First Choice Bio, Inc.
Postal Address: P.O. Box 1606, Benicia, CA, 94510-4606
Company Contact: Johannes (Jan) M. Breukers
Phone: +1-707-333-0902
Company website: https://www.firstchoicebio.com
Sales channel: https://www.quickcells.com
Investor Pitch Deck: https://www.quickcells.net (you are here!)
Email: info@firstchoicebio.com
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Executive Summary:
First Choice Bio, Inc. is a revenue generating, globally recognized “Customer Comes First” startup company based in the San Francisco Bay-Area. Our unique goal is to “Serve and Empower the Discovery and Pre-Clinical Research Community” by providing biotech, pharmaceutical, life science, precision medicine, MedTech, academic and governmental research institutions with SMART human primary cell samples. We collect and provide Whole Blood and/or Bone Marrow samples from a diverse population of human donors.
Our ability to screen a sample, prior to procurement, for over 150 biomarkers or disease indicators, and the potential application of 2 patents to collection and processing is creating a SMART sample, supported by data, which will set us apart.
Our SMART samples will improve the reproducibility and translation rates for our Customers / Researchers, thus bridging the gap that is called the “Valley of Death” for Discovery and Preclinical research, currently with some 80% failure rates.
We also can deliver fresh products within 24 hours anywhere in the world*. Think of the First Choice Bio service as a global concierge service** by our in-house courier company!
*That’s correct: Within 24 hours anywhere in the world within reasonable distance from a major airport.
**Concierge service as in one courier-one package, whether 12 or 12,000 miles away.
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Value Proposition:
More variety amongst donors, Faster Turnaround Time, Cost Effective Product, Highly Reliable Samples and above all Scientifically approached Screening of Samples and Supporting Clinical Data.
Consistent with our mission “to help researchers globally find cures for all diseases and ultimately improve longevity and quality of life for mankind”.
We are laser focused on delivering consistent, reliable, highest quality products including the resale and distribution of non-human products, diseased human products and a brand-new line of products, stem cells derived from human maternal milk, for which we have exclusive global representation and sales rights obtained.
Because not only an increase in demand (10% globally, 12% in the US, annually) but also a change in demand for samples from young people to cell samples from (general population) people with different ethnic backgrounds, like Black, Indigenous and People of Color (BIPOC) more than one pivot is necessary to attract more and more diverse donors. And to achieve this, and consequently contribute to higher reproducibility rates and Translation from preclinical into Clinical Phase I, First Choice Bio has already identified a suitable facility in Hayward, CA.
That, and the presence of Silicon Valley which will help with implementing A.I. as a tool to achieve efficiency, progress and effectiveness will make us stand out!
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Market Opportunity:
The highly lucrative market we are pursuing is an unquenchable, recession-proof market that has doubled in size within 9 years and is growing at an annual rate of ~10% globally, and for the US 12% annually, while supply channels have not been able to keep up. Consequently, Customers are dealing with major shortages and reliability in supply and therefore a lack of reproducibility that in turn hinders their success to translate from Discovery into Preclinical into clinical phase I. This is costing research 35+ Billion dollars in wasted resources in 2023 in the US alone, and globally 80+Billion on an annual basis!
For freshly harvested primary cell samples with a very limited shelf-life, the San Francisco Bay Area and the US are our immediate focus and most accessible market. For frozen research material the whole of the United States and the rest of the world will be our market, as supply shortages are global in nature.
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Revenue Traction:
Thus far and despite lacking reliable and consistent supply of the goods needed by our Customers we have acquired 130+ Customers generating ~$600,000 in revenue since company inception as a distributor. Gilead Sciences, CureLine, Beckman Coulter, Stanford Health, Stanford University, Regeneron, VWR, Bio-Rad and UCSF are amongst some of our well-known clients. Furthermore many of our connections cannot wait until we are up and running as suppliers ourselves. But also because of that same reason, unreliable supply, we had to stop distribution altogether. For us it became unsustainable, being constantly caught between 2 parties. Now, as an independent, stealth-mode startup, we have received already over 2.5 Million dollars' worth of RfQs (Requests for Quote).
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Pivotal Milestone:
Addressing Population Diversity (BIPOC) and Sample Shortages head on is an important factor for obtaining the highly desired cell sample variety. To achieve this, First Choice Bio plans to set up fully accredited collection centers in Low- & Medium-Income neighborhoods, where people are willing to come and donate, on a voluntary basis, but against a meaningful, more generous financial compensation, where money and easy access to it are the unremitting motivators. The Red Cross, not compensating donors financially, knows that conscientious donors are far and between.
Timeline: We are dedicated to establishing and launching First Choice Bio, Inc’s first collection center within 3 to 6 months after securing the needed funding.
HR Planning: We are in late-stage negotiations with talented and very experienced personnel to hire (some ex-colleagues have already signed LOI’s) for operation of the first collection center and laboratory.
Commercialization Tasks: (i) Set up a local healthy or "normal" donor database, (ii) Keep looking for collaboration and strategic partnership opportunities.
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Product Pipeline & Commercial Channels:
We have established Quickcells.com, Inc (a Delaware “C” Corporation entity fully owned by First Choice Bio, Inc.) as a direct marketing and e-commerce sales channel to acquire clients globally.
We have collaborations established with a well-known east coast university hospital groups’ biorepository that we have exclusive access to for their diseased human research material. We are also working on the collaboration that provides us access to >1Million disease state donors, here in the US. And as mentioned we now have a unique and exclusive GLOBAL representation and sales agreement for a human maternal milk product-line, that will completely replace the hard to procure cord blood. Once the funding for the SF Bay Area collection center is established, we will start looking for other biotech hubs on the North American continent, Europe and/or Asia, to set up collection centers, where possibly viable.
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Competition in the SF Bay Area:
AllCells located in Alameda, CA which was acquired by Discovery Life Sciences in 2022, is historically our biggest competitor. However they have abandoned serving the pre-clinical research market and are entirely focused of serving the clinical marketplace, making their products now too expensive for Discovery and Preclinical, but also for startups and academic research groups especially. They also stopped collecting whole blood all-together. AllCells used to be the employer for most of us. Our second biggest competitor is PPA TN in Berkeley, CA which was acquired by BioIVT in 2019/2020, and now operating under the name BSC. BSC used to be one of our suppliers. Canventa Life Sciences, Emeryville, CA is a third competitor and 100% owned by Stemcell Technologies.
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Financial Projections (Unaudited):
Year-on-Year Growth for global Contract Research (CRO) market is ~10%.(US 12%) annually.
No reliable data were available on non-CRO preclinical research.
The global market for preclinical CRO research samples (TAM) is: $60+B by 2031.
The size of the US market is ~45% of the total global market.
The sizable available market (SAM) for our first collection center in the SF Bay Area is ~11% of US Market.
We believe to have an opportunity to seize $750M or more of this Sizable Obtainable Market by 2031 (7 years) in the SF Bay Area alone, based on smart sample pricing.
We have assumed a smart cell product price of 1.25 times the price for normal material, but the price for screened cell (smart) sample products may ultimately become double that of unscreened product.
4-Year revenue projections, for one single collection center:
Year 1 ($2.2M), Year 2 ($6M), Year 3 ($27M), Year 4 ($225M)
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The Ask:
We are seeking $5M seed funding on SAFE notes.
Use of funding, slightly depending on available real estate:
Equipment …………………………………………………..($850,000)
Operating Expenses …………………………………… ($1,250,000)
A.I. Set-up and Deployment for Global Integration.......($1,000,000)
Real Estate & Lease………………………………………. ($400,000)
Marketing, Sales and Expansionary Budget...................(1,500,000)
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Industries that we Supply:
X Pharmaceutical R&D
X Biotech Research
X Medical Device Research
X MedTech Research
X Diagnostic Research
X Life Sciences Pre-Clinical Research
X Precision Medicine Research
X Governmental Research
X Academic Research
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Management:
· Executive Leadership:
Jan Breukers - Founder - CEO & Logistics;
Kamran Tahamtanzadeh – Founder -- Business Development;
Sam Vasilevsky, Ph.D. - Medical Director – Founder & COO
· Board of Directors:
Jan Breukers
Kamran Tahamtanzadeh
Sam Vasilevsky, PhD
· Scientific Advisory Board:
Baback Alizadeh, Ph.D. CEO @ Chapter Dx
Michelle Cunningham, CEO @ STEMilk
David White, CEO @ David White Consulting
Number of Employees: <10
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Finance:
· Current Investors / Financing:
The company has already received $150,000 in pre-seed investment from JumpStart Foundry
(SAFE note)
FFF, Founders, Friends and Family: ~$1,250,000
. We are seeking to close on this seed round of $5M by end of Q4 2024. Post-money valuation of
USD $25 M.
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Advice:
· SBDC, Small Business Development Center, Northern California
· Small Business Minority
· JSF, JumpStart Foundry, Nashville, Tennessee
Legal:
· The Corporate Law Group, Palo Alto, CA
