Liz McGloughlin Presents Tympany Medical at LSI Europe '23

The company is developing a next-gen endoscope for sinus surgery - Solascope.
Liz McGloughlin
Liz McGloughlin
CEO, Tympany Medical



Liz McGloughlin  0:05  
Good afternoon everybody. My name is Dr. Liz McGloughlin, co founder and CEO of Tympany Medical. And I'm delighted to be here in beautiful Barcelona to introduce you to oscilloscope. So, solace means lice are squeal deaf. Now many of you may not know but Irish people are obsessed with light. We talk about this on a daily basis about the grand stretch in the evening and how the change in the clocks are going to affect our day. And many of our ancestors were also obsessed with life building Neolithic tombs in honor of light itself. So we continue that obsession and passion for life as we develop solid scope, the first panoramic single use sustainable, sustainable endoscope platform for end surgery and beyond. Visualization and surgery is changing and we will be at the heart of that. We're developing grand groundbreaking solutions for the 2.5 billion rigid surgical endoscope market, which is actively being disruptive with significant ongoing investment and technology advances. Our first endoscope will be certified with the FDA at the end of this year. And we've been supported to date by leading investments, clinical and academic partners across the world. We are BioInnovate Ireland spin out company led by myself and royal Callen. I'm a medical doctor with a passion for needs lead innovation, and Rory is an experienced engineer with deep expertise in design. We have a team of 14 and Galway with a mixture of engineering, photonics, electronics and support stuff. And in 2023, we brought Michael Gilmore to the senior team who's got a background of over 25 years experience in medical device manufacturing, both at startup and multinational level. We have also since our seed investments in 2021 develops a world class boards, including Barry Russell as chair Helen Ryan, poor Curtis and most recently Charlie Wilhelm, former CEO and director of Carl Stuart's USA visualisation in surgical setting is still really, really tricky. So with the current state of the art surgeons undertaking functional endoscopic sinus surgery have to prepare for endoscopes to live complete visualization of the fields, zero degree, 30 degree 40 degree and 70 degrees. Additionally, there are multiple cleaning steps required to clean the endoscope as the surgeon goes through the surgical procedure. Many of you will have played sports and have been told don't take your eye off the ball. Surgeons currently consistently take their eye off the surgical site, reducing the accuracy and safety of the surgical procedure. This leads to up to 30% reintervention rates in functional endoscopic sinus surgery due to reduced visualization. The endoscopy market is a hot topic at the moment. Many companies are emerging in single use flexible space being led by companies such as Ambu. We are targeting the rigid surgical market, an estimated $2.5 billion opportunity in the US alone. Single Use endoscopy is still growing at a compound annual growth rate of 17%. And en t is projected to have the fastest growth rate in the use of disposable endoscopes. This is why we are targeted in e and t as a first market however, our platform can be scalable across other market indications. Solar scope is the world's first single use panoramic self cleaning endoscope. The two key differentiating features of our endoscope is that we deliver panoramic visualization. Dropping from four scopes to just one scope and have a self cleaning lens system allows reducing the amount of times the surgeon have to take the scope out of the surgical slice. Additionally, it is a single use sterile endoscope, ensuring that there is no cross contamination or infection risk with it with in between cases. This has been validated with many surgeons across multiple specialties, and they are describing it as a game changing technology and many of them are excited to integrate it into their practice. In order to own the surgical customer tymphany will deliver the solar scope system. This system will not only be driven by our rotating head and panoramic visualization and scope, but will also have an option of zero degree endoscope. This allows us to have flexibility both from a clinical and cost perspective for the surgeon and reduces operative challenges of changing technologies to write the the operating lists during the day why now Many people have tried and fails to address this panoramic visualization problem. However, we are leveraging advances in CMOS technology, delivering improved image quality, miniaturized electronics allowing for four millimeter endoscope design, advanced electronic packaging, which allows us to have a scalable manufacturing process, and most significantly our opto electronic integration which allows the optical transfer of power and data through our endoscope for 360 degree rotation, allowing panoramic field visualization and our wiper cleaning mechanism. Single Use endoscopy is growing and we know it's here to stay. However, there is an obvious issue with waste. We are working with partners to undertake lifecycle analysis to ensure that RT endoscopes are at the lowest level of impact as possible. And this is something that we're very passionate about and be working towards reducing the amount of waste by having a reusable handle and reusable camera control unit to deliver to the market. We have a very clear regulatory and reimbursement landscape with a 510 K pathway for our technologies. Our first zero degree endoscope will be certified early next year on our follow on products in 26 and 27. From a reimbursement perspective, there are clear codes for us to get reimbursed and we will focus on delivering our products to the amatory surgical sites in the first instance, these sites are crying out for new technologies to provide advanced care to the ambulatory surgical patients. This is a busy market and we know why there's huge volumes of procedures. However, the most exciting place to look is the emerging sterile endoscope markets with over 80,000,080 5 million in VC funding deployed over the last 36 months into rigid endoscopy alone. This is a really exciting place to be tympani is not just a fast follow, we have two core differentiating factors that are clinically impactful, our self cleaning mechanism and our panoramic visualization. We are seeking to raise 20 million to deliver oscilloscope system to the marketplace. And our have many value inflection points along this roadmap. We are very excited to introduce telescopes to you here today and would really welcome the opportunity to allow us to deliver solid scope a visibly better technology for patients and surgeons and everybody. Thank you

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