Trisalus Life Sciences, Inc. · NASDAQ:TLSI
Trisalus Life Sciences — SPAC Merger (November 2022)
43 slides from Trisalus Life Sciences's SPAC merger presentation, Nov 14, 2022
Slide 1: Investor Presentation November 2022
© 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. November 2022 Investor Presentation
Slide 2: Disclaimer
Di s claimer © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 2 This presentation has been prepared by MedTech Acquisition Corporation (“ MedTech ”), formed as a special purpose acquisition company, and TriSalus Life Sciences, Inc. (“ TriSalus ”) for
Slide 3: Forward-Looking Statements
Forward - Looking Statements © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 3 This presentation contains certain “forward - looking statements” within the meaning of the United States federal securities laws regarding MedTech’s or TriSalus’s expect
Slide 4: Forward-Looking Statements
Forward - Looking Statements © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 4 You should carefully consider the foregoing factors and other risks and uncertainties described in the “Risk Factors” section of MedTech’s Annual Report on Form 10 - K fo
Slide 5: Use of Projections
Use of Projections © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 5 The financial projections, estimates and targets in this presentation are forward - looking statements that are based on assumptions that are inherently subject to significant unce
Slide 6: Changes and Additional Information in Connection with SEC Filing
Changes and Additional Information in Connection with SEC Filing © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 6 The information in this presentation has not been reviewed by the SEC and certain information may not comply in certain respects with
Slide 7: Trademarks
T radema r ks © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 7 MedTech and TriSalus own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This presenta
Slide 8: PIPE Risk Factors
PIPE Risk Factors © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 8 • • • • • • • • • • • • • • • • • • • • • • • The business and industry in which we participate are highly competitive . If we are unable to compete effectively, we will not be able
Slide 9: PIPE Risk Factors
PIPE Risk Factors © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 9 Legal and Regulatory Risks: • • • • • • • • • • • • • • • Our TriNav infusion system and other product candidates are regulated and require appropriate clearances and approvals to b
Slide 10: PIPE Risk Factors
PIPE Risk Factors © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 10 Risks Related to the Business Combination: • The consummation of the Proposed Business Combination is subject to a number of conditions, including entry into a definitive agreement
Slide 11: TriSalus Life Sciences is the Ideal Target for MTAC's Strategy
TriSalus Life Sciences is the Ideal Target for MTAC’s Strategy MedTech Acquisition Corp. © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 11 x Differentiated, fast - growing, commercial medtech business with potential transformational upside from a t
Slide 12: MTAC Team
MTAC Team Martin Roche, MD Director David Matlin Chief Financial Officer Chris Dewey Chief Executive Officer Karim Karti Chairman Thierry Thaure Director Manuel Aguero Director Ivan Delevic Sponsor David Treadwell Director Michael Stansky Special Advisor Arjun “JJ” Desai, MD Sponsor Maurice Ferré, M
Slide 13: TriSalus Team
TriSalus Team J e n n ifer S te v e n s Chief Regulatory Officer Mary S z e l a CEO & President Richard Mars h ak SVP, BD and Strategy Mats Wahlstrom E x e c u t iv e C hai r m a n Sean Murp h y CFO Bryan Cox, PhD Chief of Research Trevor Mc C aw CCO Steven Katz, MD, FACS CMO, Chairman SAB Note: Com
Slide 14: Combining commercial device business with a potential best-in-class therapeutic
Combining commercial fast - growing device business with a potential best - in - class therapeutic TriSalus’ Two - Pronged, Two - Solution Approach SD - 101 • Class C TLR9 agonist studied in >300 patients • Tolerability and robust response rate substantiated in humans • Promotes T Cell infiltration
Slide 15: Two Key Barriers in Treatment of Tumors in the Liver and the Pancreas
Two Key Barriers in Treatment of Tumors in the Liver and the Pancreas Myeloid - derived suppressor cell (MDSCs) NK cell Tumor cell Drug uptake with limited diffusion L o w Interstitial fluid pressure gradient T u m o r c el l p roli fe r a t io n H y p o xi a H i g h N e cr o s i s Collapsed vessel
Slide 16: A Fast-Growing Device Business
A © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 16 Fast - Growing Device Business
Slide 17: A Better Solution for Drug Delivery: TriNav Infusion System
A Better Solution for Drug Delivery TriNav Infusion System Commercial - stage technology launched in 2020 using the proprietary Pressure - Enabled Drug Delivery (“PEDD”) approach 2022E 1 $12.6mm Sales 82% GM 2023E 1 $23.6mm Sales 84% GM 2021A $8.4mm Sales 79% GM Break - through drug delivery platfor
Slide 18: TriNav PEDD with SmartValve Technology
TriNav PEDD with SmartValve Technology Routine outpatient Intravascular regional drug delivery to the liver Proprietary Pressure - Enabled Drug Delivery (“PEDD”) Technology 1 Similar to a cardiac angiogram, 2 x - rays are used to guide a catheter to the site of the lesion 3 1 2 3 Modulation of press
Slide 19: PEDD Drives More Therapeutic Into High Pressure Tumors
Improved therapeutic tumor payload delivery as evidenced by Angiography and CT Angiograms PEDD Drives More Therapeutic Into High Pressure Tumors CT Angiograms Standard Catheter PEDD with TriNav Standard End - hole Catheter PEDD Note: TriSalus images and data on file. © 2022 TriSalus Œ Life Sciences.
Slide 20: PEDD Increases Delivery of Multiple Therapeutics
TACE = Transarterial chemoembolization, TARE = Transarterial radioembolization 1) Titano JJ, et al. Cardiovasc Intervent Radiol. 2019;42:560 - 568. 2) Pasciak AS, et al. J Vasc Interv Radiol. 2015;26:660 - 669. 3) Katz et al. “HITM - SURE: Phase Ib CAR - T hepatic artery infusion trial for stage IV
Slide 21: Expansion Opportunities with Partnerships
Expansion Opportunities with Partnerships Technology enables performance of heretofore un - optimized drugs Potential Partnerships with Companies Advancing Checkpoint Inhibitors Potential Partnerships with Companies Advancing CAR - T and Other Cell Therapies Overall response rate (“ORR”) among leadi
Slide 22: Strong Customer Base with Support from KOLs
Strong Customer Base with Support from KOLs Top TriNav Customers “I remain enthusiastic about the SD - 101 program, the PERIO trials, and the scientific vision of the company.” “Clinical proof in the treatment of pancreatic cancer would unlock a significant unaddressed market.” “The increased safety
Slide 23: Studies Run by Internationally Renowned Cancer Centers
Studies Run by Internationally Renowned Cancer Centers Clinical investigators highly enthusiastic by approach and data 1 2 © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 23 1) MDACC Alliance Program for multiple clinical trials and pre - clinical p
Slide 24: Reimbursement Environment
Reimbursement Environment 1 Reimbursed 50% through private insurance, 50% through CMS with action plan detailed below 1) The Centers for Medicare & Medicaid Services recently determined to not provide additional quarters of transitional pass - through ("TPT") payment for TriNav. Although we have bee
Slide 25: Significant Potential Upside from SD-101 Program in Development
B © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 25 Significant Potential Upside from SD - 101 Program in Development
Slide 26: High Unmet Need Indications Creates Opportunity for Rapid Approvals
High Unmet Need Indications Creates Opportunity for Rapid Approvals Focus on Orphan and Ultra - Orphan Indications Plan to Enter CRC Liver Metastases Market with Potential for Breakthrough Designation and Accelerated Approval Lowered Threshold for Efficacy Given Current and Future Competitor Respons
Slide 27: SD-101 MoA Well Suited for Liver and Pancreas Indications
1) Looi, C.K., et al. J Exp Clin Cancer Res. 2019 Apr 15;38(1):162. 2) Ribas A., et al. Cancer Discov. 2018;8(10):1250. 3) Feig, C. et al. The Pancreas Cancer Microenvironment. Clin. Cancer Res. 18, 4266 – 4276 (2012). 4) Cancer Immunol Immunother. 2015 Feb; 64(2): 149 – 159. 5) TriSalus data on fil
Slide 28: Pressure Enabled Infusion of Immunomodulators
Unresponsive Tumor TriSalus PEDD + Imm uno m odu lat o r Responsive Tumor Potent Immune Stimulation Leads to Systemic Effect Pressure Enabled Infusion of Immunomodulators Directly Into the Vascular Bed of Unresponsive Liver and Pancreas Tumors Targets dysfunctional immune cells in the tumor and orga
Slide 29: SD-101 Improved Responsiveness to Anti-PD1 Therapy
CPI = Checkpoint Inhibitors 1) Journal of Clinical Oncology 37, no. 15_suppl (May 20, 2019) 9534 - 9534. Checkpoint response rate increased from 35% to 79% SD - 101 Improved Responsiveness to Anti - PD1 Therapy in CPI Naïve Patients • SD - 101 + pembro ORR 79% compared to single agent pembro ORR of
Slide 30: Summary of Initial PERIO Platform Experience
Summary of Initial PERIO Platform Experience 1) TriSalus clinical data on file 2) TriSalus clinical data on file and Ghosh, et al. Cancer Gene Therapy. 2022 June 14 (online ahead of print) 3) Reflects data obtained prior to acquisition of SD - 101. Dynavax Phase 1 / 2 Superficial Tumor Programs (SD
Slide 31: Our Platform Has the Potential to Set New Immunotherapy Benchmarks
Building on previous Dynavax SD - 101 + CPI data with ORR of 79% in cutaneous melanoma Our Platform Has the Potential to Set New Immunotherapy Benchmarks 1) Refer to drug product package insert 2) For UM: Nat Commun 2012 12(1):5155 3) For UM: J Clin Onc 2021 39(6) 599 - 607 4) NEJM Evid 2022; 1 (8)
Slide 32: Potential for Approval as Early as 2025
Potential for Approval as Early as 2025 Orphan and ultra - orphan indications offer a potential pathway towards accelerated approval x Both ICC and uveal melanoma have potential to access expedited development programs/review pathways (i.e. Breakthrough or Fast Track Designation and Priority Review)
Slide 33: Pipeline Designed to Enable CPI in Liver and Pancreas Tumors
CPI = Checkpoint Inhibitors; HAI = Hepatic Arterial Infusion; PDAC = Pancreatic Ductal Adenocarcinoma; PRVI = Pancreatic Retrograde Venous Infusion; IND = Investigational New Drug 1) HCC and ICC will be studied jointly in phase 1b. Separate phase 2 studies will be opened for each indication. Platfor
Slide 34: SD-101 / PEDD Platform Milestones
= Completed milestone SD - 101 + PEDD Platform PEDD Platform Clinical trial programs on track SD - 101 / PEDD Platform Milestones F i n a n c i n g p r o c e e d s 2 e x p e c t e d t o e x t e n d c a s h r u n w a y t h r o u g h l a t e 2 0 2 4 1) HCC and ICC will be studied jointly in phase 1b.
Slide 35: Addressable Population and Market Opportunity for SD-101
1) Assumes a cost per course of therapy of $200,000. Does not include the total addressable market for TriNav of $368.0 million. 2) American Cancer Society, National Cancer Institute. 3) Management estimates based on TriSalus data and models on file, prepared by Lumanity. 4) American Cancer Society,
Slide 36: Interweaving Patents and Exclusivity for Long Term IP Protection
Interweaving Patents and Exclusivity to Increase Long Term Protection of Intellectual Property • TriNav and SD - 101 Product - Specific IP • Methods of Treatment (“MoT”) — New Indications — Combo Therapies — Optimal pressure range and dose • Platform IP • Method, optimal pressure range to overcome p
Slide 37: Patent Overview
Patent Overview 29 Patent Families, 106 Issued patents, 49 pending applications (including 3 pending provisional applications) 2016 2018 2020 2022 2024 2038 2040 Timeline of SD - 101 Patents and Patent Applications 1) Extension to be applied for if product candidate approved. 2) Patent application h
Slide 38: Business Combination Overview
Business Combination Overview © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 38
Slide 39: Investment Highlights
Investment Highlights 2 3 4 1 Commercial - stage FDA cleared device with an estimated $23.6mm sales in 2023 and a cash flow positive device business anticipated in 2024 Additional upside in pharma with delivery platform partnerships Leveraging proprietary device with unique immunotherapeutic asset t
Slide 40: TriSalus has Opportunities for Significant TAM Upside
TriSalus has Opportunities for Significant TAM Upside $12.6mm $368.0mm 1 $15,000.0mm 2 SD - 1 0 1 A n n u a l TA M T r i N a v A n n u a l TA M 2 0 2 2 E R e v e n u e © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 40 1) TriSalus company market res
Slide 41: Putting the Valuation of TriSalus into Context
Putting the Valuation of TriSalus into Context Source Capital IQ, SEC Filings. Data as of 11/07/22. Peers selected based on management’s judgement and may not be fully comparable to TriSalus. Metrics based upon consensus forecasts. This business combination is an opportunity to invest in a different
Slide 42: Transaction Summary
Transaction Summary ▪ The transaction is expected to close in Q1 2023. ▪ Post - closing, the combined company is anticipated to be listed on the Nasdaq, and will be named TriSalus Life Sciences. ▪ Proceeds will be used for the continued commercialization of TriNav and the advancement of the Company’
Slide 43: Thank you!
Thank you! © 2022 TriSalus Œ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution.