Dasi Simulations | Teri Sirset, CEO

(Transcription)

Teri Sirset  0:01  

Good afternoon. Imagine a world where physicians would have the foresight to be able to predict events and outcomes before actual surgical procedures. Crazy concept, right? My name is Terry Sirset I'm the CEO and founder of Dasi Simulations, a SaaS based medical software company positioned right at the intersection of healthcare and technology. By utilizing artificial intelligence and computer vision, dusty simulations is committed to lifelong planning and complication reduction for patients of heart valve disease. But before I talk to you about the technology, and how we think it's going to revolutionize pre planning for structural heart care, I think it's important to understand a little bit about the story, the founder story. So I have with me in the audience, Dr. Darcy. And by pure coincidence, Dr. Darcy and I met back in 2018. He was a professor in the biomedical engineering department at The Ohio State University. And I'm the biggest Buckeye fan that ever walked the face of the earth. So there was an immediate connection right there. And the reason I'm a Buckeye fan is because of my dad, my dad went to Ohio State, but my dad also died of complications from heart valve disease. So I don't know what was going to happen. But I just knew that there was something really special between the two of us. And so we formed Dasi Simulations in December of 2019, right before the pandemic. So by way of zoom ,death by zoom actually preceded my formed the structure and the foundation of Dasi. And for that first year, we worked tirelessly to build that foundation in that infrastructure. And in the second year, we were so fortunate to be able to convince people like Sean and Kent, and Rich to come on board as our executive leadership team, bringing to us hospital C suite education and experience new business development, new technologies, sales, and we formed an amazing executive team. All the while adding to our simulation engineering team with a bunch of great students from Ohio State University, UCSD, who work tirelessly to provide great patient care. So let me give you a little snapshot of what this small but really mighty team has been able to accomplish in just the last 10 months. This market for simulation is very, very large. But if you skinny it down, and you just look at the valve simulation market itself, the TAM is $4.2 billion. And because we're a first mover opportunity here in the United States, we feel very certain that our addressable market will be close to 125 million in the next three years. We are a SaaS based model, which everybody loves. We're highly scalable, and we have margins north of 90%. We are utilizing artificial intelligence and machine learning and we're surrounding ourselves with patents for those. We have six filed patents. And just last week, we got Notice of Allowance for one of our patents was which was really exciting for the team. We also have an immediate market entry with a defined regulatory and reimbursement pathway. And we we have been privy to and approved but we have been lucky to receive non dilutive grant funding in the amount of $415,000, just within the year, just within this last year. But the most important bullet point on this screen that I want to share with you is the fact that we are revenue generating in just the last 10 months. And that's really exciting with customers like Baylor Scott White, the Ohio State University and Piedmont Heart. So what's the problem with this, the problem is that we've heard a lot of technology in the last couple of days, a lot of advancements in the technology, and the new structural heart technology is way outpacing the surgical planning. And so right now the planning for surgical procedure for structural heart surgical procedures is really old and antiquated. You take a patient's 2D CAT scan, it gets measured, the Heart team reviews it, this is subjective, often relying on physician experience. It's highly manual, and really time consuming. Also, it's it's unable to predict any risks involved. And so that leads to increased costs, increased cost of complications and increased cost to the hospital. And then repeat interventions and center rating and reputation is poor. And then the biggest thing that I want to stress is there's no lifelong planning able to be involved in just a 2d image. On this screen, what you see is status quo versus the DASIE technology. The top black and white is a 2d image of a patient's CAT scan. On the right of that are the last few beats of a patient's heart because that physician when they went into that procedure, could not tell that this patient was at risk for a root rupture. If that patient would have had the ability or the physician would have had the job ability to be able to run that patient's CAT scan through the Dasi Technology, he or she would have found out that we could have predicted that route rupture. By the right on the right, you'll see the yellow poking out that would have given the physician an indication that this patient was at risk for a rate rupture. And in that moment, they would have been able to change course, they could have chosen different valve, they could have done a different placement, they might have even sent this patient to surgery, the outcome would have been far different. So how do we do it? We take that very same CAT scan, we upload it, the physician and the staff will upload it to the Dasi portal. Our team of engineers will take it from the dusty portal and run it through computerized simulations in the cloud, where the data will be aggregated run through our QA QM, our engineers will look at it, generate the report, put it back into the portal so that the physicians and the heart team have a really nice package of information that they're able to make really sound decisions. This heart team then has the ability to put that patient at the center of the ecosystem. The cardiothoracic surgeons, interventional cardiologists, and interventional radiologists will then be able to meet in that very same heart team, but have a lot more information to go on data driven information that solid and sound. So I mentioned earlier about our revenue generation and our customers. This is our Medical Advisory Board, Representative Piedmont heart, Baylor Scott and White Ohio State University, Franciscan health. And I love this slide because not only is this our medical advisory board, but these physicians believe in the technology so much so that they've gone to their administration to get the technology paid for because they think that this needs to become the standard of care. So where are we at with the company we just closed as matter of fact, it went public today, our seed round of $1.75 million. We are going to use this money to continue to build the incredible team to be able to define more additional regulatory pathways for additional product lines. And to surround ourselves with our patents. We are looking to open up a $10 million seed round towards the end of q2 beginning of q3 to continue the growth of the company to continue to hire wonderful team members that will see the vision and be able to get this information in this technology into the hands of every physician possible. And I think one of the coolest things about this technology is it's not just for structural heart, we chose TAVR because Teva is growing at a CAGR at a growth rate of 25% year over year. But beyond TAVR there's the mitral market, the tricuspid market and even beyond structural heart, pediatric congenital abnormalities, neuro Vascular and Endovascular and so we feel that the Dasi Simulation technology will become the new era and not only structural heart planning, but possibly surgical planning in and of itself. Thank you