Douglas Fairbanks Presents Advanced Scanners at LSI USA '23

Transcription

Douglas Fairbanks  0:05  

Hello, thank you all for sticking around and joining us today, I'm excited to introduce you to Advanced Scanners. As was mentioned, Advanced Scanners, the deep tech optical scanning company to create solutions for surgical robotics, navigation AR VR platforms. Here's the disclaimer. So I'd like to start with an analogy, right. So when we think back to the 19, mid 1970s, the mid 1980s, computing was exploding, right. And I did my best to gather all the names of the companies that I could find. Now, the truth of the matter is, is that all the names on the screen don't end up being winners, right? A lot of them end up going out of business. And you think about what they gave us. Was this, right? That blinking command prompt, and for many of you, that doesn't realize all the benefits and promise of computing, right? So we think about it, when I say well, really what we wanted was something like this, a graphic user interface that allowed us to use the computer in a way that was responsive to the user. And a couple companies did this apple with Lisa, and IBM with Microsoft. Right? They gave us this graphic user interface that improved the way that we interacted with computers. And they were rewarded for it right now apples were $2 trillion. And Microsoft is 1.7. So if you think about it, it's a pretty good analogy to what's going on today. We might be experiencing the greatest adoption of technology in the history of medicine. Here's a list of some of the robotics companies that are out in market today. Now the last time I counted, there was nearly 150 that were either FDA cleared or about to be. And we think about it, what is the experience that we have in robotics today and the excitement that circulates what happens in navigation and AR VR solutions? And we also think about what is the demand. And this Bain and Company recent report turned out that, hey, a neurosurgeon and orthopedic surgeons there is about an 80 to 90% interest rate interest in using these systems. But the adoption rates were much lower somewhere in the 50s. And say, Where's the disconnect there? There's lots of interest in using the technology. But the adoption is very low. Well, let's look at one use case in orthopaedics, right in order to use a surgical robotic system, you can upload an image into the computer, the computer uses an infrared camera to talk to some bone arrays, they're screwed into the patient. A wand is rubbed over the patient's tissue to create an inferred relationship that degrades over time. Right. And if we think about that, from the experience standpoint, I think that's a pretty poor experience, not just for the patient, but also for the doctor. My dad recently had his knee replacement done, and he got a robotic knee. And he said, Doug, what kind of surgeon did you send me to? He operated on my thigh and he operated on my ankle. He couldn't find my knee. And we chuckled. And I said, Well, that's because the computer has to use these arrays that used to talk to a camera, and we got into a long conversation. And you instantly realize, hey, that rigamarole is terrible. It's a terrible experience for surgeon and that surgical surgical time. But it's also bad for the patient who has extra holes in their body. Right. And when we think about this is not isolated orthopedics and brain surgery have a very common phenomenon called Brain shift. When we do a craniotomy, we essentially contract where the brain where the skull is, but we're operating on the brain. And it works like jello, it floats and moves during the procedure. And actually knowing what part of the brain you're operating or operating on is critically important. As we think about spine as you move down the vertebral bodies, any movement as soon as you touch the next segment, changes its position in space. And so you can solve this by raising the patient and doing spins in the OR. But when it'd be better to have a better solution, right? So we've thought about this pretty deeply in advanced scanners, and thought about how do we make this experience better? How do we improve these technologies so they're easier to use, and so that they see the same patient the anatomy the same way the surgeon does? We think about the way we think about the literature is well supported here that there's there's issues with pin sight fractures, the issues with brain shift. There's, there's issues with infection. And in fact, the FDA has issued a warning that the use of these tools may result in injury, death, prolong procedures, or failed or aborted cases. That's a pretty serious warning. So here we are in Advanced Scanners. What we develop is an optical computer vision system, we can see the tissue in a new way. And we feed data into the into these robotic systems in a way that's novel for the environment. So we can see where the tissue moves, we can pay attention to what the behaviors or the tissue are, during the procedure, we can look at removing some of these bone arrays and pins that happened during the procedure. And we can look at improving that experience. But we think about orthopedics in a fraction of a second, we can grab a million data points, we can tell you size, shape, position, color, and potentially a little bit more data about the tissue that you're operating on. Here's the distal femur, we think about in spine, we have a large layer of adipose tissue in this pig that we operated on in the office, we grabbed the side of the lamina optically, and we can register this preoperative image to it. This happens very quick. In the brain, as we think about brain surgeries in the margins around tumors, or the brain shift, as you think about where you're placing your BCI lead your brain computer interface lead, it's really important to get that right. Here's a cadaver brain that we scanned. You look at over time, we can actually tell you where the movement happened, what the shift happened. Where did that brain float or move during the procedure. And this is really important information. You know, imagine you're working in brain surgery and wanting to know where the behaviors are. So as a company, what we've done is we've developed a novel concept for doing this. It's a new way of approaching computer vision. And we've protected it. Right, we're petting it, we're patented out to 2038, we've gone, we've gone out and made sure that we're secured around the world, so that we were protected as we enter the market. We get really excited about the capabilities here. When you think about it, the industry standard is this idea of trace, you essentially take a probe and you wipe it over the tissue now the same surgeon could do that procedure five different times and get five different answers. It's not exactly the experience that you want, as a patient here, again, as fast as you can go will get a million data points. And it's objective, right? It knows where the tissue is, it sees the tissue in the same way that your eyes do. Right? When we think about this, we think about experience, we think about the tools that we're working with. And we think about surgeons. Now I don't know if there's many surgeons in this room. But we've spent a lot of time talking to surgeons. And two things that are always front of mind are speed and accuracy. Right the pressures on the economic environment in the hospital means that we have to do more procedures. But also, it's good not to have a patient under anesthesia for a prolonged period. And so that's what we started producing a solution that allows you to go faster, and is easier to use in your war. We're right now seeking $8 million a round, we have a commitment bleed for 5 million of it. We're actively negotiating contracts with strategic companies in the in the industry. And we're really excited about our trajectory. I'll tell you that our products continue to evolve, although we have some that are ready to be productized right away, that we get in an influx of interest in different capabilities. And we're actively pursuing those. Right now we have a business model, that dress is a $1.3 billion beachhead market with 11 million procedures. We look at our revenue streams coming from the hardware, the software and the disposables. That disposal is not actually a very small piece of this in the grand scheme of things, you know, with the use of this device, you eliminate a lot of costs Allah procedure, and by putting back just a little bit, you get this great experience. And that's not insignificant, you know, one orthopedic company does 20,000 procedures with their device a month, you can imagine that we pull $100 out of that procedure. Now you're looking at something like a $2.8 million a month revenue stream just in disposables alone. I want to end with a couple thoughts here. You know, this is an incredible technology. But like most things, it couldn't be. It couldn't happen without an incredible team of really dedicated and intelligent and hardworking people all pointed in the same direction. So I never lose an opportunity to thank my team, although they're not here for the great work that they committed to it. You know, the the many PhDs and optical physics physicists and algorithmic developers that are on the team that spend hours thinking deeply about how to solve a problem that affects a lot of patients is really something special for me, and I hope I can share that with you. Again, my name is Doug Fairbanks, this Advanced Scanners we're attempting to make surgery better in robotics, navigation, AR VR platforms. It was a pleasure chatting with you. I'll be around if you have any questions. Thank you very much.