Verici Dx Plc · LSE:VRCI
Verici Dx — H1 2022 Earnings Presentation
18 slides from Verici Dx's earnings presentation, September 2022
Slide 1: Interim Results to 30 June 2022
Interim Results to 30 June 2022 September 2022
Slide 2: Disclaimer
DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA (THE "U.S.") (EXCEPT TO CERTAIN INVITED QIBS AND AIS (AS DEFINED BELOW), CANADA, AUSTRALIA, JAPAN OR ANY JURISD
Slide 3: Vision: An integrated platform
Vision: An integrated platform Data for Research Collaborations AUTO-IMMUNE DISEASES PRE-TRANSPLANT | EARLY-STAGE DAMAGE | LATE-STAGE DAMAGE Kidney Transplant Data-centric approach expected to increase OTHER ORGANS the pace of In-licensing, partnering or acquisition innovation in of new technologies
Slide 4: Commercial pathway
Commercial pathway Milestones Status Next Steps Tuteva Clinical Trial Commercial soft launch Clarava Clinical Trial Expanded enrolment to support commercial adoption PLA codes for Clarava and Tuteva Each has unique code Awaiting decision between crosswalk or gapfill pricing Pricing for Clarava and T
Slide 5: Additional Operational Highlights
ADDITIONAL OPERATIONAL HIGHLIGHTS Operational highlights (including post-period end) • Completed analytical validation for Clarava™ and Tuteva™ in February 2022, an essential element of defining the performance characteristics and platform capabilities of in vitro diagnostic (IVD) assays and a key m
Slide 6: Cash Flow Statement
Cash Flow Statement Six months to 30 June 2022 - Unaudited Comments $’000 • Operating flows: minimal movement in Net outflow from operating activities (5,028) working capital in period, but includes $90k costs of share issue, so underlying Investing activities (722) net cash outflow $4,938k Financin
Slide 7: Income Statement
Income Statement Six months to 30 June 2022 - Unaudited Comments $’000 • Adjusted EBITDA loss $4.9m Administrative expenses (4,914) • Largest items of expenditure: Depreciation and amortisation (275) - Wages: $1.3m Share based payments charge (195) - R&D: $2.3m Costs of share issue (90) Interest inc
Slide 8: Balance Sheet
Balance Sheet As of 30 June 2022 - Unaudited Comments $’000 • Tangibles: $561k spent in period on CLIA Tangible assets 1,310 lab Intangible assets 1,944 • Intangible: $1.5m cost of original license from Renalytix and additional spend on Receivables 516 licenses and patents Cash at bank 15,717 • Rece
Slide 9: Summary and Outlook
SUMMARY AND OUTLOOK Strong progress to date in our transitional year • Focus for rest of 2022 and beyond is on commercial launch of Tuteva: - Scaling from soft launch in 2022 to wider commercial launch in 2023 - Core commercial team in place • Developing health economics model to support commerciali
Slide 10: Appendix
Appendix • Summary Investment Thesis • Board • Scientific Advisory Board • Market Need and Verci Dx Products • Data Advantage
Slide 11: Investment Thesis
Investment Thesis Significant Unmet - Unacceptably high rate of transplant rejection (37-50%) with inadequate standard of care Need and Large Market - Large addressable market opportunity worth over $5bn and growing - RNA signature-based transplant technology producing high performing and actionable
Slide 12: Experienced Leadership for developing and commercializing kidney transplants assays
Experienced Leadership for developing and commercializing kidney transplants assays Sir Ian Carruthers Julian Baines Senior Independent Non-executive Chairman Non-executive Director EKF Diagnostics, BBI Chancellor UWE, Snr Director NHS Lorenzo Gallon Erik Lium Independent Non-executive Non-executive
Slide 13: Multinational Science Advisory Board of Key Opinion Leaders
Multinational Science Advisory Board of Key Opinion Leaders Lorenzo Gallon, MD (Chair) • Five (5) past presidents of major Tony Dorling, MD international Transplant organizations Richard Formica, MD (AST, TTS, ASTS) Roslyn Mannon, MD • Current President of American Peter Nickerson, MD Society of Tra
Slide 14: Large and growing issue has stimulated disruptive policy shifts
Large and growing issue has stimulated disruptive policy shifts About 300k globally people waiting for transplants • US Executive order 2019 “Advancing American Kidney Health” • 95,000 global kidney transplants p.a. 24,000 US / 25,000 Europe • Goal: to double supply of transplants • Average cost of
Slide 15: Critical need for personalized diagnostic information
Critical need for personalized diagnostic information What is the risk of Is the graft being rejected rejection? or damaged? Current practice: Current practice: Standard of Care Broad Clinical Factors/Score • Misses 30% of all cases • Too general and Therapeutic Dilemma largely ignored Competitive t
Slide 16: 3 foundational tests, enhanced end-to-end transplant testing
3 foundational tests, enhanced end-to-end transplant testing for improved outcomes Pre-Transplant Prognostic Patients now can Post-Transplant Prognostic mRNA 10 gene Signature be prescribed mRNA 17 gene Signature treatment at an Advantages: Advantages: • Provides risk score for early acute appropria
Slide 17: Initial Products: Total addressable market circa $5bn over 5 years
Initial Products: Total addressable market circa $5bn over 5 years Pre-Transplant Evaluation Post-transplant Follow-up Addressable market increases with underlying growth $450 million p.a. $300 million p.a. and increased $1.5 bn supply $2.25bn over 5 years over 5 years Assumes 2 tests Assumes 3 test
Slide 18: Unparalleled data set for leading competitive advantage
Unparalleled data set for leading competitive advantage Next Generation Sequencing enables data capture on the Patient information samples and CLINICAL patient’s entire transcriptome BIOMARKERS therapeutic dosing information of about 25,000 genes DATA collected on a longitudinal basis Artificial Int