OpiAID Company Profile

Background

OpiAID, founded in 2018 and headquartered in Wilmington, North Carolina, is a data science company dedicated to transforming the treatment of substance use disorders (SUD), with a particular focus on opioid use disorder (OUD). The company's mission is to empower clinicians by providing advanced, personalized, and data-driven solutions that enhance patient care and improve recovery outcomes. By integrating cutting-edge technology with compassionate care, OpiAID aims to redefine addiction recovery and address the opioid epidemic through innovative approaches.

Key Strategic Focus

OpiAID's strategic focus centers on enhancing Medically Assisted Treatment (MAT) programs by leveraging artificial intelligence (AI) and machine learning to analyze real-time biometric data. The company's core objectives include:

Data Integration: Combining electronic health records (EHR) with biometric data from wearable devices to create a comprehensive patient profile.

Predictive Analytics: Utilizing proprietary algorithms to detect acute substance use and quantify withdrawal symptoms, thereby enabling timely interventions.

Clinical Decision Support: Providing clinicians with actionable insights through an integrated dashboard, facilitating personalized treatment plans and improving patient retention rates.

OpiAID primarily targets MAT clinics and healthcare providers specializing in opioid addiction treatment, aiming to improve patient outcomes and reduce relapse rates through data-driven methodologies.

Financials and Funding

OpiAID has secured significant funding to support its research and development initiatives:

2020: Received a $276,000 Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH), supplemented by a $75,000 matching grant from the North Carolina Department of Commerce.

2022: Awarded a $50,000 NC IDEA SEED grant to accelerate scaling efforts.

2023: Secured a $2.8 million Fast Track SBIR grant from the National Institute on Drug Abuse (NIDA) to conduct comprehensive studies on biometrics in OUD treatment and to support FDA clinical trials.

These funds are allocated towards refining OpiAID's algorithms, conducting clinical trials, and expanding the company's technological capabilities to enhance addiction treatment solutions.

Pipeline Development

OpiAID is actively developing and deploying its AI-driven platform designed to integrate with wearable devices and EHR systems. Key developments include:

Clinical Trials: Initiated a two-arm multisite FDA clinical trial in North Carolina, West Virginia, and Arizona to validate the efficacy of its technology in real-world settings.

Strategic Partnerships: Collaborated with Bicycle Health, a leading virtual opioid addiction treatment provider, to pilot the use of wearable technology in monitoring patients during the critical initial weeks of treatment.

Geographic Expansion: Finalized a contract with the state of Alaska to deploy OpiAID's technology across clinics, aiming to reach up to 41,000 patients statewide.

These initiatives are aligned with OpiAID's goal to enhance patient monitoring, improve treatment personalization, and reduce relapse rates through data-driven insights.

Technological Platform and Innovation

OpiAID's platform stands out due to its integration of AI and machine learning with wearable technology to support addiction recovery:

Proprietary Algorithms: Developed algorithms capable of detecting acute substance use with 96.9% accuracy and quantifying withdrawal symptoms with 98% accuracy, pending FDA approval.

Wearable Device Integration: Utilizes commercially available wrist-worn devices to collect real-time biometric data, such as heart rate and movement, providing continuous patient monitoring.

Data Analytics: Applies machine learning techniques to analyze aggregated data, offering clinicians actionable insights through a user-friendly decision support dashboard.

This innovative approach enables personalized treatment plans and timely interventions, significantly enhancing the effectiveness of MAT programs.

Leadership Team

OpiAID's leadership comprises experienced professionals dedicated to advancing addiction treatment:

David Reeser: Founder and Chief Executive Officer. Reeser brings a background in radiology and business development, leading OpiAID's strategic vision and growth initiatives.

Dr. David MacQueen: Chief Science Officer. Oversees the scientific research and development efforts, ensuring the platform's efficacy and compliance with medical standards.

Jesse Shaw: Chief Operating Officer. Manages the company's operations, focusing on scaling and operational efficiency.

Christian Pardue: Chief Product Officer. Leads product development, ensuring the platform meets the needs of clinicians and patients.

In February 2024, entrepreneur Dino Miliotis joined OpiAID as a spokesperson, bringing his personal experience with addiction recovery to advocate for the company's mission.

Competitor Profile

Market Insights and Dynamics

The opioid addiction treatment market is experiencing significant growth due to the escalating opioid crisis. The integration of technology in addiction treatment is becoming increasingly vital, with a focus on personalized care and real-time monitoring to improve patient outcomes.

Competitor Analysis

Key competitors in the space include:

Pear Therapeutics: Develops digital therapeutics for substance use disorders, offering FDA-approved mobile applications that deliver cognitive behavioral therapy.

DynamiCare Health: Provides a digital platform that uses contingency management and remote monitoring to support addiction recovery.

Bicycle Health: Offers virtual care for opioid addiction, focusing on medication-assisted treatment through telehealth services.

OpiAID differentiates itself by integrating real-time biometric data from wearable devices with AI-driven analytics, providing a comprehensive and personalized approach to addiction treatment.

Strategic Collaborations and Partnerships

OpiAID has established several strategic partnerships to enhance its market position and technological capabilities:

Bicycle Health: Collaborated to pilot the use of wearable technology in virtual opioid addiction treatment settings, aiming to improve patient monitoring and outcomes.

State of Alaska: Secured a contract to deploy OpiAID's technology across clinics statewide, addressing the unique challenges of providing addiction treatment in remote areas.

Coastal Horizons: Partnered with this Wilmington-based clinic to distribute wearable devices and integrate OpiAID's platform into their treatment programs.

These collaborations aim to expand OpiAID's reach and validate its technology across diverse treatment settings.

Operational Insights

OpiAID's strategic considerations include:

Market Positioning: Positioning itself as a leader in AI-driven addiction treatment solutions by offering a unique combination of wearable technology and data analytics.

Competitive Advantages: Providing real-time, personalized insights that enhance clinical decision-making and patient engagement, setting it apart from competitors focusing solely on digital therapeutics or telehealth services.

Regulatory Compliance: Pursuing FDA clearance for its technology to ensure compliance and build trust among healthcare providers and patients.

By focusing on these areas, OpiAID aims to solidify its position in the addiction treatment market and drive innovation in the field.

Strategic Opportunities and Future Directions

OpiAID's strategic roadmap includes:

FDA Approval: Completing clinical trials and obtaining FDA clearance to validate the efficacy and safety of its platform.

Product Expansion: Enhancing the platform's capabilities, including the development of a mobile application to extend support beyond clinical settings.

Market Expansion: Scaling operations through strategic partnerships and licensing agreements to reach a broader patient population across various regions.

Leveraging its technological strengths and collaborative approach, OpiAID is well-positioned to drive significant advancements in addiction treatment and recovery.