Atlantic Therapeutics | Susan Trent, CEO

Susan Trent  0:03  

Good morning. So I think that I'm bringing to a close an array of absolutely fantastic medical technology. This conference is called Emerging med tech. What I want to talk about today is some med tech that really has emerged. And as I've said, what we've been doing with Atlantic therapeutics in the last couple of years is scaling a FEM tech brand, which obviously is a subject that's incredibly important to me, and to the rest of the team. I call in this presentation "From Dream To Reality" for a couple of reasons. When I joined Atlantic therapeutics in November of 2019, our amazing brand and Innovo didn't exist, it wasn't in the marketplace. But we had taken some concepts to consumers to women who were suffering from bladder leaks, the one in three women worldwide who suffer from bladder leaks, we took it to some of those women. And I remember one of them saying, this is a solution to this problem that I couldn't have even dreamt existed. So we've been delighted to bring this solution to women, I want to explain to a little bit about how that's happened. The best way to explain is how we're explaining it to consumers. So we'll start there.

12 weeks ago, bladder leaks would have held me back, living without pads, liners and leak proof underwear was just a dream. But now, and Innovo eliminates bladder leaks in just 12 weeks, and ovo stops leaks at the source by strengthening your pelvic floor, it delivers 180 Perfect key goals in just 30 minutes. So leaks don't stand a chance in just 12 weeks or less 87% of women were leak free. Now we can do what we love without worrying, even this eliminate leaks in 12 weeks get started at myinnovo.com.

So what we've managed to bring here is a real marriage of very, very clever technology, others delivering a really significant reduction in bladder leaks through strengthening the pelvic floor. But we bring in in a way that is incredibly relatable to women. And we'll talk a bit about that. And I think this is applicable, whether your particular device or treatment or intervention requires a healthcare professional intervention is on prescription, or like our innovo is not as available without a prescription, really important to understand what compels a patient to come forward for treatment. So first of all, it is totally non invasive. So a woman is engaging the treatment here that she can wear at home, she doesn't have to go to a healthcare professional, she can sort of wear on the couch while she's watching TV with her family. It has very unique technology that really is delivering the solution, we had to do a full randomized controlled trial 180 patients, this was a de novo device that was submitted to the FDA. So really strong science that lies behind this. But a way that can give the end user some really believable, compelling claims. After 12 weeks, 87% of women are free of those bladder leaks. So marrying that compelling science with a compelling consumer proposition. Now I feel qualified to say that we have brought this to a reality, because of the way that this brand has really taken off. I think we've just got that that magic formula, right. As you can see, I'm being a bit coy about the scale on this. But suffice to say, with our latest projection going forward, these last few months of results, we're at a kind of an eight figure revenue run right now. So we've really started to crack the code of how to bring this proposition to life. As you can imagine, because this is a consumer brand, it's a very different business model. This is an entirely ecommerce model, a patient doesn't need to go to a doctor for a prescription. So what we're really investing in more than resource and overhead is marketing investment. And what we're also pleased to see is that we're seeing an increasingly efficient acquisition cost. So as we build our volumes, we get more efficient about our marketing programs are actually finding a way to our path to profitability on the brand as well. So as a little bit of a case study, just a summary of why this particular model has been so successful for us and hopefully some some learnings for for everybody as well. Obviously, the most important thing is that when it's a direct to consumer brand, it's a very so self diagnosable condition. There is a huge unmet need, as I said, one in three women worldwide suffering from bladder leaks, we are thrilled that we're tapping into a change in terms of the way things people are thinking about women's health, some of the things like menopause, postpartum care, that just meets exactly with the mission, we have to break the taboos around bladder leaks. We talked about how differentiated in youth and unique the technology is, and then we'll talk a little bit about the go to market model. So first of all, speaking in women's language, you know, doctors call it SUI, we talk about incontinence. We all know that because women hadn't known there was a solution, all they've got to defend themselves against bladder leaks is pads and a kind of wry sense of humor. So Joan Lunden, I mentioned many of the Americans in the audience will know Joan Lunden and incredible spokesperson advocate for women's health, the anchor of Good Morning America for many years. She wrote this book about process of aging trying to break down to booze. And one of the chapters is called sometimes I love so much tears run down my legs. And I think women really identify with all we all we can do is kind of, you know, joke a bit about it because we don't know what to do. So our ability to speak in our consumers language to understand what they're going through. And for them to see themselves in the way we're talking about this is really important. And it is a huge unmet need is more than three women worldwide suffering, we can't get to all of them, of course, but we do know, when we're up against a category of pads and liners and leakproof underwear that is around $10 billion a year, a very small market penetration yields a very, very high revenue.

And I mentioned those trends, there is an increasing focus on women's health, which we're all absolutely delighted about. And we're seeing governments and policymakers and healthcare professionals really bear down on some of these issues around women's health. The taboos are breaking, it's taking time, but we are seeing that happen. Now we want to be very much at the forefront of that conversation, and digital health, self care at home health, everybody who's talked about some of their technology and recognizes that trend going forward. And we can capitalize on that. And particularly because our next generation device has just been submitted to the FDA, I am absolutely delighted to say this one is a 510 K a lot more straightforward, basically demonstrating equivalency to our existing device. And what this now brings is an app based solution. So not only are we delivering this incredibly effective technology, through the NMES, the the neuromuscular electrical stimulation, we now have this opportunity through the app to bring the behavioral support that we all know is so important, that helps to improve compliance in any kind of treatment regimen. Go to Market is really important. And I think that we have to really follow the system that makes most sense to the end user. In the US we've proven and we're absolutely convinced that women are prepared to pay for themselves for a device like this, that they see in some way as a bit of a an exercise intervention or wearable technology less so that an actual medical treatment, which is a bit more scary. So we've gone with an E commerce model, we're selling direct to our consumers, we have a direct relationship with our consumers, we know exactly who they are and what they look like. And we can find more and more and more. So that model from a commercial point of view is really working well with us. Having said that we do you have reimbursement through Medicare. So we do have those opportunities to open up. But right now this is giving us this great commercial traction, helping us bring build the brand. A different story in Europe where there is much more focused on postpartum rehabilitation for the pelvic floor, there was much more of an an acceptance or a need for patients to get their treatments through their healthcare professional. We already have businesses in France and Germany. And I'm thrilled to say that the National Institute of clinical excellence in the UK have now evaluated Innovo for use in the NHS. So when we will be able to get there Innovo on prescription in the UK later this year. As everybody has said, the most important thing is the team that is able to execute this plan. And we have a great blend now of people who have been in our business Atlantic therapeutics for a number of years, and we've brought in new talent. In fact, Rob Cartwright, our CFO joined us on Wednesday of this week. So he's got a fun amount of activity to get involved in now, particularly as we're out there, fundraising. We know this model works, we know exactly what we want to do. We've got new innovation coming to market. And so we're raising another 25 million euros now to basically put fuel on the fire of this reality that we're working with now. So if anybody would like to join us on the journey, we're raising our Series C now, and I will be in the breakout room afterwards to talk to you. Thank you very much.