Innovation & Business Idea
The digital therapy that Mindpax developed and proved on clinical data with 300 bipolar patients monitored for 18 months is based on digital phenotyping structuring the patients' cohort, digital biomarkers describing disease development and alert system providing information on the relapse occurrence. All these continuously and long-term calculated information is based on the behavioral and movement data collected by own monitoring system.
Customers / Target Market
There are three groups of customers
- Health insurance companies (Mindpax is in active communication with health insurance companies on the German market and have been recently selected for Health-i Award by the biggest Techniker Krankenkasse). The main point is decreasing total costs related to hospitalizations that usually arise from a non-identified relapse of the disease.
- Pharmaceutical companies (Mindpax has recently joined JLABS incubator of Janssen).
- Telemedical companies (continuously supporting mental health patients with information on the disease development and alert system - Mindpax is in contact with Pinel Netzwerk in Berlin and is actively looking for telemedicine partners supporting psychiatric patients). The main point is to allow contact to patients when an alert is issued and thus allowing care for more patients.
There are two potential competitors in the US - Mindstrong and Pear Therapeutics. Mindstrong is building models on big data collected from mobile phone usage to understand whether the user is a potential mental health patient. Pear Therapeutics focuses on digital prescription therapy for diagnosed patients. Therefore, we believe that while these companies are competing in a certain view, they can also be viewed as complementary solutions.
Intellectual Property Status
Mindpax has European patent pending for the monitoring system (EP 17181640.8 / 3430978). On top of this, we are now preparing the submission of a patent for the digital therapy. The application would happen in March 2019.
Development Status & Future Steps
Currently, we have been able to develop a continuous monitoring system that is capable of visualisation of behavioral and activity/sleep relevant data and also issuing relaps related alerts to physicians. We are now starting the clinical trial for schizophrenia with the Charité in March 2019. Next step includes the medical certification (for monitoring system CE Class I., for the comprehensive therapy including relapses CE Class IIa). The monitoring system is now compliant with ISO and GDPR standards and CE I. certification would proceed after notified body recommendation (TÜV Rheinland).
- The pharmaceutical company, looking for digital support of an existing medical therapy.
- Medical device company/progressive pharmaceutical company, looking for mental health prevention/diagnostic tool as stand-alone solution or solution to be included in its existing long-term monitoring system.
- Full reimbursement scheme, self-financed system development.
Dr. Med. Filip Spaniel, Ph.D., an experienced psychiatrist specializing in severe mental health diseases, author of first digital monitoring alert system for Schizophrenia in Europe.
Dr. Daniel Novak, Ph.D., an experienced data scientist that developed algorithms for biosignals processing, among others built the algorithm allowing blind people to use touch mobile phones.
Pavel Nevicky, MBA, the internationally experienced project manager that successfully co-founded a management consulting company and runs the operations of Mindpax.
Sona Sikorova, MBA, the internationally experienced finance professional. Sona manages finance of Mindpax.
Mindpax now raises € 3 M, out of which currently confirmed is € 1.25 M in the signed term sheet. Soft commitment from other investors totals to € 0.75 M.