Yvonne Bokelman Presents Alyve Medical at LSI USA '23

Transcription

Yvonne Bokelman  0:05  

Good morning. I'm Yvonne Bokelman, CEO of Alyve Medical, I'm guessing many of you out there have shoulder pain, maybe you've had shoulder surgery, or you certainly know someone who has. Shoulder pain is common. It's costly, and it's the third most prevalent reason that individuals seek health care treatment for musculoskeletal ailments. At Alyve medical, we want to really change that paradigm of musculoskeletal treatment. And in doing so, increased functional and mobility for anyone with shoulder issues, be it prehab rehab, or maybe not even a surgical candidate. In addition to solving for the shoulder issues, we have three other musculoskeletal problems we're solving today, there are no therapies or devices that really retrain the brain or cause that neuroplastic effect. And that's really what allows for the optimal restoration of movement and the sustained long term outcomes. Additionally, healthcare providers have a really challenging time, assessing motion patterns and orthopedic outcomes in an objective manner. And lastly, 75% of patients don't comply with prescribed physical therapy, it costs the healthcare system a lot of money. And in orthopedics, which has exponential growth, we're obligated to try to deal with that issue. So to live medical, we have two products that we think deal with all of those problems. The first is our therapeutic product called neuro line system s, the s for shoulder. And you can see in the picture, the gentleman who has the device on his arm, as well as the companion tablet. And with that you get tri modal biofeedback, which really addresses that compliance problem that I mentioned. But what's most significant is the fact that we have a patented algorithm that offers motion activated stimulation. And that is a real difference that no other product on the market has today. If you think about stimulation devices that have intensity pre programmed and are time based. This is nothing like that This device allows for dynamic, personalized interaction while doing a course of exercises with your physical therapy. Our second product is a diagnostic it's called show motion. Essentially, our customers refer to it as a gait lab in the box. It really assesses joint motion abnormality or malady within five to 10 minutes. It provides an instant graphic display that allows a healthcare provider to take action, and it's mobile and can be used anywhere. This is just a quick look at the devices everyone in this picture has on the neural line device you see the wearable on their arm, there are two electrodes that are attached to the muscles and for the pathology being treated. The gentleman on the right has the show motion on you can see the sensors on his scapula. So doing baseline treatment and then monitoring after his neural line treatment. I want to show you though inaction with a healthcare individual. This is a warehouse worker who had an injury sustained a chair he had surgery, surgery didn't do him the way he wanted to be done. So he when I show you this 15 second video, you're gonna see him try to do an arm race, you're going to see him subblocks, you're going to see the pain, and then the first treatment that he has with Neuralign. It's a little painful to kind of watch. This is what we see repeatedly the product has its roots in instability. And so individuals who have any subluxation who have any instability almost instantly on using the device, they see immediate improvement. And it causes again, that neuroplastic effect that will last them for the duration. So we know this works. This is clear to the drop the mic slide when I present to physicians. This isn't a chart from an independent randomized control trial multicenter study done in Europe. And it compared what we consider the gold standard six weeks of physical therapy to six weeks of physical therapy using Neuralign. If you look at the dark blue line at the top, you will see that as the neural line, physical therapy combination, and at the red arrow on the left is when the six weeks of therapy stops. And again, you see the patients continue to improve this is statistically significant improvement over physical therapy, those patients continue to improve for six for six months. And then that improvement carries out for 12 months, which was the length of this study. If you contrast that to the Gold Line, that is physical therapy alone. And what happens when you stop physical therapy, patients decline no neuroplastic effect has been induced and that's how they remain. Kind of the proof in the pudding in this data was the light blue line in the middle which allowed patients at three months to crossover repeat physical therapy with neural line and you can see again, they have the level of improvement not as ideal as if they had started, but they still improve and again statistically significant improvement over physical therapy alone. The market opportunity for us is huge. Draw your attention to the 8% CAGR in the orthopedic shoulder. It's one of the highest in the orthopedic sub specialties. The tam globally is about $12 billion, took it down to a Psalm of about 500 million Over the next few years, in terms of competition, we really think our competition is changing that thinking around just physical therapy alone. So that's the gold standard. There certainly are remote physical therapy products. There are other stimulation products. We don't believe any of them compare. None of them are exclusively focused on shoulder. None offer tri modal biofeedback, and none have the motion activated stimulation. Our business model is to talk with the orthopedic surgeons who immediately get this they want it for their patients, their facility or peachy clinic is the economic buyer for our product. We are on the market. Our first year on the market we was in 2022, we achieved about 600,000 in global revenue. We also at the end of the year employed a rental model to allow for recurring revenue now as well as more traction with patients. On this chart, I'll just draw your attention to what's circled in the red. We've had such success with this product that physicians have come to us and said we really need this in the knee. Certainly the shoulder it's the most complex joint it has the most range of motion knee is obviously a much bigger market. We've developed the prototype, we've begun the studies and the regulatory pathway, certainly in the US is pretty straightforward. So we see this product being on the market by the end of this year. We have traction with over 250 clinics at the end of 2022. We're using neural line around the globe. We have IP in the US multiple countries in the EU and Japan. We also have regulatory clearance with a CE marking FDA and TGA for Australia. Up at the top right you can see just a couple of the US customers that we have names that you'll recognize Mayo Clinic Johns Hopkins two lane, Florida orthopaedic Institute, etc. We did the 600,000 and revenue as I mentioned, we expect to continue to accelerate our revenue and become profitable next year in 2024. We think we exit pretty quickly I come from big ortho we know they want to own the continuum of care they want to continue to access innovative technologies. Orthopedics has been really ripe for m&a activity. I included just a couple of examples. There were 21 deals done over the course of last year, ranging from 20 million to a billion. So I think we have a pretty decent exit opportunity with mid chair or larger orthopedics. We've raised 1.7 million to date through a seed one and partial c two you can see we have an open seed to convertible note currently targeting at $2 million. We've raised 650 of that. That's really our bridge for the remainder of 2023. And while we raise a 15 million series A you can see how we plan to spend the money for us it'll be really targeted at sales and marketing and continuing on our r&d efforts. I'm really excited about the team. I came most recently from 11 years at Zimmer Biomet large musculoskeletal company as president and GM. I brought over another individual with me from Zimmer Biomet brought another colleague who were We were together at Medtronic. Prior to that. This team has done over seven exits raised over $100 million and done 16 acquisitions combined. I have a lot of experience that I know will lead us successfully to to where we need to be. That's all for me. Thank you for your time. Appreciate it.