Ziad Rouag, BIOMODEX - 3D Printing Based Training | LSI Europe '22

Transcription

Ziad Rouag  0:03  

Good morning, everyone. I'm here to login to see you have BioModex. What is the purpose of biometrics? Well, our goal is quite simple. We want to truly revolutionize patient safety and outcomes, through advanced physician training and case specific rehearsals. My own background, 25 years in the medical device industry, mainly in California originally working for the larger companies, the guidance, Abbott's and so on. And then beyond that, several startups with multiple acquisitions. I am a clinical guy by background, ran a lot of trials helped develop a lot of medical devices. And we had a lot of training programs. Hence, the interest in BioModex originally when I was approached by the company a few years ago. So whose BioModex? Well, we look at ourselves that digital health digital health company, we are originally based in Paris. We are growing rapidly in the US. So we set up shop a couple of years ago in Boston to be able to meet our client needs in Boston. We do both training and patient specific rehearsal. Our solution is truly first of ICANN, we're quite unique. The systems that we sell, which are bio haptic simulators are very light, very portable, all designed for the industry and physicians systems are easily movable. And we are of course telemedicine ready. So our Boston facility and our Paris facility. Why do we do what we do? Well, we live in a world of outcomes. There's a lot of level of competition between hospitals, referral parents are really important for revenue. And patients are quite selective. So outcomes are quite critical to hospitals and to physicians. And hospitals do target and do measure their outcome, their service, quality and costs. Today, medical errors are one of the major leading causes of death and morbidity in the US and worldwide. And medical errors have many, many options, obviously, surgical diagnostic and device failures. We as BioModex, focus on two types of medical errors, lack of adequate training and lack of patient specific rehearsal. what's available out there, and that's really why I took the job initially, there was really true no true real haptic models that people can use our cadavers. Obviously, it has its limitations. There are animal studies, a lot of bioethics around that silicone models nowadays are have become quite archaic, and are not representative of tissue modeling, and virtual models, which are actually quite, quite good today, but however, do not provide any haptics which physicians really need. So to develop a real true haptics system you need for surgical simulation, a component which is haptics, we primarily work in transcatheter technologies. So those particular technologies need the physician to feel exactly what's happening in the body when they're going in with catheters, hence the fact haptic need. Additionally, you need accurate anatomies. And complex, riveting most transcatheter procedures include a combination of fluoro, TE, and now increasingly ice. So biomedics today is a unique digital solution that provides actually the need and covers all of those previous elements, the haptic component, the true anatomy, anatomy, and all the navigation and imaging elements. How do we do this? Well, we are leveraging three core proprietary technologies, something called in vivo tech, which is an algorithm that allows us to mix materials in a way to mimic actual tissue, we can represent valves, calcium, soft tissue, whatever is effectively needed for a particular anatomy, we have something called Eco tech, which allows us to incorporate in our models, echogenic properties and increasingly ice technology properties. And we have a variety of blood seems to mimic actually blood viscosity flows, electrolytic properties. These are our three core technologies that we incorporate in all our bio haptics simulators. So at the end of the day, we end up with something called holistic training and patient specific rehearsal solution. We have the anatomical component, XY and Z, traditional elements, fourth dimension for us as a haptic feedback and fluid dynamics, which come with the station in the model. And of course, we have a fifth dimension, which is the fluoroscopic and echogenicity, which represents the imaging components. So these three elements gives us effectively what we call our five dimensions to develop realistic bio haptic simulators. So we go from 3d printing, we've set up our systems in such a way in terms of the sales world and I'll talk a little bit about this later. We are set up effectively to receive dye coms from our clients where their medical device companies or hospitals, and within just a few days, were able to deliver the cartridge. So they can actually use the cartridge either for training or for case specific rehearsal. Everything is done online. It's very easy. Think of us as the Amazon of the digital training. Today we have multiple products, we have actually structured strategize to company to be able to have a portfolio that is quite expensive. We focus on transcatheter and emerging high tech growth area in neurovascular. In structural heart and endovascular. We have a number of products that are already out there and selling are the ones here in in bold. On the neurovascular side, that was our first franchise. Now we're working on structural, we have two products out already. The other ones are all in advanced development. And we have triple A, and we are actually on Triple A and structural heart, already selling those products using our advanced prototypes. In terms of competition, we are quite unique in what we do. There's a number of companies that do 3d printing, obviously, stratus, materialize and others we actually use Stratasys technology, they're a partner of ours. For digital, we are not a digital simulation company. We believe that digital and bio haptic can be actually combined to get even better results. And of course, you will see some of these 3d printing in hospitals are quite localized and quite limited. From an exit perspective, the we function within the 3d printing world, the digital health world, there is many exit point, obviously private equity in terms of 3d printing, therapeutic metrics, which are our major clients today, imaging companies which control the CTS, the polymer companies that invest currently heavily in 3d printing machines and developing new polymers, the large trading companies that are out there, like CAE and others. And then, of course, the ongoing 3d companies, 3d printing companies today that effectively are selling. The equipment and machines are now looking for other modalities for applications. And of course, there's always the possibility of an IPO. We have a broad IP portfolio, we have three layers, we have a core technology, like I said earlier in vivo tech, Ecotec and Blitzen. We also have our core products, so we have IP and all of those. And then of course, we have actual processes that are proprietary to the company. During the market adoptions, we initiated our sales with selling primarily to med techs and robotics. We have contracts with many of the large strategics. Our next step is to move into credentialing teaching hospitals, for training purposes, and grow over time within those to move into case specific rehearsal beyond training. There are currently pathways to reimbursement working with our SNA there's coding, but it's not today, reimburse. And there is currently a bunch of efforts on going to seek some payment and reimbursement for case specific rehearsals in the US and also in Europe. We have been growing quite quite well, in 2019, to today, we've actually increased our sales by 10x. We expect to grow doubling every year for the next few years with 2026. We've maintained that order in 2021. And today 22. We think this is a quite large market by 26 will only be at about 10% penetration. So we expect substantial growth. Some numbers, how we've been growing gradually. So we were doing 36,000 in 2019 on a monthly basis. We are today a little closer to $300,000. 300,000 dollars a month as a company and growing our client base every day. We have a very good r&d pipeline. To illustrate, like I showed earlier all the different products that we have upcoming. So within the next six to 12 months, we would have launched all three franchises and have multiple products and multiple indications across neuro structural heart and endovascular. We've also been investing in publications today we have a number of peer reviewed articles published which case series and we continue to grow there. These are available on our website and our YouTube channel. And that data is beginning to demonstrate the value of our technology in terms of training physicians and getting better outcomes. And also in terms of case specifics. Our strategy is to move from case series to larger clinical trials to get us to a reimbursement how our today revenue is happening on it quite significantly just with the training models. So at the end of the day, what is our value proposition we believe this is a $2 billion opportunity. We have a razor razor blade model we sell stations and cartridges both our margins are quite high. We expect two to 3x annual growth we've been maintaining that for the last three years. Our systems are highly scalable, is 3d printing, plus CAD work. We have a very light sales footprint we sell to the med techs and we sell to hospitals. And most of the ordering is done via via internet through a bunch of portals. And for the training purpose aspects we actually are not regulated, which which is a little different. What you see here usually having spent most of my career developing medical devices. We have 19 million in from our French investors. We have 3.5 million from the French investment bank. We are today setting up a 5 million convertible note prior to our round B and we are looking to raise 20 million with round B for expansion in terms of manufacturing and commercialization. We are working with a bunch of distributors globally to really move the business to a different level. And of course finishing up our product portfolio and adding more products as clients come come in. We have significant demand for many other companies to build models for them. And we expect to be profitable by the end of 2024. Thank you