Good afternoon. We have our next presentation from NeuroOne Medical.
Thank you.
Good afternoon, everyone. Thanks for coming by to learn a little bit more about NeuroOne Medical Technologies Corporation. Excuse me. My name's Dave Rosa. I'm the CEO of NeuroOne. We are a publicly traded company on Nasdaq under the symbol NMTC. The company has been incorporated since 2017. Regarding the presentation, you won't have to take any photos. This presentation is actually on our website. Given that we are a public company, there's our forward-looking statement, which I'm sure you all have probably seen many times. What is NeuroOne trying to accomplish? Basically, we're trying to transform people's lives. I'll tell you a quick story of how that's happened already and how powerful the technology has been. Really, the areas of interest that we're in right now are brain-related neurological diseases. Everyone's probably heard of epilepsy.
The other one's chronic pain, which I'm one of those chronic back pain people. Our technology is also intended to try to solve some of those issues as well. It's all using devices, which I'm sure you won't be able to see, as tiny as this wire-like device and this thin film device. The story of Clara. The company introduced a technology. It's called the OneRF Ablation System, and one of the first patients to get treated was Clara. She was a high school teenager who had to stop going to class, couldn't participate in any sports. The issue was she was actually having 10 seizures every evening. Had no social life. She came in for treatment at the Mayo Clinic in Jacksonville. They performed the ablation. After years of having these recurrent seizures, she was seizure-free. Today, she's in college.
She's resumed all her social activities. Just the impact that a device like this can have still kind of gives me chills. I was, in April, at a memorial service. Unfortunately, the neurosurgeon that treated Clara had a sudden accident and passed away. A lot of his former patients and even industry relationships attended. When I was there, Clara was there with her parents. We were both talking about how sad the situation was, then, right as I was ready to leave, her father came up to me. He hugged me, and he said, "Thanks for giving my baby girl her life back." That's the kind of, I'll say, potency this technology can have. Just a little bit of an overview. The company today has four devices that have 510 FDA clearance. We've had really good success with FDA getting our technologies cleared.
Our strategy has been to leverage our existing approved devices for further indications. The markets that we play in today that we're actually commercial in are epilepsy and trigeminal neuralgia, which I'll talk about in a minute. Those markets are really underserved, under-penetrated. We're starting to gain traction, and really expect to see further increases in revenue over time. The last one, which is really regarding drug delivery and chronic pain treatment. The chronic pain market, just for lower back pain today, is generating $3 billion in sales. We are pursuing even larger markets than what we're in today. This is a busy slide. I'll summarize it with just a few points. Question is really what makes us different.
We were really the last entrant in the electrode market, we've actually been able to develop the technology beyond what our competitors have, it's really because of a few reasons. One is the thinness of the film. I started out by showing you how thin this was. The company was really started based on the principle of this thin film technology and the ability to place it through less invasive incisions. The second one is the fact that it can perform both diagnostic and therapeutic functions. The technologies prior to us could only perform and were only FDA cleared for diagnostic purposes. We now have two devices that are approved for both diagnostic and therapeutic indications.
The last one is, you couldn't see it when I held up the device, the thin wire-like device, all of them actually have multiple contacts, when we start talking about ablation and pain management, having more than one contact or more than a few really provides a much larger sweet spot for the pain therapist. Here's just a picture, again, of the markets. The light blue is actually how much revenue is being generated in each of those now. The one that you may not recognize, BVNA, stands for Basivertebral Nerve Ablation. It's for a lower back pain condition that is probably one of the fastest-growing therapies today for back pain. The Mayo Clinic. Things really started with a partnership with the Mayo Clinic. This was founded even prior to my joining the company in 2015.
The Mayo Clinic was involved in helping us develop this thin film electrode. After we were successful doing that, all the technology that we have developed since then has come from in-house, but also through the cooperation of the Mayo Clinic. They are currently right now testing our drug delivery device in some of their animal models. The second relationship, if you followed NeuroOne, is with Zimmer Biomet. We formed a partnership in 2020 with Zimmer. They were providing some of the accessories needed for these brain surgeries for epilepsy. We were providing the electrode. That relationship is still strong today. Really next steps for both companies are to enter the international markets. Today, we are only commercial in the U.S., and expect to have ISO 13485 clearance later this year. Let's talk about now the technology.
This is just a shot to give you a flavor of all the different areas we're in, which ones we have clearance with, and which ones we have partnerships with. The OneRF Brain Ablation System, that's the system that I mentioned that Clara was treated with. We also have the OneRF Trigeminal Nerve Ablation System. That was the most recent clearance by FDA less than one year ago. The other devices in development, the BVNA Spinal Cord Stimulation and Drug Delivery system. This was the first device up top, the Evo Cortical Electrode. Really the function of both the devices on the screen was to map the brain and provide the neurologist and neurosurgeon with the precise area that was triggering seizures for patients that were suffering from epilepsy. We were able to launch these technologies.
The second one that you see below the sEEG is the thin wire-like device, does the same thing, but through much smaller holes. The profile of that device is 0.8 mm. It's got a very, very small profile and doesn't require large invasive holes through the skull. One of the things that we thought we could do to help improve the care in this area was to develop a technology. If you look in the upper far right, it looks like the same wire device that I just had, and that's because it is. The difference is we developed it so that it could not only find the problem area, but then when connected to a generator, which is that iPad-looking device on the bottom to the far right, ablate that tissue to hopefully eliminate the seizures that the patient was experiencing.
Now or the way these procedures were done prior to us getting clearance was a patient would come in, have about 15 of those wire devices placed in the brain. After the neurosurgeon found the area that was triggering seizures, they would remove the devices, send the patient home, bring them back for a second invasive surgery where they would place another device to ablate the tissue. It required a few hospitalizations for the patient, and there's not any patients that are excited about going in to have holes drilled in through their skull for procedures like this. Trying to really reduce this from a two-hospitalization surgery to a one was of primary importance. Today, that's what we've been able to do.
The devices still get placed the same way in the operating room, the patient goes back to their room and the actual ablation is performed while they're in bed at their bedside. In fact, every one of our patients, all the ablations have been done in the patient's room and many times with families right next to them. This has really been a game-changing technology in the field of epilepsy. Trigeminal neuralgia. It's also referred to as the suicide disease. If you know anything about this condition, the literature says that about 25% of the patients that are afflicted with this condition actually commit suicide, not contemplate suicide. What we did was we were able to leverage the system that FDA cleared for brain ablation, and with an additional accessory, go back to get a clearance for ablating the trigeminal nerve.
To date, we've done about 16 patients. All of them are pain-free today. There's been a lot of discussion about this technology in the press, and I think we're only going to see more. One of the advantages of this compared to previous procedures is that the device only needs to be placed once. Because there are all these multiple contacts on the device itself the doctor is able to test each contact to actually figure out where on the trigeminal nerve the pain is being triggered from, whereas previous technologies would have to place the device multiple times because it was only at the tip of the probe that it could sense. A much more comfortable procedure for patients.
BVNA, this again is the lower back condition that I said is probably the fastest-growing treatment for lower back pain today, it uses the same RF energy. We would use the same system, the same generator with the electrode that I showed you, the wire-like electrode. Again, those multiple contacts allow the surgeon a greater sweet spot. If he decides that he wants to create maybe a larger ablation zone than what he has, he has the ability to go to any one of those contacts and create a lesion there. That's a technology still in development, and we hope that like previous history, that we'll be in a situation where we'll be commercial with a device like this in the next 16, 18 months. Drug delivery.
I think for those of you who are wondering why a company like us that has ablation systems is involved in drug delivery, many of the conditions that I refer to, and particularly in the brain, epilepsy, there's a number of studies that you've probably heard of, gene therapy studies for glioblastomas. There's cell studies that are going on that require the ability to deliver a drug through the blood-brain barrier. We've been able, again, to leverage the same wire technology, and we are able to infuse therapies through the center of that precisely in the area that the neurosurgeon wants to deliver the therapy. I think it's a great advantage of our system because the neurosurgeons that are participating in these procedures are the same ones that are actually doing brain ablations and even trigeminal neuralgia ablations.
This technology does not require the use of MRI, it should save time for any of the physicians looking to provide these therapies when they become approved. You can place multiple devices. You're not limited by the number of trajectories that you would use here. The technology is also able to record any activity in the brain. Some pharmaceutical companies may want to get baseline readings and then see what happens a few weeks later, evaluate what the brain activity looks like after their therapy has been delivered. The last one is an electrode for spinal cord stimulation, again, for lower back pain, primarily pain that you would see radiating down a patient's leg. This technology has the ability to roll up and be placed through a 14-gauge needle, there's no incision required for this.
You can customize where you want to deliver the therapy in terms of which contacts you would like to deliver the therapy. Really the whole idea behind this concept, other than it's percutaneous, is energy, what I'll call conservation. These devices face down towards the spinal cord. All the energy is being delivered there, unlike circumferential leads where you have 360-degree energy being delivered. Management team. We have a number of people from both large corporations in the neuromodulation size as well as startup companies. We have a nice blend of both. In terms of our financials, the company today is debt-free. We do have an ATM available if we wanted to take advantage of that. We're covered by three analysts today. We have very healthy margins, growing revenues year-over-year through our partnership with Zimmer Biomet, we have upside in the other technologies.
Trigeminal neuralgia is not factored into our plan today, that represents financial upside for the company, along with other devices like BVNA and drug delivery. We're expecting on the drug delivery side to be able to launch that commercially, at least initially for animal studies and any FDA IDE-cleared studies. Key takeaways that I would mention is I really feel like the technology's been validated. It's now having success in two different applications. It's got great promise in other areas like lower back pain and drug delivery, which, as I mentioned earlier, represent even larger markets than the ones that we're participating in today. With that, I think that was my last slide. Happy to take any questions. Sure. Yeah. The question is what is our cash burn, and are we looking to address that through the potential use of the ATM?
Yeah, one of the things that is often misleading in the financials is the fact that we are selling product monthly to Zimmer, and sometimes people have a tendency to look at the cash balance as opposed to maybe what the receivables are. Yes, the ATM, we've said publicly that we have cash through fiscal year 2026, which is the end of September. We do have other activities going on that could also bring in non-dilutive capital. The answer is yes, that will be addressed. It could be through the use of the ATM or other agreements.
What is the cash burn?
Yeah. It is about $700,000-$750,000 a month. Other questions? Yes.
Hi, again. For trigeminal neuralgia, how many physicians or how many sites have done cases so far? Were those physicians already previously accounts or customers?
Yeah. What we did when we first launched the trigeminal neuralgia technology was we went to three centers, we performed cases there just to make sure that the technology was performing exactly the way we expected. We now have another 10, it may be higher than this, sites that have asked to do evaluations that we are setting up now. Of those three sites, one of them was not a brain ablation user, the other two were.
Thank you.
Any other questions? All right. Well, thanks for the interest. We're at Booth 509. Feel free to stop by as well.