Liz Williams Presents Hemideina at LSI USA '23

Transcription

Liz Williams  0:05  

Good morning, everyone. Our ears were designed to connect us to each other and the world around us and Hemideina was founded to restore that connection for those with disabling hearing loss to provide a full and connected world through sound. More than 60 million people worldwide suffer from disabling hearing loss. Many of us have seen the impact that this debilitating disease has on our loved ones we watch. As they cannot communicate, they can't participate. They withdraw from life and become isolated and lonely. This disease disproportionately affects those over 50 with one in three suffering from age acquired hearing loss, and this group is most at risk from cognitive decline and social isolation, and it is time to stop leaving them behind. So we're here with our brains not that is. And disabling hearing loss occurs through damage to the hair cells in your inner ear, which means you can no longer transfer sound information to your brain. So, with disabling hearing loss, you've got three options do nothing and that puts you at a higher risk of accelerated cognitive decline. For many people with this level of hearing loss, a power hearing aid is ineffective. Because it can only amplify sound, it doesn't treat the damaged ear. A cochlear implant is the only viable option to restore hearing a surgical intervention. It bypasses your inner ear to directly electrically stimulate the cochlea to treat the damage here. However, less than 3% of eligible candidates in this segment adopt cochlear implant treatment. This market has an adoption problem caused by stagnant innovation. Over the last 25 years hearing performance scores have plateaued and we're talking about speech in quiet with these scores. Similarly, aesthetics haven't evolved over the last 25 years, that speech processor has remained similar to the one in 1998. incumbents are locked into an architecture designed in 80s that limits their ability to progress in hearing performance and doesn't meet modern consumer needs. These companies are focused on profits and manufacturing efficiencies, not innovation. But the good but the user needs are clear. We surveyed hearing aid users who are eligible candidates for a cochlear implant treatment. We wanted to identify what would motivate them to adopt cochlear implants. Hearing performance and sound quality were their major pain points. Many hearing aid users told us that the size and cosmetics of a cochlear implant had to change in order to avoid that treatment being so visible and they wanted to fit in with their everyday lifestyle not be an additional hassle to manage, and they need it to be affordable and covered by insurance. What they need is the Hera Cochlear Implant, we've taken a completely different approach to sound processing to restore the sound information that is missing in traditional cochlear implants. With breakthrough technology inspired by natural hearing system, we aim to deliver hearing performance that is closest to natural sound. We've redesigned every aspect of a cochlear implant from the ground up. A slim behind the ear sound processor provides a similar discreet aesthetic to a hearing aid whilst being able to be retained comfortably in the ear without the need for magnets and all this whilst providing an affordable solution covered by insurance. We will win in hearing performance. Our patented sound processing technology mimics the function of the inner ear hair cells. Using this technology. They hear a cochlear implant catches and delivers temporal fine structure. This is the critical sound information that your brain needs to hear and noise, recognize different voices and emotions and appreciate music. Traditional cochlear implants discard this information during their sound processing, so they cannot accurately deliver a temporal fine structure to the brain. And we will win in aesthetics by taking advantage of the ear. We avoid the headpiece of a traditional cochlear implant making it a much more discreet device and therefore reducing the stigma associated with such a visible hearing loss treatment. And we will win in practicality. It's our in ear powering technology that enables us to eliminate the head coil of traditional device and eliminates the need for magnets making our device fully MRI compatible. Unlike traditional cochlear implants, our device falls under existing reimbursement coding, so we offer an affordable treatment with all of these user benefits. Unlocking the over 50 segment is the key to realizing the potential of this market and addressing the adoption problem with the US town of 2.5 million people in this segment alone, the total available revenues are significant. Hemideina has the opportunity to become a $40 billion company with a penetration rate of just 10% by better serving the needs of a clearly underserved market. Hemideina is a great company to own the structural trends of population growth and ageing populations, this market is growing at 9% per annum. Governments around the world are investing in hearing health care due to the proven link between untreated hearing loss and dementia. And there are multiple revenue streams available. So you're reimbursed for your initial device sale at us $25,000 per unit. You then reimbursed every five years for sound processor upgrades and have ongoing support and services revenue to implanted customers. Hemideina will create a disruptive and profitable cochlear implant company that aims to access the ongoing annuity income and high margins of today's incumbents a compounding machine that aims to unlock for over 50 segment to realize even greater returns for investors beyond today's 15% Return. To date, we have raised US 12 million in equity capital and non dilutive funding. Our preclinical data has demonstrated that we deliver temporal fine structure to the auditory nerve. We've also shown improved neural discrimination of different speech tokens in increasing background noise, validating our hypotheses, and we're just wrapping up our product prototype. We've got four steps left in our pathway to revenue, converting our product prototype into a clinical trial ready device verified against known industry standards. The first thing humans study was six patients to demonstrate safety and functionality, and that offers an opportunity for an exit or potential listing. Subsequently, we would target FDA approval with 50 patients in a pivotal trial, demonstrating safety and efficacy before launching into the US market in 2031. We're a female founded company focused on evidence backed science and customer centric design. Our team and vision are supported by an impressive group of global industry experts, and we collaborate with leading hearing research institutes around the world to help develop our technology and our growing body of preclinical evidence. Our competitive advantage is secured via two unique technologies. The first is miniature wireless pairing that is the key to redesigning the cochlear implant. Our proprietary power electronics enable us to have a miniature coil that sits in the ear, enabling that modern aesthetic whilst delivering power to our implant for our stimulation, without the need for magnets, and without the outdated headpiece of traditional devices. Our second area of technology is our proprietary sound processing and stimulation inspired by natural hearing system. This is our foundational technology to improving hearing performance to restore the temporal fine structure that is missing in conventional cochlear implants. Cochlear Limited is the market leader today with 60% market share and a market cap of 13 billion all these they've implanted 700,000 devices, and 30% of their revenue comes from up sampras's upgrades to those 700,000 devices. When Hemideina succeeds, we will be a global company operating as a disruptive new entrant alongside today's key players with a significant market opportunity, a clear unmet need and access to the existing reimbursement model to access recurring revenue income, we offer an attractive proposition to investors. But most importantly, we will deliver life changing technology to the people that need it the most to restore a full and connected world through sound. So thank you very much for your time. Thank you