Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — FY2023 Earnings Presentation
20 slides from Imricor Medical Systems's earnings presentation, Mar 5, 2024
Slide 1: FY2023 Full Year Results
For personal use only FY2023 Full Year Results 5 March 2024 (4 March 2024 US) IMRICOR MEDICAL SYSTEMS, INC (ASX:IMR) WWW.IMRICOR.COM
Slide 2: Key achievements in FY23
For personal use only Key achievements in FY23
Slide 3: Mission: Establish a new standard of care
Mission: Establish a new standard of care For personal use only Products developed for MRI-guided cardiac ablation Imricor Products Partner Products 1. Advantage-MR Recorder/Stimulator 1. MRI Systems (Siemens, Philips, GE) 2. NorthStar 3D Mapping System1 2. Ablation Generator (Osypka) 3. Vision-MR A
Slide 4: Wide Geographical Spread
Wide Geographical Spread Imricor are approved for sale in over 30 countries, with 7 countries containing customer sites today For personal use only • Imricor’s products are currently approvedApproved in 31forcountries, Sale with a further 7 Approved countries with for Sale and Approvalactivated in P
Slide 5: Operational Highlights
Operational Highlights • Clinical trial milestones achieved: • VISABL-AFL Trial for FDA approval of devices is ready to start at John Hopkins Hospital, with For personal use only patient recruitment underway. • Additional site approvals in process (CHUV in Lausanne, Amsterdam UMC, ICPS in Paris) • V
Slide 6: Imricor and Adis
Imricor and Adis (see video at https://www.adis-sa.com/product-arts) For personal use only iCMR Adis ARTSim Imricor Vision-MR Ablation Catheter 2023 Full Year Results Briefing | 6
Slide 7: NorthStar 3D mapping system – the central hub of an iCMR lab
NorthStar 3D mapping system – the central hub of an iCMR lab For personal use only NorthStar brings all iCMR technology together in one place • It controls the MRI • It receives MR images in real time • It displays everything in 3D • It tracks Imricor catheters • It facilitates electroanatomical map
Slide 8: Financial Performance
For personal use only Financial Performance
Slide 9: Profit and loss
Profit and loss US$’000 FY23 FY22 Commentary Revenue 616 816 • Costs and non-R&D expenses decreased 6% primarily due For personal use only to continued decreases in inventory reserves ($449), Costs and non-R&D expenses (9,145) (9,724) staffing costs ($195) and D&O insurance premiums ($151), partiall
Slide 10: Balance sheet
Balance sheet US$’000 Dec-23 Dec-22 Cash and cash equivalents 832 5,688 Accounts receivable 393 126 1,681 2,277 Commentary Inventory For personal use only Other current assets 1,034 1,593 • Accounts payable increase driven by 3rd party equipment Total current assets 3,940 9,684 inventory and regulat
Slide 11: Cashflow
Cashflow US$’000 FY23 FY22 Commentary For personal use only Net loss (22,626) (17,356) • Other non-cash adjustments were up vs. prior comparative Other non-cash adjustments 7,746 1,824 period primarily due to an increase in the change in fair value charges. Change in other assets and liabilities 1,9
Slide 12: Business Update and Outlook
For personal use only Business Update and Outlook
Slide 13: Company timeline
Company timeline 2006 • Imricor is established 2019 • Listed on ASX (ASX: IMR) For personal use only 2007 • Licensed IP from 2020 • Received CE mark approval for Vision-MR Ablation Catheter Johns Hopkins & Vision-MR Dispersive Electrode University 2015 • Signed joint research agreement with Siemens
Slide 14: Company timeline
Company timeline 2022 • Signed distributor in Saudi Arabia • Joint venture to bring AI into NorthStar COMPLETE 2023 • Approval to start clinical trial for FDA in For personal use only US • Australia & New Zealand launch • Additional Middle East • Approval to start Ventricular Tachycardia country lau
Slide 15: Looking forward
Looking forward Imricor’s mission is to establish a new standard of care for cardiac ablations with real- time iCMR guidance. Cardiac ablation is a US$8 billion1 worldwide market For personal use only Primary Drivers of Value • Develop European Market by activating new sites and increasing utilisati
Slide 16: Three areas of focus
Three areas of focus For personal use only 1 2 3 FDA Approval Expand Treatments Commercialisation VISABL-AFL Trial VISABL-VT Trial • Opens largest market in • Demonstrates complex • Activate sites in EU the world ablation in MRI • Grow EU installed base • Streamlined regulatory • Signals to market •
Slide 17: Pioneer Capital Fund
Pioneer Capital Fund Imricor received a Letter of Intent to Invest from North Dakota’s Pioneer Capital Fund. For personal use only Investment is related to an overall strategy to expand Imricor’s manufacturing operations into North Dakota. Letter of Intent to Invest • US$8 million • Target price of
Slide 18: Contact Information
Contact Information For personal use only Investors & Australian Media: Simon Hinsley NWR Communications simon@nwrcommunications.com.au +61 401 809 653 Investors: Steve Wedan Executive Chair, President & CEO Email: steve.wedan@imricor.com Rest of World Media: Nick Twohy Vice President, Marketing and
Slide 19: Appendix
For personal use only Appendix FOLLOW US
Slide 20: Imricor Leadership
Imricor Leadership Management Board of Directors For personal use only Steve Wedan Jonathon Gut Gregg Stenzel Jennifer Weisz Nick Twohy Steve Wedan Mark Tibbles President and Chief Vice President of Chief Operating Vice President of Vice President of President and Chief Deputy Chair and Lead Executi
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