Jorge Presa, Cyber Surgery - Surgical Robot for Spinal Surgery | LSI Europe '22

Transcription

Jorge Presa  0:08  

Hello, good afternoon. I am Jorge Presa, CEOs, Cyber Surgery or robotic system for a spine. There are multiple spine diseases in these thirds of the population, we will have low back pain in our life. The oldest standard for these diseases is vertebral Fushun it consists of inserting pedicle screws and connecting them with Ross. Is a very complex procedure. And in some cases a new surgery is required only 1% is done by a robot as you know, is by market is growing and growing more surgeries per year, 20,000 hospitals in the world that perform these kinds of surgery and there are some some of the companies that already are just in a row not all of them. But in relation with robotic surgery, the market is growing even faster and specialize in orthopedics in a spine accuracy is mandatory is a niche market where accuracy is very, very important. Three years ago, we could talk about only three competitors. Now, there are five and other ones, we begin to raise our debt. So we could say come on is a crowded moment is not your moment. We are not totally sure because all of them use optical tracking what optical tracking some cameras in the operating room and references on the road and on the patient. We have a different approach instead of this optical tracking. Why don't we use like a haptic tracking? we touch the patient we know in real time and in a very accurate way. where is the patient? So, we did that and we have seen that is much more accurate. The great advantage is that we have not affected by occlusions there is no cameras in the operating room and the control frequency is much higher. So, we created our robot and also patented the most important areas mostly related with the tracking, we have test the system in Fontan and in Calabria as well, this is the tracking system and this is the element that guides the soldier. So, in this case, the surgeon moves the patient. And as you can see, you can realize the follow always the rows sorry, follows the patient. So, you always have the three story that you have planned before these three main competitors, there our advantages are accuracy, there is only one device, not three devices in the operating room, and the setup time optical system, all of them takes more than 50 minutes in our case is less than 10 minutes. So coming back what I mentioned before, yeah, they all use article tracking. And there are already 500 robots in the world. But they are creating tendency, so is the right moment for meaning the market with a different technology. If you perform the surgery with a robot or in a minimally invasive way, there are some advantages related with the recovery time in the hospital, less X ray exposure. With our road there are some advantages. First of all, it's safer, because it's accurate. There is redundancy in the measurements and we could use artificial intelligence in order to support the surgery. The surgeon during the surgery in the in the decision and at the same time during the surgery is reliable. When people see that the tracking is right here. And when you move the patient is following is very reliable. And what they like more is that they are not affected by occlusion. In MD Anderson in Houston for example they have one person in the operating room. Yes for controlling the cameras during whole surgery. It's user oriented, less footprint without the cameras, quip, a startup? Quick Start sorry, seamless surgery. And we are agnostic about the manufacturer, we can use the robot for any of them, no, like other companies. Is cost effective, why less time implies lesser recourse, I will talk about our business model. And these days we have been talking about royalties in in this event in LSI. The most important thing as this robot is that this technology allow us to create a modular robot, we can have a robot for every procedure. So, with this model modularity, we can change the tool for other spine procedures and in the future for neurosurgery. Right now, for example, we have a prototype for cutting the bone for steel dummies. And there are other technologies that we are testing right now. We are 26 people, we are based in Spain, and we have experience in the health sector. And from the technical problem point of view. Our Advisory Board are mainly neurosurgeons, the former president of the European Association. And we have references many references in Europe, and also in US. Indeed, we are beginning a collaboration with Brigham Hospital in Boston, halfway MD Anderson, in Houston. So there are some testimonials, and all of them are related with accuracy, no cameras, and the resolution of the time and cost. Regarding the business model, was the problem of the surgery. Robotic surgery is because the the cost of one of our any of our competitors is 1 million. So maintenance 50k, 1k per surgery, and this is the cost the mean is around 40,000 and the costs of one screw 500 euros. Okay. Why don't we move from capex to front capex to OpEx? First of all, we are going to reduce the time of the surgery. So we reduce the costs. But when we explain to the hospitals, why don't you pay 150,000 per year during five years, and they tell us Oh yeah, in that case with this business model, they already want the robot. All of our references has told us that with this business model that is renting no pay per use, they could like the road. There is an example with just 200 surgeries per year that you can see that is totally affordable for them. And due to our costs, and is also a business for us. Our current investor, our local investors, industrial sector health insurance and small venture capital, we raised seven millions between between private equity, public loans and grants. And right now we are looking for more money, clinical trials we can do with our own funds. We are going to begin cross fingers in October in four weeks. So we are very excited. It's active. Why do we need the money? First of all, if we begin here, the clinical trials, we are going to get the CE mark. Hopefully at the end of 2023. We have been talking with FDA, they have confirmed us 510 K altough we have to explain more about this our technology because it's a different tracking system. And we'll be ready for FDA in this moment. So we need the money at mid 2023 For distribution network in order to install 25 hospitals globally. The most important thing is not the current solution. The most important thing is next generation functionalities. Right now we are going to be in the market with a robot for guiding pedicle screws but with our modularity, our robot will allow us, as I mentioned, to perform osteotomies, tumor ablation and other spine procedures. So, thank you very much for your attention. And if you have any question, please let me know