The MedVector - Telemedicine for Clinical Trials offering is now closed and is no longer accepting investments.

MedVector - Telemedicine for Clinical Trials

Transforming Clinical Trials

MedVector - Telemedicine for Clinical Trials

Transforming Clinical Trials

El Segundo , CA
Biotechnology
Business to Business
MedVector is an industry-first telemedicine platform that greatly accelerates clinical trials. By connecting subjects from anywhere in the world to existing clinical trial sites, MedVector has proven to exponentially increase clinical trial participation and dramatically accelerate FDA approval. Our service generates revenue for doctors and hospitals, reduces costs to clinical trial sponsors, and brings life-changing, advanced medicine to the market more quickly.

$906,238

raised
555
Investors
$10M
Valuation
$1.45
Price per Share
$495.90
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left

$906,238

raised
555
Investors
$10M
Valuation
$1.45
Price per Share
$495.90
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on July 30, 2021 and is no longer accepting investments.

Reasons to Invest

The Clinical Trials Market is currently worth ~$47 billion, with a predicted value of $104 billion based on our extensive research.
We have one of the world's largest clinical trial networks, obtaining access to 7 hospitals consisting of hundreds of thousands of patients per year.
During our case studies with Novartis, our progress greatly excelled against traditional patient recruitment services. In just 7 weeks we were able to do what often takes years.

Overview


Getting advanced medicine to the people who need it, faster

MedVector’s mission is to greatly accelerate the clinical trial process allowing Pharma to save lives, faster. Our proprietary telemedicine platform increases patient access by removing geographic barriers, increases doctor participation by not referring-away, and balances demographics for the FDA.  Now everyone has access to advanced medicine regardless of location or economic status. 


Our plug-and-play technology provides hospitals and private practices all the tools necessary to facilitate clinical trials from anywhere, without the risks or compliance hurdles of running a study. With signed LOIs, hospital partnerships, and one of the largest clinical trial networks, MedVector is ready to launch and transform global medicine.

The Problem


Life-saving medications take too long for approval

Before Pharmaceutical companies can sell or market new drugs to the public, they must conduct a Clinical Trial to get the approval of the FDA.  Clinical trials are notoriously slow due to HIPAA privacy laws, making finding, recruiting, and enrolling patients into clinical studies very difficult. The #1 delay in clinical trials is patient recruitment. While a single patient might only take 6-12 months to complete a study, the average length of a clinical trial is more than 10 years! (source) And the problem is bigger than just finding the patients. Our research concludes the majority of qualified subjects are unattainable due to geography, HIPAA privacy laws, socioeconomic limitations, or doctors and gatekeepers unwilling to refer-away.

Photo by National Cancer Institute on Unsplash

To make the problem worse, the 20 year clock on the medical patent starts with the first subject in a clinical trial.  So, for every day/month/year lost in the clinical trial, is also a day/month/year lost patent protection (profitability) for Pharma.  And these numbers are really big…  For a medication like Humira, based on our calculations, this equates to $1.66 BILLION a month. (source)


At MedVector, we believe greater patient access through telemedicine is the key to faster clinical trials. Our industry-first telemedicine platform for finding, enrolling, and connecting subjects to clinical studies is the solution. With MedVector’s Prime-Control Telemedicine Technology, no subject is too far away or left behind.

The Solution


Finding more patients faster, significantly accelerates the clinical trial timeline

MedVector has created a telemedicine and logistics platform that can unlock access to millions of patients around the world. Access to more patients means faster time-to-market, more FDA approvals, increased diversity in subject groups, and more affordable medications.


MedVector is an industry-first telemedicine platform used to connect far-away subjects to clinical studies (which eliminates geographic limitations). We have created unprecedented patient access by allowing doctors to offer advanced medicine without needing to act as a Principal Investigator (P.I.).

Because the subject is remote, the local doctor and local hospital get paid for all of the medical testing associated with the clinical trial. And, because the clinical trial is most often paid for by Pharma, practices and hospitals are compensated for their services, even for uninsured patients.

The Market


The patient recruitment gap and a $47 billion market that wants to double

The Clinical Trials Market was worth $46.8 billion in 2019 and has exponential growth opportunities. (source)

Based on our research, in 2017, 4 million subjects were needed for clinical trials, but only around 1.8 million were enrolled, approximately leaving a missing ~2.2 million untapped (source). Our accessible technology and reach can address this crucial valley.


Our goal is to fill the approximate 2.2 million subject gap by expanding the supply side of the market to meet the demand. While MedVector is expanding the market rather than competing for current market share, if successful, it will capture some of the current market as well.  

Our Traction


One of the world’s largest clinical trial networks, and growing

To date, we have have access with 7 hospitals and there are 75,000 - 100,000 patients per year at the facilities, which makes us one of the world’s largest clinical trial networks. We have 2 signed LOIs and completed 3 case studies with Novartis. For Novartis, in just 7 weeks, our progress greatly excelled against traditional patient recruitment services that often take years to complete.

Additionally, we are in talks with major CROs and Pharma including Novartis, IQVia, Covance, and Syneos, and we have been selected in Pepperdine’s “Most Fundable Companies" program. 

What We Do


We make  advanced medicine accessible to anyone

MedVector connects patients to studies using HIPAA-compliant video conferencing technology called Telemedicine. This increased access allows for more diverse subject groups, easier FDA approval, and in turn, more affordable medications.

Our remote clinical service eliminates geographic barriers because our plug-and-play telemedicine kit can be drop-shipped to any hospital, private practice, or surgery center. And, for appointments with no medical tests, we’re working on an app for at-home use. Now, anyone can participate in advanced medicine regardless of where they live or economic status. 

Once subject-candidates have been identified, MedVector connects them to approved clinical trial sites, via telemedicine, from the comfort and convenience of their home hospital or doctor’s office. Because these subjects use their local facilities to complete clinical trials, there are no more horrible commutes, and all of the medical tests associated with the study become billable revenue for the local hospital/practice.  

Principal Investigators are responsible for monitoring subjects while staying GCP compliant. This monitoring consists of medical tests (labs, x-rays, MRIs, ECGs, etc.) and audio/visual observations primarily looking for efficacy and side effects. 


Telemedicine allows for the remote monitoring of the audio/visual observations, and the data from larger tests like x-rays are sent to central labs and central radiology centers. What this means is, patient data with MedVector is recorded and entered exactly the same way as if the patient were sitting in front of the Principal Investigator.  

Our platform is agnostic by design and can accommodate the majority of drug trials that fall into the “self-administered” category.  This includes, pills, sprays, inhalers, creams, drops, and even self-injectable medications. In the future we plan to partner with infusion centers to aid in drug trials requiring IV administration, like Chemo-Therepy. 


MedVector technology will give patients unprecedented access to advanced medicine, clinical trial investigators will enroll more subjects into their studies, partner hospitals and practices will generate revenue even from uninsured patients, and drug companies can save lives, faster.

The Business Model


Predictable cash flow, non-disruptive costs, and explosive growth

Our revenue model plans to capture significant margins, recurring revenue, predictable cash flow, diverse revenue streams, and non-disruptive cost-of-goods sold.  In fact, we’ve been recognized by Pepperdine as one of the top 100 “Most Fundable Companies of 2020.”


Medvector intends to have a 35% markup on all medical tests done at subject locations. MedVector's business model plans to generate recurring revenue since subjects in clinical trials have multiple appointments and follow a strict protocol creating predictable cash flow. Additional revenue will come from success fees, patient sourcing fees, practice participation fees, and more. Our pass-through cost of goods sold will limit our billing exposure and risk,  while ideally making our revenue numbers more attractive.


This industry is poised for strong growth. Based on our research, in 2017, around 1.8 million subjects were enrolled into clinical studies which represents a ~$46 billion market (Source). However, that same year 4 million subjects were requested leaving an approximate 2.2 million subject gap.  This gap is 122% of the existing total market meaning the actual market size could be $104 Billion!

How We Are Different


MedVector is the future of patient access to clinical trials

Today, drug companies try to recruit doctors for access to their patients, however, most doctors are uninterested in acting as a Principal Investigator, nor do they refer to studies. The doctors that do offer clinical trials are typically located in affluent areas close to the doctors homes. This inefficient funnel is unable to access the wide net of diverse patients for more accurate trials, both geographically and economically. 


To fight this, drug companies hire patient recruitment companies that rely heavily on billboards, FaceBook ads, TV commercials and other forms of advertising. This type of patient recruitment requires high patient effort, and often reaches patients that are too far from existing clinical trial sites. Because most patient recruitment companies get paid when their subjects enroll into a study, they would be happy for MedVector to connect these subjects so they can collect the recruitment fee.

We have the opportunity and technology to address the approximate 2.2 million subject gap and capture market share of a potential $104 billion market. With one of the largest clinical trial networks in the world and the technology to connect subjects from anywhere, we are poised to disrupt the clinical trial marketplace and revolutionize how patients are connected to clinical trials.

Launch Strategy


 To Capture and Lead a $104 Billion Market

We have the majority of pieces in place to launch.  Our device is 100% complete, but we need to make a few more upgrades. Our telemedicine platform is 90% finished.  Our developers are hard at work streamlining some of the backend, but it's been tested and it works as designed!   


Our launch strategy is broken up into 3 phases:


  • Phase 1: “Low Hanging Fruit”

    • Work with Patient Recruitment companies to connect already identified subjects to existing clinical trial sites. 

    • Drive subjects from unapproved locations to approved clinical trial sites.

  • Phase 2: “Knock, Knock”

    • Approach targeted specialists and surgeons for access to their patients. Allowing these doctors to offer advanced medicine without referring away or acting as a Principal Investigator has the potential to unlock millions of patients.

  • Phase 3: “MedVector’s Hospital Network”

    • Begin using MedVector’s searchable subject networks to identify MORE subjects, faster. Statistically, with 7 hospitals we should compete with the largest clinical trial sites (we have 7), and with as little as 25 hospitals, MedVector could fill 50% of any study, creating additional revenue streams and greater accessibility.

OUR LEADERSHIP


A team of strong business leaders, technology and medical experts

The MedVector team is made up of strong business leaders with successful exits. CEO and Co-Founder Scott Stout previously worked as a fiduciary, investment specialist, team builder, and options strategist with companies such as Morgan Stanley and Wells Fargo’s Private Bank. 


Co-Founder Dr. Dennis Patterson is a hospital management expert with 35 years of hospital turnaround experience.  Dennis was one of the original founders of Wellspring Partners, which was acquired for ~$65 million.  He is also currently the Chairman of the Board for Verras, a data analytics company used for hospital consulting.  Currently, Dennis is working as needed for MedVector as his primary focus is building and expanding our hospital network, which is phase 3 of our launch strategy.   


Among our key advisors and investors are the former senior counsel to AMGEN (Mose Cowper), the former EVP for Apple (David Manovich), the CEO of Millennium Clinical Trials (Trevor Esaki), and the Senior VP of Whittier Trust (Teague Sanders).

Why Invest


Accelerate the clinical trial process and pave a multibillion-dollar market sector

We have the opportunity, resources, and traction to transform the clinical trial and pharmaceutical industries. Our proprietary hardware and software will significantly accelerate the clinical trial timeline, making advanced medicine more accessible to more people. Our innovative platform is ripe for this billion market opportunity, and ultimately will save lives. 

In the Press

Voyage LA

Meet Scott Stout of MedVector Clinical Trials

Karten Design

IMPROVING CLINICAL TRIAL SPEED THROUGH TELEMEDICINE

Offering Summary


Company

:

MedVector Corp

Corporate Address

:

898 N. Pacific Coast Highway, El Segundo , CA 90245

Offering Minimum

:

$9,999.20

Offering Maximum

:

$1,069,999.95

Minimum Investment Amount

(per investor)

:

$495.90











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

6,896

Maximum Number of Shares Offered

:

737,931

Price per Share

:

$1.45

Pre-Money Valuation

:

$10,017,538.15











COVID Relief

This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary regulatory COVID-19 relief set out in Regulation Crowdfunding §227.201(z).

Expedited closing sooner than 21 days

In reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).

Company Perks*

Early Bird

Friends and Family - First 72 hours | 20% bonus shares

Super Early Bird - Next 72 hours | 15% bonus

Early Bird Bonus - Next 7 days | 10% bonus shares

Volume

Tier 1 perk - ($10,000 + 5% bonus shares)

Tier 2 perk - ($25,000+ 10% bonus shares)

Tier 3 perk - ($50,000+ 15% bonus shares)

*All perks occur when the offering is completed.

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$195,854.00 USD
$26,998.00 USD
Cash And Cash Equivalents
$174,825.00 USD
$26,998.00 USD
Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$359,137.00 USD
$208,552.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$339,514.00 USD
-$512,457.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Industry Traction & New Explainer Video

about 2 months ago

Currently MedVector has signed NDAs with 9 Pharma/CROs and are analyzing 22 protocols.  Things are getting exciting over here! Our new explainer video has been very helpful!  

https://youtu.be/91Co05LcVpg

The industry is talking about MedVector!

2 months ago


Check out our new explainer video!

2 months ago

Our new explainer video is designed to help industry experts understand how MedVector unlocks access to patients behind non-research physicians who don't refer to clinical trials.  We also have another video coming out shortly outlining how data is entered using MedVector (Hint: It's captured the same way as without MedVector.)

MedVector Unlocks Access to Patients (New)

MedVector CEO named "20 Most Influential Healthcare Entrepreneurs to Watch in 2021"

3 months ago

DRIVEN TO EXPAND CLINICAL TRIALS BEYOND TRIAL SITES


Scott Stout is driven by the desire to compete ─ either racing downhill mountain bikes, riding motorcycles, or growing a business. If there’s someone quicker, smarter or more experienced, so much the better for the agile and entrepreneurial Stout, who loves to compete and win, but doesn’t always have to be “the best.” In fact, he says, “When I’m the best, I just feel like the competition isn’t strong enough.  When I’m in the pack, I push harder.”


READ THE FULL ARTICLE HERE


Scott Stout, Founder and CEO, MedVector Clinical Trials

Notice of Funds Disbursement

3 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MedVector - Telemedicine for Clinical Trials has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MedVector - Telemedicine for Clinical Trials be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Notice of Material Change in Offering

5 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the MedVector - Telemedicine for Clinical Trials offering. Here's an excerpt describing the specifics of the change:


MedVector has extended their campaign and added 2020 financials.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Notice of Material Change in Offering

5 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the MedVector - Telemedicine for Clinical Trials offering. Here's an excerpt describing the specifics of the change:


MedVector Corp is extending their campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Notice of Funds Disbursement

6 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MedVector - Telemedicine for Clinical Trials has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MedVector - Telemedicine for Clinical Trials be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Notice of Funds Disbursement

8 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MedVector - Telemedicine for Clinical Trials has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MedVector - Telemedicine for Clinical Trials be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Notice of Funds Disbursement

10 months ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, MedVector - Telemedicine for Clinical Trials has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in MedVector - Telemedicine for Clinical Trials be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

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