FAST Speech Therapy
1280 Route 46 W.,
Parsippany, NJ 07054
Eric Friedland, MS CCC SLP, SLS
(Chief Medical Officer)
Mark Annett, MS BMe,
(CTO/Patent Agent – 69401)
Medical Devices, Speech Therapy
Friedland Assessment and Strengthening Tools for Therapy (FAST Speech Therapy) is a new venture that has access to the resources of the 1634 sq. ft. United Speech Services as well access to the engineering resources of Annett Enterprises LLC (a boutique engineering design firm.)
Type of Financing Sought:
Pre-Money Valuation for this Round:
Total External Capital Invested
IP Legal – Weinick, Jeffrey M.
WOLFF & SAMSON PC
One Boland Drive
West Orange, NJ 07052
Accounting firm - TBD
Corporate Legal - TBD
Bank - TBD
Use of Funds
Mold qualification, initial production, clinical trials, marketing and salaries
Type of Entity
Planned as LLC
The mission of Friedland Assessment and Strengthening Tools for Speech Therapy (also known as FAST Speech Therapy) is to develop therapeutic tools that will not only be available in specialty clinics but are broadly available in all settings, including the patient's home.
Our commitment is to develop best in class tools for assessment and strengthening of speech and swallowing skills that are able to achieve documented improvement in patients, and are affordable by both clinicians and the patients themselves.
Chief Medical Officer - Eric Friedland, MS CCC SLP, SLS – Eric is a Medical Speech Language Pathologist with close to 25 years experience in all clinical settings from schools to geriatric facilities and is the administrator and owner for the past 10 years of United Speech Services and is certified in providing Fiber Endoscopic Evaluation of Swallowing (FEES and FEEST).
Chief Technology Officer - Mark Annett, MS BMe, Patent Agent #69401 – Mark is a bio-medical engineer/patent agent with 25+ years experience in all phases of medical devices, from design and IP, through regulatory submissions and vendor qualifications, and into the market and beyond.
This is actually the second system for us. The first US Patent Application 13/013,001, was created while we sat on the sidelines watching our daughters play soccer together. Although we spent a year and half on its development, we decided to put that product on hold because it was too expensive to manufacture at the price point that we wanted to sell it.
This led us to the development of a family of products known as the Friedland - Tongue Scale System, which allowed us to achieve our vision of creating not only world class speech products that are affordable by both clinicians and their patients but will be manufactured here in the US.
Initial launch will be with a family of products called, the Friedland - Tongue Scale System (see below). The family of products is patent pending per US Application number: 13/307,459 and per International Application number: PCT/US2011/062629. Additional intellectual property includes US Application 13/013,001.
Marketing, Sales and Customers
TOTAL Domestic market was established by taking a portion of the estimated 119,300 speech therapists in the U.S. as specified in the National Employment Matrix for 2008 and the size of the TOTAL International market was projected to be 200% of the Domestic.
Sales would be through two channels: direct marketing to clinicians through continuing education, tradeshows, conferences, and publications AND directly to the patients themselves through our website www.FASTSpeechTherapy.com.
Although there have been several patents issued for tongue strength measurement devices, only one device, US Patent Number 5,119,381 (June 9, 1982), is currently on the market, as the Oral Performance Instrument (IOPI), www.iopimedical.com. This device only competes with our clinical version and since it is off-patent we would anticipate an equivalent product as a component of our clinical version.
A new product that is coming out shortly is the MADISON ORAL STRENGTHENING THERAPEUTIC. (MOST®) DEVICE. by Swallow Solutions LLC www.swallowsolutions.com, again, this product only competes with our clinical version.
Financial Results and Projections (dollars in millions)