BRASTER to start a medical pilot project in Japan
The producer of a unique device for breast self-examination signed today another agreement with a Japanese partner, the subject of which will be the conduct of a medical pilot project. The subsequent stages of cooperation will include supporting the Company in registration of the device and marketing it in Japan. The key conditions associated with the sales activities will have been signed until the end of September.
The medical research will be conducted in cooperation with prestigious Japanese clinics and will cover 240 women. The parties have agreed that the above-mentioned pilot project is going to be conducted from October 2017 to March 2018. The final report summarizing the education and research processes will have been prepared until June 2018.
"The main coordinator of the medical research in Japan will be professor Koichiro Tsugawa from St. Marianna University School of Medicine in Kawasaki, a renowned specialist in the field of breast tumours in women. The objective of the medical pilot project is going to be a verification of the effectiveness of the Braster System among Asian women. For the Company, Japan may prove to be a very interesting market from the commercial point of view. The Japanese have a significant purchasing power and are open to various technological innovations." – says Marcin Halicki, President of the Management Board of BRASTER S.A.
At the same time, the partner has undertaken to assist in registration of the device and in obtaining all the permits necessary for selling the product and for providing the services in Japan. The agreement also covers the development and introduction of a comprehensive strategy aimed at preparing the Braster device for the Japanese market. The role of the partner will be to generally promote the device and to develop the awareness within the medical community. The detailed conditions of cooperation are going to be specified in the final cooperation agreement, to be signed until 30 September of this year.
Japan is another foreign market where the Braster System will be sold after a medical pilot project is conducted. At the start of the week, the Company signed an agreement with Promed – a leading distributor of medical and dental devices in Ireland, under which the distribution of the device will start in that market no later than in October 2017, after a technical pilot project has been conducted. The Company and the Irish distributor are awaiting the sales at the level of ca. 10,000 devices within three years.
The gained experience in the pilot markets will be used to prepare for an expansion to subsequent markets. Soon, BRASTER is planning to launch more technical pilot projects, among others in the Netherlands and Portugal.
Until the end of this year, the Company is planning to start sales in Great Britain and United Arab Emirates, as well as to begin technical pilot projects in Canada, Brazil and China. The Company submitted an application to the Food and Drug Administration (FDA) for marketing the device in the USA. The application was assessed positively in formal terms, and BRASTER is hoping that a positive decision will be made as early as this year, so as to be able to start the activities aimed at entering that market, characterized by the largest commercial potential.
The Company is planning to enter more markets (Germany, Japan, Korea) in 2018.
Another strategic objective of the Company is to develop a global telemedicine platform. BRASTER would like to offer unique solutions, in the international arena, for two groups of recipients: B2B – by making an advanced telemedicine platform available to other producers of devices or companies offering medical and healthcare services – and B2C – by allowing patients to use online services and medical advice. The vision will be executed through an organic development of the Company and through potential acquisitions. .
BRASTER is planning to obtain funds from stock issue to execute its strategy. The financial needs (including the cost of debuting on the indicated foreign markets, potential acquisitions associated with the potential creation of a telemedicine platform and the current needs of the Company) are specified at PLN 60-70 million.