fluidIQ | Matt Vogelhuber, CEO

(Transcription)

Matt Vogelhuber  0:03  

Thank you. So my name is Matt Vogelhuber. And I'm the CEO of Fluid IQ. Thanks for allowing me to take the time today to introduce Fluid IQ. And the first of our many disruptive medical devices we hope invent. The mission is to innovate, develop and deploy fluidic solutions, while saving lives and enhancing medical care for patients. And the first introduction is the hope investments to broad simple lung saving ventilation for millions in need. Well, the bag valve mask has been a critical part of life saving tool since its inception in the 1950s. But for over the last 70 years, there's been little improvement in the technology. Manual resuscitation using a bag valve mask is highly labor intensive. The providers stress and ongoing fatigue from squeezing a bag every six seconds. For required breath is extraordinarily time consuming and extraordinarily damaging to the lungs. So imagine your hands cramping from squeezing a bag every 10 seconds in a 15 minute ambulance ride. So the most common error in using a bag valve mask is inadvertent is forcible inhalation that can result in significant damage to the lungs. Periods of excessive ventilation can enlarge the air sacs and and enlarge the lungs and stress the air sacs to the point of fatigue and rupture, causing inadvertent harm to the patient. And as you can see here in just 20 minutes from normal to markedly enlarged, based on this particular rat model. Studies show that even highly trained professionals have a rate of over inflation of about 70% with first responders rate of over inflation at about 90%. And if you've ever seen a bag in a bag valve mask, it's about the size of a football. And it contains two and a half times the American Heart Association's recommendation for tidal volume, which is the air moving in and out of the lungs. So it's it's really dangerous. overinflation happens, especially when responders in high stress environments get tired from squeezing a bag every six seconds. So what is the hope invent? Well, it's been described as the world's smallest resuscitator. It's hands free. It's a single use gas powered resuscitator that has no moving parts, no electronics, no sensors. It's about the size of a lipstick container. It can be 3d printed, and it's lung protective because it has fixed pressure settings and therefore can't be inadvertently overinflated. So a physician we spoke with described the invent as more sensible ventilation. It provides disruptive benefits to both the patient and the provider. So what we're doing is elevating the standard of care for the patient, using lung protective technology that reduces not only mortality, but length of stay in the hospital. And the hands free aspect of the device eliminates the fatigue from squeezing the bag, and it enables the EMT to administer care to other patients and other traumas. So how does how does it really work? Simply connect the infant to an oxygen source or compressed air. And it fits it connects seamlessly with off the shelf ISO safety components, a mask or endotracheal tube and then directly into the patient. So as mentioned, the hope and vent was designed to either assist or control the ventilation of a patient and customize the target a range of lung conditions, which represent most patients that present for ventilatory support. And the three interchangeable color coded devices red, yellow, and green have different fixed pressure and different minute volume settings minute volume, meaning the amount of air a patient breathes in a minute. And the settings are based on lung compliance, which is the ability of the lungs to stretch or expand, and that's reflected in a changing respiratory rate. In other words, the less compliant or less stretchy the lungs are the faster the respiration rate by simply counting the respiratory rate. And following this simple protocol, the vast majority of patients can receive lung can receive life saving lung state lung safe ventilation by one of these three devices. So what is fluidics fluidics is a valveless technology that utilizes the fixed pressure settings much like a mechanical ventilator. So it's oxygen flows in from the left through the BB nozzle and into the resulting jet of air attaches to the right side of the device. ice into a patient's lungs, increasing the pressure. Once the preset pressure is reached, the patent pending geometry is designed for the feedback flow to become great enough that switches the power jet from the right to left ending inspiration and starting exhalation. And this process continues to cycle automatically, with or without patient ventilatory effort. So Fluid IQs core competency is the rapid application of innovating prototyping, and product development. But our innovation relies on 3d printing. And it's enabled our engineers in the team to create 1000s of iterations of the initial product that we're going to rely on his partnerships across other parts of the value chain manufacturing, sales, marketing, distribution, and third party logistics, which will allow us to be much more agile and much more capital efficient. So the go to market segment is the manual resuscitation market. It's it's roughly 550 to $600 million. Now it's going to grow to almost a billion dollars by 2028. But we're going to initially target the emergency transport segment with a soft launch in the third quarter of this year. Moving to a broader national launch in early 2023. Well, the first video store was opened in the mid 1970s. But you would never drive to a blockbuster given today's streaming technology. So really, why in the world is the medical device industry satisfied with a 70 year old technology that has measurable disadvantages? We don't think there's any reason and that's why we invented invent to disrupt and replace the existing standard of care and improve patients lives. So again, how was invent differentiated, it's safer, more efficient, and a simpler option than today's 70 year old bag valve mask technology. It provides lung protection against excessive inflation, enhance three capability that reduces stress and expands care. The leadership team is substantial. And it's really a differential company asset with over 200 years of experience in the life sciences in engineering and startups and exits. The team has track records of execution and commercialization excellence and success. And it really is highly unusual to see a team at this phase of the startup lifecycle with this degree of experience. And it's going to enable us to focus on growth as opposed to identifying talent and onboarding the folks. Well, the company has reached several product milestones. We've got an ongoing collaboration with the NIH, we've completed an animal study with the NIH, and the NIH has submitted a publication a major medical journal using our device. Today we filed three patents to provisionals in a PCT Patent Cooperation Treaty filing in our regulatory validation with submitted 510 k and we anticipate clearance toward the end of the second quarter of this year. We've set clear milestones to which we're held accountable for as I mentioned FDA clearance later on this year, signing a licensing partner for manufacturing, sales, marketing and distribution, closing our seed round to secure funding for the next 18 months, launching the second half of this year and moving to a more cost effective injection molded product, which will allow the margins to be significantly greater. So we're planning to continually develop a platform of products in the respiratory space fluidics will underpin and power a family of products with subsequent innovation. Our core innovation competence and regulatory strategy will enable us to bring new products to the market more efficiently and effectively. And we're currently raising a seed round to have very compelling attributes for investors. The leadership team, as I've mentioned, have skin in the game. And we've had track records of success. Product Innovation is very capital efficient and agile. And iterations of initial device will reduce the regulatory and go to market initiatives. So the ask a little bit smaller than what others have asked for. We're looking at a $6 million seed round with the use of the funds to really secure the management team that's in place, engage in commercial activities, move to injection molding, and develop our platform of fluidic innovations. So with that, thank you for your time and we'll be in the next room and we'd love to meet with investors Thank you