Joseph Rafferty Presents VESTECK at LSI USA ‘23

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How are you, Joe Rafferty CEO of VESTECK. And we're here raising $16 million in series B, and we are looking for a lead investor. We just closed out a flat round of Series A, and we've done about 10 million total in what is VESTECK, we've got a catheter, it's an over the wire catheter that delivers nitinol sutures, either at the index procedure, the initial implant, or there are about a million patients around the world. They've got these grafts implanted already, and they're failing at an alarming rate. So we can go back in and give physicians a tool to secure those graphs and repair those, those patients. Interestingly enough, we just did our first three in-human cases. And we sent out a number of press releases. We've got the old deck, can you go back a slide? Anyway, I had some pictures of a gentleman by the name of Sean Wyden, who's the chairman of the department of vascular surgery at Cleveland Clinic, who did one of our first in human cases. And we sent a press release out. And one of our big investors sent a note back and said, if Shawn Lydon is the chairman of the department of vascular surgery at Cleveland Clinic, he's kind of like the Michael Jordan of vascular surgery. And I think what I read in your press release was Michael Jordan likes your sneakers. That it's a tool that these physicians absolutely need. The problem. open surgical procedure is the gold standard. If you get on the table with any comorbidities, you're given a 20% chance of not getting off the table. 80% of these procedures are done percutaneously to small holes in the arteries in the groin, the grafts and planted and a patient typically goes home in a day or so the challenge is that the peer reviewed literature suggests that they're not durable at all. In fact, one of our KOLs that just signed on as a Advisory Board member said that for 25 years, we've been doing the same thing, kind of like the definition of insanity, we're putting the same graphs and they don't stay in place, we need other tools. There really are no other tools out there. As I said, why now 80% of the patients around the world are being addressed this way. The peer reviewed literature is finally catching up and suggesting at five years 21% Most of the Kol is will say that 21% is probably closer to 40 or 50%. And if you go to the Cleveland Clinic, or or Vanderbilt or Mayo, they're doing four or five, six of these repair procedures a week, payers are shifting from fee for service to quality initiatives. They don't want these patients coming back. This procedure was actually shut down in the UK for about two years. Because with socialized medicine, they knew what they were paying for. And then the solution is ours. It's best tech. There's one company out there right now that's got a technology Medtronic has got a product called well it was called apt is now it's called health effects. To Medtronic credit, they've been doing a great job of plowing our green fields, the the devices and old first generation device, we've got a newer device, but the physicians are very much aware that that when the endo anchors are put in patients do better. So we're going to benefit from that. So platform technology, we can secure TAVR grafts and minimize paravalvular leak all the way down to the iliac limb. So we'll have five or six different devices that we can bring into market. It's a big market, we think we can bring an additional incremental billion dollars to it, we've got clearance from the FDA that it is a 510 K pathway. The app this device is our predicate, there are existing DRGs and CPT codes for the initial implant, and for repair procedures to big markets, the initial implant. And then also as I suggested these repair procedures, there's a million patients out there globally that need solutions. This is the device. The first generation device, the newer one looks very similar to this. We've got a biasing mesh that opens up and it holds the catheter against the wall. And then as you can see the suture delivery windows, we're literally pulling sutures down into that window. One of the nice nuances to this is if a physician goes to position the suture doesn't like the suture position can retract it, that's what's going on here, retract it, move it and then redeliver or deliver that suture in a different position. So very fast, very safe, very easy. And when surgeons see this, the sutures going in, it's it's very comfortable for them. They've all sutured in there, whether it's residency fellowship, intervention illest surgeons. So you can see how fast that goes. Top left the luminal surface of a dacron graft, top right, the through and through of the admin tissue, which is critical because when we secure the graph to the admin tissue, it doesn't move, it's not going anywhere. And that's the important part. The picture on the left there, Dr. Dai Yamanouchi from University of Wisconsin, first time he had the device in his hands delivered the sutures in the proximal neck, which will hold the graft in place to the aorta. But then he wanted to show the and this is a gore graft, he wanted to show how precise he could deliver the next round of sutures. And just to prove that it wasn't a fluke, he did it again, where he positioned the sutures in between the stent struts there to show exactly how precise the device is. As I said, there's one competitive device out there, Medtronic has done a great job of building the business. The challenge is it's not easy to use. And, and physicians tell us they want to a third or fourth generation device. Exceptional clinical flexibility because the physicians that designed this device designed it to overcome the current clinical limitations. It fits smoothly into their existing procedure. We're not interested in creating a disruptive technology or where we've got to recreate a $5 billion market we want this to fit in with the same the same workflow. We've gotten an awful lot accomplished in the last couple of years, we've raised to almost $10 million right now, our manufacturing and r&d offices in Carlsbad. A lot of the ACS Gaiden people are there. So they've been there, done that and done a number of startups. They said we've we've got three of our of our first inhuman cases done a number of preclinical cases, we're raising 16 million. And our goal is to have FDA clearance by the middle to the end of 2025. Relative to NDAs, and potential m&a partners. The majority of the space knows this. There have been a number of very big and lucrative acquisitions over the last number of years way back in 2015, Medtronic paid $110 million for Aptus. And I don't know that they had $20 million in revenue at that point in time. One of the important things that we've gone after is that when we got the, the technology in the IP, the initial IP was a little long in the tooth, so we set out to create some additional protection. For the next 20 years we've got extensive IP on the entire catheter, the distal part the sutures, the handle, and so a potential m&a partner will have some some very long runway if you will. We've got a an all star team, our founders, Erdogan Rashard, our founders that you don't want to shoot. Sean Lydon is the Michael Jordan of vascular surgery. Ted Stocker and Kent Wolfman have been with us for many years ACS Gaiden Ted started pathway he was a co founder of pathway and Bob Mitchell has been called the smartest guy in the endovascular space. The Advisory Board is on advisory boards for Medtronic Cooke Gore to Remo and and they are the who's who in the industry. So we've got a fantastic team, a great technology that all of these physicians tell us they need and their significant global unmet need. So we're here to let you know it's a tremendous opportunity. And we'd love for you to talk about a $16 billion investment thanks.