John Chi Presents Synova Life Sciences at LSI USA '23

Transcription

Hello, I'm John Chi. I'm the CEO of Synova Life Sciences. So at Synova, we help people live longer and healthier lives. By removing the bottlenecks for people to get their own stem cells, we make a device that gets stem cells out of fat, and now with some optimizations 50 times faster than the current gold standard, reducing extraction time from hours to just minutes, and we get twice as many cells. Fat is an ideal source of stem cells, you have 500 to 2500 times more stem cells in your fat than anywhere else in your body. But the cells are trapped in the fat and getting them out has been a huge bottleneck. The current gold standard, which is using enzymes to dissolve the fat tissue, it can take three hours or longer in the clinic. And it's complex, it risks contamination and can damage the cells. At Synova, we make an automated device that's 50 times faster than that current gold standard. Processing takes just three minutes and gets twice as many cells. It uses a sterile disposable cartridge that can process approximately 200 ml of fat. It doesn't use any chemicals, it needs no pre processing, it's really one and done. We have a $10 billion dollar market in cosmetics, and that includes fat grafting, dermal fillers, Hair Regeneration, and wound healing, and also $50 billion in point of care orthopedics, which includes tendon and ligament injuries, osteoarthritis, and degenerative disc disease. And point of care is when a patient walks into a doctor's office or clinic and then gets treated and walks out the same day. We're launching in q1 of 2024. And we already have significant traction traction even before launching. We've run 60 pilots, which have resulted in over 12 million in ello eyes, representing now 130 clinics. Our first production runs of 50 and 100 devices are already spoken for. It gets us to 600k MRR in 2024. And we have written LOI targets of 50 million in 2025. On this revenue, our gross margins are just over 90%. And we're currently in negotiations with one of the largest medical device manufacturers and distributors in cosmetics in the world for distribution. Our system addresses many verticals, in point of care, cosmetics and orthopedics. We're locked in with some of the top KOLs key opinion leaders in cosmetics and also orthopedics and with institutions like Northwell Health, McMaster University, Scripps and Stanford, in tissue engineering cells from our device have been used in differentiating into various organs and tissue types. And here, you really have to have your own stem cells, because that avoids the risk of rejection. In stem cell banking, fast, high throughput, high volume processing is a necessity. And we've also received a lot of inbound from some of the largest veterinary companies in regenerative medicine, and also in lab grown meats. We've raised 3.3 million to date. And we'll be kicking off a series A in the coming weeks to scale massively, which includes executing on all our allies, and fulfilling those deployments. We're hiring to fill some key positions for our growth. And finally, we're using this money to dominate our existing verticals and expand into new ones. We have patents in over 20 countries issued and have more pending. The patented technology in our device creates a modified shockwave that gently breaks up the fat and releases the stem cells. All of the tissue is recoverable. The stem cells, other regenerative cells, and also the fat itself, and it's been optimized to a simple three minute process. How it works in practice, the clinician harvests a small amount of fat from a patient usually about one and a half ounces, and then loads that into our disposable cartridge with some saline. Then they put that into our device and just press a single button. In three minutes later, the cells are ready to be used no chemicals, no pre processing. Here You're on the let me see. Right. So our cells are healthier, rounder, they're more uniform in size and with the membranes undamaged. Whereas on the left, the processing was done with enzymes, the cells are less round and less uniform in size, they're misshapen. And you can see some with compromised cell membranes. Also, far greater in number, as seen here with the cell samples from the same tissue, and different processes that are cultured side by side Synovus on the right, and the enzymes are on the left, and Sonova has 110 million cells with the enzyme process with only 45 million cells. None of our competitors even come close to us in terms of speed and stem cell yield. The three in the middle are all enzymatic devices, they're much slower and have a much lower cell yield. Over on the right are non enzymatic devices with very, very low cell yields compared to what we can get. I'm a Stanford electrical engineer with a master's in biotechnology, inventor of the technology. Michelle, her dad is our Chief Commercial Officer with 10 years experience in hardware. And he's really built the channels that make it possible for us to scale immediately and quickly. Rob Kent is our Commercial Officer. And he's brought 10 class to medical devices to market. And as CEO of his last company, he took that company from 3 million to 20 million in a matter of three years. And our regulatory specialist is Connie Hoyt. She was the former senior VP of global regulatory and quality at a major cosmetics firm company. And in the last 24 months, she's submitted 25, FDA 510 K applications, and all of them have cleared. So to sum it up, we have the best in class speed and yield with three minute processing and double the yield of the gold standard. We use no chemicals, no pre processing, it's one and done. We have strong institutional collaborations, and strong traction in the form of 12 million and loi is for us to fulfill right out the gate. And we have even more coming. We're building a healthier tomorrow, where people will be able to be restored from injuries and degeneration. We're kicking off a series a fundraiser in the upcoming weeks, and I look forward to connecting with you. And I also just realized walking around this conference, if you want to find me, I'm going to be the only person wearing a mask. So finally, I feel it's important to leave you with one of my favorite quotes. It's often incorrectly attributed to Mark Twain and I've attributed it to Mark Twain so want to make the correction. It's actually from someone named Sarah Francis Brown. In 20 years, you will be more disappointed by the things you didn't do than by the things you did do. And so I say to you, in our vision 20 years from now, you will still have the time and the health to do the things you didn't do. Thank you.