Leah Brownlee Presents Lazurite at LSI USA '23

Transcription

Leah Brownlee  0:05  

Good morning everybody. My name is Leah Brownlee president of Lazurite and I'm here today to talk about minimally invasive surgery. So how many of you know somebody or have had minimally invasive surgery or endoscopic surgery yourself? And all of those surgeries, the surgeon use a surgical camera much like the one shown in the answer and the surgery room looked much like the one on the screen, and the surgeon was hindered by the wires that were attached with a surgical camera. And the patient had an increased risk, and so did the staff. And minimally invasive surgery took me wrong is fantastic. It has changed the world from the maximally invasive and maximally dangerous surgery to a world of minimally invasive and safe surgery, but there is room for an improvement. And in the decades since its introduction, the camera has not changed. And it introduces problems hinders the surgeon in his movement in the operating room, it entails longer setup time, it requires more tower components. It leads to risk of infection, lead, fire, trip and fall and delays in the surgery. And it is a huge market, and it is revolutionising surgery. And that market has a huge market for its tools. And we've seen a number of them up here, just the visualization systems are an $8 billion worldwide market. And that market is poised for transformation. So this is ArthroFree. It is the first FDA cleared, wireless surgical camera system. And wireless seems obvious, we weren't the first to think about it. But we were is the first to do it. And how and how did we do that? A few critical items as we look at this camera, that silver bullet looking thing on the top. That is our meridiem light engine. It's a laser based laser technology that is cool to touch in low energy, we put five watts of power in it as compared to the 300 Watt box sitting on the surgical power. Next is image transfer, we need to get that image to the screen without latency so that the surgeon can do his job. We have an ultra wideband point to point 128 That encrypted transfer of our image within perceptible latency, we do not rely on a customer's IT system. If their Wi Fi goes down, our camera stays up and long battery life. Each battery for our camera will last at least 60 minutes that covers most of the time of arthroscopic surgeries. And if that's not enough, that's fine, a 22nd transition to a new battery and there are three in this in the sterilization tray. So we've innovated and created this camera and we protect protected our innovations on two separate platforms of IP, our light source platform and our wireless camera platform. We have 36 issued and pending patents around the globe. And we're de risked. We've received our 510 K clearance and 2022 after this 90 days for an indication of use that covers all minimally invasive surgery. So since we started we've done about 100 surgeries. And I like to let the surgeon at University Hospital tell you about it during his first case, and what his experience was

Video Playing  4:10  

70 degree scope of change and it's nice to maneuver from space to space without having to have any game it's one less thing in your way when you're trying to swing your hands around. Moving into different you should have more time about your right hand or your camera hand while you were working. I think Dr. Kelsey and I both felt that when you change direction that you don't have that drag with you where the court is following is falling with you so it actually makes for a more freedom more ease of movement or freedom of movement can come on around Yeah, flex the epi together 76. This was to the 70 degree Scope. Popped out here. Okay, go ahead, drop a sign in there. That's been pretty easy to change. Nice little flip around here we go. Nice that we get the nice view at the 70 degree scope all the way into the notch here. Good. We'll take our shaver excellent, good it was nice to do a patellar tendon ACL graft and a partial lateral mastectomy in 45 minutes. And we were able to do all the transitions of 30 degree and 70 degree scope and change from using the shaver and having bleeding and putting the hardware in and then the camera kept up with all of those transitions. It was nice and light where you didn't even have to think about your right hand or your camera hand while you were working. I think Dr. Kelsey and I both felt that when you change direction that you don't have that drag with you where the court is following as following with you. So it actually makes for a more free more ease of movement or freedom of movement. That one battery.

Leah Brownlee  6:32  

So the surgeons there, Dr. James Foose and Dr. Jacob Halsey that serves orthopedic surgical team for the Cleveland Browns, during their first case you using the camera. Now, our therapy is distinct from the competition, or the incumbents, we're the only camera that has a wireless video transmission and integrated light source and an integrated power source. And we are going to provide every customer value coming in as a capital purchase in the same range of cost as everything else. We cost less to own overall. And we're targeting ASCs primarily. And so when we look at that 30 cases per week at a busy ASC, that blue bar, that's our tear free next to the gray bar for 20%. Less on a cost per case basis than the regular and the black bar. That's your disposable camera and how much it costs. And the reason why we're less expensive, is because wires cost money. And we cost half as much to clean a camera after every case. But we're gaining momentum and you saw the surgery video. And that was with university hospitals. We partnered with them two years ago and not only were they the first in Ohio to do a case, we published two value value added studies with them in the last year. We did our very first surgery at NYU Langone with Dr. Leif jesperi Last September, and in November, we announced a collaboration with Hospital for Special Surgery, the number one Orthopedic Hospital in the US. So we're poised for market penetration and we're building our sales funnel. We have 70 investor physicians today. They are the base of our sales funnel. But we have 1000 sales leads. That's 10s of millions of dollars of potential revenue that we are working through. And we are moving through the sales funnel actively doing clinical evaluations and we've already received our first purchase order. So you know who is the team that's leading this so we have decades of experience in the medical industry. I'm a lawyer, chemical engineer to start with and I joined the company a couple years ago as the president. I'm Eugene the CEO is the inventor of the technology. He's the one that saw someone trip and fall over a wire get badly injured, and it was because of a wire camera in an operating room. And we benefit from an industry leading board including the former CEO of Orthofix that just created the orthofix C spine merger. Gary Cohn, who is currently the vice chair of IBM, former hospital administrator and orthopedic surgeon Mark Fortson. In our sales team, they're busy, very busy. A capital purchase requires going through a VAT committee that requires clinical evaluation. And we're doing it at select sites across the US and ensuring customer satisfaction and building a process where our customers can be satisfied and we can do a land and expand sales strategy. So I'm here today we're raising money to pay for that strategy and pay for the product to deliver to those customers to ensure that we have industry traction. We're raising $15 million today. So join us in the future of minimally invasive surgery