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Hey everybody, welcome to

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MedTech Speed to Data Episode 19 

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with Longeviti CEO Jesse Christopher.

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Jesse, welcome to the show.

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Thank you Andy for having me.

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It's a pleasure to be here.

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Yeah, it's always great 

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to have a Maryland medtech company

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come on.

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So we're going to jump right into it.

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We don't do these long intros, but I thought

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the mission of Longeviti

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was worth repeating here Jesse.

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And maybe I'll describe it

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and then you can really tell us

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what's going on.

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Behind the scenes there, so Longeviti’s

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Behind the scenes there, so Longeviti’s

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mission is to develop

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innovative solutions for complex brain surgery.

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So where did that come from?

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Right it's a mouthful,

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but there's a lot of reasons

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why people will undergo neurosurgery.

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And of course, as we see a market going

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less invasive,

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there are more and more reasons

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still to go in for neurosurgery.

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My background is running the East Coast

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for a Fortune 300 company

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and one of the biggest neuro device companies.

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And it's a really interesting market

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because you are very privileged

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to get into the operating rooms.

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And at some point, you know,

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I realized I'd seen about a thousand neurosurgeries

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and every hospital.

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A lot of neurosurgeons are trained differently

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and have their own protocols and techniques.

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And then you start realizing, okay,

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the companies are leaning on them for innovation.

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How does innovation come?

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And I really gravitated

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towards the path of innovation

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within my last company.

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But it was after really uncovering how slow

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the pace of innovation occurs in neurosurgery

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that got me out of bed.

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I felt compelled to quit my job

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that I still loved.

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It was a great company

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to start Longeviti Neuro Solutions

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and it was a statistic on a TED Talk

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that I heard one in five of us

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in which have verified, one in five of us

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over 65 will have a neurological disorder.

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And I've got three daughters and a wife.

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So you do the math.

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It would be a Greek tragedy

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if I was rich off of stock

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from my last company

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but couldn't solve some of the issues

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that were low hanging fruit.

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So we started Longeviti around

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five years ago now, just over five years ago.

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And, you know, very Americana.

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I quit my job, cold turkey, but on great terms,

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and went into my garage

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and started mixing plastics,

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taking my kids toys apart

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and really completing circuits

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for this next gen of computer

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interface and implants

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that I thought that we needed.

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And so again,

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I'm sure we'll get into a lot of that,

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but that's the evolution

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over the last five years

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of what kind of compelled me to take a risk

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and where we are today.

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Now, fortunately,

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with thousands of patients that have benefited.

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Yeah, no, I mean, that's a lot to unpack there.

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We'll do our best here.

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But Jesse,

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I mean, that's a great story, just to be bold, to

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just kind of stop what you were doing

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and the sales

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relationship management

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you were working on

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and just going all in your garage.

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So, you know, a lot of our audience is,

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either a startup medical device company or,

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a VP of R&D

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who's got that entrepreneurial sort of taste,

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but not necessarily the gusto

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to go and do their own thing.

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So they're doing more of the

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entrepreneurial thing.

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So you quit your job, like describe

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like your first,

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I don't know, month

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or two of of being out on your own.

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What were you focused on?

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Well, you imagine every emotion every day, right.

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You know, did we make the right decision?

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Was it too much

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or are we really going to change the world?

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There's a great quote by,

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I think Margaret Mead

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that, you know, so

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few people have always changed the world.

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So there's things that are motivating every day,

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but also you really up against steep odds.

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And so it takes fortitude

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and it really takes a lot of people around you.

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And I was really fortunate to have built

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an immense amount of trust over my career.

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And we have a saying at Longeviti

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trust is production over time, there's no shortcuts.

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I could jump in front of a bullet

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in front of you and take a bullet,

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and that's a lot of production

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in a very short amount of time

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or can give you exact change at a toll booth

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over 20 years and still develop incrementally trust.

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And it was interesting to see the ability

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of translating and trust into the team

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that we needed.

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So a lot of people came from where I left

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and other institutions to help build Longeviti

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into what it is today.

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And I think that was the most remarkable thing.

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So took some fortitude.

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But you can't just jump into it.

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There's no shortcuts.

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You need to be humble

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and you need to reach out to the people

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that are smarter than you,

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better than you, faster than you,

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and try to convince them to work for nothing.

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Yeah. Okay.

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That's what I was waiting for.

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Like, there's got to be a catch here.

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Work for nothing.

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The other

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kind of background,

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as I was preparing for this interview

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and we met years ago

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and what struck me then, 

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and it strikes me again here now is,

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 a lot of these startups.

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They'll say we need to go do the I-Corps or,

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you know, understand our market.

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But here you are after probably having dinners

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and buying cocktails

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for the market for years.

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So you're starting out

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well ahead of most startup companies

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that maybe are trying to get

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a better understanding of what the market needs.

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Yeah, and it's interesting.

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So one know your market.

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I mean, I've been in the industry

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this particular market for 20 years

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and you know, it's a daunting one to enter.

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That's probably why

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there isn't much neuro innovation occurring

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because it's very siloed.

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Just statistically, think about it.

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We've got 330 million Americans

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and we're getting older

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and we're able to keep our bodies alive.

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But there's the neurological disorders

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that are costing us more and more in health care.

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So 330 million Americans have about 300,000.

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neurosurgeries is a year.

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The cost of neurosurgery to America

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every year is around $750 billion.

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It's an insane amount of money.

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And we're talking about all the wrapped up

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health care, not just neurosurgery,

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but when you start to unpack the reasons

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why you really see

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an immense amount of opportunity.

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And again,

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you know, it's not for the faint of heart.

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We're a small company, you know, in waters

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with huge mega companies,

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very public, very global and,

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you know, seemingly

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still able to make a difference

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because we're staying in our lane.

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So you're five years in now.

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Are you are you getting revenue from the product?

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I know there's products on your website.

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Oh, yeah.

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So describe the handful of products

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that you have on the market now.

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We’ve released a few products

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over the last few years, the InvisiShunt platform,

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which helps

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house various technologies within the cranium.

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And so InvisiShunt helps with hydrocephalus.

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So think of pressure in the brain.

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Your brain's floating around

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in liquid all the time.

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And so when you have hydrocephalus,

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you have too much liquid,

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you need to get rid of it.

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So they put a drain in and our device

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allows that to be housed within the cranium.

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The outcomes have been fantastic,

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the patient feedback has been great

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and we really pride ourselves

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on leaning into conversations

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with patient advocacy groups like 

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the Hydrocephalus Association and allowed them

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to guide our innovation.

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We feel like it would be borderline arrogant

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to tell them what ideas are out there

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that they should be adopting.

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So we really listen to our physicians

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and our patients,

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but they're probably

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the most exciting family of products

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that have come out over the last year

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and a half are the ClearFit implants.

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And so ClearFits are quite literally

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imagine your skull under your skin being replaced

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when it undergoes surgery.

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When you undergo brain surgery

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with a clear window?

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There are a lot of cases

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where we have to reconstruct the skull

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and there's a number of materials

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that you can use that neurosurgeons

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have been using for decades,

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you know, from plastics to metals to titanium's.

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And it's seeing this firsthand.

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In my last career,

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it seemed like a really expensive day

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for the patient in terms of the real estate

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that's exposed.

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And if you're going to go in there,

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why not leave them

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with as much function as possible,

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as much diagnostics as possible?

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And it really led to,

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you know, this concept of Longeviti.

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So most, a lot of our implantable

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functional products are within the ClearFit

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platforms themselves.

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So when I talk about ClearFit,

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you've got two families,

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you've got custom and family

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that can do anything from just be an identical

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skull shape

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or house electrodes and various other components.

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And then you've got ClearFit off the shelf

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which frankly are put in very small sizes, 20

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millimeters to 50 millimeters to allow

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post-operative imaging of the brain.

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And why that's profound.

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And I'm going to get into in a second,

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but imagine this,

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neurosurgeons are the only discipline

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that can't use ultrasound.

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Every other discipline, cardiac

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have been using ultrasound like their stethoscope

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for now decades.

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And just for our audience.

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Jesse, why can't neurosurgeons

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use ultrasound imaging?

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Our brains are protected by the

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attenuation abilities of our skull so we can't

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have the ultrasound penetrate an adult skull.

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Some infants,

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you can certainly use it and certainly neonatal.

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But for the adults, you're relegated CT and MRI,

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which are both costly.

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And for patients,

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the experience is going to a strip mall,

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or down to the radiology department,

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whereas now that post operatively,

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some of these ClearFit recipients

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can use ultrasound.

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It's going into my doctor's office

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while I talk to my doctor,

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while he or she is imaging my brain

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and showing my brain to me and in motion.

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So the things that are really exciting now

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about ultrasound over the last year

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that we've been digging into

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is that unlike CTs,

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you can see, active live brain and in motion

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for the first time we can,

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you know, chronically image a moving brain.

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And so our our collaborators

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across the country, and globe now, have taken this

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and really are doing some amazing research.

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And so I'm going to geek out for a second, too,

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because, you know,

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this isn't your grandmother's ultrasound, right?

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We think of ultrasound as images of babies

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that we're trying to make out inside of the womb

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that was my experience as a father several times.

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It wasn't until recently

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that I understood how far ultrasound has come.

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And so you've got to think of ultrasound

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as an energy of three frequencies.

00:09:34:09 - 00:09:36:03
The one we're most commonly

00:09:36:03 - 00:09:37:23
familiar with is in the mid-range ten,

00:09:37:23 - 00:09:40:15
I think around ten, and that is the imaging.

00:09:40:15 - 00:09:42:11
Okay, your black and white images,

00:09:42:11 - 00:09:45:00
you see some companies using low frequencies

00:09:45:08 - 00:09:46:17
to ablate tumors.

00:09:46:17 - 00:09:48:23
I’m sorry, to ablate parts of the neuroanatomy

00:09:48:23 - 00:09:50:22
uninvasively, which is fantastic.

00:09:50:22 - 00:09:52:15
So companies like Insightec

00:09:52:15 - 00:09:54:14
are out there doing some amazing work.

00:09:54:14 - 00:09:55:11
You've also got companies

00:09:55:11 - 00:09:57:05
using the high end spectrum,

00:09:57:05 - 00:09:59:01
which now we're doing research with Caltech

00:09:59:01 - 00:10:00:11
because that high end

00:10:00:11 - 00:10:03:17
spectrum gives resolution 5 to 10 times

00:10:04:06 - 00:10:07:10
that of functional MRI, and it's uninvasive

00:10:07:10 - 00:10:08:17
and it's real time.

00:10:08:17 - 00:10:10:09
So what we're saying is

00:10:10:09 - 00:10:12:02
you can actually see with ultrasound

00:10:12:02 - 00:10:15:05
motor function, so thought intention

00:10:15:05 - 00:10:16:12
to move your arms and legs.

00:10:16:12 - 00:10:17:22
And so that's really interesting to now

00:10:17:22 - 00:10:19:12
think of ultrasound for us

00:10:19:12 - 00:10:21:07
as a machine brain interface.

00:10:21:07 - 00:10:23:09
So just talk a little bit more about

00:10:23:09 - 00:10:24:10
maybe your most

00:10:24:10 - 00:10:26:18
interesting application where, you know,

00:10:27:04 - 00:10:28:14
let's just talk about the off the shelf.

00:10:28:14 - 00:10:30:09
I think of them as like windows, right?

00:10:30:09 - 00:10:34:17
It's like a little opening to your brain.

00:10:34:17 - 00:10:37:00
Are these like, epilepsy patients, brain

00:10:37:00 - 00:10:38:19
tumor patients, like I don't know.

00:10:38:19 - 00:10:40:06
What do you, just characterize

00:10:40:06 - 00:10:41:00
that market a little bit.

00:10:41:00 - 00:10:43:08
And then describe the ultrasound application

00:10:43:08 - 00:10:44:15
a little bit more for that patient.

00:10:44:15 - 00:10:46:22
So it’s good to understand the market itself.

00:10:46:22 - 00:10:49:06
So there's 300,000 patients getting surgery

00:10:49:06 - 00:10:50:05
every year around.

00:10:50:05 - 00:10:53:04
So it's got 70,000 are hydrocephalus.

00:10:53:04 - 00:10:54:18
Those patients for Longeviti

00:10:54:18 - 00:10:56:05
can receive an InvisiShunt

00:10:56:05 - 00:10:58:03
and sometimes that's accompanied with a window.

00:10:58:03 - 00:10:59:00
So that

00:10:59:03 - 00:11:01:09
excuse me, that window will allow a physician

00:11:01:21 - 00:11:03:06
to follow the catheter

00:11:03:06 - 00:11:04:20
with ultrasound down into the brain

00:11:04:20 - 00:11:07:16
imaging and see the ventricles change.

00:11:07:16 - 00:11:09:06
They can actually watch the CSF,

00:11:09:06 - 00:11:10:14
which is that fluid that your brain

00:11:10:14 - 00:11:11:14
is floating in,

00:11:11:14 - 00:11:13:06
flow through the catheter and drain out

00:11:13:06 - 00:11:15:16
and make sure that was a successful case.

00:11:15:16 - 00:11:16:19
So that's one application

00:11:16:19 - 00:11:18:09
for a large swath of patients.

00:11:18:09 - 00:11:20:05
Another one is for tumors.

00:11:20:05 - 00:11:21:11
Some of our physicians now

00:11:21:11 - 00:11:23:19
in Israel, and New York are placing this window

00:11:23:19 - 00:11:25:14
because for your minute, for your

00:11:27:04 - 00:11:28:18
your benign tumors and

00:11:28:18 - 00:11:30:02
your meningiomas.

00:11:30:02 - 00:11:32:15
Those come back around, I think, 90%.

00:11:32:15 - 00:11:33:14
You're going to check my math

00:11:33:14 - 00:11:35:23
90% of the time in the exact same location

00:11:35:23 - 00:11:37:19
and 85% over 25 years.

00:11:37:19 - 00:11:40:09
So if you have a window here for early detection,

00:11:40:09 - 00:11:43:13
you can monitor these, you know, benign tumors.

00:11:43:18 - 00:11:44:18
There's an advantage there.

00:11:44:18 - 00:11:45:13
And a quote

00:11:45:13 - 00:11:46:13
that we hear all the time from

00:11:46:13 - 00:11:48:15
physicians is time is tissue.

00:11:48:15 - 00:11:49:16
And so that's another thing

00:11:49:16 - 00:11:51:04
that we're really interested

00:11:51:04 - 00:11:52:12
in is a lot of trauma

00:11:52:12 - 00:11:53:22
facilities are using our windows

00:11:53:22 - 00:11:55:16
so they can see blood afterwards.

00:11:55:16 - 00:11:57:15
It takes sometimes even,

00:11:57:15 - 00:11:59:18
in the best facilities, a couple of hours,

00:11:59:18 - 00:12:01:17
to get a patient down to a CT scanner,

00:12:01:17 - 00:12:02:17
to get those images,

00:12:02:17 - 00:12:04:01
to get a radiologist to read them,

00:12:04:01 - 00:12:06:02
and then back to the physician or the staff.

00:12:06:10 - 00:12:08:20
You know, sometimes you can actually just,

00:12:08:20 - 00:12:09:22
now, our physicians

00:12:09:22 - 00:12:11:08
will at least start with an ultrasound

00:12:11:08 - 00:12:12:05
if they have the ability

00:12:12:05 - 00:12:14:05
and they can still get the CT scan.

00:12:14:05 - 00:12:16:09
But that frontline imaging really can help a lot,

00:12:16:09 - 00:12:18:09
especially when a patient has minutes to hours.

00:12:18:09 - 00:12:20:04
Is the procedure, the implant,

00:12:20:04 - 00:12:22:08
always associated with some sort of

00:12:22:08 - 00:12:23:12
intervention,

00:12:23:12 - 00:12:25:00
or is it can it sometimes

00:12:25:00 - 00:12:27:04
just be you aside from the shunt,

00:12:27:04 - 00:12:27:19
you know,

00:12:27:19 - 00:12:29:09
can it be used like purely for like, hey,

00:12:29:09 - 00:12:30:18
we're just going to study you now.

00:12:30:18 - 00:12:32:12
So it's interesting you say that,

00:12:32:12 - 00:12:34:01
we do have a lot of interest

00:12:34:01 - 00:12:36:21
in an extra dural implantation.

00:12:36:21 - 00:12:39:01
And so what our window allows is diagnostics

00:12:39:01 - 00:12:41:08
of the brain fairly un-invasively.

00:12:41:08 - 00:12:43:15
So some facilities are starting to talk about

00:12:43:15 - 00:12:44:23
an outpatient procedure.

00:12:44:23 - 00:12:46:17
You don't actually need to expose the brain.

00:12:46:17 - 00:12:47:16
It's covered

00:12:47:16 - 00:12:50:16
by a leather type of membrane called the dura.

00:12:50:16 - 00:12:52:18
And the dura is fairly tough and robust.

00:12:52:18 - 00:12:55:02
So if you can expose the,

00:12:55:02 - 00:12:56:14
you know, small incision in the skin,

00:12:56:14 - 00:12:58:15
remove a small window of bone, replace this

00:12:58:15 - 00:13:00:12
very strong implant that gives you a window,

00:13:00:12 - 00:13:01:09
put your skin back

00:13:01:09 - 00:13:03:01
and the patient recovers very quickly.

00:13:03:01 - 00:13:04:20
It's an outpatient procedure.

00:13:04:20 - 00:13:06:01
So some of those technologies

00:13:06:01 - 00:13:07:16
I've mentioned early on about this,

00:13:07:16 - 00:13:09:23
the spectrum of ultrasound,

00:13:09:23 - 00:13:11:20
that’s where we're doing a lot of research right now.

00:13:11:20 - 00:13:15:01
It might be a value proposition for a patient

00:13:15:01 - 00:13:16:14
to go in and get a window, so they can

00:13:16:14 - 00:13:18:11
then receive one of the two high

00:13:18:11 - 00:13:20:03
or low end frequencies of ultrasound,

00:13:20:03 - 00:13:23:02
either for motor function or to ablate,

00:13:23:02 - 00:13:24:03
a part of the brain

00:13:24:03 - 00:13:25:10
that otherwise they couldn't get to,

00:13:25:10 - 00:13:27:07
which would be a lot less invasive

00:13:27:07 - 00:13:28:18
than actually go surgically remove

00:13:28:18 - 00:13:30:19
that part of tumor or that motor dysfunction.

00:13:31:14 - 00:13:32:09
Does that make sense?

00:13:32:09 - 00:13:33:19
It does.

00:13:33:19 - 00:13:36:06
Let me take a step back.

00:13:36:06 - 00:13:37:18
As a founder CEO,

00:13:37:18 - 00:13:40:13
It is very important

00:13:40:13 - 00:13:44:18
that we were very respectful and diligent

00:13:44:18 - 00:13:46:10
on the patient

00:13:46:10 - 00:13:48:01
and understanding the circumstances

00:13:48:01 - 00:13:49:17
in which they're undergoing surgeries.

00:13:49:17 - 00:13:51:03
And we really, as a young company

00:13:51:03 - 00:13:53:12
need to listen to what's already happening.

00:13:53:12 - 00:13:54:01
And, you know,

00:13:54:01 - 00:13:56:05
these disorders are already teaching us so much.

00:13:56:14 - 00:13:59:03
But to your point, we do think that in the future

00:13:59:03 - 00:14:00:01
there is a scenario

00:14:00:01 - 00:14:01:13
where you could be getting these windows

00:14:01:13 - 00:14:03:17
and probably should be getting these windows

00:14:03:17 - 00:14:05:02
for various other technologies.

00:14:05:02 - 00:14:07:11
And that’s what makes it so fun right now for us.

00:14:07:11 - 00:14:08:22
There's so much opportunity,

00:14:08:22 - 00:14:10:13
with just even this one technology,

00:14:10:13 - 00:14:11:12
let alone all these others,

00:14:11:12 - 00:14:12:17
we don't have time to talk about it.

00:14:12:17 - 00:14:14:09
Yeah, I mean, you're,

00:14:14:09 - 00:14:15:19
in some ways to think about it

00:14:15:19 - 00:14:17:17
sort of decades ahead of

00:14:17:17 - 00:14:19:20
the pharmaceutical applications

00:14:19:20 - 00:14:22:03
for neurodegenerative diseases or,

00:14:22:03 - 00:14:23:22
you can see a future where, hey,

00:14:23:22 - 00:14:25:16
you've got these biomarkers,

00:14:25:16 - 00:14:29:01
you might be at risk for some future disease.

00:14:29:01 - 00:14:30:16
Let’s start some sort of low,

00:14:30:16 - 00:14:32:10
you know, low frequency

00:14:32:10 - 00:14:33:20
ultrasound therapy or

00:14:33:20 - 00:14:36:02
something like that is kind of maybe where

00:14:36:02 - 00:14:37:11
what you're envisioning in the future.

00:14:37:11 - 00:14:38:02
Is that right?

00:14:38:02 - 00:14:40:08
Yeah, and I hate to bucket it in one

00:14:40:08 - 00:14:41:00
because there's probably

00:14:41:00 - 00:14:42:09
about a dozen different projects

00:14:42:09 - 00:14:44:09
already underway with various institutions

00:14:44:09 - 00:14:46:07
and some of the best institutions in the world

00:14:46:07 - 00:14:49:13
from, you know, Penn and Hopkins to USC, Caltech,

00:14:50:04 - 00:14:51:03
across the country.

00:14:51:03 - 00:14:52:18
And we're starting to work with children

00:14:52:18 - 00:14:54:09
now, which is very exciting

00:14:54:09 - 00:14:56:04
and near and dear to most of us.

00:14:56:04 - 00:14:58:01
On the executive team, we're all parents.

00:14:58:01 - 00:14:59:04
How do you manage

00:14:59:04 - 00:15:00:17
all these different initiatives?

00:15:00:17 - 00:15:01:23
It sounds like you've got,

00:15:01:23 - 00:15:04:20
you know, on market, off the shelf platforms,

00:15:05:04 - 00:15:06:04
you've got research

00:15:07:14 - 00:15:09:06
relationships and partnerships

00:15:09:06 - 00:15:12:03
and I'm sure a bunch of other sort of DARPA

00:15:12:03 - 00:15:13:08
or something like that, you know,

00:15:13:08 - 00:15:15:05
upfront sort of R&D, like

00:15:15:05 - 00:15:17:12
how do you manage all that?

00:15:17:12 - 00:15:18:12
And these are all important.

00:15:18:12 - 00:15:19:23
I can see your vision here

00:15:19:23 - 00:15:21:09
as you're describing it,

00:15:21:09 - 00:15:22:12
but I also kind of

00:15:22:12 - 00:15:23:17
want to ask the question like,

00:15:23:17 - 00:15:25:02
how do you manage to

00:15:25:02 - 00:15:26:03
kind of run the company

00:15:26:03 - 00:15:28:09
when you have all these different sort of

00:15:28:09 - 00:15:29:08
things going on?

00:15:29:08 - 00:15:31:09
You know, it's really important

00:15:31:09 - 00:15:32:09
for a young company

00:15:32:09 - 00:15:34:20
and a lean company like ours to have focus.

00:15:34:20 - 00:15:35:19
So although

00:15:35:19 - 00:15:37:15
you might hear me talking about a lot of things

00:15:37:15 - 00:15:39:16
our executive team is pretty focused on,

00:15:39:16 - 00:15:40:11
you know,

00:15:40:19 - 00:15:43:17
two or three major initiatives per year.

00:15:43:17 - 00:15:45:18
And this year it's just overwhelmingly

00:15:45:18 - 00:15:47:07
to teach the market ultrasound

00:15:47:07 - 00:15:49:02
and focus on our core products, grow revenue,

00:15:49:02 - 00:15:51:18
so we can support all the other R&D.

00:15:52:02 - 00:15:53:17
The good news too is it's exciting.

00:15:53:17 - 00:15:55:09
So a lot of our collaborators,

00:15:55:09 - 00:15:57:01
frankly, are eager to do the work

00:15:57:01 - 00:15:59:14
and if we can allow them to work at their pace

00:15:59:14 - 00:16:01:20
because of that and it doesn't set us back.

00:16:01:20 - 00:16:04:23
But there's the traditional setbacks.

00:16:04:23 - 00:16:06:22
I mean, as I'm sitting here as a CEO,

00:16:06:22 - 00:16:08:14
there's probably a half dozen projects

00:16:08:14 - 00:16:09:16
we can't fund right now.

00:16:09:16 - 00:16:12:11
And just the Sophie’s Choice of our,

00:16:12:11 - 00:16:14:03
you know, of our economy.

00:16:14:03 - 00:16:16:00
Real quick on that.

00:16:16:00 - 00:16:18:20
So clearly executive focused certainly helps.

00:16:19:15 - 00:16:21:01
And those other ones are out there,

00:16:21:01 - 00:16:22:20
but you're not kind of working on them actively.

00:16:22:20 - 00:16:25:06
But can you just talk a little bit more?

00:16:25:06 - 00:16:26:01
We don't talk about this

00:16:26:01 - 00:16:27:10
enough on the podcast about,

00:16:27:10 - 00:16:30:01
you know, you're on the

00:16:30:01 - 00:16:31:15
frontier of this market.

00:16:31:15 - 00:16:33:04
So it seems like a lot of your work

00:16:33:04 - 00:16:34:13
is educating,

00:16:34:13 - 00:16:36:16
or teaching the market about ultrasound.

00:16:38:13 - 00:16:40:09
What are you actually doing there?

00:16:40:09 - 00:16:43:05
So it's twofold and that's a great point.

00:16:43:05 - 00:16:45:23
It's probably the biggest

00:16:45:23 - 00:16:48:04
task at hand for the for the company,

00:16:48:04 - 00:16:49:12
is not only training ultrasound,

00:16:49:12 - 00:16:51:00
which ironically internationally

00:16:51:00 - 00:16:52:03
our neurosurgical community

00:16:52:03 - 00:16:53:15
is a little more familiar with,

00:16:53:15 - 00:16:54:13
but in the United States, we have

00:16:54:13 - 00:16:56:02
CT scanners, MRI's everywhere.

00:16:56:02 - 00:16:57:12
So there's less of a need.

00:16:57:12 - 00:16:58:23
But when you start looking at

00:16:58:23 - 00:17:00:19
the numbers behind patient transports

00:17:00:19 - 00:17:02:04
and what it means to move a patient around

00:17:02:04 - 00:17:03:12
just to get an image versus

00:17:03:12 - 00:17:04:21
doing it at the bedside

00:17:04:21 - 00:17:07:00
again, the costs and the adverse events

00:17:07:00 - 00:17:08:13
associated are overwhelmingly

00:17:08:13 - 00:17:10:08
in favor of keeping the patient

00:17:10:08 - 00:17:12:11
where they are and getting real time imaging.

00:17:12:11 - 00:17:14:07
So, you know, how do we do that?

00:17:14:07 - 00:17:15:19
We teach the ICU team.

00:17:15:19 - 00:17:17:06
So after our surgery,

00:17:17:06 - 00:17:19:08
the whole team that takes care of this patient,

00:17:19:08 - 00:17:20:10
we will go in and we'll do an

00:17:20:10 - 00:17:22:06
in-service, will bring in a GE unit

00:17:22:06 - 00:17:24:00
we've hired some great people from GE.

00:17:24:00 - 00:17:26:04
We've got a good relationship with GE actually,

00:17:26:12 - 00:17:27:12
so we'll go in and

00:17:27:12 - 00:17:29:09
co-train them on how to manage these patients.

00:17:29:09 - 00:17:31:02
What are the protocols?

00:17:31:02 - 00:17:33:09
What are the first things you're looking at?

00:17:33:09 - 00:17:35:07
Midline, skull base, ventricles?

00:17:35:07 - 00:17:37:21
Is there blood, you know, completed checklist.

00:17:37:21 - 00:17:38:15
But it's really interesting

00:17:38:15 - 00:17:39:03
to watch this

00:17:39:03 - 00:17:42:03
grow grassroots from Hopkins to NYU

00:17:42:03 - 00:17:43:06
and some of these other hospitals

00:17:43:06 - 00:17:45:04
that are really writing the protocols

00:17:45:04 - 00:17:46:10
at Mount Sinai, for example,

00:17:46:10 - 00:17:48:00
they're doing some amazing things with,

00:17:48:00 - 00:17:49:07
you know, blood evacuation.

00:17:49:07 - 00:17:53:07
And so we're sitting back and kind of watching,

00:17:53:07 - 00:17:56:12
watching our our physicians lead us to the right

00:17:56:12 - 00:17:57:21
place responsibly.

00:17:57:21 - 00:18:00:14
So these are, you mentioned like protocols.

00:18:00:14 - 00:18:01:07
These are

00:18:01:07 - 00:18:03:21
the physicians that have patients of your

00:18:03:21 - 00:18:06:04
of Longeviti’s with implants

00:18:06:04 - 00:18:08:05
that they can now study longer term, basically.

00:18:08:12 - 00:18:10:13
Right, and so we have probably three fold,

00:18:10:13 - 00:18:13:00
we've got our Longeviti Initiative Education,

00:18:13:00 - 00:18:14:09
which is on brand.

00:18:14:09 - 00:18:15:11
And, you know, our have

00:18:15:11 - 00:18:17:17
our industry enough is very regulated.

00:18:17:17 - 00:18:20:00
So there's only so much we can do and say

00:18:20:00 - 00:18:21:03
there's,

00:18:21:03 - 00:18:23:02
you know, courses like the one I'm at today

00:18:23:02 - 00:18:24:06
and frankly, I'm talking to you

00:18:24:06 - 00:18:25:12
from the Big Island in Hawaii

00:18:25:12 - 00:18:27:12
from the Western Neurosurgical Society meeting,

00:18:27:12 - 00:18:28:05
where you've got

00:18:28:05 - 00:18:29:22
some of the most brilliant physicians

00:18:29:22 - 00:18:31:12
and neurosurgeons in the world

00:18:31:12 - 00:18:32:21
getting together once a year

00:18:32:21 - 00:18:34:00
in a friendly environment,

00:18:34:00 - 00:18:35:23
talking about what they're working on,

00:18:35:23 - 00:18:37:08
what their life's work is on.

00:18:37:08 - 00:18:38:22
Can we implant T cells?

00:18:38:22 - 00:18:41:02
should we be doing this one procedure invasively?

00:18:41:02 - 00:18:42:11
And it’s very interesting

00:18:42:11 - 00:18:45:05
to see the real controversy today and, you know,

00:18:45:21 - 00:18:48:19
and civil way of having these conversations.

00:18:48:19 - 00:18:51:13
And let's face it, too, I mean,

00:18:51:13 - 00:18:52:06
there's a lot of risk

00:18:52:06 - 00:18:53:21
sometimes to having these open dialogs

00:18:53:21 - 00:18:56:05
and this community needs a safe place

00:18:56:05 - 00:18:56:20
to have that.

00:18:56:20 - 00:18:57:11
And so, you know,

00:18:57:11 - 00:18:58:23
we sometimes this industry feel

00:18:58:23 - 00:19:00:14
very privileged to be able to be at places

00:19:00:14 - 00:19:01:21
like this, to listen to that

00:19:01:21 - 00:19:03:11
and to see if we're on the right track

00:19:03:11 - 00:19:05:03
or if we're listening to what they have to say.

00:19:05:03 - 00:19:09:11
So, you know, supporting and partnering with,

00:19:09:16 - 00:19:10:08
you know,

00:19:10:08 - 00:19:12:07
these education societies that already meet

00:19:12:07 - 00:19:13:08
is another great way

00:19:13:08 - 00:19:15:04
to really further the education.

00:19:15:04 - 00:19:17:17
And then lastly is really macro economically.

00:19:18:01 - 00:19:19:22
We're working with large facilities

00:19:19:22 - 00:19:21:00
like North Wealth in New York

00:19:21:00 - 00:19:23:07
that has 26 hospitals, Hopkins,

00:19:23:07 - 00:19:26:07
Kaiser to understand, you know, follow a dollar

00:19:26:20 - 00:19:29:02
as that patient goes through the hospital system,

00:19:29:02 - 00:19:31:10
let's follow the dollar that follows them.

00:19:31:23 - 00:19:33:01
And it's a lot easier

00:19:33:01 - 00:19:34:17
said than done in some cases

00:19:34:17 - 00:19:36:14
takes years, even within an institution

00:19:36:14 - 00:19:38:05
that wants to do it, so.

00:19:38:05 - 00:19:38:22
But those are kind

00:19:38:22 - 00:19:40:14
of the three pillars of education we look at.

00:19:40:14 - 00:19:42:05
That's real, there's a lot of work there.

00:19:42:05 - 00:19:43:07
So, you know,

00:19:43:07 - 00:19:44:22
it brings it back to,

00:19:44:22 - 00:19:48:18
the name of our podcast, which is Speed to Data.

00:19:49:05 - 00:19:51:09
And as you're talking, it's

00:19:51:09 - 00:19:52:14
maybe a better way to frame it

00:19:52:14 - 00:19:54:01
with you is sort of

00:19:54:01 - 00:19:58:05
like the marathon of kind of educating

00:19:58:05 - 00:20:02:04
and slowly getting data to be able to kind of

00:20:02:04 - 00:20:03:16
point to that killer app

00:20:05:02 - 00:20:08:02
that will, skyrocket sales, I would imagine,

00:20:08:08 - 00:20:10:04
of your implants.

00:20:10:04 - 00:20:11:15
Yeah, there's a couple of things

00:20:11:15 - 00:20:13:03
now that we think will do that.

00:20:13:03 - 00:20:14:12
We're already seeing early indications

00:20:14:12 - 00:20:16:12
and we've been grateful for physicians,

00:20:16:12 - 00:20:19:12
frankly, tweeting out and posting on social media

00:20:19:12 - 00:20:21:02
some of the amazing images they're getting.

00:20:21:02 - 00:20:23:14
So there's a good grassroots groundswell.

00:20:23:14 - 00:20:24:18
But to your point,

00:20:24:18 - 00:20:27:08
we also expect there'll be some some real,

00:20:27:08 - 00:20:29:17
you know, step ups in terms of adoption.

00:20:29:17 - 00:20:32:01
When we have certain standards and indications,

00:20:32:16 - 00:20:33:03
we're hopeful

00:20:33:03 - 00:20:35:10
for an additional reimbursement code

00:20:35:17 - 00:20:36:21
to come next year.

00:20:36:21 - 00:20:40:09
And we've got some great partnered physicians

00:20:40:09 - 00:20:42:01
that are explaining the value proposition

00:20:42:01 - 00:20:43:16
of being able to ultrasound at any point,

00:20:43:16 - 00:20:47:03
any time, as well as some research

00:20:47:03 - 00:20:49:05
that will point to statistical significance

00:20:49:05 - 00:20:50:15
around things like the InvisiShunt.

00:20:50:15 - 00:20:51:22
And so once we feel like these

00:20:51:22 - 00:20:53:09
things are out there again,

00:20:53:09 - 00:20:56:10
we'll continue to see, you know, step ups.

00:20:56:10 - 00:20:57:04
But to your point,

00:20:57:04 - 00:20:59:13
I mean, we're in it for the grind.

00:20:59:13 - 00:21:01:15
I think Ray Lewis being from Baltimore,

00:21:01:15 - 00:21:03:01
the last time we won a Super Bowl,

00:21:03:01 - 00:21:06:21
that was our motto is, embrace the grind.

00:21:06:21 - 00:21:08:04
And, you know, for a company

00:21:08:04 - 00:21:09:21
that started in a garage

00:21:09:21 - 00:21:11:15
that has, you know, really

00:21:11:15 - 00:21:12:21
bootstrapped its funding

00:21:12:21 - 00:21:15:06
and made it through a pandemic, been able to grow

00:21:15:06 - 00:21:17:02
and now is internationally selling,

00:21:17:02 - 00:21:18:21
we know what that means.

00:21:18:21 - 00:21:20:06
And so every day we get out of bed

00:21:20:06 - 00:21:21:15
and we're embracing the grind.

00:21:21:15 - 00:21:22:21
We know it's not going to be easy.

00:21:22:21 - 00:21:23:21
And all of the things that I mean,

00:21:23:21 - 00:21:26:03
you heard me talk about, we take seriously.

00:21:26:03 - 00:21:27:21
We don't want to fall on our face

00:21:27:21 - 00:21:30:05
and we want to be very respectful to the patient.

00:21:30:05 - 00:21:31:01
At the end of the day.

00:21:31:01 - 00:21:33:14
I guess, what do investors ask?

00:21:33:14 - 00:21:36:16
Because you are doing quite a bit of market,

00:21:36:16 - 00:21:38:21
you know, education here

00:21:38:21 - 00:21:40:21
and is sort of like a tech, you know,

00:21:40:21 - 00:21:42:15
sort of like a non-med device tech company

00:21:42:15 - 00:21:43:16
where like you're building

00:21:43:16 - 00:21:45:23
this platform, it’s going to take a long time.

00:21:46:07 - 00:21:48:13
Like what kind of questions do investors ask

00:21:48:19 - 00:21:50:06
and how do you answer them?

00:21:50:06 - 00:21:51:20
Yeah, it's a great question.

00:21:51:20 - 00:21:55:02
We are very fortunate to have a very supportive

00:21:55:02 - 00:21:58:19
investor group through our,

00:21:59:02 - 00:21:59:21
and considering

00:21:59:21 - 00:22:00:21
the size of our industry,

00:22:00:21 - 00:22:02:05
smaller rounds

00:22:02:05 - 00:22:04:07
and we're also very fortunate to have revenue

00:22:04:15 - 00:22:06:08
so we have

00:22:06:08 - 00:22:08:05
path to profitability for a young company

00:22:08:05 - 00:22:10:10
in this space is very difficult.

00:22:10:10 - 00:22:12:14
But we also recognize there's

00:22:12:14 - 00:22:13:21
a lot of opportunity for growth.

00:22:13:21 - 00:22:15:11
So as I sit here talking to you,

00:22:15:11 - 00:22:16:16
our board and myself

00:22:16:16 - 00:22:18:15
are contemplating really accelerating.

00:22:18:15 - 00:22:19:15
What we already know is,

00:22:19:15 - 00:22:22:03
is this possible in pockets that we're

00:22:22:03 - 00:22:22:23
seeing success.

00:22:24:00 - 00:22:25:10
So, you know,

00:22:25:10 - 00:22:27:12
that's kind of where we sit

00:22:27:12 - 00:22:28:16
and how we look at it

00:22:28:16 - 00:22:29:19
and how we have our discussions.

00:22:29:19 - 00:22:31:15
So it's kind of out of both sides of your mouth,

00:22:31:15 - 00:22:33:22
but very transparent, you know, hey, look,

00:22:33:22 - 00:22:35:17
we might have another pandemic,

00:22:35:17 - 00:22:37:17
so we've got plan B in our back pocket.

00:22:37:17 - 00:22:39:21
We also know that there's a lot of opportunity.

00:22:39:21 - 00:22:41:10
These are real value

00:22:41:10 - 00:22:43:19
propositions for patients all over the world.

00:22:43:19 - 00:22:45:06
And we're seeing it firsthand.

00:22:45:06 - 00:22:47:12
We can't unsee what we've seen now.

00:22:47:12 - 00:22:49:23
So, you know, how do we treat both of these?

00:22:50:12 - 00:22:51:08
You know, and it

00:22:51:08 - 00:22:53:22
and it takes really having multiple plans,

00:22:54:05 - 00:22:55:19
you know, good communication with your board

00:22:55:19 - 00:22:56:17
and your executives.

00:22:56:17 - 00:22:57:21
and so I feel like that's

00:22:57:21 - 00:22:59:08
where my particular role

00:22:59:08 - 00:23:01:12
is this most important?

00:23:01:12 - 00:23:02:11
I need to be the connective

00:23:02:11 - 00:23:03:19
tissue between our investors

00:23:03:19 - 00:23:05:03
and our executive team.

00:23:05:03 - 00:23:06:18
And together, we need to translate

00:23:06:18 - 00:23:07:13
as an executive team

00:23:07:13 - 00:23:10:17
to our employees what the vision is.

00:23:10:17 - 00:23:13:14
But the investors look,

00:23:13:21 - 00:23:14:16
you know, the pandemic,

00:23:14:16 - 00:23:16:18
they want to make sure that we're not, you know,

00:23:16:18 - 00:23:18:00
imploding, which fortunately

00:23:18:00 - 00:23:19:23
we grew, you know, about 50% during,

00:23:19:23 - 00:23:20:20
which is encouraging.

00:23:20:20 - 00:23:21:18
But, you know,

00:23:21:18 - 00:23:22:05
we're very

00:23:22:05 - 00:23:24:02
we give a quarterly newsletter

00:23:24:02 - 00:23:25:17
proactively to our investment group,

00:23:25:17 - 00:23:27:14
which I think satisfies

00:23:27:14 - 00:23:29:02
a lot of questions that otherwise,

00:23:29:02 - 00:23:30:19
if you're not hearing from a private company,

00:23:30:19 - 00:23:32:06
you know, public companies you can hear about.

00:23:32:06 - 00:23:34:14
But we try to fly a little under the radar

00:23:34:14 - 00:23:35:20
and most of our posts

00:23:35:20 - 00:23:37:17
are, you know, within health care.

00:23:37:17 - 00:23:39:09
Yeah, I like staying ahead of it

00:23:39:09 - 00:23:40:23
from a communication perspective,

00:23:40:23 - 00:23:42:09
particularly with your investors, 

00:23:42:09 - 00:23:43:03
it's a smart move.

00:23:44:12 - 00:23:46:19
So you mentioned just the word vision

00:23:47:05 - 00:23:49:22
and on your home page, 

00:23:49:22 - 00:23:52:09
there's a picture of one of the implants

00:23:52:09 - 00:23:55:08
that has a battery, a circuit board

00:23:55:17 - 00:23:57:09
and some sort of antenna

00:23:57:09 - 00:23:59:20
and some sort of connection to the brain.

00:23:59:20 - 00:24:04:04
Are you up to talking about what that actually is?

00:24:04:04 - 00:24:06:01
Yeah. So I'm glad you brought it up.

00:24:06:01 - 00:24:06:12
And I encourage

00:24:06:12 - 00:24:08:05
anybody who listens to go and see it.

00:24:08:05 - 00:24:11:01
It's really easy then to understand

00:24:11:01 - 00:24:13:04
what you and I have been talking about

00:24:13:04 - 00:24:14:22
in a snapshot. Right.

00:24:14:22 - 00:24:16:21
And so that image, you see

00:24:16:21 - 00:24:18:06
one of the projects we worked on,

00:24:18:06 - 00:24:19:18
it wasn't intended for a patient,

00:24:19:18 - 00:24:20:16
but it was really flexing

00:24:20:16 - 00:24:21:23
some of our engineering muscles.

00:24:21:23 - 00:24:23:15
And to date we've got seven patents

00:24:23:15 - 00:24:24:22
and I think 33 underway,

00:24:24:22 - 00:24:27:00
and I have to check my math on that.

00:24:27:00 - 00:24:27:12
But, you know,

00:24:27:12 - 00:24:29:09
it's really about the implantability

00:24:29:09 - 00:24:31:20
and the conversion of the cranial plasticisty,

00:24:31:20 - 00:24:34:12
your bone, your cranium into a functional,

00:24:35:08 - 00:24:38:12
you know, apparatus, batteries, apps,

00:24:38:22 - 00:24:41:06
various function, medicine delivery,

00:24:41:06 - 00:24:43:21
you know, stimulation, recording.

00:24:43:21 - 00:24:44:11
And so what

00:24:44:11 - 00:24:47:12
you see there, that's actually an infrared camera

00:24:47:12 - 00:24:50:03
to look at brain and blood flow

00:24:50:03 - 00:24:52:06
because there's no light in the brain.

00:24:52:06 - 00:24:53:07
So there's a tiny light,

00:24:53:07 - 00:24:54:10
there's an infrared camera

00:24:54:10 - 00:24:56:04
and the whole thing is completely autonomous

00:24:56:04 - 00:24:59:06
and it can emit through an antenna to an app

00:24:59:06 - 00:25:00:00
what it's seeing.

00:25:00:23 - 00:25:02:16
There's a number of projects that,

00:25:02:16 - 00:25:04:20
you can basically imagine implants,

00:25:05:05 - 00:25:06:11
power and function.

00:25:06:11 - 00:25:08:05
That's what we need, right, form, power, 

00:25:08:05 - 00:25:10:22
and function is what we consider at Longeviti.

00:25:10:22 - 00:25:12:09
Form and power, really,

00:25:12:09 - 00:25:14:09
we consider our our strong suits.

00:25:14:09 - 00:25:16:05
We realy look for function

00:25:16:05 - 00:25:18:05
and have had some great collaborations.

00:25:18:05 - 00:25:22:09
So again, you know, from pressure flow

00:25:22:09 - 00:25:24:01
diagnostics, we've got various

00:25:24:01 - 00:25:26:06
partnerships out there that we're just proud of.

00:25:26:06 - 00:25:27:19
So that image is repeated

00:25:27:19 - 00:25:29:23
in several different projects underway

00:25:29:23 - 00:25:31:14
and there's also patients with other devices

00:25:31:14 - 00:25:32:21
that look like that in them.

00:25:32:21 - 00:25:35:08
So there's RNS device out on the market

00:25:35:08 - 00:25:37:18
that's a fantastic device for epilepsy.

00:25:38:03 - 00:25:40:15
Some patients won't have bone to anchor it too.

00:25:40:15 - 00:25:42:02
So how is that

00:25:42:02 - 00:25:43:16
within a cranioplasty to implant for them?

00:25:43:16 - 00:25:44:18
And the electrodes will come out

00:25:44:18 - 00:25:46:13
underneath, into the brain.

00:25:46:13 - 00:25:47:15
 Therefore, when the patient

00:25:47:15 - 00:25:49:03
then has to get a battery replaced,

00:25:49:03 - 00:25:50:18
they don't actually have to have their

00:25:50:18 - 00:25:51:18
brain exposed again.

00:25:51:18 - 00:25:54:00
They've got a little compartment, like a toy car

00:25:54:00 - 00:25:55:16
where they pop up the plastic,

00:25:55:16 - 00:25:56:15
replace the battery,

00:25:56:15 - 00:25:57:20
and then close the skin over top.

00:25:57:20 - 00:26:00:12
And there was a much less invasive procedure.

00:26:00:12 - 00:26:01:21
So the surgeon would actually have

00:26:01:21 - 00:26:03:22
to make an incision to open it up right?

00:26:03:22 - 00:26:04:19
Right.

00:26:04:19 - 00:26:06:17
And so that's not a commercial product.

00:26:06:17 - 00:26:08:07
That's just like the concept.

00:26:08:07 - 00:26:10:06
So that particular one is a concept,

00:26:10:06 - 00:26:12:04
but we have various products like that

00:26:12:04 - 00:26:13:03
that have been implanted.

00:26:13:03 - 00:26:14:12
And again, there's

00:26:14:12 - 00:26:15:21
a number of different functions out there.

00:26:15:21 - 00:26:16:21
So I'm not trying to

00:26:16:21 - 00:26:18:09
beat around the bush to just, you know,

00:26:18:09 - 00:26:19:06
literally, you know,

00:26:19:06 - 00:26:21:09
different disorders and different needs

00:26:21:09 - 00:26:23:10
that are required from various research

00:26:23:10 - 00:26:25:08
and non research collaborators.

00:26:25:08 - 00:26:26:18
So we do quite a bit of work

00:26:26:18 - 00:26:28:14
in the drug delivery space

00:26:28:14 - 00:26:30:09
here at Key Tech working with,

00:26:30:09 - 00:26:31:22
you know, AstraZeneca, BMS

00:26:31:22 - 00:26:34:16
and you know, body worn infusion pumps and

00:26:35:17 - 00:26:39:11
there’s a lot of talk about design for clinical trials.

00:26:39:23 - 00:26:41:07
So I guess when you're talking

00:26:41:07 - 00:26:43:23
about these various applications and concepts

00:26:43:23 - 00:26:45:10
the first step has to be,

00:26:45:10 - 00:26:47:02
you know, creating a,

00:26:47:02 - 00:26:49:14
a clinical device for use in trials

00:26:49:14 - 00:26:51:04
is that what you're you're targeting?

00:26:51:04 - 00:26:53:03
Or is it kind of animal studies?

00:26:53:03 - 00:26:54:10
So the interesting thing,

00:26:54:10 - 00:26:55:22
it depends on the product, right?

00:26:55:22 - 00:26:57:14
So for our ClearFit product

00:26:57:14 - 00:26:59:12
line were cleared for implantation

00:26:59:12 - 00:27:02:13
and to have ultrasound

00:27:02:21 - 00:27:03:19
passing through it,

00:27:03:19 - 00:27:07:07
which is a pretty broad clearance from the FDA.

00:27:07:07 - 00:27:10:09
So we can frankly skip animals in a lot of cases

00:27:10:09 - 00:27:11:19
because there are thousands of patients

00:27:11:19 - 00:27:13:11
walking around with ClearFits

00:27:13:11 - 00:27:14:08
in their heads today.

00:27:14:08 - 00:27:15:07
And a lot of volunteers

00:27:15:07 - 00:27:16:19
have come out and allowed us to

00:27:16:19 - 00:27:17:18
to map their brain

00:27:17:18 - 00:27:19:03
or to look at various anatomies

00:27:19:03 - 00:27:20:16
or the physicians sort of

00:27:20:16 - 00:27:22:19
normal follow up are giving us the data

00:27:22:19 - 00:27:24:10
so we can learn more about it.

00:27:24:10 - 00:27:27:20
So a lot of our research is in IRBs right now

00:27:27:20 - 00:27:29:23
and in active cases,

00:27:29:23 - 00:27:31:21
there are the more technical you get,

00:27:31:21 - 00:27:33:16
the more batteries, the more function,

00:27:33:16 - 00:27:35:01
the more long term we're looking.

00:27:35:01 - 00:27:37:05
So there are some really exciting projects.

00:27:37:05 - 00:27:39:07
Perron Genomics is a great collaborator of ours

00:27:39:07 - 00:27:40:06
and so we're really excited

00:27:40:06 - 00:27:41:17
about what they're working on.

00:27:41:17 - 00:27:43:04
And there's a number of other partnerships

00:27:43:04 - 00:27:43:23
with BlackRock

00:27:43:23 - 00:27:46:08
and other companies out west.

00:27:47:00 - 00:27:49:06
You know, it's important for us.

00:27:49:06 - 00:27:52:05
We look at the functional platform

00:27:52:05 - 00:27:53:16
that you see in that picture

00:27:53:16 - 00:27:56:13
as kind of like our F1 team.

00:27:56:13 - 00:27:57:23
Ford has an F1 team,

00:27:57:23 - 00:28:00:17
they don't sell the F1 car to everyone, but

00:28:01:04 - 00:28:04:05
trying to make it more efficient, faster, leaner

00:28:04:05 - 00:28:07:21
and in performance enhanced as possible

00:28:08:10 - 00:28:09:12
spins out innovations

00:28:09:12 - 00:28:12:14
that we then see in the Ford Taurus or the F-150.

00:28:12:14 - 00:28:14:03
And that's what we've seen at Longeviti.

00:28:14:03 - 00:28:15:17
So while we work on these projects,

00:28:15:17 - 00:28:17:08
some of which might not see the light of day,

00:28:17:08 - 00:28:19:23
some might really help the masses.

00:28:19:23 - 00:28:21:06
The innovations alone from

00:28:21:06 - 00:28:22:09
problem solving are already

00:28:23:13 - 00:28:24:12
being seen in the market.

00:28:24:12 - 00:28:26:03
So from ultrasound to the envision

00:28:26:03 - 00:28:27:19
housing of technology.

00:28:27:19 - 00:28:30:13
And we're encouraged to then

00:28:30:13 - 00:28:32:08
internally to keep working on this.

00:28:32:08 - 00:28:33:21
As long as we have the revenues

00:28:33:21 - 00:28:36:07
to reinvest in this R&D,

00:28:36:07 - 00:28:37:15
we know that will then spin

00:28:37:15 - 00:28:39:22
out of the low hanging fruit of innovation.

00:28:39:22 - 00:28:41:16
It doesn't have to be the holy grail

00:28:41:16 - 00:28:43:11
of a complete headectomy.

00:28:43:11 - 00:28:45:22
And now you can replace, you know,

00:28:45:22 - 00:28:47:00
your entire brain.

00:28:47:00 - 00:28:48:18
So you mentioned the ultrasound.

00:28:48:18 - 00:28:51:11
Again, just being clear with the ClearFit.

00:28:51:11 - 00:28:52:09
So just

00:28:52:09 - 00:28:53:14
we touched on it earlier,

00:28:53:14 - 00:28:55:20
but just for our audience,

00:28:55:20 - 00:28:59:13
it's only imaging or is it ultrasonic therapy?

00:28:59:13 - 00:29:01:15
So it's ultrasound.

00:29:01:15 - 00:29:03:17
It's ultrasound signals.

00:29:03:17 - 00:29:06:22
So that can be any ultrasound.

00:29:07:17 - 00:29:10:21
If the ultrasound is indicated for imaging,

00:29:10:21 - 00:29:12:11
then it can be used for imaging.

00:29:12:11 - 00:29:15:05
If it's indicated for ablation,

00:29:15:05 - 00:29:18:01
it can be ablated. It's an ultrasound image.

00:29:18:01 - 00:29:19:03
And now we've done studies

00:29:19:03 - 00:29:21:16
to show the attenuation and what's happening

00:29:21:16 - 00:29:23:06
to tissues to understand,

00:29:23:06 - 00:29:24:04
you know, the safety nets.

00:29:24:04 - 00:29:25:04
But just to put a perspective,

00:29:25:04 - 00:29:26:21
ultrasound used directly on the brain,

00:29:26:21 - 00:29:28:04
sometimes intra operatively.

00:29:28:04 - 00:29:30:19
So it's a very safe imaging modality.

00:29:30:19 - 00:29:32:11
It's just using literally Doppler

00:29:32:11 - 00:29:33:22
and sound waves to

00:29:33:22 - 00:29:37:09
to to hear and see and convert that into signals.

00:29:37:09 - 00:29:39:21
All right, quick pivot.

00:29:39:21 - 00:29:42:05
And again, this is an educational podcast.

00:29:42:05 - 00:29:42:22
So,

00:29:43:05 - 00:29:44:18
Jesse, we're looking for some advice

00:29:44:18 - 00:29:48:23
that you might provide to startup companies like yours 

00:29:48:23 - 00:29:52:18
maybe not in your space, but interacting with FDA.

00:29:52:18 - 00:29:54:02
What do you,

00:29:54:02 - 00:29:56:05
and generally regulatory bodies,

00:29:56:05 - 00:29:57:17
what do you recommend for that?

00:29:57:17 - 00:29:58:21
You know, it's changed

00:29:58:21 - 00:30:01:05
since I started Longeviti before the pandemic.

00:30:01:05 - 00:30:03:15
And so my advice today would be lean in

00:30:04:15 - 00:30:07:22
the people that we've worked with at the FDA

00:30:07:22 - 00:30:09:04
have been very receptive

00:30:09:04 - 00:30:11:12
to concerns and questions.

00:30:11:21 - 00:30:12:18
And we've seen that

00:30:12:18 - 00:30:13:22
not just from our own experience,

00:30:13:22 - 00:30:15:09
but other companies in our space

00:30:15:09 - 00:30:16:06
that we've been talking to.

00:30:16:06 - 00:30:18:05
So certainly as of late,

00:30:18:05 - 00:30:19:01
they really take,

00:30:19:01 - 00:30:22:07
you know, enabling innovation safely, seriously.

00:30:23:03 - 00:30:25:01
And so my advice to them,

00:30:25:01 - 00:30:27:06
younger companies would be approach them.

00:30:27:18 - 00:30:28:11
I'm not saying

00:30:28:11 - 00:30:29:20
necessarily go sit down about your

00:30:29:20 - 00:30:32:00
specific product for a

00:30:32:00 - 00:30:33:14
pre-submission, but there

00:30:33:14 - 00:30:34:14
are a number of

00:30:34:14 - 00:30:35:14
venues that you can go

00:30:35:14 - 00:30:38:00
and have conversations with people from the FDA.

00:30:38:00 - 00:30:39:02
So I highly encourage

00:30:39:02 - 00:30:40:12
one of which we took advantage

00:30:40:12 - 00:30:41:20
of was a preceptorship up.

00:30:41:20 - 00:30:44:02
So the FDA had a preceptorship

00:30:44:02 - 00:30:44:23
with Johns Hopkins,

00:30:44:23 - 00:30:47:10
which would send out individuals from the FDA

00:30:47:16 - 00:30:49:03
to startups like ours,

00:30:49:03 - 00:30:51:06
but not in the same market.

00:30:51:06 - 00:30:53:09
So we would have someone from gastrointestinal,

00:30:53:09 - 00:30:55:11
you know, division.

00:30:55:11 - 00:30:56:15
But to learn, you know,

00:30:56:15 - 00:30:58:08
the trade offs of decision

00:30:58:08 - 00:31:00:10
making we were making as a young company

00:31:00:10 - 00:31:02:12
so that they can then go back and talk about it,

00:31:02:12 - 00:31:03:09
how do we make it easier?

00:31:03:09 - 00:31:05:06
Which I thought was very encouraging.

00:31:05:06 - 00:31:06:09
It gave us a great insight,

00:31:06:09 - 00:31:07:06
and it let us know, too,

00:31:07:06 - 00:31:09:00
that there's people behind the FDA

00:31:09:00 - 00:31:10:11
and they're very human.

00:31:10:11 - 00:31:12:09
Most of them there to help.

00:31:12:09 - 00:31:14:04
Yeah, I hadn't heard of the preceptorship,

00:31:14:04 - 00:31:14:23
but that makes sense.

00:31:14:23 - 00:31:17:03
You kind of want this sort of unofficial meeting

00:31:18:01 - 00:31:19:17
with the regulatory body that’s

00:31:19:17 - 00:31:21:20
kind of off the books, maybe

00:31:21:20 - 00:31:22:11
so that you can

00:31:22:11 - 00:31:23:15
you make sure your plan is sound

00:31:23:15 - 00:31:25:12
before you go back in there formally.

00:31:25:12 - 00:31:27:05
Another question for you, Jesse.

00:31:27:05 - 00:31:30:23
So what, you know, being an entrepreneur,

00:31:30:23 - 00:31:32:08
like if you were to go back

00:31:32:08 - 00:31:36:12
and start this again,

00:31:36:12 - 00:31:39:02
what do you think you would do differently.

00:31:39:02 - 00:31:40:06
Man,

00:31:40:06 - 00:31:42:14
so many things just went through my head.

00:31:42:14 - 00:31:45:09
You know, I heard a prior,

00:31:45:09 - 00:31:47:03
from one of our first investors

00:31:47:03 - 00:31:50:05
and it still holds true, hire slow, fire fast.

00:31:50:20 - 00:31:52:09
Our success is really determined

00:31:52:09 - 00:31:53:16
by the caliber of people

00:31:53:16 - 00:31:55:00
we've been able to bring on board.

00:31:55:00 - 00:31:56:07
And we've been successful

00:31:56:07 - 00:31:58:12
because we brought amazing people on board.

00:31:59:11 - 00:32:01:07
And there's still been a couple of instances

00:32:01:07 - 00:32:04:15
where we took too long to bring someone on,

00:32:04:15 - 00:32:06:10
but I had identified them

00:32:06:10 - 00:32:07:04
in several instances

00:32:07:04 - 00:32:09:05
where we didn't have the quite the right fit.

00:32:09:13 - 00:32:11:00
And I think those things lingering

00:32:11:00 - 00:32:13:01
also set us back disproportionately

00:32:13:01 - 00:32:14:16
because of the size of our company.

00:32:14:16 - 00:32:15:15
And it's very delicate

00:32:15:15 - 00:32:18:08
and to talk about on a podcast.

00:32:18:08 - 00:32:19:18
But I'll just say generally,

00:32:19:18 - 00:32:21:20
don’t be afraid to overly vet the people

00:32:21:20 - 00:32:23:19
you're bringing onto your team.

00:32:23:19 - 00:32:24:18
And don't be afraid

00:32:24:18 - 00:32:26:19
if you know it's not a good fit

00:32:26:19 - 00:32:28:16
to have that difficult conversation.

00:32:28:16 - 00:32:31:00
I call it the “are you happy” conversation?

00:32:31:00 - 00:32:33:19
Because if a person is not engaged in a startup,

00:32:34:07 - 00:32:35:20
they're not going to get engaged

00:32:35:20 - 00:32:37:18
and it's only going to linger.

00:32:37:18 - 00:32:40:08
And that can really have a significant impact

00:32:40:08 - 00:32:42:09
when your team is really stretched in bandwidth.

00:32:42:18 - 00:32:45:15
So your culture and your team is so critical

00:32:45:15 - 00:32:47:16
early on. I can't emphasize that enough.

00:32:47:16 - 00:32:50:03
Yeah, I mean, I've found just in the handful of years

00:32:50:03 - 00:32:51:07
I've really been focused on

00:32:51:07 - 00:32:52:12
building the biz dev team

00:32:52:12 - 00:32:54:11
and some of my teammates are on the line here.

00:32:54:11 - 00:32:56:01
So they're going to

00:32:56:01 - 00:32:57:05
they're going to hear this, but,

00:32:57:05 - 00:32:58:10
you know, think things evolve.

00:32:58:10 - 00:32:59:08
That's like one thing

00:32:59:08 - 00:33:00:10
when you're in the hot seat

00:33:00:10 - 00:33:01:07
and it's like

00:33:01:07 - 00:33:02:22
you need to place these bets

00:33:02:22 - 00:33:04:14
and you don't know

00:33:04:14 - 00:33:06:04
what four years is going to look like.

00:33:06:04 - 00:33:07:15
And, you know,

00:33:07:15 - 00:33:08:23
I try to look for like people

00:33:08:23 - 00:33:11:19
with leadership qualities who, you know, are,

00:33:12:12 - 00:33:14:02
you know, can can wear a lot of hats,

00:33:14:02 - 00:33:16:20
but also know how to focus and get shit done

00:33:17:08 - 00:33:19:00
when things like need to get done.

00:33:19:00 - 00:33:20:17
And and then six months later,

00:33:20:17 - 00:33:22:14
when things kind of pivot a little bit,

00:33:22:14 - 00:33:24:11
you have to kind of, change course,

00:33:24:11 - 00:33:26:01
but you're generally heading

00:33:26:01 - 00:33:27:00
in the right direction.

00:33:27:00 - 00:33:27:23
That's what I look for.

00:33:27:23 - 00:33:30:05
But I'm only running a handful of folks.

00:33:30:05 - 00:33:31:09
I'm not running a full company.

00:33:31:09 - 00:33:34:03
So I recognize the challenge where you sit, where

00:33:35:15 - 00:33:36:21
where you really need to kind

00:33:36:21 - 00:33:38:07
of build out a org chart.

00:33:38:07 - 00:33:40:09
And they're very specialized,

00:33:40:09 - 00:33:42:02
you know, roles you need to fill.

00:33:42:02 - 00:33:43:01
But to that point,

00:33:43:01 - 00:33:44:12
what I found as a father,

00:33:44:12 - 00:33:46:01
as a manager, as a director,

00:33:46:01 - 00:33:50:19
and as a CEO, that, you know, intrinsic value.

00:33:50:19 - 00:33:52:12
And well,

00:33:52:12 - 00:33:53:10
let me just say, as a father,

00:33:53:10 - 00:33:54:16
free will is a bitch, right.

00:33:54:16 - 00:33:55:08
You know,

00:33:55:08 - 00:33:58:10
making someone do something is almost impossible.

00:33:58:10 - 00:33:59:23
You need them to want to do it.

00:33:59:23 - 00:34:01:23
And so that gets back to what it makes you

00:34:01:23 - 00:34:03:13
maybe a good father is probably

00:34:03:13 - 00:34:04:20
what's going to make you a good manager

00:34:04:20 - 00:34:06:02
and maybe a good CEO,

00:34:06:02 - 00:34:08:13
because you need to hold people accountable

00:34:08:13 - 00:34:09:02
on the mission,

00:34:09:02 - 00:34:09:19
but you need to understand

00:34:09:19 - 00:34:10:16
where they're coming from

00:34:10:16 - 00:34:13:04
and make sure that they're a good fit for them.

00:34:13:04 - 00:34:14:21
And because if it's not a good fit for them,

00:34:14:21 - 00:34:15:23
you're never going to

00:34:15:23 - 00:34:17:03
the second you turn your back

00:34:17:03 - 00:34:18:07
or the second you can't, you know,

00:34:18:07 - 00:34:19:10
do a certain thing.

00:34:19:10 - 00:34:21:18
You can't expect them to do it just on their own.

00:34:22:05 - 00:34:23:09
But I'll say that, you know, that, 

00:34:23:09 - 00:34:25:13
the core tenets of good management.

00:34:25:13 - 00:34:26:05
Like I said,

00:34:26:05 - 00:34:28:11
I feel like the laws of physics to me,

00:34:28:11 - 00:34:30:22
very simple and scale,

00:34:30:22 - 00:34:33:04
humble, hardworking and hungry,

00:34:33:04 - 00:34:35:07
how are people that people like to work with

00:34:35:07 - 00:34:36:17
that are hardworking and smart

00:34:36:17 - 00:34:38:07
and you've got a great team

00:34:38:07 - 00:34:39:14
once you hire them, don't lie,

00:34:39:14 - 00:34:41:06
don’t cheat, don't steal.

00:34:41:06 - 00:34:42:09
It's simple enough.

00:34:42:09 - 00:34:43:18
Those are fireable offences.

00:34:43:18 - 00:34:45:05
This shouldn't be an excuse to do this

00:34:45:05 - 00:34:46:13
if you hire the right people.

00:34:46:13 - 00:34:48:07
But then, look, you know, to your point,

00:34:48:07 - 00:34:50:05
change happens and should happen.

00:34:50:05 - 00:34:51:08
So you need to have a very 

00:34:51:08 - 00:34:52:23
transparent, supportive team

00:34:52:23 - 00:34:55:11
so you can weather those things together.

00:34:55:11 - 00:34:58:01
If sales are down, it shouldn't be on

00:34:58:01 - 00:34:59:02
one person's shoulders.

00:34:59:02 - 00:35:00:12
If they're doing everything they can

00:35:00:12 - 00:35:01:19
and executing the strategy,

00:35:01:19 - 00:35:02:07
it should be,

00:35:02:07 - 00:35:05:15
how can we help this person get better resources?

00:35:05:15 - 00:35:07:07
So when it comes down to it, 

00:35:07:07 - 00:35:09:17
it's, you know, humble, hardworking, hungry,

00:35:10:02 - 00:35:11:14
don't lie, don't cheat, don't steal.

00:35:11:14 - 00:35:13:15
And then after that, it's just regular,

00:35:14:00 - 00:35:15:07
predictable communication.

00:35:15:07 - 00:35:17:20
So every year, in fact, next month's,

00:35:17:20 - 00:35:19:05
when we have our meeting,

00:35:19:05 - 00:35:20:07
I get a wall calendar

00:35:20:07 - 00:35:22:01
and we put every single society meeting,

00:35:22:01 - 00:35:24:13
every conference, every executive meeting,

00:35:24:13 - 00:35:25:11
every weekly meeting,

00:35:25:11 - 00:35:26:11
every team’s meeting,

00:35:26:11 - 00:35:28:03
everything we possibly can think of

00:35:28:03 - 00:35:29:00
on one calendar.

00:35:29:00 - 00:35:30:20
So we can see it as a visualization

00:35:30:20 - 00:35:31:08
and understand

00:35:31:08 - 00:35:33:01
when our real crunch times

00:35:33:01 - 00:35:34:08
are going to be throughout the year.

00:35:34:08 - 00:35:36:01
But that also then sets the expectation

00:35:36:01 - 00:35:37:01
for the entire team

00:35:37:01 - 00:35:38:04
that then waterfalls down

00:35:38:04 - 00:35:40:04
is that we're running out a clock here.

00:35:40:13 - 00:35:42:04
And also it helps our collaborators

00:35:42:04 - 00:35:43:03
that know, you know,

00:35:43:03 - 00:35:44:02
we've already got our whole year

00:35:44:02 - 00:35:45:23
planned our budgets planning

00:35:45:23 - 00:35:47:23
now you know, two of my favorite quotes are

00:35:47:23 - 00:35:51:09
“If you fail to plan, you plan to fail.” Right.

00:35:51:09 - 00:35:53:00
Is that Eisenhower or somebody like that?

00:35:53:00 - 00:35:54:17
And then “Everybody has a plan

00:35:54:17 - 00:35:56:09
until they get punched in the face.” Right.

00:35:56:09 - 00:35:57:20
You know, we've heard these a lot of times.

00:35:57:20 - 00:35:58:22
That's Mike Tyson.

00:35:58:22 - 00:36:00:04
So these are both true. Right.

00:36:00:04 - 00:36:02:00
And so I try to remind my team, yes,

00:36:02:00 - 00:36:03:00
we're making this plan.

00:36:03:00 - 00:36:04:15
Yes, we're making a wall calendar every year.

00:36:04:15 - 00:36:06:22
And some year there might be a pandemic

00:36:06:22 - 00:36:08:00
that's completely erases it.

00:36:08:00 - 00:36:10:00
But that exercise

00:36:10:00 - 00:36:11:07
forces us to work through things

00:36:11:07 - 00:36:13:12
and sets a really comfortable environment

00:36:13:12 - 00:36:15:04
for us to openly talk

00:36:15:04 - 00:36:16:05
about the struggles

00:36:16:05 - 00:36:17:20
and obstacles in each department

00:36:17:20 - 00:36:19:08
or person's place.

00:36:19:08 - 00:36:21:13
So, you know, the communication and

00:36:22:09 - 00:36:24:01
the openness to talk about change to

00:36:24:01 - 00:36:25:11
your point is really critical.

00:36:25:11 - 00:36:29:07
Yeah, it's also helpful to have those like

00:36:30:02 - 00:36:31:15
challenging conversations

00:36:31:15 - 00:36:33:12
when things aren't going well,

00:36:33:12 - 00:36:36:04
when everyone knows like that higher level

00:36:36:04 - 00:36:37:01
like plan.

00:36:37:01 - 00:36:38:18
I feel like that's really important

00:36:38:18 - 00:36:39:06
because otherwise

00:36:39:06 - 00:36:40:22
people feel threatened or, you know,

00:36:40:22 - 00:36:42:16
they just, at least that's how I operate.

00:36:42:16 - 00:36:44:13
I want everyone to kind of know what's going on.

00:36:44:13 - 00:36:46:16
So when it's just like, okay, this one little,

00:36:46:23 - 00:36:49:00
little cog isn't working well,

00:36:49:00 - 00:36:50:10
there's a larger wheel happening.

00:36:50:10 - 00:36:51:13
This cog is important.

00:36:51:13 - 00:36:52:11
Yeah, you know, it's funny

00:36:52:11 - 00:36:54:13
you said that, because by being transparent

00:36:54:13 - 00:36:56:05
and putting the obstacles out in the open,

00:36:56:05 - 00:36:57:20
you can help people save face

00:36:57:20 - 00:36:59:19
that otherwise, it might linger.

00:36:59:19 - 00:37:01:13
And there's a funny statistic

00:37:01:13 - 00:37:03:06
I heard about driving,

00:37:03:06 - 00:37:04:03
nine times out of ten,

00:37:04:03 - 00:37:05:01
when somebody cuts you off,

00:37:05:01 - 00:37:05:23
it's for a reason

00:37:05:23 - 00:37:07:06
that they might not even see you.

00:37:07:06 - 00:37:08:19
But nine out of ten times

00:37:08:19 - 00:37:10:03
we think that person's doing it

00:37:10:03 - 00:37:11:11
because they just want to cut us off

00:37:11:11 - 00:37:12:20
and be a jerk, right?

00:37:12:20 - 00:37:13:11
So as a company,

00:37:13:11 - 00:37:14:22
we try to, you know, get ahead of that.

00:37:14:22 - 00:37:15:15
And, you know,

00:37:15:15 - 00:37:17:02
there's a bunch of humans here

00:37:17:02 - 00:37:19:00
and we really want to respect their lives, too.

00:37:19:00 - 00:37:21:12
Yeah, so one other follow up question to your comment

00:37:21:12 - 00:37:24:04
about regular predictable communication.

00:37:24:04 - 00:37:25:12
And one of the things that,

00:37:25:12 - 00:37:26:05
you know, as Key Tech

00:37:26:05 - 00:37:27:21
continues to grow,

00:37:27:21 - 00:37:29:09
we're trying to solve and I'm curious

00:37:29:09 - 00:37:31:08
how you're doing this just

00:37:31:08 - 00:37:33:14
I mean, there's like communicating the plan,

00:37:34:03 - 00:37:36:10
but then there's like all this information

00:37:36:10 - 00:37:38:06
that's coming into your organization,

00:37:38:06 - 00:37:39:16
you know, daily

00:37:39:16 - 00:37:42:13
that decisions are made, you know, all around.

00:37:43:00 - 00:37:46:13
How are you disseminating information, technical

00:37:46:13 - 00:37:48:15
information, insights from UPenn and,

00:37:49:00 - 00:37:50:18
you know, wherever else, Northwell, and,

00:37:50:18 - 00:37:51:23
all these places

00:37:51:23 - 00:37:53:16
that could affect some phone call

00:37:53:16 - 00:37:54:17
you're about to make.

00:37:54:17 - 00:37:56:02
You know, at four in the afternoon.

00:37:56:02 - 00:37:57:22
You know, that's my nightmare, is not being able

00:37:57:22 - 00:37:59:15
to keep up. The industry we're in

00:37:59:15 - 00:38:00:21
and the size of our company is

00:38:00:21 - 00:38:03:08
fairly mismatch. There's a lot happening.

00:38:03:08 - 00:38:05:07
And so I wake up every morning, you know,

00:38:05:07 - 00:38:06:07
what's happening that

00:38:06:07 - 00:38:08:09
I need to know, that our team needs to know,

00:38:08:09 - 00:38:10:20
and visa versa, that we need to communicate.

00:38:10:20 - 00:38:12:06
We try to just, you know,

00:38:12:06 - 00:38:14:07
again, overly communicate

00:38:14:07 - 00:38:16:00
on all the platforms that you see.

00:38:16:00 - 00:38:17:19
We've got a really good support

00:38:17:19 - 00:38:19:15
group of physicians that keep us informed.

00:38:19:15 - 00:38:22:15
So from texts, to reading articles, you know,

00:38:23:12 - 00:38:24:17
from Pitchbook, frankly,

00:38:24:17 - 00:38:26:10
Pitchbook is one of the best

00:38:26:10 - 00:38:28:12
applications that we pay for as a company.

00:38:28:12 - 00:38:29:12
It's an investor tool,

00:38:29:12 - 00:38:30:19
but it gives you a really good insight

00:38:30:19 - 00:38:31:19
into the private markets.

00:38:31:19 - 00:38:32:10
So every morning

00:38:32:10 - 00:38:34:01
I start off looking at Pitchbook.

00:38:34:01 - 00:38:35:14
What are you looking for in Pitchbook?

00:38:35:14 - 00:38:38:15
I monitor two groups, I monitor the investors,

00:38:38:15 - 00:38:40:05
in the neurosurgical

00:38:40:05 - 00:38:41:15
who's investing in neuro tech.

00:38:41:15 - 00:38:43:16
And I'm also monitoring those companies and

00:38:43:16 - 00:38:45:20
and what they're doing so you know

00:38:46:19 - 00:38:48:18
who's got recent FDA clearances,

00:38:48:18 - 00:38:50:01
 who's buying who,

00:38:50:01 - 00:38:52:12
who's moving internationally,

00:38:52:12 - 00:38:55:12
what research programs have just been launched,

00:38:56:09 - 00:38:57:07
who got fired?

00:38:57:07 - 00:38:59:04
You know, it's informative.

00:38:59:04 - 00:39:00:17
So not to put a plug for Pitchbook,

00:39:00:17 - 00:39:02:21
but I find a valuable, certainly for raises too.

00:39:02:21 - 00:39:03:11
It's not cheap.

00:39:03:11 - 00:39:04:06
Or for a young company

00:39:04:06 - 00:39:07:05
going through rounds of funding,

00:39:07:19 - 00:39:08:23
you kind of have a leg up

00:39:08:23 - 00:39:10:08
as opposed to companies that don't.

00:39:10:08 - 00:39:11:13
It's the tool that we found

00:39:11:13 - 00:39:13:09
most of the VCs are using anyways.

00:39:13:09 - 00:39:15:05
So the state of Maryland

00:39:15:05 - 00:39:16:14
so you mentioned that you're on this

00:39:16:14 - 00:39:17:21
life sciences.

00:39:17:21 - 00:39:19:11
Is it the Life Sciences Advisory Board,

00:39:19:11 - 00:39:20:06
is that right?

00:39:20:06 - 00:39:21:12
That is right.

00:39:21:12 - 00:39:23:20
Can you talk a little bit about what that is

00:39:23:20 - 00:39:25:21
and what some of those initiatives are,

00:39:25:21 - 00:39:27:19
and how you're partaking in that?

00:39:27:19 - 00:39:29:18
Yeah, it's a great group,

00:39:29:18 - 00:39:31:17
as you know, through its name.

00:39:31:17 - 00:39:34:15
It's trying to foster, both the economies

00:39:34:15 - 00:39:35:22
and the technical skill

00:39:35:22 - 00:39:37:17
sets of our local community

00:39:37:17 - 00:39:39:05
in the areas of health care.

00:39:39:05 - 00:39:42:01
So Maryland is health care rich

00:39:42:01 - 00:39:44:10
from literally having a NIH and the FDA

00:39:44:10 - 00:39:45:09
government facilities

00:39:45:09 - 00:39:49:01
Walter Reed in that state or adjacent to the,

00:39:49:09 - 00:39:49:17
you know,

00:39:49:17 - 00:39:51:05
the first academic teaching

00:39:51:05 - 00:39:52:14
hospital in the country,

00:39:52:14 - 00:39:54:07
Johns Hopkins, to,

00:39:54:07 - 00:39:55:14
you know, other great facilities

00:39:55:14 - 00:39:56:18
like the University of Maryland.

00:39:56:18 - 00:39:58:12
So it’s a fantastic state

00:39:58:12 - 00:40:00:17
and a great fishbowl for its size

00:40:00:22 - 00:40:02:14
and frankly, proximity.

00:40:02:14 - 00:40:03:21
We've really benefited from it

00:40:03:21 - 00:40:05:05
as a company at Longeviti,

00:40:05:05 - 00:40:06:00
which was why

00:40:06:00 - 00:40:08:00
I was really turned on to this ecosystem.

00:40:08:00 - 00:40:09:09
I wanted to learn more,

00:40:09:09 - 00:40:11:01
and the Department of Commerce had this program,

00:40:11:01 - 00:40:12:07
which was fantastic.

00:40:12:07 - 00:40:14:22
So, you know, we meet quarterly

00:40:14:22 - 00:40:16:06
and there's several initiatives.

00:40:16:06 - 00:40:18:14
You know, interestingly, coming out of COVID,

00:40:18:14 - 00:40:19:17
a lot of it was out of whack.

00:40:19:17 - 00:40:21:22
But mostly it's around job creation.

00:40:21:22 - 00:40:25:10
It's around tapping into the generational education

00:40:25:10 - 00:40:26:15
that we have here.

00:40:26:15 - 00:40:28:15
How can we take kids from Baltimore City,

00:40:28:15 - 00:40:30:02
plug them into the communities

00:40:30:02 - 00:40:31:09
and really teach them trades

00:40:31:09 - 00:40:32:17
that are relevant locally

00:40:32:17 - 00:40:33:16
with all the health care

00:40:33:16 - 00:40:35:05
that's going on, from the hospitals to

00:40:35:05 - 00:40:36:09
the industry to government.

00:40:37:08 - 00:40:39:11
And there's various programs from tax incentives.

00:40:39:11 - 00:40:40:17
One is which is fantastic

00:40:40:17 - 00:40:42:10
is the Bitsy, actually I,

00:40:42:10 - 00:40:43:08
I got a bite my lip,

00:40:43:08 - 00:40:45:12
I think we're still doing the Bitsy.

00:40:45:12 - 00:40:47:05
But it's been a great tax incentive

00:40:47:05 - 00:40:48:09
that we benefited from,

00:40:48:09 - 00:40:50:00
which essentially gives investors

00:40:50:00 - 00:40:52:09
who invest in Maryland based companies

00:40:52:09 - 00:40:53:16
half of their investment back.

00:40:53:16 - 00:40:55:17
So look into that if you haven’t

00:40:55:17 - 00:40:57:20
whoever's listening. Yeah.

00:40:57:20 - 00:41:00:15
And so again from proximity to just welcome this

00:41:00:15 - 00:41:02:15
we like to state that the board

00:41:02:15 - 00:41:04:22
the Life Science Advisory Board is well run.

00:41:04:22 - 00:41:05:17
You've got

00:41:05:21 - 00:41:07:22
individuals that are executives from, you know,

00:41:07:22 - 00:41:10:21
Fortune 100 companies to startups like myself

00:41:10:21 - 00:41:12:18
and non-executives, frankly.

00:41:12:18 - 00:41:14:10
So it's a really good mix of people

00:41:14:10 - 00:41:16:03
that are volunteering their time

00:41:16:03 - 00:41:17:00
because they care.

00:41:17:00 - 00:41:19:10
The projects are fairly robust too, 

00:41:19:10 - 00:41:21:20
good analysis and workshops

00:41:21:20 - 00:41:24:11
on understanding our local landscape.

00:41:24:11 - 00:41:26:14
How many bio jobs do we have

00:41:26:14 - 00:41:27:16
and why aren't we hiring them?

00:41:27:16 - 00:41:29:14
Oh well, it's because nobody knows that

00:41:29:14 - 00:41:31:05
they're actually trained in bio skills,

00:41:31:05 - 00:41:33:10
like let's teach them what that means.

00:41:33:10 - 00:41:33:22
It’s the same thing

00:41:33:22 - 00:41:36:03
as automotive industry a lot of time

00:41:36:03 - 00:41:38:11
so let's let's talk about that

00:41:38:11 - 00:41:39:23
so you know those types of conversations

00:41:39:23 - 00:41:43:04
really uncover through our,

00:41:43:04 - 00:41:44:14
you know, our own anecdotes

00:41:44:14 - 00:41:45:16
what we might as a team

00:41:45:16 - 00:41:46:22
do to help the state.

00:41:46:22 - 00:41:50:08
Yeah, we don't have much exposure to more of the,

00:41:50:14 - 00:41:53:14
I guess the bureaucratic is not the right word

00:41:53:14 - 00:41:55:15
but you know, like the life science,

00:41:56:10 - 00:41:57:15
the advisory board type of things.

00:41:57:15 - 00:41:58:14
I mean, certainly we,

00:41:58:14 - 00:41:59:09
you know, TEDCO,

00:41:59:09 - 00:42:01:18
and you know, we're obviously active in Maryland.

00:42:01:18 - 00:42:03:13
So, I need to read up on it

00:42:03:13 - 00:42:04:14
to see if there are some events

00:42:04:14 - 00:42:05:13
we should consider.

00:42:05:13 - 00:42:08:12
I would say that they're very eager

00:42:08:12 - 00:42:09:14
and there's some great programs.

00:42:09:14 - 00:42:11:06
And being Maryland based

00:42:11:06 - 00:42:13:01
not to get to Maryland focused on your podcast.

00:42:13:01 - 00:42:14:15
But you know like every state,

00:42:14:15 - 00:42:15:17
we would all benefit

00:42:15:17 - 00:42:18:01
if these groups could get together quicker.

00:42:18:10 - 00:42:20:16
It's all too often,

00:42:20:16 - 00:42:21:23
I've found out myself

00:42:21:23 - 00:42:23:03
there's a group working on something

00:42:23:03 - 00:42:25:07
we totally were synergistic for

00:42:25:07 - 00:42:27:05
but didn't meet for three years after that.

00:42:27:05 - 00:42:29:09
How can we speed up these introductions?

00:42:29:09 - 00:42:30:02
So in Maryland,

00:42:30:02 - 00:42:32:12
you know, I hope that they're able to do that.

00:42:32:12 - 00:42:33:09
And I encourage everyone

00:42:33:09 - 00:42:35:04
to kind of continue

00:42:35:04 - 00:42:37:03
their engagement with the Maryland Life

00:42:37:03 - 00:42:38:07
Science Advisory Board, if they could.

00:42:38:07 - 00:42:40:01
I mean, you guys came came out of nowhere.

00:42:40:01 - 00:42:42:04
And I feel like that's a common,

00:42:42:04 - 00:42:44:05
common theme, which is, you know, 

00:42:44:05 - 00:42:45:05
I feel like every year,

00:42:45:05 - 00:42:47:07
every six months, you're starting to see,

00:42:48:21 - 00:42:53:07
acquisitions and large investment sums

00:42:53:07 - 00:42:55:20
going to these companies that are in our ecosystem.

00:42:55:20 - 00:42:58:01
So it's great to see.

00:42:58:17 - 00:42:59:19
Going back to the marathon, it's

00:42:59:19 - 00:43:00:14
definitely a marathon

00:43:00:14 - 00:43:01:18
and you know, we're nowhere

00:43:01:18 - 00:43:02:22
near some of those other hotbeds.

00:43:02:22 - 00:43:05:14
But appreciate your work there, Jesse.

00:43:05:14 - 00:43:07:06
Yeah, indeed. It's a great team.

00:43:07:06 - 00:43:09:17
So, you know, I think we're about out of time.

00:43:09:17 - 00:43:10:01
You know,

00:43:10:01 - 00:43:10:20
I really appreciate you

00:43:10:20 - 00:43:14:04
coming on, Jesse, and sharing your story

00:43:14:15 - 00:43:16:14
and, you know, some of the challenges

00:43:16:14 - 00:43:17:15
you've had to overcome

00:43:17:15 - 00:43:20:21
and whether it's hiring or focus.

00:43:20:21 - 00:43:22:03
And I really appreciate

00:43:22:03 - 00:43:23:12
so some of those takeaways.

00:43:23:12 - 00:43:26:03
I'm just going to kind of share my highlights

00:43:26:03 - 00:43:27:14
while you're on the line.

00:43:27:14 - 00:43:29:20
One thing that really jumped out at me, the,

00:43:31:02 - 00:43:33:06
physician advocacy

00:43:33:06 - 00:43:35:09
on this podcast, we're always talking about

00:43:35:09 - 00:43:37:23
talk to the user, talk to the, you know,

00:43:38:07 - 00:43:40:03
just focus on the end user.

00:43:40:03 - 00:43:42:02
I don't think I've ever mentioned

00:43:42:02 - 00:43:43:03
the word patient.

00:43:43:03 - 00:43:45:14
And I think that I mean, sometimes the patient

00:43:45:14 - 00:43:48:01
is the end user for sort of home devices, but.

00:43:48:01 - 00:43:49:18
That's how we consider it.

00:43:49:18 - 00:43:51:10
Yeah, you're definitely a sales guy

00:43:51:10 - 00:43:53:13
and you got to keep the patient happy.

00:43:53:13 - 00:43:53:22
But

00:43:54:18 - 00:43:56:04
I thought that was really, really insightful

00:43:56:04 - 00:43:56:22
and definitely something I'm

00:43:56:22 - 00:43:57:15
going to, you know,

00:43:57:15 - 00:44:00:06
start falling into my vernacular more

00:44:00:06 - 00:44:01:11
and just talk about the patient

00:44:01:11 - 00:44:03:19
and the physician at the same time.

00:44:04:13 - 00:44:06:16
The other the other takeaway, I think, was

00:44:07:13 - 00:44:10:11
just this this whole window into a whole universe

00:44:10:11 - 00:44:11:08
that you're opening up

00:44:11:08 - 00:44:14:14
with diagnostics of the brain and time is tissue.

00:44:14:14 - 00:44:16:14
And there's there's got to be countless

00:44:16:14 - 00:44:18:18
different sort of initiatives you could pursue

00:44:19:08 - 00:44:19:23
kind of a fan

00:44:19:23 - 00:44:20:19
just kind of seeing where

00:44:20:19 - 00:44:22:01
that where that ends up for you.

00:44:22:01 - 00:44:23:19
And hopefully you can get some,

00:44:25:00 - 00:44:26:15
you know, some big partnerships

00:44:26:15 - 00:44:28:15
with either global pharma

00:44:28:15 - 00:44:29:20
or some of these universities

00:44:29:20 - 00:44:31:01
to really accelerate some of that

00:44:31:01 - 00:44:33:16
because people are struggling.

00:44:33:16 - 00:44:36:14
I mean, like people are getting older and,

00:44:36:14 - 00:44:40:00
there's definitely a need for better diagnostics

00:44:41:04 - 00:44:44:00
and not just like saving the hour

00:44:44:00 - 00:44:46:11
to wheel someone to an MRI or CT,

00:44:46:11 - 00:44:48:22
but like getting it faster and I’m sure ultrasound,

00:44:49:04 - 00:44:50:07
I don't know the details

00:44:50:07 - 00:44:53:14
of the resolution and specificity of ultrasound

00:44:53:14 - 00:44:55:09
versus MR and CT,

00:44:55:09 - 00:44:56:15
but, you know, all that,

00:44:56:15 - 00:44:58:21
I'm sure is, is heading in the right direction.

00:44:59:11 - 00:45:01:00
Well, thanks. It is exciting. Yeah.

00:45:01:00 - 00:45:03:07
Yeah, the preceptor thing

00:45:03:07 - 00:45:05:16
also I hadn't heard about so definitely going to,

00:45:06:01 - 00:45:07:16
you know, throw that out to, you know,

00:45:07:16 - 00:45:10:00
the startup companies that me

00:45:10:00 - 00:45:11:19
and other people of Key Tech are,

00:45:11:19 - 00:45:12:23
you know, interfacing with.

00:45:12:23 - 00:45:15:12
And then also some of your insights about,

00:45:16:07 - 00:45:19:08
you know, like leadership and communication and,

00:45:20:07 - 00:45:21:11
you know, just consistency

00:45:21:11 - 00:45:23:07
was the word that kind of jumped out at me.

00:45:23:07 - 00:45:27:15
Jesse of, you know, there's no excuses

00:45:27:15 - 00:45:30:06
if you have to report out ahead of, 

00:45:30:06 - 00:45:32:19
stay ahead of that bad news or or good news.

00:45:32:19 - 00:45:34:18
So again, I appreciate your your insights.

00:45:34:18 - 00:45:35:10
This is not

00:45:35:10 - 00:45:37:06
intended to be sort of like a TED talk

00:45:37:06 - 00:45:38:18
or anything like that, but

00:45:38:18 - 00:45:40:13
we're trying to like, you know,

00:45:40:13 - 00:45:41:15
bring it full circle here

00:45:41:15 - 00:45:42:17
at the end of these episodes.

00:45:42:17 - 00:45:44:12
And I feel like your episode

00:45:44:12 - 00:45:45:05
at a most kind of

00:45:45:05 - 00:45:47:15
had a lot of like good insights I think

00:45:48:18 - 00:45:50:13
for people trying to do what you're doing.

00:45:50:13 - 00:45:52:08
And I appreciate the summary too

00:45:52:08 - 00:45:55:00
because I do think my personal experience

00:45:55:00 - 00:45:56:14
has been well rounded.

00:45:56:14 - 00:45:57:21
I don't want anybody who,

00:45:57:21 - 00:46:00:09
you know, reads about us to think that I

00:46:00:15 - 00:46:02:22
or any founder should be doing it all.

00:46:02:22 - 00:46:04:05
It's quite the opposite.

00:46:04:05 - 00:46:06:04
So, you know, hopefully that came through.

00:46:06:04 - 00:46:07:08
There are some very,

00:46:07:08 - 00:46:08:01
you know,

00:46:08:01 - 00:46:09:16
laws of physics type of management

00:46:09:16 - 00:46:10:14
that can apply to everything.

00:46:10:14 - 00:46:11:05
But outside of that,

00:46:11:05 - 00:46:12:18
you really need some great people around you.

00:46:12:18 - 00:46:13:23
Which you know.

00:46:13:23 - 00:46:15:06
Well, again, thanks for your time, Jesse.

00:46:15:06 - 00:46:16:00
Appreciate it.

00:46:16:00 - 00:46:17:00
Thanks Andy.