Martin Gurbin, Verv Technologies - Blood Analyzer | LSI USA '24

Martin Gurbin  0:03  
Imagine the power that you would have if you could take two drops of blood from your finger at home, and get results on that blood within 10 minutes, and then trend track and monitor those results on a very simple, easy to use system. The journey I'm going to take you on over the next few minutes is premised on the idea that everyone should be able to trend, track and monitor their health understand their health status, so that they can take action if necessary. I'm Martin gurbin, and the CEO of Verv technologies. I've been working across health systems for over two decades, across clinicians, scientists, innovation ecosystems on an international scale. The share of story goes like this. Two thirds of people want to test their blood at home. Systems structure itself limits basic access to health care, too many people do not have a primary care physician. In fact, 47% of the global population has little to no access to diagnostics, health issues simply are not being caught early enough. There's significant opportunity here there's significant market forces, frequent testing has normalized we know this in a post COVID era. blood testing markets are huge, there's significant room for new models of care, health system leaders note the health system needs to transform we need in fact, to democratize data, technology we all know is here we can empower people to test at home and understand their health status. Here's our solution. This is the valve system sample to answer from two drops of blood in less than 15 minutes. The valve system includes four component parts, the blood collection tube, the test cartridge, which has a multiplex capability. We have a low cost reader analyzer that's highly sensitive and highly accurate. And their software on the app. Again, it's built to be simple, affordable, accurate, and fast with little to no skill required. To core target markets or those with known health conditions. In the US, for example, there are 90 million people that have high cholesterol, only about half of those are actually taking cholesterol drugs, they need to understand what their number are, what their number is. Approximately 17% of people have low iron, that's a $4 billion market. The hormone replacement therapy market is 20 billion and growing very significant markets with known health conditions that need care need to know their number. There's also the 100 billion dollar wearable market. That's the quantified self. Very significant opportunity for those that want to take action. There's nothing necessarily wrong, but they want to know their number. They want to be very proactive and very pre emptive. To understand their number. We have a blood test pipeline in significant order here. This is a simple list of what we're working on already. Multiplex, we have over 30 tests that are planned right now that are offering a solid, solo and multiplex offering of assays. So we have total cholesterol, the lipids, total cholesterol, high density, lipoproteins and triglycerides. We're working on standard diabetes measurements, glucose, beta hydroxy, butyrate, and HBA one see liver function, kidney function, etc, etc. So there's a long list that is deepening and we'll build out a catalog to be able to work on this simple analyzer. This is for traditional OTC over the counter environments as well as CLIA waived environments. We will bring in significant value adds go well beyond just the blood test itself. We're going to provide great support to take action if someone sees a number they don't like we will be able to connect people to a physician or clinician so they can have the conversation and take further action as necessary. We will also curate educational partnerships to help inform those that want to know more data analytics will become a foundation of our company as well. And with that, we will be building predictive analysis as you Trend Track every single blood test that becomes a valuable valuable data point to give you the integrated view of your health. We will do this at an individual level. And over time. As systems evolve. We can do this at a broader population health level itself. We will also stay close to our customers engage them heavily in our future product development offerings. To underscore the technical foundations of our intellectual property of our company What we're focusing on in the first generation of the analyzer is, in fact, the plasma. So we separate plasma from whole blood from the two drops of whole blood. From the plasma separated we can, there's a significant range, there's dozens and dozens of analytes that can be measured from proteins to lipids, electrolytes, etc. Significant range of possibilities here. Again, this is an electro chemistry based approach, we have an EC methods are known to have low unit costs, rapid analytical response, low detection limits, they're very sensitive and very accurate. We have a significant intellectual property portfolio also, that has evolved itself. We've got provisionals in place, we have protections around the plasma and quite a range that's going to block and protect our the value of the company from the from the competitive dynamic itself. Significant range of technology milestones we have already been through prior years 2023 before was about creating the demonstration prototypes themselves. We've also gone through FDA pre submission, excellent conversations, they're they're very enthused and very supportive of this path. FDA knows this is the wave of the future to be able to enable technologies at home to empower people at home 2024 We are rapidly accelerating going through all this all the well known processes of optimizing engineering technology. So finalizing user input specifications, design specifications, preparing for manufacturing, accelerating our catalog itself and moving mid 2024 into formal and final verification and validation testing in preparation for scale manufacturing in 2025 2025, will be all about the formal and final FDA submissions for our first tests themselves. And as soon as we have approval, then we'll move to begin sales in 2025. Acceleration is rapidly underway. The sales model approach we all know this, the concept of razor razor blade, we have the disposables, which are the tests the collection component, the kit itself, that's the disposables, and then there's the analyzer, the analyzer is the one time purchase, about half the price of a cell phone itself, the analyzer will last for about four years approximately the disposables again, at one time, use very high margins on those. Again, if we can actually secure subscription based models, we anticipate doing that and offering that if people are willing to sign up, I'd love to give the analyzer to people. Again, this is not just for individuals at home, but this is also for CLIA waived environments itself. Significant go to market planning is underway again, and we have to do this for each and every test that we intend to offer. This is everything from the traditional Tam, Sam some approach on market sizing, we need to know consumer behaviors, the payment reimbursement models, the direct to consumer as well as the channel partner models, the competitive pricing and FDA strategy. This activity is well well underway for every single test that we intend to offer on the platform. With respect to the competitive dynamic, in this blood testing round, there are three major categories. There's dried blood spot companies, solo at home tests, and traditional labs. We are unique. This is a platform, it's your own lab at home that can trend track and monitor. This is going to be a very powerful offering an opportunity. Why us wide range of partners who Randox itself is a global multinational, 4 billion tests a year is our key partner or lead partner going to be a significant right in the de risk everything. We've got an exceptional team in place, including a board chair that has deep strategic multinational experience. Financial milestones we've raised we have cash in the bank. I'm in a bridge right now aiming for series A in mid 2024, and then sales in 2025. We invite you to our program to look into do a deep dive into our data room itself. The financials are very aggressive, but the partners we have including the multinational Randox we fully believe we can do this. So it's it's going to be an excellent ride. So many reasons to invest. We've de risked significantly, that technology is there. The final versions will be coming out this year, exceptional board chair who is the General Manager of Abbott, the president of Becton, Dickinson, as well as the president of Philips healthcare. We've got incredible Advisory Board, exceptional technology partners that are driving our team and driving the product forward. And also a key final point there is no blackbox. For those who want to look we'll share everything so you know that this is real. And Martin gurbin, CEO of air technologies, thank you for your time Hi