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introduction



•  proprietary*   evolution in sternal closure technology

•  conceived   by experts in sternal reconstruction

•  driven   by experienced medical device entrepreneurs

•  endorsed    by leading academic surgeons

•  a   Delaware corporation, self-funded since inception



                                     * multiple patent applications filed
our team


•  W.   Thomas McClellan, MD
  Harvard / Tufts / Duke/ Emory Plastic & Hand Surgery

•  Johnny   Chang, MD, MSME
  Brown Plastic Surgery & MIT Mechanical Engineering

•  Cortland   Bohacek, MBA
•  John    Krumme, BSME, MSME
 Medical Device Development

•  Scott   Heneveld
 Product Design & Testing, FEA/CAD
advisors


•  Gary   Fanton, MD
   Stanford Director of Orthopedic Sports Medicine

   Founder of Sapphire Medical & Oratec Interventions


•  Gordon    Murray, MD
   Immediate Past President, Society of Thoracic Surgeons


•  Kee   Lee, MD
   Board Certified Cardiothoracic Surgeon


•  Tom    Fogarty, MD
   Surgeon, Entrepreneur, Investor
the problem
twisted steel wires
the problem
twisted steel wires
background
twisted steel wires
background
twisted steel wires
background
expensive, complex reconstructions
the problem
                             twisted steel wires




•  what’s    wrong with steel wires?

  •    prone to failure at multiple stress points


  •    damages bone = cut-through
background
                              twisted steel wires




•  what’s    wrong with steel wires?

  •    imprecise & operator-dependent


  •    “tightness” & security is subjective


  •    does not provide multi-axis stability
why a new closure?



•  600,000 elective median sternotomies per year, closed with dated,
     rudimentary steel wires

•  40,000 sternal complications

•    Future – Older, Sicker (Diabetic, Renal Failure, Smokers), Redo’s

•    Never Event – Medicare no longer pays for complications ($80k - $100k)
alternatives to wire



    Synthes Plates
    ($3000 - $6000/pt)


                         Talon System ($2900/pt + tools)




Myowire ($800/pt)        Pioneer Cable System ($300/pt + tool)
existing sternal closure devices

•  why    haven’t these alternatives caught on?

  •    complicated & time-consuming to use


  •    unfamiliar techniques


  •    significant additional training & equipment


  •    targeted for small secondary markets only


  •    extremely expensive
figure 8 solution …
why figure 8 is better


•  lower   cost

•  easier   to apply using the same technique and equipment

•  same    amount of time

•  lower   profile and off midline

•  standard   and reproducible by different surgeons
why figure 8 is better



•  can   go through manubrium

•  multiple   configurations available

•  reversable

•  easy   re-entry
why figure 8 is better


•  wider   footprint + less vertical force to place

     = less cut-through

•  more    stable in multiple directions

•  security   mechanism doesn’t weaken construct

•  able   to solve partial sternotomy

•  primary    closure market
configurations
benchtop data – cyclic failure


                                                       3x	

                        7x	




                                                               200x	




                             13x	





Transverse Wire	

   Transverse 8	

   Fig8 Wire	

   Fig8 Device
benchtop data – cut-through
benchtop data – cut-through
benchtop data – pull to failure
figure 8
               partial sternotomy solutions

             Apply Device	





Figure “8”
figure 8
               partial sternotomy solutions


             Apply devices	




Two Single
  bands
clinical trial



Usability, Safety, and Efficacy of the Figure
       8 Sternotomy Closure Device

     Early Snapshot of Results: Aug – Dec 2011

              Investigator: Kee Lee, M.D.
clinical trial: details


•  prospective,   randomized

•  patient   blinded

•  single   CT surgeon – board certified

•  as   of december 2011
    •  18   pts figure 8 device group
    •  15   pts #7 ethicon wire group
Age	
  -­‐	
  Years	
  	
  (avg)	
  

                    70	
  
                              62.5	
                                                62.75	
  

                    60	
  


                    50	
  


                    40	
  
Axis	
  Title	
  




                    30	
  


                    20	
  


                    10	
  


                      0	
  
                              Fig8	
  	
                                            Wires	
  
Body	
  Mass	
  Index	
  –	
  (avg)	
  

40	
  


35	
  

          30.08	
                                               29.41	
  
30	
  


25	
  


20	
  


15	
  


10	
  


  5	
  


  0	
  
           Fig8	
                                               Wires	
  
Bypass	
  Time	
  –	
  Minutes	
  (avg)	
  

                                                         99.33	
  
100	
  
           95.23	
  


  90	
  



  80	
  



  70	
  



  60	
  



  50	
  
            Fig8	
                                       Wires	
  
Bypass	
  Off	
  to	
  Case	
  End-­‐	
  Minutes	
  (avg)	
  


100	
  

  90	
  

  80	
  
                70.82	
  
  70	
  

  60	
  
                                                                    53.16	
  
  50	
  

  40	
  

  30	
  

  20	
  

  10	
  

    0	
  
                 Fig8	
                                             Wires	
  




                            Closure occurs during this time.
Length	
  of	
  Stay	
  –	
  Days	
  (avg)	
  

8	
                                                                        7.58	
  

7	
  


6	
        5.66	
  


5	
  


4	
  


3	
  


2	
  


1	
  


0	
  
           Fig8	
  	
                                                      Wires	
  




        Shortest and Longest admission dropped from each group
Pain	
  on	
  Visual	
  Analog	
  Scale	
  (0-­‐10)	
  (avg)	
  


   5	
  


4.5	
                4.5	
  


   4	
  


3.5	
  


   3	
  
                     2.8	
  
                                                                                                        Fig8	
  
2.5	
  


   2	
                                                                                                  Wires	
  
           40% less pain
1.5	
                                                       1.55	
  


   1	
                                                      1	
                              1	
  


0.5	
  
                                                                                             0.22	
  
   0	
  
               D/C	
                              30	
  days	
                     60	
  days	
  
Surgery to Discharge Cost (Dollars)
90000


85000


80000


75000


70000

                                        82896
65000

             73187
60000


55000


50000
             Fig8                       Wires


        12% less cost
where are we

•  FDA 510(k)     approved

•  IRB    approval Clinical Trial in progress

•  FDA Certified    manufacturer in place

•  Full   clinical release ~ 3 weeks

•  bench    top testing completed

•  white   paper + cadaver evaluations completed

•  excellent   patent position 3 non-provisionals, 3 provisionals
figure 8

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Figure 8 Presentation

  • 1.
  • 2. introduction •  proprietary* evolution in sternal closure technology •  conceived by experts in sternal reconstruction •  driven by experienced medical device entrepreneurs •  endorsed by leading academic surgeons •  a Delaware corporation, self-funded since inception * multiple patent applications filed
  • 3. our team •  W. Thomas McClellan, MD Harvard / Tufts / Duke/ Emory Plastic & Hand Surgery •  Johnny Chang, MD, MSME Brown Plastic Surgery & MIT Mechanical Engineering •  Cortland Bohacek, MBA •  John Krumme, BSME, MSME Medical Device Development •  Scott Heneveld Product Design & Testing, FEA/CAD
  • 4. advisors •  Gary Fanton, MD Stanford Director of Orthopedic Sports Medicine Founder of Sapphire Medical & Oratec Interventions •  Gordon Murray, MD Immediate Past President, Society of Thoracic Surgeons •  Kee Lee, MD Board Certified Cardiothoracic Surgeon •  Tom Fogarty, MD Surgeon, Entrepreneur, Investor
  • 10. the problem twisted steel wires •  what’s wrong with steel wires? •  prone to failure at multiple stress points •  damages bone = cut-through
  • 11. background twisted steel wires •  what’s wrong with steel wires? •  imprecise & operator-dependent •  “tightness” & security is subjective •  does not provide multi-axis stability
  • 12. why a new closure? •  600,000 elective median sternotomies per year, closed with dated, rudimentary steel wires •  40,000 sternal complications •  Future – Older, Sicker (Diabetic, Renal Failure, Smokers), Redo’s •  Never Event – Medicare no longer pays for complications ($80k - $100k)
  • 13. alternatives to wire Synthes Plates ($3000 - $6000/pt) Talon System ($2900/pt + tools) Myowire ($800/pt) Pioneer Cable System ($300/pt + tool)
  • 14. existing sternal closure devices •  why haven’t these alternatives caught on? •  complicated & time-consuming to use •  unfamiliar techniques •  significant additional training & equipment •  targeted for small secondary markets only •  extremely expensive
  • 16.
  • 17. why figure 8 is better •  lower cost •  easier to apply using the same technique and equipment •  same amount of time •  lower profile and off midline •  standard and reproducible by different surgeons
  • 18. why figure 8 is better •  can go through manubrium •  multiple configurations available •  reversable •  easy re-entry
  • 19. why figure 8 is better •  wider footprint + less vertical force to place = less cut-through •  more stable in multiple directions •  security mechanism doesn’t weaken construct •  able to solve partial sternotomy •  primary closure market
  • 21. benchtop data – cyclic failure 3x 7x 200x 13x Transverse Wire Transverse 8 Fig8 Wire Fig8 Device
  • 22. benchtop data – cut-through
  • 23. benchtop data – cut-through
  • 24. benchtop data – pull to failure
  • 25. figure 8 partial sternotomy solutions Apply Device Figure “8”
  • 26. figure 8 partial sternotomy solutions Apply devices Two Single bands
  • 27. clinical trial Usability, Safety, and Efficacy of the Figure 8 Sternotomy Closure Device Early Snapshot of Results: Aug – Dec 2011 Investigator: Kee Lee, M.D.
  • 28. clinical trial: details •  prospective, randomized •  patient blinded •  single CT surgeon – board certified •  as of december 2011 •  18 pts figure 8 device group •  15 pts #7 ethicon wire group
  • 29. Age  -­‐  Years    (avg)   70   62.5   62.75   60   50   40   Axis  Title   30   20   10   0   Fig8     Wires  
  • 30. Body  Mass  Index  –  (avg)   40   35   30.08   29.41   30   25   20   15   10   5   0   Fig8   Wires  
  • 31. Bypass  Time  –  Minutes  (avg)   99.33   100   95.23   90   80   70   60   50   Fig8   Wires  
  • 32. Bypass  Off  to  Case  End-­‐  Minutes  (avg)   100   90   80   70.82   70   60   53.16   50   40   30   20   10   0   Fig8   Wires   Closure occurs during this time.
  • 33. Length  of  Stay  –  Days  (avg)   8   7.58   7   6   5.66   5   4   3   2   1   0   Fig8     Wires   Shortest and Longest admission dropped from each group
  • 34. Pain  on  Visual  Analog  Scale  (0-­‐10)  (avg)   5   4.5   4.5   4   3.5   3   2.8   Fig8   2.5   2   Wires   40% less pain 1.5   1.55   1   1   1   0.5   0.22   0   D/C   30  days   60  days  
  • 35. Surgery to Discharge Cost (Dollars) 90000 85000 80000 75000 70000 82896 65000 73187 60000 55000 50000 Fig8 Wires 12% less cost
  • 36. where are we •  FDA 510(k) approved •  IRB approval Clinical Trial in progress •  FDA Certified manufacturer in place •  Full clinical release ~ 3 weeks •  bench top testing completed •  white paper + cadaver evaluations completed •  excellent patent position 3 non-provisionals, 3 provisionals