A Description of the Business of Medsaic Pty Ltd. Essay

1161 Words Oct 30th, 2009 5 Pages
Provide a brief description of the business, state why you consider it to be “Entrepreneurial”; explain how the business creates value through the identification and exploitation of new products, processes and/or markets.

Medsaic Pty Ltd is an Australian biotechnology company that is a good example of a successful start up entrepreneurial business. Founded in 2003, as a spin-off company from the University of Sydney, it was established to commercialize patented intellectual property covering the use of microarrays for the diagnosis of disease[1].

Medsaic developed new platform technology, now known as DotScanTM, which is a solid-phase cell-capture assay using an antibody mircoarray to immunophenotype cancer cells[2], as well as
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The first DotScanTM product to enter the market was for the diagnosis of leukaemia and lymphoma applications in mid-2005. The market for the product is valued at more than $60 million in Australia and $1.2 billion in the United States of America[9]. The current benchmark protocol for leukaemia and lymphoma diagnosis is Flow Cytometry, which allows for the identification of ~4-5 markers on the cell surface. In contrast, DotScanTM technology is able to identify anywhere up to 200 markers. While the original application of DotScanTM is as a rapid diagnostic tool, it may also be used as a prognostic tool in the future, allowing for the development of treatments designed for the individual[10].

The main users of DotScanTM are pathology service providers, and Medsaic were able to develop a commercial partnership with Mayne Pathology, which had the second-largest share of the pathology market at the time. This allowed Medsaic Pty Ltd to develop their product in a commercial pathology environment and work alongside the incumbent technology, enabling them to receive customer feedback throughout the development process[11], as well as allowing a quick rollout of the product. Medsaic also developed a direct-sale approach, and have looked to expand their product into overseas markets[12].

On top of this, Medsaic continue to develop their product for new applications and have published research using DotScanTM technology for the diagnosis of

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