Christine Horton, Visura - Providing Physicians Real-Time Visualization | LSI Europe '22

Transcription

Christine Horton  0:06  

Good morning, everybody. All right. So Visura Technologies is a manufacturer of the world's first FDA cleared disposable camera that seamlessly connects to a trans esophageal echocardiogram probe or TEE probe. So we provide physicians with real time visualization for a more efficient and effective probe placement. So we've heard a lot about innovation. But this is a very simple and elegant innovation, that's also cost effective 510 K cleared for an unmet market need fully disposable unreimbursed strong patent portfolio, full quality system in place founded in 2015 7.5 million invested to date, core leadership team has about 120 years of medical device experience. And we just commercialized in June of this year, with a big exclamation point behind that. So TEE is a very, very common procedure. And in the United States, about 650,000 of those annually, growing about 14% a year depending on which numbers you believe, but nonetheless, it is definitely growing. So there are failed intubation. So and the very real, very real problem. So if you look at the average number of intubations that are done, and a facility, which is about 35 a week, you know, you will have about 35 failed intubations or one every other week, five or six of those will be a major complication. So preparation, laceration and up in the ICU. Average cost is about 102,000. So very real problem, 20% of those will result in a patient death 86% of patients with a TEE have a post injury. So if you look at the literature, it's under reported that there is a complication with TEE's, we typically look at structural heart interventions, because we do TEE is ahead of structural heart interventions, we expect a complication with those. But it's a common procedure. And we think oh, it's it's common, there's not a there's not a complication. But there are complications that are very real. There's also nuisance complications where we can't intubate the patient, we need to you know, call in anesthesia or GI to help us intubate that patient, we have to push back other patients to to, you know, later in the day or reschedule a patient. So there is a need again, addressable market in the US growing by 14%. Annually, we look at about 850 million by 2026. As our addressable market obviously, we're using the 2x for a global market number. So the TEECAD, let's get into the good stuff here. It was designed and developed by David Marmore, cardiologist at the time out of North Shore in Chicago, it's a real time visualization. So it allows the physician to place a camera on the end of an echo probe, and see from insertion all the way down through the esophagus, where he's going, he can visualize he or she where they are in the throat in the esophagus, allowing them to avoid disease states, and see exactly where they're placing the probe easily attaches to any existing probe. So we're not looking to modify the probes. It's a traumatic soft, they avoid unreimbursed or helping to avoid unreimbursed complications, no modification again to the existing probe. And very minimal training is required to use us so we're not looking to change the current procedure. Very little, very little training first and only so no competition. Our competition right now is standard of care. Currently, what you do is you usually take the echo probe, touch the back of the throat and walk that probe back through the tissue. If you pay attention to note, no other slide during this presentation, this is a one to pay attention to. This is currently what a physician sees when he's placing an echo probe. Nothing It's done blind. So you don't see what you're doing is kind of like the difference between having a backup camera now and not having a backup camera right? We love our backup cameras on our car. We rely on that we love that technology. This is the analogy is having a backup camera. So what we provide now is what you see in that image. It's the esophagus go here, doctor, this is where you're aiming. This is where you want to go. We provide that real time visualization. A couple of examples of facilities doing sales, evaluations and purchasing customers. Again, we just launched in June of this year. So typical setup, you see an echo tower there, and that kind of blueish green screen. That's where our real time image of the insertion all the way down through the esophagus would be seen. This is just a facility in Minneapolis, it's currently using the technology, the TEECAD system, so the physician can see where he is he or she is going and have that available real time. Lots of milestones. I've been the CEO since January of this year. And these are just some accomplishments and forward looking. So we've hired a sales team moved our manufacturing back to Minneapolis. And we have the Mayo has written a paper for us as well. Looking forward 18 months in our forecast, just just looking at getting 15 hospitals initially, you know, we get to very large volumes by being I would say realistic. Our sales team never has more than 10 hospitals per sales rep. And it's a very realistic ramp up. So I've been doing this 30 years primarily in startups. And so we are not hockey sticking this because it typically is an unrealistic expectation. And so we are doing this in a very calculated realistic manner. When we look at our forecast. This is the experienced device team that I was speaking of most of these people. I've worked with at three to five companies before. So Dr. Marmore, who is also our chief medical officer is still very involved in the company even though he lives in Israel now. Myself, I have 30 years of med device experience, not my first time as a CEO either. Jody, Deb, Kim, and then Mike Clark, who just joined as our leader from the sales side. Mike has 24 years at Medtronic and also startup experience. And my board of directors led by Kathy toon, who is a former venture capitalist. This is just a quick snapshot of the paper that Mayo Clinic did Dr. Mankad just sharing his case studies. He is a champion. He's not a paid advisor. We don't have any paid users of our technology. This is something he shared at ASC and our IP for issued patents in the United States in Japan and pending patents in the EU. So we're raising currently $4 million dollars that completed a bridge round in the spring. And we did a first close on our 4 million Series B, we'll probably do our final close in three weeks. And there is a term sheet available if anybody is interested. You know, the obvious acquires we're talking about eco, so there's no great mystery as to who those acquires would be if you're going with the obvious ones, right. But there are some mid to large players. That would be maybe endoscopic companies that would, you know, potentially be interested as well. We are looking for an exit down the road. That's what our shareholders are interested in. They've been involved in the company, some of them for a number of years. So just a quote that I'll leave you with. Again, this is from Dr. Mankad, who's a champion of the technology. The TEECAD system is a long overdue solution to the problem of blind TEE intubation. It's a game changer for physicians worldwide and should reduce failed intubations and improve patient safety. And I am three seconds over. Thank you for your time