Investors Relations

Promising Future

Our company provides breakthrough technology to a very large market

Real-time AI Software

TruScore provides real-time visualization and results during test.

Problem

Uncertainty in the initial cancer screening by non-specialist front line caregivers leads to (I)  failure to detect cancer at an early, more treatable stage, (II)  multiple malpractice claims due to false negative diagnoses and (III)  too many costly and unnecessary specialist referrals/biopsies.

Solution

Veriskin has developed a simple to use decision support tool to facilitate skin cancer screening by specialists and non-specialists caregivers.

Discussions Happening

TruScore has been well received by GPs, Derms,  Vets and consumers. All recognizing the positive impact it will have by creating more confident decision making due to the TruScore accuracy.

The Problem


Skin cancer is the most common form of cancer in the US, accounting for just under half of all cancers or >5 million diagnoses annually. 2% of skin cancers are melanoma, the rest being less well recognized types – basal cell and squamous cell cancers. Unfortunately, all of these cancers are very difficult for the non-specialist (e.g. primary care physicians) to diagnose and distinguish from non-cancerous skin abnormalities. Uncertainty in this initial assessment leads to (I) failure to detect cancer at an early, more treatable stage, (II) hundreds of malpractice claims due to false negative diagnoses (TheDoctorsCompany) and (III) many unnecessary referrals/biopsies. Overall, the lack of accurate, objective assessment tool for frontline caregivers leads to preventable loss of lives and costs the healthcare system over $3B each year; monies that are unnecessarily wasted.


The Opportunity


Despite high survival rate when detected early (~97%), one person dies every hour from melanoma in the U.S. making early detection vital for effective treatment. Conversely, failure to spot melanoma at an early, more treat-able stage results in individual treatment costs of over $150,000 and 9000 deaths annually. At an average cost of $140 per dermatologist visit and $200 per biopsy, an estimated $5.8 billion is spent on dermatology visits and skin biopsies each year to determine whether a suspect skin lesion is cancerous or not. Reportedly for every 2.2 biopsies, only 1 is in need of subsequent treatment. What is needed is a low cost alternative that provides accurate, non-subjective assessment of suspect skin regions by non-specialists frontline caregivers enabling precise targeting of patients for subsequent biopsies and/or escalation of care. Veriskin will focus on distribution to the frontline caregivers, e.g. PCPs and nurse practitioners, as well as dermatologists through a combination of device, per-use fee / disposable sales (razor/razorblade model). Based on anticipated prices and projected usage rates, Veriskin estimates the US market (TAM) to be in excess of $2.4B and the overall EU market at $5.3B. Projected revenues are > $100MM after 5 years of sales.

"Handheld, elegant, and extremely easy to use."

Mirianas Chachisvilis, Veriskin CEO

Investors

Please feel free to contact us to obtain executive summary and other pertinent documentation to assist in your investment making decisions.