Jeff Amacker Presents TibaRay at LSI USA '23

Transcription

Good morning, everyone, we have a breakthrough in technology that is going to make a dramatic difference in cancer care. And I'm happy to have a few minutes of your attention to let me tell you about it. So let's start with some numbers one out of two, and one out of three, what are the significance of these numbers? One out of two men and one out of three women will get cancer in their lifetimes. I mean, we all are in the field and still stunning when you hear the numbers and look at them that way. 60% of these patients in the developed world will get radiation therapy as part of their treatment. Radiation therapy is useful in many different types of cancer treatments. And so it's used on large numbers of patients. It's a huge market, the equipment is a $7 billion year market growing at 6% per year, we're disruptive enough. And as you hear the talk, we most likely will end with an acquisition, we're prepared to go the distance if we need to go the distance, but most likely, it's an acquisition. So here's the problem. Radiotherapy is too slow. When you're being treated, it takes few minutes to do your treatment. And while that's you're being treated, your tumor moves around. So we trade large volumes of healthy tissue in order to try to make sure that we hit the tumor. And the radiation causes collateral damage. It's a natural part of radiation when it with all the things that it does. And it's not very efficient, the average treatment machine in the US treats 350 patients a year. So it's, there's a real opportunity here because it's so slow. So what are we going to do about it, we're going to cure cancer in a flash. So we're going to treat 400 times faster than today, for any indication that's suitable for radiation therapy. And when you do that, you image treat, you're done. There isn't time for the tumor to move around. You shrink the volume, and you treat the tumor instead of treating a large part of normal tip normal healthy tissue. And it turns out that there's a radio biological advantage. This has been discovered recently, where if you treat very quickly, same dose, same tumor, you can same killing effect. But if you do it very quickly, the normal tissue responds much better. Take does much less damage to it. And it's more efficient. So the machine we're coming out with will treat twice as many cat cancer patients as the current machines at least twice as many. So how do you do that? Why didn't somebody do this before? Well, it's hard. It actually required a breakthrough in accelerator technology out of the SLAC National Accelerator lab to make this possible. And with that breakthrough in technology, we can get 30 times more being current out of a linear accelerator than any of the current treatment machines. And we're putting them in a ring 16 accelerators in a ring focusing all that energy on the tumor all at once, and boom in the street, you're done. So here's an example. What you see is a very intriguing machine doing gated rapid arc for a 25 grade lung cancer treatment. This is state of the art radiotherapy today on top of the line machine, the accelerator is in the bottom of the below the patient right now, the radiation is coming up through the patient's back, this big gantry will rotate around the patient to bring the radiation in from all the way around the patient just spread the radiation dose out in normal tissue and concentrated on the tumor. That's part of how we get the differentiation that we're looking for. This treatment is going to go on for another three minutes. In contrast, there's our treatment. It's done, demonstrate done no time for the tumor to move around, get to take advantage of the radiobiology some more efficient treatment. And this is exciting. We're gonna make a big difference by doing this. We have a great team. Across the middle here are the five founders, three of them came out of Stanford health care. Two of them came out of the SLAC National Accelerator lab. So not only do we have the technology, but we have the people who invented the technology as part of the team. I they brought me in two years ago because I spent 28 years at Varian medical systems the market leader in radiotherapy ran their engineering in the late 90s and ran in one of their business units. For the rest of my time. Arun is the engineering team all reports to Arun she's got a really strong technical and commercial background. We have a part time CFO at this point and a great set of advisors. From an IP point of view, we have an exclusive license for 15 issued patents from Stanford healthcare. They go from very broad patents to some more specific ones. For example, using more than one linear accelerator to treat a cancer patient is patented and we have the exclusive rights to that patent. We also have a bunch of other patents in various stages of for IP that we continue to develop ourselves. competitively. Here's a two by two across the bottom is on the left hand side and slow today's treatments funny I call them slow today, but slow treatments, and on the right hand side are very, very fast treatments and then cost effectiveness of the vertical axis. On the bottom we'll start there are is proton therapy, proton therapy vendors are all working on trying to do very fast radiotherapy. The problem is proton systems are just super expensive. And there are a lot of attempts to try to get those costs down. But they just they're still super expensive. There's big complex machines, it's not even part of what we're considering. Mainstream radiotherapy, vendors don't have an approach that gets them there. There are a couple startups that are trying some things that are going to be substandard. We're the only ones who are going to come in here with the ability to do a sub second flash treatment with exquisite dose distributions, we're not going to sacrifice the quality of dose distributions in order to do this anywhere in the body. It's easy to adopt because it will fit into an existing radiotherapy vault, and fits with the existing clinical workflows. It's not like come in and completely disrupt radiotherapy workflow, we don't need to do that. We just do the treatment very, very quickly. With existing reimbursement codes, it is a very attractive machine for institutions to buy, we will of course, try to get additional reimbursement codes when the time is right. But we can go to market with existing reimbursement codes, and it's very attractive. We have a four year development ahead of us, we're going to be able to take a 510 K path through the regulatory through the FDA. So that's a straightforward path. And we know how we'll be able to get that done. At this point, when I came here last year, I came here we were still derisking. The core technology we now have built and demonstrated that we can make those linear accelerators is not just a concept, we can actually do that and make those things. And we've also done some other technical derisking. So we're at a point where we're ready to take the next step. So from a funding point of view, we have had we started with a seed round two years ago, we did a convertible note last year that it kicked off here at LSI. Back again to kick off a series a here at LSI. Because we've hit that point, the series A we will use to build a full prototype with 16 beams focused on the tumor and move forward from there. The other thing is we have had $10 million of SBIR funding, and SBIR funding that both validates what we're doing as well as its great non dilutive funding. We love it. So, in summary, why TibaRay so for me personally, when this opportunity came up, drop everything go do it, we're how often do you have in your career, the opportunity to make this much difference in the world. It's tremendous opportunity, we are going to treat patients in a fraction of a second 400 times faster than that today. And when we do that we freeze the motion, we get the better radiobiology it's a more efficient treatment. So it's cost effective. We have the right team to go get it done. I'm actually humbled to be part of that team. And we're gonna save millions of cancer patients lives. So I it's very profitable market. We will make money along the way and I hope that you'll come and join us on our Series A funding. Thank you.