Pulse Biosciences, Inc Common Stock (DE) Canaccord Genuity's 46th Annual Growth Conference
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Yeah. All right. Good afternoon. Welcome to the Canaccord Genuity 46th Annual Global Growth Conference. My name's Bill Plovanic. I'm a Senior Medical Device Analyst here with Canaccord. With us up next, we have industry legend, Paul LaViolette, President, CEO, and Co-Chair of Pulse Biosciences. Jon Skinner, CFO, is in the audience. He may be yelling a couple answers here and there. We are just going to have a fireside chat. Paul ensured me that he'll be able to explain the technology without a slide, or maybe he'll throw a slide up there. So thanks for coming and joining us with us.
Thank you, Bill. Thank you.
Great to be here. We have only covered Pulse for I think 3 months.
The stock's, I think, 40% or 70%, 80%. It's moved a lot, let's just put it that way. You and I have known each other for a while, and you joined this company 2 years ago?
Yes. Yeah. First on the board, then quickly into the CEO role, and I'd say the company has made a lot of progress in a very short amount of time after you took over.
You also have a very differentiated technology in what's, I would say, probably a white hot space in med tech, this is going to be fun. Before we really dig into this, I want to take a step back and focus on management and the board's experience, because I think it helps really frame this for investors. Let's talk about your corporate and your VC experience and how'd you even get into med tech and Yeah I know we're going back a little but I think it's going to be helpful for investors.
Sure. So I got into med tech in 1980. I was a summer intern for Kendall, which became part of Medtronic, and they hired me before I even went back to my second year of business school. So I was 23 and working in marketing in med tech. I stayed there for 4 years and then made an important move for me, which was to go to C. R. Bard. Bard, at that time, was launching the first interventional cardiology platform in the world with the first coronary angioplasty system. So I became part of that, ultimately ran that business. Stayed at Bard for 9 years. Became President of Cardiology across, foretelling, the electrophysiology peripheral vascular and coronary vascular space. I then joined a company, at that time, I had never heard of in Boston called Boston Scientific. It was a $200 million company at the time.
I joined as the President of International. Went on to run groups of divisions across the med surge group, the endosurgery business, if you will, President of Cardiology, Group President of Cardiovascular, Chief Operating Officer over all business units, all operations, and that spanned 15 years and moved the company up to $8 billion. That was then 30 years in aggregate experience, and I retired at that point, 2008. Became a venture capitalist, started to invest in med tech companies, and joined some boards, both public and private, as an independent director. Spent the last 18 years doing that and sold a lot of companies, made a lot of investments, and have some lasting boards, including companies like Edwards Lifesciences. I was contacted by Pulse in 2024, looking to add an experienced med tech veteran, if you will, to the board.
Really just in an interaction with Bob Duggan, one thing led to another. He asked me to join the board, I did, and almost immediately flipped into the CEO role. So it's been a fantastic process. I will say I did diligence as a VC would in Pulse and started to look at the technology, look at the markets, and we can talk more about it, but I found in it something that I thought was absolutely exceptional. So I tell folks that the board asked me to join as CEO in a car leaving the parking lot on the way to dinner. I said "Yes" on the spot. Then I told my wife after that. So don't take marital advice from me, but I was so convinced about the technology that I didn't need to think twice about the opportunity.
Yeah. I want to go over that. I think it's so important. You've built companies, you've worked at large companies making acquisitions, you've invested in small companies. It's kind of you've seen the good, the bad, the ugly, the nonlinearity of it, and how to build and how to dismantle. So it's kind of you've been there through the whole process, and I think that's important as you build a company. I also want to kind of hit, you mentioned Robert Duggan.
Yeah. For those that have met him, he is definitely a force of nature.
Yes. His track record is impressive.
Bob is an impressive human, and his track record in business is matched, frankly, by his track record in other non-business activities. He is a remarkable person. I met Bob in this process. I did not know of Bob. I knew of his work. I knew of his building of Computer Motion and the merging of Computer Motion with Intuitive Surgical. He was then on the board of Intuitive for a decade after that.
A 30% shareholder of Intuitive.
A 30% shareholder of Intuitive and a forerunner, really, in the entire development of the robotics space. I think that's an example of Bob's vision, and importantly, what he's done subsequent to that is even larger. If you think about putting it in context, most executives would take that one accomplishment and call it a life. But Bob, of course, developed and sold Pharmacyclics. He's done it again with Summit Therapeutics. He's older than I am, enough so to call me young Paul, which I really, really appreciate. I will say Bob brings spirit, but also he's deeply analytical. He's super smart. He's got financial instincts like no one else.
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