Illuminaria LLC
Illuminaria is targeting the rapid and portable detection/analysis of DNA using its featured product, the nano DETECT. This system utilizes nanotechnology to perform automated sample purification, DNA purification and diagnostic real-time PCR in a hand-held device.
Target Market
There is a growing market for such portable diagnostic instruments, as evidenced by sharp increases in U.S. Governmental funding in this arena. The U.S. Department of Homeland Security has a budget of $40.2 billion for the FY 2005, of which $2.5 billion is specifically allocated to bio-defense countermeasures. The National Institute of Justice’s Consolidated Appropriations Act allocated $100 million towards forensic DNA testing, while the USDA and FDA allocated a combined $1 billion for Food Safety/Defense (1). In addition to Governmental funding, industries that use laboratory testing to detect pathogenic bacteria, viruses, and other disease-causing agents have a need for rapid and accurate results. Devices that incorporate multiple laboratory processes into a semi-automated, miniaturized format can meet this need.
Company Product
Illuminaria’s nanoDETECT is capable of performing diagnostic tests in a rapid, miniaturized format. By automating the complicated features of current diagnostic techniques, the product should greatly simplify the diagnostics procedure. The nanoDETECT can identify biowarfare agents such as Anthrax, food pathogens such as E. coli and Listeria, as well as human DNA sequences used in forensic DNA-based testing. The entire detection process, from automated sample preparation to results, takes less than 60 minutes to complete.
Business Strategy
Illuminaria plans to target the Food Industry and its regulatory agencies (USDA/FDA) for initial sales of the nanoDETECT system. This arena is currently being overlooked by competing technologies and therefore is an ideal target for introduction of the nanoDETECT. Illuminaria will use a razor/razor blade model for it products. The target price for the instrument is $20,000 which is comparable to the price of competing products. In addition to one-time sales, Illuminaria will also seek recurring income in the form of consumables.
The nanoDETECT instrument requires disposable detection microchips as well as biochemical reagents that will be sold as consumable items. The target price for a single test (including the cost of consumables) is $5.
Intellectual Property
Illuminaria, LLC currently has an exclusive licensing agreement with Cornell University for the technology encompassed by the nanoDETECT system. This includes a patent for the technology.
Finance
Illuminaria has demonstrated interest in this technology by securing a Phase I SBIR grant from the USDA for development of the nanoDETECT system. Illuminaria is currently seeking $800,000 to further develop this technology, bringing it from the bread-board phase into a fully-functional, hand-held detection system. We project a profit by year 2009.
