Video Transcription
Kaapo Annala 00:02
My name is Kaapo Annala. I'm CEO and co-founder of Neuro Event Labs, a company that is dedicated to AI-powered neuro diagnostics, starting with epilepsy. There is a large unmet need in the market, and there is very little disagreement about that between the professional users. On one hand, there are long wait times for patients to gain access to the necessary procedures and experts to get the proper diagnosis. On the other hand, the misdiagnosis rate is really large as well, between 20 to 40% depending on the expert level of the person doing the diagnosis. This, combined with the outdated technology out there, means that even in 2024, the standard of measure, both in epilepsy care and the development of a treatment plan, is still pen and paper. We can do much better than that. At Neuro Event Labs, we have developed a novel contact-free AI motion diagnostics product branded Nelly. By utilizing computer vision and machine learning, we can extract from video and audio signals tens of biomarkers, feed the pre-trained models, and land with the detection of the abnormalities of the patient when they are under observation. Those neuro events that are detected can be classified as either epileptic, non-epileptic, or what type of epilepsies and seizures we are talking about. We have developed a learning system that is continuously evolving to be more accurate and also extended to other areas and other indications based on the patient data we collect. As of today, we have the largest private video library of annotated neurological events and biomarkers. We operate currently in three different business areas. Home monitoring is the largest segment of the market, with a 3.4 billion annual addressable market, and that provides long-term monitoring period outcomes to properly diagnose but also treat these individual patients optimally. In-hospital monitoring provides, in addition to these real-time components for safety purposes, real-time notifications for the staff if there are moments concerning the safety of the patients during their monitoring. The size of that business, based on our calculations, is 900 million per year. The third area is our industry pharma business, where our customers use our technology to measure objectively the outcomes of their therapy. This is used both for therapies under development and in the market as a companion. The size of that market is 280 million annually. We add value for all of our three user groups. First, patients get faster access to necessary procedures and experts, allowing them to receive proper diagnosis and treatment faster than they do today. Secondly, healthcare professionals, based on our recent clinical utility study, experience significant improvements in the efficiency of their work, but more importantly, they achieve a 74% improvement in accurate diagnostics compared to the standard of care. Last but not least, healthcare providers and payers, based on our recently finished health economic study with NHS, led by the Oxford University Hospitals, have seen immediate cost savings of 500 euros per patient compared to the standard of care. This is already a significant benefit for the payers, and it also validates our own calculations of the size of the addressable market. But more than that, I am mostly happy about our users; they are very satisfied. Based on our continuous surveys, we have received a whopping 85-point NPS score, which translates to 97.8% of users recommending the use of our product based on their experience. That is very good. Our product is validated by leading institutions, clinical researchers, and industry players in the field. Some of them, though not all, are listed here. As of today, there are over 60 hospitals that are actually users of our product and technology, both in the US and Europe. Additionally, we have six active industry players who use our product, either as part of therapies under development, in the pre-commercial phase, or with products that are already in the market. We also have a clear roadmap for growth. We started in 2021 by achieving our first CE mark, which was MDD class one based, and we also received the FDA breakthrough designation that same year. Since then, we have transitioned our CE mark to MDR class two. At the same time, we also extended our indication, which is actually happening during this quarter. We have one product in the market in the US, which is in limited market access for closed hospital systems, called Nelly video telemetry, and we expect our standalone seizure detection device to receive FDA clearance in the first quarter of next year, followed by full reimbursement in the form of N TAP, which we have also submitted. These two, especially, are driving adoption in the US market, 25 and beyond, and we have exactly the right kind of team to execute our vision. We have unrivaled industry and medical expertise led by our Professor of Neurology and Medical Director, Yuka Peltala, who is a recognized authority in epilepsy. We also have world-class executives and engineers on our team who have several launches of medical devices and scaling them up in the market under their belt. Lastly, we are actively fundraising. We are targeting to close our round of 10 million euros next spring, which is really about scaling up our products in both Europe and the US. If there are any questions or interest, this is my contact. Thank you. Applause.
