MediView | Mina Fahim, CEO & President

(Transcription)

Mina Fahim  0:04  

All right, so I know I'm standing between you and lunch. So thank you for sticking around. I actually love this position, because it means that whoever is still here actually wants to hear what we have to say. So thank you. It's a pleasure to be here. My name is Mina Fahim, CEO and President of Medi View. And we give clinicians X ray vision for minimally invasive procedures. So if you forget everything that I say, but an image is worth 10,000 words, and a hologram is worth even more than that. Remember this picture, X ray vision to very acute precision and accurate registration to drive a needle with? Where are we starting? Today, there are two paths for cancer patients that have soft tissue, liver, kidney, spleen cancer, on one path, you have open surgery, and potentially chemotherapy, which as we all know, are very invasive, and can be have a really poor quality of life, and have some risks associated with them. But today, that actually accounts for 76% of soft tissue cancers, land in this in this side, open, can't open surgery, with chemotherapy. There is another option, minimally invasive percutaneous, ablation and biopsy. But today, that only accounts for less than three out of every 10 patients. And if I had cancer, which God forbid, and I knew these two paths existed, and some actually don't even know it exists, I would love to go down the sunny path on the right, and hopefully not towards the clouds on the left. But there's limitations and current image guidance tools, prevent the clinician from having the best visualization. And so they say, Hey, I can't see where I'm going. And not just from the structures and the anatomy. But how do I know if I've killed all the cancer. And the peer review literature says, If you ablate correctly, and kill all that cancer, the chance of that cancer coming back is actually less than 15%. How and there's another area for the clinicians as well, is they're doing mental gymnastics, they're taking flat 2d images, flipping it in their brain, seeing what's in the patient, and then deciding how am I going to drive this needle through the stomach to a tumor and kill it, that's hard to do. You don't drive down the highway doing 80 like this. But that's how surgery is practice today. On top of that, the clinicians and I had I thought this was a typo. In the US alone, ergonomic injury accounts for $120 billion of economic impact in this country. So that does have a impact on how clinicians do their job when they go home at night, actually being able to have better quality of life as the clinician. And what if I got a phone a friend, that doesn't exist today at the point of care, and that's where many of us sit. Our vision is really to simplify, democratize and inform healthcare delivery. And how do we do that, with transformational X ray vision, we are the only company that we are aware of that our patent search found that can do registration of soft tissue to millimeter accuracy and precision. We have the ability, it says hey, what if that liver shifts a couple centimeters during the procedure, we have the ability to use live imaging to adjust the position of the hologram in real time. So we've accomplished live imaging registration. And what you'll see here is you have this ability to actually show whatever structures you want, when you want them. And this novel way of visualizing what we do gives clinician that power to say I have the visualization, I need to drive my needle intuitively, safely and efficiency to get to the target and make the ablation that I need. What you're seeing on the screen here is that integration of life imaging, where you have what we call a flashlight mode, meaning hey, I can peer into the body with my ultrasound underneath the skin. And you know what my learning curve of ultrasound just went way down, because now I understand what to do ultrasound looks like in 3d. And that is a very steep learning curve. These are three core competencies and the three pillars that we've started investing in is our intuitive X ray vision for surgical navigation and guidance that we just saw. remote collaboration at the point of care, meaning an on site practitioner, can phone a friend or a industry colleague to see through their eyes and not just see, but have voice, video and annotation capability, meaning I can drop an arrow in the physical world sitting at my computer and frigid Minnesota to the lucky clinician who practices in California. We are not an AI company but we have invested in data collection for evidence based insights. This is a space that can be informed with additional data and today we You invest in the ability to collect information that describes the relationship between anatomy, therapy, imaging and tool in the future, that patient's procedure will inform and help another patient down the road. So our journey portfolio, this is where we've started, it's called the XR 30. It's meant to help address that 100 and $20 billion problem of ergonomics, meaning I can take my medical imaging screen virtually, and put it anywhere I want in space, I can also phone a friend for remote collaboration. And that's where we've started improved ergonomics and simplified remote collaboration. The next two were we have a submission coming up this quarter. And that means only in a couple of weeks here around our holographic needle trajectory guidance, moving into the full holographic surgical navigation. And really, we're taking a minimally viable product approach because, hey, we're introducing a brand new way to practice. And we need to help ease the adoption. It's like if you took someone that only ever saw a rotary phone and gave them an iPhone 13 Max and said, Hey, try to figure out what this does. But we're not doing it alone. We have amazing clinical partners, where we've actually done 21 inhuman procedures under IRB. And we have the world's largest medical imaging company, as in GE Healthcare as a non exclusive strategic development partner with us, that allows us to tap into that imaging in real time. This was a quote from one of our key stakeholders at GE, that many of you solution is one of the most transformative innovations of medical imaging in the past 20 years. And really, what he was saying is this opens up and unlock the full potential of medical imaging that stuck on 2d, flat black and white screens today. And to help simplify what the clinician is trying to do. So we look at our market a couple of different ways. Obviously, the global market for image guided therapies is a $5.7 billion market for the image guidance tools. We look at it in the US the three areas that we're tackling first, are oncology, cardiac and orthopedic. But within that segment, we're starting out with imaging modalities that are primarily ultrasound, CT and fluoroscopy. That allows us that unique capability of integration. This is our incredible team. You know, this is a the management team, but we have a world class team from some of the world's largest and most recognized innovators, whether it's from Medtronic, Philips, GE, etc. That really make this possible for us day in and day out. And honestly, they make my job easy because of what honestly what they've developed. Where are we today, we've raised 14 and a half million dollars to date pre Series A, we have three issued patents, 11 provisionals, that are different parts of the process. We have feedback from over 400 clinicians, ongoing evaluations at Cleveland Clinic, Ohio State University and UNH to start demonstrating the ergonomic and targeting accuracy benefits of our system. We have that strategic development agreement with GE Healthcare to FDA submissions coming up this year. And as of two weeks ago, we posted our first revenue based on the XR 30 minimally viable products. We are officially launching our Series A looking forward to target closed in late q4, early q1 of 2023. And we really want to drive the clinical adoption of xr with the early in the early adopters and the innovators in image guided image guided therapies that really want to define and drive the clinical value of a solution like many of us, we're going to advance our portfolio using insights from a minimally viable product and sales pipeline. We also have companies asking us to build unique embodiments of our solution for their imaging and Therapy Solutions. Thank you and I hope to meet some of you in the breakout session. Let's build the clinical XR segment together. Appreciate it.