NAME REBRANDS can fall victim to unnecessary complication by attempting to encapsulate a company through indecipherable acronyms or abstract themes.
In the case of Rhinomed – formally known as Melbourne-based ASX-listed Consengna (ASX:CGP) – their newly adopted corporate identity says it all.
Drawing inspiration from the Latin rhino, Rhinomed is a nasal and respiratory technology company seeking to dramatically improve breathing by dialling up the efficiency and function of the nose.
Rhinomed is preparing to turn a new page in its five-year journey as a listed company as it readies to launch its first product, consolidate a number of recent corporate and market developments and book its maiden revenues in late 2013.
Having appointed ex-Nike and AFL executive Jane Ballantyne as Chief Marketing Officer, Rhinomed recently announced ChinaMed as its global manufacturing partner ahead of launching ‘The Turbine’ in November, with a pack of three devices retailing at $24.95.
“Rhinomed sought to partner with a manufacturer who could work with the company and provide significant value right across the development and commercialisation of the company’s technologies,” CEO and Executive Director Michael Johnson said.
“After considerable assessment, the company partnered with ChinaMed as an FDA certified, ISO and GMP compliant manufacturer with a focus on medical and specifically respiratory technology manufacturing.”
While Rhinomed is developing products for a wide range of applications, its initial focus will be on the lucrative sports market.
Resting inside the nose, ‘The Turbine’ improves the efficiency of the nose and therefore boosts and athlete’s performance. Testing shows the device can increase air flow to the lungs – the holy grail of aerobic activity – by 38%.
Mr Johnson said the US presented a huge potential market for the Turbine.
“There are more than 40 million cyclists in the US alone, and 51 million Americans are members of a health club,” he said.
In Australia, more than 4 million Australians ride a bike every week, while the bike and accessories market is worth $1 billion.
“Much like other equipment used by athletes, we are positioning the Turbine as an essential component of high performance activity, which is readily accessible to the general public,” Mr Johnson said.
“There is a strong existing market for the Turbine and given its advantages over competing products, we are confident of converting years of research and development into revenues this calendar year.”
Beyond applications in sport and general exercise, Mr Johnson said Rhinomed will also target the Turbine at sleep disorders including snoring and sleep apnea, the well-being sector (yoga, Pilates, weight management) and drug delivery for migraine and sinus diseases.
“The company is targeting an initial market that has a proven track record of being early adopters of new technolog
“This focus on targeting clear referral markets for wider adoption and acceptance by a larger mass market will be critical to our success.”
With a forthcoming product launch, divergent revenue streams, new products targeting snoring and wellbeing, and a new clinical program in sleep apnea and drug delivery to launch in 2014, Rhinomed’s corporate relaunch is far from cosmetic.
WHAT Is THE TURBINE?
-Medical grade polymer device which rests inside the nose -Works by opening the nasal airways for controlled, efficient breathing -Design based on elite athlete user testing -18 patents either granted or pending -Launches in November 2013 in two sizes"
