At its inception, the founder of the Company, Michael Greenspan, conceptualized a gradual incremental market entry and growth program. The Sambria Pharmaceuticals growth plan began with the development of a topical anesthetic product capable of rapidly penetrating the skin without entry of the intact active pharmaceutical ingredient (API) into the circulatory system. The purpose of the creation of this type of product was multi-faceted. Most competitive products have an extended period prior to the initial onset. In medicine, rapid onset is important because reduction in treatment time leads to an increase in the number of patients the clinician can see daily. The second reason for the creation of this type of product is that there is an inherent adverse health risk of lidocaine and related products entering the blood stream in high volume. Therefore, the Sambria Pharmaceuticals growth plan began with the development of its delivery system capable of satisfying two very important objectives, rapid-onset and limited entry of the intact API into the circulatory system.
Once the development goal was achieved the second part of the Sambria Pharmaceuticals growth plan was to validate its safety and efficacy features with approved formal studies. The studies included in the Sambria Pharmaceuticals growth plan were designed to investigate whether or not the product would in fact enter the skin rapidly while also limiting the entry of the API into the human test subjects’ blood streams. The studies demonstrated the success of satisfying both goals.
The next step in the Sambria Pharmaceuticals growth plan was to manufacture some beta test product and product packaging to investigate the commercial capability of the product. The initial branding and packaging did not pass the test. The first line branding team conceptualized an aggressive, edgy trademark and name. The team came up with the name Predator Pain Cream with a tiger look and feel and claw marks as the brand. This brand did not meet the standards of the primary target markets and failed. The founder, Michael Greenspan, took the near-term role as branding manager and created the NeuroMed brand. This brand and associated packaging succeeded, in terms of market acceptance from a beta test group of clinical customers. From this point, the next step in the process was incremental commercialization.
Initial commercialization began in earnest with founder, Michael Greenspan, loading up appropriately branded tubes of NeuroMed 7, 4% topical lidocaine cream and traveling door-to-door to a clinicians covering a wide variety of specialties. This stage continued for nearly one year. Among the specialties initially tested were, orthopedics, podiatry, pain management, oral surgery and dentistry. The Company enjoyed a very small amount of success within these specialties, however, not enough to build a profitable base. At that point the Sambria Pharmaceuticals growth plan had to be altered to include higher value, higher volume specialties. The Company managers determined that the medical aesthetic specialties were a possible solution to its low volume sales the previous year. Upon entering the medical aesthetics market (aesthetic dermatology, plastic surgery and medical spas) the Company found its first, high volume market. The Sambria Pharmaceuticals growth plan included a jump from single office physician sales using its own growing independent sales team to regional and national distributors of aesthetic medical device distributors. The Company attempted aligning itself with a small number of “mom and pop” type distributors since, at the time, the brand still required broad market recognition. After a year and a half of working with the small distributors, the Company secured its first larger national distributor, Eclipse Aesthetics. This relationship brought Company products to the national level, however, under a private brand. While this relationship helped to build the reputation of the proprietary formulation as well as increase Company revenue to a break-even level, it did not satisfy one of the primary goals of the Sambria Pharmaceutical growth plan, universal brand recognition.
The next stage of the Sambria Pharmaceuticals growth plan was to secure distribution among additional healthcare specialties. The first step in satisfying this next objective of the Sambria Pharmaceuticals growth plan was securing a relationship with Metro Medical, a Cardinal Health Company. Metro Medical supplies professional healthcare product for renal care, specifically, dialysis centers. As this relationship and sales though it continued to grow incrementally, Company secured a distribution with Medline Industries, a professional healthcare product distributor that supplies physician offices, surgery centers, hospitals and home healthcare companies. By the end of 2016, Sambria Pharmaceuticals sold nearly $1 MM worth of its launch product, with an estimated outlook of nearly $4.5 MM for the 2017 calendar year.
The next stage of the Sambria Pharmaceuticals growth plan includes the securing of additional distribution agreements with other national and international healthcare products distributors, expand distribution among its current variety of distributors and add additional products to the market using its proprietary delivery technology formulation.
The final stage of the Sambria Pharmaceuticals growth plan is to license its proprietary delivery system to other pharmaceutical and consumer healthcare products companies as its secondary revenue stream.