Investor Update
MezLight exhibited at the annual American College of Surgeons Clinical Congress (ACSCC) in San Francisco from 10/26-10/30. To say we are excited about the response from surgeons at the show would be an understatement. During the event we received well over 200 leads further validating MezLights value proposition!
Design
The MezLight has been frozen in major design and is preparing for production. The last small piece to be finalized is the lens configuration, which we expect will be finalized this month.
Our newly chosen product manufacturer, Bridgmedica, located just outside Boston in Mansfield, significantly helped us have the final prototype ready for the ACS show last week. In doing so, they have already identified some design tweaks that allow for a stronger product. Even better, using their 30 years of medical device design and manufacturing experience, they will continue to identify changes to allow them to produce the product better with less expensive production costs. In many cases it’s a change to a tooling for a part to make the tool and/or the part more durable.
For example, we had prepared 7 MezLights for our demonstration use during the show. We all were extremely surprised at the new design strength. We only used the two prototypes for the entire show and we used them hard. This experience bodes well for future testing and validation.
Contract Manufacturer
On September 16th we visited Bridegemedica, who was one of two finalists the MezLight team was evaluating to become our contract manufacturer. It was pretty clear to all of us from the moment we walked in that this was likely the place for us, and we selected them. They have a very smart, personable and experienced team. I doubt we could find a more relevantly-experienced contract manufacturer for our medical device. They hire and retain people specifically from the medical device industry. They specialize in being an extension of our team and fill-in where we need assistance. They have experience in all areas of product design, launch, manufacturing and follow-up (complaint-handling, repairs, returns, etc.).
Bridgemedica will provide MezLight with the guidance and collaboration to complete product design and development; packaging design; rapid prototyping (which we witnessed last week); usability and human factors; design for manufacturability and assembly; equipment repairs; and help with 3rd party management. We all felt so comfortable at all levels of the organization. Bridgemedica will work with third parties to make the tools and the parts; and perform final assembly at their site.
Org, Timeline & Budget Update
We recently added Kevin Fischer, to our formal group of MezLight, LLC managers, joining Josh and myself. Kevin is also an investor. Kevin has been Craig and my accountant and financial advisor for personal and our businesses for years. He is very good at his job; and understands and cares for us as friends.
We are delighted to announcement that MezLight has its first paid employee, Heidi Dorr! Heidi transitioned to full-time employment with MezLight on September 1st as Director of Marketing. Heidi has been instrumental for over a year in MezLight’s marketing, website, sales automation, digital marketing, tradeshow booth development and administration, and otherwise participating in every aspect of MezLight during that time. Heidi, along with her family, is also a MezLight investor.
Kevin has a very tight grasp on our finances and has suggested we issue another round of investment to assure ease of revenue in 2020. We are targeting to raise $1.5M. As you know, you have been a participant in the initial $1M raise. With the additional $1.5M we would have the funds necessary to support MezLight through the planned activity of 2020, and into revenue and profitability. We’d like to ask you first out of courtesy and respect whether you’d consider adding to your investment? I’ll follow-up personally with each of you to discuss your interest.
Dear Investors,
The past 2 months we have made significant progress with MezLight and we are now in the home stretch moving rapidly toward production and commercialization. ACS Clinical Congress 2019 reinforced the need for MezLight and confirmed our design solution with a wide cross section of surgeons both domestic and international.
As the team works to finalize the details and move into production we continue to be grateful for the confidence and trust you have placed in us. In our next update I look forward to sharing with you the progress we will make by the end of 2019 and expectations for 2020. Feel free at any time to call me at 608-712-1165 if you have any questions.
With gratitude,
Karen Christianson
MezLight CEO & Co-Founder
525 Junction Road
Suite 6500
Madison, WI 53717
f 608.960.4610
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