Ergosuture | Claude Nogard, CEO & Co-Founder

(Transcription)

Claude Nogard  0:02  

Hi, good morning. So my name is Claude Nogara and the CEO of Ergosuture. Before starting, I'd like to give a shout out to Scott and his team. We were there last year, and we all face COVID. But when I came here to raise funds and five project partners, what I was not expecting, you will find other startups that add product that would complement what we do. So for example, yesterday, we met with Innovus, a company that is moving the simulation training into 21st century. And then is the solution that we have been looking for to show investors and partners that our product is tremendously better than anything else. And here it is. So why are we here today, Ergosuture was founded in one principle, we are falling short of 143 million surgeries every year. And the main reason behind access is a lack of surgeons. And our key Philadelphia target future is to develop technologies that will enable surgeon to do more with less, do it easier, better, faster, but also enable neurosurgeons to do a similar job. So we are focusing right now into a market which is, you know, wound closure device, we'll be launching initially into the laparoscopic market, which is quite unfulfilled, and eventually launch into what we call, you know, highest throughput bucket, which is EMTs, you know, medical field, hospitals and offices. Okay, so why are we will look at an apocalyptic shortage very, very simple. It was transformational when it came out years ago. Unfortunately, this technology has basically slowly left out because it's very difficult to suture and devices that have been developed, so two years ago have been involved. Studies, for example, have shown that 56% of fellows cannot secure steel. So we have developed technologies, the robot, for example, all the understitch all of them came with, you know, tremendous benefit, but also tremendous complexity, from cost to training, and so on and so forth. So the key objective, and we have done market research was to find a solution that surgeons are always asking for, which is better, you're gonna make faster learning curve, and easier to manipulate. So here are our solution, you have it all, which is a first order based suturing system, which is a 510 K device, a classroom. That is with clustering system, it will cater initially general surgery, urology and gynecology. So this is the model you see here in our first integration with mechanical, we built it this way, because we wanted to be familiar. And that's something we've done research on, for example, you will see though this talent is not wasted. So many people don't think about but studies have shown that novices learning to suture with with instrument tend to block the vision field. So it's creating, you know, areas that is busy translating into longer training time, we also have been the system that is straightforward for surgeons, they can use it as a normal driver. So if you don't activate the orders, you can actually leverage your learning experience your muscle memory. But if you use dollars, then you realize that you can do things you can't even do is a robot, which is a property drug dealer in the UK, without to tissues to the safety component. There is a speed component, but there is also ease of mind component for the surgeon. And so what we have right now is a platform this primary targeting laparoscopic surgery, bariatric. And contrary to many companies, we are not improving the product for the experts. We're actually working with non experts, our objective is to raise the proficiency level across hospitals. And that's the key here. But not technology can be used in robotic, and also in BCD open surgery. So it's the first time providing surgeons hospitals, one technology, one string technique that you can use across all platforms. And so this is very much, you know, solution whereby, but now our solution was not optimal for experts. So we started working with them and found out that needle we have not optimized to be bold. And then we came up with a new solution, which is the next door. And if you want to look at it, I invite you to go across the board across the world to see our boss, this new system, the first new needle in 50 years. It's basically you know, and I believe between the heart single needle in a J shaped needles, and you can bend it allow you to turn it simple as basically anchoring hernia mesh without working your waist. For those of you who know how that works, you realize the following is you have the system by now that is coming that will be composed of a handle that you can use for more than 200 surgeries with stimulation. You can attach the different needle distal end for pain by a trick and in laparoscopic and you do that primarily because you want to provide the surgeon a solution that will be cheaper to produce easier to use. But eventually we're considering that we need to go into surgeon data basically using the device than 30. So there is a workload level. So we're going to move into semi automated systems. and eventually to a robot. And that to that image, we posted it. So I talked to you about the solution hernia repair, for example, it's a $1 billion market that is growing very fast. It's a solution right now use ICER in open surgery, using tackers. And more and more the robot and as a comparison, which is our device, this is for one clinic, and we could actually you know, you do challenge that, but you will see that the price of a surgical tray using our needles in our device is high. And you will see some Asterix, for example, the grasper, this grasper is a reusable device I could have taken out, and you will see really the price point that we offer. So without basically looking at cost effectiveness, without looking at training. This is very much when you provide hospitals. So how do we compare to other products is the first platform that you can use across all social platforms. It's also the only one that allows surgeons to use their own needles in the desire. But we also have our needles that allowed them to do things, they will not be to do otherwise, which is tremendously well integrated, vetted in organic research. And more importantly, the price point, this platform is allowing the hospitals to actually, you know, manage their budget. And as I mentioned to you, we are focusing on access, how can we leverage that. So we have built a team that is quite experienced, we have more than 20 years in average, we have been involved in multiple ventures, the team has weighed more than $150 million for the time that you might have been Maggie, who is our VP for Gene marketing that is out there. You also met with Dr. Amador, who is inventor was driving along. And so from attraction standpoint, the legacy company have raised 85% of their new funding with surgeons. So whenever investors ask me, what is attraction that you have heard us know that will work. We have surgeons that invested $250,000 in the concept. And it is not traction enough. I don't know what it is. We have more than 20 patents filed in the US next us, we already have signed an agreement with a GPU. And as if you understand the market, GPUs don't sign contract until you switch into the market. We always have agreement with, you know, film adventures in South America, we are funding completely to commercial operations. All of that to say that there is demand, you know, which is in the market, excuse us. From a sales standpoint, as you can see, we've we're very busy, we'll be launching multiple products over the pending period. But we expect to reach you know, peak sales to us of 100 $40 million. So right now, we're currently raising $4.5 million in a safe and the primary objective is to get quickly to a finish line, we use the product, get the pre built, and then we'll use facility. Now, this is the added value. These needles that we showed you are optimized for device. But if you have ever looked at when you checked the cell list of risky US companies that manufacture needles, you have seen 1000s. And so we are currently engaging with companies, because we can actually partner with them to maximize your budget. So your investment right now, basically will be doubled because this entire business is a $4.5 billion market. And we expect only to catch 3% of that market in this graph here. So I thank you very much for that attention. I invite you to join us. That's a new evolution, the first device that actually is wallet based and that really changed the way we suture. Thank you