Slide 1: Delivering the Power of Sight
Delivering the Power of Sight Investor Presentation September 2021 ™
Slide 2: Forward Looking Statements
1 Forward Looking Statements This presentation, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
Slide 3: Our Mission
2 Transform Ophthalmology and Optometry through products that target the underlying causes of the world’s most prevalent eye diseases Establish new treatment paradigms and create an interventional mindset in Eyecare to replace conventional outdated approaches Our Mission
Slide 4: Our World Class Team
Our World Class Team 3 Paul Badawi Chief Executive Officer and Co-Founder Dr. David Badawi, MD Chief Technology Officer and Co-Founder Jesse Selnick Chief Financial Officer Shawn O’Neil Chief Commercial Officer Sam Park Chief Operating Officer Jeremy Hayden Chief Legal Officer Dr. Reay Brown, MD Chi
Slide 5: Our Product Development Process
4 Four fundamental requirements to deliver consistent, effective and safe outcomes for patients Our Product Development Process Comprehensive Understanding of Disease Physiology Analyze available clinical data, science and literature to achieve sound understanding of disease Address the Underlying C
Slide 6: Developing and Commercializing Products That Disrupt Two Major Eyecare Categories
5 Developing and Commercializing Products That We Believe Will Disrupt Two Major Eyecare Categories Large, unmet market need Differentiated, innovative, intuitive design Robust clinical data Maximized patient access Comprehensive IP protection Demonstrated growth & strong financial profile
Slide 7: Products Designed to be Category-Defining
Micro-invasive Glaucoma Surgery (MIGS) in POAG Launched in February 2018 Wearable eyelid technology to deliver targeted heat to meibomian glands (in development for dry eye disease3) Controlled release in April 2019 U.S. TAM1 of 2020 Revenue $6Bn 94% 66 Global Patents and Patent Applications2 (47 is
Slide 8: Strategic Value Creation Initiatives
7 Strategic Value Creation Initiatives Expand Presence in Established Combination Cataract MIGS Segment in POAG Continue gaining adoption among existing base of >3,000 MIGS-trained surgeons Continue taking share by leveraging the ability of OMNI® to address all three points of potential resistance i
Slide 9: Primary Open-Angle Glaucoma
Primary Open-Angle Glaucoma ™
Slide 10: Primary Open-Angle Glaucoma: A Large, Growing Market
Glaucoma is world’s leading cause of irreversible blindness POAG is the most prevalent form of glaucoma No cure and progressive Steadily growing patient base Improving diagnostics Aging populations Demographic shifts Growth of comorbidities such as diabetes, heart disease and high blood pressure In
Slide 11: Current Global POAG Treatment Market
9 Current Global POAG Treatment Market Rx medications currently have the supermajority of treatment share (estimated >80%) Conventional surgery has been a last line therapy MIGS are transforming POAG treatment, but still well underpenetrated (estimated <10%) Fastest growing treatment segment (25%-37
Slide 12: U.S. MIGS Total Addressable Market
10 U.S. MIGS Total Addressable Market 4.2 million people U.S. population with POAG and PEX (pseudoexfoliation glaucoma) 3.5 million people U.S. population diagnosed with POAG and PEX 3.4 million people U.S. population diagnosed with POAG 6.2 million eyes with POAG in the U.S. ~$6 billion U.S. TAM fo
Slide 13: POAG Treatment Paradigm
11 POAG Treatment Paradigm PRESCRIPTION MEDICATIONS OMNI® is designed to expand MIGS reach and impact and enable a new interventional treatment paradigm STANDALONE (85%1 of POAG) COMBINATION CATARACT (15%1 of POAG) CONVENTIONAL TREATMENTS TRABECULAR BYPASS STENTS LASER TRABECULOPLASTY CONVENTIONAL S
Slide 14: Standalone: Extending MIGS to All POAG
Combination Cataract (<15% of POAG eyes) Concurrent MIGS and cataract procedure Benefits from inherent IOP-lowering effect of cataract surgery First-mover trabecular bypass stents are only authorized for use in Combination Cataract cases Has skewed MIGS towards this segment Standalone (>85% of POAG
Slide 15: OMNI Addresses the 3 Primary Points of Resistance
13 We believe (i) there is NO diagnostic to determine where the resistance is in the conventional outflow pathway and (ii) OMNI® is singularly well-suited to address all 3 primary points of resistance OMNI® Addresses the 3 Primary Points of Resistance TRABECULAR MESHWORK SCHLEMM’S CANAL COLLECTOR CH
Slide 16: OMNI: Cleared for Use in a Revolutionary MIGS Procedure
14 OMNI®: Cleared for Use in a Revolutionary MIGS Procedure in All Adult Patients with POAG OMNI enables two sequential, ab interno MIGS procedures in adults with POAG – intuitive, minimally invasive, performed through a single clear corneal microincision, and each titratable up to 360° Trabeculotom
Slide 17: OMNI is Titratable to All MIGS Categories in POAG
15 OMNI® is Titratable to All 6 MIGS Categories in POAG Low Risk of Hyphema Consistency of Efficacy Degree of Efficacy Represents % of U.S. POAG TAM We are in discussions with the FDA regarding an IDE clinical study designed to support a canaloplasty-only indication for use Mild Disease (40%)1 Moder
Slide 18: FDA-Cleared IFU of OMNI Supports Strong Market Positioning
16 FDA-Cleared IFU of OMNI® Supports Strong Market Positioning March 2021 Indication for Use “For canaloplasty (microcatheterization and transluminal viscodilation of Schlemm's canal) followed by trabeculotomy (cutting of trabecular meshwork) to reduce intraocular pressure (IOP) in adult patients wi
Slide 19: Pooled OMNI Data: Consistent IOP Reduction
17 ROMEO data (published) and single surgeon data sets report consistent IOP reduction in real-world settings Pooled data from 4 studies in 5 peer-reviewed publications Observed lower IOP in 98 of 103 patients (95%) Observed ≥20% decrease in IOP in 77 of 103 patients (75%) For all eyes where preoper
Slide 20: OMNI Clinical Program
12-month multi-center retrospective real world study Elevated baseline IOP group: significant reduction in IOP and medications Controlled baseline IOP group: IOP controlled, significant reduction in medications Compelling and consistent data supported broad FDA cleared indication Includes three rand
Slide 21: OMNI Unlocks $6BN U.S. Opportunity for Standalone MIGS in POAG
19 OMNI® Unlocks $6BN U.S. Opportunity for Standalone MIGS in POAG Addresses all three points of resistance in the conventional outflow pathway Substantial and growing body of clinical evidence (favorable results w/ and w/o cataract surgery across multiple clinical trials) Cataract and severity agno
Slide 22: Dry Eye Disease: TearCare
DRY EYE DisEASE \y learCare
Slide 23: TearCare Indication for Use
20 TearCare® Indication for Use Current Indication for Use The TearCare System is indicated for the application of localized heat when the current medical community recommends the application of a warm compress to the eyelids. Such applications would include Meibomian Gland Dysfunction (MGD), Dry Ey
Slide 24: Dry Eye Disease and Meibomian Gland Dysfunction
21 Dry Eye Disease and Meibomian Gland Dysfunction MEIBOMIAN GLANDS Dry Eye Disease (DED) can be extremely painful and lead to permanent cornea damage and vision impairment MGD is present in the vast majority of diagnosed dry eye cases Clogged glands prevent meibum, an oily secretion that protects t
Slide 25: MGD Market Opportunity
22 MGD Market Opportunity $10B potential U.S. evaporative DED / MGD market is vastly underserved 2019 U.S. treatment spend was ~$2 billion with <$100 million for DED procedures Substantial current treatment limitations Historically, limited focus on MGD Aqueous deficiency and inflammation were synon
Slide 26: Our Solution: TearCare
23 Our Solution: TearCare® We are developing TearCare® as a wearable, open-eye device to deliver optimal heat to the eyelids to melt meibum obstructions; seeking indication for use to address evaporative dry eye due to MGD Heat Therapy Development Program Regulatory Status Intuitive Design In MGD pa
Slide 27: Patient Access Strategy with Expanded Label and RCT Clinical Data
24 Intend to Support Patient Access Strategy with Expanded Label1 and RCT Clinical Data vs. Rx Clinical and real-world data intended to support coverage, coding and payment Payor research: conducted eight 1:1s with medical directors from national and regional payors for feedback on our clinical prog
Slide 28: TearCare Clinical Program Summary
25 TearCare® Clinical Program Summary OLYMPIA RCT (Completed) Head-to-head versus MGD device (LipiFlow®) Objective: To study effectiveness and safety of the TearCare System compared to LipiFlow in reducing the signs and symptoms of DED Prospective multi‐center (10 sites), randomized controlled, mask
Slide 29: TearCare Controlled Release
26 TearCare® Controlled Release - TearCare is currently marketed for the delivery of localized heat where the medical community recommends the application of a warm compress - Executing a controlled release of TearCare with ~10 direct outside sales reps since April 2019 - Successful patient-pay adop
Slide 30: Financial Overview
Delivering the Power of Sight FINANCIAL OVERVIEW
Slide 31: Strong Financial Profile
27 Strong Financial Profile Y/Y Growth Surgical Glaucoma Segment 59% (43%) 33% 30% 33% 263% 196% 17% Dry Eye Segment - 38% 83% (43%) 25% 169% - 57% Total 70% (41%) 36% 25% 33% 258% 210% 18% Revenue by Segment ($M) 2Q 2021 Performance Revenue growth of 258% year over year - Surgical Glaucoma segment