Andrew Cameron Presents FeelTect at LSI USA '23

Transcription

Andrew Cameron  0:05  

Good afternoon, everyone. My name is Andrew Cameron. I'm the CEO of FeelTect and we're developing connected health technology for disruptive improvements to wound care. Our technology began in the BioInnovate program, where we spent 10 months looking for unmet clinical needs both in the Irish hospital systems, as well as in the Mayo Clinic in the USA. It was during our time in this program that we spent some weeks in the wound care centers, watching patients come in with terrible wounds on their leg. Some had been present for over 30 years traded but never healed. This is where we first witnessed the harsh reality of venous leg ulcers. These painful chronic wounds affect 11.5 million people globally each year. Over 50% of these offices don't heal within the recommended 12 weeks, and 30% don't heal within a year. This is despite the availability of a gold standard treatment. compression therapy. Compression is always the first line treatment for venous leg ulcers because it helps to overcome the underlying venous insufficiency restores the blood flow and heals the wound. In fact, studies have shown that if you increase the pressure during compression therapy, you see an almost linear increase in the healing rates. Unfortunately, in clinical practice, it's not as easy as that. Currently, there's about a 90% failure to achieve targeted pressure during clinical practice. If you apply it too loose, it's ineffective and too tight, it's dangerous. And even if you do apply it correctly, you can lose up to 50% of pressure within the first three days because of a reduction in swelling, and non compliance rates are up to about 80% in community settings. The average cost of trading a venous leg ulcer in the USA is $16,000 80% of which is related to the nurses time. And to give you some indication of how this relates to other areas of medicine. In the UK, the cost of treating venous leg ulcers to the NHS equates to as much as 40% of all cancers combined. What's more, the problem is growing in the last five years, the number of venous leg ulcers has doubled, and healing rates have actually decreased by 20%. There's a critical need for where to increase healing rates and reduce workload and venous leg ulcer treatment for reduced costs and improve patient outcomes. To address this need to protect a developing title right, the first connected our technology for measuring and monitoring the sub bandage pressure during compression therapy. Our point of care solution includes a wearable device that has a sensing arm that goes beneath the bandage and measures pressure at three physiologically relevant positions. This is then connected to an electronics clip which remains outside the bandage and transmits signals wirelessly to a mobile app. This enables the consistent provision of gold standard compression therapy, thereby reducing healing times. Supporting the point of care solution is the pioneering digital platform he'll assist including a cloud database and web based dashboard. He'll assist enables remote patient monitoring, as well as support and self management and data driven optimization of care, thereby reducing the burden on healthcare systems and also the nursing allocation resources. In terms of development, we've taken this through our design for manufacturing. And we're currently about to commercialize the point of care solution in quarter three of 2023. And the USA, also in 2023, will finish the digital platform for commercialization. And then in 2024. Using money that we've secured 1.4 million euros from the disruptive technology innovation fund, we're going to include additional sensor and user inputs to provide a more comprehensive picture of the wound treatment that's being received. Then, with enough data within that digital platform will apply predictive algorithms that are going to be used for the first evidence based clinical decision support system and we're in treatment. Our IP strategy is around protecting a leading position in the market. We're in treatment monitoring, with IP both on the hardware and the data transfer systems. We're already taking this into our first clinical validation with an NG is a study in the University Hospital goal way. Where we enabled experience we're in can nurses to have a six fold improvement in their ability to achieve targeted pressure in line with internationally recognized standards. We predict from existing literature this is going to have a 30% reduction in healing time, a 34% reduction in intervention frequency, and a 53% reduction in treatment costs as well as a significant benefit to the patient's quality of life. In terms of competitive competitors tolerate is superior to any existing pressure measurement technologies, such as inaccurate tension indicators, or impractical and expensive handheld devices, however, is this combination of tight right and heel assist that provides unparalleled capabilities for Remote Patient Management and data driven optimization of care. The market for tighter within the USA and Europe is about $2.4 billion just within venous leg ulcers alone. This doesn't include other indications that also use compression therapy such as lymphedema. Furthermore, the significant value to the data that we capture within that digital platform, as highlighted by the explosion in the market for health analytics and the steady growth in the market for digital wound monitoring. Our business model includes a combination of hardware and software products under existing reimbursement codes targeted at large integrated care organizations, a number of which we're already starting to do work with. For example, the American venous Forum has given us $85,000 To conduct a clinical study in the Veterans Health Administration Hospital in Gainesville, Florida. Our patients are high need high adoption venous leg ulcer patients, and we're already establishing a number of strategic partnerships for distribution channels into the market. By 2027, we predict over 25 million annual revenue with a net profit of approximately 40% and almost 40 employees. We raised our seed round in 2021. And with that, we went through design for manufacturing verification validation testing, a number of different usability functionality studies. We have FDA registration as a class one device, we've submitted our technology for C mark. And like I said, we already have funding from the American venous forum to do a 30 patient study in Florida. We're now raising $2.5 million to help us with the commercialization and quarter three of 2023 and also to conduct a pivotal clinical study in 2024. And this is going to be supplemented by that 1.4 million euros that we've already secured from the disruptive technology innovation fund. We expect that another 5 million euros required for series A which will help with scalable commercialization within Europe and the USA. And this is going to position us for an exit opportunity of approximately 150 million euros in 2027. The team I've got a background in tissue engineering and research commercialization. My colleague Darren has a background in tissue regeneration and has worked in quality and r&d roles in a number of different medtech companies. Professor Gary Duffy is professor of anatomy at NUI Galway, and I highly qualified extended team is helping us with the technology and regulatory requirements for this project. Our advisors include a panel of internationally recognized and respected key opinion leaders, but the clinical and commercial sectors were in kit. In summary, venous leg ulcers represent a large and growing market with an unsustainable burden on global healthcare systems. tighter and he'll assist represent the first connected health platform for measuring and monitoring compression therapy, providing reduced healing times as well as reduced treatment intervention and reduce nursing allocation. Our business model targets hardware and software products at large multi site integrated care organizations using existing reimbursement codes. We have designed freeze FDA registration, ISO 13, four, five accreditation, we have submitted our CE mark, we've got our first patient results and we're backing that up with studies that have been support supported by the American venous forum. And we have a number of different clinical and industry partners waiting for the technology. We're asking for $2.5 million. We've already secured about $1.4 million from local Irish medtech investors, and this is going to help with market entry and the pivotal clinical study. At FeelTect, we have an ambition to realize the full potential of compression therapy through safety, efficacy and empowerment. And we're very willing to help and talk to anyone willing to help us thank you