Victrex Plc · LSE:VCT
Victrex — Investor Presentation (January 2010)
22 slides from Victrex's investor presentation, Jan 21, 2010
Slide 1: Invibio Biomaterial Solutions Investor Presentation
Invibio Biomaterial Solutions Investor Presentation Michael Callahan: Managing Director 20 & 21 January 2010 Company Confidential
Slide 2: Agenda
Agenda • Introduction • History • Key Markets – Spine – Orthopedic – Arthroscopy – Others • Geographic Expansion • Technology Developments Company Confidential
Slide 3: Invibio
Invibio • Invibio Biomaterial Solutions – Victrex plc division focusing on specialised solutions for medical device manufacturers • An innovative global leader providing: – High performance biomaterials – Advanced technical research and services – Proven market expertise across a wide device range •
Slide 4: A Decade of PEEK-OPTIMA
A Decade of PEEK-OPTIMA • 1999 PEEK-OPTIMA® polymer introduced • 2000 1st long-term contract executed • 2001 Invibio Ltd & Inc established • 2003 ISO 13485 accreditation (cGMP) achieved • 2004 PEEK-CLASSIX® polymer introduced • 2006 ENDOLIGN® polymer composite launched • 2007 Invibio Global Technolo
Slide 5: 2009 Summary
2009 Summary • Revenue up 37% to £34.2m • Gross Profit up 37% to £30.1m • UK Technology Centre – Lancashire • 47 employees • Overheads investment 36% • 300+ Long-term Supply Assurance Agreements Company Confidential
Slide 6: Revenue History
Revenue History £35,000 £30,000 £25,000 £20,000 £15,000 £10,000 £5,000 £0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Company Confidential
Slide 7: Key Market Segments
Key Market Segments (30 Sep 09) LT SAA Revenue Cardio / Neuro, Cardio / Neuro, 2% 7% Orthopaedic, Other, Other, 2% 5% 11% Arthroscopy 9% Orthopedic Spinal NF, 8% 5% Spinal fusion, Spinal fusion, Arthroscopy, 60% 76% 11% Spinal NF, 5% Company Confidential
Slide 8: Key Markets
Key Markets • Spine – Cervical – Lumbar • Orthopedic • Arthroscopy • Others – Bariatric – Cardiovascular/Neurology – Dental Company Confidential
Slide 9: A Decade in Spine
A Decade in Spine 1999 2009 Spine Market Revenues $700m $9b Annual Spine 510k filings 60 185 PEEK-OPTIMA based 510k filings 0 >200 PEEK medical based peer reviewed publications 70 312 PEEK-OPTIMA grades 3 50 Spinal Innovation with PEEK-OPTIMA Cervical and Minimally Cervical Posterior Dynamic Lumbar
Slide 10: Spine Basics: Cervical
Spine Basics: Cervical CDR c al i erv te C Pla Sta Cer nd Alo vica ne F l Ca ge ACD Company Confidential
Slide 11: Spine Basics: Lumbar
Spine Basics: Lumbar LDR Interspinous Process Devices c leus nt Nu eme ep lac R F LI /X IF TL L IF /P LIF R A VB Posterior Stabilization Company Confidential
Slide 12: Orthopedic
Orthopedic Company Confidential
Slide 13: Hip – longer term
Hip – longer term • Potential opportunities – Resurfacing – Acetabular single piece cups – Hemi-arthroplasty courtesy Stryker Orthopaedics • Trends – Improved patient outcomes, especially for younger active population • Increased ROM and bone sparing – MoM: metal ion concerns are growing • Increased
Slide 14: Knee – shorter term
Knee – shorter term Courtesy Wright Medical • Potential opportunities Technologies – Revision knee – Unicondylar knee – Tumor Systems – Resurfacing / Interpositional • Trends – More conservative approaches • Unicondylar and resurfacing – Revision knee • Opportunities to establish novel materials – P
Slide 15: Arthroscopy
Arthroscopy • Suture anchors; interference screws • Focused strategy initiated in 2003 – Identify opportunity; developed penetration plan – Demonstrate benefits versus metals – Signed industry leader first • The outcome: – Contracts in place with all major device manufacturers – “PEEK-OPTIMA is the
Slide 16: Other
Other Bariatric • Weight loss treatments – Morbid obesity (BMI >40) – 1.6 billion overweight adults globally – PEEK-OPTIMA well positioned with industry leaders Cardiovascular/Neurology • Electrical stimulation – Success with leads and connectors – Leverage successes to enclosures Dental • Healing d
Slide 17: Technology Developments
Technology Developments Time to Commercialization Surgeon Acceptance Regulatory Approval Market Launch OEM Prototypes & Pre-clinicals Clinical OEM Studies Discussions Initial Sampling Potential Time Horizons Spine ~3 Yrs Screening Small Joints ~3-5 Yrs Tests Hip/Knee ~5-10 Yrs YEARS Company Confiden
Slide 18: Technology Development - ST
Technology Development - ST • Product Portfolio Extensions – Reinforced products – Image contrast products • Ensure extensive US FDA Master Files accompany new products Images courtesy icotec Images courtesy NMB Company Confidential
Slide 19: Technology Development - MT
Technology Development - MT • Biotribology research program – MOTIS™ launched at AAOS & EFORT – Participating in £3m of grant funded programmes for hip development – MOTIS primarily for orthopedic market – Commercialised knee, finger and spine devices with extensive range of development programs und
Slide 20: Technology Development - LT
Technology Development - LT • Resorbables – Collaborative development with Smith&Nephew for a novel, structural bioresorbable polymer • Bone in-growth – Porous structure opportunities in spinal, orthopedic and arthroscopy markets Company Confidential
Slide 21: Summary
Summary • Invibio: – Innovative biomaterials – Develop advanced solutions – Continue investing in our people and emerging technologies – High growth business Strong future ahead for Invibio Company Confidential
Slide 22: Invibio biomaterial solutions
ae Invibio biomaterial solutions Company Confidential