This private company believes it has stumbled onto a treatment Big Pharma has missed
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A lack of money in the retail market is the only thing holding back MediKane, a company that makes natural treatments for diabetes and constipation, according to its chief financial officer.
MediKane develops and sells plant-based, natural products designed to help treat diabetes and other common chronic health problems, including severe constipation. Its two main products, NutriKane D and NutriKane +, both have clinical testing to back their efficacy.
The company sells the products online through a subscription model and via distributors, and David Slatyer, the CFO, says demand is high for its unique products.
“It’s a very interesting story, the two founders came across an ingredient that had amazing health results and now we’re five years down the track with a plant-based product that’s a breakthrough,” he says.
“We’ve got strong sales data for our products and also for white-labelled products. People can’t believe we’ve come up with a solution that Big Pharma hasn’t be able to.”
Take NutriKane D, the drug targeted at treating diabetes. There is no effective treatment for diabetes, though it can be mitigated through a healthy diet and exercise (and of course, type 1 diabetes must be treated with insulin injections).
MediKane’s marketing materials speak to the evidence behind NutriKane D, saying blood sugar levels were observed to be 2.2 times lower in patients who took NutriKane D compared to those managing their diabetes via diet and exercise alone.
Slatyer says that despite all this, it is has been a frustrating process trying to further commercialise the treatment.
“It is taking longer than we anticipated as we’re a plant-based product competing against drugs,” he says. “A lot of people don’t understand the product, perhaps we aren’t quite sexy enough.”
The company is looking to raise between $3 million and $5m in efforts to boost awareness of the products and gain further distribution.
“The biggest thing restricting us is a lack of money in the retail market,” Slatyer says. “So funding is something we’re really focused on right now because we believe we have a product that can make a real difference in people’s lives.”