Moray Medical | Mark Barrish, CEO

Moray Medical is harnessing robotics to democratize edge-to-edge mitral valve repair. The company's initial product is the Coral system, which will combine augmented reality (AR) visualization, a digital user interface, and microfluidics to simplify mitral valve repair procedures.
Mark Barrish
Mark Barrish
Co-Founder & CEO, Moray Medical

Mark Barrish  0:01  
Thank you, Shannon. I am Mark Barish, co founder of Moray medical, we are bringing robotics to the structural heart space.

Closer to the microphone. Okay, there we go. We're, we're bringing robotics to the structural heartspace, to empower doctors. Thousands of doctors to treat millions of millions of their patients. So the surgical robotics boom, has really been taking hold. It really started 20 years ago when I first worked with Intuitive Surgical. And it's really just grown in momentum, with a whole series of billion plus dollar valuation companies being founded within the last several years. And it turns out, doctors love using robots. And it's really this user preference that has driven adoption on a category by category basis. And that's really established that robotics is the future of surgery. But nonetheless, robots are still only used in 3% of procedures. And it's worth looking at looking at that and say, Well, what's kind of holding it back? Well, look, robots are expensive, and reduce costs would be a great start. Turns out that it takes longer to do procedures robotically than it does manually. So robotic architectures that actually fit better in the workflow in the in the operating theater would have a huge advantage. And lastly, while there's great clinical evidence that robots are safe and effective, and now that the doctors really prefer using them.

But what's really needed is evidence showing that the robotic procedures really get better patient outcomes. And so this is this all comes together in in what we think is an important conclusion. And that's like a next generation robotic platform that can give the user experience that, that doctors really love. But that provides better economics, better efficiency, and lower cost, and also provides better patient outcomes is is really going to be the game changer.

Moray medical has developed that next generation robotic platform, in order to make it as easy to move around inside the beating heart as it is to move your cursor on your computer screen. We've developed and patented three technologies, our microfluidic drive system, our input device, which is a patented software on a on a touchscreen device, a phone, but it's one with LIDAR capability. And then augmented reality, user environment, which really gives unprecedented situational awareness and predictability to the whole procedure. And together these these technologies, this this last one is actually really cool, allows you to bring in a an AR robot and then manually insert a physical robot, and it bends as you're manually inserting it to follow the path you defined with the with the AR robot. Anyway, these these three technologies really help drive the economics and and efficiency side to provide the patient outcome inside.Moray is going to expand availability of transcatheter therapies that patients desperately need, but which far too often they just cannot get. And transcatheter edge to edge repair or teer, that's the generic term for the mitral clip, is a is a great example. It's a $30,000 single use disposable, typically driven by two doctors trying to coordinate the rotation of of knobs to get things to move in the direction they want, sometimes referred to as the Etch A Sketch from Hell

There's great clinical evidence that this therapy has advantages in morbidity and mortality and quality of life. And that huge patient population could really benefit from this therapy. But there are far too few doctors that can actually have that skill set to actually deliver this therapy for it to ever really meet this patient need.

So, Philip Laby and I founded  Moray Medical we did it to replace this gear knob approach with an intuitive robotic user interface. I can say that, and Philip's been the architect behind a whole series of groundbreaking medical robots and my background with Intuitive and with a whole series of, of Silicon Valley, med tech companies has allowed us to pull together a pretty amazing team. Fred St. Goar, the clinician who invented the mitral clip, the founder of Evalve and brought it to market has been just a huge help.

Let's say we initially were funded by a rockstar group of individual investors. Last year, we brought in institutional investors that just have spectacular domain knowledge, particularly in the in the structural heartspace. So, teer is our beachhead, and we think it's actually a fantastic beachhead, not just because it by itself is a great market. But the mitral clip for all its challenges, has been the baseline for a whole series of mitral and tricuspid therapy, delivery systems and success and teer really sets up Moray for success throughout the valve repair market. And of course, of course, the transcatheter therapy market that could be addressed by robotics extends well beyond just valves and architecture with our fluid drive back end, reusable system, and a series of alternative plug and play disposable catheters, really sets us up to address a whole series of multibillion dollar interventional market needs.

So like a lot of robotic companies that, you will, or may be familiar with, we can generate revenue, both from capital equipment sales and disposable sales. But unlike, say, pull wire, and all of the robots that are out there, pull wire right now. Those systems are cogs are significantly less like less than an order of magnitude in cost. In fact, I think we're the first robotic venture that will actually replace a mechanical system with a delivery on a on a cogs basis, penciled out per patient. That's lower than than manual therapies. We know that along with delivering off the off the shelf therapies and working with startups, that strategics are going to want to control the delivery and chain of distribution of their devices. So doctors, on the other hand, do not want to learn a series of different robots, particularly when they're going to deliver multiple therapies in one patient. So we're setting up a joint venture structure to allow us to work with with different companies. We think it's the right thing to do for business. And really, it's definitely the right thing for the patients.

We've, we've just this year, done live animals in which we've used our augmented reality system, this manual insertion system, while the robot bends robotically, we are we've got a validation from the FDA that our 510 K filing plan path does not need any human clinicals for us to get started. And we're looking to raise funds in the next while to fund our 510 K filing, which we're going to finish this year and do our first in-human within just about a year from now. In fact, slightly less than a year from now. So in summary, we've got an amazing team, huge markets technology, which is very, very cool. reimbursement is already out there that covers us and 20 issued patents and a regulatory pathway that's already validated. So join our effort and help fix broken hearts. Thank you

LSI Europe ‘24 is filling fast. Secure your spot today to join Medtech and Healthtech leaders.

September 16-20, 2024 The Ritz-Carlton - Sintra, Portugal Register arrow