LSI USA '23 filling fast. Register Now

Mina Fahim, MediView - Digital Surgery Solution | LSI Europe '22

Speakers

Mina Fahim

Mina Fahim

CEO & President, MediView
Read Biography
MediView is innovating healthcare delivery with a digital surgery solution that harnesses augmented reality (AR) to unlock new insights during ultrasound-based procedures, as well as during procedures in the operating room.

Transcription

Mina Fahim  0:05  

Okay, thanks. It's a pleasure to be here at LSI was at Dana Point in March, awesome show, Great to be here with everybody and excited to share what many of us doing with augmented reality to simplify medical procedures with X ray vision. And if you lose me and my voice drawing drones out, just remember this one picture, which is this is what clinicians see intra operative with many of us solution when they're actually performing percutaneous procedures. This is not for training. This is not for education. But for actual intervention, the clinician can see all the anatomy in real time and see where the instrument is to safely effectively and efficiently deliver care. Our vision is threefold, simplify, democratize and inform healthcare delivery. But what is it that we're simplifying? Why are we trying to democratize and why are procedures difficult today? The problem really is poor visualization that impacts the clinicians confidence to go from puncture to placement of their interventional tool. As procedures become more and more minimally invasive. This then leads right you don't drive down the highway, you know, looking behind you, hoping not to crash. But that's how procedures are done today, with clinicians looking away from their hands looking away from their tool, and it makes procedures are very difficult. They're trying to solve fundamentally 3d problems in black and white, fuzzy 2d. That's really hard. And, for us, our solution is real time Intuitive Surgical navigation and guidance. What you see here is the ability for a clinician to see the anatomy they want when they want it. And they have the ability to customize their views, they have the ability to layer anatomy, in and out. They also have the ability to see the interventional tool before puncture and after puncture. And not only that, there's a lot being talked about in augmented reality today a navigation. MediView uses live imaging, like ultrasound and fluoroscopy to validate the position of the hologram that's under the skin. Today, we're working in the space of oncology. But this truly does scale to other applications such as cardiology, and orthopedics. To date, we've done 30 Almost 30 inhuman procedures under IRB in kidney, liver, spleen, gallbladder and spine, making simple changes and modifications to the system. We also layer in remote and local collaboration so that someone here in the UK could be facilitating a procedure in Southeast Asia, helping see a procedure from the perspective of the operating clinician and guiding them through that procedure. It truly is moving towards the medical Metaverse demonstrating some of the traction and their clinical partners, I won't go down each of them, but some prominent names that you may recognize. And you just see the quotes that our customers and clinicians say when using the MediView solution. And they really surface around three key areas simplify, democratize and inform. But it's not just on the clinical side where we're seeing traction, it's also an industry and for us, we have differentiated holographic surgical navigation. But partnerships with industry in the imaging and the device space is really what's going to drive the adoption and true scope of impact of what many of you delivers. We have a partnership with GE Healthcare the world's largest medical imaging in both ultrasound and fluoroscopy. We're doing work with j&j ablation solution, and we have a partnership non exclusive with the Microsoft HoloLens. As a summary, the things that we have done, the company has been around, it's felt really operational since 2019. We're 31 member team, we've raised $14.5 million to date, we have a solidified and growing patent applicant patent portfolio that really takes care of the registration, the guidance and some of the data analytics that come off of our system. We have a class one registered commercial solution today with the FDA that is revenue generating early traction, early revenue, as well as the other part of our business model which is around contract development. And I'll touch on that in just a second. We have a pending 510 K with the FDA and a submission coming up in the span of a couple of weeks. This truly is a platform that can scale across a number of body systems and procedures. Today, we're using it in oncology, but our patent portfolio We were actually granted claims that cover everything throughout the human body with any imaging modality for any procedure. Today we use it with ultrasound, CT and MRI, but in the future can expand to other imaging modalities as we get into areas such as structural heart and orthopedics. Why are we starting in oncology and ablation? Fundamentally, today, only 26% of indicated patients that could be getting a more minimally invasive and less harsh treatment for their cancer actually find their way through the referral pathway to that procedure. And that's twofold. One is because, again, the difficulty visualizing where the tool is relative to the anatomy, and secondarily, trusting that they're going to get sufficient ablation coverage around the tumor to prevent recurrence 2, 3, 5 years down the road. Simplifying those capabilities of visualization and confidence to get the instrument to a target, we're starting to see that shift procedures into more minimally invasive cancer ablation rather than surgical resection. We truly have an incredible team comes from world class organizations from healthcare consulting, industry clinicians, and across all the key areas to burn down risk in engineering, marketing, commercialization and regulatory. We are very lucky to have Dr. Charles Martin, he's the director of interventional oncology at the Cleveland Clinic, to be our chief medical officer who's been a part of the development process from the very beginning. So I'll just, you know, flash this up here briefly, we look really look at our market as the image guided markets, if we focus on the three areas where we are going to have impact around oncology, cardiology, and ortho, there's substantial market the next 10 years for us to have true penetration, which really assumes about a 1.2% penetration rate. We've talked about two revenue streams for the company so far. So we are revenue generating on both. One is the distribution and sale of our organically developed products from our IP. The second is partnering with the imaging and device companies. We actually heard this from one of them, they said, you kind of gave us a little bit of FOMO, because we saw another manufacturers system built into this. And we're like, Well, why can't we? And we said, well, you can, it's just not free. So partner with us to do it from a development and joint go to market perspective, both of those revenue streams have been proven to be viable today. Our business model really starts out more traditional, like traditional med device, however, where this aside and one of the panelists talked about it this concept of medical device as a service, that's not so capital intensive, is really where we're headed to be able to amortize the cost of any capital equipment and or disposables into longitudinal subscriptions, that is felt less of a burden by the institutions is really where we're headed. And today, right, and med tech discussion that doesn't at least talk about the opportunity to leverage data would be incomplete in our system. If you just think back to that video, we track the instrument every single instance of every single procedure harvested and someday know that it'll be valuable to inform future procedures. We really are a three tiered capability, like I said, commercial class one appending 510 K for ultrasound trajectory modeling, and then full holographic surgical navigation. It's a platform that builds not three separate products with revenue generation from commercial class one, pending our applications for class two, I'm gonna skip through the competitive sides. Come back to it. We're in the middle of raising our Series A $30 million round. We will close in q4 of this year focus on four key areas, clinical evidence and traction, development, partnership, and our go to market supporting our customers for adoption. Thanks for the time appreciate it. Happy to answer any questions from the team

 

 

Join us at the next LSI Emerging Medtech Summit

LSI's global events attract top innovators, active investors, and deal-making strategics.

GET INFO

Share this video

Companies We Work With