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DyAnsys Inc. |
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June 29, 2015 Issue |
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The Most Powerful Name In Corporate News and Information |
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Advanced Medical Diagnostic and Monitoring Systems |
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CEO
DyAnsys Inc.
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – June 29, 2015
CEOCFO: Mr. Nageshwar, what is the concept behind DyAnsys? Mr. Nageshwar: We established the company based on measuring medical quantities and electrical measurements of medical parameters. The first parameter and the one that we really focused on was the measurement and monitoring of the Autonomic Nervous System (ANS).
CEOCFO: Why was that the place to start? Mr. Nageshwar: We wanted to do non-invasive testing that did not involve bodily fluids with hygiene and sanitation issues. Therefore, we wanted to deal with electrical signals, and the ECG signal is the best electrical signal that emanates out of the body. The ECG signal contains information about the Autonomic Nervous System. The ANS is important because it is an internal nervous system that drives all of your internal organs such as the heart, kidneys and lungs, which work involuntarily without your control. Typically, if the ANS starts misbehaving and continues like that, then one of the organs could get affected and give you a problem.
CEOCFO: What are you able to bring to market that others have not? Mr. Nageshwar: There are no Autonomic Nervous System devices available in the marketplace. You cannot go to a doctor today and have him or her check you out and tell you whether your Autonomic Nervous System is in good shape or not. Typically if the Autonomic Nervous System starts misbehaving and continues like that, an organ may be affected and give you a problem. Very often, the heart is affected and puts you at risk of cardiovascular disease. If you are able to monitor the ANS, you can get early warning signs. We are the first company in the world that is able to provide this kind of information.
CEOCFO: Has the medical community been looking for a way to measure the Autonomic Nervous System? Mr. Nageshwar: For a long time it was not even on the radar screen for the medical community because many people did not understand it very well and there was no way to measure it and look at it. However, with all of the new focus on wellness and fitness, people are starting to engage with this area. One of the areas where we are using this very heavily in is the monitoring and treatment of chronic pain.
CEOCFO: Would you tell us about your new device? Mr. Nageshwar: What we have introduced is a device that will treat chronic pain. Our device is called the ANSiStim™. It is placed on the ear and releases electrical pulses that stimulate the release of endorphins, the body’s own pain medication. The patient wears it for four days. Typically it takes between 8 and 10 weekly applications. The treatment is measured by our Autonomic Nervous System monitoring device. You can actually physically see the Autonomic Nervous System starting to improve as the treatment goes along.
CEOCFO: What else does the device do that causes the improvement? Mr. Nageshwar: There are two things. One mechanism that I mentioned earlier is the release of endorphins, which is understood. However, there is another mechanism that is not understood. We believe that the pain was originally related to something that was wrong with the body. Whatever the caused the pain has ended, but the brain continues to send pain signals. We believe that our device disrupts these signals and essentially reprograms the brain.
CEOCFO: Are there any side effects? Mr. Nageshwar: There are no side effects to treating chronic pain with ANSiStim because there are no drugs involved. The treatment itself is not harmful in any way.
CEOCFO: Where are you in the process of commercialization? Mr. Nageshwar: We have FDA clearance and we are now in the process of selling and shipping products, as well as signing up additional doctors and pain clinics to be able to offer the treatment.
CEOCFO: What has been the early reception? Mr. Nageshwar: The early reception has been very good. We sold the previous generation product starting about a year and a half ago, so we do have a little bit of a base. However, until we got our new devices and this new system, we really could not mount a major marketing program.
CEOCFO: How are people treating chronic pain today? Mr. Nageshwar: Today, many people with chronic pain are treated with Opioids and many of them are using narcotics very heavily. Therefore, many of the doctors tell us that people with chronic pain who come to see them are already on a regimen of narcotics. Our device allows the doctors start treating patients with chronic pain and then slowly wean them away from narcotics in addition to curing their pain.
CEOCFO: Are most people with chronic pain treated by their general practitioners or at pain clinics? Mr. Nageshwar: What I have learned while doing the market research for this area is that about 90% of the pain patients are actually treated by their family physician. Unfortunately, the family physicians tend to treat the patient with Opioids because it seems to be the easiest thing to do. If we are able to get many of the family physicians to adopt our device, it could become a widely used office procedure. This would allow the family physicians to treat patients without referring them to pain practitioners.
CEOCFO: What is the geographic reach for your product and are certain areas of the world more receptive? Mr. Nageshwar: We are a global company in the sense that our operations are in India and we started out with our research in Switzerland, but we are also here in the United States. Our first focus is the US market before we go anywhere else. There is a very simple reason for that. The US market is highly respected for all of its solutions and US technology is very highly respected. Therefore, once you are successful in the US and people are using your product in the US, it is a great deal easier to get into the other markets.
CEOCFO: Would you tell us about the application of the device on the patient? Mr. Nageshwar: Our device is a prescription device administered by the physician in the physician’s office. It has a very strong adhesive that attaches behind the ear and the needles go into the ear percutaneously and then the device has some very strong tape that holds it to the skin. Therefore, when you sleep or at work or play, there is no concern with it falling out.
CEOCFO: What did you learn along the way as you developed the device? Mr. Nageshwar: The first thing that I learned was about trying to develop a device that was very light and easy to handle, because you cannot put a very heavy thing on the back of a patients ear. Therefore, it took a fair amount of time to make it very light. We also had to find batteries that would go for 4 days and would not be heavy, because batteries are very heavy. Therefore, we are actually using hearing aid batteries, which are very light and give you a great deal of power for the weight that they have.
CEOCFO: Are you looking for partnerships or investors? What is the financial picture? Mr. Nageshwar: Our company has been funded by Angel Investors, family and friends. I have also invested heavily in the company. Currently, we have no institutional investment. We are hoping that in some point in time people will be interested enough to invest in our company so that we can grow faster, because when you are in the marketplace more money enables you to grow faster, as you can run much more research and clinical studies. Another type of partnerships would come about because we want to be able to access all of the states in the US, so we are very keen on finding distribution partners who will help us take our product to the family specialists and to the family physicians. That is probably our most pressing need right now--distribution partners to help us sell the product.
CEOCFO: Why pay attention to DyAnsys today? Mr. Nageshwar: We have a unique and non-narcotic solution that everyone is crying for. We have something that works in the area of chronic pain. We are a well run company and we have all of the signs of becoming a very successful company. From an investor perspective it would be an interesting company to invest in and we have a great product, so from a distribution partner perspective, it would be a great set of products to market to customers. |
“There are no side effects to treating chronic pain with ANSiStim because there are no drugs involved. The treatment itself is not harmful in any way.” - Srini Nageshwar
DyAnsys Inc.
Contact: 617-600-4385
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Srini
Nageshwar