Patrick Anquetil Presents Portal Instruments at LSI USA '23

Transcription

Patrick Anquetil  0:05  

Good morning. I'm Patrick Anquetil, Founder CEO of Porter Instruments, I would love to talk to you this morning about needle free injections. If you are a patient on a biologic, who's got a chronic disease, say like, no problem that's right is, or even diabetes, you pretty much need to self inject for the rest of your life. And injection is still a major pain point for patients. And I'm sure everyone in this room probably doesn't like needles and syringes at all. We've been started about 10 years ago, our business model actually is not to sell to patients directly, but to do deals with pharmaceutical companies to enhance their medicines. So so creative partnerships, we're able to combine our device with their drug and create unusual drug device combination products. So where we are now in our journey, we've we're preparing for a 510 K clearance later this year, and we're looking for investors to carry us through a CVC. From clearance to to market launch. We've got an amazing team, really, sort of students of the field of drug delivery winner how our chief business officer was actually in charge of putting on a market some very successful drug device combination products like trulicity, Tolles, and semaglutide. We've also got Ben CL Yazzie, just to name a few, who basically worked with Amgen, to do the device to to, to deliver Repatha Repatha, the PCS canine therapy, and what's unusual about us is that we've also got a tremendous, broad IP. And we've backed basically our technology with numerous studies, either alone or together with partners, like a few of them that you can see on the slide over there. So drug delivery still remains a challenge. Interestingly, from a pharmaceutical point of view, the drug is always the star who cares for the patients basically does the injections and how they get basically the drug into their bodies. As I mentioned, no one likes Nealon syringes. It's really in terms of patient experience, probably the most unpleasant thing that one can do the broader issues to at the drug development level, where some assets may show great, great potential pre clinically, but are not tuned to the device to inject them and as such get dropped very early on. So that you actually is a missed opportunity that we think we can address and finally, as more and more therapies basically moved from small molecules into biologics, where for Biologics mostly at this time you need to do an injection. And there is this challenge that more and more waste is basically created by by those Nealon syringes. And there's also a force area of interest, which is the area of biosimilars. I'm sure some of you have read this article from the New York Times a few a few weeks ago. This is massive opportunity as hugely successful therapies like HUMIRA for example, so different from branded product into biosimilars where, if you're in that kind of in that train, it's it's really bloody out there. This is data that came from a report from from Amgen that Amgen publishes every year looking at the field of biosimilars in, in solid lines, you have the branded products and then in the dashed lines, you have the biosimilars and you can eyeball it very quickly that after a year, the value of those medicines basically dropped by half. And as more and more biosimilars basically go on the market, it's basically a race to the bottom. Today, there are about nine approved biosimilars for HUMIRA and other five that are going through clearances as we speak, by the next half of this year, will start basically that market unfold, we think we can actually bring a difference in the field by having a device that's differentiated and really allows you to, perhaps no shield your franchise from from existing biosimilars. Or, if you're a biosimilar you can differentiate against all the other two products on entering the market. So how do we do this? Our technology works around a so called jet injection technology. It's actually an old principle you compress the drug, you create a very fine jet with the drug. The jet size is much smaller than an eland syringe, and then to speed up the jet is extremely fast. It's about the speed of an airliner. And so the patient gets an injection, that typically would take a few seconds, he or she gets this in a few in a few fraction of a second. So extremely, extremely fast. And the business model is to partner with pharma, around three value proposition number one, straight differentiation, we're the only company that can do actually, that type of injections. If you partner with us, we can do an exclusive deal, you'd be the only one in the market having access to that technology, we can also expand your market in that there are patients who will refuse the needle based therapy, the moment they the moment they hear it. In some geographies, like Japan, for example, that can be 50% of your patient population just doesn't want to deal with any needles at all. And finally, this device is also connected. So you can imagine how we could build in some form of recursive treatment management, together with a device is super, super easy to use and patient preferred. That too, will keep people longer on treatment, and allow to create more value for offenses within Pharma. And so here's a graphically you could see how we can take your typical biotech franchise a few billion dollars, instead of expanded basically, basically from them. So this is the system, it's got three components, we've got a reusable device hybrid, hybrid, actually right here, happy to run a demo, actually off site, if you like, then we've got the single use disposable cartridge just looks like a syringe. But if you open it up your series, no needle actually at all. And then we've got the the digital experience for the treatment, where basically we can interact with the patient, and transfer the data to the care team as the patient basically wishes. So here you can see from a size perspective, what it looks like. You can see also here how it works. There's a cartridge door that opens, put the cartridge and close the door, inject and and the spent cartridge can be sewn in the trash, there's really no headaches into thinking about you know where to put the Nealon syringe and you put it into stuffs disposal, you just toss it in the trash and so on. All this is basically taking care of them. And we believe interestingly in particular, for those biologics that require device typically for an injection, the physics around it is that biologics typically a quite viscous, viscosity also changes with temperature, patients don't have enough force enough time to actually use an eland syringe themselves, they need some form of device. Those devices are so called Auto injectors, they like epi pens, those Believe it or not get tossed after every injection, it makes no sense to connect those. On the other hand, a reusable device in one particular in our case, that's computer control can be easily connected to to the cloud and transfer information around the treatment and how well the patient is doing to the entire care team. And by the way, this can happen in real time, which we think you know, in terms of looking at, you know, particular territory, in the context of pharma sales could be actually quite, quite transformative. So the first question we get was, you know, do actually patients want this yes or no. When we asked patients here, this was done with patients suffering from atopic dermatitis. 200 of them over 80% say, oh, yeah, no, this was really interesting. Would love to try it. More interestingly, two thirds of those patients were actually willing to change medicine if a different medicine was available only in this device as well. So huge opportunity that you the next question we get as Gina what is it? What does it feel like? No, does it hurt? We're very data driven, you can actually measure sensation. We are about half the sensation of a typical Elan syringe. So let's image will be 20 on a zero to 100 scale. 100 worst possible, worst possible pain, zero, no pain. 20 is typically when you learn some injuries, and we're about 10 on that zero to 200 scale. And we've done multiple studies with patients on that. So again, our business model is to partner with pharma. We will do creative deals. You're basically typical biotech license with upfront payments, milestones, and royalties, actually, as well on the drug device combination sales. What's unusual again about about us is that we medical device was actually pharma like revenues. If you if you look at our revenue, we've done two deals to date. We're looking to do more. And as I mentioned, we're looking to actually clear the device, specifically, alone, actually, at the end of this year, looking for investors to take us through a series B Series C. We've raised about $50 million worth of capital at this time. So the NDB, about 40 plus million dollars in revenues through partnerships. We're looking for the next tranche to basically take us to the market. Thank you very much. My email address is on this slide. Feel free to email me and I look ordering from you bye bye