Levita Magnetics | Alberto Rodriguez-Navarro, CEO

Alberto Rodriguez-Navarro  0:00  
Good morning. Very happy to be here. And tell all of you what we are doing at Levita. Well, we are adressing a big problem, more than 5 billion people don't have the adequate access to surgical care. Even 50 million surgeries are performed per year, our more than 150 million are needed. This means for the patients waiting for the procedures suffering the time having complication for for the for for the inner disease. And this also brings 20 Millions of annual deaths that will be preventable if we're able to provide access to the surgery. There are multiple bottlenecks that caused this problem is a very complex process. And we have a very innovative and disruptive approach to address this issue. I calculate this problem in firsthand, I am a surgeon, I practice more than 10 years, I have done more than 3000 surgeries by myself. And I believe I have to tell patients that they have to wait that we don't have capability of doing their surgeries. And we were always doing a surgeries when they are complicated. It was in the academia before I have more than 30 publications, I tried to address the things in my hospital. But at the end, I realized that it was a technological problem, there was no tools that enabled us to do to do more. So that I decided to stop my clinical practice, moved to Silicon Valley, and start the company. And right now, we are backed up by the most renowned surgeons in the world that really see the same problem that we are addressing and also endorse our solution. Our mission of the company is very, is very big, because it's a big mission, we want to provide access to more patients, but also not not just the access to a more to a surgery is also to a better surgery, how we can do it even even better. So that's our solution is is very unique. From one side, we empower surgeon. The idea is that they increase the number of cases that they can perform per day while we do that faster procedure, giving perfect assistant in order to do the surgery, and also reduce the need of the personnel involved in that way you can standardize the process in a better way. And the other big part is that we provide a less invasive procedure. Why is this important? Because patients spending less time in the hospital we can have like a faster turnaround of patients. And also, if you have less invasive procedures where patient has less pain, they need less care, they need less resource in order to move forward in their in their surgery. So this is our you know the approach is a new way of approaching robotics. We leverage our magnetic technology that actually is what enables the reduction of incisions that brings the clinical benefit. And also it gives control to the visualization of the surgeon we leverage the cameras that they already have and give control to the surgeon. So this is a new approach to robotics is two arm robotic platform is at two extra hands for the surgeon. As I mentioned one of the arms a leverage our magnetic technology that brings the reduction of incisions that is the clinical benefit for the patient and the other arm, we provide a robotic control of the scopes that they have in the hospital given a stability and control to surge. Also, we do this with a very unique foot controller we don't need big consoles for for managing the robot. So this also keep the surgeon next to the patient still feel that it's also safer, and the robot are small, are compact, you can move it individually you can move from one OR to the other, we want want to make something very functional and useful. About the magnetic technology that is our our secret sauce in this we own this space, we have more than 60 patents we have even the trademark magnetic surgery in the US. And the concept is that you go inside of the cavity, you release the inner inner piece and you connect an external magnet through the organ that you want to mobilize. In that way you reduce the number of incisions, you avoid the incisions that produce more pain, more complications, and you can complete the procedure in a less invasive way. So this is our robotic platform. As I mentioned, it's a two arm a robot, one of the arm controls the magnet that you can see on the on the head of the of the plastic a model that is controlling the interface that is without incision and the other arm controls the camera that enables the surgeon to have two extra hands and perform the the procedure.

The beauty about of approach is that we have what we call the triple impact because first it has a clinical benefit. And also this is a big differentiation with any other of the robotic platforms because we have a clinical clinical value that is very easy to to to see, we reduce the number of incisions, that means less pain and faster recovery with less time of the of the hospital. For the surgeon, we increase on your control, we give visualization. And also you're not dependent on the system. So it's a, it's a way of standardizing the process and doing it better. For the providers. We reduce labor, we're very focused in ambulatory or outpatient procedures, that is the future of the majority of the of the abdominal procedures, we improve efficiency, and we increase patient volume. We already have clinical experience with our robot, we're very ahead in the development, we have done 30, digestive surgeries, all of the cases with less incisions, we're focusing Bariatrics, because that's our beachhead of the market. We already have preliminary data that showing that we reduce pain, and also that we use less opioids in the post predatory period, we also have done same day discharge gallbladders. And even we have done acute gallbladders in our more complex cases, and the robots is working very nicely. Very high level plan, I'm surgeon I'm very simple, very straightforward to things, we are planning to have FDA clearance at the end of this year, early 2023. Our robot is very is very simple in terms of, of FDA process, we are positioning our robot as an accessory to our current system. So it's a very straightforward 510 K process, we will have an initial entry to the US market next year, we already have letters of intents of very well known places here in the US. So we want to roll out to those centers first. And then it's a commercial expansion. Next next year, we like to walk before we run the market, everybody knows is huge. We're starting on bariatrics gallbladder very frequent procedures, that was entry point to the market. And then we're gonna go to other other indications. The opportunity is huge, is based on selling disposables, we already have the disposable component of our system, we have already 70% margin. So from there, with volume, we will have even more in margins, we will charge for the robot, we will explore also models of charging per procedure that is actually where the the market is moving on. And we see this as a global solution for for surgery. And just to finalize, also, we're going strong on artificial intelligence, it will be the way of improving our robotic platform. That's the beauty. Also, while we're doing that, we want to have a very integrated solution. We already have algorithm that we recognize our inner component we recognize other instruments. So we have a lot of ways to keep improving the solution that we want to provide to the surgeons. So summary is clinically proven. We own it and we're very close to FDA clearance and when I get this year, huge market opportunity that we will be the first ones in really entering this space with a solution that makes sense and has been loved by top surgeons and globally recognized leaders in the world. Thank you very much and I'm happy to talk with anybody who can who want to join our our journey. Thank you