Andreas Mollatt Presents Otivio at LSI Europe '23

Transcription

Andreas Mollatt  0:05  
We have to see we have a low tech but high efficacy device for home use. Good afternoon, I'm Andreas Mollatt, COO at Otivio. FlowOx is using intermittent negative pressure both to stimulate blood flow, but also to initiate reflexes in the skin and in the body. So it's a new low risk method to treat some of the most frequent chronic diseases being peripheral artery disease but now also actually symptoms of multiple sclerosis in a home care setting. I think I can put it better than the professor who conducted our pilot study at Norwegian central excellence for Neuro research. And his saying that Otivio, our device which you see on the screen here represents a new low risk method that treat symptoms, which in this case is specificity and pain in MS symptoms. Which has very negative impact on functional quality of life for many MS patients. Flow ox this new generation of patient centric home treatment technologies for chronic diseases that is in high demand for healthcare systems. This they were all talking about home treatment hospitals home, but it needs to be supplemented with also actual technologies that can be used at home. So we have about 15 Publications when it comes to improvement of blood flow. So for this vascular indications we have not been commercialized, we have presence in more than 20 countries. And we have sort of achieved our first big milestone by getting reimbursement in our beach markets and we expect more countries to follow. They also have to date quite very strong evidence on the treatment of the symptoms or multiple sclerosis most more specifically spasticity. So, with these two verticals, we see a total potential market of 400 to 800 million euro at peak. So the device consists of two two main parts the control unit that creates intermittent negative pulses to the boost or the pressure chamber that is applied to the leg, which then increase leads to increase blood flow of the lamps. So this is what is needed to treat peripheral artery disease, which is associated with pain, chronic wounds and amputation. But it also by accident, we have discovered that it triggers neurological effect. We don't know the mechanism of action action yet, but we are working towards it. But this these effects leads to changes in reflexes and specific specificity in these patients with neuro degenerative diseases, not just on the leg, but actually systemically. So what we have observed through this pilot is that reflexes in the arms in the intercostal muscles, even in the blog function changes when you think flow works. So multiple sclerosis, as most of you are aware is incurable, and progressive progressive neurological disorder. And it's sort of devastating and life altering to the patients, which it's primarily women 343 quarters are women, and the average age of diagnosis 36 years, the prevalence is 2.9 million, it's actually been growing by 26%. Since 2014. On the prevalence is found first and foremost in the northern hemisphere, North America and North Europe. There is currently as mostly a no cure for for multiple sclerosis, there is a lot of focus on on the CCE modifying drugs. And in addition, symptoms management is also used. spasticity which is our prime target affects about 80% of all MS patients. This specificity leads to muscle cramping stiffness, and various complications such as the bladder function. So, treatment of spasticity is sort of a filler Got the medication is solid is dated. And it's often associated with quite substantial side effects that outweighs the sort of day effect or the treatment. And the consequence is that about 1/3 of MS patients live with this abling spasticity. In 2019, we did a very remarkable discovery with the patient that from one day to another, it was sort of where all her cramping specificity was elevated and we couldn't really figured out why this was the reason but since then, we have gone through several phases of development and clinical documentation. First, single patients then we did the pilot which we did, Novation Center of Excellence excellence in Bergen, Norway, leading up to this pivotal multicenter trial that we are just approaching the MO. So, the top line results will be available towards the end of the year. And this study is conducted at the leading clinic clinics in Scandinavia at the Karolinska Stockholm at the National Hospital in Copenhagen, neurosis Smith, which is this central excellence in Norway. works or freeze is a clinically proven non invasive, simple to use home treatment device that is dressing a medical need that is highly sought for by patients. The total addressable market is estimated to be between three and $6 billion. We intend to launch FlowOx our product in the MS market in Denmark in first quarter next year. We have also conducted studies or research that showed that 20 to 40% of the patients with specificity are willing to pay out to the pocket support part of the total price. And this is this is why we are launching it on the auto pop out of the pocket in combination with real world evidence data gathering. So we are generating revenue while building documentation for health economic documentation to obtain reimbursement in the next stage. As mentioned we are shoulder we believe that our estimated peak annual revenue projection is up to 800 million euros assuming that device obtains reimbursement but even if it doesn't, if it's all out of pocket were estimated peak revenue to be approximately 125 million euro per year. We actually just finalized a capital race last week. But we're still preparing an additional 10 million which would be a series a financing is second quarter next year that will then be off to be rich, quite important milestones and the funding will be very focused on expanding the MS market as well as establishing a strategy for the US. Management behind Otivio is fairly seasoned from with experience from tech pharma and consumer healthcare. So if you if you want to talk more, please meet me here at the conference later on. Thank you