Some follow up questions to BioLumix's elevator pitch. We discuss competitors, FDA, and how exactly a company might need to run hundreds of microbiology tests per day.
We follow up Gideon Eden's elevator pitch for BioLumix with a few clarification questions:
- Competitors vary by segment. In larger segments, like food, pharmaceuticals, and cosmetics, BioLumix is competing with other rapid testing technologies. In nutraceuticals, BioLumix is competing against external labs.
- FDA's testing mandate for nutraceuticals is rather loosely defined. These companies are mandated to test but the precise tests themselves are left to the company to justify.
- A nutraceutical can easily run 100's of tests per day. These companies have multiple products and each product can require multiple tests. For instance, a company with 20 products, each requiring 5 tests per day, would consume 100 test vials per day.