Founded in 2017, The Insides Company is a leading provider of therapeutic chyme reinfusion solutions for patients recovering from colorectal surgery and complex intestinal diseases.
Its flagship product, the Insides™ System, helps to resume oral feeding, weight gain, accelerate recovery from home, reduce risk of infection and line sepsis and improve electrolyte and liver function. It has been granted Breakthrough Device Designation by the US FDA and is now commercially available in the United Kingdom, Europe and New Zealand.
Type II intestinal failure is one of the most catastrophic of complications which affects 9,200 people annually.1 Caused by surgical complications from bowel cancer, inflammatory bowel disease and trauma surgery, Type II intestinal failure requires long-term hospitalisation (8 months) and synthetic venous feeding. Cost of treatment is expensive, running around $230,000 per patient, and carries a 40% risk of line infection from venous feed, which is associated with mortality risk.
The Insides™ System is an electrical medical device with monthly consumables. It re-establishes the continuity of the full intestine, performing a process called chyme reinfusion, which helps to prevent wasting away of the gut by continuing to use all the functional gastrointestinal tract to absorb nutrients from the chyme. This process enables patients to reestablish oral feeding and wean off parenteral nutrition in as little as 3 days, resulting in significant health economic benefits and improvements in quality of life.
The Insides™ System was designated as a Breakthrough Device by the US FDA, and has had its efficacy published in the British Journal of Surgery. It has also won awards in innovation and design excellence.
To date, the device has received regulatory approval in 29 countries and is patent pending in national phase in 10 territories.
Estimated Economic Benefits
*For Enterocutaneous Fistulas in the UK
Target customers are colorectal surgeons and hospitals specialising in intestinal failure. The Insides System is estimated to have a market size of $700M annually over all of its clinical indications, including type II intestinal failure. The total market opportunity of the current suite of product launched and in development is estimated to be $2B annually.
The Insides Company is targeting reimbursement at 100 specialist hospitals by 2026. Currently, the product is being successfully used in 24 specialist hospitals. Sales are performed by sales teams and distributors, with the company having secured distributors in New Zealand and Australia.
The company is looking to expand its product range and use across a range of indications, with two pipeline products in feasibility trials. The Insides Company have projected annual sales to reach $50m by 2026.
The capital raised will be used to fund a 2-year sprint to achieve:
The company has completed a first close of the Series A capital raise, raising a total of $4.5m, led by Icehouse Ventures, with further investment from K1W1, NZGCP and UniServices. The Insides Company has appetite to raise up to $6m, with the round closing on 30 September if not fully subscribed prior to this date.
The minimum investment for this capital raise is $20k. If you wish to receive more information about the capital raise for The Insides Company, please leave your details and an indicative investment amount below. We will be in touch with all interested investors in due course. Note that this offer is open to wholesale investors only.
1 42 countries including OECD and non-OECD European countries.
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