Ananth Ravi Presents Molli Surgical at LSI USA '23

Transcription

Ananth Ravi  0:04  

Hello, everyone. My name is Ananth Ravi. I'm the CEO, and co founder of Molli Surgical. Molli Surgical is a medical device company whose vision is to improve and make precision surgery simpler. So thank you for your time and attention. As I share a little bit about our vision, and our progress today. Let me begin with telling you a little story about Mrs. Smith. I had the great honor of meeting her when I was a clinical physicist, and one of the larger oncology programs in in Toronto and Canada. I met her as part of a patient family advisory council meeting, where she recounted her journey with breast cancer, specifically breast cancer surgery. And the way she described it, the visceral descriptions it sounds like it happened to her just yesterday when it actually happened two years prior. And the story begins with her fasting the night before showing up into radiology and having two wires similar to those on the screen placed. And then she waited. She waited for surgery, because the surgeons use these wires to find lesion for removal. She waited for several hours and pain, anxiety, and she ended up fainting. And so as part of this meeting, while we're sitting there, we were compelled to do something about it. And this was how Moll was born. And up until that time in my clinical career, I was so focused on getting in more dose affecting cure. But this story really turned a light bulb on for all of us. And we realized that a patient journey through treatment is just as important as the treatment itself. And it often colors their experience far more than we can imagine. And so we built a team that believed in that same vision. Unfortunately, this is not isolated to Mrs. Smith, there are over 2 million patients that are diagnosed with breast cancer every year 70% of these women are and Patients are eligible for breast conserving surgery, in the vast majority of these patients actually receive wire. So there is a tremendous market and a large number of people whose experience with breast cancer care can be improved. And this is just the start because Molli is not just for breast and I'll talk a little bit about this later on in the presentation. But we plan to be beyond that as well. So what is our solution, our solution is simple and reliable. We implant a tiny, magnetic permanent magnetic marker into the breast and it's the size of a sesame seed so you no longer have these wires sticking out of the breast causing pain and discomfort for the patient. And in surgery, the surgeon uses a wand and a tablet much like a GPS to localize the lesion and then remove it with unprecedented precision. And the benefit is because we use this permanent marker it is magnet it's it is 100% reliable, meaning that when a radiologist place it in in radiology up to 30 days prior to surgery, the surgeon knows that they'll be able to find that lesion with confidence when they need it most. And the reason why we are so confident in the technology is that we've designed it with a passion for patient and really innovate with purpose. And I personally have had experiences with inexact medical device design that results in treatment errors and treatment outcomes that are unforeseen. And so we obsess over all of these details. Because these details matter. They reduce risk, they reduce burden on patients, they reduce burden on physicians and the healthcare system in general. And so just take for example, our marker I've already talked about it being a permanent magnet and we chose that purposefully because you will always be able to detect it. But it's also the smallest marker on the market because we know lesion sizes are decreasing and ever getting smaller. The introducer we've spent tremendous effort trying to make it as sharp as possible so that forces penetration for a radiologist is minimal, allowing them to localize even the toughest of lesions with confidence. And in surgery, we spent the effort of making our wand so that it accommodates all surgeons. It's got a slim handle to allow for smaller hands and a tapered tip so that surgeons can do submit small incisions and sophisticated breast conserving surgeries that end up with optimal cosmetic results. Our tablet is designed with real ergonomic principles of reducing physical and cognitive burden on providers. So it's mountable on IV pole so surgeons don't have to hunched over to look at the monitor. And the interface is simple and intuitive. And we got an extra step of actually having a classically plate train pianist program the sound to reduce that cognitive burden for our physicians. And the reduction of burden doesn't stop with patients and physicians. We've extended that to the health care system. So with wire based breasts procedures, it's much like a three legged stool I keep referring to And the reason for that is radiology, surgery and pathology all have to act in concert to hold that system up. If one of them goes a little bit awry, the whole system goes into delay and disarray. With Molli, the surgeon, the radiologists can implant the marker 30 days in advance. So we really decouple the two from each other, and they both can increase their efficiencies and optimize their workflows. And we've seen up to 40% improvement in capacity for each of these departments. So significant improvements at a systems level as well. And for these reasons, we've been fortunate to be able to influence the lives and improve the care for over 5000 patients. And we've done that over 60 institutions across North America. And their sizes range from small regional facilities that treat around 50 to 75 cancers a year to large academic facilities that do 600 plus. And this is all within the first year of commercial sales. And we'd like to think that some of this has been accelerated by our various procurement models, we have two main procurement models one, which is a pay as you go model where the capital is placed in a second more traditional where you've got a disposable and capital procurement, and both benefit from favorable margins. In terms of additional confidence, which has been really great for us as we've received administrative support and their their ability and their confidence to shine through in them signing on for long term contracts, and this is committed revenue, or large upfront purchases of disposables that will take them off for several years. And finally, because Molly offers this operational efficiency, we have a very favorable reimbursement envelope in which really, health care systems of all sizes can procure the technology. along our journey, we have really benefited and are really grateful for receiving both, you know, our peer and publication recognition. It was really gratifying to be named as times best invention for 2022. And to fast companies next best thing in tech. But for our team, what was gratifying is to be named as GHPs most patient focused developer for 2022. And like everyone, this could not have been done without our team, specifically our senior leadership team, we have a team of really proven leaders who have demonstrated excellence in each of their various disciplines, and we benefit from their ongoing support and direction every single day. In addition to that we are supported by an amazing cast of brilliant people. Our company is really divided in half between engineering and clinical specialists and sales and marketing. And the we we've done this purposefully because it ensures that we have this urgent pace of innovation and commercialization to see us into our bold future. And the future as we see it as a company is as follows. We see the promise of Radiology and radiology, we're able to now interrogate lesions down to submillimeter accuracy, and see function like we've never been able to before on a cellular level. And in in surgery, we have minimally invasive procedures and robotics that are able to have precision of movement down to microns. But the reality is in surgery, we still rely on sight and touch primarily. So what if we could merge the prowess of radiology with surgery and we think Molly can be that bridge. So Molly is soft tissue indicated. And we have already been approached by a number of physicians in various disciplines. We've been used in thoracic, colorectal, as well as some trauma cases with foreign bodies. Our current pipeline is focused on expanding these applications further. And we really do believe that the future of surgery is marrying the promise of radiology with the precision of, of, of minimally invasive surgery through Molli. So we have a strong path to profitability in 2024. And we're here at LSI to build relationships, and garner some strategic partners to help us accelerate our growth throughout North America and beyond. If any of the stories you found compelling, please contact Paul and myself while we're here. We'd love to share additional details and additional story. So thank you so much for your time.