Let me clarify some of the FDA work and process here of medical devices:
First, the almost market ready video was an investors pitch - not meant for end users. After 20 years of research, the remaining 3 years is 'almost ready'. That makes completely sense. This was no open publication from Auricle but a pitch given at a fundraiser to attract investors. This is purely meant to show that significant research is already done long ago and that investors do not have to wait decades for return of investment.
Second, they have an investor onboard, that is what Jon Pearson CEO of Auricle said. An investor is not a charity. They want return on investment, meaning moving to market sooner then later. An investor will absolutely not wait for a peer reviewed publication before any FDA submission. They want to be first to market. If we are lucky, big pharma is on board (Abbott Labs and others e.g., already have neuromodulation devices).
Third, FDA does not require any peer review or publication at all. The FDA makes decision based on the data provided and the questionnaires filled in. Since I assume a Pre-Submission to the FDA was already done (maybe someone can clarify If this was confirmed by Jon Pearson?), Auricle knows which information/datasets have to be handed over. Preparing the FDA submission is a lengthy process - the regulatory filing is very strict and an extensive bookwork of papers, data etc.
Fourth, FDA has to approve the device. As this is a non-invasive device I assume it will be a Class II device (Class III are invasive devices such as pacemakers, implants, defibrillators and life-or-death devices). A Class II device is usually submitted through the 510K application
Approval of a Class II device takes around 180 days. I did not see any FDA Fast Track for Auricle. With Fast Track it can be limited to three months. However, there is a big hurdle - there are no similar devices submitted to the FDA as to date. One of the criteria of requesting a 510k approval is:
Submitters must compare their device to one or more similar legally marketed devices and make and support their substantial equivalence claims.
Because of this, the 510K procedure cannot be followed and a De Novo Classification procedure has to be started, more information on the process can be found here:
https://www.fda.gov/medical-devices...ect-submission/de-novo-classification-request
The FDA has to approve a request within 150 days (5 months). There could be some back and forth in discussion where Auricle has to provide additional information. Auricle has up to 180 days to clarify open matters.
This means, in total, the maximum submission length is around 11 months in the worst case scenario.
Once approved, the device can be found here in the De Novo database:
https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/denovo.cfm
Fifth, no production would take place before any FDA approval. Production will cost millions - no investor will back that up unless the device is approved.
Summing up, my best scenario would be an FDA submission at the end of this year (takes 5-6 months to prepare the submission file, an FDA approval summer 2023 (7 months to approve including some back and forth) and wires around our necks at the end of 2023 on the first select amount of locations/clinics. Full enrollment/distribution later in 2024.
I expect the paper to appear in the summer of 2023. There is no open database to look for De Novo submissions. I assume the investor comes forward once submitted. This will create traction and will increase the stockprice/capital if the investor is on the stock exchange market.