photonic instruments and entered into many OEM agreements with world leading companies such has WWG (now part of Ideal Industries), Microtest (now part of Fluke Networks), and in the field of medical devices, Urologix. From 1988 to 1991, he was Project Engineer at EXFO, a leading manufacturer of fiberoptic test equipments. Mr. Bédard holds a Bachelor’s Degree in Electrical Engineering and a Graduate Diploma in Business Administration from Université Laval. Mr. Bédard is a member of the Ordre des ingénieurs du Québec since 1988. He won the Quebec Entrepreneur Award in 1991 for the best business plan and was President of the Québec Optics and Photonics Association from 1999 to 2001.

Dany Nolet, Eng., MS Proj. Mgmt
VP Research & Development
Mr. Nolet is an industry professional with more that 16 years of experience in engineering, management of research and development and product marketing. Mr. Nolet was Director of Research and Development and Product Marketing Manager at Nortech Fibronic, a leading fiberoptic sensors and test equipment company (now part of EXFO). Its responsibilities have included the development of handheld photonic devices, including OEM products for Microtest (now part of Fluke Networks) and WWG (now part of Ideal Industries). He was also responsible for risk analysis activities for Nortech’s OEM sensor incorporated in a class III medical device. From 1990 to 1996, he designed high-reliability electronic systems for a supplier of mass transit systems to Bombardier with end customers such as NYCTA, MBTA and NJ Transit authorities. Mr. Nolet holds a Bachelor’s Degree in Electrical Engineering from Université Laval and a Masters Degree in Project Management from Université du Québec à Trois-Rivières. Mr. Nolet is a member of the Ordre des ingénieurs du Québec since 1990.

Partners

The company is also exploring a number of strategic alliances and partnerships with leading players in global healthcare to commercialize its product line.