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>>AN INDIANAPOLIS-BASED STARTUP
IS THE ONLY HOOSIER COMPANY TO
EARN A SPOT IN A PRESTIGIOUS
ACCELERATOR PROGRAM FOR MEDICAL

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DEVICE COMPANIES. MORE THAN
ONE-THOUSAND STARTUPS FROM
AROUND THE GLOBE APPLIED TO BE
IN THE MEDTECH INNOVATOR

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PROGRAM, AND FAST BIOMEDICAL IS
ONE OF ONLY 50 TO BE SELECTED.
BUSINESS OF HEALTH REPORTER
KYLIE VELETA HAS MORE.

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KYLIE.
>> THANK YOU, GERRY.
FAST BIOMEDICAL SAYS THE HONOR
IS ANOTHER FEATHER IN ITS CAP.

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ONLY TWO OTHER STARTUPS FROM THE
MIDWEST WERE NAMED TO THIS
YEAR'S TOP 50 SHOWCASE FOR
MEDTECH INNOVATOR, WHICH IS THE

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LARGEST ACCELERATOR FOR MEDICAL
DEVICE COMPANIES IN THE WORLD.
THE VISIBILITY IS SIGNIFICANT
FOR THE LATE CLINICAL-STAGE MED

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TECH STARTUP AS IT NEARS THE
GOAL LINE. FAST BIOMEDICAL CHIEF
EXECUTIVE OFFICER JOE MULDOON
JOINS ME NOW TO GIVE US UPDATE.

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WELL, CONGRATULATIONS, FIRST OF
ALL, ON THE HONOR.
>> THANK YOU, KYLIE.
>> LET'S START FIRST WITH AN

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INTRODUCTION. TELL US ABOUT THE
TECHNOLOGY THAT FAST BIOMEDICAL
IS WORKING ON.
>> SO OUR TECHNOLOGY MEASURES

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BLOOD VOLUME AND KIDNEY FUNCTION
IN A CLINICALLY ACTIONABLE
TIMEFRAME, THE FIRST IN CLASS TO
EVER DO THAT. THERE'S LOTS OF

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CLINICAL APPLICATIONS, BUT THE
SWEET SPOT IS HEART FAILURE
PATIENTS THAT COME IN VOLUME
OVERLOADED YET THERE IS NO WAY

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TO MEASURE THEIR VOLUME.
>> WITHIN MINUTES, I THINK IT
WAS 15 MINUTES.
>> WE TAKE A BLOOD SAMPLE AT 15

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MINUTES AND WE CAN HAVE THE
RESULTS BACK TO THE PHYSICIAN IN
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>> NO WAY TO GET THAT STAT NOW

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WITH CURRENT TECHNOLOGY.
>> NOT ACCURATELY, NO.
>> SO YOU WERE COMING OFF A VERY
SUCCESSFUL 2019, YOU HAD A LOT

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OF MOMENTUM, AND THEN 2020, AND
THE PANDEMIC HITS AND YOU'RE
2020 PLANS WERE JUST COMPLETELY
DERAILED. SO TAKE US BACK TO

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THAT TIME, AND EXPLAIN HOW YOUR
COMPANY RESPONDED.
>> THE PANDEMIC TAUGHT US THE
VALUE OF A HARD PIVOT. SO FAR

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2019 WE'RE WRAPPING UP A HEART
FLUL TRIAL IN GERMANY, OUR MOST
IMPORTANT BY A LOT, WE WERE
REALLY EXCITED, WE THOUGHT THE

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DATA WOULD BE GOOD. SO OUR PLAN
WAS TO GET THAT OUT, PUBLISHED
AND GO TO ALL THE HEART FAILURE
CONFERENCES TO GET EXPOSURE.

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THEN THE PANDEMIC HAPPENED, WE
COULDN'T GET A PUBLICATION
WRITTEN BECAUSE THE DOCTORS THAT
MANAGED THE TRIAL WERE WORKING

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DOUBLE SHIFTS TREATING COVID
PATIENTS. HEART FAILURE
CONFERENCES WERE CANCELED,
POSTPONED OR KIND OF A SHADOW OF

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THEIR PRIOR SELVES AND OFFERED
VIRTUALLY. SO WE SAID, WHAT CAN
WE FOCUS ON?
AND WE FOCUSED ON PRODUCT AND

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PEPLE
>> SO TELL US BOTH THOSE
CATEGORIES, WE'LL START WITH
PRODUCT, WHAT DID YOU DO?

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>> WE SAID LET'S FOCUS ON THE
DEVICE, LET'S GET IT FURTHER
THAN WE NEED TO AT THIS POINT
BECAUSE WE'VE GOT THE BANDWIDTH

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TO DO SO. SO WE MOVED IT TO ITS
NEXT GENERATION STAGE. WE GOT
ITS PERFORMANCE INDEPENDENTLY
VALIDATED BY AN ADVANCE RESEARCH

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AND DIAGNOSTICS LABORATORY AND
DECIDED TO BUILD A WHOLE FLEET
OF DEVICES. NOW WE HAVE EIGHT
THAT WE CAN DEPLOY INTO

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HOSPITALS FOR NOT ONLY OUR OWN
CLINICAL TRIALS, BUT TO HELP
OTHERS IN THEIR CLINICAL TRIALS,
AND WE'RE HAVING QUITE A FEW OF

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THOSE DISCUSSIONS NOW.
>> WE'LL TALK ABOUT PEOPLE IN
JUST A MINUTE. BEFORE WE GET
AWAY FROM 2020, WANT TO TALK

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ABOUT A NEW LAB THAT YOU OPENED
AT 16 TECH, TELL US ABOUT THAT.
>> WE DID. WE WERE FORTUNATE TO
GET WET LAB SPACE AT 16 TECH, WE

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DID GET BACK IN THE CLINIC THE
END OF 2020. FOR THE FIRST TIME
ABLE TO USE OUR NEXT GENERATION
DEVICE, RUN ALL THE SAMPLES AND

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DO ALL THE WORK INTERNALLY AT 16
TECH.
>> ALL RIGHT, VERY GOOD. SO
ANOTHER THING YOU FOCUSED ON,

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YOU MENTIONED PEOPLE. YOU'VE
DONE SOME VERY AGGRESSIVE WORK
IN HIRING TALENT. TELL US.
>> WE THINK WHEN THE WHOLE WORLD

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IS TURNING LEFT, IT IS A GOOD
TIME TO THINK ABOUT TURNING
RIGHT. WE WATCHED WHAT EVERYBODY
WAS DOING IN THE SPACE, THEY

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WERE TAKING OUT LET'S WAIT AND
SEE ESPECIALLY ON TALENT. WE
THOUGHT IT WAS A ONCE IN A
LIFETIME OPPORTUNITY TO ACQUIRE

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TALENT. WE HIRED TWO HIGH
PROFILE MEMBERS TO OUR BOARD OF
DIRECTORS, ONE IS A VASCULAR
SURGEON TRAINED AT YALE TURNED

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PRIVATE EQUITY PARTNER,
$3 BILLION IN LIFE SCIENCES
FINANCING IS UNDER HIS BELT. THE
OTHER IS A HEART FAILURE DEVICE

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COMMERCIALIZATION EXPERT FORMER
SAINT JUDE MEDICAL EXEC.
>> LET'S TALK ABOUT THIS MED
TECH INNOVATOR SHOWCASE THAT

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YOU'VE BEEN NAMED TO. WHAT'S THE
SIGNIFICANCE OF THAT, AS BEING
PART OF THAT GROUP?
>> FIRST OF ALL, IT IS NICE TO

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GET THE RECOGNITION, THEY'VE
BEEN DOING THIS A LONG TIME, AND
THEY GET OVER 1100 APPLICANTS A
YEAR, THEY TRY AND PICK OUT THE

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BEST OF THE BEST, THE COMPANIES
THAT ARE GOING TO HAVE THE
BIGGEST POTENTIAL IMPACT ON
HEALTHCARE, IT IS NICE TO GET

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THAT RECOGNITION, WHEN YOU
BROUGHT BROUGHT INTO THE FOLD,
YOU GET ACCESS TO A LOT OF
PARTNERS TO WORK WITH IN THE

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SPACE, WHICH HAS BEEN REALLY
HELPFUL.
>> SO AS YOU LOOK BACK AT 2020,
YOU MENTIONED THE HARD PIVOT,

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HOW DO YOU?
HOW DO YOU FEEL COMING INTO
2021?
>> IT FELT A LITTLE BIT RISKY,

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MAKING THE PEOPLE MOVE. WE EVEN
FORMED A 6-PERSON HEART FAILURE
BOARD.
>> WHAT IS NEXT?

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>> 2021, AND 2022 ARE GOING TO
BE YEARS OF EXPOSURE. SO WE DO
HAVE A PUBLICATION OUT NOW,
EXPECT ONE OR TWO MORE TO COME

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FROM THAT HEART FAILURE TRIAL.
WE'VE BEEN ON THE PODIUM FOUR
TIMES IN HEART FAILURE
CONFERENCES, IT WILL BE CREATING

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EXPOSURE FOR WHAT WE'RE DOING.
>> VERY GOOD. GOOD LUCK, AND