Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — Investor Presentation (September 2021)
45 slides from Imricor Medical Systems's investor presentation, Sep 9, 2021
Slide 1: Investor Presentation
For personal use only Investor Presentation September 2021
Slide 2: Disclaimer
Disclaimer For personal use only The material contained in this presentation is intended to be general background information on Imricor Medical Systems, Inc. (Imricor) and its activities. The information is supplied in summary form and is therefore not necessarily complete. It is not intended that
Slide 3: Executive Summary
1 Executive Summary For personal use only 3 September 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 4: Imricor at a glance
Imricor at a glance Imricor develops commercially viable and safe MRI-compatible products to the cardiac catheter ablation market For personal use only 2 core products Regulatory approval $6bn addressable • Advantage-MR EP Recorder 10 labs signed market1 (Capital sale) to date across Germany, The in
Slide 5: Investment Highlights
Investment Highlights For personal use only Founder-led business with deep The world’s first and only commercially med-tech experienced available MRI compatible ablation management team catheter What are the problems that we are trying Large addressable market, Strong IP portfolio and to solve ? est
Slide 6: The problems we are trying to solve through MRI-guided ablation procedures
The problems we are trying to solve through MRI-guided ablation procedures For personal use only Procedure Procedure Visualisation Cost Safety effectiveness time • X-ray imaging provides • Inability to determine • Repeat procedures can • Conventional 3D mapping • Patient and doctor Existing Challeng
Slide 7: Current product portfolio – enabling ablations guided by MRI
Current product portfolio – enabling ablations guided by MRI Consumable Products For personal use only Vision-MR Ablation Catheter Vision-MR Dispersive Electrode • Received CE mark approval in January 2020 • Ablation catheter CE mark approval with an indication for treating type 1 atrial flutter • I
Slide 8: Strong management team with deep MedTech experience
Strong management team with deep MedTech experience For personal use only Steve Wedan, Lori Milbrandt, Gregg Stenzel, Dan Sunnarborg, CEO CFO COO VP of Engineering • Over 30 years of medical device • Over 35 years of accounting and • Over 25 years of medical • Over 27 years of engineering experience
Slide 9: A strong and growing market in cardiac ablation
A strong and growing market in cardiac ablation A large global addressable market with high growth potential supported by favourable growth drivers For personal use only Drivers of Global Catheter Ablation Market Cardiac Ablation Disposables Market: US, EU, ANZ Catheter Sales (USD M) $9,000.00 • Inc
Slide 10: Support from Key Opinion Leaders
Support from Key Opinion Leaders For personal use only “Today we did our first case since “Today in our ablation we realised “We are very excited to have taken “It is obvious to us that iCMR COVID. It was a beautiful case, and that we were limited in the past, this important step toward guided ablat
Slide 11: A strong intellectual property portfolio
A strong intellectual property portfolio For personal use only 19 issued U.S • Imricor’s IP is relatively new, with the Company’s oldest issued patent expiring in Patents 2030 • In addition to protecting Imricor’s devices and procedures, its patents provide an opportunity for the Company to license
Slide 12: Compelling Value Propositions
Compelling Value Propositions Imricor believes its products have the potential to successfully address unmet needs in the cardiac catheter ablation market and deliver value to stakeholders For personal use only Patient Doctor Payer Hospital ✓ Higher single procedure ✓ Improved visualisation of ✓ Sim
Slide 13: Delivering on our Vision since IPO
Delivering on our Vision since IPO For personal use only More sites More procedures Higher ASP and doing procedures per site margin improvement Grow installed base 1 Expand indications 3 New product development 4 Expand geographies 2 13 Investor Presentation, September 2021
Slide 14: Key initiatives to support our Strategy
Key initiatives to support our Strategy For personal use only Regulatory Approval Site Expansion Hospital Engagement Strategic Partnerships Europe Grow installed base 1 Manufacturing Grow sales & marketing Engagement with Key Opinion Leaders Growing exposure through conferences / opportunities journ
Slide 15: Business Update and Outlook
2 Business Update and Outlook For personal use only 15 September 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 16: Key achievements since IPO
Key achievements since IPO For personal use only • First commercialisation contract signed in • Awarded National Institutes of Health • Re-commence site expansion as COVID restrictions ease Netherlands with the Amsterdam University Medical contract • Commercial release of diagnostic catheter Centre
Slide 17: Value Catalysts
Value Catalysts There are a number of key catalysts both in the near and medium-term that will enhance Imricor’s value proposition and deliver significant upside to shareholders For personal use only Indicative Event Commentary Benefit Timing • Tangible evidence that we are delivering biopsy; physic
Slide 18: Value Catalysts (cont'd)
Value Catalysts (cont’d) There are a number of key catalysts both in the near and medium-term that will enhance Imricor’s value proposition and deliver significant upside to shareholders For personal use only Indicative Event Commentary Benefit Timing Not CE mark – Philips and Siemens • Increases si
Slide 19: Our focus for the year ahead
Our focus for the year ahead Focused on managing the recovery from the effects of the COVID-19 pandemic For personal use only Commercialisation • Steady re-launch of site expansion in the second half of 2021 1 • Increased utilisation of the Philips sales force to drive the pipeline of iCMR labs • On
Slide 20: Financial Performance
3 Financial Performance For personal use only 20 September 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 21: Profit and loss
Profit and loss For personal use only US$’000 HY21 HY20 Commentary Revenue 366 277 • Operational expenses increased in 2021 due primarily to additional Operational expenses (5,249) (3,100) staffing ($1,099k), inventory reserves ($407k) and D&O insurance R&D expenses (4,475) (2,290) ($280k) Other exp
Slide 22: Revenue breakdown
Revenue breakdown Despite COVID-19 disruption on the site expansion and number of procedures performed, Imricor is well placed to capitalise on a significant list of long-term opportunities in the cardiac ablation market For personal use only Commentary 196 • Imricor currently generates revenue thro
Slide 23: Offer Summary
4 Offer Summary For personal use only 23 September 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 24: Capital Raising Summary
Capital Raising Summary For personal use only • Imricor Medical Systems, Inc. (“Imricor”) is undertaking an institutional placement to professional and sophisticated investors of CHESS Depositary Interests ("CDIs" or “Securities”) over fully paid Class A common stock (“Shares”) to raise approximatel
Slide 25: Proposed Use of Funds
Proposed Use of Funds Sources of Funds A$m US$m1 % For personal use only Sales and marketing Placement proceeds 16.5 12.3 100.0% • Additional sales and clinical support staff to drive lab adoption and increased catheter utilisation Total sources 16.5 12.3 100.0% • Increased physician training to sup
Slide 26: Indicative Timetable
Indicative Timetable For personal use only Key event Date1 Record date for SPP 7:00pm Tuesday, 7 September 2021 Trading halt lifted, announcement of Placement and SPP Wednesday, 8 September 2021 Settlement of New Securities under the Placement Monday, 13 September 2021 Allotment and ASX quotation of
Slide 27: Appendix A – Detailed Progress Since IPO
Appendix A – Detailed Progress Since IPO For personal use only 27 Investor Presentation, September 2021
Slide 28: Growth Strategy – Grow Installed Base
1 Growth Strategy – Grow Installed Base Despite COVID-19 disruption for the past 18 months, IMR managed to sign up 10 hospitals whilst making significant progress for all other initiatives to support our vision of driving greater lab adoption in Europe For personal use only PROGRESS TO DATE RELATIVE
Slide 29: Growth Strategy – Expand Geographies
2 Growth Strategy – Expand Geographies Imricor aims to commence sales in the ANZ region in the near term with the overall path to the US FDA approval on track for the end of CY23 For personal use only INITIATIVE PROGRESS TO DATE RELATIVE TO EXPECTATION AT IPO ✓ Completed pre-submission meetings with
Slide 30: Growth Strategy – Expand Indications
3 Growth Strategy – Expand Indications Compelling opportunity to target VT market which has growing procedure rates and higher value per procedure. IMR have successfully completed integration with other systems to enable seamless VT ablation For personal use only INITIATIVE PROGRESS TO DATE RELATIVE
Slide 31: Growth Strategy – New Product Development
4 Growth Strategy – New Product Development Our near-term product pipeline is expected to drive margin improvement and expand our addressable market size as well as diversifying our revenue stream For personal use only INITIATIVE PROGRESS TO DATE RELATIVE TO EXPECTATION AT IPO ✓ Won US National Inst
Slide 32: Appendix B – Overview of Imricor
Appendix B – Overview of Imricor For personal use only 32 Investor Presentation, September 2021
Slide 33: Company timeline
Company timeline For personal use only 2006 • Imricor is established 2019 • Listed on ASX (ASX: IMR) 2007 • Licensed IP from Johns Hopkins University 2020 • Received CE mark approval for Vision-MR Ablation Cather & Vision-MR 2015 • Signed joint research agreement Dispersive Electrode 2008 • Received
Slide 34: Heart arrythmias and conventional treatment options
Heart arrythmias and conventional treatment options In the absence of MRI-compatible catheter ablation devices, physicians have been unable to take advantage of the potential benefits related to MRI guided ablation procedures for treating arrhythmias For personal use only Arrhythmias Conventional Tr
Slide 35: The problems we are trying to solve through MRI-guided ablation procedures
The problems we are trying to solve through MRI-guided ablation procedures For personal use only Procedure Procedure Visualisation Cost Safety effectiveness time • X-ray imaging provides • Inability to determine • Repeat procedures can • Conventional 3D mapping • Patient and doctor Existing Challeng
Slide 36: Our business model
Our business model Today Imricor primarily generates revenue from the sale of its capital equipment and consumable products For personal use only REVENUE MODEL Capital Equipment Consumables Other (One-off sale) (Ongoing sales) Advantage-MR EP Vision-MR Ablation Catheter IP Licensing Recorder/Stimula
Slide 37: Pipeline products under development
Pipeline products under development Consumable Products For personal use only Diagnostic Catheter Steerable Sheath and Transeptal Needle • Aiming for late 2021 or early 2022 • Currently in prototype phase commercial release, pending CE mark • Aiming for pre-clinical study in Q4 2021 to approval supp
Slide 38: Partnering to drive growth in clinical sites
Partnering to drive growth in clinical sites Imricor has entered into a number of agreements that promote future iCMR site adoption For personal use only • Non-exclusive collaborative sales • Executed a master purchase agreement • Entered a sales collaboration, to facilitate • Entered a Supply and S
Slide 39: Appendix C – Key Risks
Appendix C – Key Risks For personal use only 39 Investor Presentation, September 2021
Slide 40: Key risks related to Imricor's business
Key risks related to Imricor’s business The items below describe some of the key risks associated with Imricor’s business For personal use only Regulatory risk Whilst Imricor has received CE mark approval for its Vision-MR Ablation Catheter and Vision-MR Dispersive Electrode, Imricor is not assured
Slide 41: Key risks related to Imricor's business (cont'd)
Key risks related to Imricor’s business (cont’d) The items below describe some of the key risks associated with Imricor’s business For personal use only Competition risk Imricor expects to generate the vast majority of its revenue going forward from the sale of its products used for MRI-guided cardi
Slide 42: Appendix D – International Offer Restrictions
Appendix D – International Offer Restrictions For personal use only 42 Investor Presentation, September 2021
Slide 43: International Offer Restrictions
International Offer Restrictions Important Information For personal use only This presentation does not constitute an offer of securities in any jurisdiction in which it would be unlawful. In particular, this presentation may not be distributed to any person, and Imricor securities may not be offere
Slide 44: ADVANTAGE-MR Digital Amplifier Stimulator
ADVANTAGE-MR Digital Amplifier Stimulator
Slide 45: Contact information
Contact information For personal use only Investors: Investors & Australian Media: Steve Wedan Brett Ward Executive Chair, President & CEO Cato & Clive Email: steve.wedan@imricor.com Email: brett@catoandclive.com Rest of World Media: Investors (Australia): Nick Twohy Aisha Jabeen Director of Marketi
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