First Choice Bio, Inc. collects and supplies Whole Blood, Bone Marrow, Leukopaks and Isolated Primary Cell Products obtained from Diverse Populations of Healthy Human Donors for Pre-Clinical Researchers within the Broader Life Sciences Industry.
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://quickcells.net
Email: info@firstchoicebio.com
Executive Summary: _____________________________________________________________ First Choice Bio, Inc. is a PRE-revenue, yet already globally recognized “Customer Comes First” startup company based in the San Francisco Bay-Area. Our unique goal is to “Serve and Empower the Pre-Clinical Research Community” by providing Biotech, Pharmaceutical, Life Science, Precision Medicine, MedTech, Academic and Governmental Research Institutions with research samples, donated by healthy human donors. Our ability to screen a sample, prior to procurement, for over 150 biomarkers or disease indicators, and the application of (for now) 2 patents is creating a SMART sample, supported by data, which will set us apart. These SMART samples will improve the reproducibility and translation rates for our Customers, currently with some 80% failure rates.
Value Proposition: _______________________________________________________________ More Donor Diversity, Faster Turnaround Time, AI Efficiency throughout, Highly Reliable Samples and above all Scientifically approached Screening of Samples, with AI Generated and Predictive AI Data, available Prior to Procurement. Consistent with our mission “to help researchers globally find cures for all diseases and ultimately improve longevity and quality of life for mankind”. By means of collaborations we also have access to non-human and disease-state human products, and a brand-new line of products derived from human maternal milk, for which we have exclusive global representation and sales rights obtained. We will pivot towards LMI (Low & Medium Income) as well as (BIPOC) Black, Indigenous and People of Color neighborhoods to attract more diverse and more donors. We are also collaborating to provide our Customers with additional laboratory services. And First Choice Bio has already identified a suitable facility in Hayward, CA.
Market Opportunity: ______________________________________________________________ The highly lucrative biotech supply market is an unquenchable, recession-proof market that has doubled in size within 9 years and is growing at an annual rate of ~10% globally (12% in the US), while supply channels have not been able to keep up. Consequently, Customers are dealing with major shortages and concessions regarding supply and therefore a lack of reproducibility and translation from preclinical into clinical phase I. This has been costing preclinical research ~35 Billion dollars in wasted resources in 2024 in the US alone, and ~80 Billion globally!
Revenue Traction: _______________________________________________________________ As a stealth-mode startup, and despite lacking any supply, we have acquired 130+ Customers generating over $2.75 Billion in RfQ’s since company inception (05/2023). As distributors, Gilead Sciences, CureLine, Beckman Coulter, Stanford Health, Stanford University, Regeneron, VWR, Bio-Rad and UCSF were amongst some of our established clients. With over 600K in sales, product reliability made Distribution unsustainable for us. Many of our connections cannot wait until we are up and running as suppliers ourselves. Our transparency was much appreciated in an overpromising and underdelivering industry.
Pivotal Milestones: ______________________________________________________________ Addressing Donor Diversity and Sample Shortages head on and financial reimbursements here are the unremitting motivator. The Red Cross, not compensating donors financially, knows that conscientious donors are far and between. No donors, no products, no sales! Timeline: We are dedicated to establishing and launching First Choice Bio, Inc’s first collection center within 3 to 6 months after securing seed-round funding. HR Planning: We are in late-stage negotiations with very talented and experienced (15+years) personnel (ex-colleagues of ours) to hire (some LOI’s signed) for operations. Commercialization Tasks: (i) Set up a local donor database, (ii) Set up a collection center and laboratory for cell specific services, (iii) Collaborate in the name of all Customers to provide additional services. Global Expansion: Once funding for the SF Bay Area 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.
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 ecommerce sales channel to acquire clients globally. Collaborations are always important to us as part of Customer Services. Exclusive Access and GLOBAL representation rights to the maternal milk product line may completely replace the difficult-to-procure cord blood product lines.
Competition in the 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 whole blood collections and are now entirely focused on serving the clinical marketplace, making their products too expensive for startups and academic research groups. AllCells used to be the employer for most of us. Our second biggest competitor is PPA, Berkeley, CA which was acquired by BioIVT in 2020, and now operating under the name BSC. BSC used to be one of our suppliers. Canventa Life Sciences, Emeryville, CA is the third competitor and 100% owned by Stemcell Technologies Inc.
Financial Projections (Unaudited): ________________________________________________ Year-over-Year Growth for Contract Research (CRO) market is ~10%. No reliable data were available on non-CRO preclinical research. The global market for preclinical 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 is therefore ~US$28B. We conservatively believe to have an opportunity to seize a minimum of $100M of the Sizable Obtainable Market of ~US$3B by 2031 in the SF Bay Area alone.
4-Year very conservative (and revisited) revenue projections, for one single collection center:
Year 1 ($1.5M), Year 2 ($6M), Year 3 ($18M), Year 4 ($59M).
The Ask: ________________________________________________________________________ We are seeking $5M seed funding on Convertible Notes; 15% Discount; 6% Interest; 2 Year Term; Convertible upon Valuation of the next round! Use of funds, slightly depending on available real estate:
Equipment …………………………………………………….($850,000)
Global AI Integration…………………………......…………..($1,000,000)
Marketing, Sales & Expansionary Budget……..........…….($1,500,000)
Operating Expenses …………………..……….....…………($1,250,000)
Real Estate & Lease…………………….…………………. ($400,000)
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Management:
• Executive Leadership: Jan Breukers - Founder - CEO & Logistics.
Kamran Tahamtanzadeh – Founder -- Business Development & Collaborations.
Sam Vasilevsky, Ph.D. -Founder – COO - Medical Director
• Board of Directors: Jan Breukers, Kamran Tahamtanzadeh
• Scientific Advisory Board: Baback Alizadeh, Ph.D. (ChapterDx); Michelle Cunningham (STEMilk); David White (David White Consulting); Tim Kapp (Cinco.ai)
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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
