John Chi 0:00
Hi, I'm John Chi. I'm the CEO of Synova. Life Sciences. We enable new treatments in medicine and longevity. Our vision is to help people live longer, healthier lives by making it possible for them to for everyone to have access to their own stem cells. We make a device that gets stem cells out of fat 30 times faster than the current gold standard. Reducing the extraction time from hours to minutes, and then we also get more cells. Now stem cells have shown the potential to reverse many chronic degenerative conditions that currently have no cure, like liver cirrhosis, or emphysema or stroke, heart attack and osteoarthritis, and many more. Now, fat is arguably the best source of stem cells in the human body. It has 500 to 2500 times more stem cells than anywhere else in the body. It's easily accessible, and most people have more than what they want. But the stem cells are trapped in the fat. So the current way of getting stem cells out of fat is slow. It's complex, and it uses chemicals and enzymes that can damage the cells. It can take three to four hours just to process the cells for a single patient, and it raises red flags for the FDA. Our patented device makes getting those stem cells out easy in just three minutes, we get 50% more cells in using a sterile disposable cartridge. And we don't use any chemicals or enzymes. We're addressing a $60 billion market in two segments in cosmetics and orthopedics. And that's with 10 billion in cosmetics, and 50 billion in orthopedics. And then with an estimated 100 devices, in production in 2024, we will hit a 600k MRR, we will first launch in cosmetics upon receiving our 510 K. And that clearance is anticipated to be in q1 of 2023. And this unlocks several LOIs and commitments. One of them is from one of the largest cosmetics medical device manufacturers and distributors in the world. And this is an inflection point for our series A raise. And so again, with 100 devices deployed in 2024, we will hit 600k MRR. We also have a collaboration with in orthopedics with one of the largest health systems in the US. And so with that, we're currently in early studies that would ultimately lead to clinical trials and launching into orthopedics in 2024.
While our current focus is in point of care, our our applications and other pipelines demonstrate that we've created a platform for cell therapy. We have two pilots with to spin out companies from Stanford in tissue engineering, also in wound healing. And then we have collaborations with stem cell banks, they want to be able to bank the cells in fat and need to process high volumes of customers very quickly, and also in clean meats. So every one of the segments is using stem cells. And so being able to get them is a huge pain point to be able to get them quickly and efficiently. Our patented process uses modified shockwaves to break up the fat to release the stem cells. In point of care,for example, at a doctor's office, the doctor would harvest a small amount of fat from the patient, typically less than two ounces, and then load that fat into our disposable cartridge. Put the cartridges in the device, press the button, and then in three minutes, the stem cells are ready or the stem cells and fat are ready to be deployed. It's so it's like a keurig for stem cells. And all of the IP was developed in house and is owned by Synova. And we've already been awarded patents in the EU, Mexico, Australia, Korea and Japan and anticipate other jurisdictions including the US to follow soon. We're currently have iterated through many prototypes, and we're testing our market ready prototypes. And so that's gearing up for a 510 K submission. And we just brought on a 510 K consultant, who's in the last 18 months has submitted 25, 510k applications in our space and gotten clearances for all of them. So we're definitely happy and happy that we got the right person and ourselves from our process are visibly healthier, but they're rounder, more uniform in size, and the yields are significantly higher, which we validated using automated cell counters. And then, in this visualization, you can also see that the cells are higher yield that we cultured side by side.
Our results have also been validated by third party independent lab. And this was a lab that was we were directed to use by one of our investors in due diligence, and so 3.36 million cells for us 2.25 million for the enzymes. And this lab was so impressed with ourselves that for their customers who were using stem cells, they started referring those customers to us. So we have hands down the fastest processing time of any of our compared to any of our competitors. And we also have the highest yields. We have validated traction through 60 procedures, 2 million in contracts and LOIs in 2 million in LOIs, with many of these being unlocked by our 510 K clearance. Some of our clinical partners include Kayla wells, from Stanford, Northwell health, and also Scripps. And these cover areas that include cosmetics, orthopedics, nerve protection, and also heart conditions. So what we're building is a longer healthier tomorrow, where we'll be able to restore the body from injuries and degeneration. I'm John chi. I'm an electrical engineer out of Stanford and have a master's in biotechnology. I'm the inventor of the device. And Rob Kent, our COO has brought 10 class 2 medical devices to market. So after this one, Rob will be able to say I now go up to 11. And Michel Haddad our CMO has secured millions in contracts. And he's already built the channels that will allow us to scale and quickly. So we're Y Combinator backed and are part of Stanford startups med as well as creative destruction lab. And we raised 2.7 million in our seed round, we're opening up 1.5 million to accelerate through our 510 K with our anticipated series A coming in 10 to 12 months. So I just want to leave you with this last thought. It's one of my favorite quotes. Mark Twain said that in 20 years, you will be more disappointed by the things you didn't do than the things that you did do. So in our vision, ou will still have the time and the health to do the things that you didn't do. And that's why we do what we do. Thank you