Michelson Diagnostics (MDL) is a unique platform-technology company that has the ability to address multiple high growth markets in the cancer diagnosis / treatment markets, and is focusing on the huge non-melanoma skin cancer market as its first opportunity. Our vision is to have our scanners in every skin cancer clinic, in daily use, generating highly profitable recurring revenues for MDL via a pay-per-use system.
Non-melanoma skin cancer (NMSC) is the most common cancer in the US, outnumbering ALL other cancers combined. Due to the modern addiction to sun-bathing and the increasing elderly population, incidence is rising >4% per annum. NMSC has been described as ‘an epidemic’ in a recent widely reported journal, with more than 3.5M NMSC lesions in the US population in 2006. The cost of treatment of NMSC is huge: for example 4.5% of US Medicare cancer costs, or $1.3BN. This is dominated by the enormous cost of surgery.
NMSC Skin cancer treatment is expensive and invasive because visual assessment of skin cancers cannot show the depth and lateral extent of the tumour.
The opportunity is to provide dermatologists with a way to see below the skin surface, so they can:
- Excise the tumour in one operation instead of several, saving up to $500 per stage
- Safely use less invasive treatments such as creams or photodynamic therapy
- Reduce the number of unnecessary scarring excisions of benign or very superficial lesions
Michelson Diagnosic’s Value Proposition
Michelson Diagnostic’s unique Multi-Beam Optical Coherence Tomography (OCT) laser scanner is the only clinically approved imaging technology capable of showing NMSC skin cancers, in real time, with the resolution to delineate tumours. This capability is being demonstrated in ongoing clinical trials in Europe and the USA.
More accurate tumour margin delineation results in:
- Fewer repeated operations
- Better targeting of treatment options
- Fewer recurrences of cancers
- Less healthy tissue removed, producing smaller scars