Patryk Kania, Field Orthopaedics - Cannulated Screws & Intramedullary Nailing System | LSI USA '24

Patryk Kania  0:04  
Good morning, everybody. Thanks for showing up. I really appreciate it. So I'm Patryk Konya on the CEO of Field Orthopaedics. I'm here to close out my $7 million capital raise based on a pre money value of 3.2 million. So what do we do? Based out of Australia, we are a startup that relies on a exclusive distribution agreement that we have in place with minority. So we've got a vast sales network in the US. And we're really here to advance orthopedic hand surgery through innovating and delivering best in class, hand implants and solutions. Our mission today really is to set a new gold standard of platelets, finger fracture management, that's today. So why hands, two of our co founders are hand surgeons, they were extremely frustrated with the fact that hand the hand space, the segment of handles predicts is highly or lacks of innovation, and more importantly, really gets no attention by the big Oracle's. And they were surprised every 30 seconds, somebody in the US fractures their finger, that really amounts to about a $2 billion total addressable market in the US alone $5 billion across the world. More importantly, the patient outcomes are really poor, and complication rates are really high. So if you look at today's gold standard nonoperative K wires and plates, one in three patients or surgeries arounds into complication that's really unacceptable in our eyes, and also the return to work to the recovery period for patients is up to two months. If you look at I am nails, this is what we're doing. quick procedure, and patients get back to work very fast. So really, what we're suggesting is a paradigm shift, right, we're really trying to move and very big invasive surgery that takes typically an hour to something very small, medium invasive, skin to skin typically 10 to 15 minutes, and patients are back within a week. So we went to work, we created the annex system, we approached Duke Health work with a couple of hand surgeons exclusively to create the annex nail which is really a product and intramedullary nail that addresses all fractures that are related to shaft or close to joint line fractures. And then we created the smallest cannulated screw 1.5 millimeters, again cannulated screw to address intra articular fractures and you could see even there, the hole there on the right picture. That's That's how small the the screw is. So we incorporated minimally invasive surgery. So we provide tools to assist. We created tools in terms of templating. ready for surgery kits, sterile, non sterile. And most importantly, we created an implant that is actually anatomically designed for the hand. So why do we need to be different in the hand? Quickly, the isthmus exam I talked about this within a second is the most narrow part of a long bone. And it's very different enhance compared to a tibia or a femur. So if you look at the hand anatomy, that is a cross section of a thumb and index finger middle four, so a full hand. And you can see you've got all sorts of shapes, heart shapes, all shapes, round shapes, makes it very unique, completely different to the tibia, or any other long bone effect. If you then take a CT scan, you can see not only are we dealing with different shapes, we're different. We're dealing with different cortices and sizes. So your typical ring finger could be two millimeters wide and the isthmus and your adjacent fifth metacarpal can be 3.5 millimeters so that that presents a lot of complexity. You bring in female versus male hands. It's it gets it gets complex to really have the right implant. So we created the annex nail really quickly we we merged nails and screws together into an annex. Now we've got a unique thread design that allows us to be non compressive. We have a compaction paper that gives us the rotational stability and 33% more engagement and most importantly we have a smooth shaft that maximizes viscoelastic properties. So we get back pay shins to what they love. It was an injury, no one saw coming. I was swimming into a wall as per usual, my warmup for my 100 Freestyle that day and another server in front of me has turned and push off the wall. And as she's pushed off my fingers have, unfortunately gone down the back of her toes and she's rotated around and taken my fingers with her. The result, a spiral break in shyness finger. Shana flew home to Brisbane and had surgery on her hand by one of the world's best. Just six days after the injury. She was back in the pool. Now she's ready for her next challenge. The Commonwealth Games are ready to go, will you be given the hand? Ah, it's limited. It's going I get goosebumps every time I see this. That's what we do. We get patients back to what they love doing. Within six days, she went on to win multiple gold mills and is ready now for the Paris Olympics as well, commercial traction in my last minute I have since a lot a soft launch in 2022. Through our relationship with minorities, we managed to generate over 3 million US dollars in sales. And with the launch of sterile, we're going to scale that up to $10 million this year. We're already tracking ahead of schedule for q1. We are not stopping there. We're all so excited to enter a new market, which is the Coppa metacarpal arthritis. So it's arthritic base of thumb and other billion dollar market opportunity for us heavily under under service. Warning for workers is affected by this, the patients are getting younger. And as I said it's a very interesting market opportunity for us. So we're introducing grip plasti. That's the only slide I have this still fairly confidential and we're submitting 510 K in in a couple of weeks. We can probably add another million this year and $5 million next year, which is really straightforward. 10 surgeons for states two cases per week. So ready to conclude. We've proven that we can execute through our annex nail system we have great plasti readiness, very clean cap table attractive term sheet, pre money value of 3.2 As I mentioned, with the Debt Debt conversion, and we also have a built in clear pathway to liquidity. Thank you very much