Video Transcription
Christina Vallgren 00:02
Good morning, everyone. My name is Christina Vallgren. I'm the CEO and the co-founder of Terapet, so I'm here today to kick off our Series B fundraising. Terapet is a Geneva-based spin-off, and we have developed a next-generation nuclear imaging technology that will have a huge impact on radiotherapy and the nuclear imaging field. By investing in us, you will be contributing to the fight against cancer. See what you treat and treat what you see. We are a team of experienced business people, field experts, and well-known researchers from the most prestigious research institutes. On our board, we have successful serial entrepreneurs who have made successful IPOs, exits, and brought their own startups from seven people to 300 people across the world, so we are confident we can bring our company to the next level.
Terapet is a company that developed a platform technology, and I’m here to talk about nuclear medicine imaging because this is our highest priority and has the greatest potential at our company right now. Positron emission tomography (PET) is the most important imaging tool in hospitals today for oncology, neurology, and cardiology. We use it to detect cancer inside the body, identify, and diagnose brain and cardiovascular diseases. It's also extremely important for new drug development. Today, the market is growing fast, with a value of 2 billion per year and a growth rate of 5%. The main customers are major hospitals around the world.
Although PET scanners are extremely important, their design has remained the same since their origin in the 1970s, and they suffer from many limitations. First of all, we have limited resolution and low sensitivity. Most of the signals are lost when a patient undergoes a PET scan. Because of this, the patient has to stay in the scanner for up to an hour, which also means a lot of radiation exposure to the patients. It’s not feasible for all hospitals to acquire a scanner, as they can cost up to 5 million dollars to buy a single device.
The nuclear scan developed by Terapet, based on our platform technology, is a new type of PET scanner that will eliminate all these limitations. We have sub-millimeter resolution, high sensitivity, and, most importantly, a low cost of goods. The nuclear scan is a next-generation PET scanner for the whole body that is faster and more cost-efficient. To summarize, high resolution, high sensitivity, and low cost of goods have the potential to replace all PET scanners around the world.
The value propositions we create with our PET scanners cannot be overstated. For the PET manufacturers, high performance and low cost of goods can keep them competitive among their own field competitors. For the patients, quicker PET scanning, lower radiation doses, and accurate diagnostics are extremely crucial. Last but not least, for hospitals and society, quicker PET scans mean that many more patients can be scanned per day, which is a significant advantage compared to the state-of-the-art commercial PET scanners. Our scanners have both technological and business advantages; high performance does not affect the cost to build, and we can even make it five times lower compared to conventional PET manufacturers.
What is important, in fact, is not only the PET scanner itself. There are a lot of interesting things happening right now in the personalized precision medicine field. Today, we have theranostics treatment, precision medicine, cell therapy, and immunotherapy. What is common is that all these technologies rely on high-performance and high-capacity PET scanning with our device. Our vision is that Terapet will one day become a key player in personalized precision medicine in the future.
What I have described here is only a part of our company's vision. Our core technology, the innovative nuclear imaging detection systems, is protected by 45 granted patents in four patent families, 100% owned by the company. Our first product, Quality Scan, based on the same core technologies, is already in the commercialization phase. Today, we have two installations across the world. Our vision is that our products, Quality Scan and Nuclear Scan, will fundamentally change the way cancer is diagnosed and treated. All invested capital has been used efficiently to meet all our milestones. In 2023 and 2024, we managed to raise 9.5 million US dollars in total. I’m here to kick off our Series B of 18 million, hopefully to be completed by the end of next year. Our goal is to complete our first one-meter PET scanners to be installed at our partners and to get FDA approval.
Before finishing, I'd like to share with you some recent achievements that we have made, mainly on our first product, Quality Scan. It’s a dedicated scanner for proton therapy. After successful clinical testing, we have gained a lot of potential customers and strong market traction. The clinical data has been shown by our partners at the biggest particle therapy congress in Singapore this year. With all the sales and marketing efforts, we have made solid market traction and gained many potential customers, as well as making a strong market entrance.
So why Terapet? I think it's a great opportunity for investors looking for purpose and believing in precision medicine for every patient in the future, as well as looking for solid, tangible deliverables with minimum technical risk. If you are looking for investment in this range, I’m here today and also tomorrow, and I’m happy to speak with you. Finally, on behalf of our multidisciplinary Terapet team, I would like to thank you all for your attention and for investing in us, investing in next-generation nuclear imaging. See what you treat and treat what you see. Thank you. Applause.
