Delee

Early Stage

Blood testing device for early diagnosis of cancer and treatment monitoring

Analytics

Raised to Date: Raised: $1,070,000

Aggregate Commitments $

Platform

Republic

Start Date

12/11/2019

Close Date

04/24/2020

Min. Goal

$75,000

Max. Goal

$1,070,000

Min. Investment

$50

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$10,000,000

Discount Rate

0%

Rolling Commitments $

Status
Funded
Reporting Date

04/30/2020

Days Remaining
Funded
% of Min. Goal

1,427%

% of Max. Goal

100%

Likelihood of Max
Funded
Avg. Daily Raise

$7,926

Momentum
Funded
Log in or create a free account today to gain access to KingsCrowd analytics.
Location

Laredo, Texas

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2B

Margin

High

Capital Intensity

High

Business Type

Growth

Delee, with a valuation cap of $10 million, is raising funds on Republic. The company has created a device, CytoCatch, for the early detection of circulating tumor cells in the bloodstream. The device also assists in the personalization and optimization of the treatment of patients and monitor the effectiveness of treatments. Thus, CytoCatch helps to increase the chances of curing cancer and survival. Delee was founded by Liza Velarde, Juan Felipe Yee, and Alejandro Abarca in November 2016 and has already raised over $1.3 million in funding since its inception. The current round of crowdfunding has a minimum goal of $75,000 and a maximum goal of $1,070,000. Delee already has a fully functional technology that is being tested for prostate cancer.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$114,150

$309,441

Tax

$1,200

$0

 

 

Net Income

$-168,816

$-382,462

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$160,873

$646,306

Accounts Receivable

$163,877

$649,285

Total Assets

$644,162

$814,285

Short-Term Debt

$-1,333

$1,333

Long-Term Debt

$750

$2,057

Total Liabilities

$-583

$3,390

Financials as of: 12/11/2019
Log in or create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Delee 03/07/2022 StartEngine $22,040,057 $154,888 Equity - Preferred Active RegCF
Delee 04/24/2020 Republic $10,000,000 $1,070,000 SAFE Funded RegCF
Log in or create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Starter

$8.33 /month
billed annually
Free portfolio tracking. Limited reports and filters.
Plan Includes:
Everything in Free, plus
Advanced company search ( limited filters)
Founder profiles and exclusive webinars
2 Analyst Reports per month
Get Starter Annual

Pro

$25 /month
billed annually
Unlimited analyst reports and market analytics.
Plan Includes:
Everything in Starter, plus
Full access to all Analyst Reports
Filter on Staff Picks (e.g. Top Deal, Deal to Watch, etc.)
Market Analytics
Get Pro Annual

Merlin

$41.67 /month
billed annually
Full site access including Merlin ratings.
Plan Includes:
Everything in Pro, plus
Search and filter companies by Merlin ratings
Company specific Merlin rating and risk assessment
Get Merlin Annual
Already a member? Log in here.

Ratings

Analyst Report

Summary

Delee has been selected as a “Deal to Watch” by KingsCrowd. This distinction is reserved for deals selected into the top 10%-20% of our due diligence funnel. If you have questions regarding our deal diligence and selection methodology, please reach out to hello@kingscrowd.com.

Problem

While there have been significant advances in treating cancer, it is forecasted that cancer rates will increase by more than 50% and death rates will almost double in the next twenty years. Currently, cancer screening is available for specific forms of cancer such as breast, colon, prostate, lung, and others. These tests can only detect the cancer once it has formed in the body and begun to take hold. They do so by imaging a specific area, which requires significant human touch to identify, gather, and assess. Additionally, cancer tests are expensive and generally not ordered unless there is a known risk. 

Advances in cancer treatment have dramatically reduced the number of fatalities, but the key to this is early detection. The earlier the cancer is detected the higher the probability of beating it.

It is widely believed that cancer can begin developing in the body as early as 12 years before clinical symptoms appear. What if there were a simple blood test that could detect cancer when it was at the minute cellular level before it caused any problems?

Solution

Delee has created CrytoCatch, which uses a blood sample to detect 1 tumor cell out of 37.5 billion blood cells. This small machine initiates a rapid process in as little as 15 minutes to isolate a single tumor cell, thus identifying the start of cancer unimaginably early.

How is this possible?

In the majority of cancers, when a tumor develops, even if it is still localized, it releases malignant cells into the bloodstream, called circulating tumor cells (CTC). These cells have a key role in the establishment of metastasis in other organs.

Customers

CytoCatch is on track to be the second FDA approved CTC test by 2023. It will be the first for early detection of cancer, and it will provide valuable feedback for increasing the efficacy of cancer treatments. Prior to FDA clearance, CytoCatch will be marketed as a powerful research tool for pharmaceutical companies and researchers to improve their cancer treatment research.  

Competitors

CTC, the core technology in CytoCatch, was first given Current Procedural Technology codes at the beginning of 2013. Those codes are necessary to bill Medicare and insurance companies. CellSearch received FDA approval for its CTC technology in 2004 for monitoring metastatic breast cancer. It has gained further FDA approval for monitoring very specific cancer treatments. CellSearch, like the majority of CTC research, is used to evaluate the progress of a patient’s cancer treatment. This technology enables a more comprehensive assessment of whether the cancer is shrinking or growing after the cancer has been identified through clinical symptoms.  

Currently, CellSearch remains the only FDA approved CTC product on the market. There is no indication of a direct competitor to CytoCatch, which is focused on identifying cancer long before any known test.

Team

Liza Velarde, CEO, and Co-Founder – Ms. Velarde’s charisma leaps through the phone. She has a passion for her company and is quick to identify gaps she and her co-founders have and how she has been able to access experts to fill those gaps. 

She started Delee while finishing her degree summa cum laude at Tecnologico de Monterrey. According to Delee’s marketing, Ms. Velarde is responsible for creating the company’s relationships with hospitals and research institutions. She was awarded the prestigious Cartier Women’s Initiative Award and the WeXchange. In 2019, she also co-founded Zen Fluidics, a line of products to empower researchers to develop unique microfluid applications.

Why We Like it

  • Model: Delee is uniquely positioned for revenue pre-FDA and post-FDA approval. The post-FDA approval is the most lucrative part of Delee’s business model, but it is noteworthy for Delee’s innovation to have revenue before FDA approval.
    • Delee will sell the CytoCatch machine to researchers prior to FDA approval. In addition to the sales price of the machine, Delee will gain revenues via sales of the necessary reagents and consumables to perform each test.
  • Market Gap: Delee’s strategy is to attack cancer detection before there are any clinical symptoms. This innovation is a market gap many do not have the imagination to pursue. Further, Delee intends to begin testing for prostate cancer first. This focus will be a significant step in cancer treatment because, according to Ms. Velarde, women’s cancer is currently the only one with an early detection test. Providing a male cancer screening will be a significant step for male cancer treatment and will further differentiate Delee’s product.
  • Clinical Trials: To save money on costly clinical trials, trials will be conducted in Monterrey, Mexico. Delee will pursue United States FDA approval but all testing and engineering will occur in Mexico, allowing significant cost savings.

The Rating: Deal To Watch

“Cancer is curable, the problem is the lack of timely information.” – Ms. Velarde 

Ms. Velarde has the type of drive and vision to realize the seemingly impossible with CytoCatch. While she was still at University, during an elevator ride, she pitched Delee to the Heineken CEO Jean-Francois van Boxmeer and convinced him to donate funds to the first prototype.

The Delee team is using an almost twenty-year-old technology, CTC, which never gained the expected promise with still only one FDA approved product in the market. While cancer treatment is a very crowded market, diagnosis before clinical symptoms is not. This young, energetic team might just have the formula to radically change cancer.

Other Deals

Responsum Health on Republic 2021

The company has created free and disease-specific apps to provide support and knowledge to people with chronic conditions. The apps…

Valuation Cap: $4,500,000
Min Investment: $100
Industry: Healthcare & Pharmaceuticals
Raised $56,026 of $1,070,000 max
RegCF

JOGO Health on Wefunder 2021

The device is connected to a patent-protected mobile app that provides treatment protocols and games that work on neuromuscular reeducation,…

Valuation Cap: $20,000,000
Min Investment: $100
Industry: Healthcare & Pharmaceuticals
Raised $3,417,309 of $3,500,000 max
RegCF

Koning on Republic 2021

The Koning Breast CT creates high-contrast 3D breast images with high spatial resolution and no painful compression. Dr. Ruola Ning…

Valuation Cap: $200,000,000
Min Investment: $100
Industry: Healthcare & Pharmaceuticals
Raised $587,984 of $5,000,000 max
RegCF

Create your first portfolio

Create your very own investment portfolio on KingsCrowd.

Now you can track all of your startup investments in one place utilizing our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Delee on Republic
$
Platform: Republic
Security Type: SAFE
Valuation: $10,000,000
Invest in a different round for this company? Use my investment date to determine which raise I invested in.

Follow company

Follow Delee on Republic