Stuart Mitchell, Novuson - Patented DTU Technology | LSI USA '24

Stuart Mitchell  0:00  
Stu. I'm Stu Mitchell, the CEO and founder of Novuson, where we are clearing the way for safer surgeries by literally eliminating the smoke, making surgery safer, more effective, more precise, without risking the health or safety of the patients or the healthcare team. We've raised about 10 million in funding to date. We have US and international patents, and we are poised to disrupt the medical device space. Have you ever wondered what goes on in the surgical suite during a surgical procedure? Did you know that, depending on the procedure, the surgical suite can be filled with smoke up here in the upper left hand corner, this is what you see where the surgeon sees when they're performing laparoscopic procedure with the current device, the surgical field is filled with smoke. The smoke is created because the devices burn in char tissue. This obscures the surgeon's field of view. So if we put this in perspective, about a third of all surgeries have complications. 50% of those are considered avoidable. Three quarters of those are due to technical errors. Complications cost the hospital system $215 billion a year. So if you stop and you think about it, if the surgeon can't always see what they're working on, the likelihood of error increases many fold. But there's more. The smokes are carcinogen. Surgical smoke is equivalent to smoking 30 unfiltered cigarettes in a day. Can you imagine the impact that has on the health of a surgeon over 1520, year career, not to mention the patients, we realized that there was something we could do to impact all surgeries, making them clearer, safer, more effective, because really, the surgeon shouldn't have to risk their life in order to save our lives. This is no response technology being used in an animal model. We do things a little different. We don't Burnage our tissue. We use ultrasound energy to completely cauterize the tissue, so we end up with a safer, clearer procedure. What differentiates no response. Technology from other technologies is we use ultrasound energy to weld the tissue from the inside out. We use ultrasound to cut the tissue, as opposed to radio frequency, which uses electricity passing through the patient's body to cauterize the tissue. They use a mechanical knife to cut it, or the harmonic devices, which essentially use mechanical friction to burn through the burn through the tissue. Our advantages are clear. We operate at about a quarter of the temperature of the number one device on the market. This is why we don't burn in char tissue. It's why we don't generate smoke. It's why we have less thermal damage than anything else on the market. We can be used in a variety of different surgical procedures to select the current devices on the market. What differentiates us here is that we can be used under complete fluid submission as well. So and blood saline doesn't matter. We're smaller in diameter, smallest device on the market, safer, no smoke, wide range of clinical applications. Our management team has experience in business, finance, product commercialization. We have entrepreneurs that have successfully exited businesses. Myself. I have a PhD in bioengineering. I've worked with government agencies, corporations and numerous surgeons in developing this technology, as well as other technologies. Our surgical advisors are surgeons in robotic and other surgical specialties that require a smaller, safer device. It's a $6.4 billion global total addressable market. Initially we're going to focus on the US market. It's 164 million procedures, 35,000 surgical suites, $2.6 billion segment for novice on we have two revenue streams. One is what we're currently achieving revenue on, and that's through strategic R and D to develop put our technology into other surgical applications, such as robotic surgical systems. These are collaborative R and D projects. Comes into service revenue with they like the technology. We turn it into a licensing agreement with royalties. Our other revenue theme is through the laparoscopic side. It's direct sales. Have contract manufacturers build our devices, then direct sales team go out to ambulatory surgical centers and sell them. With this model, we're projecting that we're going to raise 33 million by 2028, few of our highlights, we have four working prototypes. Types used in over 1000 studies, both on the bench and in animals, many of those are performed by surgeons. Pending our validation verification studies, we are ready for regulatory filing, which is the last step to commercialization. I have 16 patents. We have pre commercialization revenue, as I indicated, about 30% of our funding that to date is about is non dilutive from government grants. We have strategic investors. We have commercialization customers waiting for us. Couple of accolades, 2022 we are one of the five best medical device companies to watch. Just last year, Pepperdine University voted us as one of the most fundable companies. Our patents cover a complete array of our technology, basically building a mode around our technology. We have 10 patents issued, both US and international. We have six patents pending. We have a preferred equity round open. We're raising $3 million 12 million pre money on that. And this is really to take our first device, the three millimeter in diameter mini LS sealer divider, to market. It'll be the one and only three millimeter diameter sealer divider on the market. And this is just the beginning. It's unlimited potential in a $6.4 billion market for novas, we can be integrated into any surgical platform, endoscopic, orthopedic, laparoscopic assist, robotic, quick summary, surgical smoke is a main big problem novas technology solves the problem. We have strategic investors, we have pre commercialization revenue, and we have a very strong team. So thank you. Please join me in making surgery safer and more effective. Applause.