About the Company
20/20 GeneSystems’ mission is to reduce cancer deaths in the U.S. and around the world through early detection. Boosted by machine learning, a form of artificial intelligence, 20/20 has developed patented blood test algorithms that combine protein bio-marker levels together with various patient-specific information such as age, gender, smoking history, etc. Individuals identified to be at increased risk for having one or more early-stage cancers are given recommendations for follow-up testing so that the cancer can be pinpointed, biopsied, and treated through surgery. In Q2 2017, 20/20 launched a blood test in the U.S. for early lung cancer detection and debuted a similar lung cancer test in China in August 2017. 20/20 plans to introduce OneTEST in 2018, which will identify cancer risk using tumor antigen markers enhanced with 20/20’s proprietary algorithms that incorporate the patient’s individual risk factors to give a more accurate cancer risk profile.
The Person Behind the Company
Richard Scherer, Director of Operations
About the Offering
JOBS Act Offering type: Reg CF
Portal used: MicroVentures
Link to offering: https://app.microventures.com/crowdfunding/2020-genesystems
Q. What problem are you solving with your product or services?
A. 20/20 GeneSystems’ mission is to reduce cancer deaths in the U.S. and around the world through early detection.
Q. What are your current goals for the business?
A. Launch OneTest for multiple cancers in 2018.
Q. Why did you choose this particular crowdfunding platform?
A. We chose Microventures based on a recommendation from our securities lawyer.
Q. Why did you choose equity crowdfunding over other funding mechanisms?
A. Crowdfunding is not only a good way to raise capital but also to promote our products and identify early adopters.
Q. What has been the hardest part of the equity crowdfunding process based on your experience?
A. Much to our surprise, this equity crowdfunding process has actually not been very hard at all. If I were to pick one area that gave us the most trouble, I would say social media marketing because this is brand new territory for our company. However, we are making great strides in our social media marketing efforts as well.
Q. What has been the most rewarding part of the equity crowdfunding process based on your experience?
A. The most rewarding aspect of this process has been reaching hundreds of investors and potential investors who can help us spread the word about our tests that may help save lives.
Q. What makes your company unique and/or distinctive to potential investors?
A. We are the first company we know of to combine traditional biomarker testing with machine learning algorithms to create the best screening tests possible from one tube of blood.
Q. What inspired you to start or become a part of this business?
A. Cancer is the second leading cause of death in the world. I'm sure we all have been impacted personally by this terrible disease. A specific example of this is one of our founding investors and longtime cancer screening advocate Dr. Ronald Shore. His wife Paula passed away from lung cancer, and she is now the namesake for our early detection test for Lung Cancer, PAULA's Test (also an acronym for Protein Assay Using Lung cancer Analytes).
Q. Was your Crowdfund platform team helpful?
A. Yes - they walked me through the process and helped with tips to be successful. They have walked me through the entire process from start to finish.
What they say about dbbmckennon
Q. Why did you choose dbbmckennon?
We found them to be cost effective, timely, and very responsive to our inquiries.
Other Service Providers Used
We recommend the law firm of Bevilacqua PLLC because they have special expertise in equity crowdfunding. http://bevilacquapllc.com/