Fergal Ward Presents Capri Medical at LSI Europe '23

Capri Medical seeks to change the way neuromodulation therapies are delivered.
Fergal Ward
Fergal Ward
CEO, Capri Medical



Fergal Ward  0:04  
So, good afternoon. We are Capri Medical. It's our mission to unlock the access potential of neuro stem neuro stem has been around a long time, but it's still yes to migrate from the operating room into the office. And that's really our mission in Capri Medical. So we're focusing on obstructive sleep apnea. So obstructive sleep apnea is when the tongue during sleep rolls back and obstructs the airways. It's a big problem. So there's almost a billion people globally suffering from obstructive sleep apnea. Almost half of those are 425 million of those are considered moderate to severe. 20% of patients are diagnosed for sleep apnea. So generally speaking, Sleep Apnea results in 30 to 38,000 deaths in the US cardiovascular related deaths in the US every year. And there's just significant high risk issues with OSA, our obstructive sleep apnea. So it increases the risk of heart failure by 140%. And stroke by 60%. So this is the primary care treatment today, I'm sure everybody knows that. It's called CPAP. It's first character treatment, it's very bulky. So if you want to travel, you need an extra suitcase. But from a practical perspective, it's loud. It's leaky. But from a from a real, I guess, social perspective. It's isolating for the patient and for their spouse and a couple in general. Patients call it Darth Vader device, right? Because it sounds like Darth Vader. But some of the patients that did I talk to say it's a cuddle killer, right? They patients often have to sleep in separate rooms, and it's just not comfortable in bed when you when you want to cuddle in the middle of night. Anyway, so the CPAP device market. So, CPAPs in general, reduce the apnea events by 50%, or reduction in the HID index associated with sleep apnea. Next treatment option is neurostim. So with neurostim, you're looking at 79% reduction in apnea events, so a significant improvement, and 50% non compliance and CPAP and 91% satisfaction in neurostim at 30 million devices sold and CPAP. estimated 1 million device annually in neurostimulation. But today's 24,000 procedures annually in neurostimulation. So Inspire is the market leader for neurostimulation 600 million in revenue and 6.4 billion market cap. That's 24,000 procedures annually versus 1 million required for neurostimulation. Looking at the CPAP market, that's a $6 billion market today. So it's a it's a very big market. Now, the sleep physician prescribes the CPAP device 50% non compliance, then then referred to an EMT surgeon. Okay, so this is just the the Inspire device here involves two separate procedures, each of those procedures at least two hours each, right, so there's a procedure in the chest, and another procedure in the neck. Again, our mission is to move this out of the operating room and into the office. It's a 20 minute injection procedure in the office. And this is our platform. Again, the the operating room just two devices, the Inspire device and it's not an XOR device, both of them significant surgical procedures and where an injection procedure in the outpatient office. So when you look at the Venn diagram between CPAP and inspire CPAP has, you know, it's it's accessible. neurostimulation has better efficacy. So we're right there in the middle of the Venn diagram between access and efficacy. We have granted IP or core IP is granted and be nationalized all around the world. We're almost 40% True product development. Okay, so Series A product development where we're fundraising today for a top into series A to give us more flexibility and time and scale. But this is our solution here, there's four parts to the solution plus the implant device. It, it receives wireless power from a wearable device a small, wearable device on the neck. The injection procedure is done with our injection device. So it comes pre loaded with the implant inside the injection device. It's really only a 20 minute procedure. And it's all controlled from the app. This is a platform device. We're also working on migraine, we've got a European project, funding three hospitals across Europe, and the European Society for pain as well in a 50 plus patients story. So we're we're working on sleep apnea, we're working on migraine, but the platform is extendable, to other indications. Our team, so myself, the founder. The idea originally came out of BioInnovate, which is an incubator out of Galway in Ireland. And I'm joined with Ricardo viejo and David sureno. So Ricardo and David have been working together for almost 15 years. They've completed four pivotal clinical studies from Medtronic, and together exited two different companies to Medtronic as well. So they're really themselves, you know, the leading if you like KOLs within the Medtronic team, and leaders in the neurostimulation field in general. So far, we've been very successful in grants, we've raised equity as well. But we've raised 16 point 2 million in grants, and that's a combination of 9.3 million direct and to Capri Medical, and 6.9 into our supply chain and our partners. We are second overall in the very first EIC program as well. Okay, so this is really it for Capri medical, a short presentation, where fundraising really to close series A but also to open up Series B clinical. And so Series B will be a 25 million raise in a year to 18 months from now. But generally speaking, I didn't go into detail of the product, it's injectable, it's safe, it's hermetically sealed. We've got some amazing electronics inside the device that solves a lot of technical problems. So it will go into on its platform product. But generally speaking, it allows 10x of scale, if you like it's 20 minutes versus four hours of procedure time with Inspire so, you know, the physician can really scale up the number of procedures in the outpatient clinic, but also because it's in the outpatient clinic. You know, the procedure costs for the Inspire device is 30,000. And we don't have that it's in the outpatient clinic. So we're estimating a 40% 45% reduction in pair cost as well. So that's it from Capri medical. Thank you for your time, and I look forward to seeing you later.

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