Robert Wilson, EGG Medical - Next Generation Radiation Protection Devices | LSI USA '24

Robert Wilson  0:03  
Hi, I'm Bob Wilson. I'm the CEO of egg medical, and I'm going to tell you about a market which you probably have never thought about. But first, you do know all of these. In the last 30 years, there's been a revolution in minimally invasive treatment and implants. You can see all of them here, spanning medicine from cardiology to orthopedic surgery to neuro intervention. It's really been a remarkable accomplishment of humankind for this, but they all have one thing in common, and that is that they rely on X ray fluoroscopic imaging to do the job. So there's a problem with X ray fluoroscopic imaging, and this is the one that most people, unless you're in the profession, don't know about. Everyone in the room where somebody's having a stent put in or some kind of fluoroscopically guided procedure, everyone in the room is radiated by the X rays that are coming off the patient. Now it's surprising, and what's surprising to me, can I walk over here to the this is the x ray tube housing that creates the X ray the beam comes up through the patient, hits the detector up there that makes the image over on the screen over there. Only 2% of what comes out of that and hits that table actually makes it to the detector. The other 98% is either reflected by the patient or absorbed by the patient. So that's an enormous amount of X ray, and that means that every doctor, every nurse, every technician, is being radiated every day that they're in that laboratory. So you might say, well, you know, geez. I mean, is this really a big problem? There must be some kind of regulation around this that, you know, that controls this. Well, you know, it's surprising. The International Atomic Energy Agency periodically surveys professions for radiation exposure. Interventional physicians have the highest radiation exposure of any profession worldwide, two and a half times out of a nuclear power plant worker, which is the number two. And you might say, well, you know, okay, so it doesn't have a health effect. Well, you know, if you're getting radiated every day for 30 years, you have to wait 30 years to find out what happens. And it's been 30 years now, and we know what happens. The incidence of cataracts is about six fold. The general population. The incidence cancer is threefold. The general population, mainly brain, hematologic and thyroid cancers, and the cardiovascular risk is about twofold, and that's because the cardiovascular system is very sensitive to the effects of radiation on the endothelium. So I know you're thinking, but gosh, aren't these guys? We're in a lead apron already. This must be taken care of. Well, it turns out lead aprons only cover a portion of the body. They don't cover a lot of very important parts of the body. Interestingly, they transmit up to 19% of the X rays. So you should think of a lead apron as a pair of sunglasses. They're not a shield, they're just a filter. And then finally, these aprons are heavy, eight to 10 pounds. People wearing them every day. By the time they get to be 50 or 60, a lot of people have serious orthopedic problems, and a number of interventional physicians just retire at the age of 55, or 60 because of these problems. So, you know, I've told you a lot of information. I think one thing you probably should do now is hear a little bit from some KOLs in the US and in the in the UK. I don't think any Interventional Cardiologist doesn't sometimes Ignite. Lean back and think about what would happen if they get a glioblastoma of the brain. That's, I would say, every Interventional Cardiologist fear. A year later, in 2019 I was diagnosed with lymphoma. I sort of looked in the mirror one day and thought, there's a bit of a spot on my nose. And I thought, well, just a spot. Then I got a call to say, Actually you've got a highly malignant, highly invasive basal cell carcinoma with very nasty features, and you're going to need to have it operated on. You. I sorry I haven't really spoken about it like this, but it was, you can see, you know it, it was really difficult time. By that stage, I had sort of decided I was going to give up cardiology. We're programmed, in a strange way, to react to the acute threat. You know, everything that we do in terms of disease process and behavior is programmed from an evolutionary perspective. I don't think I should be making those choices. It's my health or the patient's health. So the mission of egg medical is to eliminate the risk of scatter radiation exposure for hospital personnel, doctors, nurses, technicians, who use X ray imaging guided procedures. And you know, it's a lot of labs. It's a lot of places in the hospital, cardiac cath labs, interventional radiology labs, vascular surgery, orthopedics, C. Arm suites for pulmonary for urologic procedures. And it turns out that it's over 25,000 labs that use X ray guidance. And that means that there's over $2 billion market for radiation protection in that in that area, an unappreciated market. Our core invention is the egg nest, which is an integrated radiation shielding system and a disposable for hospital X ray labs in operating rooms. You can see it here. Basically, we replaced the mattress on an x ray table with a carbon fiber internal shielded shell with the mattress inside. From that we hang flex shields that go below the x ray to move with the X ray system so that the doesn't get in the way of the workflow, but yet provides protection below and flip shields, which flip up and down for patient loading. It fits all tables, and importantly, it reduces scatter radiation for everyone around the table by about 90% in clinical trials, it's a 91% reduction in scatter radiation around the table a little more, some places, a little less. Others, up to 97% in certain positions, but a significant reduction. There are minimal regulatory hurdles. It's a class one device the United States, it's a class one device under the new MDR. In Europe, we're ISO 1345, certified. Of course, it's highly protected. Nine issued US patents, eight pending. And of course, many foreign filings, we launched a product in 2019 q4 not a great time to launch a product. If we'd known a pandemic was coming three months later, we might have delayed that. But despite that, we weathered the pandemic, and we actually sold through the pandemic. In 2022 we raised $13 million in funds from tvm capital. We created a direct sales team for the US. We created an OUs distribution system through our distributor network, which we support from Amsterdam, where we have logistics support and a clinical support, as well as in the UAE. And now, in 2024 we're launching what we call the eggdesk complete, which has 99% radiation protection. I'll show that to you in just one second here. We've had great commercial traction. We're over 100 labs the United States, including some of the most prestigious labs, and our new product, which we're very excited about, which actually I think they're demoing up in Kaiser in San Francisco right now, blocks more than 99% of the radiation, 99.4% it reduces the exposure to almost zero. It allows the operator to remove their lead apron, if they can do so from a jurisdictional standpoint, and we do it by having this unique mounted articulating shield, which you can see on the top of the patient there, that allows the shield to bend, and it makes it adaptable to many specialties. And there's an additional shielding component that provides additional shielding. Now you can see, here's the maximum dose that's allowable in the United States for an annual case. This dose limit was set in 1957 and by the way, all the data I showed you about cancer, that's with that dose limit using standard shielding in the US, the average practitioner gets 3500 millirem per year. 5000 is the red limit. But it turns out, of course, there's a big variance in that. And there are some people that, in fact, go over that limit. About 10% of people go over their badges every year, using the egg nest complete system, using 400 cases per year, they're not even going to hardly be getting what is background radiation from cosmic rays and radon in this country. So a significant and transformative advance. Our strategic position is very simple. It's a very large, unappreciated, over $2 billion market. There's minimal regulation. The product platform is developed, tested, launched. It's transformative. In the procedural environment, we have strong sales adoption and very good market pull right now. It's very attractive ASPs and margins, which I have talked about before, but it's true and strong pipeline to support future sales. Thank you very much. Applause.