Medibio Limited (ASX:MEB) Senior Vice President, Corporate Health, Peta Slocombe discusses the company's suite of measurement tools, which use circadian biometrics to objectively screen, diagnose, monitor and manage mental health conditions.
Anna Napoli: Hello, Anna Napoli for the Finance News Network. And joining me now, from Medibio, is Corporate Health Senior Vice President, Peta Slocombe. Peta, welcome to the network.
Peta Slocombe: Thanks for having me.
Anna Napoli: First up, can you give us an introduction to your company?
Peta Slocombe: Sure. Medibio's a mental health technology company. Using physiological, or objective, data to assess, diagnose, monitor, and manage mental health conditions. Originally, founded out of UWA, and the psychiatrists working to understand why patients with particular mental health issues also had particular cardiovascular patterns. Today the company is US-based. It has 53 employees, 32 patents. And a market cap of 35 million dollars.
Anna Napoli: We hear a lot about mental health in the media and marketplace. Can you tell us what makes Medibio's approach unique?
Peta Slocombe: That's a great question. We hear about mental health awareness, and we hear a lot about the cause of mental health. But we don't hear a lot about the solution. I've been a practicing psychologist for 25 years, and we've never had a mental health technology that's been able to objectively measure mental health. It's the only area of mental health that doesn't have a quantifiable measure. So, Medibio brings to the solution an ability to see the cycles of mental health, to understand when people are developing or at risk of developing a mental health disorder, and to help us monitor and manage that a lot more effectively.
Anna Napoli: Can you give us a bit more detail on the product suite? Starting with your corporate and insurance offering.
Peta Slocombe: Our corporate insurance offering is the first of Medibio's products to launch. It involves offering employees within organisations, our client organisations, the ability to monitor and manage their mental health in a personalised way. Through a wearable technology. The wearable technology then syncs to their app, and gives them a tracking of how they're going biometrically, as well as giving them a personalised set of recommendations based on their scores.
Anna Napoli: Okay, and what about the consumer offering?
Peta Slocombe: The consumer offering is designed to address the 450 million consumers every year that get diagnosed with depression. Consumers will be able to, through the application and a wearable device, track their biometrics, and self manage, I guess. They'll keep a track of how they're progressing, and then going out to the market in terms of passing that to their physicians.
Anna Napoli: Great. And finally, what about the healthcare offering?
Peta Slocombe: Integrated health is a really critical part of Medibio. It will provide clinicians the world over with decision support tools to assess individuals. So that when they come in, instead of just as self report, they'll have a whole lot of data and tracking of where to look on the Logics platform that Medibio have created to understand how the patient has been responding to treatment, or how their mental health is going.
Anna Napoli: Peta, can you tell us about the work of Medibio's Scientific Advisory Board?
Peta Slocombe: Medibio's Scientific Advisory Board is symbolic to me of the rigor and seriousness of the scientific approach. It has the best minds in the world, from endocrinology, psychiatry, neuroscience, data science. From Mayo Clinic, head of the European Union on Mental Health. And the Scientific Advisory Board supports the leadership team and the board to advise on the trends and also the science that's emerging in the areas in which we're working.
Anna Napoli: And Peta, how are your financials and strategy? How are they progressing?
Peta Slocombe: Medibio's finance and strategy is progressing extremely well. We've recently commercialised. We got through the corporate health product, covering up to fifty thousand lives currently. We have submitted for, and received, CE Mark. TGA's been approved, FDA submission will be lodged shortly. And the business is on track to hit all its milestones.
Anna Napoli: Finally Peta, why should investors consider adding Medibio to their portfolios?
Peta Slocombe: Medibio's working with the largest addressable market on the planet. Mental health has four times more patients in their population than any other health, such as cardiac and other areas of health that we frequently hear about. The growth potential is enormous. There's no current solution in the market like we presently have. Medibio's at an exciting time of commercialisation to meet the needs of the market.
Anna Napoli: Peta Slocombe, thank you for the update.
Peta Slocombe: Thanks for having me.