Iridex Corporation · NASDAQ:IRIX
Iridex — Investor Presentation (November 2016)
24 slides from Iridex's investor presentation, Nov 9, 2016
Slide 1: IRIDEX Corporation Corporate Presentation November 2016
IRIDEX Corporation Corporate Presentation November 2016 NASDAQ: IRIX IRIDEX Corporation Corporate Presentation November 2016 NASDAQ: IRIX
Slide 2: Safe Harbor
Safe Harbor Participation in this presentation requires that you be aware of the Federal legislation regarding forward-looking statements. Accordingly, during the course of this presentation we may make forward-looking statements regarding future events or the future performance of the Company. We c
Slide 3: Investment Highlights
Investment Highlights Transforming the treatment of front and back of eye diseases Growth Opportunity in Glaucoma (~$5 bn) and Medical Retina (~$9 bn) Differentiated & disruptive New Technology driven by MicroPulse® Existing Platform of revenue generating business in Surgical Retina Early Traction i
Slide 4: Transitioning to High Growth
Transitioning to High Growth Legacy Premium Proprietary Scalable Platform Razor/Razorblade Surgical Retina Medical Retina Glaucoma 4 Transitioning to High Growth Legacy Premium Proprietary Scalable Platform Razor/Razorblade Surgical Retina Medical Retina Glaucoma
Slide 5: Glaucoma Business Overview
Glaucoma Business Overview Glaucoma 5 Glaucoma Business Overview Glaucoma
Slide 6: Glaucoma: Growth Opportunity
Glaucoma: Growth Opportunity Large Market: $5B* 65M people with glaucoma; 17M diagnosed Unmet Need Significant shortcomings in current pharmaceutical and device treatment alternatives New business model Scalable platform: Recurring probe sales from installed base of systems *Source: Market Scope est
Slide 7: New Solutions Across the Continuum of Care
New Solutions Across the Continuum of Care Eye Drops Traditional Laser MIGS Invasive Surgery MicroPulse P3 (MP3) Probe G-ProbeTM Early to Late-Stage Glaucoma Refractory Glaucoma Intelligence resides in the probe, not the appliance Revolutionary approach provides strong competitive advantage Portfoli
Slide 8: Cyclo G6 Addresses Significant Unmet Need
Cyclo G6 Addresses Significant Unmet Need MIGS devices Limited to use in cataract surgery Incisional procedure with implant left behind Long term efficacy unclear Prescription eye drops High non-compliance rates Complex dosing regimens Adverse side effects High, recurring costs Lasers – SLT, ALT, ML
Slide 9: Cyclo G6: Immediate Commercial Impact
Cyclo G6: Immediate Commercial Impact G6 Systems Sold* 401 Total G6 Probes Shipped* 27,078 Total Q3 YTD 2015 45 0 50 100 150 250 300 $- 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 3,666 Q3 YTD 2016 288 200 Q3 YTD 2015 Q3 YTD 2016 19,488 2,000 *As of Q3 2016. Product Launched in March
Slide 10: Cyclo G6: Broad Global Support
Cyclo G6: Broad Global Support Selected customers 40 countries have purchased with pending approvals in China and Japan Reimbursement established with permanent U.S. CPT code Three of six probes for G6 have been authorized by FDA 10 Cyclo G6: Broad Global Support Selected customers
Slide 11: Compelling Clinical Evidence: NUHS Study – 33% IOP reduction at 18 months
Compelling Clinical Evidence: NUHS Study – 33% IOP reduction at 18 months NUHS Clinical Study Mean IOP (n=38) Source: Clin Experiment Ophthalmol 2010;38(3):266-72 MP3 Clinical Outcomes Summary at 18 Months 33% mean IOP reduction at 18 months Reduction in eye drops from mean of 2.1 to 1.3 On average
Slide 12: Compelling Clinical Evidence: NUHS Followup Study – 43% IOP reduction at 78 months
Compelling Clinical Evidence: NUHS Followup Study – 43% IOP reduction at 78 months NUHS Clinical Study Mean IOP (n=14) Source: EGS abstract, Prague, Czech Republic, June 19-22, 2016 MP3 Clinical Outcomes Summary at 78 Months 43% mean IOP reduction at 78 months Reduction in eye drops from mean of 1.8
Slide 13: Compelling Clinical Evidence: Additional Studies Provide Consistent Outcomes
Compelling Clinical Evidence: Additional Studies Provide Consistent Outcomes Dr. Robert Noecker MP3 Patient Case Series 1 Mean IOP (n=46) 41% reduction in IOP @ 12 months IOP (mmHg) 1 ARVO Abstract, Baltimore, Maryland, May 7-11, 2016 2 Lasers Medical Science (2016)31:393-396, DOI 10.1007/s10103-015
Slide 14: Medical Retina Business Overview
Medical Retina Business Overview Retina 14 Medical Retina Business Overview Retina
Slide 15: Medical Retina: Growth Opportunity
Medical Retina: Growth Opportunity Large Market for DME: $9B* Aging population and diabetes epidemic Unmet Need High cost of treatment and treatment burden to physicians and patients Evolving business model Capital equipment model transitioning to include additional revenue sources * Source: Market
Slide 16: MicroPulse Offers Comparable Clinical Outcomes Without Tissue Scarring
MicroPulse Offers Comparable Clinical Outcomes Without Tissue Scarring Traditional Laser Pre-treatment 1 Year Post-treatment Pre-treatment 1 Year Post-treatment Scarring non-existent with equivalent visual acuity results as traditional laser, plus increased retinal sensitivity, using MicroPulse lase
Slide 17: Medical Retina: Substantial Evidence Supports MicroPulse
Medical Retina: Substantial Evidence Supports MicroPulse Safety Efficacy Efficiency Economics 10-year follow-up data proved no detectable retina damage. Control randomized trials showed improved vision and improved retinal sensitivity. More treatable patients. Improved patient pass-through rates. Us
Slide 18: Medical Retina: Broad Global Support
Medical Retina: Broad Global Support Selected customers Over 65 countries have purchased Over 135 publications, posters and podium presentations Over 700 systems sold and estimated ~1 million patients treated 18 Medical Retina: Broad Global Support Selected customers
Slide 19: Financial Snapshot as of Q3 2016
Financial Snapshot as of Q3 2016 Balance Sheet Debt $0.0 Cash $9.5 Revenue * 2015 revenue impacted by supply chain issues Revenue Mix ($ in millions) ($ in millions) 19 Financial Snapshot as of Q3 2016 Balance Sheet Debt $0.0 Cash $9.5 38.3 42.8 41.8* 46.0-46.5 0 10 20 30 40 50 60 2013 2014 2015 201
Slide 20: Focused Execution to Achieve Goals
Focused Execution to Achieve Goals MicroPulse technology for other eye diseases Lower cost and improved reliability laser technologies New delivery modalities Near and Mid-Term Goals Future Programs in Development Expand US and International salesforce; further penetrate territories Increase manufac
Slide 21: Key Investment Highlights
Key Investment Highlights Large Target Markets Significant Unmet Need Compelling Recurring Revenue Model Value Based Medicine Backed By Clinical Evidence Differentiated Technology with Broad Patent Portfolio Global Commercialization Infrastructure 2 3 5 6 7 1 Strong Brand and Trademarks 4 21 Key Inv
Slide 22: Thank You
Thank You 22 Thank You
Slide 23: Clinical Resources
Clinical Resources Saksonov, Poster MicroPulse 577 Cystoid ME due to BRVO, APVRS 2011 Mahootchi, Rethinking Regimen for Retina Disease, RT 2014 Saksonov, MicroPusle 577 vs Classic ME due to BRVO AVPRS-VRSI 2011 Gossage, 532 TxCell MicroPulse ME due to BRVO, RT 2014 Inagaki, MicroPulse for ME due to
Slide 24: Video Resources
Video Resources Video 1: MicroPulse Technology Animation Video 2: Cyclo G6 Laser System Technology Video 3: Transscleral Cyclophotocoagulation with Cyclo G6 Video 4: Interview with Dr. Jacky Lee at ESCRS 2015 Video 5: Media Release on New Treatments for Glaucoma (Chinese with English subtitles) Vide