Mark Evans Presents Adaptix at LSI USA ‘23

Transcription

Mark Evans  0:05  

So thank you very much. So, in some ways, what we're doing is really very easy. Everyone in this room has had their life touched by X-ray, be it medical or be Dental at some point. But it's fundamentally got a problem. And it's a 2d image of a 3d you, what we're doing is delivering 3d At the point of care. So we've got a huge patent portfolio 28 patent families were FDA cleared, we've got considerable cost advantage makes serve install its massive, multi industry multi platform product, and we're looking to raise 30 to 40 million to scale up commercialization. So what's the current problem? 2d images are really quite bad. Patient transit is required, there are unnecessary referrals, because that 2d image, that first 2d image quite often isn't that great. And there's very high infrastructure and maintenance costs. And particularly, if you're talking about CT or MRI, it just gets more expensive, and more costly, and more with more patient trans transport required as you go through. So inter hospital transit is a significant issue. Our objective is to reduce the need to take the patient to the hospital in the first place, but also reduce the need to transfer ill patients through a place where many more ill patients have already been an inducement doing so reduce the problem of hospital crowding. So what's needed is a solution. It's low dose, affordable, small, and 3d. And that is the adaptive solution. It reduces the dose to patients and clinicians. It avoids space issues, it's truly portable. It doesn't need three phase power, it's got a lower cost of ownership, and it will improve firstline diagnostics, and give enhanced diagnostic clarity. So this is what the system looks like. Just to show what it looks like when the light start to flash. That's when each of the 45 emitters has been fired into to create that 3d image. And the 3d image has finished now, it's a five second acquisition. And then about 20 seconds afterwards, the 3d image will be available to be presented to the clinician for review. So it really is that quick, imagine having this in the treatment room, in the emergency department, or even in your primary care provider. So it's a novel technology, it's cold cathode, but it's also silicon based. And what we do is, because we're rastering, across a number of fixed emitters, it doesn't need any moving parts, there's no mechanical movement. And most important, because it's small, it's simple, it's lightweight, it completely transformed the service model, that is one of the main drivers of cost in this industry. So what's the basic proposition is quite simple, multiple 2d images will replace by one or two 3d images. And if you've ever been to a dentist or had your wrist imaged after you've fallen over snowboarding or something, you'll know that quite often they'll image it three, four or five times as they chase that possible fracture. Well, we see a future where instead of having a single 2d is a single too many two days, you have a single or two, three days, giving you much better visualization, the joint surfaces, and one of the feedback points from the clinician review is a better ability to diagnose, for instance, arthritis, and similar in the joints. So what the, what the clinician sees, is this, so they basically scroll through like they would have CTE. And as you go through, you can see incredible detail of the trabecular structure, the bony structure inside the pores inside the bone, and also really, really good details of the joint spaces as you go through. Once you've got that, you can turn it into 3d 3d models. And so here, what we're watching is the elbow rotating, and really exciting if you're looking at some of the most common injuries inside that present in the emergency department. And here, obviously, what we're looking at now is on a holographic display, and we're going through and looking at the joint space. So obviously one of the advantages of 3d, it's much easier to apply machine learning to. So as we go through this lamb bone, you can see the non nondisplaced fracture present right now. And that would have been basically impossible to see on the 2d X ray. But when with Adaptix 3d, it's readily highlighted, and we can then apply machine learning to find that fracture. So why, what have we got that's an advantage? Well, we've got an incredible portfolio 29 patent families drafted 28 filed 315 pending applications, and over 160 patents granted with over 100 further disclosures to start to farm. Obviously not every one of those will turn into a patent. But hopefully you can see just how robust our patent portfolio is. So why does this matter what ultimately is better for you as a patient? It's a faster time to diagnose faster time to treat and discharge a lower risk of diagnostic misses and Lower, lower needs for travel. But it's also better for the physician in terms of that reduced time to diagnose and treat. And it gives them new capabilities to enhance their practice profitability, but also from the perspective of the payer is going to significantly reduce the cost to diagnose and treat the patient. So where are at the moment where we just got our 510 K for the orthopedic next will be the general radiology and also dental we're in market in nondestructive, evaluation and veterinary that we've used to basically prove the technology. So this is where we're going next those for those panels that you saw on the video will be bundled together, we'll have to increase the power. And that will allow us to bring 3d chest imaging to the ICU, or the emergency department, potentially even into primary care. And so we think this will be a transformational impact in terms of reducing the need to transit patients and give that enhanced 3d Clarity throughout the hospital. Clearly, with all the big players in into the X ray, something that displaces to the X ray and replaces it with 3d is potentially very large markets starting off with about 5 billion for where we are today. 2.8 billion for dental intraoral and then chest imaging is a much, much larger market. So we've de risked the operations in terms of we've got the core technology, it's been mobilized in silicon gland in Scotland, we're outsourcing the integration of the of the actual system itself. We've had collaborations or have collaborations in place with the University of Oxford, Manchester, Edinburgh, Liverpool, Surrey, and several other leading institutions. As I said, we have 510 K clearance, see Mark will be scheduled for about q3 and UL marks, we can sell the component sometime in q4. Key thing here is is that for the early products, we have recurring revenue models, we got first customers in that an NDA and in discussions with US national distributors. And what we're aiming to do is, is basically deliver imaging as a service with a payback to us after about six months. So upcoming milestones for us. Close the financing, enter into a US distribution agreement, validate us Scottish production line, start hiring the US commercial team, we started to make progress on all these. And then after that, demonstrate Computer Aided diagnostics, launched the dental product, get the business listing ready, and after that scale Salesforce and launched the chest product. So in terms of where we are today, we've raised about $20 million investors include a UK listed company, we're targeting now a $40 million round to take the business through to 2025 through those key milestones that I outlined. So the use of proceeds will be a UK and EU commercial rollout, US Operations build out and commercial launch, manufacturing scale up and a product pipeline development. So in terms of the management team, myself, the CTO and VP product management all work together at Siemens some time ago. Chief Medical Officer previously advised GE VP finance was previously a finance director for a UK listed company. One of our LEDs is the former chief medical officer of GE, and our new chairman previously raised $245 million in the last round. So was 72 person company, very tech heavy with 16 PhDs and MDs and a very good male female ratio for a company of our stage. So highlight we're regulatory cleared, we're ready to scale we've got a good IP base and product pipeline will grow an already massive market. We're not just going to displace 2D, and now is a great time to invest. And the reason I hope you'll do you'll consider doing that is because one day will touch the life of everyone you know, by replacing 2d X ray with 3d and delivering better quality diagnostics at the point of care. Thank you