Endoluxe | Devon Bream, CEO

(Transcription)

Devon Bream  0:00  

Good afternoon. Thank you for the introduction. Sorry for the long paragraph didn't know I was gonna give you the entire presentation. So you guys heard her the whole buzz right there. I want to start with the story of how the company began because it's a really cool story. And it's part of the reason why I'm here. So our two co founders were in urology residency together. And one night, they were called in to do an emergency Cystoscopy in the middle of the night, it took their hospital over four hours, to find the typical equipment that would need to be found to do a 20 minute procedure. And so through that initial kickoff experience, they realize that what you see on this, this slide here, that traditional carts that have been around since the mid 80s, there hasn't been a lot of innovation for portability, there hasn't been a lot of innovation for miniaturization, and there hasn't been a lot of innovation for any type of intelligence has been put in. And so we're really pleased to introduce you to the end Deluxe EBS orb, and I'm going to share with you the story about where we're going. My name is Devin bream, I've been in the medical device industry for 25 years, primarily focused for the last 20 years in minimally invasive surgery. So I have a huge passion around imagery. And I have a great passion around disruptive technology. So as many of you know, for minimally invasive surgery, not much has changed since it began, surgeon started looking through scopes instead of incising. The body about the mid 80s, camera technology was added on top of the scopes, so that the whole surgical team could see what was going on. But since about the mid 80s, there hasn't been much innovation. As I said earlier, there hasn't been any shrinkage of the technology, there hasn't been any mobilization. And there sure hasn't been any intelligence added to those camera platforms. Until now. Quickly on MIS, we all know it's a growing, growing growing segment of our business. In this slide, the importance of this is every single mis procedure requires a camera. And so the whole tam for this part of the business is huge, currently sitting at about 6.8 with a very healthy carrier. And this is just the camera portion of minimally invasive surgery. So our ecosystem is really a technology journey. What our co founders first thought of was to make a state of the art wireless camera. And what they quickly realized with the new technology that's available on the market, just like in our iPhones that's collecting data all the time, these cameras can collect data that can provide valuable insights. But that data needs to go somewhere. And so we had to develop a cloud service for the data to be stored and analyzed, which takes us to the final step of our journey, which is the application of some smart technology, some AI ml insights. So quickly, this is our camera platform in entire tower. For those that have ever dealt with towers, they're usually nine feet tall and weigh almost 100 pounds. And so we shrunk it down to the same exact form factor that you're seeing here. This is an actual production model, we were proud to win the medical design award last year. And that's just the camera platform. So the camera in and of itself disruptive by definition, right better technology at a much lower cost. Typical Hospital has anywhere from 50 to 60 of those towers, those legacy towers, and so you can see the huge price implication and cost benefit to our medical device industry. The Cloud Service provides really important functionality as well. So I mentioned earlier that the data gets transmitted to the cloud to be stored, but it also allows for connectivity to the hospital EMR and patient record system. And it provides a better patient user satisfaction, where the surgeon or physician can immediately review any of the images or photos that were taken in the procedure to explain what the outcomes were. And our final step is our AI ML. And that's why we're at the conference today, we're here to raise and finish out our vision, our journey of where this kind of technology could go with the help of some additional capital. So not only do we have a smart camera, then I'm gonna tell you a little bit about the AI ml. But when they started building a new camera from the ground up, they were able to put technologies in here that no other platform has. So we have a gyroscope. And we have an accelerometer, which allows us to know where the camera is in the human anatomy. Our thought process on AI is very similar to lane assist. So similar to what Tesla does, it's not obtrusive, it's not trying to take over the car. It's simply trying to provide some additional data for the clinician while they're doing their procedure. Because right now clinicians as we know, they rely upon their training, and then their personal experience. There is no additional information when they're doing a procedure during surgery that help guide them in any way. So this is our first proof of concept that we're proud to say we've completed and that was anatomy Mi identification. And you can see we're going through a urethra here, sorry, right before lunch, but we're going through the urethra here. And our AI is correctly identifying the anatomy that it sees. The second step very similar to Tesla is identifying different structures. So just like Tesla recognizes a tree versus a dog versus a stop sign, we're able to identify different structures throughout the urethra. So whether it be the prostate, the Veeram, or the bladder, neck, all critical. But the next step is where it is really exciting. And that will be the anatomical configuration. And then finally, the identification of where to deploy therapies. Validation is exciting, because the therapy companies are interested in us. So they realize that, hey, if a camera technology can help us, the therapy company apply our therapy better, that's going to help the therapy companies with their adoption rate. So we're receiving really positive industry feedback as well. Very validating. We're hyper focused on getting a beachhead in urology right now. Because our two co founders that are here are urologist, practicing neurologist, and that's what we're focused on first. But then we're quickly going to move to gynecology, pulmonology, EMT, ortho, and then eventually to the larger cavity of general surgery, or revenue models classic, it's great, we've got a capital device, but then we also have a SAS. So we have a SAS for the AI for the cloud storage and for our service and warranty. Intellectual property, we have two patents that are already filed, which is really exciting. And more excitingly, we filed our third patent with which has a lot of application for our AI ML application for the therapy companies. Regulatory status. We're currently class one exempt, but we know once we apply and add the AI, we're gonna need to go up to class two, so we're gonna need some funding to finish that out. We're looking through the breakthrough device designation, and then also to get our TPT code out on. So key takeaways to huge market ready and primed to be disrupted hasn't been disrupted since 1985. We have great value in the camera in and of itself. We have an AI ml component that will add intelligence onto that. We have great IP and let me introduce you to the team real quick. So Dr. Patel and Dr. Zhao that are here are practicing urologists. They are the ones that founded the company. Originally, they brought me in with my 25 years of medical device experience to help broaden the success. And our CFO and CEO have also been in the medical industry for over 20 years. We have a wonderful clinical advisory board. Both Dr. Desai and Dr. Patel are just right up the street at Keck. So they've been providing wonderful insight and our experts and Dr. Seagal up in Toronto has fantastic stretch all the way down through Africa. So we actually took this down to Africa and prove that in Africa, you could do an entire surgery without all the modern fixings of a regular operating room. In our business advisory board, many of you might know Phil, Phil got his first hold on one yesterday. So if you see him walking around, make sure to give him a high five. But he's been fantastic. And I want to thank him. And Kip Patel, who's an AI engineer from Rice University's guiding our AI initiative, and Vikram who owns a global manufacturing is helping us manufacture these here in the USA. So I'd like to thank everybody, I hope you have a chance to come to our breakout and learn a little bit more about where we are on our journey. Thank you