LockedBrands

Bottom Line:  33,000+ opioid involved overdose deaths and up to $600 billion, annually.  

Redefining Secure Storage

LockedBrands was founded in 2017 with the goal of creating a solution for the prescription drug abuse and opioid epidemic.

The Problem & Solution

In 2017, the United States Department of Health and Human Services declared a public health emergency due to the opioid crisis. Founder & CEO, Justin Monger, like so many Americans, was directly impacted by the crisis.  One of his siblings suffered from addiction issues her entire adult life.  He saw first hand the devastation to the individual and the family.     

The Solution:  LockedBrands was founded in 2017 with the goal of securing opioids, controlled substances, and personal valuables. We initially launched on Kickstarter in late 2018 with The Pillar/StashCan: a portable, voice-activated, app-controlled personal lockbox.

The Pillar/StashCan is LockedBrands Gen 1 device.  It is ideal for storing meds and other valuables. The Pillar/StashCan is in production and available online and in-stores.  Our Gen 2 device, the Secure Med Manager (SMM) is in development now.  The SMM not only secures meds, like The Pillar, but also dispenses them only to the patient, and only per the doctor's prescription, and generates a compliance record in the cloud.  Further, if tampered with, it shuts down and notifies the healthcare team via the cloud.  The proof-of-concept prototype, shown above, was completed in April 2020. 

Watch this video to see all the capabilities The Pillar has to offer:

Watch this StashCan promotional video: 

Investor Testimonials - Hear What our Investors have to say

Dr. Sajad Zalzala, MD -  Wefunder Investor 

Briand Greer, Seed & Angel round Investor, Strategic Advisor for Asia

Bryan Waters, Angel Investor, Board Member & Strategic Advisor

LockedBrands Board Members are Investors as well

The success of LockedBrands is driven by more than our day-to-day staff.  It really is a team effort that includes our board members and investors.

Strategic Advisors

How We Are Making it Happen: Our Growth Story

Market Sizing for the Gen 1 Device

The total addressable market for the Gen 1 device, the personal lockbox, is over 60M in the US alone.  Taking into account Europe, Middle East, Asia, Latin America, and Asia Pacific the market sizing could easily triple.

Dual Positioning for Better Market Penetration

Having The Pillar and The StashCan as identical products, but positioned for different market sub-segments, allows us to focus our marketing based on the customer's needs. 

The StashCan Story

The rapidly emerging legal cannabis industry promises significant growth opportunities. Given its added complexities and regulations, we developed a second, standalone brand, StashCan, managed by ArxLabs, aimed at this expanding market. While non-traditional, we believe this dual-positioning and branding of our singular product will maximize growth.

MARKET SEGMENT 

The gadget-oriented/high-tech cannabis segment is estimated at 21M consumers. The StashCan is the leading storage solution for responsible cannabis users-- a smart device that provides access, sharing, logging, and voice-action through voice profiles from Amazon Alexa. The StashCan is also smell proof, delivering added discretion and peace of mind to its users.

LEADER IN RESPONSIBLE STORAGE

Whether prescription opioids, keys to a gun safe, or cannabis, consumers need a trusted solution for locking away and control access to personal items, particularly in the presence of children and young adults. LockedBrands will establish industry leadership by uniquely positioning Pillar and StashCan at the areas of greatest market need.

Market Access To-Date

The StashCan has demonstrated traction since its launch through MasterMinded in February of this year.  We have signed up over 60 authorized StashCan retailers since partnering with MasterMinded.    Pillar sales through retailers is picking up in Q3 with Sharper Image,  community pharmacies, and a specialized Blue Star Senior Tech retailer.  The direct to consumer (DTC) sales channel, which has the best margins, will be the marketing focus with funding from this crowdfunding campaign. 

Better than the Rest

Price point, coupled with key features like smell-proof, voice activation, and shared access put The Pillar (and StashCan) in a class of its own. 

Key advantages include:  Price point; Opens from anywhere; Voice-activation; Logs all access; Access without a key or combination; Smell proof.  For more details on the competition, please see the Investor Deck under Downloads.  

The Secure Med Manager

We have developed a proof-of-concept prototype for the SMM. It demonstrates some of the key functions as listed below.  Be sure to watch the lab demo below as well. 

Market Sizing for the Secure Med Manager (SMM)

The SMM has a significant total addressable market, (TAM), 58M in the US alone.  As with the Pillar, taking into account Europe, Middle East, Asia, Latin America, and Asia Pacific the market sizing could easily triple. 

Further, this sizing is limited to the two use cases above.  Taking into account senior living centers, retirement homes, Alzheimer's facilities and assisted living centers, the potential market grows significantly.  

While there are competitors trying to address both use cases described above, there is a very small number trying to address use case #2.  As a result, the SMM for those with chronic pain or opioid misuse disorder is the primary market thrust for the near term.  The secondary market for the SMM, Americans with two or more chronic diseases, will be addressed once the opioid version of the SMM is in low-rate-initial-production (LRIP), Q4 2021.

Go To Market for the Secure Med Manager

Reimbursement Strategy:  The SMM has multiple value propositions across the entire health care eco-system, including prescription providers, distributors, manufacturer rep firms, health insurance companies, health care providers, senior and assisted living facilities, and home care providers.  We are focused on selecting the right reimbursement strategy for a strategic partner in order to achieve quick market penetration.

Distribution & sales channels:  We have a signed letter of intent to support opioid trials in early 2021.  This will provide access to the Veterans Administration as well as provide trial data that will be crucial for the major pharmacy benefit managers (PBMs).  Grants:  We are always seeking non-profit partners for grants and other funding to support the on-going battle of the opioid crisis.  

Secure Med Manager Prototype

We have developed a proof-of-concept prototype for the SMM.  It demonstrates some of the key functions as listed below.  Be sure to watch the lab demo. 

Competitive Landscape for Secure Med Manager

Primary market - Use Case #2: Americans with chronic pain or opioid misuse disorder.

This is the primary market thrust for the SMM in the near term.  The primary competition for the secure storage and dispensing of opioids is the Take-As-Directed (TAD). It dispenses individual pills, as opposed to pill packs, like the SMM.  Therefore, the TAD cannot be used by the large number of patients that take opioids in combination with other controlled substances, eg opioids with anti-depressants. As a result, the market segment addressed by the SMM will not be the same as that addressed by the TAD.  The SMM also has strong tamper detect logic that shuts down the unit and notifies the health care team through the cloud should someone attempt to break into it.

Key advantages include:  Price point; Pill pack compatibility enables dispensing more than one controlled substance; Pill packs are very easy for a pharmacy to load;  Anti-tamper provides strong motivation for patients not to tamper with the dispenser.  

There is limited competition for the opioid use case.

Secondary Market - Use case #1:  Americans with two or more chronic diseases

How Your Investment Will Help

What can we accomplish with the funds? 

• We anticipate the business going cash positive in 2021 as a result of a significant marketing and sales effort. 
  
• Continue the development of the Secure Med Manager (SMM) production prototype with requirements definition and detailed design
• Complete Beta testing and support FDA trials for one of our strategic partners
• Seek alternative funding sources for the SMM through grants
• Complete manufacturing cost reduction effort by moving operations out of China and into a friendlier, more cost effective country

Secure Med Manager Development Schedule

If fully funded, this crowdfunding capital raise will fund the SMM development through Requirements Definition, Detailed Design / FDA Registration and into some amount of LRIP 1 and Beta testing.  The scope of Beta testing, coupled with the exact nature of our relationship with our  strategic partner, will determine what effort will be needed to get into LRIP 2 production.  LRIP 2 production will be followed by a regional roll-out of the SMM product. 

LRIP - Low Rate Initial Production