Angiodynamics, Inc. · NASDAQ:ANGO
Angiodynamics — Investor Day (July 2021)
60 slides from Angiodynamics's investor day presentation, Jul 13, 2021
Slide 1: Investor & Technology Day July 2021
1 Investor & technology day JULY 2021
Slide 2: Agenda
AGENDA 9:30 – 10:50 AM ET | BUSINESS PRESENTATIONS ANGIODYNAMICS OVERVIEW GROWTH STRATEGY & TECHNOLOGY OVERVIEW KEY TECHNOLOGY PLATFORM OVERVIEW Thrombus management – ANGIOVAC & ALPHAVAC PERIPHERAL ATHERECTOMY – AURYON IRREVERSIBLE ELECTROPORATION – NANOKNIFE VASCULAR ACCESS AND MED DEVICES GLOBAL H
Slide 3: Notice Regarding Forward-Looking Statements
3 Notice Regarding Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics’ expected future financial position, results of operations, cash flows, business strat
Slide 4: Disclaimers
4 Disclaimers:This presentation includes videos of key opinion leaders, who are paid consultants of AngioDynamics. The views and opinions expressed by these key opinion leaders are their own and do not necessarily reflect the views and opinions of AngioDynamics.The FDA-approved/cleared labeling for
Slide 5: AngioDynamics history in Catheter Valley
AngioDynamics has a rich history that is deeply rooted in upstate New York’s region known as “Catheter Valley.” The Company has grown through its many phases to become a global, industry-leading provider of high-quality medical technology used by physicians for the treatment of cancer and peripheral
Slide 6: Strategic Transformation
PURSUE LARGER, FASTER GROWING MARKETSActive portfolio management enables us to compete in larger, faster growing markets relying on technology & innovation to produce measurable patient outcomes DEPLOY FOCUSED RESOURCE DEVELOPMENTResource deployment focused in areas that offer better opportunities f
Slide 7: Med Tech and Med Device portfolio
Diagnostic Catheters, Guidewires and Kits Vascular Access Catheters and Accessories Microwave & Radiofrequency Tumor Ablation Endovenous Laser Treatment Lung Biopsy Safety Radiation Treatment Stabilization Balloons MED TECHInvest for Growth MED DEVICEMaintain Positioning Thrombus Management Irrevers
Slide 8: Focus on Innovative Medical Technologies
Focus on Innovative Medical Technologies Leveraging three main drivers to carve out our space in large, growing markets through innovative, disruptive technologies that treat patients with cancer, promote healthy blood flow and deliver critical therapies. M & A R & D Clinical & Regulatory Pathway Ex
Slide 9: Focused Transformation: U.S. Total Addressable Markets
FOCUSED TRANSFORMATIONU.S. Total Addressable Markets FY2021 Launch of the Auryon System gives us access to the peripheral atherectomy market Planned Thrombectomy & NanoKnife System portfolio additions & new indications increase market access $3.0B 2-5% Mkt CAGR $5.5B 3-7%Mkt CAGR $8.0B 3-7%Mkt CAGR
Slide 10: Technology Pipeline
TECHNOLOGY PIPELINE FY22 FY23 FY24 Thrombus Management Peripheral Atherectomy AlphaVac F2220, F22180 AlphaVac F1885 AngioVac F1885 AlphaVac F1885 PE, IDE Approval AlphaVac Lower Extremity (DVT), Smaller Cannula Auryon 2.0 Catheter Enhancements Prostate PRESERVE Study Irreversible Electroporation Pan
Slide 11: Thrombus Management
THROMBUS MANAGEMENT MED TECH
Slide 12: Deep Vein Thrombosis and Pulmonary Embolism
Deep Vein ThrombosisDVT + Pulmonary EmbolismPE = Venous ThromboembolismVTE A blood clot that forms in a deep vein, usually the leg, groin or arm A DVT breaks free from a vein wall and travels to the lungs blocking some or all of the blood supply DVT and PE are collectively referred to as VTE 208,000
Slide 13: DVT & PE Treatment Options
13 DVT & PE TREATMENT OPTIONSPercutaneous Thrombectomy CDT & US-CDTCatheter-Directed Thrombolysis (with or without the assistance of ultrasound) PCMTPharmacomechanical Thrombectomy Continuous Aspiration Suction Thrombectomy MTMechanical Retrieval Thrombectomy MAMechanical Aspiration(Small & Large) L
Slide 14: The Difference: AngioVac System
The Difference The AngioVac System allows for the continuous aspiration of embolic material such as fresh, soft thrombi or vegetation from the venous systemUtilizing a self-expanding, nitinol reinforced funnel tipSimultaneously reinfusing the patient’s own filtered blood to limit procedural blood lo
Slide 15: The Next Generation of AngioVac
THE NEXT GENERATION OF ANGIOVACPhysician requests for use in DVT drive new product development $1.6B Controlled Powerful Versatile THE NEXT PORTFOLIO INNOVATION A purpose-built, innovative product leveraging the strengths of the AngioVac cannula technology with off-circuit manual aspiration control
Slide 16: Handle Control Features
Handle | Control Features DIRECTIONAL LABELSCannula | Waste Bag SYRINGE BARREL DURABLE LABELSVisible in low light environments VOLUME LIMITING SWITCHIntuitive location | Multiple glove sizes VACUUM LOCKControlled, single-hand design ANGLED HILTEasy access to vacuum lock TEXTURED GRIPEnhances grip co
Slide 17: F1885 Cannula
F1885° Cannula | Simple Design. Powerful Features. Tapered Distal TipEnhanced navigation and safety Lubricious Shaft MaterialEasy delivery through tortuous anatomy Hemostasis ValvePrevents blood loss during device exchange Quarter Turn ValveLocks tip angle in place Side Arm Flush PortRemove air betw
Slide 18: Purpose-Built Portfolio from Neck to Knee
Purpose-Built Portfolio to Address the Removal of Clot & Thrombus from Neck to Knee F22180° Represents the French Size of our cannula Represents the Angle/Degree of our cannula tip Example AngioVac & AlphaVac Nomenclature F2220° F22180° F1885° F1310° F1885 ° PE NA AlphaVac commercial launch planned
Slide 19: Addressable Market
ADDRESSABLE MARKETThrombus Procedures by Location Right Heart/Atrium97K Patients$77M TAM IVC/SVC – Caval DVT20K Patients$360M TAM PE167K Patients$1.6B TAM Popliteal – DVT95K Patients$300M TAM Ilio-Femoral – DVT246K Patients$700M TAM RESTORATIVE FLOW THERAPIES Funnel TipOpening FR Size Cannula AngleD
Slide 20: RAPID Registry
RAPID REGISTRY i>) angiodynamics
Slide 21: Registry of AngioVac Procedures in Detail
Objective: To evaluate the patterns of use, safety and effectiveness data of the AngioVac device in bulk removal of endovascular material. Principal Investigator: Dr. John Moriarty, UCLANumber of patients enrolled: 234Number of sites: 21Recruitment goal: 200Timeline: 2016 - 2019 REGISTRY OF ANGIOVAC
Slide 22: RAPID – Target Anatomy
Right Heart Mass: 123Caval thromboembolism*: 91Catheter related thrombus: 25Pulmonary embolism*: 7Combination of above = 5.6 % 5.6% 1.7% 8.5% 35.9% 48.3% Right Heart Mass Caval thromboembolism Catheter related thrombus Pulmonary embolism Combination * The AngioVac Cannula is indicated for use as a v
Slide 23: RAPID – Key Takeaways
First large scale prospective multicenter assessment of the AngioVac system. RAPID – KEY TAKEAWAYS Effective: Majority of patients have > 70% clot/mass removed. Safe: 75% of all cases no RBC transfusion with 6 (2%) major hemorrhage, 1 procedure-related death.
Slide 24: PE IDE Study
PE IDE STUDY i>) angiodynamics
Slide 25: PE IDE Study
Seek FDA clearance for Pulmonary Embolism Indication: Determine the safety and effectiveness of the AlphaVac F1885° in a prospective trial of patients with acute intermediate-risk pulmonary embolism (PE)Patient Enrollment Target: 122Timeline: 2022-2024, Currently in study design discussions with FDA
Slide 26: Thrombus Management: Purpose Built Portfolio & Technology
THROMBUS MANAGEMENTPurpose Built Portfolio & Technology 26 Right Atrium AngioVac’s use is currently focused on the Right Atrium, which is a $77M addressable market. Pulmonary Embolism Deep Vein Thrombosis AlphaVac, a multi-purpose mechanical aspiration device, will allow us to compete in the broader
Slide 27: Planned Portfolio Additions & U.S. Addressable Markets
THROMBUS MANAGEMENTPlanned Portfolio Additions & U.S. Addressable Markets Expansion $1.3B FY 2021 FY 2022 FY 2023 FY 2025 FY 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 $140M $700M $3.6B $1.5B 1 2 The planned portfolio additions are not guarantees of future performance and are s
Slide 28: Peripheral Atherectomy
PERIPHERAL ATHERECTOMY MED TECH
Slide 29: Peripheral Atherectomy: US Addressable Markets & Competitive Landscape
MECHANICAL LASER $600M 23%1 1. Peripheral Vascular Devices Medtech 360 Market Analysis US 2017. (2016, December). Millennium Research Group, Inc. 77%1 2021 Served Market Over 8 Million2 Americans Suffer from PADOver 150,000 Limbs2 are Lost Every Year because of PAD50% Mortality Rate2 Associated with
Slide 30: Auryon System indication
The Auryon System is indicated for use in the treatment, including atherectomy, of infrainguinal stenoses and occlusions, including in-stent restenosis (ISR)1. 1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich I, et al. Novel laser-based catheter for peripheral atherectomy: 6-mont
Slide 31: Auryon catheter sizes and laser parameters
2.35 mmAspiration and Off-Center capabilities and indicated for Peripheral Atherectomy and In-Stent Restenosis (ISR) 2.0 mmAspiration capability and indicated for Peripheral Atherectomy and ISR 1.5 mmIndicated for Peripheral Atherectomy Why wavelength mattersEach type of tissue interacts differently
Slide 32: The Science of the Auryon System – Solid State Technology
The Science of the Auryon System – Solid State Technology The Auryon System is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.1,6 Competitive 308nm Laser 1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G,
Slide 33: The Science of the Auryon System: Wavelength & Pulse Width
The Science of the Auryon SystemWavelength & Pulse Width Competitive 308nm Laser 1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich I, et al. Novel laser-based catheter for peripheral atherectomy: 6-month results from the Eximo Medical B-LaserTM IDE study. Catheter Cardiovasc Inter
Slide 34: References
1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich I, et al. Novel laser-based catheter for peripheral atherectomy: 6-month results from the Eximo Medical B-LaserTM IDE study. Catheter Cardiovasc Interv. 2019;1-8. 2. Shammas NW, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich
Slide 35: Resiliency in the Face of All Lesions
FY21Procedures† 507945462469 ATKAbove the Knee BTKBelow the Knee 2,61752% 2,38348% 1,850767 Tibio-peroneal TrunkAnterior Tibial Peroneal TibialPosterior Tibial Common/Superficial Femoral ArteryPopliteal >5,000 Resiliency in the Face of ALL Lesions The Auryon System can handle it † Data on file ISR*
Slide 36: PATHFINDER-I Study Design
Post market, prospective, multicenter, single-arm, all-comers registry PATHFINDER-I Study Design 1at 30 days visit only MAEs are reported 104 Patients de novo, re-stenotic, and ISR lesions High procedural success with challenging lesions, including long occlusions, severely calcified lesions, and IS
Slide 37: Collaborations with our Physician Partners
Collaborations with our Physician Partners Retrospective Chart Reviews Prospective Investigator Initiated Trials Single Center Experience 70 Patients3-year follow up OBL Single Center Experience 55 Patients iDissection ATK 29 Patients iDissection BTK Procedural safety analyzed by IVUS post-laserFoll
Slide 38: Auryon launch: from zero to revenue
38 A revolutionary experience is exactly what AngioDynamics is delivering in the world of interventional devices used to perform peripheral atherectomy for peripheral arterial disease (PAD). The introduction of Auryon may seem like it’s another in a series of options for performing this procedure, b
Slide 39: Auryon Commercial Representatives, Procedures and Customers
A Compelling Technology Being Endorsed Through Experienced Users and Convincing Patient Outcomes 132 Auryon Commercial Representatives 5K Auryon Procedures FY21 47 Customers $11M
Slide 40: Irreversible Electroporation
IRREVERSIBLE ELECTROPORATION MED TECH
Slide 41: NanoKnife: Innovation Doctors Need
INNOVATION DOCTORS NEEDExpands treatment options and help preserve patient's quality of life DECELLULARIZATIONDestroys targeted tissue with precise treatment margins.1,2 PROBE PLACEMENTNanoKnife can be confidently used in all segments of an organ.1,2 NON-THERMALSpares vital structures by retaining t
Slide 42: NanoKnife System Total Addressable Market
$1.6B Interventional Oncology Devices Medtech 360 Market Analysis US 2016. (2016, December). Millennium Research Group, Inc.“Cancer Facts & Figures 2021.” American Cancer Society, www.cancer.org/research/cancer-facts-statistics/all-cancer-facts-figures/cancer-facts-figures-2021.html. 2021 Total Addr
Slide 43: Prostate Cancer Treatments
Can be confidently used in all segments of an organ. 4,5 RADICAL RADIATION In 2021 248,530 men are estimated to be diagnosed with prostate cancerin the US.1 RADICAL SURGERY 27% undergo 31% undergo 35% report erectile dysfunction 79% report erectile dysfunction PROSTATE CANCERTreatments 1 “Cancer Fac
Slide 44: Focal Therapy
44 FOCAL THERAPYBridges the gap between whole gland treatments and active surveillance1 Tareen B, Godoy G, Taneja SS. Focal therapy: a new paradigm for the treatment of prostate cancer. Reviews in urology. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2809988/. Published 2009. Accessed January 7, 202
Slide 45: Focal Therapy: U.S. Served and Target Markets
45 FOCAL THERAPYU.S. Served and Target Markets Qualified Patients Focal Procedures 0 25,000 50,000 75,000 100,000 1 Definitive Healthcare All-Payor Hospital Outpatient Volume by CPT Code, 02/05/20212 “Cancer Facts & Figures 2021.” American Cancer Society, www.cancer.org/research/cancer-facts-statist
Slide 46: Focal Therapy Adoption Remains Low
46 Existing thermal technology has less than ideal outcomes1,2 1. Worrell Design. Next Gen Voice of Customer, 2020.2. Sivaraman A, Barret E. Focal Therapy for Prostate Cancer: An "À la Carte" Approach. Eur Urol. 2016;69(6):973-975. doi:10.1016/j.eururo.2015.12.0153. Klotz, MD, FRCSC, CM, Laurence Kl
Slide 47: DIRECT Study: Stage 3 Pancreatic Cancer
47 To evaluate the effectiveness and safety of the NanoKnife System for the ablation of Stage 3 pancreatic cancer 1 “The Anatomy of the Pancreas.” Verywell Health, 6 June 2020, www.verywellhealth.com/pancreas-anatomy-4800990.
Slide 48: NanoKnife Prostate Pivotal Study
Up to 20 Sites in the U.S. Pivotal study of the NanoKnife System for ablation of prostate tissue in an intermediate-risk patient population IDE Approved July 2nd, 2021 1 1. “The Future of Prostate Cancer Screening Is Here.” Https://Health.Clevelandclinic.Org/, 14 July 2020, health.clevelandclinic.o
Slide 49: PRESERVE Prostate IDE
PRESERVE Prostate IDE 37 SUO-CTC US sites responded to Call for Sites Up to 20 Sites to be selected, focused on geographic and demographic diversity, high-volume focal therapy institutions 100 Intermediate-risk patients enrolled through 1-year follow up SUO-CTC is a clinical research investigator ne
Slide 50: Right Treatment, Right Patient, Right Time
50 RIGHT TREATMENT RIGHT PATIENT RIGHT TIME 1 https://www.gaurology.com/dr-gonzalez-draws-upon-his-familys-own-prostate-cancer-experience-to-help-others/2 https://koelis.com/koelis-announces-first-procedures-in-3d-fusion-imaging-guided-focal-ablation-of-prostate-cancer-in-its-clinical-study-violette
Slide 51: Vascular Access & Devices
VASCULAR ACCESS & DEVICES MED DEVICE
Slide 52: Vascular Access
52 VASCULAR ACCESSSafely delivering medication to patients PORTFOLIO MARKET ACCESS PERFORMANCE PICCs Midlines Tip Location Ports Dialysis Point of Care Ultrasound Delivering on our product road map through a mix of R&D, clinical & regulatory pathway expansion and M&A will enable us to serve more pat
Slide 53: Vascular Access Product Portfolio – Today and Beyond
Pediatric PICCs Acute Patient Chronic Patient Midlines Ports Dialysis PICCs Vascular Access Product Portfolio – Today and Beyond FY’19 FY’21 “PICCs for Patients of All Sizes” FY’22 FY’23 AST Midline/EDC Next Gen C3 Wave FY’20
Slide 54: Healthcare Economics and Market Access Wins - IRE
Healthcare Economics and Market Access Wins - IRE CY2019 SIR Includes IRE in their universal training curriculumMedicare reviews new CPT for placement in APCs CPTs active/Outpatient IRE reimbursement assigned Outpatient Reimbursement active/Private Payers reported to pay OP CY2020 CY2021 Outpatient
Slide 55: Advancing Market Access: Physician & Patient Society Engagement
Advancing Market Access: Physician & Patient Society Engagement
Slide 56: Financial Goals & Capital Allocation Strategy
Financial Goals & Capital Allocation Strategy
Slide 57: Financial goals FY22–FY24
57 57 FY22 FY22 RevenueGrowth $305M – $310M5% - 7% Gross Margin ~55% Adjusted EPS $0.00 - $0.05 FY23 FY22 RevenueGrowth $330M – $336M7% - 9% FY24 FY22 RevenueGrowth $360M – $375M10% - 12% FY21 FY24 Tech CAGR30% - 35% Device CAGR1% - 3% Med Tech Med Device <20% ~35% Revenue Contribution Revenue Growt
Slide 58: Gross Margin
Gross MarginShifting to high margin portfolio expected to drive margin expansion Headwinds Tight labor marketDrives increasing costsImpacts absorptionRaw Materials Inflationary PressureIncreasing Freight CostsAuryon Impacts – will abate over timeOBL vs Hospital MixHardware placements Operational Foc
Slide 59: Capital Allocation
Focused on leveraging current operations to fund future investments in R&D and S&M Revolver capacity available for future opportunities if neededStrong banking group relationshipOpportunistic and disciplined approach to tuck-in M&A prospects that support our Med Tech platformsStrategic plan to conti
Slide 60: Strategic Transformation
PURSUE LARGER, FASTER GROWING MARKETSActive portfolio management enables us to compete in larger, faster growing markets relying on technology & innovation to produce measurable patient outcomes DEPLOY FOCUSED RESOURCE DEVELOPMENTResource deployment focused in areas that offer better opportunities f