Diasorin S.p.a. · MIL:DIA
Diasorin — Investor Day (December 2023)
76 slides from Diasorin's investor day presentation, Dec 15, 2023
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Slide 2: Disclaimer
Lorem ipsum dolor sit amet Disclaimer In General. This disclaimer applies to this presentation and any oral comments of any person presenting it. This document, taken together with any such oral comments, is referred to herein as the “Presentation”. This Presentation has been prepared by DiaSorin S.
Slide 3: Forward-looking statements
Forward-looking Lorem ipsum dolor statements sit amet This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which Diasorin operates and the beliefs and assumptions of the management of Diasorin. In addit
Slide 4: Agenda
Agenda 1. 2. 3. 4. 5. 6. 7. 8. 9. INVESTOR DAY STRATEGIC IMMUNODIAGNOSTICS MOLECULAR LICENSED FOCUS ON SUSTAINABILITY FINANCIALS KEY TAKEAWAY KICKOFF SETTINGS DIAGNOSTICS TECHNOLOGIES THE U.S. MESSAGES 4
Slide 5: Investor Day Kickoff
Qu Investor Day Kickoff dy =
Slide 6: Strategic Settings
2. Strategic Settings
Slide 7: Why A New Plan?
Why A New Plan? Changed macroeconomic Inflationary pressure environment Localization of manufacturing Acceleration of technological independence in China Decrease exposure to China - Increase opportunity in the U.S. Increased cost pressure on healthcare systems across Value Based Care the globe 7
Slide 8: The New Diasorin 3.0
The New Diasorin 3.0 Revenues ~ 700 €/mln Immunodiagnostics Revenues ~ 1.2 €/bn Immunodiagnostics Diasorin Diasorin in 2019 in 2023 Molecular Diagnostics Molecular Diagnostics Licensed Technologies Critical mass in the main diagnostic market: USA Immunodiagnostics Molecular Diagnostics Licensed Tech
Slide 9: Two Years Of Luminex
Two Years Of Luminex New President New leadership team in place New Senior Top Management New commercial team FDA warning letter resolved Quality first Journey to Investments for manufacturing readiness ~30 $/mln full integration almost completed Cost synergies, programs and increased profitability
Slide 10: Value Based Care Products To Solve Increased Cost Pressure On Healthcare Systems
Value Based Care Products To Solve Increased Cost Pressure On Healthcare Systems Increased cost pressure on healthcare Implementation systems of VBC products Expected ~400 €/mln in R&D investments to fuel the pipeline with new products MeMed BV® (already launched) LymeDetect® (expected submission: D
Slide 11: Market Shift In China
Market Shift In China Price pressure New Diasorin: + manufacturing The diagnostic Pressure on manufacturing localization plant in Shanghai Specialist A new local state-of-the-art manufacturing plant China Market access investment to develop: VBP Order 551 Gastro specialties LIAISON® XL + ~20 LIAISON
Slide 12: U.S. Becoming Pivotal In The Diasorin Strategy
U.S. Becoming Pivotal In The Diasorin Strategy Post Luminex Growth strategy acquisition in the U.S. Year 2019 2023 2027 ~30% of Hospital Total Accessible # hospitals ~150 ~300 ~600 Market strategy ~ 30% of Total Revenues MeMed BV Unique Estimated market* ~400 $/mln USA portfolio LymeDetect Estimated
Slide 13: Focus On Execution
Focus On Execution Full portfolio of platforms The pipeline is full The organization is in place …in the meantime, we are planning and working on the next wave (new projects, new tests and capital allocation opportunities) 13
Slide 14: Immunodiagnostics
3. Immunodiagnostics dy Diasorin
Slide 15: Diasorin Immunodiagnostic Menu Development
Diasorin Immunodiagnostic Menu Development 2023 PHASE 1 PHASE 2 PHASE 3 RIA/EIA (Diasorin) EIA/CLIA (Partnerships & acquisitions) FOCUS on new paradigm Expansion of menu through Development of new biomarkers Conversion from RIA/EIA to CLIA acquisitions and partnerships and new markets ~ 80 tests ~ 1
Slide 16: Immunodiagnostic Market, Size And Rationale For Phase 3.0
Immunodiagnostic Market, Size And Rationale For Phase 3.0 IVD market = € 60 billions (Excluding Covid)* • Whereof 23% → Immunoassay market size = 14 €/bn EU EDMA(**) data 12 months rolling, Q2’23 • Estimated growth: 2% on annual base Infectious disease Bone & mineral EU Immunoassay market segmentati
Slide 17: QIAGEN Partnership On QuantiFERON Technology
QIAGEN Partnership On QuantiFERON® Technology QIAGEN QuantiFERON® Technology and Diasorin IVD Testing expertise combined Leader in Tuberculosis infection immunodiagnostic assays (B Cells) Early Lyme disease Leader in QuantiFERON® IGRA Technology (T Cells) 17
Slide 18: Tuberculosis Infection: Market And Opportunity
Tuberculosis Infection: Market And Opportunity • Tuberculosis (TB) caused by Mycobacterium tuberculosis with 2 broad clinical forms: • Latent TB infection (LTBI) • Active TB disease Worldwide estimated LTBI market size ~ North America 20 million • LTBI can progress to active disease in Latin America
Slide 19: LIAISON LymeDetect To Address Lyme Disease
LIAISON® LymeDetect® To Address Lyme Disease: An Emergent Challenge • Lyme disease caused by the bacterium Potential annual U.S. market for Borrelia burgdorferi transmitted to Acute Phase threatening: ~120 $/mln humans by infected Ixodes ticks • Symptoms may appear within a few days and/or later (mo
Slide 20: LIAISON MeMed BV, Solving The Clinical Dilemma
LIAISON® MeMed BV®, Solving The Clinical Dilemma: Bacterial Or Viral Infection? LIAISON® MeMed BV®: empowers clinical decision-making • 4.7 mln of pediatric patients/year in the U.S. address to Emergency Department (ED) with suspect infections BEFORE BV TEST AFTER BV TEST • ED Physicians challenged
Slide 21: MeMed BV high performance independently confirmed in select studies
MeMed BV® high performance independently confirmed in select studies Thousands of patients enrolled (2013 - 2022) March 2015 April 2017 October 2017 October 2021 Curiosity study Opportunity study Pathfinder study Autopilot study 21
Slide 22: MeMed BV high performance independently confirmed in select studies
MeMed BV® high performance independently confirmed in select studies Multiple new evaluations, and real-world evidence on thousands of patients show positive results - published by customers and collaborators in 2023 January February 2023 March May May June June November 2023 German RWE 2023 2023 20
Slide 23: Focus On U.S. MeMed Reimbursement And Market Creation
Focus On U.S. MeMed Reimbursement And Market Creation Oct 2022 Obtained PLA Code MeMed & hospital strategy (AMA) • Expanded presence to 5 regions: additional 15 sales reps + 6 scientific professionals Obtained CLFS Jan 2023 Payment (260$) • Offering a complete solution for LIAISON® XL/XS on Hub cent
Slide 24: Differential Diagnosis IBD With Novel Biomarkers And Machine Learning Tools
Differential Diagnosis IBD With Novel Biomarkers And Machine Learning Tools • IBD(*) diagnosis: requires the Calprotectin: growing at double-digit differentiation from IBS(**) and a rate in many geographies (e.g. China conclusive diagnosis is often reached & U.S) by colonoscopy (invasive and costly
Slide 25: Impact On Patient Pathway With Calprotectin 3.0
Impact On Patient Pathway With Calprotectin 3.0 Current flow Undesired effects Patients presenting Positive (33%) • Unnecessary colonoscopies on healthy subjects (~8% of tested subjects) with chronic abdominal pain • Delayed diagnosis to sick individuals Negative (49%) (~2% of tested subjects) (~30%
Slide 26: LIAISON XXL: The Next Step Forward In The Instrumentation Journey
LIAISON® XXL: The Next Step Forward In The Instrumentation Journey Faster systems to increase productivity Large labs and hospital consolidation + > 7,000 Installed Base Continuous Diasorin portfolio expansion > 1,000 Connectivities New LIAISON® XXL platform LIAISON® XL LIAISON® XXL • Higher Product
Slide 27: Molecular Diagnostics
4. Molecular Diagnostics | ©) Diasorin
Slide 28: A Series Of Interlinked Trends Have Created Strategic Focus Areas
A Series Of Interlinked Trends Have Created Strategic Focus Areas For Our Organization RESPONSE: expansion of “care at home”, Patient is a driven by Point of Care, increased consumer digitization of health and personalized medicine using multiomics RESPONSE: equip healthcare providers to RESPONSE: d
Slide 29: Molecular Diagnostic Technologies And Market
Molecular Diagnostic Technologies And Market Global '23 Mkt size1 >10 plex MULTIPLEX SYNDROMIC ON-DEMAND LAB TESTING MULTIPLEX SYNDROMIC BATCH LAB TESTING 2.9 $/bn # of targets analyzed per run 10 plex 2023-2027 Global Molecular Diagnostic ID market 18 $/bn - 22.4 $/bn 4.7 $/bn - 5.9 $/bn ex-Covid T
Slide 30: Molecular Diagnostic Technologies And Clinical Areas
Molecular Diagnostic Technologies And Clinical Areas Gastrointestinal – Drivers for technology 10 plex >10 plex choice: ~400 $/mln (3.7%1) # of targets analyzed per run Blood Culture Patient profile ~100 $/mln (15%1) • Pediatrics CNS • Immunocompromised • Otherwise healthy Respiratory ~50 $/mln ex-C
Slide 31: Four Quadrants Of Molecular Diagnostics: Diasorin Presence
Four Quadrants Of Molecular Diagnostics: Diasorin Presence MULTIPLEX SYNDROMIC ON-DEMAND LAB TESTING MULTIPLEX SYNDROMIC >10 plex BATCH TESTING Diasorin well positioned in the context of Market 10 plex trends as provider of the technologies needed in Molecular Diagnostics VERIGENE® LIAISON® PLEX NxT
Slide 32: Full Spectrum Solution
Full Spectrum Solution POINT-OF-CARE SINGLE-LOW PLEX MULTIPLEX Transversal expansion Transversal expansion in point-of-care Menu expansion in syndromic OUT OF SCOPE Expected submissions Expected submissions Submissions completed • LIAISON® PLEX platform + Respiratory panel: Q4’23 • LIAISON® NES plat
Slide 33: Focus On Targeted Quadrant
Focus On Targeted Quadrant Infectious disease specialties Clinical areas served Target customers SMALL COMMUNITY RESPIRATORY HOSPITALS INFECTIONS KITS ARIES® LIAISON® MDX LIAISON® MDX+ WOMEN’S CNS MEDIUM HEALTH (MENINGITIS) HOSPITALS AND NEONATAL ASRS HOSPITAL ACQUIRED INFECTIONS COMMERCIAL LABS 33
Slide 34: Focus On Point-Of-Care (Near Patient Solution)
Focus On Point-Of-Care (Near Patient Solution) Technical features Clinical areas served Target customers • One of the fastest CLIA-WAIVED tests to detect and differentiate FluA, FluB, RSV and Covid-19 on non invasive nasal swabs First wave • Performance on par with the laboratory offerings • Immedia
Slide 35: Focus On Multiplex
Focus On Multiplex Clinical areas served Target customers RESPIRATORY GASTRO- COMMUNITY & REGIONAL VERIGENE® LIAISON® PLEX NxTAG LUMINEX® 200 INFECTIONS INTESTINAL HOSPITALS MAGPIX® BLOODSTREAM Multiplex legacy Flexible solutions for every size of laboratory INFECTIONS CNS (MENINGITIS) ACADEMIC MEDI
Slide 36: Focus On LIAISON PLEX
Focus On LIAISON® PLEX Designed for diagnostic stewardship, PLEX is easy to use, providing trusted answers to effectively treat patients, without the high price tag of traditional all-in-one tests Estimated total addressable market1 in 2027: ~4 $/bn Future menu RSP Flex BCP LIAISON® PLEX BCN BCY GI
Slide 37: Market Trends Create Focused Strategies For Both Businesses
Market Trends Create Focused Strategies For Both Businesses RESPONSE: expansion of “care at RESPONSE: demand for home,” driven by Point of digitization, simpler Care, increased digitization of health workflows, data analysis, and personalized medicine using automation and ease of use Importance to M
Slide 38: Licensed Technologies
D. Licensed Technologies | ©) Diasorin
Slide 39: We enable Innovation
Licensed Technologies We enable Innovation 39
Slide 40: Licensed Technologies: The LTG Business Model
Licensed Technologies: The LTG Business Model + + = Instruments Consumables Royalties Revenue 40
Slide 41: xMAP Intelliflex – Innovating The World's Most Used Multiplexing Technology
INSTRUMENTS xMAP® Intelliflex – Innovating The World’s Most Used Multiplexing Technology + + = The next dimension in Multiplexing • Trusted xMAP® technology, with an innovative twist No other multiplex platform combines • Adding a second reporter channel allows researchers to low- and high-plex capa
Slide 42: Licensed Technologies: Quality Assay Performance That Is Dependable
CONSUMABLES Licensed Technologies: Quality Assay Performance That Is Dependable + + = Expertise Hundreds of targets Versatility & reproducibility per test 3-dimensional read Bead set 21 Bead set 26 5.6 Microns The bead is impegnated with the dye mixture Since its 10 Unique Orange-Red establishment,
Slide 43: Comparative Publications – Market Penetration
CONSUMABLES Comparative Publications – Market Penetration + + = xMAP® is the multiplex proteomic technology of choice by researchers across the globe Mid-Plex proteomic platform of choice Bead-Based platform of choice (Based on PubMed search) (Based on PubMed search) Number of publications Number of
Slide 44: We Enable Innovation Through Technology
ROYALTIES We Enable Innovation Through Technology + + = Royalties When Luminex sells to partners, they take our beads to make a kit to sell to either biopharma companies or academia, along with our instruments Partners End User Luminex sells beads (eggs) and instruments When Luminex sells direct to
Slide 45: Licensed Technologies: Markets Served
Licensed Technologies: Markets Served Diagnostics Life Science Biopharma Diagnostic kits Academic research Biopharma discovery Transplant Autoimmune Biopharma development Applied research Oncology including CROs Infectious disease Biopharma bioprocess Testing services LSR is the foundational market
Slide 46: Licensed Technologies: Partner Lifecycle
Licensed Technologies: Partner Lifecycle Phases Scouting/Ideation Development Commercialization/Deployment Maturity Activity Scouting & Kit developing R&D activity Kit is registered (FDA/NMPA) or LDT offered Kit is registered and LDT product ideation Limited/ on-demand sales of systems, Increasing &
Slide 47: Licensed Technologies: Partner Lifecycle
Licensed Technologies: Partner Lifecycle Phases Scouting/Ideation Development Commercialization/Deployment Maturity Activity Scouting & Kit developing R&D activity Kit is registered (FDA/NMPA) or LDT offered Kit is registered and LDT product ideation Limited/ on-demand sales of systems, Increasing &
Slide 48: Multiomics - The Next Frontier In Medicine
Multiomics - The Next Frontier In Medicine Genomics Proteomics Study the complete set of Explore the entire genes in an organism for a complement of proteins in a holistic perspective. biological system, uncovering valuable insights into their functions and interactions. Metabolomics Transcriptomics
Slide 49: Licensed Technologies: Opportunities In Multiomics
Licensed Technologies: Opportunities In Multiomics Multi Cancer early detection • Improving treatment success • Reducing treatment costs • Enhancing quality of life Partnership with Bio-Techne to drive impact • Ground-breaking partnership between Bio-Techne and Luminex brings together the world’s le
Slide 50: Licensed Technologies: Markets Served
Licensed Technologies: Markets Served Diagnostics Life Science Biopharma Diagnostic kits Academic research Biopharma discovery Transplant antibody Transplant typing Protein analysis Cancer research Drug discovery Biomarker screening Autoimmune Immunoassays Drug discovery Vaccine discovery Cancer scr
Slide 51: Focus On The U.S.
6. Focus On The U.S.
Slide 52: Our Positioning And Commercial Sales Force In The U.S.
Our Positioning And Commercial Sales Force In The U.S. Before Luminex Post Luminex Positioning in the market COMMERCIAL LABS HOSPITALS COMMERCIAL LABS HOSPITALS Immunodiagnostics team engaged in a hospital strategy Critical mass = ~350 Commercial Resources Organization with dedicated teams focused o
Slide 53: Immunodiagnostic Hospital Strategy – Phase 1
Immunodiagnostic Hospital Strategy – Phase 1 Goals achieved and Specialty testing menu to Strategic initiative next challenges meet the needs of hospitals • Identified limitations to our Goals Defined for Success: Strategic Assays: existing strategy • 150 new Hospitals • QuantiFERON® Latent • New Co
Slide 54: Immunodiagnostic Hospital Strategy – Phase 1
Immunodiagnostic Hospital Strategy – Phase 1 Phase 1 National Commercial Regional Critical Access Core Labs Labs Hospital Hospital Hospital Focus 54
Slide 55: Immunodiagnostic Hospital Strategy – Phase 2
Immunodiagnostic Hospital Strategy – Phase 2 Phase 2 National Commercial Regional Critical Access Core Labs Labs Hospital Hospital Hospital Focus 55
Slide 56: LIAISON MeMed BV Acceleration: Getting Outside The Lab
LIAISON® MeMed® BV Acceleration: Getting Outside The Lab To Stimulate And Drive Clinical Adoption LIAISON MeMed® BV Market response Next steps acceleration program • Introduce clinical need and the • Genuine interest with higher • Focus and adjust value ability to assess bacterial or viral than indu
Slide 57: Launch Plan Of The New Molecular Platforms
Launch Plan Of The New Molecular Platforms Launch plan LIAISON® PLEX LIAISON® NES • Existing VERIGENE® customers/non-automated platforms • Near patient testing Target customers • New customers • CLIA waived solution • Target competition 57
Slide 58: Sustainability
7. Sustainability dS Diasorin
Slide 59: Sustainability In Diasorin
Sustainability In Diasorin • Every second, several lives in the world are impacted by one of our tests • It is in the very nature of our business to be committed to well-being. Indeed, operating in the field of diagnostics means letting health, quality of life and the scientific approach guide every
Slide 60: Diasorin's Commitment To Sustainable Development Goals
Diasorin’s Commitment To Sustainable Development Goals SDG 16: Peace, Justice and Strong Institutions SDG 17: Partnership to achieve Goals SDG 13: Climate Action SDG 3: Good Health and Wellbeing SDG 12: Responsible Consumption SDG 4: Quality Education and Production SDG 10: Reduced Inequalities SDG
Slide 61: Promoting Value Education
Promoting Value Education Mad for Science The Mad for Science project, conceived in 2016 by Diasorin and central to the work of the Diasorin Foundation since 2020, is an italian competition aimed at concretely promoting active and experimental science education. Set up of the project Participating s
Slide 62: Social Sustainability In Diasorin
Social Sustainability In Diasorin Disability in sport Supporting children during hospitalization Diasorin Cup Sitting Volley Project Pinocchio Diasorin Cup is the largest Italian event in sitting volleyball, a To reduce anxiety of young hospital inpatients who need to go Paralympic sport based on vo
Slide 63: Our ESG & Sustainability Targets
Our ESG & Sustainability Targets SDGs • Improve the Group’s energy efficiency • Increase the use of energy from certified renewable sources E • Strengthen the Group’s Occupational H&S and Environmental Management Systems through ISO 45001 and ISO 14001 certifications • Formalize the principles of me
Slide 64: 100% Renewable energy in all our industrial sites by 2027
Setting Of A Scope 2 Reduction Target 100% Renewable energy in all our industrial sites by 2027 Accounting for 92% of our Scope 2 emissions* * indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling. 64
Slide 65: Our Tangible Commitment To An Equitable, Healthy And Sustainable Future
Our Tangible Commitment To An Equitable, Healthy And Sustainable Future Diasorin’s 2023-2025 ESG Plan is aimed at coordinating and aligning the Group towards shared objectives to improve its social and environmental impact, and to formally commit to the principles of transparency and integrity The G
Slide 66: Financials
8. Financials
Slide 67: Guidance @CER: Total Sales
Lorem ipsum Guidance @CER dolor 23*:sitTotal amet Sales High Single Digit to Covid Low Double Digit increase Base Business (CAGR) Ex Covid: +5% / +7% Covid: ~30 €/mln 2023 Estimate 2024 2027 *In order to allow comparability across years, all financials data have been restated at constant exchange ra
Slide 68: Sales By Technology
LoremBy Sales ipsum Technology dolor sit amet High Single Digit to Low Double Digit Increase (CAGR) Licensed Technologies Molecular Diagnostics Ex Covid: +5% / +7% Immunodiagnostics Covid: ~30 €/mln 2023 Estimate 2024 2027 68
Slide 69: Sales By Geography
LoremBy Sales ipsum Geography dolor sit amet High Single Digit to Low Double Digit Increase (CAGR) Rest of the World Ex Covid: +5% / +7% Europe Covid: ~30 €/mln North America 22 G G 2023 Estimate 2024 2027 69
Slide 70: Total Sales: from 2019 to 2027
Lorem Total Sales: ipsum from dolor 2019sittoamet 2027 BY TECHNOLOGY 10% 15% Molecular Diagnostics Licensed Technologies 2019 Immunodiagnostics 2027 20% Molecular Diagnostics Immunodiagnostics 65% 90% BY GEOGRAPHY 15% 30% 25% Rest of the World Rest of the World 2019 Europe 2027 Europe 55% 30% North
Slide 71: Guidance @CER: Adjusted EBITDA Margin
Lorem ipsum Guidance @CER dolor 23*:sit Adjusted** amet EBITDA Margin 32% / 33% 36% / 37% 2024 2027 * In order to allow comparability across years, all financials data have been restated at constant exchange rate (with regards to the U.S. Dollar 1.10 USD per EUR) ** Without non-recurring Luminex acq
Slide 72: Net Financial Position / Adjusted EBITDA @CER
Lorem Net Financial ipsumPosition dolor sit / Adjusted* amet EBITDA @CER 23** 900 2.1X Ratio 2.2 Net Financial Position 800 Adj. EBITDA 2.0 1.8 700 1.6 600 1.4 500 1.1 1.2 400 1.0 300 0.8 0,5 0.6 200 0.4 100 0.2 -0.1X 0 0.0 -100 2023 2024 2025 2026 2027 -0.2 Last Best Estimate *Without non-recurring
Slide 73: Key Takeaway Messages
Lorem ipsum dolor sit amet 9. Key Takeaway Messages
Slide 74: Key Takeaway Messages
Key Takeaway Messages We are in a much better shape now than before Luminex acquisition and the pandemic: stronger technological and 1 geographical positioning and enhanced growth opportunities 2 Luminex integration has been completed 3 Launching 3 new platforms and 10 new products 4 3 legs: resilia
Slide 75: Q&A Session
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