00:08:18 · Neil Daly
[00:08:18] S1: Yeah. So that's what's that's what's really exciting. I think that, one of the things that Europe is very strong in is that we have one regulatory regime that governs the entire European landmass. But we also have very different health care systems operating across these areas, and there are local market requirements. So it's probably not quite as simple as having one clearance and being able to turn on all these markets and and enter them at the same time. But I think that why this is so powerful is it does it does two things that I think are critical. One, it opens up a huge range of business models so that a lot of these complex health care systems that weren't as obvious for us to be able to support now become candidates. And what... Let me explain what I mean by that one. In The UK, because the health care system's all publicly funded, if your technology like ours is able to help identify cancers and in doing so, reduce the number of dermatology appointments it takes to find those cancers so those dermatology appointments can be reapplied to the wait list that exists, there's a significant benefit to the health system of doing that. One, you've got reduction in in sort of dermatology visits, which unlocks, costs. And then two, you can start to reduce a lot of the wait clearing initiatives that many, trusts are relying on, which are costing The UK somewhere around about £80,000,000 a year just in dermatology. And so there's an immediate unlock of value. When you get into other health care systems where you've got separation between primary care and secondary anything happening in primary care that reduces secondary care costs, the accounting starts to fall apart. And so by having this this new technology, you can take a lot of the cost of delivering our our system, our tests out of the system, and then you can change the sort of the way the economics work and be able to support more different business models. So that's the first thing. It it really does change, the way that we can sort of approach these different markets. The second thing is that it dramatically changes access because all of a sudden, you know, a little bit of hardware that costs 300 to out to someone doesn't sound like a huge problem.
00:10:19 · Neil Daly, Sebastian Johnson
And in fact, we run models in The UK where we hold that inventory and send it out to patients and get it back from them and help run these skin checks. But if you take that away and all of sudden you say, look, every Samsung phone, every iPhone, a whole bunch of other phones that are in operation across Europe, you download an app and all of sudden it's now a diagnostic tool. That is a real step change in how you can access people that previously just weren't accessible. And in the health care system, we've got two challenges. One, it's too expensive to service the people who are coming into the health care system, and two, we're not actually servicing all the people that need to be serviced. And so if we can change both those dynamics, reduce the cost so that we can make health care systems more effective and dramatically change access, that can really take us to that mission that we set ourselves at Skin Analytics in that we wanna make sure that no one dies from skin cancer. And those are the two levers that we need to pull to get to that point. So a huge, huge moment for us. [00:11:19] S0: Amazing. What's been the reaction, I guess, from both... I don't want call them consumers, but it's like end users or patients and then clinicians, you know? Can they quite believe this?
00:11:29 · Neil Daly
[00:11:29] S1: Yeah. So so it's... It is very different. So I think the first natural question is, well, why don't you just put this on the App Store and let it go crazy and and, and make it access completely open? And it's just... As a company, we've always had the belief that our job is to make sure that patients have the next step in the health journey already arranged or that our partners are able to deliver it. So I don't want to put a smiley or a frowny face on an app and say, oh, bad news. We think you have cancer. We need to make sure that they have access to a care system, could get access to a biopsy, can get the the treatment so that we can solve that problem. And so we're committed to deploying within site health care systems in innovative ways, but just making sure that that patient doesn't get left without a way to access to solve their problem. But that that sort of that sort of opportunity of dramatically improving access does open up all these sorts of different ways we could support the health care system as long as we can meet that test. And so that... That's kind of our focus right now is we're working with a whole range of different providers across Europe that are coming up with these great new ideas of providing access to patients, and we see our job as being the specialist that can power that for them, but making sure that we have that bar of of making a better outcome for the patient as as this... The core central theme.
00:12:50 · Sebastian Johnson
[00:12:50] S0: And and you mentioned that the real mission of the business is to build the future when nobody dies of skin cancer. What does that what does that roadmap look like? You know? And maybe actually share some stats on the results that you've had to date because, you know, you... You've been... You know, you... The technology has been used for hundreds of thousands of people. It's detected loads of cases. Maybe share a bit about that and then talk about how can we get to that mission? What does that look like?
00:13:16 · Neil Daly
[00:13:16] S1: Yeah. So we have now found more than twenty five thousand cancers across the NHS. We've seen more than three hundred thousand patients, and we've done that at a pickup rate of around about ninety seven, ninety eight percent for for cancer, which compares very favorably in the literature to, any other way you could try and find skin cancer. It's very, very high performance. And so we now know with a really great degree of specificity exactly how the technology performs, at scale across entire populations, across all the different regions of The UK, with all the different demographics that we have in in in The UK. So really, really strong performance data that, that sort of shows that the technology... There's nowhere to hide it. Right? We publish this every quarter or every six months. We publish the performance data, warts and all, and it's it's incredibly strong. We let people sort of evaluate it. That has helped build up confidence in clinicians because they realize that being able to interrogate the data, they can see a level of of information that they can really get the confidence that technology does work the way that we say it does. And I think that there's been a lot of trust that we've been building up over the six, seven years that we've been working across the NHS so that I was surprised at how ready a lot of our clinical partners were willing to, have the conversation around using a smartphone alone because that's a big jump. But I think we've we've built up that trust over the years. In terms of how do you translate that potential of finding cancer into trying to make sure that no one dies of skin cancer, there's two really important things to know about it. Skin cancer like almost every other cancer, in almost every other disease, the earlier you find it, the more effective the treatments are. But skin cancer is one that's particularly interesting because it's visible on the surface of the skin before it starts to spread throughout the body. So if you can find it in its earliest stages, the survival rate's about ninety eight, ninety nine percent. It's almost perfect. And so that becomes the goal for skin cancer, find it in its earliest stages. But just like every other cancer, to find any of them, you have to see a lot of healthy people.
00:15:25 · Neil Daly, Sebastian Johnson
So in The UK, in the urgent skin cancer referral pathway, so once you've gone from primary care and been sent into a dermatology team for suspected cancer, the pick up rate is somewhere between six-eight percent of those referrals are cancer. And the vast, vast majority of the patients on those pathways, more than nine and ten, have absolutely nothing wrong with them at all. And so when you put those two things together, the only way you can possibly go out and see all of the people that you're gonna need to see to find the cancers early is to deploy a technology that doesn't take a fifteen to twenty minute dermatologist appointment because dermatologists are rare and expensive. And so putting all those things together, that's why we're super excited about trying to make sure that we find every cancer in those earlier stages and then making sure that no one dies from it. And I think that for the first time, since I started the business, we we had this big vision. This is something we always wanted to be able to do, and now it's so tantalizingly close that we're really excited about it. [00:16:27] S0: Amazing. And, like, I think it's such a phenomenal job that you're doing and and an amazing mission. I think one final question. Right? You raised a series b last year. You've had these amazing milestones since you raised that round. What's next? You know, like, what's next on the immediate priority list? Like, what what takes you from where you are today to that next stage of your journey?