Stuart Mitchell Presents Novuson at LSI Europe '23

Transcription

Stuart Mitchell  0:04  
Thank you have a little bit of a cold so I'm up here with a handheld mic, so I won't cough in your guys's ears. So I'm CEO and founder and CEO of Novuson where we are clearing the way for safer surgeries by literally eliminating the smoke, making surgeries faster and more efficient without compromising the health and safety of the patients or the healthcare workers. We've raised about $10 million to date, we have US and international patents, and we are poised to disrupt the surgical energy market. Our management team consists of business leaders, entrepreneurs, product commercialization, entrepreneurs with prior exits, and very successful people. Our medical advisory board consists of surgeons who specialize in robotic and other social surgical specialties that require smaller, safer devices. And as you can see, they're just as passionate about our technology as we are. I have my PhD in bioengineering. I've collaborated for over 20 years with a surgeons, corporations, government agencies, working on technologies to make better ways of treating diseases. We do a lot of animal and bench studies and routinely, in our studies at the University of Washington while we're using the current technologies on the market, our colleagues around us would come and complain about the smoke and the smell from the devices we're using, and discussing with my collaborators that are working with me, you know, they'd kind of laugh and say, Yeah, you know, this always happens. This is what we see these devices, they burn in they charged tissue, they cause smoke. The smoke affects not only their lives, but the lives of the patients. And it's not really just about the passive smoke, it's about obscuring the surgeons field of vision. If you put this a little bit in perspective, so the current technologies burn and char tissue, which generates smoke. The image on the left here is what you see what the surgeon see during a laparoscopic procedure. Putting in perspective, about a third of all surgeries have complications in the US. 50% of them are considered avoidable, three quarters of which are due to technical errors. So when you think about it, if a surgeon can't really see what they're doing, and they have this hot device that's burning and charging Titian, the chance of errors is actually increased many fold just because of those conditions itself. Not only is the smoke a problem, but it's a carcinogenic. The It's reported that the surgical smoke is equivalent to smoking 30 unfiltered cigarettes. So not only does the smoke cause problems, but with vision. It's also it's hazardous for their health. So we figured that, you know, we could actually improve this making a technology that doesn't generate smoke. And really, because there's no reason why a surgeon should have to risk their life to save a life. And this is really why we created an oversight. So novice on makes an alternative energy platform we do things a little different. We use ultrasound energy to weld the tissue from the inside out. And we use ultrasound to cut the tissue. Ultrasound is the most efficient way of getting energy into tissue, as opposed to radiofrequency which passes electricity through the body to cauterize the tissue, or it's harmonic devices which use friction to burn to the tissue. This is Nova science technology being used in the animal model. As you can see, we're not generating any smoke, we're not burning tissue, we're not trying tissue, it's all completely clear. Those smoke very precise surgeries. The benefits are really clear we can be used in any on any any surgery that the current technologies can be used on. were effective. We're the only device that can be used under complete liquid submersion, even in blood. We're smaller in diameter. We're precise, we have less thermal spread. We can be used on any surgical platform and our full range of procedures similar to what I've listed here. And the advantages are really clear. So these are thermal images of our technology being used on the bench compared to the other technologies being used on the bench. We are a quarter of the temperature of the number one device on the market, which is the harmonic ace We have a cooler tip, which is why we don't burn scar tissue. And we have minimal thermal damage which makes us more precise. We have four working prototypes, all done in proof of concept studies, we're in the process of trying to take one of them to market. We've done over 1000 studies in animals and on the bench, many of them performed by surgeons. Were on the last step to part a commercial occasion commercialization that's getting our our 510K for our first device. That's pending validation verification studies. We have 16 patents, eight us to international six pending. We have pre commercialization revenue by integrating our technology into a surgical robotic solution raised about $10 million in funding to date a third of that was non dilutive. We have two strategic investors and we have one post commercialization customer just waiting for us to get to the market to $6.4 billion global total addressable market. It's 410 million surgical procedures foreign and 5000 surgical suites. Initially, we're focusing on the US market which is 164 million procedures 35,000 surgical suites, which is a $2.6 billion a month for Nova song. We have two revenue streams. One is service revenue for r&d collaborations, integrating Novus on to energy technology into Earth's systems like robotic surgical systems. These start out as service contracts, we developed technology. As the technology matures, they want to use it, we license it, and we get royalties from that. At Novuson we build laparoscopic instruments. We're in the process of looking for a contract manufacturer to build our devices for us. Once we have those devices built we finished the regulatory filing and will do direct sales into ambulatory surgical centers. Using this business model is two revenue streams we project that we will reach 31 million in revenue by 2026. This is an extremely conservative estimate, less than 1% of the US surgical procedures and less than 1% of us surgical suites. We do have a preferred equity around open right now. This is to raise funding to finalize our validation verification studies for our three millimeter mini laparoscopic instrument, which will be the first and only sealer divider on the market that is three millimeters in diameter. We have a lot of potential. We baked the laparoscopic devices at novice on we've already started the robotics collaboration. We can go into any type of surgical platform laparoscopic assist orthopedic endoscopic, which makes it pretty much unlimited for us in the $6.4 billion market. And quick summary surgical smoke is a problem causes a lot of complications. Lack of vision for the surgeons, our devices don't generate smoke. We're precise precisely Well, the tissue with ultrasound. Were the only three millimeter diameter sealer provider we have strategic investors. We have pre commercialization revenue, raise three and a quarter million in non diluted funding. We have a strong team and a really good advisory board. So thank you please join me in helping make surgery safer