Inkwood Research
CEO OF SCINOVIA’S TAKE ON THE BLOOD FLOW MEASUREMENT DEVICES MARKET
Scinovia
Point-and-Image to Know-the-Flow
Raleigh, NC
Health Tech
Scinovia’s mission is to produce state-of-the-art diagnostics to help doctors make more data-driven decisions during procedures to save more lives. Scinovia developed VUFLOW, the future of non-contact imaging diagnostics for blood flow during surgery.
$87,305
raised
50
Investors
$89.3M
Valuation
$2.85
Price per Share
$228.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
13
Days Left
Rewards
Get rewarded for investing more into Scinovia:
$498+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Reasons to Invest
Help save more lives with an FDA Class I Augmented Reality Surgical Camera
300 million surgeries per year and good blood flow is a key to recovery
Current measurement tools originated in the ‘60s and require contact or injection of a contrast dye.
$500M market | probe | dye | 300M per year
OVERVIEW
MedTech imaging for non-contact visualization of blood flow
Scinovia Corp. is a medtech company engaged in the development of proprietary, non-contact diagnostics for cardiovascular and vascular surgeries with the aim to enhance patient outcomes, making surgeries safer and more cost-effective. We focus on improving outcomes of heart bypass, revascularization, and organ transplant therapies where blood flow is key to recovery and to reduce death and costly complications.
Scinovia is entering a growing market of $500M in sales last year with a revolutionary device VUFLOW that provides non-contact, real-time, quantitative data. Presently, the market relies on contact methods that were developed 60 years ago.
Our product roadmap includes a robotic-assisted diagnostic to enhance ease of use and precision while visualizing blood flow during surgery.
Scinovia is a pre-revenue, FDA registered company. VUFLOW units are being scheduled to enter hospitals in 2022 to explore diverse therapeutic areas and generate revenue
Product Use Video:
THE PROBLEM
Assessing the blood flow for surgery is challenging and costly
1. A top challenge surgeons face is knowing whether a procedure has poor blood flow.The number one problem surgeons face is knowing whether a procedure has poor blood flow. 20% of bypass grafts have less than 50% of average blood flow and 14% of breast reconstruction have necrosis. These cases add up: it costs around $100k per case to address breast tissue necrosis.
2. Current tools require contact and have challenges.
THE SOLUTION
Know-the-flow in real-time with VU-FLOW
Case studies have shown visualizing blood flow during surgeries can substantially assist in predicting if poor outcomes may occur. Poor outcomes result in longer recovery for people, costly complications, re-admissions, re-operations, or death.We designed VUFLOW to be the first non-contact visualization tool. Surgeons can now point-n-image to visualize blood flow.
*Computer generated animation for optional robotic upgrade in 2022
Business Model
Software as a Service will be offered on a pay-per-case basis and a multi-year subscription will be offered at a discount, which can be used to help capitalize sales growth. The data acquisition hardware will undergo periodic upgrades to keep up with new visualization features.
The cost for the first 7 units have been paid. We plan to fund operations through raising capital, selling subscriptions, and leveraging credit facilities through financial services in the MedTech industry.
*The above images include a rendering of a future product. Product is still currently under development not yet available on the market.
We plan to grow based on net income, use credit facilities to cover costs over the 4 month gap from building units to selling subscriptions.
First 2 rows indicate capability to assess blood flow speeds. The last 3 rows indicate safety elements.
THE MARKET
300 million major surgeries are being performed annually
Doctors use contact devices to measure blood flow speeds in over 300,000 cases per year. However, an average of 300 million major procedures are performed annually. The global market is estimated to be over $500M in annual sales.
A market comp Novadaq sold fluorescent angiography devices and was acquired by Stryker for $701M, 7 years after its market cap was approximately $100M on NASDAQ.
*The above images include a rendering of a future product. Product is still currently under development not yet available on the market.
OUR TRACTION
Scheduling clinical studies
Scinovia is an FDA registered manufacturer. Several VU-FLOW units are being scheduled for comparative clinical studies in early 2022. This represents an opportunity for VUFLOW to be published, become known among the societies and conferences, and to assess various indications for potential regulatory clearance.
Surgeons from diverse therapies, e.g., bypass, vascular, plastics, cancer, and emergency rooms have shown strong interest in exploring ways that VUFLOW could help in various procedures.
*The above images include a rendering of a future product. Product is still currently under development not yet available on the market.
Scinovia is currently integrating a robotic assisted option that will auto-adjust imaging to reduce glare and improve precision and ease-of-use.
*The above is a rendering of a future product. Product is still currently under development not yet available on the market.
WHY INVEST
Join a game-changing company
We aim to innovate and provide doctors with better tools to improve outcomes for loved ones. We’re targeting existing users of contact devices to switch to our revolutionary non-contact VUFLOW. Last year, hospitals spent over $500M on contact devices.
Our goal is for VUFLOW, which is a platform technology, to become an appliance that is used across many types of procedures.
*The above is a rendering of a future product. Product is still currently under development not yet available on the market.
Emoticons
In the Press
North Carolina Biotechnology Center
Scinovia Developing Blood-flow Imaging System for Heart Bypass Surgeries
WRAL TechWire
Durham startup aims to raise $6M for blood-flow monitoring system
NC Business News Wire
Start-up Scinovia looking to change how blood flow is measured during surgery
Offering Summary
Company | : | Scinovia Corp. |
Corporate Address | : | 8801 Fast Park Dr, STE 301, Raleigh, NC 27617 |
Offering Minimum | : | $9,997.80 |
Offering Maximum | : | $1,069,998.30 |
Minimum Investment Amount(per investor) | : | $498.75 |
Terms
Offering Type | : | Equity |
Security Name | : | Class C Nonvoting Common Stock |
Minimum Number of Shares Offered | : | 3,508 |
Maximum Number of Shares Offered | : | 375,438 |
Price per Share | : | $2.85 |
Pre-Money Valuation | : | $89,293,381.35 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Investment Incentives and Bonuses*
Time-Based:
Friends & Family Early Birds Bonus:
Invest within the first 72 hours and receive 20% bonus shares
Super Early Bird Bonus
Invest within the next 72 hours and receive 15% bonus shares
Early Bird Bonus
Invest within the next 7 days and receive 12% bonus shares
Amount-Based:
Invest $1,500+: Receive 15% bonus shares
Invest $5,000+: Receive 20% bonus shares
Invest $25,000+: Receive 25% bonus shares
Invest $50,000+: Receive 30% bonus shares
Invest $100,000+: Receive 40% bonus shares
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Scinovia Corp. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class C Nonvoting Common Stock at $2.85 / share, you will receive 110 shares of Class C Nonvoting Common Stock, meaning you'll own 110 shares for $285. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
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: Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”. Vendor payments.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,268,206.00
USD
$1,362,037.00
USD
Cash And Cash Equivalents
$73,150.00
USD
$110,738.00
USD
Accounts Receivable
$0.00
USD
$0.00
USD
Short Term Debt
$385,680.00
USD
$142,299.00
USD
Long Term Debt
$25,050.00
USD
$53,170.00
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
-$728,230.00
USD
-$731,388.00
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
Notice of Material Change in Offering
19 days ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Scinovia offering. Here's an excerpt describing the specifics of the change:
Material Change
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.
VUFLOW introduced to to innovative heart surgeons!
24 days agoDr. Wolf presented VUFLOW for the first time.
Many raised hands to tryuseVUFLOW to assess blood flow through a new heart bypass!
Founder Spotlight: Jim Sund.
about 2 months ago
Scinovia Community,
During surgery, blood flow is crucial to a doctor’s understanding of a patient’s recovery time. Scinovia’s non-contact imaging technology provides real-time information to help doctors make more data-driven decisions during procedures, resulting in more lives being saved.
We understand the importance of precise measurements when it comes to life-saving surgeries. That’s why we developed VUFLOW - one of the only non-contact measurement devices that visualizes blood flow speeds in surface vessels during major surgeries.
I would like to introduce you to our visionary CEO, Jim Sund, who has dedicated his life to bringing our vision to fruition.
Jim Sund (Ph.D., MBA), CEO and Founder
PhD - Electrical and Computer Engineering
MBA - General Management & Finance
BS - Chemistry, Zoology
Jim Sund is a rare person with extensive backgrounds in both science and business, stemming from a wide-ranging curiosity and drive to see how everything works. In diverse environments from NASA to pharmaceutical companies such as Merck and Roche to high-tech businesses like Verizon, Cisco, Lenovo and Lockheed Martin Dr. Sund has brought his extraordinary skills to solve questions of new market entry strategy, sales and marketing strategy, manufacturing and operations, and innovations in product management and IT platforms.
His undergraduate years at the University of Florida were aimed toward becoming a surgeon, but his broad interests resulted in degrees in chemistry and zoology. Graduate studies earned him a PhD in electrical and computer engineering from Duke University.
The world of business also fascinates him, again about how things work and why. This led to an MBA from Duke and work in the business world encompassing a diversity of functions from investment banking to bond underwriting, to marketing, to human resources, and more for major companies in these fields worldwide. While at Duke, Dr. Sund was an Industry Mentor to lead and grade Duke graduate students in practicums to help Fortune companies across external business and internal corporate strategies.
His hands-on business experience was especially valuable when working on behalf of Duke and N.C. State universities in a program to analyze inventions by professors in various fields. Dr. Sund conducted detailed studies of over 100 inventions for usefulness, practicality and marketability. This elegant mix of broad scientific backgrounds and practical business acumen yielded real-world analyses to determine how well these ideas could work and how they might be capitalized and marketed.
The common factor in these diverse endeavors is solving problems with the perspective of a company outsider combined with practical knowledge of both the science and the business issues involved.
His constantly enquiring mind coupled with an unusual combination of skill sets led him to seek a problem that needed solving. That problem was the need for a way to measure blood flow accurately during major surgery. The current technology has been in use for some 40-plus years and is more than ready for an upgrade. In 2018 Dr. Sund launched Scinovia to provide that upgrade with VUFLOW which provides non-contact, real time, ongoing data for surgeons during an operation.
Join Scinovia as an Early Shareholder on StartEngine
The Scinovia community is growing, and we hope you’ll consider joining us in creating an impact in the global healthcare industry.
To join us as an early backer, visit our StartEngine raise page and invest for a minimum of $498.75 today.
More information about our mission is located on our raise page. Should you have any questions or concerns left unanswered, please do not hesitate to reach out to our executive team. We will be more than happy to address them for you.
Thank you in advance for your support. We look forward to keeping you updated on our journey throughout this successful campaign.
Warmly,
Jim Sund
Meet the Brilliant Visionaries Behind Scinovia!
2 months ago
Scinovia Community,
A better, more advanced way to protect lives during surgery.
Scinovia’s VUFLOW imaging diagnostics platform is helping surgeons make more informed decisions, increasing accuracy, reducing complications and saving lives.
I wanted to take a moment to introduce you to the brilliant visionaries who aim to make Scinovia the leader in imaging diagnostics - from leading-edge research to developing the most advanced imaging technology.
Jim Sund (PhD, MBA), CEO and Founder
Jim led the development and commercialization of a life science informatics platform that was licensed by Merck & Roche. He evaluated the commercial viability of hundreds of inventions for NASA and universities. Jim mentored dozens of Duke graduate consulting practices to solve challenges for Fortune clients. As part of Lockheed Martin, Jim managed contracts, systems engineering, and computer security for the US EPA National Computing Center.
PhD - Electrical & Computer Engineering, Duke University
MBA - Duke University
BS - Chemistry, University of Florida.
BS - Biology, University of Florida
Dr. Randall Wolf, Surgeon Advisor
* Renowned heart surgeon with over 40 years of experience performing heart bypass procedures
* First heart bypass using DaVinci robot
* Professor & Heart Surgeon, Houston Methodist
* Inventor of Wolf Mini Maze for Afib
* Master Magician
Randall K. Wolf, M.D., is a leading innovator in minimally invasive treatment of atrial fibrillation. The first North American heart surgeon to perform robotic assisted coronary bypass, Dr. Wolf has pioneered DaVinci cardiac surgery and a number of other cardiothoracic procedures including the Wolf Minimaze, endoscopic first rib resection and endoscopic thoracic spine surgery.
Dr. Wolf has authored over 100 peer reviewed articles and book chapters. He has served as president of the International Society of Minimally Invasive Cardiothoracic Surgery (ISMICS) and president of the 21st Century Cardiothoracic Surgery Society. He has also served as Professor of Surgery at Ohio State University; Professor of Surgery and Biomedical Engineering at the University of Cincinnati; and Visiting Professor at The University of Texas.
BA - Indiana University
MD - Indiana University School of Medicine
Jeff Haag, Vice President of Engineering
Jeff was a Founding Investor who brings over 30 years of experience in Embedded Real-Time Hardware and Software Development and Software Systems Architecture across a wide range of commercial platforms with millions of users. He has participated in all levels of Software Development, from coding to architecture, from managing small teams of developers to working with and managing complex architectures across Business Units. Jeff has a very strong background in all aspects of Production Delivery of quality hardware and software products from his career spanning several years at IBM, SquareD, and 3Com, as well as 20 years at Cisco Systems.
He brings a very complete background of software systems with deep expertise in Device Management, Real-Time processing, Networking, Security, and Virtualization, wide general knowledge of mechanical and electrical engineering, as well as extensive experience managing technical customer relationships.
MS Computer Science, North Carolina State University
BS Electrical Engineering, Virginia Tech
Dr. Kim Steinmann, Medical Advisor
* Pediatric Hematologist/Oncologist
* Pediatric Emergency Medicine
Kim is board certified in both Pediatric Emergency Medicine and Pediatric Hematology/Oncology. She received her M.D. from the St. Louis University School of Medicine and completed her Pediatric ER residency training at Cardinal Glennon Children’s Hospital in St. Louis. She then completed her Pediatric Hematology/Oncology fellowship at University of Michigan in Ann Arbor, Michigan.
She brings extensive academic, teaching, and clinical experience from her 10+ years as a faculty/staff member at several institutions as well as 10+ years of industry experience, working on both solid and hematological malignancies with early to late phase clinical development of targeted therapies.
Kim is a board member of the pediatric collaborative team. She has had publications in several peer reviewed journals and has presented scientific data at various national and international conferences and training events in oncology and emergency medicine.
M.D., FCCP, FASCO
Join Scinovia as an Early Shareholder on StartEngine
The Scinovia community is growing, and we hope you’ll consider joining us in creating an impact in the global healthcare industry.
To join us as an early backer, visit our StartEngine raise page and invest for a minimum of $498.75 today.
More information about our mission is located on our raise page. Should you have any questions or concerns left unanswered, please do not hesitate to reach out to our executive team. We will be more than happy to address them for you.
Thank you in advance for your support. We look forward to keeping you updated on our journey throughout this successful campaign.
Warmly,
Jim Sund
National Science Foundation (NSF) approves Scinovia's proposal pitch
3 months ago
Scinovia advancing to next phase
of obtaining an NSF grant!
Crowdfunding 101: Scinovia’s Campaign is Live!
3 months ago
Scinovia Community,
Scinovia is revolutionizing the way doctors monitor the flow of blood during surgery. VU-FLOW is a non-invasive, unique imaging device that allows them to make better decisions faster, resulting in more lives being saved.
As you may have heard, we are currently raising capital via StartEngine’s equity crowdfunding platform!
In today’s update, I am going to cover everything you need to know about regulation crowdfunding and our mission at Scinovia.
Regulation Crowdfunding? What’s That?
Equity crowdfunding has provided a new alternative approach to funding a small business or startup.
Rather than having Venture Capitalists or angel investors invest in your company in exchange for equity, you can take advantage of the crowdfunding method and raise money from thousands of investors who are willing to invest in exchange for shares.
In the past, accredited investors (networth of $1M+ or annual income of $200K+) like wealthy angel investors or VC’s held a monopoly over the massive wealth generator that is investing in startups and small businesses.
Thanks to Regulation Crowdfunding (Reg CF) and recent rules set in place by the SEC, everyday investors are now able to participate in owning shares in these types of companies, essentially democratizing startup investing for all.
In addition, Title III of the JOBS Act now allows private companies who are looking for shareholders to raise up to $5M annually, as opposed to the original amount set to $1.07M.
The JOBS Act has been an incredible benefit to capital markets. This law has provided smaller companies with an opportunity to raise funds and offer an ownership stake to more individual investors than before.
Scinovia is Set to Create an Impact
Scinovia’s research and development programs focus on improving outcomes for patients with heart bypass, cardiovascular procedures, and organ transplant therapies with our non-invasive blood flow diagnostics.
By making these diagnostics more accessible to those who need them, we reduce costly implications and even the risk of death, ultimately saving more lives.
Scinovia aims to revolutionize the market which did $500M in sales last year by replacing the outdated, 60 year old, contact methods of the past. We believe our VU-FLOW device will put us at the forefront of this market by providing the real-time, quantitative data that doctors have been yearning for.
The main problem surgeons face is knowing whether a procedure has poor blood flow or not, and Scinovia's Point-and-Image is the solution we've all been waiting for.
Join Our Community of Early Investors Today!
Now that you know more about equity crowdfunding and what we’re trying to accomplish at Scinovia, we hope you will consider us as your next investment opportunity.
To join Scinovia as an early shareholder, head over to our raise page and invest for as little as $498.75.
If you have any questions or concerns, please feel free to reach out to our executive team and we will be happy to address them for you.
Thank you in advance for your support. We look forward to making an impact with you as our partner.
Warmly,
Jim Sund
FDA Class I listed !
3 months ago
Scinovia's FDA registration #
3 months ago
Alien TT invites Scinovia to pursue large EIC grants
4 months ago
AlienTT invites Scinovia to pursue European Innovation Council (EIC) Accelerator grants, which is endowed with EUR 1B
Jan 4, 2022 Yahoo! Finance article
4 months ago"This Company is Revolutionizing Blood Flow Visualization During Surgery"
"Our hospitals are a far cry from the days ..."
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