The second 9/11 of the airports – so defines a CEO
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Hebron will yield the change seen in the wake of the corona in the coming decades, a change that also explains, he claims, the need for systems developed by Saint-Tank, which will be merged into Next Jen, whose stock is up 8% following a report it issued. If you look at the current sales, of 5 individual systems, the things of Hebron sound quite optimistic.
Saint-Tech is developing diagnostic systems through exhalation to detect corona and other diseases, and has announced an order for 100 units for future sales. The future is in its place, at present the company reported the sale of 5 systems to the Emirates, amounting to 0.7-1 million euros according to estimates. It should be noted that the systems are still in the validation stages (at Assaf Harofeh Hospital), and the initial results they presented were positive and met the threshold required to apply for FDA approval, and if they pass both tests, additional orders may be received.
The systems will be transferred to Saint-Tech by a German supplier, with the contract being for 5 years and as part of each order that Saint-Tech receives, it undertakes to deliver a minimum number of 5 systems (“We assume we will receive more orders soon, so we have already ordered the systems themselves”). Along with the corona, the system, called VOX, will also detect infectious diseases, tuberculosis and certain types of cancer, without the need for an invasive test. These systems can be updated and made to detect new mapped viruses as well. Another element in the system is the detection of several diseases / viruses in a single exhalation, instead of using several different systems.
At the present point in time it is easy to imagine the need for it due to the restrictions on traffic, however the big question is how useful it will be, and what is its market size, the day after the corona. “There is no situation that you will pass through an airport in the next 20 years without giving a breath test,” Hebron claims, “the idea is to prevent you from transmitting other viruses.”
To this day that is what is happening. Will all airports change their conduct in this regard only because of the corona that will soon, hopefully, be behind us?
“The business is ultimately biological security. Before 9/11, were the airports checked as they are checked today? No. Since then no one has exploded on a plane, and yet they check like this. We talk to quite a few airports and security companies, recently joined us on the board Yaakov Amidror, who was the head of the National Security Council, and it seems to me that he understands a thing or two about security. I will say more than that – with the help of our test, people with the flu will no longer board the plane. ”
But today it is possible. And why in fact would an airline give up a paying customer just because he has the flu. They will tell you “to catch up with some passengers on the way, what happened?”.
“A person can also catch and die from the flu. And airlines for their part may also want to bring positive passengers to Corona – but they do not determine, but the regulator.”
And do you really think the regulator will adopt an approach that bans flu patients from boarding flights?
“Obviously. Regulators are already looking for it today, and talking to us from airlines, for example. Also about tuberculosis, for example, and who even talked about tuberculosis to date? There are 10 million patients a year, and 1.5 million people die from it. It is usually in third world countries, but As the world becomes more global, people in developed countries are beginning to fear it as well. ”
The reason we are delayed at the airports, is that as Hebron explains, the economic model in the production of these systems revolves mainly around them. “I want to make the most money per system and aim for an annual revenue of $ 0.5-1 million each. It obviously depends on the traffic, which means how many tests you will be able to do, and the places that need the most biological security, and that’s what I’m aiming for.” Apart from the income that each machine produces, it is estimated that Saint-Tech buys them for about $ 70,000, and sells for 2-3 times more.
Also, down the road, the company plans to turn to the field of medical diagnostics, ie it will use their systems for the purpose of monitoring patients, or in such and other clinical trials. Here it is advisable to qualify things and say that it all depends on the level of accuracy of the system in detecting the diseases. In Corona, the systems showed an accuracy of 98%, but if by exhalation they could not detect a sufficient level of cancer, for example, there is no reason to use its development and prefer it over more invasive tests – but also more accurate. Another vision for the date.
In April 2020, Hebron began serving as CEO of Next Jen. In the last 12 months, and following the expected merger with Saint-Tech, Next Jen’s share has risen by no less than 2,000%. Since the beginning of January alone, the share has added 150% to its value. And today the company is traded at a value of about NIS 240 million.