Improve patient lives and drive-down health care costs by providing innovative implantable pump systems to manage fluid overload within the body

1. CFO in a Start-up environment – Dealing with
Creativity, Structure and Changes

2. Clear concepts
Motivation & Integrity
Passionate
Management
Human Resources
Production
Engineering
Sales
Operations
Creative - Structured
Dynamic - Conservative
Reassessment
Start-Up
Computer Science
Project management
IT-innovation management
Data structuring
IT
Business plan modeling
Financial rounds
Controlling & Reporting
IR, Legal & IP
Finance
Corporate Governance
Management Accounting
Business & Industry
Marketing & Operations
Business
Administration
Phil Huber

3. Concept developed in California, US
Company Founded in Switzerland in 2006
Company Mission
Improve patient lives and drive-down health care costs by
providing innovative implantable pump systems
to manage fluid overload within the body
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4. The automated low-flow ascites pump system is
an intelligent pump, charging device and patient monitor
What It Is How It Works
alfapump &
catheters
smart charger
remote data
monitoring
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5. Product platform:
Fully implantable battery
powered pump system
that continually collects
and moves excess fluid
Have identified four key fluid management markets that
can benefit from an automated pump system therapy
Fluid Overload due to End-
Stage Renal Disease
Fluid Overload due to
Congestive Heart Failure
Ascites Independent of
Underlying Disease
Chronic Pleural Effusion
Target Fluid Management
Patient Conditions
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6. Creativity
„An essential aspect of creativity
is not being afraid to fail. “
Edwin Land
„Creativity involves breaking out
of established patterns in order to
look at things in a different way.“
Edward de Bono

7. Creativity – a “SWOT” analysis
Market
advantage
Analyze
Check
costs
„OUTCH“
Opportunity:
right product
Threat:
wrong product
Strength: drives innovation
Weakness: drives resources

8. • Keep the big picture – the market in focus
• Watch where the money and time is spent
• Evaluate; i.e. Quality Control uses the 5W Method
Creativity – what can a CFO do?

9. Structure
„…The higher your structure is to be,
the deeper must be its foundation. “
Saint Augustine
„Structure is more important than
content in the transmission of
information.“
Abbie Hoffman

10. Structure – the focus changes
Research
Development
Clincal
Regulatory
Quality
Manufacturing
Commerical

11. Structure – changes affect all levels
Structure
Company
OrganizationProcesses

12. • Build an organization for the future
• Budget the changes, keep forecasting
• Hire overqualified
• Fill gaps with consultants
Structure – what can a CFO do?

13. Changes- Restart Today
„If you find out, that you are riding a dead horse,
…“
Tribal Wisdom of the Dakota Indians

14. Changes
„If you find out, that you are riding a dead horse,
…“
Tribal Wisdom of the Dakota Indians

15. Changes
Right Strategy Wrong Strategy
CONTINUE
STOP
Type I
error
Type II
error

16. …quite human reasons not to stop a project:
1. Against intuition
2. Admitting failure
3. Remaining uncertainty
4. Sunk cost bias
5. Bad risk / reward profile

17. Changes – allow them
- Error detection means survival
- Personal integrity
- Safes money
- … and last but not least

18. Changes
„You are never too old to set another
goal or to dream a new dream.“
C. S. Lewis
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