Thomas Nichols, Pretika MedTech - AI-powered Connected Wound Care Technology | LSI USA '24

Thomas Nichols  0:04  
At Pretika medtech, the future of wound care is connected and data driven to improve outcomes and lower cost of health care. Pratika delivers, embedded within dressings, a incredible technology that allows clinicians to monitor the healing process of acute and chronic wounds without having to remove the dressings. They can monitor remotely. The current problem is that clinicians cannot see within the wound dressings. They don't know what's underneath, what serious issues are hidden in our incredible technology within healthcare, we still have high incidence rates of infection, high incidence rate of sepsis, and an incredible high incidence rate of negative outcomes that can all be discovered with this technology, our solution is embedded connected wound care technology. It's embedded within the dressing, and it's a device that is synced right with that patient's MRN and it allows the images to go right through the cloud into that patient's medical record, so clinicians can monitor the healing process. Our technology is the first technology that's non invasive, that can monitor the healing process underneath the dressings and to improve outcomes. Key is it's a per patient per episode, type of device, so it's disposable after the patient is healed. It is a high resolution optics, and it adapts within current wound care dressing methods. It has a full spectrum of LEDs to illuminate and a poly lithium or battery to provide the power. And when we talk about the power consumption, there are 50 million surgeries performed annually. The average weeks to heal is 14 between acute and chronic wounds, and the average size of wounds is six centimeters. And our technology, we provide a fuel view of eight centimeters. We provide a battery technology that can last up to 14 weeks and beyond. And we take full images of that healing area, and then we take it right through into the cloud where clinicians can diagnose and see exactly where that healing process is to capture complications before they become serious. And when we look at this connectivity, we also have aI built within our software in the Cloud that runs each image through a database or an API of anomalies, and if it captures one, it alerts the clinicians. The clinicians can program the device to the frequency they want to see image on based upon the patient, the type of surgery or wound and the medications that they are on or go in in real time and look at that healing process we're a standout in the competitive landscape, and that's because we're the only remote wound care monitoring device that doesn't require the removal of dressings. A significant breakthrough. It's a per episode, per treatment of care, reimbursement model. And what's incredible is the FDA, they have placed this technology as a class two device under radiology LLC, which means that this non invasive technology, it is in the same category as MRI and CAT scans. And so from that standpoint, you have an incredible array of reimbursement coatings. So it's just not the device. It's the clinician's time to review the device. It's the clinician's time to communicate with the patient. It's an incredible business model where clinicians make money. When we look at the overall size of the market potential on the global front, it's $4.74 billion here in the US digital monitoring market, it's at 2.7 and we see connected, embedded wound care technology actually reaching within a five year period of time at that billion dollar mark, but within the short term, when we launch in 2026 we have a runway to achieve $480 million in revenue, because there are 15 million surgeries performed annually, and at a 20% rate for the types of wounds that this. Device is fitted for and strategic for it's a great return on the investment, and it's a great return on patient care. We've achieved incredible milestones. We're already in 2024 and we have achieved FDA pathway for clearance, an IRB. We have an incredible five year financial projection that we can achieve. We have a great team that includes talaharkei on our clinical side, Samer on our technology side, and importantly, great industry partners such as RQM Plus, with Allison Komiyama and Daniel lace on the reimbursement coding side, but also in the cloud. Really significant. We have industry partners such as Galen data and AWS health, our legal team. It's Kenobi Martin's, and they've been able to incredibly develop a new technology within the wound care category for us. So we have sustainable competitive advantage with IP in the form of 17 patents in the device and the computer related side, which deals with IP, deals with the software in the Cloud. In terms of regulatory as I mentioned, we're a class two device under radiology, a great place to be when you look at healthcare and reimbursements to the clinicians. We've already accomplished an IRB through Salus IRB out of Austin, Texas. So we're entering adoption trials for the FDA, with hospitals having an IRB and having a platform and a pathway for 510, K approval. Our ask is $1 million we already have a founder's contribution of $682,000 at a Series A to allow us this last 24 month runway to achieve all the milestones for commercialization. Connected wound care technology. It's the first and only embedded wound care monitoring solution to provide clinicians with remote, digital wound care management for acute and chronic wounds. It improves patient comfort and care. It improves clinical outcomes and lowers cost of care for a $1 million ask. It's an incredible technology that's already been de risk and has a short one right to commercialization. Thank you very much. Applause.