Michael Phillips Presents Vena Medical at LSI USA ‘23

Transcription

So I'm Michael, Co-Founder of Vena Medical, and we're providing physicians with the world's smallest camera. This is not clipart. This is not a mock up. This is a picture of our product next to a dime. We decided to use this technology to go inside veins and arteries to help physicians treat stroke. Currently, there are 800,000 strokes each year in the US. And they have a devastating ramification on those patients. The healthcare system spends $34 billion treating those stroke victims, when the health care system no longer covers the care that they need. The families spend another $34 billion. Everybody knows somebody that has suffered a stroke. And they know the impact that it can have. Stroke leaves millions of victims unable to speak, unable to walk. And it has a huge impact on their loved ones as well the same way it did to my grandfather 25 years ago. They made great strides and how they treat stroke since then. And now they're able to physically go up there and mechanically pull the clot out. But when physicians want to do this, they need to use X ray from outside the body. And this is the x ray that they're looking at to pull clots out of people's brains were mechanical engineers from the University of Waterloo. And we spent the last few years developing our technology at the Texas Medical Center, through preclinical pilots at the Baylor College of Medicine and UTMB health, we've shown that our camera can do things that the gold standard x ray simply cannot do. We can image beforehand and tell them what type of cloth they're dealing with. Whether it's red or white, like you can see behind me, this has a direct impact on which $8,000 device they should be using to treat that patient. This red clot is even an example of one that didn't show up on X ray, and would have gone on to block smaller arteries if we hadn't caught it. While developing this product through our preclinical pilots, we actually developed a second device in order to get ourselves better images with our camera. But it turns out, this is also better at pulling clots out. Introducing the vena balloon distal axis catheter. This is already health candidate cleared and we're working on an FDA clearance now. This is Wai Lee the first patient ever treated with Vena technology. She had full right side precice and was unable to speak. And Dr. Mage went in there with the vena bedeck pulled the clot out on the first try in less than 10 minutes. Already on the table, she was able to use her right hand again. Later, two days later, she was able to walk out of that hospital. Getting the clot out on the first try has a huge impact on these patients and they're even cheaper to treat. So this is the gold standard metric that physicians are trying to improve now. Through our clinical pilot at The Ottawa Hospital up in Canada, we've shown that we're able to improve the industry average first pass success rate of 44% to 64%. To put that in perspective, for that hospital, it led to half a million dollars in annual savings. Next, with the first person point of view, and the real time perspective of our camera, we plan on improving that first pass success rate of 64% with the vena BTEC all the way to our preclinical pilot 100% first pass success rate. If we're able to accomplish that that can lead up to a $2 million in annual savings for the average size hospital. Currently, there are 240,000 procedures each year in the US that require the use of our technology. Each one of our systems sells for $8,000 between our two devices. But these are single use devices and each patient means another camera. This is powerful, because that means that we have a $1.9 billion beachhead market opportunity here. We've seen received significant funding from industry experts such as Maria boy Tez, who's that for successful exits to Medtronic neurovascular, Dr. Peter Ken, who actually invested in our company after using our device in our preclinical pilots, as well as Y Combinator down in Silicon Valley. Over the next 12 months, we'll be focusing on getting an FDA clearance or first we'll do a first inhuman pilot for the camera, where we'll then publish the results. And shortly after that, we'll have our first commercial cases in the US. So to reiterate, we are less than a year from us launch. So we're vino medical. We have the world's smallest camera that's a third of a millimeter in diameter, more than happy to show it to you. We have clinically proven return on investment for hospitals already. And we have a 1.9 annual beach add 1.9 billion annual beachhead market opportunity because every patient is another camera. Thank you.