A medical device to help cancer patients prevent chemotherapy induced hair loss.
The whole world knows that sudden hair loss means cancer, and millions of cancer patients wish it didn’t. Luminate Medical helps cancer patients prevent the hair loss caused by chemotherapy treatment with a wearable medical device that is patient-focused, portable , and effective.
Hair loss is a universally recognised signal of cancer, and is considered the most traumatic element of cancer treatment by 47% of patients, while also being linked to elevated risks of depression, anxiety, and relationship breakdown.
To date, no widely accepted solution to the need exists, despite widespread awareness and campaigning from patients and clinicians. Existing methods of preventing chemotherapy induced hair loss include cold caps and scalp cooling. There are several issues with this form of treatment, including severe pain for the patient, poor efficacy and reliability, and 2-3 hours longer hospital treatment times for patients. Consequently, the vast majority of patients have no access to hair loss treatment and still rely on wigs.
To meet this need, Luminate Medical has developed Lily – a wearable, portable, cap-like device which uses our proprietary compression therapy to prevent toxic chemotherapy drugs from reaching the hair follicles. Because the device is independently operable by the patient, Lily enables any patient, at any clinic, to avail of effective and reliable hair loss prevention treatment.
The total addressable market for chemotherapy induced hair loss is $4.5 billion in the US and Europe alone, with over 3 million cancer patients annually receiving chemotherapy treatments which place them at risk of hair loss.
Currently, 84% of patients in the target market purchase a wig to conceal hair loss. At an average spend of $1095, this demonstrates the extent of the latent demand in the space, creating a highly attractive commercial opportunity to capture this multi-billion dollar spend with a patient-focused preventative solution.
Luminate Medical’s Lily device uses a novel technology approach to meet the key customer criteria - namely eliminate additional treatment times in hospital, improve efficacy and reliability, and provide a comfortable and easy-to-use method for patients to prevent hair loss during chemotherapy.
Luminate Medical is developing a portfolio of medical devices which revolutionise the patient experience of cancer treatment, starting with hair loss. Through participating in Big Ideas, Luminate Medical is seeking to share our ambition of revolutionising cancer treatment and connect with people who want to join us in that mission.