Mike Minogue, Craiova Asker, United States discussed on MedTech Talk Podcast
So this is a long list of intriguing interest. But as a as a as a startup or as a business, obviously, having finite resources, you have to focus, and you have to prioritize and as as renal guard as I said Neo now having done twenty thousand cases, worldwide, you know, really the top of the list in terms of other applications was heart failure, and specifically the acutally compensated heart failure patient population. And so we had fast forwarded and invested quite a bit at time effort and resources over the last year in that area and made the strategic decision to launch just last week's heart failure society of America meeting, reprieve, Craiova asker, and what that does is it allows each. Businesses to focus on each of the therapies, certainly they commonality is the fluid management platform, but both technologies in certainly the reprieve guided on tyrod therapy, it's going to iterative very quickly. And and so we can I can speak more in detail to that in a couple of minutes, but it really made sense from a focus standpoint and made sense to divide the businesses from a call point standpoint their different in in really, Leslie, it affords investors a choice. And so the most recent seven race seven million. Both businesses are benefactors of that. And it a timing is terrific. And we really confident that you know, we've secured the funds to execute. You know, our our next credible. Milestones. So did the the the technology that reprieve is centered around that it just come from internal RND. Or was it something that you you in licensing? And if you could tell us a bit more about at Debbie, it'd be great. Yes. So you know, one of the initial steps we took a while ago. Was we took the off the shelf commercially available Rena guard system in Europe and rather than fluid balance because within the cath lab, and reducing contrast induced or frothy, it's critically important that we fluid balance, and and we do that in real time with matched hydration. And that recipe is one that we've been able to show demonstrate dramatic reductions in contrast induced frothy. So if you if you then go over to the heart failure side, you know, the Achille compensated heart failure patient. With massive fluid overload they account for ninety percent of of hospital admissions in the numbers are staggering in terms of both admissions hospital missions readmissions mortality, these patients need to be decongested. And so in theory, what we I embarked on was that what if we could design a system or make changes to the existing system that would put us in a position of the congesting or creating a net negative situation. So rather than fluid balanced, Tom, we can essentially give back less than the patient puts out interesting, and you had a. A new well was going into the round a bit more. You had a new investor come in abdomen as a lead investor that seven million. How did that come together you'd you'd work there previously as well to that relationship? Bring them into help bring them in his in investor. He I really enjoyed by years at abbey med leading US sales. And you know, certainly my familiarity in relationship with their executive team in Mike Minogue. You know was able to provide a forum where we could have some heart Dr discussions in. And you know, they they're wildly successful. I haven't they are, you know, Mike Minogue in his team of done. A just an amazing job since he got there in two thousand four of building that business, and they continue to be on a trajectory that second non so, you know, they're highly innovative highly successful, cardiac business heart failure business, and they actually further data. They do have definitely some interest and some research in in their technology, also reducing contrast induced property, you know, so there's a number of similarities in parallels. And you know, we're we're really thrilled that the F it having them have made the investment and MBA strategic partner. And if they invested in startups before they have, you know, I believe that the in terms of public disclosure. It's not a long list. I think they're frankly been very selective they've been focused on not only internal are in developmental projects. They've been focused on expanding their commercial footprint. I believe they just launched in in Japan over the last six or eight or nine months, but they've made some very select investments and what I mean by that is probably a good I could count on maybe not on both hands..