Envoy Medical, Inc. · NASDAQ:COCH
Envoy Medical — Investor Presentation (July 2024)
28 slides from Envoy Medical's investor presentation, Jul 15, 2024
Slide 1: Investor Presentation July 2024
INVESTOR PRESENTATION July 2024 www.envoymedical.com NASDAQ: COCH Hear for Life
Slide 2: Forward Looking Statements
Nasdaq: COCH 2 FORWARD LOOKING STATEMENTS This presentation includes “forward - looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward - Looking statements may be identified by the use of words “project,”
Slide 3: Investment Overview & Key Metrics
Nasdaq: COCH 3 INVESTMENT OVERVIEW & KEY METRICS Envoy Medical (NASDAQ: COCH): • Innovative hearing health company based in the United States (MN) focused on hearing implants. • Leading the way in “fully” or “totally” implanted hearing devices. • Only company with an FDA - approved, fully implanted
Slide 4: Product Overview
Nasdaq: COCH 4 PRODUCT OVERVIEW Esteem ® FI - AMEI • The only company in the world that has successfully obtained a fully implanted hearing device approved by the FDA. • Recently introduced bipartisan bill seeks to clarify fully implanted active middle ear devices as prosthetics, opening pathway to
Slide 5: How Sound Travels Through the Ear
Nasdaq: COCH 5 HOW SOUND TRAVELS THROUGH THE EAR Sound waves travel down the ear canal and hit the eardrum The waves are transmitted mechanically through the ossicular chain to the cochlea The cochlea converts sound waves to electrical signals which travel to the brain via the auditory nerve Outer e
Slide 6: Source of Most Hearing Loss – The Cochlea
Nasdaq: COCH 6 SOURCE OF MOST HEARING LOSS – THE COCHLEA • The cochlea, or inner ear, is filled with fluid and contains thousands of tiny hair cells that move as sound vibrations are transferred from the middle ear to the cochlea. • Hair cell movement causes signals to be sent via the hearing nerve
Slide 7: Acclaim CI, Hearing Aids, Esteem FI-AMEI
Nasdaq: COCH Acclaim CI Hearing Aids Esteem FI - AMEI 7
Slide 8: Nature's Microphone – The Ear
Nasdaq: COCH 8 NATURE’S MICROPHONE – THE EAR Both of Envoy Medical’s devices leverage the ear’s anatomy. There is nothing in the ear. Sound enters the outer ear and funnels down the ear canal causing the eardrum to vibrate. All as nature designed and intended. 0 10 20 250 500 750 1000 1500 2000 3000
Slide 9: Hearing Loss: Global Market
Nasdaq: COCH 9 HEARING LOSS: GLOBAL MARKET Key Facts from the World Health Organization 1 : • More than 1.5 billion people may have some form of hearing loss during their lifetime. • Approximately 430 million of those individuals have “disabling hearing loss” that requires intervention. 2 • By 2050,
Slide 10: ~2.8M U.S. Adults May Be Candidates for Cochlear Implants
Nasdaq: COCH 10 ~2.8M U.S. ADULTS MAY BE CANDIDATES FOR COCHLEAR IMPLANTS 1 • “Hearing loss is the third most common chronic physical condition in the United States and is twice as prevalent as diabetes or cancer.” 5 • Approximately 48 million Americans have some form of hearing loss. Over the next
Slide 11: Traditional Cochlear Implants
Nasdaq: COCH 11 TRADITIONAL COCHLEAR IMPLANTS Cochlear implants replace the function to the inner ear by providing direct electrical stimulation of the auditory nerve. Sound processor - External • Picks up and processes sound into digital information. Implant - Internal • Receives signal from the so
Slide 12: Fully Implanted Cochlear Implant: An Obvious Opportunity
Nasdaq: COCH 12 FULLY IMPLANTED COCHLEAR IMPLANT: AN OBVIOUS OPPORTUNITY • Envoy Medical believes that if, given an opportunity to choose between a fully - implanted cochlear implant with no externals, and a partially - implanted cochlear implant with externals, a significant portion of patients wou
Slide 13: Acclaim CI Expects to Be First Fully Implanted Cochlear Implant
Nasdaq: COCH 13 ACCLAIM ® CI EXPECTS TO BE FIRST OF - ITS - KIND FULLY IMPLANTED COCHLEAR IMPLANT (FICI) DEVICE DISCREET • No need for externally worn components. • Designed to use the ear to pick up sound. No external artificial microphone needed. DEPENDABLE • Designed to allow true 24/7 hearing. •
Slide 14: Product Overview – Esteem FI-AMEI
Nasdaq: COCH 14 PRODUCT OVERVIEW – ESTEEM ® FI - AMEI The Esteem ® FI - AMEI is the first and only FDA - approved, fully - implanted active middle ear implant (FI - AMEI) 1. The Envoy Sensor converts the vibrations into electrical signals that are sent to the implanted Esteem Sound Processor. 2. The
Slide 15: Three Fully Implanted Components
Nasdaq: COCH 15 THREE FULLY IMPLANTED COMPONENTS The Esteem ® FI - AMEI Opportunity Driver Sound Processor Sensor
Slide 16: How the Esteem FI-AMEI Hearing Implant Works
Nasdaq: COCH 16 HOW THE ESTEEM FI - AMEI HEARING IMPLANT WORKS For illustrative purposes only. Experience and results may vary.
Slide 17: Complacent Existing Participants
Nasdaq: COCH 17 COMPLACENT EXISTING PARTICIPANTS Market Share: ≈65% (ASX: COH) $1.2B Revenue ~$9.9B Market Cap 1 Market Share: ≈15% Privately Held Market Share: ≈10% (SWX: SOON) $3.9B Revenue ~$15.8B Market Cap NOTE: 1. PitchBook Data, as of August 2023; Market share data shown are estimates based o
Slide 18: Envoy Medical Could Disrupt a Multi-$B Cochlear Market
Nasdaq: COCH 18 ENVOY MEDICAL COULD DISRUPT A MULTI - $B COCHLEAR MARKET x • • • Feasibility Study on Record x x x • Breakthrough Device Designation from U.S. FDA for Fully Implanted Cochlear Implant x x x • Investigational Device Exemption (IDE) to implant U.S. patients (Early Feasibility Study) X
Slide 19: Revenue Growth & Shareholder Return
Nasdaq: COCH $8.0 $16.4 $28.6 $50.6 $82.1 $115.4 $233.4 $407.9 $624.8 $- $100.0 $200.0 $300.0 $400.0 $500.0 $600.0 $700.0 2015 2016 2017 2018 2019 2020 2021 2022 2023 19 REVENUE GROWTH & SHAREHOLDER RETURN Implantable Device Market Opportunity Inspire disrupted the sleep apnea market with the first
Slide 20: Illustrative Track to Commercialization
Nasdaq: COCH 20 ILLUSTRATIVE TRACK TO COMMERCIALIZATION 2019 2022 2023 2024 - 2025 2026 FDA Breakthrough Granted Q3 2022 EFS IDE Accepted Q4 2022 First activation First patient implanted at Mayo Clinic Full EFS Enrollment 3 patients Q2 2023 Colin Driscoll, MD ACIA Presentation Planned Funding ~$40 -
Slide 21: Contact Details
Contact Details Investor & Media Relations: Scott Arnold CoreIR (310) 497 - 8817 scotta@coreir.com www.envoymedical.com /investors
Slide 22: Appendix
APPENDIX
Slide 23: Hearing Loss: Types and Severity Overview
Nasdaq: COCH HEARING LOSS: TYPES AND SEVERITY OVERVIEW Hearing loss can be due to damage of the outer/middle (conductive) or inner (sensorineural) ear and can range from mild to profound. Conductive Sensorineural Hearing Loss Conductive Hearing loss due to problems with ear canal, ear drum, or middl
Slide 24: Discreet and Implantable Medical Technology Continues to Innovate Markets
Nasdaq: COCH Sleep Apnea Fully Implanted Cochlear Implants Glucose Monitoring Pacemaker FDA Approves Inspire ® Upper Airway Stimulation (UAS) Therapy for Obstructive Sleep Apnea FDA Breakthrough Designation granted for Envoy’s fully implantable cochlear implants FDA approves first continuous glucose
Slide 25: Envoy's Rechargeable Battery Expected to Last Several Days
Nasdaq: COCH 25 ENVOY’S RECHARGEABLE BATTERY EXPECTED TO LAST SEVERAL DAYS BETWEEN CHARGES Remain mobile while charging with the charging system Battery charging system only worn while charging, a few hours every 4+ days** Envoy’s battery is similar to other medical devices with implanted, rechargea
Slide 26: Key Leaders – Management Team
Nasdaq: COCH KEY LEADERS – MANAGEMENT TEAM Brent T. Lucas, CEO Mr. Lucas has been the Chief Executive Officer of Envoy Medical Corporation for the last seven years and brings over 15 years of experience in the active implantables in the hearing health industry . He has served in various roles and ga
Slide 27: Board of Directors
Nasdaq: COCH Envoy Medical, Inc. Board of Directors Glen Taylor Chairman Emeritus • Founder and chairman of Taylor Corporation, a global printing and communications company and one of the nation’s largest privately held companies. • A member (and former chair) of the Board of Governors of the Nation
Slide 28: Cochlear Implant Advisory Board
Nasdaq: COCH Jannine “Jan” Larky , M.A. ǀ Stanford Ear Institute (Palo Alto, CA) Dr. Aniket Saoji , Ph.D. ǀ Mayo Clinical (Rochester, MN) Dr. Sarah Sydlowski , Ph.D. & Au.D . ǀ Cleveland Clinic (Cleveland, OH) Dr. Melissa Hall , Au.D . ǀ University of Florida (Gainesville, FL) Dr. Camille Dunn , Ph.