Brandon Bendes, Woven Orthopedic Technologies - Implant Enhancement System | LSI USA '24

Brandon Bendes  0:04  
Hello, everybody. Brandon Bendes, CEO of Woven Orthopedics. And I am extremely excited to be here talking to you today. Because we have a lot of momentum, a lot of progress. And I've hit a lot of milestones over the last few years. And this is the first time we are going to be communicating this publicly to all of you. So thank you for spending your time here. I hope this is as much fun for you to hear as it is for me to share with you. Curious show of hands how many people in the room know about augmented know what augmented is? Okay, so not many, that's good to know, what we've created is an augmented plant enhancement system. It is a sleeve that is designed to help surgeons easily perform fixation surgery in compromised fixation scenarios, the entire point. And to give you an example of what the impact of this technology is, I want to take you on a little bit of a ride with me, let's go back pre GPS, navigating to a new place that you have never been to before you're in your car, right? You're going a place you've never been what did you do? Well, you've probably had to grab one of these. Right? And you sat down and you charted your territory and you figured out what roads you were gonna take in order to get to your final destination. And inevitably, you probably wound up in a situation that sounded so or looked something like this buffet of your favorite music. Oh, boy, that was my exit. Oh, no, no, no, no, no, no, no, that was my exit. I miss my egg. You knew that feeling in your stomach. That feeling in the pit of your stomach you started to get nervous, your hands started to get sweaty, your heart started to beating faster and you knew you screwed up. And right then in there, you're our start eyes, start dieting, darting back and forth trying to find where's my exit plan? Where am I gonna go? How am I gonna go get off Am I gonna lose my job Am I get to be late to the meeting, what's gonna happen to me. And all of that in an instant. Doesn't matter because GPS came out. And it provided an easy, simple, reliable tool to overcome any challenge you had while trying to get to your final destination and bail you out when you made a big mistake. That is what our augmented implant enhancement system does for surgeons in fixation surgery. In fact, this is such a big problem that the Barrow Neurological Institute has created a spine symposium annually. And the one problem that they discuss in the symposium in three days is how to avoid less than optimal patient scenarios. Because this problem is so pervasive and trying to navigate fixation surgery and trying to get good fixation and compromise scenarios that people are now paying attention to this. So what we've done is we created the augment implant enhancement system, which I mentioned is a sleeve that helps surgeons quickly and easily achieve stable screw fixation and challenging scenarios because surgeons and spine surgeon and orthopedic surgeons have been doing spine surgery for century. And there are billions of screws that are implanted annually to help stabilize hardware and bone so bone can heal. But they are consistently faced with a different surgical scenario every time they go into a patient. And they're consistently faced with situations that make it hard to generate good fixation. So augment is always there so that surgeons are always prepared, much like your GPS is always there to help you navigate to your final destination. Now, I mentioned we're going to talk about three things today. And the three things fueling our progress. The first one is our regulatory position. I'm excited to tell you that as of today we have two regulatory clearances for our medium size Augment, and for our large size augment. And the reason this is important is because the total screw market for pedicle screws, ranges anywhere from three and a half millimeters in diameter, up to 12 millimeters in diameter. And our medium and large size allow us to take the entire portion of pedicle screw market. So when we go to market and we have and that's number two, we're able to provide a comprehensive portfolio that helps surgeons in all of their surgeries. Number two is our adoption curve. Now we followed a deliberate adoption curve in releasing our product moving from the East Coast to the West Coast. doing surgeries with surgeons and institutions that see compromise fix error fixation scenarios. Often, so that we can perfect both our support and the technique in order to ensure that all surgeons as we roll this out, achieve optimal outcomes. Now we've done surgeries with surgeons at some of the biggest institutions in the country moving from east to west, including Hospital for Special Surgery, Johns Hopkins, Paley Institute, Rush University Mayo Clinic, among a few. And so far in surgeries that we've seen, we've had a broad range of patients spectrum. So we've had ages from adolescent all the way up to elderly. We've had all different conditions degenerative, deformity, tumor and trauma. And our split is actually 60%. So far in primary surgeries, and 40% in revisions, so nice balance. And number three, the third thing fueling our growth surgeon endorsement. At the end of last year, we received the 2023 spine technology of the Year Award for orthopedics this week, why is that important to us, because the panel that issues that award is made up of independent surgeons that show they're your prospective users. So that shows their confidence in us. In addition, we've had surgeons publicly endorse our product, both online and at conventions without any affiliation to us and unsolicited, this shows the confidence on our product to be able to deliver the results that they are looking for and that they need. Some have even gone so far to publish case studies independent of us showing how augment has helped them in surgical scenarios. This one right here was published in MDPI. And it shows augmented a trauma situation spinal trauma. Overall, it actually feels like we're on a bit of a rocket ship. We have great regulatory clearances, a strong and fast adoption curve, and surgeon confidence and endorsement publicly. Now, we don't have an investment opportunity available just yet. But given the pace that we're growing, we may come up with something in the future. So I encourage everybody to stay tuned. Hopefully I'll have some more exciting news to share with all of you and an upcoming event. Thank you