• winning the government tender on glucose sensors and related expandable materials at least in 50% of subjects of Russian Federation within first two years;
• getting the leading market position (market share in monetary terms) in Saint-Petersburg and Moscow among glucose sensor market among people with 1st type diabetes within the first year.
The PESTel and SWOT analyses carried out showed that the most appropriate entry mode would be licensing, with manufacturing all the parts of the product in Russia except for the main technologically advanced detail – sensor itself, which would be imported from Canada. The other significant conclusions showed the importance of working not only on b2c market, but also on b2g market. Then the marketing mix was developed with several considerable adjustments.
Cybiocare was founded in 2001, Quebec, Canada. The company specializes in development, and manufacturing and marketing of non-invasive photonic medical devices for diabetes control. Its products are used to measure a range of clinical states, including heart beat, blood perfusion, oximetry, hydration, and relative glucose trend, as well as tissue temperature and humidity. The company’s photonic medical devices are designed for portable monitoring and point-of-care testing at home or in research, clinical, hospital, and sports settings. Today its flagship product is Photonic Glucose Sensor, a product which allows measuring sugar level without any blood testing. It has not yet been patented neither in Canada nor in other countries, but it is on the antecedent stage of investigational testing to assess the safety and efficacy of this device.
Investigating new opportunities, Cybiocare, Inc is always sticking to the mission developed, which is:
According to this mission, Cybiocare should internationalize its operations as fast and as far as it is possible. It is also necessary to get the PGS patented in many countries as fast as possible to be quicker than competitors, which can copy the technology by exploring the end product, which will appear first in Canadian market.
In short-run aims of Cybiocare nowadays are:
In long run the company, according to its mission, will search for new perspective markets to enter.
Cybiocare is headed by Michel Bedard, a technology entrepreneur with more than 20 years experience in photonic measurement instruments, who is the Chief Executive Officer. The knowledge and capabilities of company are also highly advanced by experience and expertise of other team members, for example, Dr. Jean-Louis Chiasson, Principal Investigator, who is also Head of the Research Group on Diabetes and Metabolic Regulation; Jean-Pierre Desmarais, Regulatory Affairs Advisor, who is a seasoned executive with over 30 years experience in the medical device industry; Dr. Pavel Hamet, Scientific Committee Chairman, having PhD in Experimental Medicine who is Chief of Genetic Medicine Services, a member of Endocrinology Services and the Director of the Laboratory of Molecular Medicine in Hospitalier de l’Université de Montréal (CHUM).
Cybiocare, Inc is well-supported in financial and research and development facilities terms by INO, of which Cybiocare is a spin-off. INO is the largest Canadian center of expertise in optics and photonics, which possesses a variety of technologies and processes and represent unique business opportunities for companies wishing to commercialize their inventions.
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