BTM
Regulatory Approvals
1. USA FDA 510(k) achieved o USA Surgical Wounds approval Dec 2015
Currently discussing US/Canada distribution with a few interested parties - Under NDA
Future geography rights negotiated as Regulatory approvals achieved
2. Europe CE Mark anticipated late 2017
Anticipating Europe Sales end 2018
We will negotiate geographic licencing rights
3. South East , Australia, New Zealand & India end 2017 with CE Mark
BTM other regions
Mapped several markets where the US 510(k) can be used to facilitate market entry. Currently in the process of building those dossiers and looking at prospective commercial partners.
NovoPore
Have US & EU Regulatory approvals
Currently in discussion with an interested wound care multinational
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So an 800 million dollar market for BTM and a 2 billion market opportunity for NovoPore
estimating a 25% capture. Is Novopore expected to get to market this year?
The reason I'm trying to figure out likely margins is the rising shareprice. Are we close to news or is the market waking up to the fact we could possibly be seeing a bottom line on Novopore alone of hundreds of millions of dollars. Cheap to make, transport and store. Would love to know more on likely margins.
SRX for instance operates on a p/ebit of approx 40.
If, for instance, PNV had a 20% margin on Novopore and achieved 25% market penetration this would
deliver a bottom line of 100 million and on a p/ebit of 40 (quite plausible for a medical growth stock and the same as SRX) a market cap of 4 billion for this sector alone. Or a share price of 7 or8 dollars. If margins were higher, well you can see where this is going....I'm wondering if I've been underestimating the potential here.
I know all this would take time but i'm expecting an accelerated adoption because its a disruptive product. Don't the Yanks have a law that doctors have to use the best treatment? That could get interesting.
Anyway I know I don't have to ask but if anyone can slice and dice my thinking, please do.
(20min delay)