Video Transcription
Lucrezia Cester 00:02
Hey, everyone. So one in three of you will die of heart disease. And even despite all the novel technology, you are going to get your first diagnosis in the emergency room or autopsy, which is slightly too late. Heart diseases are very expensive. It is very expensive to treat. It costs 1 trillion a year, and part of this high expense is the mismanagement of how we diagnose the disease. 30.7 billion a year are spent on admissions because of late diagnosis, and 500 million is spent on unneeded imaging scans. So it's about diagnosing it late and over-prescribing imaging scans to people that actually don't need them. So we developed a device that is very accurate in diagnosing conditions early. It allows seamless integration into healthcare systems and doesn't require an operator. We shine a laser from a distance; through light, we gather sounds at a frequency that had never been captured before: ECG, blood pressure, heart rate, respiration rate, and respiratory sounds. We have run clinical trials to develop diagnoses for several conditions. On top of our data, we developed this by spinning out of the University of Glasgow, with our professor, Daniele Fauci, Emerging Chair of Quantum Technologies, and John Cleland, a top 10 most cited cardiologist in the world. Compared to other devices, it's cheap, quick, contactless, and can be used by anyone, anywhere.
So I did a PhD in Biomedical Engineering, and then I was an AI clinical scientist before starting this company. My co-founder, who took the place of my professor, worked six years in the med tech industry as an AI R&D tech lead, and then he was a research consultant at Columbia. We have put together a team from the University of Glasgow, where I did my PhD. One of the lead researchers joined us with more than 40 papers in photonics. From my co-founder's previous company, BrainSite, the main AI research lead joined our team, and they are part of our tech team. We have Dr. Kim Kirby, who has more than 20 years of research on how to integrate solutions into clinical practice. We have a clinical team that helps in product development, and the technical team that builds the infrastructure, along with an ops lead.
As I was mentioning, this comes from the work of emerging quantum technologies mixed with cardiology. Our panels of advisors come from this background, and maybe one interesting thing is that our cardiology advisor was able to run a clinical trial for us from the university with 3,000 patients for just 36k, which was really nice. Then, obviously, we have two regulatory consultants that help us identify and get through CE marking. We expect to receive CE marking as a medical device next year, and then we can deploy. What we do really is we take laser light, we capture data during our clinical trials from several locations, very high accuracy data, and then we train our algorithm to be able to recognize conditions when we point the laser at just one single location in 10 seconds. So you can put the laser on top of the world somewhere, and it can track people from just one location. Now it can track several conditions.
So what we have started with, and we will get CE marking next year, is structural murmur detection, as well as atrial and mitral stenosis. We intend to go into several more conditions, like heart stenosis, atrial fibrillation, heart failure, etc. Since we started, we have published several papers. Our IP is protected from the university; we were able to take 100% of the IP, which is quite nice. We have developed a scalable prototype that is 98% cheaper than what it was in university, and we have our first customer with a projected 100k MRR in an emerging market of non-invasive remote monitoring optimization workflow technologies. We have also developed a wearable, and we are talking with technology companies to integrate it into other solutions. We are also thinking about healthcare systems. We are in the UK, so we have won competitions to work with the payers in the UK, which are integrated care boards for deployment, which we expect to be able to do next year.
After we get CE marking, we are getting CE marking for safety this year and CE marking as a medical device next year. Our regulatory consultants have charted out our pathway for the US, where we will be at the novel stage. As I mentioned, we've already done clinical trials to validate our technology, both here and we are planning to do them in the US. Our pricing strategy that we have developed for our first customer, and we think is going to scale to other customers, is a subscription agreement of around 500 pounds per month on the various diagnostic algorithms that we'll provide. Compared to our competitors, we are way more accurate than the phone algorithms right now. We don't require a clinician, and we can do what Niko Health does. If you know of Niko Health, it just opened in London from the founder of Spotify. We can do what they do, but in a very small device that is much, much cheaper.
We raised grants, and then we just closed a million in proceeds a couple of months ago. The reason why we're here is that we're going to raise 3 million next year to expand our range of AI models to do FDA submission and market expansion, and we just wanted to start meeting mentors and potential VCs for next year. Yeah. Thank you. Applause.
