Elron Ventures Ltd · TASE:ELRN
Elron Ventures — Elron Electronic Industries — Investor Presentation (November 2015)
39 slides from Elron Ventures's investor presentation, Nov 12, 2015
Slide 1: Elron - Investor Presentation, November 2015
DISCOVER. INNOVATION ELRON - INVESTOR PRESENTATION November 2015
Slide 2: Disclaimer
This presentation is for information purposes only. By this presentation, Elron does not intend to solicit offers to purchase its securities and the presentation does not constitute an invitation to receive such offers. Elron may make improvements and/or changes in the features or content presented
Slide 3: Burden of valvular heart disease
Source: Nkomo VT, et al. Burden of valvular heart diseases: a population-based study. Lancet 2006;368: 1005 - 1011.
Slide 4: Recent Developments
RECENT DEVELOPMENTS FIRST INVESTMENT IN IronScales + Anadditional RDSeed investment, its first in cyber + Addresses one of the most common and sophisticated cyber attacks against corporations, by protecting employees from spear-phishing attempts + Asa.smillion investment, fora 30% holding REIMBURSEM
Slide 5: Discover. Elron
DISCOVER. ELRON
Slide 6: Operational holding company in the VC space
OPERATIONAL HOLDING COMPANY IN THE VC SPACE WE SPECIALIZE IN MEDICAL DEVICETECHNOLOGIES WITH SIGNIFICANT EXIT POTENTIAL + WE HAVE 50 YEARS EXPERIENCE IDENTIFYING OPPORTUNITIES, BUILDING TECHNOLOGY LEADERS, AND EXITING HOLDINGS + WE INVEST PRIMARILY IN EARLY STAGE COMPANIES + WE RELY ONA PROVEN STRAT
Slide 7: Performance in 2015
PERFORMANCE IN 2015: * Including RDC
Slide 8: Holdings and market value
Sep. 30, 2015 ($m) ($m) Associates and consolidated companies: Pocared (55%) 14.5 49.0 BrainsGate (30%) 0.8 24.5 PLYmedia (25%) - 2.5 Others 4.1 22.4 Companies presented at fair value: Notal Vision (21%) 14.4 9.0 Others 4.4 18.6 Total Holdings 38.2 126.0 Fair value of contingent consideration from s
Slide 9: Discover. BrainsGate
DISCOVER. BRAINSGATE
Slide 10: Our investment: $25M, our holding: 30%
OUR INVESTMENT: $25M OUR HOLDING: 30%
Slide 11: Stroke burden
Sources: American Heart Association: Heart Disease and Stroke Statistics Report - 2015; BrainsGate website: http://brainsgate.com/eng/page.php?id=3&instance_id=9.
Slide 12: Stroke disability and lifetime cost
Sources: American Heart Association: Heart Disease and Stroke Statistics Report - 2010, 2015; CDC website: http://www.cdc.gov/stroke/facts.htm. mRS Average Lifetime Cost Per Stroke Patient Sources: Samsa et al, Performing Cost-Effectiveness Analysis by Integrating Randomized Trial Data with a Compre
Slide 13: Limited thrombolysis treatment rates
Source: American Heart Association: Temporal Trends in Patient Characteristics and Treatment With Intravenous Thrombolysis Among Acute Ischemic Stroke Patients at Get With the Guidelines-Stroke Hospitals, Schwamm, Circ Cardiovasc Qual Outcomes. 2013;6:543-549.
Slide 14: Limits of current stroke treatment
Sources: Adams HP, et al (2003) Stroke 34 , 1056-83; del Zoppo GJ, et al (2009) Stroke 40 , 2945-48.
Slide 15: Endovascular therapy trial results
Sources: Broderick JP, et al (2013) New England Journal of Medicine 368 (10), 893-903; Ciccone A, et al (2013) New England Journal of Medicine 368 (10), 904-13; Kidwell CS, et al (2013) New England Journal of Medicine 368 (10), 914-23; Berkhemer OA, et al (2015) New England Journal of Medicine 372 (
Slide 16: BrainsGate: therapy expanding treatment window to 24 hours
BRAINSGATE: ALTERNATE THERAPY THAT EXPANDS THE TREATMENT WINDOW TO 24 HOURS ELECTRODE: 24-HOUR TREATMENT WINDOW + Electrical stimulation of the SPG (a nerve center behind the nasal cavity) using a miniature electrode + The electrode’s activation induces dilation of cerebral blood vessels, and augmen
Slide 17: BrainsGate ISS system
BrainsGate’s ISS is an investigational device, not approved for marketing. GuideView SPG (sphenopalatine ganglion) = supplies parasympathetic innervation to the anterior cerebral circulation and some of the posterior circulation Transmitter = emits RF waves which energize the implant Implant = deliv
Slide 18: Pivotal trial design
Primary outcome Distribution of patients across mRS, according to sliding dichotomous analysis,* at 90 days Study design Multicenter, randomized, double blind, sham control Estimated enrollment 800-1000 (to date ~580 patients have been enrolled) Inclusion criteria Aged 40-85, acute ischemic stroke i
Slide 19: Discover. Pocared
DISCOVER. POCARED
Slide 20: Our investment: $49M, our holding: 55%
OUR INVESTMENT: $49M OUR HOLDING: 55%
Slide 21: Slow, costly microbiology testing
Over-/mis-prescribing antibiotics while awaiting lab results (promotes antibiotic resistance) Costly lab tests Since the 19 th century, microbiology testing has been done by culturing bacteria in petri dishes Expensive: Requires reagents and skilled lab technicians Manual: Prone to human error, limi
Slide 22: Antibiotic resistance timeline
1940 1959 1968 1962 1979 1988 1998 1987 1996 2001 2004 2011 Resistance identified Antibiotic introduced Sources: CDC, Antibiotic Resistance Threats in the United States, 2013; “FDA’s Take on the Executive Order and National Strategy to Combat Antibiotic-Resistant Bacteria”, posted on September 18, 2
Slide 23: Microbiology lab: last to automate
THE MICROBIOLOGY LAB: THE LAST LAB TO IMPLEMENT FULL AUTOMATION e FEWER SKILLED WORKERS @ HIGHER THROUGHPUT, © GREATER EFFICIENCY HHT ° The average age of the lab workforce in the Testing volumes are increasing 10-15% per Economic pressures drive the need to USS. is about 50, and increasing year, du
Slide 24: P-1000 Analyzer
The P-1000 Analyzer is investigational in the U.S., and CE-marked in the EU. The Sample Processor is exempt from regulatory approvals.
Slide 25: P-1000 clinical study
Primary outcome Agreement of the P-1000 quantification and identification method compared with the standard method (agreement = >90% sensitivity & specificity for each pathogen) * Estimated collection 19,500 samples (to date ~13,000 samples have been collected) Pathogens E. Coli, Chlamydia, Klebsiel
Slide 26: Next applications for Pocared's P-1000
THE NEXT APPLICATIONS FOR POCARED'S P-1000: Don (MRSA/MSSA) 1 STATUS: clinical validation, ready for regulatory studies THROAT SWABS (streptococci) 4am tests in the U.S. annually 8m tests in the U.S, annually STATUS: clinical feasibility 3 BLOOD CULTURES | ANTIBIOTIC RESISTANCE (sepsis) (rapid AST)
Slide 27: Discover. Notal Vision
DISCOVER. NOTAL VISION
Slide 28: Our investment: $9M, our holding: 21%
OUR INVESTMENT: $9M OUR HOLDING: 21%
Slide 29: AMD destroys central vision
AMD destroys sharp, central vision, necessary for common tasks such as facial recognition, driving, reading, & watching television Sources: Brown DM, et al (2006). New England Journal of Medicine 355 , 1432-44; Slakter JS & Stur M (2005). S urvey of Ophthalmology 50 , 263-73; Gehrs KM, et al (2006).
Slide 30: Unpredictable onset of wet AMD
It is not possible to predict who will develop wet AMD, and if so, when Dry AMD patients are monitored once or twice a year, in routine check-ups at the eye doctor Wet AMD can be treated , but due to late diagnosis, 64% of eyes end with dysfunctional vision even after treatment Sources: Wittenborn J
Slide 31: ForeseeHome: saving the patient's vision
FORESEEHOME: SAVING THE PATIENT'S VISION BEFORE IT’S TOO LATE MORETHAN 3,000,000 TESTSTO DATE BEBESsSS FDA CLEARED CE MARKED CLINICALLY PROVEN 2CPT CODES ADOPTED IN THE AAOS's CLINICAL GUIDELINES PROVEN PREVENTION OF VISION Loss AREDSz2: Notal Vision conducted a trial in collaboration with the NIH o
Slide 32: Notal Vision received reimbursement coverage approval
NOTAL VISION RECEIVED REIMBURSEMENT COVERAGE APPROVAL FROM A REGIONAL MEDICARE CARRIER; PAYMENT DETERMINATION IS EXPECTED TO BE MADE IN THE NEAR FUTURE
Slide 33: Discover. Coramaze
DISCOVER. CORAMAZE
Slide 34: Our investment: €1.75M, our holding: 28%
OUR INVESTMENT: €1.75M OUR HOLDING: 28%* * 28% after the funding round will be completed; currently 17%.
Slide 35: Mitral valve disease burden
Sources: Nkomo VT, et al. Burden of valvular heart diseases: a population-based study. Lancet 2006;368: 1005 - 1011; coramaze website: http://www.coramaze.com.
Slide 36: Coramaze system features
REPOSITIONABLE, DOESN’T INJURE ADJACENT TISSUE PRESERVES NATURAL LEAFLETS, RESTORES THEIR FUNCTIONALITY A SAFE, SIMPLE, AND QUICK IMPLANTATION METHOD ATRAUMATIC ANCHORING IN THE LEFT ATRIUM SPACER THAT ENHANCES LEAFLET COAPTATION PERCUTANEOUS TRANSFEMORAL IMPLANTATION ê ê ê Coramaze’s system is an i
Slide 37: Mitral valve acquisitions
ACQUIRER TARGET DEAL SIZE DEVICE STAGE Edwards Lifesciences CardiAQ Valve Technologies up to $400m ($350m upfront + milestone) mitral valve replacement clinical development Abbott Tendyne up to $250m ($225m upfront + milestone) mitral valve replacement clinical development Abbott Cephea Valve Techno
Slide 38: Summary
SUMMARY: 1 WE HAVE PROVEN EXPERTISE IN IDENTIFYING OPPORTUNITIES, BUILDING TECHNOLOGY LEADERS, AND EXITING HOLDINGS WE ANTICIPATE SIGNIFICANT DEVELOPENTS IN OUR MATURE COMPANIES THIS YEAR i] 3 OUR CURRENT MARKET VALUE IS $141M, AND OUR LIQUID RESOURCES BALANCE IS $122M
Slide 39: Elron. Opportunity - Thank you
ELRON. OPPORTUNITY Thank you.
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