Slide 1: Molecular Diagnostics at the Point of Need
Molecular Diagnostics at the Point of Need Interim Results (to Dec-17) 20 March 2018
Slide 2: Document Information
2 Decentralising molecular diagnostics DOCUMENT INFORMATION The information contained in this document and made verbally to you (together the “Presentation”) is confidential and is being supplied to persons with professional experience in matters relating to investments and/or to high net worth comp
Slide 3: Overview Genedrive plc (LSE: GDR)
3 Decentralising molecular diagnostics OVERVIEW GENEDRIVE PLC (LSE : GDR) Our focus is on Global Heath Rapidly developing, Opportunities Genedrive® HCV ID Kit first on market commercial-stage Current commercial execution on HCV. R&D investment on TB and First company to introduce molecular HCV, whil
Slide 4: Highlights HY17/18 (including post-period end)
4 HIGHLIGHTS HY17/18 (INCLUDING POST-PERIOD END) • Diagnostic related income up 8.3% to £1.3M (2016: £1.2M) while overall turnover of £2.6M slightly down on 2016 £2.9M • Genedrive HCV ID kit CE marked and commercial roll- out began, with first commercial sales and shipped to EMEA and APAC • Importan
Slide 5: Company Overview: Genedrive Technology
5 COMPANY OVERVIEW GENEDRIVE ® TECHNOLOGY Rapid results in small hospitals and clinics Technology platform • Prompt clinical decisions are possible - sample to result in as brings the power of little as 50 minutes vs days from a service laboratory molecular Easy of Use diagnostics outside • Single u
Slide 6: Commercial Opportunities and Strategy
6 COMMERCIAL OPPORTUNITIES AND STRATEGY Genedrive® is an Internally Develop and Drive Assay Menu effective, low cost, • HCV - new and growing markets with Genedrive® first to market molecular solution • mTB/RIF – Large well defined market and commensurate across a broad commercial reach via Sysmex •
Slide 7: Genedrive Opportunity in HCV Diagnostics
7 GENEDRIVE® OPPORTUNITY IN HCV DIAGNOSTICS • HCV is a blood-borne virus which primarily affects the liver - no vaccine • NEW Direct Acting Antiviral Therapy (DAAs) make HCV a curable disease; investment is now flowing for diagnostics and treatment • Only 20% of people infected with HCV are diagnose
Slide 8: Route to Market Secured
8 ROUTE TO MARKET SECURED • Sysmex Europe contracted for EMEA, initially focused on Africa • Sysmex in Africa consists of 29 distributors covering 46 Sub-Saharan African countries • Sysmex Asia contracted for APAC region and includes key targets in Bangladesh, Pakistan and Malaysia About Sysmex • Wo
Slide 9: Genedrive Commercialising HCV Diagnostics
9 GENEDRIVE® COMERCIALISING HCV DIAGNOSTICS On Track Funding for Initial plasma prep World Class Shipments Distributor secured made CE Marking Secured for HCV ID kit New Target Market • Sysmex bring global reach via large distributor network • Assay validity confirmed via independent study • Country
Slide 10: Genedrive Opportunity in mTB Diagnostics
10 GENEDRIVE® OPPORTUNITY IN MTB DIAGNOSTICS • Diagnosis of mTB is a large and well defined market opportunity for Genedrive® • 77m sputum smear microscopy tests performed annual in 22 high burden countries – at least 42,000 dedicated microscopy centres • Molecular testing is the fastest growing TB
Slide 11: Genedrive Opportunity to Re-launch mTB
11 GENEDRIVE® OPPORTUNITY TO RE-LAUNCH MTB Contractual Secured Distribute via and Sample Reformulate Launch India Launch Exit Partner global Component Prep assay “global” assay partners issue Funding • Lessons learnt from India launch • Investment focused on sample preparation, global market and cos
Slide 12: Genedrive Opportunity in Rapid Testing Solutions
12 GENEDRIVE® OPPORTUNITY IN RAPID TESTING SOLUTIONS • Rapid diagnosis of drug response (pharmacogenomics) has global applicability in many healthcare settings • We have identified a number of areas where Genedrive application could inform the delivery of drug treatment • Exploiting such Single Nucl
Slide 13: Other Sample Genedrive Applications
13 OTHER SAMPLE GENEDRIVE® APPLICATIONS • Genedrive® developed as a hand held bio-warfare testing system funded by US DoD • Final project deliverable in Q3, no further development revenue is forecast. End user does not provide demand planning visibility. Only Monitoring fees are included in financia
Slide 14: Services Operations
14 SERVICES OPERATIONS Pharmacogenomics • Strategic objective to dispose of Services division • Genomic markers of drug and disease effect • 2017 Interim revenues £0.3m (2015: £0.7m) • Engaged advisor to run a controlled • EBITDA loss (£41k) (2016: £65k) and public process • GSK preferred supplier •
Slide 15: Financial Highlights
15 FINANCIAL HIGHLIGHTS • Turnover £2.6M slightly down on 2016 £2.9M • Genedrive related income up 8.3% to £1.3M (2016: £1.2M) • Genedrive income includes final elements of DoD projects • Conditional £1.1M offer from Innovate UK to part fund mTB sample preparation process • Grant funding towards HCV
Slide 16: Financial Overview: Revenue
16 FINANCIAL OVERVIEW REVENUE • Turnover £2.6M versus 2016 £2.9M, with the £1.6m reduction in the Services business £1.3m £1.3m £1.3m • Genedrive related income up 8.3% to £1.3M (2016: £1.2m £1.2M) • Genedrive related income entirely DoD £0.7m • Final DoD shipment made and no material income forecas
Slide 17: Cashflow Overview
17 CASHFLOW OVERVIEW Reported Remove 1-off inflows £5.1m (£0.5m) (£1.7m) £1.2m £4.6m (£1.2m) (£0.1m) £2.5m ) (£0.8m) £2.6m Cash Jun 17 EBITDA WC Tax Dec 17 Tax DoD Consumption Underlying cash consumption for six months £2.5m
Slide 18: Cashflow Details
18 CASHFLOW DETAILS 2016 2017 £’000 £’000 • EBITDA improvements from mix of profitable DoD EBITDA (1,897) (1,664) revenue in top line Working capital 450 (141) • Working capital outflows related to reduction in Interest expense 9 6 payables and no large debtor benefits as enjoyed in Capex (33) (12)
Slide 19: Rapidly Developing Commercial-Stage Molecular Diagnostics Business
19 RAPIDLY DEVELOPING COMMERCIAL-STAGE MOLECULAR DIAGNOSTICS BUSINESS 1 Innovative, cost effective technology with unique USPs 2 HCV ID kit on market and distributed via Sysmex in EMEA and APAC 3 Grant funding secured to enhance and refinance HCV (£0.5M) and mTB (£1.1M) 4 Targeting human genotyping
Slide 20: Thank you
Thank you David Budd CEO d.budd@genedrive.com www.genedriveplc.com