Thierry Thaure Presents GT Metabolic Solutions at LSI USA '23

Transcription

Thierry Thaure  0:05  

Good morning. So 40 years ago, there was a laparoscopic surgical revolution. And the one of the key workhorses for these first surgeons was the was the laparoscopic GIA. This is a linear stapler that revolutionize thoracic surgery, general surgery, colon surgery and bariatric surgery. What we're going to do is replace this with this. So we're a clinically staged company. We've done over 50 cases, we're targeting bariatric digestive and Metabolic Surgery. We have an incisionless technology. So with our technology, you do not surgeons do not need to make an incision in the Oregon which is critical. And the recovery, our procedures can can can be done in an outpatient setting, just in bariatric surgery, or TAM is about $3 billion were led by a seasoned team. And we're focused today on getting a regulatory approvals. So starting in bariatric surgery, it's a it's a very large market. There's not been a lot of successes, except for except maybe in the last last few years. But today only surgeons, bariatric surgeons control these patients. Dieticians, GPs and gastroenterologists have very limited roles. So just by the numbers, there's there's about a million procedures worldwide. In the US, there's about 250,000 cases, and that represents 1% eligible patients choosing to get surgeries every year. So 99% of the of the patients choose not to have bariatric surgery, even though the profile the safety profile of the procedures today are the same as as in gallbladder surgery. So if if you could dramatically change this paradigm, you could you could really, you could grow the market tremendously. So the anastomotic market is, is estimated to be over $5 billion. So it's it's very common, all our reconstructive surgeons that do reconstructive surgeries, use GIA's and do these unasked samosas on a daily basis. Recently as as you might be aware, the bariatric societies, the International and the US Bariatric Society have dramatically increased their recommendations for surgery. And it's it's the, the market believes that it's really started starting to grow for not only for weight loss but also for for Metabolic Surgery for for the treatment of diabetes. My partner Michel is a is a key pioneer in the field but also is is was the inventor of the sleeve gastrectomy. The sleeve gastrectomy represents 60% market share of all the procedures done all over the world. And then young surgeons, surgeons that are less than 50 years old that represents close to 80% of the of the procedures worldwide. And all over the world. They do these procedures for the sleeve gastrectomy like Michelle again you taught them. So, so this is the the team the founding team. This is my eighth startup. Michelle Ganja is is the most recognized surgeon in digestive surgery and Bariatric surgery is over 400 articles. We will have close to 20 publications and presentations and societies this year. Todd is runs a group of engineers in Minneapolis and Lisa is our Chief Regulatory Officer. We're really focused on regulatory approval, but we are we will grow our revenues by teaching new procedures. Number five, we will have an incisionless procedure for colon surgery where there's will there'll be no incisions inside the GI tract, we will have a gastrojejunostomy and the gastro ileostomy procedure that we will teach general surgeons. We have a Metabolic Surgery procedure. We have a sleeve revision procedure and we have a primary safety procedures. Each of these categories are are represent over a billion dollar market opportunity for the company. So So here are the three there's really two technologies that are in the market today. There's suturing on the right the Uh, these patients have open open surgery that require five to six days in the hospital recovery, GIA's and laparoscopy was one to three days with our technology is bariatric surgery and general surgery and colorectal surgery can move to an outpatient setting. This is our end effector. Our end effector is actually a magnet. Our magnet has a soft, it has a flat surface, which does the necrosis and it has a gutter around the magnet. And that's where the healing happens. And I'll show you kind of how it works. This is the commercial version that is in clinical trials today. And so here's the next explanation to how it's used. So this is a sleeve patient that had a sleeve maybe three or four years ago, has not hit the weight loss that they that they desired. So the surgeon would place the first magnet trans orally on a catheter would would drive it with an endoscope as far as they can go to the ligaments of Trites. We the surgeon would drag it to the area that he wishes to make the unasked samosas while he's doing that a second magnet is placed just beyond the pylorus. The two are laparoscopically lifted together, and the two magnets lock. And then the magic happens the there's a slow necrosis and over the next two to three weeks, this, the magnets drop automatically. And, and these, the anassa Moses is formed. So when you have weighed in here, here's some capabilities just to show you just to show you how it works. So now the surgeon is driving the magnet. And then and then there's a system to catch the magnet laparoscopically. And then you can move move the magnet to the right location. And with with the same tool, you can actually lift the you'll see in a second lift the the ileum here to the duodenum where there's a second magnet and and then you can you can let go and then do some fine tuning and then there's a fusion and little by little over the next three to four weeks the magnet drops and then you have a bifurcation and you have and so this is a procedure that doesn't there's no incision inside the GI tract there's it's a very slow forming and assamoses and and and this patient can be sent home right after the procedure and the procedure takes will take 15 to 20 minutes in the operating room. So we are we are about to get our first commercial approvals. In Canada, we should expect approval a CE mark of our first generation product next year. And and but it's not just bariatric surgery, it's also general surgery. There's there we've identified over 50 procedures that were that we're magnets can be used to form an astimoses a less invasive way, here's just a list of some of these procedures that are done every day at hospitals all over the all over the world. So on funding, we've, we more or less self funded the first the first first few years. We raised $15 million early last year. And we will be raising a $3 million round at the end at the end of this year. We would welcome an institutional investor to take a piece of a piece of that round, although we have we are accepting term sheets at this this moment. So we have over 26 patents on our technology. And we've bariatric surgery is a hot market. There's been three acquisitions in the last in the last few few years. And new players are coming in to look at different technologies. So I think it's an exciting environment for for investors. So we believe this is a game changing technology and with a huge TAMand this is much easier for surgeons to do in one half or 1/3 of the time. It's a lot cheaper for the healthcare system. And and so we expect we expect to have very rapid rate Pretty growth in revenue. In the market research we found there's when we interview bariatric surgeons, would you like to operate this way? We get enough standing between 90 and 100%. Absolutely. Because some of these some of these anastomosisthat they have to do whether it's robotically or or through sewing or stapling our there's always a risk of, of bleed and risk of leak. And in with this technology, there's there's virtually no risk of bleeding and no risk of a leak. Great, thank you so much.