Verici Dx Plc · LSE:VRCI
Verici Dx — FY2020 Earnings Presentation
24 slides from Verici Dx's earnings presentation, Apr 14, 2021
Slide 1: Final Results Presentation
Final Results Presentation Sara Barrington, CEO David Anderson, CFO Period ended 31 December 2020
Slide 2: Disclaimer
Disclaimer The information contained in this document has been prepared by Verici Dx plc (the ‘Group’ or ‘Company’). This document does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any shares in the Company nor shall it form the basis of or b
Slide 3: Overview
Overview - Immuno-diagnostics development company, initial focus on the kidney transplantation market - 5–10 million people die annually from kidney disease. (WHO) compared with 1.8m from lung cancer (leading cancer related death) and about 300k are currently waiting for a transplant - Two leading p
Slide 4: Experienced Leadership for developing and commercializing kidney transplants assays
Experienced Leadership for developing and commercializing kidney transplants assays Julian Baines Sir Ian Carruthers Non-executive Chairman Senior Independent EKF Diagnostics, BBI Non-executive Director Chancellor UWE, Snr Director NHS Barbara Murphy Erik Lium Independent Non-executive Non-executive
Slide 5: Multinational Science Advisory Board of Key Opinion Leaders
Multinational Science Advisory Board of Key Opinion Leaders Barbara Murphy, MD (Chair) Tony Dorling, MD • Five (5) past presidents of major Richard Formica, MD international Transplant organizations (AST, TTS, ASTS) Chris Larsen, MD, Dphil • Current President of American Roslyn Mannon, MD Society of
Slide 6: Operational & financial highlights
Operational & financial highlights - Verici Dx was successfully admitted to AIM in November raising gross proceeds of c. $18.8m (£14.5m) ▪Overview The Fundraising was significantly oversubscribed, and the current share price has notably outperformed the market since IPO ▪ The net proceeds are being
Slide 7: Post period end highlights
Post period end highlights - Overview Expanded scope of licence agreement with Mount Sinai, in January 2021, to include an additional patent filing related to the analysis of gene expression in a blood-based test (liquid biopsy) to predict risk of fibrosis (chronic kidney graft damage) and rejection
Slide 8: 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. • Goal: to double supply of 24,000 US / 25,000 Europe transplants Average cost of tran
Slide 9: 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: Broad Clinical Factors/Score Standard of Care • Too general and Therapeutic Dilemma • Misses 30% of all cases largely ignored Competitive t
Slide 10: Improved testing increases chances for graft survival
Improved testing increases chances for graft survival Pre-Transplant Prognostic Post-Transplant Diagnostic Patients now can be prescribed treatment at an appropriate level mRNA 23 gene Signature mRNA 17 gene Signature Advantages: Advantages: • Provides risk score for early acute • Specific real time
Slide 11: Initial total addressable market is about $700m p.a before growth
Initial total addressable market is about $700m p.a before growth Pre-Transplant Evaluation Post-transplant Follow-up Addressable market $285 million could triple should $428 million per annum supply issues be per annum addressed 11
Slide 12: Clarava's excellent performance and clinical relevance
Clarava’s excellent performance and clinical relevance Informs therapeutic modulation AUC PPV NPV Clarava - Verici 74% (95%CI: 0.62 – 0.86) 70% 88% No competitors - - - Clinical Characteristics 59% (95%CI: 0.49 – 0.69) 36% 86% Dosage Clarava predicts early acute rejection provides actionable insight
Slide 13: Tuteva's superior performance and clinical relevance
Tuteva’s superior performance and clinical relevance Prospera Underlying NGS Immuno Technology DD cfDNA DD cfDNA DD cfDNA Microarray Phenotype Clinical utility Direct measure of Indirect measure of Indirect measure of Indirect measure of Measure of immune immune response damage already damage alread
Slide 14: Transplant care focused into transplant centers
Transplant care focused into transplant centers What is the scope from the early What is the scope from CARE Dx 2019 adopters? the US and EU? 236 US transplant centers 10 transplant centers 150 Sites 227 EU transplant centres c. 1,900 transplants annually c. 49,000 transplants annually TAM – 9.5k te
Slide 15: Unparalleled data set for leading competitive advantage
Unparalleled data set for leading competitive advantage Extensive Data Next Generation Sequencing enables data capture on the patient’s entire transcriptome of Capture about 25,000 genes Enhanced Insight Patient information samples and outcomes collected over a 24-month period Comprehensive View of
Slide 16: Acceleration in regulatory and reimbursement pathways
Acceleration in regulatory and reimbursement pathways Regulatory pathway Reimbursement Leveraging experience 1 2 3 LDT is the preferred route ay in this area Process: obtaining a code, a price and Able to leverage the Renalytix (high complexity Lab) ensuring coverage, usually in sequence strategy an
Slide 17: Robust Clinical Pathway to revenues in two years
Robust Clinical Pathway to revenues in two years 2020 2021 2022 2023 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Clarava & Tuteva Utility Multi-center case validation Clinical Clinical validation studies trials utility utility trials completed completed studies studies commence started completed Data/AI overla
Slide 18: 2021 Outlook
2021 Outlook - Good progress achieved in such a short period of time, underpinned by: ▪ Successful executive hires ▪ Acceleration of CLIA laboratory opening and approvals strategy - On track to prosecute clinical trials successfully - Strengthened partnerships with leading US centres, with more US s
Slide 19: Audited Financial Report
Appendix Audited Financial Report 19
Slide 20: Consolidated Income Statement
Consolidated Income Statement For the period ended 31 December 2020 $’000 Admin expenses (1,595) Share based payments (2,795) • 10.6m of 14.6m options vested immediately IPO costs (275) • Portion of IPO costs not charged direct to reserves Interest (70) • Inputted interest on Convertible Loan Notes
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet As of 31 December 2020 $’000 Intangible assets 1,767 • FractalDx licence Tangible assets 464 Cash 17,751 • At y/e rate c £13.0m Other debtors 323 • Prepayments and VAT Accounts payable (394) Other liabilities (288) • Accruals and finance lease Share capital (182) Share pre
Slide 22: Consolidated Cash Flow
Consolidated Cash Flow For the period ended 31 December 2020 $’000 Cash used by operations (854) Investing (158) Net proceeds from IPO 17,835 Foreign exchange 928 • Strength of £ since IPO: $1.299 to $1.365 Cash balance 17,751 22
Slide 23: Verici Dx is poised to be at the forefront of kidney transplant diagnostics
Verici Dx is poised to be at the forefront of kidney transplant diagnostics Clearly differentiated Clinical Utility Key partnerships technology Direct measurement Patient and health economic Key influencers in of immune response outcomes are improved transplant facilitate a High clinical Therapeutic
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