Vision and Strategy
BiBBInstruments’ vision is to improve cancer diagnostics in many of the most common forms of cancer by offering EndoDrill®, the first CE-marked electric driven biopsy instrument for endoscopic examinations.
Business model and strategy
BiBB’s business model involves the development and sale of innovative biopsy instruments based on premium-priced proprietary products under the brand name EndoDrill®. The company creates value by building a product portfolio, EndoDrill®, with disposable instruments and drive units (reusable) for improved sampling and diagnosis of many of the most serious forms of cancer. The primary focus is currently products for ultrasound endoscopes. However, the aim is to also develop product variants for standard endoscopes. Since December 2020, EndoDrill® is the world’s first CE-marked electric biopsy instrument for endoscopy.
EndoDrill® instruments are intended to be sold as sterile disposable products coupled with a reusable drive unit (electric motor, foot pedal and cables) to hospitals that offer cancer care and diagnostics. Together with its clinical partners, the company will produce published scientific evidence for the most important indications. The product shall be CE-marked (granted in December 2020 for all intended indications except bladder cancer) and obtain FDA 510(k) approval for commercialisation in Europe and the USA. BiBB’s ambition is not to build a global sales organisation, but rather for the products to be gradually launched under the company’s own auspices in Sweden and at certain selected hospitals in Europe and the USA. Having its own local sales gives the company proximity to end customers for quick feedback and the opportunity to continuously improve and optimise the products. The goal in a few years’ time is to sign an agreement with a major global distribution partner for rapid international sales growth. A unique product portfolio in the premium segment of ultrasound-guided biopsy instruments coupled with good sales growth will make BiBB a suitable acquisition candidate in the fast-growing EUS market.
BiBB’s EndoDrill® product portfolio consists of patented and patent-pending disposable endoscopic instruments and drive units (reusable) for diagnosing many forms of cancer, including lung, stomach, colon and pancreatic cancer.
The company’s second-generation technology, the motorised system, is in essence a further development of the original idea. A motor-driven rotating cylinder replaces the manual drill screw and is used to take high-quality so-called core biopsies with high precision. Since the end of 2020, EndoDrill® is the world’s first CE-approved electric biopsy instrument for endoscopy – making it the first one granted market approval.
Patent-pending EndoDrill® consists of a handle with flexible drill cylinder (disposable component) coupled with a motor unit, foot pedal and cables (reusable component). The instrument has been developed to collect tissue samples of the highest possible quality, thereby enabling early treatment-determining diagnosis. The primary segment of EndoDrill® is the premium market for EUS biopsy instruments, where flexible needle instruments are used in ultrasound endoscopy for the diagnosis of difficult-to-capture tumours throughout the gastrointestinal tract, from the oesophagus to the rectum.
Early cancer diagnosis with the help of EndoDrill® biopsy instruments will make it possible to give patients optimal, timely, individualised treatment, increasing the likelihood of recovery, reducing patient suffering, saving lives, and reducing healthcare costs. The company’s innovative medical devices have the potential to improve healthcare and the odds for many cancer patients