Video Transcription
Leonard Moonen 00:00
I'm here to present Praxa Sense. We enable your remote monitoring needs by delivering unprecedented data quality that's necessary because the sensors currently used in the most remote monitoring devices for patients are PPG sensors, and these sensors are really lacking. That's leading to a slowdown in the adaptation of these monitoring devices. The problem is that these devices are in all devices, for example, smartwatches, remote monitoring devices, or SB2 monitors. These devices have a huge problem with data quality or lacking data. If you want to measure, for example, blood pressure, the data is actually quite lacking. Also, movement artifacts are a huge problem, creating significant issues in data quality. Another problem is actually skin color; darker skin colors yield inaccurate measurements. We solve this by developing a new sensor. The old PPG sensor is actually quite simple. It's just a LED and a photodiode looking at the pulsing wave of the blood vessels. Our sensor is a new sensor that we have developed based on speckle imaging. Instead of a LED, we use coherent light, a laser that reflects into the skin and reflects back upwards into a speckle pattern. This speckle pattern is quite special because we can extract a lot of data from it, for example, blood speed, which has never been done before in a moment phase way. We can also preserve the PPG signal from the current devices and combine those two. From this, we can actually improve the current parameters that devices have now, for example, heart rate, heart rate variability, respiration rate, or SpO2. On the other side, we can unlock new parameters, such as blood pressure, cardiac output, or vessel stiffness, leading to innovation in this remote monitoring field. We're actually very proud of our first results. This is our first tape-out of our first chip that has been done by XFAB, and we see a very clear SpO2 signal leading to a very beautiful blood speed measurement with really high correlation, and a nice blood volume signal that was robust in movement and works on all skin types. On top of it, we are actually developing algorithms with renowned partners because we cannot do everything alone. We want to do this with renowned partners, for example, Philips, Cesium, and Withings. With them, we're developing the next step of algorithm validation with other renowned partners, for example, the Erasmus Hospital and the Katerina Hospital. To recap shortly, our new sensor is better in motion, doesn't have any problems with skin colors, and measures, for the first time, blood speed, which really unlocks new parameters such as blood pressure. It can be used in the same devices as the old PPG sensor. We've seen keen interest in this. In the first month of launching this product around the world, we have gained six letters of intent from very sizable companies. The biggest one is Withings and Philips Smart Care. We have also seen smart companies attracted to our sensor such as Biosanté, Bioflis, and Physiologic. We're already in contact with larger companies to see if we can work together, for example, Polar, Garmin, Empatica, and Samsung. We're going to launch our first research product at CES in the first quarter of next year. That research product is really aimed to give to the first lines of us so they can get used to our signal, our sensor, and try to build their algorithms on top of our sensor. After which, in 2025, we will launch our MVP sensor that will be first implemented into their devices for their clinical trials, so we can launch on a larger scale with them in 2026, around 10,000 pieces a year. After that, around Q4 2027, we'll try to launch our product for smartwatches. For this, we need a larger production scale, around 100,000 pieces a year at least, and it has to be a little bit smaller. For this, we are already in conversation with our partners, NXP, Philips, or Azram, to scale up the production of our sensor. Our business model is fairly simple. We try to keep it to the basics. We just sell sensors. On top of that, we are trying to enter licensing agreements for the algorithms, and we have a market-informed price of seven to twelve euros. This is done in a huge market. We are aiming for remote patient monitoring and smartwatches. In this market, about 490 million devices are sold every year. Of 70% of these devices are equipped with a PPG sensor, and we reckon that we can capture about 50% of this market, leading to a serviceable obtainable market of about 2.4 billion. Of course, we're not alone in this world. Everybody is trying to develop a new sensor. The most advanced competitor of ours is Rockley Photonics, but they have completely aimed at glucose monitoring, and currently, they are not succeeding at that step. They have tried to partner with Apple; unfortunately for them, it didn't really work out. Other competitors of ours are more in the sense of advanced PPG sensors than the next generation. So we really believe that we have a strong position here in the market and that we can be the leader in this field. Of course, this needs to be protected. Our first patent is granted in this field and is really set to protect our position. So what makes us special is that we know how to make this sensor smaller than anyone else and how to extract the parameters out of it. Our first patent is granted on this part, plus we are currently working on three additional patents, which we expect to file at the beginning of this year, and we have another ten patents in the pipeline. Our financial prediction is done purely based on the current allies, so we don't look at other companies for that. With that already, we expect to sell about 2 million sensors in 2030, leading to a revenue of around 45 million. Even if we can grow a bit quicker than that, for example, if something would happen, that would be amazing, of course. But we don't take that into account in our current financial predictions. We deal with a strong team of young people, myself included. I used to work for Philips, part-time, during my graduation. I worked on their smartwatches and their PPG sensors, and from there, we gained ideas for this. My co-founder, Nida Lotock, is in charge of operating the company, and we have an experienced commercial lead who already exited a medtech company before. We do that with a strong advisory board on the strategic, medical, and scientific side. I like to point out two people in this place: Nadini Bhattara, she's the leading expert in photonics and speckle imaging globally, and Franklin, who has led the innovation program at Philips and has been in charge of the Health Lock before. So he has a lot of experience in remote monitoring. We're currently raising our seed round of 3 million, which we want to match with innovation credit, the Dutch government loan, so we can raise 6 million in total. With this, we can reach our first clients and implement our product with them, and we can accelerate our research and development. Thank you very much. If there are any questions, I would be glad to answer them.
