Avita Medical, Inc. · NASDAQ:RCEL
Avita Medical — Shareholder Meeting (June 2023)
46 slides from Avita Medical's shareholder meeting presentation, Jun 6, 2023
Slide 1: Annual Meeting of Stockholders
For personal use only Annual Meeting of Stockholders JUNE 6, 2023 (PDT) / June 7, 2023 (AEST) NASDAQ: RCEL ASX: AVH ©Copyright 2021 AVITA Medical. All Rights Reserved.
Slide 2: Call To Order
Call To Order For personal use only Mr. Lou Panaccio, Chairman of the Board of AVITA Medical, Inc. 2
Slide 3: Representatives Present Today
Representatives Present Today Board of Directors Officers Advisers For personal use only Lou Panaccio Sean Ekins Chris Cunningham Chair of the Board of Directors Interim Chief Financial Officer U.S. Legal Adviser – Partner, K&L Gates LLP Chair of Today’s Meeting Donna Shiroma David Morris James Corb
Slide 4: Introduction of Independent Registered Public Accounting Firm
For personal use only Introduction of Independent Registered Public Accounting Firm Grant Thornton, LLP Represented by Cathy Hyodo
Slide 5: Experiencing Technical Difficulties?
Experiencing Technical Difficulties? For personal use only In the U.S. please call toll free: Outside the U.S. please call: +1 (888) 724-2416 +1 (781) 575-2748 4
Slide 6: Welcome / Brief Company Overview
Welcome For personal use only Brief Company Overview 3
Slide 7: Appointment of Inspector of Election
For personal use only Appointment of Inspector of Election Chairman to appoint Kerri Shenkin, Computershare US
Slide 8: Report By Secretary Of Mailing
For personal use only Report By Secretary Of Mailing Notice of Meeting
Slide 9: Presentation Of List Of Stockholders
For personal use only Presentation Of List Of Stockholders As Of Record Date Available upon request
Slide 10: Report Of Quorum
For personal use only Report Of Quorum Attendance at this meeting for a quorum
Slide 11: Opening of the Polls and Overview of Voting Proposals
Opening of the Polls and Overview of Voting Proposals • Polls for voting on all matters are open For personal use only • Proposals – The Board of Directors recommend a vote FOR all of the nominees listed in Proposal 1, and a vote FOR Proposals 2-14, except where their personal interest in a Proposal
Slide 12: Election of Directors and Approval of Additional Matters
For personal use only Election of Directors and Approval of Additional Matters
Slide 13: Proposal 1: Election of Directors
Proposal 1: Election of Directors To elect seven directors to serve a one-year term or until their For personal use only respective successors have been duly elected and qualified. 1. Lou Panaccio, Chairman of the Board of Directors 2. James Corbett, Executive Director and Chief Executive Officer 3.
Slide 14: Proposal 2: Ratify Grant Thornton
Proposal 2: For personal use only To ratify the appointment of Grant Thornton, LLP as the Company’s independent public accountants for the fiscal year ending December 31, 2023. 15
Slide 15: Proposal 3
Proposal 3: For personal use only To approve the grant of restricted stock units to acquire shares of Common Stock (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of Common Stock (which may be represented by CDIs) e
Slide 16: Proposal 4
Proposal 4: For personal use only To approve the grant of restricted stock units to acquire shares of Common Stock (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of Common Stock (which may be represented by CDIs) e
Slide 17: Proposal 5
Proposal 5: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 18: Proposal 6
Proposal 6: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 19: Proposal 7
Proposal 7: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$147,000 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (whic
Slide 20: Proposal 8
Proposal 8: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 21: Proposal 9
Proposal 9: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$147,000 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (whic
Slide 22: Proposal 10
Proposal 10: To approve the grant of restricted stock units to acquire shares of For personal use only common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (whic
Slide 23: Proposal 11
Proposal 11: To approve the grant of options to acquire 100,000 shares of For personal use only common stock of the Company (which may be represented by CDIs) to Mr. James Corbett, Chief Executive Officer of the Company, on the terms and conditions set out in the Proxy Statement, pursuant to and for
Slide 24: Proposal 12
Proposal 12: To approve (a) an amendment to the 2020 Omnibus Incentive Plan For personal use only (the "Plan"), the terms of which are summarized in the Proxy Statement (the "Plan Amendment); and (b) for purposes of ASX Listing Rule 7.2 Exception 13(b) and for all other purposes, the issue of equity
Slide 25: Proposal 13
Proposal 13: To approve (a) the adoption of the Company's Employee For personal use only Stock Purchase Plan (the "ESPP"), the terms of which are summarized in the Proxy Statement; and (b) for the purposes of ASX Listing Rule 7.2 Exception 13(b) and for all other purposes, the issue of equity securi
Slide 26: Proposal 14
Proposal 14: • Advisory vote to approve the compensation of the Company's For personal use only named executive officers. 27
Slide 27: Closing of Polls
For personal use only Closing of Polls The polls are about to close so if you have not yet voted, please do so. We will announce the results of the voting as soon as possible following the close of this meeting via announcements to be filed with the U.S. Securities and Exchange Commission and the Au
Slide 28: Adjournment of Meeting and General Question and Answer Period
For personal use only Adjournment of Meeting and General Question and Answer Period The formal business of the meeting is now closed. We invite you to now ask any questions you may have as it relates to the content of today’s meeting. Please follow the instructions provided on the Virtual Meeting Sc
Slide 29: Conclusion of Annual Meeting of Stockholders
For personal use only Conclusion of Annual Meeting of Stockholders
Slide 30: Thank you!
For personal use only Thank you!
Slide 31: Accelerating Our Growth Profile
For personal use only Accelerating Our Growth Profile 2023 Corporate Update June 6, 2023 NASDAQ: RCEL ASX: AVH ©Copyright 2023 AVITA Medical. All Rights Reserved.
Slide 32: Forward-Looking Statements & Legal Disclaimers
Forward-Looking Statements & Legal Disclaimers Certain statements in this presentation and the accompanying oral commentary are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained
Slide 33: Who is AVITA Medical?
Who is AVITA Medical? Regenerative medicine company transforming the standard of care for skin restoration with its innovative cellular technology platform, the RECELL® System For personal use only RECELL System includes autologous cell harvesting device that prepares, produces, and delivers regener
Slide 34: What is RECELL?
What is RECELL? RECELL enables For personal use only regeneration of healthy Treatment using RECELL skin 3. Autologous suspension sprayed onto treatment areas of patient 2. RECELL processes healthy skin and disaggregates cells to produce regenerative autologous suspension, Spray-On Skin Cells 1. Pat
Slide 35: One Platform. Multiple Indications.
One Platform. Multiple Indications. U.S. For personal use only 2022 2023 2024 2025 INDICATION projected milestones projected milestones projected milestones Outpatient Code BURNS Ease of Use Device (Approved) Japan: Approval, Reimbursement, Launch RECELL GO Device RECELL GO Device Submission*: June
Slide 36: 2023 Highlights & Milestones
2023 Highlights & Milestones as of May 11, 2023 • Commercial Revenue Growth: Strong U.S. RECELL For personal use only • First quarter 2023: 40% same quarter prior year Commercial Growth 12,000 • Field Sales Organization: • Initiated recruiting and hiring process; grew from 30 to 69 towards goal of 7
Slide 37: Soft Tissue Repair Opportunity
Soft Tissue Repair Opportunity Female, pregnant 28-year-old who suffered from a de-gloving injury Submitted PMA Supplement in December 2022 For personal use only Expect FDA approval in June 2023 POST DEBRIDEMENT OF INJURY Following approval, launching July 2023 Significant synergies between
Slide 38: Overlap of Burns and Soft Tissue Repair
Overlap of Burns and Soft Tissue Repair Meaningfully Broadens Acute Wounds Business by Soft Tissue Repair Indication For personal use only Sales Team Will Target a Total of +1,000 Centers 25,000 Targeted Burn ~110,000 Targeted Acute Wound Procedures Procedures + SOFT TISSUE ~10,000 Targeted Burn BUR
Slide 39: Synergies of Burns and Soft Tissue Repair
Synergies of Burns and Soft Tissue Repair • Soft Tissue Repair in-patient reimbursement: same DRG code as Burns; effective immediately upon FDA approval For personal use only • Soft Tissue Repair out-patient transitional pass-through code (TPTC): same code as Burns; effective immediately upon FDA ap
Slide 40: Vitiligo Opportunity
Vitiligo Opportunity Submitted PMA application in December 2022 with study results: First-in-class re-pigmentation • Primary endpoint: proportion of study sites achieving ≥80% re- transplantation of melanocytes For personal use only pigmentation for RECELL-treated sites vs Control at Week 24 Patie
Slide 41: 2023: A Year of Inflection
2023: A Year of Inflection Expecting FDA approvals for two indications: Soft Tissue U.S. Market Repair and Vitiligo For personal use only Soft Tissue Repair: anticipated launch in July 2023; ~5x Burns market expansion will fuel revenue growth Patients ~35,000 Vitiligo: ~5x patient population o
Slide 42: Financial Overview: Q1 2023
Financial Overview: Q1 2023 Unaudited Three-Months For personal use only Ended March 31 (USD in $000s) 2022 2023 Commercial Sales 7,446 10,458 BARDA Sales 93 92 Total Revenue 7,539 10,550 Gross Profit 5,761 8,883 BARDA Income 734 627 Cash, Cash Equivalents & 95,054 77,640 Marketable Securities Analy
Slide 43: Looking Ahead
Looking Ahead Financial Guidance For personal use only Commercial revenue, excluding BARDA revenue: • Q2 2023: $10.7 - $11.7 million • 2023: $49 – $51 million Future Milestones • Expected approval of PMA supplement for soft tissue repair indication in June 2023 followed by commercial launch on July
Slide 44: Summary of Expectations for RECELL
Summary of Expectations for RECELL Burns • Core Burn centers will continue to penetrate, adopt and grow For personal use only • Burns utilization will expand, accessing ~30% of market not currently called on by AVITA Medical Burns sales team • Strong healthcare economics drive in-patient adoption; T
Slide 45: Revolutionary treatment using a patient's own skin
Revolutionary For personal use only treatment using a patient’s own skin for life-changing outcomes Zed, treated with the RECELL® System NASDAQ CM: RCEL ASX: AVH © 2020 . All rights reserved. In the U.S., RECELL is approved for acute thermal burns. Use of RECELL in other indications is either (1) li
Slide 46: Important Safety Information
Important Safety Information • INDICATIONS FOR USE: The RECELL® Autologous Cell Harvesting Device is indicated for the treatment of acute thermal burn wounds. The RECELL device is used by an appropriately-licensed healthcare professional at the patient’s point of care to prepare autologous RES® Rege