Cyclopharm Limited · ASX:CYC
Cyclopharm — Shareholder Meeting (May 2025)
49 slides from Cyclopharm's shareholder meeting presentation, May 30, 2025
Slide 1: 2025 Annual General Meeting
For personal use only 2025 Annual General Meeting
Slide 2: Safe Harbour Statement
Certain views expressed here contain information derived from publicly available sources that have not been independently verified. The presentation includes certain statements, estimates and projections with respect to the anticipated future financial performance of Cyclopharm Limited and as to the
Slide 3: Welcome
For personal use only WELCOME Mr David Heaney 3
Slide 4: Chairman's Address
For personal use only CHAIRMAN’S ADDRESS Mr David Heaney 4
Slide 5: Australian innovation entering a new era of Nuclear Pulmonology
Australian innovation entering a new era of For personal use only Nuclear Pulmonolgy driven by AI Technegas is now available in 66 countries. Direct distribution in 17 countries. Over 5.0 million patient procedures to date Recently approved in the US Leveraging global infrastructure with Business Pa
Slide 6: 2024 key highlights
1 TechnegasTM in 66 countries with a strong second half of 2024 supporting record global sales up 5% on the prior corresponding period (pcp) 2 For personal use only TechnegasTM installed at 33 US sites at 30 May 2025 with conservative growth estimates of 250 – 300 total installations by second half
Slide 7: Managing Director's Address
For personal use only MANAGING DIRECTOR’S ADDRESS Mr James McBrayer 7
Slide 8: 2024 Full Year Financial Results
For personal use only 2024 Full Year Financial Results
Slide 9: 2024 financial results summary
For personal use only Record Sales Revenue • $27.6m up 5% from $26.3m in the pcp • Global sales revenue up 5% from the pcp to $15.2 million, with a Technegas strong second half up 14%, driven by initial US sales. 3rd Party Distribution • Global revenue up 4% from the pcp to $12.4 million • Initial U
Slide 10: 2024 Trading Highlights and Revenue Trend by Category
2024 Trading Highlights Group Revenue Trend by Category (last 3 years) For personal use only • Underpinned by PAS1 sales delivering 72.6% of revenue compared to 70.7% in $30m Technegas the pcp • 55 system sales compared to 58 in the $25m pcp (excluding USA) • Capital projects revenue up 83% in the $
Slide 11: Understanding Technegas
For personal use only Understanding Technegas
Slide 12: Unique Drug + Device + Service combination
Unique Drug + Device + Service combination = regulatory barrier to entry For personal use only Technegas comprises the following components SYSTEM PER PATIENT CONSUMABLES SUPPORT USFDA Drug-Device TECHNEGAS PLUS SYSTEM TECHNEGAS ® SYSTEM PACK Combination product Technegas (Crucible) Technegas® Train
Slide 13: Understanding Third Party Products
For personal use only Understanding Third Party Products
Slide 14: Leveraging Sales, Service & Regulatory Footprint in Direct Markets
Leveraging our Sales, Service & Regulatory Footprint in our Direct Markets For personal use only Third-Party Products comprise the following components Direct sales and Service in 17 Consumables and Equipment Sales SUPPORT out of 66 approved markets Radiopharmaceuticals Hotcells for Radiopharmaceuti
Slide 15: Technegas USA Expansion
For personal use only Technegas USA Expansion
Slide 16: Establishing a Network of Key Opinion Leader Locations
Establishing a Network of Key Opinion Leader Locations For personal use only Rollout Update as of 30 May 2025: 33 US installations to date Sales Generated since approval: $US1million (A$1.6million) @ 31 March 2025 $US1.35 million (A$2.16 million) @ 30 May 2025 CMS Pass Through reimbursement granted
Slide 17: Potential applications across respiratory medicine
Potential applications across the entire field of respiratory medicine For personal use only Technegas (kit for the preparation of technetium Tc99m labeled carbon inhalation aerosol) for oral inhalation use – NDA 022335 ------------------USFDA APPROVED INDICATIONS AND USAGE------------------- TECHNE
Slide 18: Ventilation imaging agent of choice in established markets
Technegas - the ventilation imaging agent of choice in established markets For personal use only Survey conducted before Technegas USA launch highlights that: 85% of nuclear medicine ventilation studies ex-USA are performed using Technegas Xenon-133 has been displaced in all markets where Technegas
Slide 19: Placement Model to Expedite Consumable Demand
Placement Model to Expedite Consumable Demand For personal use only US$7k one-off installation and Targeting 2,000 of the 8,000 US nuclear medicine departments. 250-300 total installations achieved training fee during the second half 2026. System Placement model supports rapid uptake US$7k p.a. tech
Slide 20: Best-in-class global technology
Best-in-Class Global Technology - Technegas® is widely regarded as the world’s leading nuclear medicine functional 1 ventilation imaging agent, with more than 5 million patient procedures performed globally. For personal use only Broad FDA Indication - US FDA approval includes a wide-ranging indicat
Slide 21: Blue Sky Beyond PE
For personal use only Blue Sky Beyond PE:
Slide 22: Evolution of Ventilation Imaging
Evolution of Ventilation Imaging PLANAR SPECT SPECT/CT SPECT/CT Future Quantification A.I.2023 For personal use only Applications 1986 22 Lobar distribution of ventilation AI reaching to segmental and subsegmental level analysis leading to chronic condition management and Treatable Trait identificat
Slide 23: Clinical trials already underway
Clinical trials already underway For personal use only *Including PE applications. On a long-term basis. 1. Roach PJ, et al. J Nucl Med 2013; 54: 1588-1596 10. Bajc M, et al.. Int J Chron Obstruct Pulm Dis 2017; 12: 1579- 17. Tee, et al; Intrevent Pulmonology; 2021, DOI 2. Ohira H, et al. J Nucl Car
Slide 24: Beyond Pulmonary Embolism Initiatives Underway
Beyond Pulmonary Embolism Initiatives Underway 7 Cyclopharm sponsored Beyond PE clinical trials Hunter Medical Research Institute (Newcastle, AU): Diagnosis and response to therapy in severe asthma and COPD1 For personal use only 1 100 Patient Study * 100% Recruited * Study Published6, Woolcock Inst
Slide 25: Outlook Cyclopharm
For personal use only Outlook Cyclopharm
Slide 26: Upcoming Milestones and Growth Catalysts
250–300 US installations during the second half of 2026. For personal use only Sales Force expansion to meet Upcoming demand. Milestones and Targeting clinical initiatives to expand the use of Technegas Growth Catalysts Beyond PE New third-party opportunities to further broaden our reach Lev
Slide 27: Outlook: Technegas USA installations
Outlook: 250 - 300 Technegas USA Total Installations achieved during Second Half 2026 For personal use only Profitable and First in Class USFDA Approval Granted Recurring Revenue Technegas Product Growing MedTech Established Gold Standard Set to quadruple the size From single patient expansion Under
Slide 28: Formal Business
For personal use only FORMAL BUSINESS Mr David Heaney 28
Slide 29: 2025 AGM Formal Business Resolutions
2025 AGM – Formal Business Resolutions For personal use only 1 Financial Statements and Reports – (b) Remuneration Report 2 Re-election of Ms Dianne Angus as Director 3 Approval of grant of performance rights 4 Approval of grant of performance rights to the Managing Director for FY25 STI 5 Approval
Slide 30: Resolution 1b Remuneration Report
CYC AGM 2025 Resolutions 1b “That the Remuneration Report as set out in the Annual Report of the Company for the financial For personal use only year ended 31 December 2024 be adopted.” Resolution For Against Discretionary Exclusions Abstain Remuneration Report 59,178,529 283,084 54,267 3,051,770 4,
Slide 31: Resolution 2 Re-election of Director
CYC AGM 2025 Resolutions 2 “That, for the purposes of ASX Listing Rule 14.4 and for all other purposes, Ms Dianne Angus, who For personal use only retires at the close of this Annual General Meeting and, being eligible, and having consented to act, be re-elected as a Director of the Company.” Resolu
Slide 32: Resolution 3 Grant of performance rights
CYC AGM 2025 Resolutions 3 “That, for the purposes of ASX Listing Rule 7.2 (exception 13(b)) and for all other purposes, For personal use only approval is given for the grant of up to 4 million performance rights in the Company under the Plan within 3 years from the date of this resolution, on the t
Slide 33: Resolution 4 Managing Director FY25 STI
CYC AGM 2025 Resolutions 4 “That, for the purposes of ASX Listing Rule 10.14, section 200E of the Corporation Act 2001 (Cth) For personal use only and for all other purposes, approval be and is hereby given to the grant to the Managing Director (or his nominee) of performance rights over Shares havi
Slide 34: Resolution 5 Managing Director FY25 LTI
CYC AGM 2025 Resolutions 5 “That, for the purposes of ASX Listing Rule 10.14, section 200E of the Corporation Act 2001 For personal use only (Cth) and for all other purposes, approval be and is hereby given to the grant to the Managing Director (or his nominee) of performance rights over Shares havi
Slide 35: Resolution 6 Non-executive director remuneration
CYC AGM 2025 Resolutions For personal use only 6 “That for the purposes of Listing Rule 10.17 and for all other purposes, the shareholders of the Company approve the increase of the maximum aggregate amount payable to non- executive directors by way of directors' fees from $450,000 to $600,000.” Res
Slide 36: Resolution 7 Prior issue of Placement Shares
CYC AGM 2025 Resolutions 7 “That for the purposes of Listing Rule 7.4 and for all other purposes, shareholders ratify the For personal use only issue of 14,084,508 fully paid ordinary shares at an issue price of A$1.42 (Placement Shares) issued by a way of a placement to sophisticated and profession
Slide 37: 2025 AGM Proxy Summary
2025 AGM – Proxy Summary Resolution For Against Discretionary Exclusions Abstain 1(b). Remuneration Report 59,178,529 283,084 54,267 3,051,770 4,182 For personal use only 2. Re-election of Director 62,476,956 27,700 55,143 - 12,500 3. Approval of grant of performance rights 59,314,524 460,862 50,143
Slide 38: Thank You
For personal use only THANK YOU 38
Slide 39: Questions
For personal use only Questions
Slide 40: Attachment Section
For personal use only Attachment Section
Slide 41: Technegas Supplemental Information
For personal use only Technegas Supplemental Information
Slide 42: Functional Imaging showing where oxygen is distributed within the lung
Functional Imaging showing where Oxygen is distributed within the lung For personal use only Technegas is composed of 99mTc cores encapsulated within layers of graphite to form individual hexagonal plate-like particles.1-2 Technegas is manufactured by heating Technetium-99m in a carbon crucible with
Slide 43: Nuclear medicine agent of choice in established markets
Technegas is the nuclear medicine agent of choice in established markets For personal use only Endorsed by the guidelines from the European1-2 and the Canadian3 Associations of Nuclear Medicine (EANM & CANM) “ Using 99m-Tc-Technegas® is according to clinical experience better than the best aerosols
Slide 44: Recent Research and Articles Driven by Clinicians
Recent Research and Articles Driven by Clinicians and End Users: For personal use only Technegas -Technegas at Last! Implementing Technegas into Clinical Practice in the United States: Considerations, Challenges, and Recommendations Delynn Silvestros and Tina M. Buehner; Journal of Nuclear Medicine
Slide 45: Diagnostic ability of V/Q SPECT/CT versus CTPA
Accuracy For personal use only NPV Radiation Dose mSv Nuclear Medicine vs CTPA PPV 20 Specificity Sensitivity 3.1 1 0% 25% 50% 75% 100% V/Q SPECT/CT V/Q SPECT CTPA V/Q Planar VQ SPECT or Planar VQ SPECT/ CT CTPA Diagnostic ability of V/Q SPECT/CT1, V/Q SPECT1, CTPA1 and V/Q Planar2 to detect PE (ada
Slide 46: Technegas compared with Xenon-133, DTPA and wet aerosol
Technegas® For personal use only Easy 3 to 4 breaths 3D images No contraindications Covid-19 Xenon - 133 DTPA Tc99m Wet Aerosol True radioactive No 3D images impacts efficacy, bronchospasm, gas inhaled with limited to planar COVID-19 concerns full face mask imaging resulting in lower sensitivity & s
Slide 47: USA Commercialisation Pathway
Clinical Regulatory Key Opinion Leaders engaged Australian Site Manufacturing Approved Medical Affairs Director Recruited USFDA Approval Granted Clinical Affairs Director Recruited Majority of State Pharmaceutical Wholesale Recruit Chief Medical Officer 2026. Licenses being Granted R
Slide 48: The importance, urgency and opportunity Beyond PE
The importance, urgency and opportunity ‘Beyond PE” underway For personal use only Lung Disease in 2019 accounted for 6 million deaths 1 worldwide (12% of all deaths) COPD and Lower Respiratory Infections and Lung Cancer 2 will be the 3rd, 4th and 6th largest causes of death by 2030. “Over and under
Slide 49: Hierarchy of Evidence
Hierarchy of Evidence For personal use only Technegas has A High Standard of Clinical Evidence to Drive Adoption in Traditional & Beyond PE Applications 49