 Good morning. She said I'm Eduardo Jorgensen. I'm a medical doctor and CEO at Medixen and Medixen is a company that I co-founded four years ago So I'm gonna try to share a bit of the knowledge that we gathered for all these four years In our innovation journey in the healthcare industry and for that the first thing they need to know is what we do in Medixen and Our mission our mission is to create a system for the smart management of diabetes and the product that we Conceptualized was a non-invasive artificial pancreas which is mainly based on a needle-free drug delivery device predictive artificial intelligence to help the users and a chatbot interface to Increase the treatment adherence that these patients have and the value proposition that we're offering them is that they can really forget about needles They receive predictive analytics Personalized to their individual case and we connect to third party wearable devices like sensors So they don't have to buy our own sensor if they're comfortable with their and the one that they're using and all of these I started a couple years ago Actually five years ago when I was in a consult in the hospital and a little girl with diabetes rejected the treatment Are you in that she was sick of using needles? She couldn't have a normal life and and I was shocked in that moment up to a point that when I got out of there I called two friends from school which are telecom engineers and a friend from medical school And we founded the first team of medicine in order to create solutions And what we started creating was a software that could predict future glucose levels for the users and give them some insight But we realized that they actually didn't want data. They wanted actual actionable information and we created we evolved to towards a customized diabetes coach with which they can Ask questions. What happens if I drink a coke in 30 minutes? What if I go for a one-hour hike? That's something that may seem normal to you But for diabetic patient, they don't know how their glucose is going to behave in those situations So we actually tell them how the predicted glucose level is going to be and some advice So they stay out of risk We train their lifestyle with personalized meal and activity plans and we do everything through an intuitive chatbot interface That's designed to increase the adherence of the treatment, which is below 35% today Only one in every three patients achieve the target goals to avoid complications with diabetes And that's mainly because of the treatments that we have today and While we were developing the system We realized that this could also add some value for the healthcare provider because if we could detect prepathological behavior offer our Lifestyle management solution we will be able to decrease the risk and management costs for these patients And this is something that has been proven that if we offer patients Decision support tools that respect their quality of life and increase their treatment adherence They would Increase the time within an optimal glucose range and become 20% cheaper So we created a software tool for private insurances with which they can know more about the client They can open new verticals with patients that were not insurable before but now thanks to the knowledge of the risk They are insurable and they can even decrease the cost of managing those patients But during all that time we also kept developing the needle-free drug delivery device that I mentioned the insulin smart patch We realized that needles were one of them were one of the major pain points for patients And we needed to get rid of them So we invented a small piece of technology capable of opening micro pores in the skin It works using harmless pressure waves that increase the size of the natural skin pores Creating a channel for big drug molecules to go through but closing again once we stop the device And we build that piece into a comfortable wearable Smart pads for transdermal drug delivery completely free of needles In a typical use case the user refills the device with traditional drug presentations Places it on the arm or the belly and activates the smart pads to start the delivery It can work with multiple different drugs It takes less than one minute to fully absorb the required amount and it's safe and completely painless to use We envision a first generation of device of the device which would be manually controlled by the user They will decide the optimal time and dose and it will come to the market by 2021 as a class to be medical device But the real deal is when we automate this system with the software with the predictive software Then it becomes a non-invasive artificial pancreas making autonomous decisions and it will It requires more complex clinical trials. So we'll delay the entry in the market until 2023 So far we have intellectual property and are creating more We have been able to validate the system in vitro proving a safe increase in transdermal drug absorption Safe because once we stop the device skin returns to its original state and we secure the strategic international Partnerships to provide us with resources in the end what we learned is that So that's like the overview the big picture of what we have right now But we've learned that innovation is driven by the end user. We were for Founders to medical doctors to telecom engineers, but we had no relation to the diabetes world So we had to do a lot of research. Our first idea was an Implantable device something pretty invasive that was refilled from the outside and that would have an an implantable sensor as well to measure But we quickly realized that It was it didn't make any sense when we started researching. We realized that there was sensors out there doing a tremendous job providing users with data continuous glucose data, which was what they needed and Even Apple watch is going to create continuous glucose monitor for their Apple watch We realized that well Insulin needs to be injected around three times a day And most patients forget if they injected one of the doses or not Imagine when you have an antibiotic you didn't take the pill last time Do I forget to take it so these guys in two clock invented a piece that you put on the insulin pen and it Sends information to the smartphone every time that you inject insulin so you won't forget it And then there's also control software that was the main features were around building a community That would support patients and also giving them some insights on the data It's kind of hard to use because you have to be loading a lot of data So we realized that the added value for the coming from these solutions was that they were providing data to decrease uncertainty They were providing support on decision-making and they were adapting to the routine of the patient instead of having to prick The finger four times a day you would just put a sensor that stays there for 15 days You don't have to worry about it. It's getting data and sending it to the smartphone So out of that research we understood that we had to change It was we couldn't put something inside of the body and hope that patients would want to use it So we changed do we shift it towards trans dermal drug delivery systems? We realized that it had to be outside of the body and we realized that we had to give Complimentary data to users about it. So that's what we started to create The predictive software and since none of us were diabetic we had to do some research We had to do some tests and experiments with users to learn what they wanted and what they didn't want We conducted interviews to see if we had a good idea around the needs of the patient Then we built a proof-of-concept which was just mock-ups linked and allowed us to see what was missing and what was good for the patients in our solution We prototyped with them and ended up with an app that had too way too much information because we listened to all of them then we Created contests to be able to have focus groups and where we would ask them to test the app and give us some more feedback And we ended up doing pilot tests one in north of Spain The result of that one was the chatbot up. We learned that patients wanted more Message interaction than be loading tremendous amounts of daytime. That's just receiving data points 120 glucose level 140 in 15 minutes that doesn't say anything for them and In the second pilot that we did with Sanitas We ended up understanding how was the perspective of the healthcare provider when it comes to managing the diabetic patient We were able to improve the system even a little bit more So that that was regarding the software but regarding the hardware out of those tests and conversations We got to a point in which we realized it had to be wearable Not even an insulin pen that you have to carry in a big pack No, you had you had to put it on and really forget about it and this is the first design that we came to When we realized that innovation was creating new things or doing things differently as long as it generates Cost-effective benefit for someone and it improves the state of the art And this is the patch that we have right now. It's much more beautiful when it comes to design and much more Comfortable when it comes to use it's like four times two centimeters and and our main innovation efforts are going towards reducing the size of that smart patch so it comes a point when we can Have it as a nicotine patch as seen as a nicotine patch But the the real challenge in there and the technological challenge is that it has some electronic components that have a Size that cannot be miniaturized more today So it will be a continuous effort for innovation and all of that was possible Thanks to talent the the team that we had and and it's crucial But it's also pretty hard to retain right now. We're over 20 professionals coming from MIT, NASA, Roach, Philips But hasn't been like that all the time there was a time when we didn't have money and we were losing team members Especially remember one in which we needed to get 15,000 euros in the very beginning to save our intellectual property the legal fees that you have to be taking and And we had to do sacrifices That's the room where I lived with my financial officer for three months in Helsinki Working 16 hours a day for nearly no cash But it ended up paying off because we got the 20k that we need we got 20k we could save the IP and save it alive a bit longer and And that picture was taken just in the minute that I learned that we had won those 20k And I like to use this picture because it shows like a double truth Which is that you can get unexpected funds But everything that you see around me are all my belongings Because we got kicked out of our place in Finland in December and we had to sleep in a pizza place Because we didn't have no money to get anything we learned just in that moment And in the end you have to do crazy things to get funds The first round of funding that we got was from Dubai We had to do a demo day in there stayed six months in Dubai Second round was in the United Kingdom. We had to stay there for three months even pitting in Bloomberg Then in 2017 we started winning contests and we found that that was an interesting way of Financing a company you didn't have to lose any equity and you were creating some relevancy around the world and But with no doubt the craziest one that we've got was this one we got a hundred thousand Australian dollars from Australia and Equity-free the only thing that they asked for was come here and get him and And we stayed there for a couple months But when we tracked down that operation how everything started it was up to this tweet We found a tweet one day checking Twitter. We found this and said do you want a hundred thousand Australian dollars Do you have an innovative company just apply and come here and we applied in a year later? We were over there, so successful innovation needs a constant flow of Resources all the time and in the minute you lose it. You can lose the company and know the hype that you have created I just wanted to give you a couple of samples. This is not a company that we created in Australia this time arising from a Startup weekend in which in 54 hours we were able to create a minimum viable product We invented a shoe, so that detected dementia before Doctors could do it and what we did was create a support platform the sensors that are on an iPhone and Software to analyze that data and with that minimum viable product We won the start of weekend thirty thousand Australian dollars and we could build some sort of prototype It ended up dying because of factors the the effect these kind of solutions Especially this time it was a team commitment some people got jobs, so the the others were not trusting that much in the team So we ended up splitting up But I also know other successful innovations like the one from Ruben who is creating Environmentally friendly bio LEDs or Luz Rayo. I'm I'm competing against her this afternoon We have a an award ceremony and she's one of the finalists and we are as well She's changing dyslexia and she even got into an agreement with Samsung Okra by Lupna who is also an innovator by MIT Is giving intelligence to health care data and Andreas is one of my favorites He's creating he's creating snake anti-venoms based on human antibodies I'm pretty sure that most of you don't know that today if you get bitten by a venom by a snake the Anti-venom that you get is based on horse Antibodies that guy's trying to change that so he could sort out secondary effects But all of them such as medicine. We've had the same challenges when Creating our innovations the first one. I would say that is legal frameworks in access to funding because This is just a small example GDPR is a regulation that came late and probably would be outdated soon It generated a tremendous amount of work inside of companies And I'm not saying that it's not good. It needs we need to have this kind of regulations But we need to have them in a more efficient way We need to have standards to anonymize aggregate and limit the use of data or otherwise Something's like hacking your pacemaker or your insulin pump could happen This is not something for me. It was published in voices And and and finally the medical device regulation needs to be adapted We are right now in the middle of an adaptation But it's coming late There are now no guidelines and the most important thing is that it's going to be Tremendously hard for small companies to be able to regulate a medical device according to that regulation So we need not only to create standards safe as standards But also to make those processes more efficient or otherwise only big companies will be able to innovate and and also the de-standardization of data of The solutions there need to be criteria that inform patients and doctors which Technological acid is better for which individual case Second challenge I would say that is the technological integration not only because access and accessibility which is these kind of sensors are Very expensive not everyone can have them They're not covered for everyone by social security and they have their own suites of software It's very hard to make them work together Which also lead us to the lethal integration with providers in Spain We have like 20 different health care suites for the communities imagine between different countries It's nearly impossible to standardize a solution with current and technological environment and and finally the acceptance and implementation of these kind of solutions We've had a hard time making doctors trust digital solutions They are typically older doctors are typically against it because they consider is too much risk for them But in the end bad attitude towards innovation is driven by that same fear of innovating with a patient a fear that Every health care revolution had to overcome at some point. I'm not sure if any one of you knows what that is on the right That's the first pace maker and the guy that created it created a company based from that pace maker Which is metronic, but he created it because Patients were dying when there was electrical cuts in the hospital and backup generators wouldn't work people with heart surgery would die So he got a battery from a car and he got his son-in-law and said hey Let's try to create something to save these patients and they created the first version or Dr. Kadish in 1963 inventing the first insulin pump, which is that backpack that he's carrying It took 15 years to miniaturize it and make it wearable and since the 1990s would Didn't have any kind of tremendous innovation to improve it and that's what we're trying to change so just To do it a bit of a reflection. I would ask what do these innovators have in common and When I think about it, I always come to the same point. They have very different companies But they are all crazy change makers that were not afraid of the risk that was In the solutions that they were trying to create or the paradigm swift that they were trying to achieve and as a final thought I would say that um I think I made it sort of clear throughout the presentation, but maybe it was too much information So I want to synthesize it first thing is that In order to create a successful innovation in the healthcare industry You need to have a real understanding of the value that you're offering to the user and have a clear message around it Secondly, you'd need to try everything no matter how weird. I found it to it. We went to Australia We got a hundred thousand Australian dollars And finally the team is a key to achieve it and passion is a must I'm not saying that with these three ingredients you have the recipe for a successful innovation But what I'm saying is that if you don't do that I'm pretty sure that you will not have a successful innovation in the healthcare industry. Thank you very much Open for questions. We have a lot of time I speak fast So happy to take them Hi, thanks for the talk. It's the most great. Um, so Predictions are not really being used Uh Much less automatically to to regulate the insulin is that that would have to wait until 2023. I think it was But but but we have a software already. We have an app over there patients are using it You just get data from their own sensors and predict Right, so the work around to not to not become a medical device class three, I guess is that those predictions are like Support the user in taking decisions. That's it. We don't tell them what kind of medication they need in its moment All right, so that's the approach to to to be able to start separate both pieces. Yeah Okay And uh, is that is that what is your experience with that? That's so As I was saying we need standardized medical device regulation. One thing we found out was that in europe predictive Um Predictive apps softwares don't need to be regulated if they're not messing around with medication If you're only acting as a Lifestyle coach recommending what to eat what not to eat when to do exercise and what not to do it Then you don't need to be regulated in europe You do need to be regulated in the united states by fda, but we blocked the app In the united states. Okay Okay, thanks All right, I think there are no more questions Thank you very much