Miromatrix Medical Inc. (NASDAQ:MIRO) Q2 2023 Earnings Call Transcript

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Jeff Ross: I think it still highlights the importance of the process that we’re undertaking and going forward with. And I think it highlights two things with the bioengineered organ approach that we’ve highlighted before. And one is because we’ve already commercialized the matrix itself and is part of our decellularization process, we get viral clearance. So the side and the safety side from the porcine virus standpoint, we feel we’ve already addressed that. And the other big unknown and Lancet article looks at that as well as immunosuppression. As we look at our therapy in the bioengineered approach, we’re recellularizing with allogeneic human cells. So we believe that our immunosuppression protocol will be similar to the gold standard that’s used today as part of cadaveric an organ donation today.

So I think it was helpful to see highlight how that case had gone forward, but some of the challenges associated with that, that I see more on the technology side that needs to be sold in the xeno side. And I think our bioengineered organ approach has really addressed those risks well as we move forward. So again, that’s why the focus that we talked about before, the importance of ELAP as our first product and then the read-through to the fully transplantable organ platform is really our first opportunity to start to demonstrate that with a bioengineered organ, which we believe then opens up the opportunity for our fully transplantable programs to continue forward.

Alex Nowak: Absolutely. Alright, well appreciate the update. Thank you.

Jeff Ross: Absolutely. Thanks, Alex.

Operator: The next question comes from Matthew O’Brien with Piper Sandler. Please go ahead.

Phillip Dantoin: Hey, this is Phil on for Matt. Thanks for taking our questions. Just one or two for us. The first one being just new role, I guess, old role just kind of doubled up here. Can you give us your puts and takes on kind of stepping back into this role and how you’re going to kind of double up the CEOs Head of Research there, R&D? Thank you.

Jeff Ross: Yes, I appreciate the question, Phil. That was partially a natural transition. As you have highlighted before, my background is strong in the technical side and came from the R&D side. So as we really started focusing on where we needed to go forward as we focus on ELAP, it really was a natural transition to be able to bring that role back in and really be able to focus that, that allows us a lot of focus at the company. With that said, things continue to go very well from that standpoint.

Phillip Dantoin: And my final one just being, you’ve presented three posters at ATC, Association of Organ Procurement Organizations, et cetera, et cetera. Just how is interest building over time? And what are docs saying?

Jeff Ross: Yes. I mean it’s exciting to go to those conferences and see the excitement around the technology and start to open up the opportunity to think about what the future could look like with these types of organs going forward. I think as we look at ATC, I think the community was certainly, I say, surprised or impressed with the level and the quality of data that was put forth on the renal side, not only showing the revascularization sustained ability to perfuse the organ, but also some of the stuff that we’re starting to show on the protein retention and the filtration effect of the recellularized kidney that we’ve started to release that data out. So I think from that standpoint, the community continues to be impressed and surprised with the progress that we continue to make.

Phillip Dantoin: Glad to hear. Thanks, congrats again on all the process made on the quarter.

Jeff Ross: Thanks a lot.

Operator: This concludes our question-and-answer session. The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.

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