Dr. Adarsh M. Patil Presents OUI Medical at LSI USA '23

Transcription

Dr. Adarsh M. Patil  0:05  

Good afternoon, and I thank LSI for providing this opportunity. And thank you all for being here and thank you for your time and attention. I'm introducing OUI Medical to transform endoscopy while endoscopes are used to peek inside of body cavities, and Dr. Anton invented them in 1853. Within this century, they have transformed medical science. Approximately 250 million procedures are being performed every year across the globe. And there are 10 major types of scopes. For example, a coolness go for a colon, sisters go for a bladder. We are on a mission to develop a scope for abdominal cavity, we have a vision to make endoscopy accessible and safe. The problem being presently surgery is required to peek inside the abdominal in the form of a diagnostic laparoscopy or a diagnostic laparotomy. Which means we have to admit the patient to the hospital, shift him to the operation theater and perform a surgery which is painful, inconvenient and may cost up to $50,000 for the patients. We have come up with world's first scope to peek inside the abdomen using local anesthesia. It has an optical optical port to introduce the scope inside safely a balloon to insulate atmospheric air to make some space inside and a screen to see inside. It is battery operated. It is portable, single use and it is cost effective. solid solution is an ambulatory procedure which means patient can walk in, get this procedure done and walk out of the hospital on the same day. It is performed under local anesthesia and it is painless, convenient, and costs only $6,000. We believe this device will bring in a paradigm shift in how intra abdominal conditions are treated presently. And it has multiple compelling applications in cancer care, women's health, emergency care, perioperative care, and it has some exciting future future applications. We have a disruptive technology. Presently, there are reusable scopes and disposable scopes. The reusable scopes have high upfront cost of $60,000. And they require maintenance, they're bulky cannot be moved around the hospital easily. They require sterilization, which means high turnaround time and also possibility of cross infections and this market is growing at 8%. Then there are disposable scopes. In this only the tip is disk disposable, whereas the screen is reused. And they cost approximately $20,000. And the tip costs $2,000 each for each procedure and they have maintenance. It is portable. They reduce cross infection and this market is growing at 16% annually. We want to create a new niche of single use scopes and they cost $2,000. They're portable, portable, they eliminate any cross infection and we expect a high adoption rate for these scopes. The market size being the total market size for endoscopy globally is $40 billion. And there are approximately 10 different types of scopes and a market size for a single scope. Single speciality scope like a colon colonoscopy is approximately $4 billion. And the market size for single speciality scope in us is approximately $500 million. And this market is growing at 8%. The competitive landscape being it's a de novo application, there is no alternative for this device. We have a patent for this device we have applied for a PCT application, and we have received a very good PCT report and we have proprietary technology. The opportunity being for a single organ like coal on approximately 60 million colonoscopies are being performed every year. Abdominal has 10 major organs. We have been multiple compelling applications and we expect to generate half a million procedures sell each device at $2,000 and generate a billion dollar revenue in next five years. We are asking for an investment of $7 million to take our product to Series A. We we have completed the device development. We have completed our categoric studies, and we have institutional review board clearance and we are one step closer to our clinical studies. We intend to generate data and submitted to FDA through their breakthrough device pathway, which should significantly reduce our time duration to the market. And we expect to get a 510 K clearance and a new CPT code by quarter eight. We intend to simultaneously apply for regulatory approval in EU and Asia as well. We have a go to market and exist strategy. There are approximately 20 large OEMs in the market, some mid cap and some large cap like Olympus Ambu, Stroz, Boston Scientific etc. We intend to partner with them, leverage their global marketing and distribution and get to the market quickly. We intend to launch new products leveraging our disruptive technology. We have partnered with OmniVision OmniVision is a global leader in digital imaging. And they supply us with medical grade, FDA approved disposable cameras. We have partnered with Raj tech for product development and contract manufacturing. We are graduates of 2022 cohort from health wildcatters a leading med tech accelerator. I am Dr. Audition. Patil. I'm a surgeon, a minimal access surgeon with 15 years of experience with scopes. I'm a medical entrepreneur and inventor of the scope. My co founder Rishikesh is an engineer with 30 years of medtech experience and product development and regulatory landscape. We intend to bring in a paradigm shift in endoscopy. We look forward for the support. Thank you