Early detection saves lives, but today’s tools are often invasive, slow, or used too late. In this episode, Breath Diagnostics CEO Ivan Lo explains how a non-invasive breath test can detect volatile organic compounds (VOCs) associated with disease—positioning breath as a first-line screen for early-stage lung cancer and potentially pneumonia and TB. We cover the science (why breath can capture near real-time biological change), sensitivity/specificity signals from 800+ patients, and a go-to-market/regulatory plan that prioritizes post-op pneumonia (shorter trials, no entrenched standard of care) before lung cancer screening. We also discuss platform economics (low-cost disposables, existing LC-MS infrastructure), trial scale and cost, and how breath could support ongoing monitoring after treatment. Investors get a clear view of timelines, risks, and upside; founders get lessons on platform positioning, capital efficiency, and sequencing indications.
 

Highlights include...

Why breath (VOCs) can surface disease signals minutes–hours after biological change

First-line screening thesis vs. liquid biopsy and CT workflows

Early data: ~94% sensitivity / 85% specificity across 800+ patients (lung cancer context)

Regulatory path: post-op pneumonia first (faster FDA route), lung cancer next

Unit economics: low-cost cartridge + existing LC-MS labs (hub-and-spoke)

Clinical design: trial scale, costs, and companion-diagnostic “cocktail” potential

Platform beyond oncology: pneumonia, TB, inflammation, RUO for pharma

Chapters
00:00 Intro & why early detection needs a rethink
00:47 What Breath Diagnostics does (the “breath bag”)
03:34 VOCs 101: why breath can be earlier than blood
06:41 First-line screen vs. confirmatory tests
08:19 Will this be ubiquitous at annual visits?
11:53 Commercialization path & funding realities
12:37 Pneumonia first: faster FDA route
14:09 Lung cancer timeline & business model
15:34 Hospital economics & pneumonia savings
18:24 Trial scale/costs; disposable chip economics
20:34 Team, funding strategy, and sequencing
22:08 Early data and a “false negative” biopsy case
24:12 TAM & eligibility (20M Americans qualify)
25:06 What success looks like (2–3 years)
27:00 Investor closing thoughts