GET A PIECE OF IPILL
Remote Monitoring Technology to Combat the Opioid Crisis
$0 Raised
REASONS TO INVEST
iPill has won numerous competitions, has been designated by the FDA as a “breakthrough” medical device, and received FDA Class I Registration.
iPill’s serviceable addressable market is $10 billion annually.
iPill has been granted 3 patents and is the only pill dispenser on the market that is completely tamper-resistant and has insurance coverage.
ABOUT
HEADQUARTERS
17532 Marengo Dr
Rowland Heights, CA 91748
WEBSITE
View Site
iPill is a pill dispenser with a smartphone application, designed to directly address and combat the opioid crisis.
TEAM
John Hsu MD
CEO & Co-Founder
Sherie Hsieh, BS
COO, Director & Co-Founder
Peter Weinstein PhD, JD
Director & Legal Counsel
10 hours per week to iPill.
Before his involvement with Quivive Pharma, Dr. Weinstein worked for many years as Senior Patent Counsel at Baxter Healthcare Corporation where he was responsible for managing legal and intellectual property matters for Baxter’s major hemophilia products like Advate® and major research and development programs in hemophilia, two of which were approved by the FDA, including Adenovate®. This work entailed working with multidisciplinary teams in the United States, Europe and Asia. Prior to Baxter, Dr. Weinstein worked in the San Diego Offices of the law firms of Brobeck, Phleger & Harrison and Fish & Richardson where his practice focused on the management and prosecution of patent portfolios for biotech and high-tech companies and patent and general civil litigation. During law school, he worked full-time as a patent agent in the Boston Office of Goodwin Procter. Dr. Weinstein also worked as an Examiner at the United States Patent and Trademark Office followed by a stint as a Senior Scientist at a biotech company where he was responsible for the Animal Health Group developing vaccines and other therapeutics for the treatment of infectious disease in large animals. Dr. Weinstein received his Ph.D. in Biology with an emphasis in Immunology from the University of Pennsylvania. Following receipt of his Ph.D., Dr. Weinstein worked as a Research Fellow, first at the National Institutes of Health in Bethesda, Maryland and then at the United States Army Medical Research Institute of Infectious Disease in Frederick, Maryland where he investigated the molecular development of antibody diversity and developed vaccines. He received his Juris Doctorate degree at Boston College Law School. Dr. Weinstein is a registered patent attorney and is licensed to practice law in California and is admitted to the U.S. District Court for the Central and Southern Districts of California.
TERMS
iPill
Overview
PRICE PER SHARE
$1.50
DEADLINE
May 22, 2021
VALUATION
$7.5M
FUNDING GOAL
$10k - $1.07M
Breakdown
MIN INVESTMENT
$399
MAX INVESTMENT
$106,999.50
MIN NUMBER OF SHARES OFFERED
6,666
MAX NUMBER OF SHARES OFFERED
713,333
OFFERING TYPE
Equity
ASSET TYPE
Common Stock
SHARES OFFERED
Common Stock
Maximum Number of Shares Offered subject to adjustment for bonus shares
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 COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).
Expedited closing sooner than 21 days.
Further, 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 beginning May 4, 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).
Voting Rights of Securities Sold in this Offering
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.
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses*
Early Bird
Friends and Family - First 6 days | 5% bonus shares
Early Bird Bonus - Next 7 days | 4% bonus shares
Volume
* Tier 1 perk - ($5,000+ 1% bonus shares)
* Tier 2 perk - ($10,000 + 2% bonus shares)
* Tier 3 perk - ($25,000+ 3% bonus shares)
* Tier 4 perk - ($50,000+ 5% bonus shares)
*All perks occur when the offering is completed.
Irregular Use of Proceeds
We will not incur any irregular use of proceeds.
ALL UPDATES
REWARDS
JOIN THE DISCUSSION
0/2500
John Hsu
iPill
•
2 years ago
Have you locked up your opioids today?
1 in 4 opioid overdoses now involves children and teens. https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2719580
One of the biggest problems, no one really know what to do with unused pills. There are no universal recommendations for the proper disposable of unused opioids, and patients are rarely advised of what to do with unused opioids or expired medications. According to the Office of National Drug Council Policy, most medications that are no longer necessary or have expired should be removed from the containers, mixed with undesirable substances (i.e. cat litter, used coffee grounds) and put in an impermeable, nondescript container (possible container with a lid or a sealed bag) before throwing in the trash. The FDA recommends the most opioid medications, including OxyContin/acetaminophen (Percocet) and oxycodone (OxyContin tablets) and transdermal fentanyl (Duragesic transdermal system) be flush down the toilet instead of thrown in the trash. Disposal by flushing down the toilet proves immediate and definitive elimination of safety hazards from in intentional use or a accidental exposure of opioid products
Patient should be advised to flush prescription drugs down the toilet only if the label or accompanying patient information specifically instructed do so. Flashing on his medication has been the subject of controversy with some state governments and boards recommending against the practice due to pollution concerns and affects on waterways and wildlife.
The American medical Association recommends following three steps to promote the safe storage and disposal of opioids.
1. Educate patient about the safe use of opioids including not sharing prescriptions with others.
2. Remind patients that medication should be stored out of reach of children and in safe place - preferably locked to prevent other family members and visitors from taking them.
3. Talk to patients about the most appropriate way to dispose of unused expired, unwarranted, and unused medications. The preferred option is that unwanted or unused pills, liquid or other medication should be disposed of in a local “take back” or mail back program or medication dropbox at a police station, pharmacy, or unauthorized collection site. Contact your state law enforcement agency or visit HTTPS://takeback-day.DEA.GOV to determine if a program is in your area
0
0
John Hsu
iPill
•
2 years ago
We have reached out to the DEA. 9.8 million opioid units lost 2018and 6.8 million units lost 2019. https://www.dea.gov/sites/default/files/2018-11/DIR-032-18%202018%20NDTA%20final%20low%20resolution.pdf
iPill destroys unused pills after the prescription term ends so they can't be accidentally ingested or stolen.
0
0
ratsamy bounking
2 years ago
I don't understand, how is this going to prevent people of drug addiction? it's not breakable? they can't get a hammer and hammer that thing open?
2
0
Karyn Bormes
2 years ago
Pharmacist with questions.... What would the compensation for pharmacies to use this device? Would they be filling them with the tablets? I would like to know if you have any support from any large chain pharmacy? There will be no support from pharmaceutical companies, so the support will have to come at the dispensing step.
Also I understand that dental offices may prescribe quite a bit of narcotics, but they are small quantities and not long term. Seems like trial money would be better spent at chronic pain clinics.
Can you also explain why iPill will be covered by insurance and not any other device?
Is there a possibility of reuse?
Thanks for taking the time to answer some practical questions
1
0
Michael Magargal
2 years ago
Hi John
After a lot of thought and reading up on your background of you and your team. I think I want to take this journey with you. I just have a couple more questions.
1.You have stated that you have a lot of interest from investing bodies outside of StartEngine. So am I right to assume you are not too concerned by the low turn out of StartEngine investors? Therefore I shouldn't be as concerned either?
2.What is the plan after this offering closes ?
3. How would I get updates and be able to track my shares ? is there an email list planned? especially since there's so few StartEngine investors?
If I invest its really because I'm investing in you. I love that you are stepping forward to find a solution to a crisis that I really want solved. I also applaud how you have no debt and you sacrificed your savings to get this going. Ofcourse I want Ipill to succeed, but why I'm investing is I want you to succeed . I hope a small contribution from me will help get this thing going strong.
Thanks again for taking the time to answer my questions.
1
0
Jeffrey Schmitz
2 years ago
John, thanks for the consideration in lowering the minimum. I want to clarify that I think your valuation is very reasonable and attractive given what I understand of your venture and its potential. Again I appreciate you looking into the potential for a lower minimum. Best, Jeff
0
0
Michael Magargal
2 years ago
High John thank you very much for your detailed response. You know Id like to invest as well but the 400 is a little high for me . Id have to cancel other reg cf investments of mine in order to invest in Ipill .
At any rate thanks again for taking the time to speak with me . And for your hard work .
0
0
Michael Magargal
2 years ago
Im sorry if I missed this but what do the 3 patents specifically cover or protect?
1
0
Jeffrey Schmitz
2 years ago
I would like to invest and think this is a very promising venture but the minimum is too high. Would you consider changing the minimum to $200? A $400 minimum for a $7.5 million valuation cap is unnecessarily high.
0
0
HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
WHY STARTENGINE?
REWARDS
We want you to succeed and get the most out of your money by offering rewards and memberships!
SECURE
Your info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTS
Invest in over 200 start-ups and collectibles!
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
John Hsu
iPill
•
2 years ago
0
0