Joe Eibl Presents Flosonics Medical at LSI USA '23

Transcription

Joe Eibl  0:05  

Really glad to be here. My name is Joe Eibl and the CEO of Flosonics Medical and together with my co founder, Dr. John Amil Kenny, who's a Stanford trained intensivist, key opinion leader, and international, internationally regarded speaker on Doppler ultrasound with a great team of engineers. We've developed flow patch, the world's first wearable and wireless Doppler ultrasound. Flopatch enables real time blood flow assessments for nurses clinician or for nurses, paramedics and physicians that are caring for critically ill patients in the emergency room operating room and intensive care unit. It's a really elegant application. It's a single use wireless Doppler ultrasound gets applied over the patient's neck transmits low energy Bluetooth to iOS devices. And it's easy as activating applying, and you can start your assessment within seconds. We're targeting resuscitation as a beachhead market and we're currently commercializing the technology. As you can imagine, blood flow assessments targeted many large and important verticals. With combining sepsis, parry arrest and trauma we estimate around 4.7 million patients a year could benefit from flow patch assessments. totals are roughly a billion dollar total addressable market and our beachhead and compelling clinical unmet needs also exist in the operating room and outpatient heart failure management together combined for a North American total addressable market of $4.7 billion per year. Now, our primary use case, the reason we started the company, my co founder is an ICU doc, and he would get these patients every day that would come up with they come into the hospital with sepsis. They come in through the doors of the emergency department, not a lot of information on this on these patients, but they get ordered a 30 cc per kilogram fluid bolus, which is part of the sepsis care bundle. Now for healthy patients. That's great. They get a I shouldn't say healthy, pardon me if they have an intact cardiovascular system. Those are 30 CC's per kilogram for 100 kilogram person translates in about three liters of a rapid fluid bolus that comes into the vasculature increases the hearts filling pressures, if you have a good heart that that increased preload on the right heart translates into increased stroke volume out of the Left Heart, more blood gets pumped to the vital organs, more oxygen gets circulated. And more antibiotics get delivered to site of infections generally very positive thing for the for the patient's resuscitation. The challenge is that 50% of ICU patients do have a cardiac complication. They can't tolerate that three liters of fluid and what happens is that fluid sits on the heart floods the lungs and backs up the kidneys. And the result is a patient ends up in fluid overload. So the value proposition for flow patch in the resuscitation care pathway is helping clinicians know when to put the brakes on their fluid resuscitation to prevent fluid overload. I was recently rounding with an ICU doc at one of our clinical sites. The first patient we rounded on hydro net fluid balance of eight liters positive. The next patient had an IV net fluid balance of 12 liters positive and the third patient we rounded on balance of 15 liters positive. These patients almost it's not funny, but they do have some similarities to the Michelin man from this, this figure from our journal of intensive care. And the the main or the thing that everyone recognizes is that fluid overload is a real clinical problem and it's bad for everyone. patients stay in the ICU and the hospital longer, they end up on mechanical ventilation, they end up in renal replacement therapy. The good news is that over the past 10 years, a very strong body of literature, a compelling body of literature has come out that's demonstrated if you use Flow guided assessments during your recitation, you can reduce the length of stay in the ICU by one to three days, you can reduce the need for mechanical ventilation by up to 51%. You reduce the need for renal replacement therapy. And patients spend less time on vasoactive medications and how to reduce net fluid balance and basically prevent fluid overload. And that has a net savings to the hospital about $14,500 per patient. It's really important because sepsis patients are a high volume patient population in the intensive care unit, the most expensive patient population in the hospital, and they tend to be our cost center for the hospital hospitals generally don't make money on sepsis patients. If you can provide the fluid overload you reduce the cost by $14,500 per patient, you can turn that cost center into a revenue center. Now we know that fluid flow based assessments are really important in the resuscitation. pathway. The problem with current technologies is that they're either invasive time intensive, they're prone to user error, or they're too obtrusive or awkward for deployment early in the care pathway where a lot of that fluid is coming on board. So that's why we invented Flopatch flow patch is deployed in seconds, it goes over the carotid artery uses low energy, wireless Bluetooth and transmits to iOS devices. It can be deployed across departments, it travels with the patients throughout the hospital. And the data is easily interpretable with a very fast, very fast learning curve for the clinical team. And what makes flow pouch so easy to use. And so valuable is in those early stages of resuscitation, when you have very little data to go on. A Flopatch on the neck will give you both beat to beat blood flow information about what's coming out of the what's going through the carotid artery as a surrogate for the left heart, as well as what's coming back through the jugular vein as a surrogate for the right heart. And those are the data points that you need as a clinician at the bedside managing the resuscitation of the crashing patient. There's been a lot of excitement but full patch, a technology highlight was recently recently published in critical care titled wearable ultrasound, provocative hemodynamics view to the future, a view to the future. And when we design foot when we built flow patch and designed it, we wanted to combine the best of all of the current technologies and make them available to us at the bedside. Flopatch is non invasive, it's b2b, it enables remote patient monitoring. It's cloud connected, it's rapid intuitive, as I just mentioned, it provides a view to both venous and arterial systems. full batch is also very unique in that it's the lowest cost ultrasound machine on the market. Our average selling price is in the range of two to $300 per patient, our cost of goods at 10,000 units $40 that leads to an 80% margin. And just for context, the range of competitive technologies generally sell between two to $400 per patient. So even at the low range of the of the at the low end of the price range. flussonic still has a very flat patch still has a very healthy margin. A little bit more context. The company has 40 employees, we have 23 peer reviewed publications 12 patents, we have FDA clearance Health Canada clearance, and CE mark, we operate a 14 through ISO 14 through ISO 1413 485 manufacturing facility in Toronto, Ontario. And we're in the early stages of commercialization. We have a proprietary Doppler database of over a million cardiac cycles now. And we're using it to drive our data analytics engine which powers our automated Doppler interpretations that are presented to the clinician at the bedside like to close by just acknowledging the amazing partners that we've got. We're in wonderful hospitals across the United States, Canada, we have active development contracts with the Canadian Armed Forces and the US Navy. And we are in the stages we're rapidly growing in the stages of early commercialization. So we're really excited to get the story out of Flosonics continue to develop the evidence base and rapidly grow our sales and marketing teams. We're going to be planning a financing round later this spring. Anybody that would be interested in talking to me, I'd love to chat with you and give you more information about our company. Thank you very much