Closing the gaps in hormonal healthcare with Sylvia Kang from Mira
10 Sep 2024 (2 months ago)
Mira's Mission and Focus
- There is a lack of research and data available regarding women's hormonal health, particularly when it comes to continuous tracking of hormone levels. (10s)
- Sylvia Kang started the company, Mira, to directly address the lack of focus on women's health. (30m58s)
- Mira is a company that collects data on hormonal patterns to help women understand their bodies and fertility cycles. (41m7s)
- Mira is working on expanding beyond fertility to address other women's health issues, such as mental health and hormonal imbalances like PCOS and endometriosis. (36m31s)
- Mira aims to address hormonal health effectively across various life stages, including pre-conception, menopause, and beyond. (37m41s)
Mira's Product and Services
- Mira is a women's health company founded around 2017 that focuses on hormonal health by providing at-home hormone testing and analysis. (1m53s)
- Mira offers a device called the "Mira Monitor" which allows users to test multiple female hormones (LH, estrogen, progesterone, FSH) using urine samples at home. (3m22s)
- Mira uses AI and medical advisors to provide personalized predictions and categorize hormone patterns and cycles. (15m43s)
- The Mira app allows users to compare their hormone charts to those of a similar population group based on factors like age and how long they have been trying to conceive. (16m14s)
- Mira's hormone tracking product helps users understand their fertility and can lead to pregnancy within 3 to 6 months for approximately 80% of users, costing a maximum of $4,500, significantly less than the $30,000 per cycle cost of IVF. (21m12s)
- Mira decided to implement a smart algorithm in 2017 to help users understand their hormone data. (26m11s)
- Mira's algorithm evolved to include personalized recommendations, reminders, and lifestyle change suggestions. (27m39s)
- Mira uses a "smart algorithm", which is a term used to describe what is now popularly called AI. (42m14s)
Mira's Business Model and Approach
- Many women are choosing to delay starting a family in order to focus on their education and careers, leading to an increase in the use of IVF and IUI. (5m47s)
- Consumers are interested in learning more about their hormone levels and how they impact their health, but some doctors were initially hesitant about providing patients with this data. (8m30s)
- When pitching Mira to investors, Sylvia Kang found that many male investors were skeptical of the product's potential success, often basing their opinions on their wives' experiences with fertility. (10m30s)
- Doctors were initially hesitant about the product due to limited research, but some were curious about its potential applications, especially for unexplained infertility. (13m35s)
- Mira chose a direct-to-consumer approach because consumers showed a stronger interest in hormone testing and had a better acceptance of hormone tracking. (14m36s)
- Mira, initially a business-to-consumer (B2B) company, transitioned to a direct-to-consumer (D2C) model, requiring Kang to adapt her skills and learn new approaches. (31m35s)
- While not currently covered by insurance, Mira is covered by FSA and HSA and is working with fertility benefit companies like Maven and Carrot to provide coverage for their employees. (22m17s)
- As a medical device company, Mira adheres to FDA regulations, including rigorous quality management systems, design control processes, and maintaining comprehensive design control and history files. (23m27s)
Mira's Research and Collaboration
- There is a lack of research and innovation in women's health, particularly in areas like PCOS and endometriosis treatment and diagnosis. (12m21s)
- Mira collaborates with research institutions and universities to further research hormone patterns and treatment efficacy. (28m38s)
- Mira is considering expanding its data collection to other hormonal conditions that affect women, such as menopause. (43m18s)
Mira's Culture and Team
- Mira has a team of 120 employees and prioritizes a culture of open-mindedness, innovation, and support, particularly for female employees, who make up a significant portion of their leadership team. (32m48s)