Preferred Dental Technologies Inc. (“Company”) (CSE: PDTI, US OTC: PDTTF): provides Corporate update and review of accomplishments
Mr. Erik Siegmund, President and CEO reports;
With the Annual General and Special Meeting approaching, it is hard to believe that it has already been a year operating as Preferred Dental Technologies Inc. (PDTI) It has been a great pleasure to see all that our small but talented team has managed to accomplish during this time period.
When we first completed the transaction to be publicly listed we had several milestones in mind for the year ahead and I am happy to report that we have met or exceeded our expectations. The original plan of development for the first 12 months included:
- Finalization of design requirements to make the EAS Series of dental implant components compatible with the leading styles of dental implants to ensure we had the capacity to reach a wide selection of the dental implant market.
- Continuation of parallel research and development continues. Although the EAS Series represents a finalized product with the completion of the before mentioned blueprint specs, the modular and adaptable nature of the system has long received positive praise. It was important to us to develop parallel to the primary product line a number of alternate versions, which would expand the already impressive range of materials and techniques that can be utilized by dental professionals using the system.
- Manufacture of components and preparation of initial product inventory. In addition to ensuring a high grade final product was produced, we also wanted to ensure that a quality management system, tracking and inventory management protocols were in place as well as final packaging, labeling and order fulfilment channels.
- Prepare materials for education, training and marketing of the EAS Series. Giving sales personnel and educators promoting the EAS Series materials that are meant to allow the many benefits of the system to be conveyed in a simple and concise manner will be key to commercialization.
These four items represented the steps required to prepare the EAS Series for commercialization and beyond. And in the past twelve months we have managed to achieve them all. More than that, we have managed to reach a number of goals and milestones that we had previously earmarked internally for the upcoming year.
Starting from completion of the reverse takeover transaction, PDTI immediately began work with our manufacturing partners in finalizing the design elements required to expand the EAS Series from being compatible solely with Zimmer internal hex style connections. By the time the company completed the takeover in July, compatibility of the system had been expanded to include other connection types commonly used by major brands such as Astra, 3i Osseotite & Straumann. This expansion significantly increased our appeal across a wide segment of the dental market.
By October of 2017, we had finished our first production run of product, giving us a starting inventory as well as components for promotional and educational materials. During this same period of time, we had also been developing our quality systems, labeling, tracking and packaging and before the close of 2017, final product was logged, packaged and labelled in our distribution center.
Simultaneous to the preparation of product for commercial development, we continued our two primary R&D pathways identified for this 12-month period. By October of last year, we had, with the assistance of our advisors, identified non-precious metal alternatives for components currently being manufactured in precious metal and gold dental alloys. Although for many dentists operating in North America, precious metal alloys represent the preferred standard of care, many other markets, including highly lucrative dental markets in the BRIC sphere utilize non-precious alloys as the treatment of choice in dental implants.
The ability to utilize and manufacture components for non-precious methods and case preparation will prove key to accessing these markets going forward and our decision to follow this path will be proven out in the months to follow.
The second main R&D pathway the company pursued was to answer the growing digital dental market with a solution that combined both the innovation and excellence of the core EAS Series with new manufacturing and case design methods. By November of last year we had completed prototypes of the first 3D printed abutment pieces using our technology. This development resulted in the first dental abutment specifically designed with this revolutionary new manufacturing technology in mind. This breakthrough development was recognized in January when the company was interviewed by SmarTech Publishing, the leading industry analysis firm for the 3D printing industry for its research report titled 3D Printing in Dentistry 2018 (full report at: https://www.smartechpublishing.com/reports/3d-printing-in-dentistry-2018-a-ten-yearforecast-and-opportunity-analysis)
The author of the study and Vice President of Research, Scott Dunham, was to later state, “Print technologies have already had a massive impact on the dental prosthetics market, but as demand for implant-supported restorations grows worldwide, it will be up to companies like Preferred Dental to bring the potential benefits of 3D printing to dental practitioners, and ultimately to patients.”
Of course, without proper intellectual property protections in place, the value of these new developments would not be secure. Therefore, it was very gratifying to receive word from the European Patent Office that they had issued their notice to grant one of our new patent applications. The notice to grant, issued just last month, represents the spearhead of a collection of new patents covering innovation and development for both the core technology and its spin-offs in a variety of selected global markets and continues to increase the IT value of the company. This acknowledgement of the hard work and innovation underway in our R&D initiatives has been very well received and we look forward to additional patent issuances going forward.
During this time period we have also selected a truly excellent advisory board composed of dental professionals and educators. Their guidance and insight has been invaluable during the past year and will continue to be so as we expand in the year to come.
With the major accomplishments in product development we had hoped to see the start of sales begin during this period as an additional milestone. Although sales were not originally slated for the first 12 months of operations, we began a soft product launch of the EAS with presentations to dentists using services from one of our advisors. We were hopeful that we could achieve this additional milestone as we continued to focus on completing our primary goals previously identified. Additional time and resources were deployed to be compliant with the latest ISO and GUDID formats for labelling and product tracking. Despite investing more time than originally planned, I am proud to report that a lot of achievements on this front, outside the initial scope of our first year, have been completed placing us ahead of the game as we approach year two of operations and implementing commercial launch.
Despite using a soft style launch program of educational promotions of the EAS Series as other goals were being worked on, we have been approached by a number of interested US dental professionals over the last several months; the groundwork has been laid for a number of exciting developments that we hope to be able to announce shortly.
We have also been working to develop opportunities that have arisen regarding the Brazilian market, including talks with an experienced Sao Paulo dentist operating a multi-dentist dental center. This dentist sees that the EAS Series has huge potential for the Brazilian dental implant market, which has undergone such strong growth that it is now the third largest implant market globally. The development of non-precious alloy alternatives in particular will greatly increase the attractiveness of our system in this market, in addition to the key EAS features that will give increased capabilities to those adopting the system. This dentist has indicated his wish to begin using the EAS Series in his own center as soon as the required regulatory paths are completed.
In addition, a member of our advisory board, Brazilian born Dr. Rodrigo Franca of the University of Manitoba, will be reaching out to contacts in Brazil when he travels there in early June. He plans on meeting with local opinion makers and companies to explore opportunities for the EAS Series’ use and possible licensing opportunities. As a longtime supporter of our work at PDTI, Dr. Franca also strongly echoes the belief that the EAS Series of abutment components can make a very strong impact on the Brazilian dental market and beyond. With the high demand for superior aesthetics, the EAS is poised to provide superior dental care to this important market and beyond.
And so, with the year drawing to a close, it is with great satisfaction that we can look back at the many milestones we have reached. If how far beyond those goals of the first 12 months we have reached is any guide, I feel we can look towards the next year with great confidence in the continued growth of Preferred Dental Technologies Inc.
Preferred Dental technologies Inc. (PDTI) has been established to advance development and commercialization of various evolutionary and disruptive technologies in the dental implant industry.
MISSION – INNOVATIVE & PRACTICAL SOLUTIONS FOR THE DENTAL INDUSTRY
On behalf of Preferred Dental Technologies Inc.
Chief Executive Officer
Email: [email protected]
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