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Chris Prentice, Harmonic Bionics - Digitized Shoulder Health | LSI Europe '22

Speakers

Chris Prentice

Chris Prentice

CEO, Harmonic Bionics
Read Biography
Harmonic Bionics is a robotics company developing exoskeleton solutions to improve and rehabilitate movement impairments due to neurological and musculoskeletal disorders. The company's lead product, Harmony SHR, is a bilateral, upper-extremity exoskeleton designed to optimize upper-extremity rehabilitation.

Transcription

Christopher Prentice  0:04  

Hello, I'm Christopher Prentice CEO of Harmonic Bionics. If I had nine seconds to tell you what we do is we digitize and automate shoulder health, and then reps, eight minutes and so I'll try and expand upon that. Shoulder health is a large problem, there's many different disease states that lead into it. One of the key ones is stroke. That's a neurologic deficit, that you no longer have control of the arm, and then becomes a orthopedic deficit. Because of that. In the world, there's about 12 million strokes per year, the majority of them have upper extremity issues. Additionally, in the United States, there's just under 800,000 strokes every year new incidents about 7 million people with chronic stroke, orthopedic shoulder injury between vehicular trauma, sports, working out just everyday daily life, as we as the population ages, more and more new incidents of shoulder injury occur 4 million in the US alone. And then chronic conditions that due to the symptoms of the conditions helped to create a degradation in movement in the upper extremity, which affects the shoulder, any distal movement of the arm starts with the proximal proximal motion of the shoulder. How is shoulder care being delivered right now, it's being delivered by a manual population. We are very heavy people on people. And we cannot scale the caregivers, the clinicians to the level of demand that there is for shoulder care, these are six to eight years your training to be able to be able to move a person appropriately. You just cannot scale that fast enough. There's lengthy education requirements. And the nature of the work itself is arduous, it's repetitive, it's stabilizing a patient, it's moving a patient. These are definite applications for robotics, in order to make it a more optimized process and procedure. So when we talk about the status quo, it is heavy people on people. Here we're in London, I took a picture from Wales, Wales, that's that's a session with a stroke victim where there's a caregiver, a clinician who has to stabilize the patient, one who actually is the motor for the patient and the other observing, we can't scale that in order to increase access. And to increase the dosage and therapy that's necessary for these patients. We have to bring technology and thus harmony SHR, Harmony SHR's and upper extremity robotic system. Two fold applications to it helps with the assessment of the shoulder, we heard about mapping the body while we can do a digital three dimensional map of shoulder function that will help to inform and also control the therapeutic process. So quickly, the system itself. And I encourage you to go to Instagram, our website harmonic bionics, we have lots of videos on it. But we know when you enter technology into the care site, you must make it easy, you must reduce fiddle factor. So we've made it easy to use automated sizing, memory on the sizing, quick click in and click out, you're not spending 10-15 minutes to get a patient in, you're clicking in and starting treatment. And then we have a multitude of different functions for the system, that the patient depending on their level of ability can do 90% of the work and the system will help with 10, or the opposite. The system will do 90% while the patient only can do 10. And we have the most dynamic range of motion of any technology in the upper extremity, we attack the scapula humeral rhythm, we are a robot that moves with the human, not necessarily for the human. This allows for us not only to map it, but also to enable even more therapies that haven't been done to date. So we talked about data, and what that can help inform. This is what we do, we are capturing in a dynamic fashion, your actual range of motion and force generation, which can help inform the clinician on what's going on. You may be strong at one point in the arc and weak at a certain point that helps to inform them what's exactly happening inside. It's not a static X ray picture. It's not a static MRI. It's a dynamic. That's how we move you need to know how you're moving and when the issue is occurring. Not only that, that we can have it connected in the cloud user interface helps to engage the patient. Just like you get your badges when you're on your peloton or whatever device you're using. You'll be able to be engaged and get your badges for working as your rehabilitation. And for the caregiver and the clinician having good data, we've we've watched him from Voice of the Customer and seen, the clinicians have to spend 15-20 minutes to to document what they just did in a session. It's already documented with Harmony. It's easily imported into electronic health record. So this level of data, this dataset has not been seen by the clinicians before. And what it can help do is inform them on what intervention you should do the intervention you did the outcome of it, the progress of it. So we see this as enabling of the advancement of therapy in the shoulder. Where shoulder care done well, I'll take the United States, for example, which will be our beachhead. There's 1200 inpatient rehabilitation facilities and they're building more if you look at the number of books, bricks and mortar, new sites that are being built, you'll see that an inpatient rehab hospital is one of the top ones, there are 2500, comprehensive outpatient centers, these are ones that handle all the disease states we're talking about. So the just that footprint, that facility footprint is the same type of of the addressable facility market that we had in the early days of intuitive and Mazhar, it is a large, different bricks and mortar to go after. Now, we also have a product plan that will allow us to be into the skilled nursing facilities 15,000, and ortho and PT clinics, with different form factors have our base technology. Eventually, of course to the home. My big, hairy audacious goal is I can go into a gym and beyond very complex equipment to to lift and get more strength. Why shouldn't the population be able to go into that same gym and be able to also have the access to harmony for function and assessment? traction, we are a 510 K exempt class to product. Our path right now is we're in the verification validation process. Target is to commercialize and halfway through 2023, we are able to sell to research institutions prior to that FDA registration. We sold our first system to the University of Houston this year, we have three more purchase orders in hand that we're building the systems for and will install in the first part of 2023. And as the pandemic lifts, we're able to get into places now to show at the clinics and the facilities what harmie actually is and we're starting to queue up letters of intent. Going forward. We've had clinical use St Davids in Austin and currently at Shirley Ryan and Chicago. Our team, I'm blessed with colleagues with a depth of experience in human robotic interaction. Again, we are a robot that moves with a human, not for a human or in lieu of a human. Additionally, we have great experience in the design, development and commercialization of medical devices. We are based in Austin, Texas, so I'd like to use a Texas term. This ain't our first rodeo. Where we are from a fundraising standpoint, we've raised $12.5 million to date. We have an open convertible note bridge round between our A and our B. The B will occur next year for the full commercialization of the product. So as we reach for better shoulder health, I asked you to reach out and if you're interested, I'd love to tell you more of the story of harmonic bionics and the opportunity at hand. Thank you

 

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