LSI USA '23 filling fast. Register Now

Phagenesis | Reinhard Krickl, CEO

Speakers

Reinhard Krickl

Reinhard Krickl

CEO, Phagenesis
Read Biography
Introduced through the nose, the Phagenyx catheter delivers electrical stimulation to the throat to treat dysphagia (difficulty swallowing).

(Transcription)

Reinhard Krickl  0:00  

Hello, good morning. My name is Reinhard Krickl, CEO of for Phagenesis, and my talk is going to take nine minutes. So the length of stay for you for my presentation is nine minutes. Let me show you a welling so stay on matters. So I need to get the clicker, and then we go. slides up. Perfect. What were you're asking for to start with is 25 million equity rounds to be raised in the second half of this year. We want to scale European and US commercialization with this round. We have CE mark, we expect to have FDA approval this summer. So this will be a POS FTE round. And to set your context and I'll come back in a minute for my length of stay argument or a second ago. Critical Care capacity is a scarce resource. We have all learned that painfully, during COVID You know, wearing masks, having lockdowns being vaccinated, all these kind of things were required to manage unlimited critical care capacities. Now without you know, COVID, basically out of the door, we think it's resolved. Well, unfortunately, the bad news is it's not resolved because actually staff critical care staff is burnout. Nurses have quit their job. So it's really a drain of people in the critical care. So critical care beds nowadays can't be staffed anymore properly. So it remains a scarce resource, even post COVID And there's no short term fix, unfortunately. So why does length of stay matter? So I come back to that, because for patients obviously, they can if they treat it, well, they can get out of the ICU faster. Get home earlier for the healthcare system matters, because reducing length of stay frees up beds and saves dollars. That's what we want, right? And why is this important? Because we can make a difference with photonics, because by treating this failure, which actually prevents this charging patients in large monitors from the from Niccolo care, we can reduce length of stay because dysphasia basically, the patient's can't swallow or come manage even their own secretions is associated with increased length of stay because longer duration of intubation of Toyotomi risk of readmissions and independent predictor of death for Chantix is a new stimulator, which treats this feature and for the first time this feature can be treated in the critical care that wasn't possible for there is no treatment option in the moment available. And by the way, just to clarify that we have done our homework to get ready for commercialization. So we have compelling clinical data within 15 studies being published in Lancet including seven RCTs. We have seen Margot ADEA mentioned that we are FDA breakthrough designation. So we will we expect him to have FDA clearance this summer, we have proven that we can significantly reduce length of stay there it is again, length of stay so important. So so that means we can save dollars, we can actually free up people care capacity, as we speak about dollars, by the way, we have entered reimbursement with FDA approval for that gets an additional upside to find our system, we own the space. So we have invented that it's we're the first of its kind. So we have strong people for to protect protected space, and those who have to go through a de novo approval, because we actually first in that whole space of creating that space. And we have a strong team. We are European company based in the United Kingdom. But we already have a strong executive team in us getting ready for launch here. So there we go. And just to kind of give you a little bit better understanding what's the problem about and apologies for a little bit simple comparison. But I think it's important for us to understand what this is about. Imagine the following. A river overflows its banks because of a massive clock. Well, all our efforts now focus on fighting the water with water buckets, it's not going to be very productive. Because guess what, the river keeps flooding if you don't remove the problem if you don't remove the cause of the flooding, which in this case is a clock. So let me go to my world. Of course, patients who can't swallow aspirate their own secretions. So saliva spills into the airway, so that keeps saliva being produced. It can't be solid away. So it's kind of same thing which has to be done is to current and of course frequent suctioning. So you're actually fighting the water with the buckets again, which is sucking away but we don't treat the costs and but not treating the cause. Let's see the clock in my river example. The patient doesn't get better. But with treating for Genex in the critical care of suddenly can move the cause we can treat the costs and the patient actually can remain or get better. So for Genex that's our product and your Stimulator regains volume control, treating this failure directly in the critical care. I told you that's not possible right now, so it makes a huge difference. How does photonics work? pretty simple for Gen X retrains the brain in three days. So it's a newer satellite, I mentioned it before, we simulated with three consecutive days, which is put a very simple catheter through the nose, touch it with the electrodes, the fairings being connected to the base station you see in the picture. And by stimulating the firings, we reactivate the brain is like a strong sensory input which retrains the brain in three days. The good thing is that temporary therapy just has been a plant for three days, there's no implant, which is just put through the nose touching the fairings, there's no surgery. And there's also that's so critical for treating patients in critical care. There's no patient involvement required, we can do that without patient being actively involved. And we can do it while still breathing tubes are in place. And there are serious adverse events in any of our studies. And there's over 700 patients been studied right now. So it's a really safe device. So basically, how can we now reduce length of stay? So the one thing you should take away from that from that slide is we can reduce lengths and stay in different critical care setups. In for example, dichotomize patients, we have shown and FasTrak 22 days length of stay reduction, 22 days for intubated patients, two new studies being published this year, 113 days length of stay reduction, one seven days length of stay reduction, that's a lot it's weeks to months length of stay reduction, depending on the care setup. What does it mean in terms of health, economic impact. So this slide shows you for the United States, everyday length of stay, basically reduce, reduce, reduce also cost to the caregiver or to the hospital. So what you see is already on day three, there's a net benefit for the hospital, after in purchasing our device, After done all the treatments, on from day three onwards, it's a positive. So I told you in our studies, we have shown seven to 22 days length of stay reduction. So do you see what this is on our chart, for example, seven days, it gets us about 9000 net benefit per patient. And of course, the more days we saved, the better it is. So we have calculated the annual impact. For example, for an average ICU here in the neighborhood, UCSF, about 1 million net savings, but also I told you freeing up beds is important. So 12 additional patients can be treated in the ICU per year, because he free up as we get the patients out faster. It's a critical scarce resource for the Eltech setup. Gaylord is an example on the East Coast is an Eltech because also their patients are withdrawing the automates and need to be dealt with about about a million net savings for those and 29 additional patients can be treated in their care facility, keep in mind is about 10 to 15% of the overall stroke population. And by the way, that example is only for Medicare stroke patients. It's not the entire population. I just kept it conservative. Let me just Yep. Just also mentioned one thing is I spoke about the mechanical ventilation case, of course, the range of dysphasia is larger. So there's also after stroke patients have a high likelihood of being this stage ik even without critical care setup, even without ventilation. We're also patients with persistent dysphasia care is something we can help with. So those patients would actually fall out of the system still that is stage and not properly addressed. So the opportunity we target is even bigger and mentioned now in a mechanical ventilation space. Because it's of course the biggest, biggest business opportunity. Our model is really the razorblade model. So we charge four and a half 1000 catheter costs per patient 90% Gross Margin already now without actually yet scaling the business and we are active commercial in Europe. And we expect it's kind of a two to 2.3 million tam across the United States in Europe. Take Home Message improves outcomes, decreases cost of care and frees up beds length of stay I told you and standard retreats dysphagia in the critical care. It's just not something possible right now. And this is my last slide. We commercialized in Europe go to market 2022 In United States this year 25 In an equity round that's what we look for possible FDA we establishing right now. Also strategic partnership discussions, and we're looking for a trade sale IPO three years. See what's going to happen. Thank you very much. My length of stay is up

 

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

Our Clients