Slide 1: Investor presentation
INWESTYCJA BIOFUND W MEDICALGORITHMICS Investor presentation Funkcjonalne połączenie MDG z Kardiolytics Q1 2024 Quarterly report Strategy execution 29th May 2024
Slide 2: Agenda
Agenda 01 MEDICALGORITHMICS 02 SUMMARY 2024 03 FINANCIAL RESULTS Q1 2024 04 GROWTH STRATEGY AND OUTLOOK FOR 2024 05 APPENDIX
Slide 3: About us
About us
Slide 4: Who we are and what we do?
Who we are and what we do? 01 04 We are a technology company providing We offer our products in 22 countries advanced software and AI algorithms for (including USA, Canada, EU, Southeast Asia). non-invasive cardiac diagnostics. 02 05 We are developing and commercializing We are developing a new AI-b
Slide 5: EKG – Software / Kit: Pocket EKG + VCAST
EKG – Software / Kit: Pocket EKG + VCAST AI software The Virtual Cardiac Stress Test (VCAST) is a Medicalgorithmics has developed proprietary PocketECG is a complete diagnostic patented, artificial intelligence-based AI algorithms for analyzing physiological technology for the detection of cardiac m
Slide 6: Medicalgorithmics in numbers
Medicalgorithmics in numbers 9 New ECG clients with 8k Physicians actively using 144 k ECG tests analysed by our AI MDG since new strategy our products software in 2023 in 2023 Employing Regulatory Clearances for Customers in 120+ 50+ countries 22 countries RnD engineers
Slide 7: US: market potential for arrhythmia diagnostics and coronary artery disease diagnostics
US: market potential for arrhythmia diagnostics (ECG) and coronary artery disease diagnostics (VCAST) Market opportunities for Market opportunities for arrhythmia diagnostics: cardiac imaging: 6.7M Heart failure patients 20.0M People with coronary artery disease 121.5M 6.0M Americans suffer from Peo
Slide 8: Summary 2024
Summary 2024
Slide 9: Key Events 2024
Key Events 2024 - Continued operational and organizational changes started with new strategy and shareholding changes Adoption of a New in previous years. Strategy: - Implementation of a new U.S. market strategy, including the termination of an exclusive agreements with former US distributor. - Acqu
Slide 10: Growing business on the global market
Growing business on the global market # of ECG sessions 46 779 41 224 39 373 38 567 39 247 39 117 35 374 36 215 32 885 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Constantly growing sessions in the global Increase in USA thanks to start of market (outside the US). collabo
Slide 11: Financial results Q1 2024
Financial results Q1 2024
Slide 12: Financial results
Financial results ➢ Temporary reduction in revenues due to strategic shift in the US market towards a diversified model and end of collaboration with [k PLN] Q1 2024 Q1 2023 Q4 2023 US exclusive partner at 31st December 2023. Revenue 7 017 11 290 12 537 ➢ 9 new partnerships since 2023. 3 of the alre
Slide 13: Financial results – OPEX
Financial results – OPEX ➢ Operational expenditures under control: cc [k PLN] Q1 2024 Q1 2023 Q4 2023 2% decrease from Q4 2023. Consumption of materials (1 647) (750) (3 144) One-off expense of annual bonus related to and energy ➢ Employee benefits (5 355) (4 892) (4 387) quarterly targets (~PLN 3M)
Slide 14: Strong cash position
Strong cash position ➢ Negative cash flows from operating [k PLN] Q1 2024 Q1 2023 activities related to: ➢ Sales drop due to termination of Operating cash flow (5 472) 3 033 cooperation with the main partner in the USA and only starting cooperation with new partners from this market. Investing cash
Slide 15: Global revenue diversification
➢ Temporary reduction in revenues due to end Global revenue diversification of collaboration with US exclusive partner at 31st December 2023. ➢ 3 of the already commercially launched US [k PLN] Q1 2024 Q1 2023 Q4 2023 IDTF parners will bring the company about PLN 440k in average monthly recurring Re
Slide 16: Strategy and outlook for 2024
Strategy and outlook for 2024
Slide 17: Group Strategy 2023 - 2026
Group Strategy 2023 - 2026 Business Model: Utilize a flexible approach to offer proprietary PocketECG AI software and hardware on a non-exclusive basis or as standalone products. Integrate proprietary software seamlessly with third-party devices A leading global provider for enhanced cardiac diagnos
Slide 18: Outlook for the next quarters
Outlook for the next quarters Launch commercial activities with partners acquired Completion of VCAST technology certification in the EU, so far which will increase the value of the reported starting FDA in the US. estimated average monthly revenues (PLN 440k as at 20th May 2024). Deep Rhythm Platfo
Slide 19: Summary
Summary We are successfully executing the established business model transformation and growing 01 into a global provider of innovative solutions for the healthcare sector. 02 We expect that the implementation of the strategy will positively affect the company's value and strengthen its market posit
Slide 20: Legal disclaimer
Legal disclaimer This presentation has been prepared by Medicalgorithmics ("the Company") solely for informational purposes and contains publicly available data. It presents selected data of Medicalgorithmics and should not be construed as investment advice, an offer to acquire or sell any shares or
Slide 21: Thank you for your attention!
Thank you for your attention!
Slide 22: APPENDIX: EKG
APPENDIX: EKG
Slide 23: ECG Analysis workflow
ECG Analysis workflow An appointment in a physician's office for Medicalgorithmics prescribing a 24-hour Holter or long-term ECG monitoring by a physician Patient hook-up. Start of the ECG recording Seamless and quick data Signal analysis is performed transfer to the cloud by AI-based algorithms. EC
Slide 24: DeepRhythmAI Algorithms
DeepRhythmAI Algorithms DeepRhythmAI (DRAI) is a new revolutionary technology for heart rhythm analysis. The product received FDA approval in 2022. DRAI is an algorithm that utilizes deep learning techniques to accurately and rapidly analyze electrocardiograms (ECGs) for identifying abnormal heart r
Slide 25: ECG analysis software Deep Rhythm Platform (DRP)
ECG analysis Nagłówek Deep Rhythm software Platform (DRP) PC Client / PocketECG software is a state-of-the-art solution for DRP is a new generation of the PC Client software by cardiac diagnostics utilized by monitoring centers and hospitals Medicalgorithmics, based on the DRAI technology. DRP is fr
Slide 26: USA strategy execution
USA strategy execution Increasing market penetration and seeking for profitable business with multiple distributors and richer offering. BEFORE: NOW: An exclusive agreement with one partner Collaboration with multiple partners and a (IDTF) and one product. wider product portfolio (AI) = growth & div
Slide 27: Clinical Trials - a new high margin business for Medicalgorithmics
Clinical Trials - a new high margin business for Medicalgorithmics Cardiac safety studies require near real time AF monitoring technology and reporting service GOAL-HF-01 OATD-01-C-03 Heart Failure Drug Idiopathic Pulmonary Fibrosis Randomized double - blinded, placebo - controlled Randomized double
Slide 28: APPENDIX: VCAST
APPENDIX: VCAST
Slide 29: VCAST – Autonomous CT analysis
VCAST – Autonomous CT analysis No CAD 01 Regular monitoring 01 Computed Tomography 02 DICOM data Stenosis <50% 02 Pharmacotherapy Cloud software for 03 autonomous CT analysis Stenosis >50% 03 Invasive therapy CAD – Coronary Artery Disease
Slide 30: VCAST – Autonomous CT analysis
VCAST – Autonomous CT analysis VCAST is cloud-based software with a unique technological advantage of AI algorithms for segmentation and reconstruction of narrowed vessels. It provides personalized, color-coded 3D modelling of coronary arteries along with detailed functional diagnostic information r
Slide 31: VCAST – competitive landscape
VCAST – competitive landscape VCASTTM FFRct RFR EFR Stenosis ● Non-Calcified Plaque (NCP) ● Calcified Plaque (CP) Plaque assessment Full Full ● Low-Density Non- Calcified Plaque (LD- NCP) Distance Measurements Segmentation of region Automatic Manual and Semi-Automatic Manual and Semi-Automatic of in
Slide 32: VCAST – certification roadmap
VCAST – certification roadmap 2018 … 2022 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 Biofund takes over IP from FRA VCAST dev. towards automatic AI software VCAST mergered CE / MDR certification into MDG FDA certification, timing tbc… Commercialisation: w. CE; US after FDA