3c Bio

3c Bio

Mobile SARS-CoV-2 (COVID-19) diagnostic laboratories – 2,400 rtPCR tests per lab/day

Security Type
Convertible Note
Min Investment
Los Angeles, CA
Offering Date
July 29, 2020
Expected Close Date
October 27, 2020
Target Raise

Company Description

Management’s Discussion and Analysis of Financial Condition and Results of OperationsYou should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.Overview3c Bio aims to build, operate and sell mobile labs based on semi-trailer or container platforms, equipped with automated testing facilities for SARS-CoV-2, utilizing HIPAA compliant software for sample collection, notification, screening and contact tracing - primarily for workplace, event and passenger screening. Our system design employs robotic sample processing, high throughput rtPCR instruments, technologies and practices to increase speed while lowering testing cost. Selling testing services in the US will require CLIA certification and FDA Emergency Use Authorization.

Future pandemics are nearly certain. We want to be positioned to provide worldwide diagnostics for whatever threatening virus or bacteria appears next. We hope to be acquired by an existing diagnostics provider (LabCorp or Quest) or a major government contractor with interest in epidemic/pandemic prevention, or to have our excess lab capacity contracted by governmental agencies (these events cannot be guaranteed). In the future, if successful, with a network of labs available worldwide, we believe we will be in a unique position to prevent future outbreaks.

Given the Company’s limited operating history, the Company cannot reliably estimate how much revenue it will receive in the future, if any.Milestones3C Bio, Inc. was incorporated in the State of Delaware in April 2020.Since then, we have:

  • Built a start-up team and engaged expert advisors bringing talents in system design, bioengineering, fundraising, laboratory diagnostics, infectious disease, population health, marketing, FDA legal requirements, international sales.
  • Researched, then designed 40’,  53’ and dual 20’ (airlift capable) labs with optimized manufacturing methods, bill of materials, labor requirements, timelines to meet both US and international standards and logistics.
  • Established company and legal foundation, secured representation of top biotech law firm, built out early growth strategy, marketing, insurance, real estate requirements.
  • Preliminary interest and communication with customers on 4 continents regarding lab sales to private companies and to government health agencies.
  • Developed financial plans supporting the business case, including growth projections to meet differing public health scenarios.
  • Researched current SARS-CoV-2 testing methodologies with EUA/FDA approvals, CMS CLIA regulations, individual state certification requirements. Developed a plan to quickly implement CLIA approvals.
  • Established sampling/testing protocols and logistics for various use cases in a wide range of industry sectors. Developing specific marketing/sales strategies for those industries.
  • One of 11 winning companies in nationwide COVID-19 business plan competition that drew 2,500 entrants.
  • Closed a $50,000 pre-seed round that enabled us to engage experts and consultants and develop multiple iterations of lab designs
  • Applied for COVID-19 grants and competitions with various Government agencies, foundations, universities and others, with two currently in review.

Historical Results of OperationsOur company was organized in April 2020 and has limited operations upon which prospective investors may base an evaluation of its performance.

  • Revenues & Gross Margin. For the period ended July 17, 2020, the Company had revenues of $0.
  • Assets. As of July 17, 2020, the Company had total assets of $9,415, including $9,405 in cash.
  • Net Loss. The Company has had net losses of $53,280 for 2020.
  • Liabilities. The Company's liabilities totaled $62,685 for 2020.

Liquidity & Capital ResourcesTo-date, the company has been financed with $50,000 in convertibles.After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 6 months before we need to raise further capital.We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 1 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.Runway & Short/Mid Term Expenses3C Bio, Inc. cash in hand is $8,092.11, as of July 2020. Over the last three months, we have incurred one-time start up expenses of approximately $25,000. Going forward, we can curtail expenses and reduce burn rate to have at least six months of runway. Revenues have averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $8,000/month, for an average burn rate of $8,000 per month. We project profitability in approximately 4 months after completing construction of our first lab.

There are no material changes in our finances or operations since the date covered by our financials.

3-6 months after raising the at least $1M we project having a fleet of 1-7 labs in service, with each lab is capable of generating approximately $3M in monthly revenue at modest utilization. The timing of our revenue growth is speculative and dependent on pandemic market need, raising capital timely, building, outfitting and certifying labs, and selling labs and/or testing services.  We project expenses of $8k/month for the first 3-6 month if operating with our minimal raise. Once commercial, our expense projections vary according to the rate of bringing new labs into service, ranging from $2-10M per month once the company has labs in service generating revenue. We believe we'll need approximately $250,000 in capital to build the first lab.

We will also be in discussion in with venture investors as well as potential customers and corporate partners in parallel with our Wefunder raise, which will help fund short-term operations if needed. We believe that the getting started building labs with the Wefunder resources is likely to catalyze institutional investor interest.


Invest $1,000+ for 3C Bio SARS-CoV-2 Tee Shirt
$10,000+ Participation on quarterly calls with panel of coronavirus clinical and scientific experts
$25,000+ 3C Bio Lucite "Tombstone"
Invest $1,000+ for 3C Bio SARS-CoV-2 Tee Shirt
$10,000+ Participation on quarterly calls with panel of coronavirus clinical and scientific experts
$25,000+ 3C Bio Lucite "Tombstone"

Key Deal Facts

Labs will be built in 53' semi-trailers or 40' ISO containers. Deployable worldwide. Massive Scalability.
2,400 rtPCR tests per day/per lab. Automated robotic protocol, lower costs, same day results.
Large scale testing of industry, at-risk populations & events to screen for asymptomatic infections.
Using multiple labs we can scale to upwards of 5M tests per month in US - no new buildings or real estate required.
Revenue from USA testing operations and from US & international mobile lab sales.
Re-open the economy intelligently & create an infrastructure for long term pandemic monitoring.

Use of Proceeds

Purchase and partially build out 40' Containerized Lab including salaries, rent, miscellaneous overhead, intermediary fee.

Construct 40' Containerized and 53' Semi-Trailer labs including lab equipment, reagents and supplies, salaries, rent, G&A, intermediary fee.

Management Team / Advisory Board Bios

Mark Mendel
CEO & President
PhD, Bioengineering, University of Pennslvania, BS, Cornell. Previously with Broadmark Capital, co-founder of RiverVest Venture Partners, and Kauffman Fellow at ARCH Venture Partners.

D.A. Therrien
Chief Strategic Officer, Chief of Design
David Therrien’s work as entrepreneur, engineer and artist sits at the intersection of biological processes, information systems, engineering, and technology. Sponsors of his work have included Apple, Warner Brothers, and the Rockefeller Foundation.

Jason Goldman, MD, MPH
Epidemiology and Infectious Disease -
Clinical researcher focusing on clinical and translational trials include viral infections and infections in solid organ transplant recipients. He has taken a lead role with local institutions and clinical trials to address the SARS-CoV-2 pandemic.

Andrea Mander
Communications Director
Healthcare Innovation and Marketing Strategist. Experienced in implementing population-level workplace health solutions on a national scale.

Myyk Seok
Principal Software Engineer
BSE Electrical and Computer Engineering, Carnegie Mellon Volunteer Mechanic @ non-profit Freecycle & Bikery

Elliot Roth
Scientific & Business Development Consultant
University Innovation Fellow at the Stanford d.School. B.S. Biomedical Engineering at VCU, started multiple entrepreneurial projects including the DIYbio lab Indie Lab. 12 years experience in synthetic biology.

Keoni Gandall
Diagnostic Systems Scientist
Keoni Gandall is a biohacker from the Bay Area (Palo Alto, CA) who wants widespread democratic access to and optionality around biotechnology tools, with the end goal of being able to build fully synthetic and understandable cells.

Jordan Beer
Fabrication Lead
Experience building container laboratories and high-speed SpaceX hyperloop pods, certified welding inspector/welder, CAD drafter.
Amount Raised : $55,675
Reveal the Score by Voting
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

Research Reports

No reports have been submitted

Become a Reporter