An opportunity to Invest in a Safety Syringe manufacturer with strong demand from major clients operating in a market with few suppliers and rapidly accelerating demand.
Irish company Insulution PLC is looking for loans of €15m and seed round funding of €6m to grow the companies SafeSyringe brand.
We aim to build multiple automated safety syringe production lines close to where there is demand, to help support local economies and satisfy the rapidly growing global demand for safety syringes.
With orders from a global NGO and a large US medical group, we are now looking for banks & investors to fund the building of the production lines.
Due to the risk of accidental “needle stick injuries” using standard hypodermic needles, there is a growing trend towards the use of safety syringes in many countries. This coupled with a large hike in demand caused by the Covid-19 Pandemic, the ever-growing vaccination programme (i.e. the new vaccine for Malaria), there are simply not enough factories producing safety syringes to cope with rising demand.
- Large unsatisfied demand for safety syringes emerged during the Covid-19 pandemic
- A growing trend away from non-safety syringes
- Very little supply available outside China
- We have contracts with large NGO’s requiring billions of syringes annually
- We have a growing pipeline of orders from distributors and resellers
Our SafeSyringe brand will start manufacturing safety syringes in Q3-2021 at our new 27,000 sq ft purpose-built factory in Mombassa, Kenya. Based in the Export Processing Zone (EPZ), it benefits from no import/export duties and several years of corporate tax exemption.
Within six months, we aim to produce well over 300million safety syringes per month.
In Q4 2021, we will set up a production line to produce the Medtech Concept Minipen2 Insulin delivery system under a license agreement. The demand for safe Insulin syringes is expected to increase year on year providing the company with a second profitable revenue stream.
We have several contract manufacturers ready to produce SafeSyringe products in China and Europe starting from July 2021.
We aim to manufacture other medical devices, diagnostic test kits and PPE products at our factories selling under our own brand or as a contract manufacturer for other brands.
Milestones (Ed of June 2021)
- We will have a contract with a large NGO needing over 1 billion syringes per year
- We will have a contract with a large medical group needing 2 billion syringes per year
- The contracts from the first two clients will exceed €30m value per annum
- We will have signed LOI’s with several distributors
- Our first factory in Africa (Mombassa, Kenya) will be secured
- Our production line manufacturer will be preparing for delivery in July 2021
- We will have agreed master distribution agreements with one or more organisations
- We will have found a partner to support the financing and company expansion
- We will have a contract to manufacture the Medtech Concept Minipen2 (a miniature insulin syringe/pen)
- We will have an experienced team of commissioned sales representatives securing contracts with over 30 distributors.
By the end of June 2021, we will have commercial contracts signed with two clients. Their escrow deposits will release bank funding for manufacturing. At this point, we predict a €30m valuation based upon contracts and cash using a DCF valuation method. The valuation is expected to rise to over €150m within 1 year. An external independent valuation will be carried out by Equidam that can be shared with investors during seed round funding.
Commercial Loans of up to $15m are to be secured in June 2021 (from Banks, Funds and investors).
We are also making available prefered stock with an 8% interest rate (buyback after 1-2 years).
Seed Round – Open Now
This round of funding will support the manufacturing of safety syringes at our factory in Kenya and at a second location to be decided in Q3 2021. Options under consideration are the US & Turkey where we have found suitable factory space.
During the Seed round, we are looking to offer €6m in equity to private investors, corporates, foundations and institutional investors.
- Up to 20% of the companies stock (1 million shares) is available during the Seed Round
- Minimum Investment of €50,000 and a maximum of €6m
Round A – Due Q1 2022
A further 15% of the companies stock will be available in Round A funding. This stock can be allocated to investors who wish to secure up to 35% during the seed round.
Investor Pitch Deck
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