Question 1

Hi, I'm Sherwood Neiss, managing partner at D3VC.ai. We are an early-stage venture fund that invests in select RegCF offerings. Yours scored high on our algorithm, and we had a chance to begin diligence. During our recent investment committee call, the following questions came...

Accepted Answer

Hi Sherwood - I appreciate your message and your interest in our work. My apologies for the delay I'm not great with these messages, but will start using the platform more. Also I'm happy to discuss a direct investment if you'd like so that you can be directly on our cap table. My responses to these two questions are as follows: 1. The device sensitivity in the FDA pivotal study (22 study centers, led by Mayo clinic) with over 1,000 patients, over 1,500 lesions and over 200 skin cancers repor...

Question 2

Hi, What is the value proposition for physicians? Is it covered by insurance? Thanks!! Ed Z

Accepted Answer

Great question! There are many clinical value propositions, e.g. objective cancer risk data, improved cancer detection, patient communication and referral compliance, etc. With regard to improved cancer detection, our FDA pivotal study with over 100 physicians showed that device use cuts their missed cancers by over 50%. With regard to reimbursement, the CPT code most commonly used is 96999. From the data the company has received, physicians' payments from paid insurance claims average over $...

Question 3

Great product! The more we can get from our annual checkup the better in my opinion. Two questions: 1. How many units on average does a new clinic subscribe to or purchase? 2. How does the effectiveness vary with darker skin tones? Is it safe to assume there are continuing eff...

Accepted Answer

I appreciate the kind words, and thanks for those two questions. For #1, most clinic customers are small so they typically use one device. But for larger locations we recommend one device for every 3-5 providers. For #2, we have conducted several validation studies and there have been no device performance differences observed based on skin type. While skin cancer is much more rare in darker skin types so we are collecting more data on those patients accordingly, the FDA did NOT restrict our ...

Question 4

What is the exit plan (acquisition, IPO, merger, etc.) in which investors will be able to see a ROI?

Accepted Answer

It is hard to speculate on exactly how and when exit timing would occur, but an IPO is certainly of interest in coming years given how large the market is and since DermaSensor is already the market leader in many ways. However, companies like ours are typically acquired by larger companies that have existing large sales forces with similar products and call points. For example, Baxter acquired Welch Allyn/Hillrom for ~$10 billion, who is a leader in monitoring devices, diagnostics and physic...

Question 5

I have been on a tear investing in companies in the healthcare, medical space. tons of clinics, surgery centers all kinds of stuff. 184 companies in my portfolio. your product seems amazing. my biggest concern is your financials I have never seen anything like it, not in a goo...

Accepted Answer

Hi John, All great questions having dug into the numbers. With regard to your questions about expenses, at a high level the answer is that we invested significantly in building a strong foundation for future success since this is a first-in-class product with a huge market size. For example, with advertising that $900k figure combines direct advertising with our broader marketing spend, not media buys alone. DermaSensor is the first FDA-cleared AI device of its kind for primary care physician...

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