Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — H1 FY2021 Earnings Presentation
19 slides from Nova Eye Medical's earnings presentation, Feb 25, 2021
Slide 1: Nova Eye Medical 1HFY21 Investor Presentation
1 NOVA EYE MEDICAL LIMITED (FORMERLY ELLEX MEDICAL LASERS LIMITED) 1HFY21 INVESTOR PRESENTATION (ASX:EYE) 25 February 2021
Slide 2: Disclaimer
2 DISCLAIMER This presentation has been prepared by Nova Eye Medical Limited (ASX: EYE). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any
Slide 3: Our Business: Glaucoma Surgical Devices
3 OUR BUSINESS Our business comprises two segments; Glaucoma surgical devices and Laser therapy for chronic and age-related retinal conditions. 1. Glaucoma Surgical Devices Segment Glaucoma is the leading cause of blindness in the developed world. Glaucoma treatment with surgical devices represent
Slide 4: Our Business: Laser therapy for retinal disease
4 OUR BUSINESS 2. Laser therapy for chronic age-related retinal disease • The treatment of chronic and age-related retinal diseases, such as early- AMD stage age-related macular degeneration (AMD), represents one of the most significant unmet clinical needs in ophthalmology. • We aim to develop and
Slide 5: Our Current Technologies
5 OUR CURRENT TECHNOLOGIES iTRACK™ MOLTENO3® AlphaRET 2RT® FOR GLAUCOMA FOR GLAUCOMA FOR EARLY AMD Our proprietary iTrack ™ MIGS device is Acquired from innovative world-leader Our proprietary 2RT ® nanosecond redefining the treatment of mild- Molteno Ophthalmic Ltd, the portfolio of laser therapy i
Slide 6: Global Offices
6 GLOBAL OFFICES Global staff = 55 people GERMANY USA Nova Eye Nova Eye, Inc Medical GmbH NEW ZEALAND Molteno Ophthalmic Ltd Headquarters USA Europe Sales iTrack™ Manufacturing Molteno Manufacturing iTrack™ R&D Molteno Quality AUSTRALIA & Regulatory iTrack™ Quality & Regulatory Nova Eye Medical Ltd
Slide 7: 1HFY21 Company Snapshot
7 1HFY21 COMPANY SNAPSHOT Pro-Forma Pro-Forma Market Capitalisation1 Cash2 Enterprise Value3 Global Employees $49.6 million $29.5 million $16.5 million 55 Directors & Mgt. Own 1HYFY21 Revenue 1HYFY21 EBITDA Glaucoma segment 1HYFY21 EBITDA 14% $6.4 million -$0.8 million -$0.3 million 1 Data for marke
Slide 8: 1HFY21 Highlights
8 1HFY21 HIGHLIGHTS Acquisition of Molteno3® and integration into sales Glaucoma channel Surgical Advance next generation iTrack™ Growth in surgical device unit sales despite pandemic Devices Establishment of direct sales business in Germany AlphaRET IDE submission for 2RT® with US FDA for
Slide 9: Group Profit & Loss by Segment
9 GROUP PROFIT & LOSS BY SEGMENT Growth in global market penetration in units sold of 8%, including 9% in the USA Revenue down just 1% in constant currency terms Material improvement in EBITDA–level result for Glaucoma Surgical Devices segment Glaucoma Surgical AlphaRET 2RT Corporate or Other
Slide 10: Group Balance Sheet
10 GROUP BALANCE SHEET $000's Reduction in cash includes $61 million 30 June 2020 31 Dec 2020 distribution to shareholders in July 2020 Cash + Cash Equivalents 95,649 29,476 Total cash at bank is $29.5 million Trade & Other Receivables 3,876 4,406 Income tax includes $8.2 million payable from
Slide 11: Glaucoma Surgical Devices
11 GLAUCOMA SURGICAL DEVICES Two consumable devices for different stages of glaucoma Our proprietary iTrack™ MIGS technology is redefining the Recently acquired from the inventors of glaucoma treatment of mild-moderate glaucoma, achieving drainage device technology, Molteno Ophthalmic Limited, excel
Slide 12: Glaucoma Surgical Devices: 1HFY21 Highlights
12 GLAUCOMA SURGICAL DEVICES 1HFY21 HIGHLIGHTS Sales ($M) EBITDA ($M) Unit sales up 8% from 5,580 to 6,057 – 6.5 6.6 including initial Molteno3® sales – despite 6.4 pandemic 5.2 Sales revenue down 3% to $6.4 million primarily due to appreciation of A$ against US$ Major improvements in sales ma
Slide 13: iTrack Safety Data Confirmed
13 iTRACK™ SAFETY DATA CONFIRMED iTrack enjoys the highest safety profile of any MIGS procedure 12-month prospective data examining stability of endothelial cell density (which measures damage to the corneal endothelium) following iTrack™ (in ENDOTHELIAL conjunction with cataract surgery) showed m
Slide 14: Potential breakthrough therapy for early AMD
14 A potential breakthrough therapy for patients with age-related macular degeneration in its early stages, a multi-center trial has demonstrated that our proprietary 2RT ® technology achieves a 77% reduction in the rate of progression to late-stage AMD in 75% of selected patients, compared to sham
Slide 15: AlphaRET 2RT Update
15 AlphaRET 2RT® UPDATE Continued to progress an Investigational Device Exemption (IDE) application with the US Food and Drug Administration (FDA) to commence a pivotal study for 2RT ® Completion of IDE submission expected in first half of calendar year 2021 Further refinements to application
Slide 16: Our Outlook
16 OUR OUTLOOK Nova Eye Medical is well positioned to capitalise on a recovery in the glaucoma surgical device market through 2021 as COVID-19 vaccination rates accelerate and surgical centres re-open to patients 1 GLAUCOMA SALES FOCUS: investment into iTrack™ and Molteno3® market development in pre
Slide 17: About Glaucoma
17 ABOUT GLAUCOMA Glaucoma is the leading cause of blindness in the developed world – but up to 50% of patients with glaucoma do not realise they have the disease and >50% of diagnosed patients are non compliant . Glaucoma is a group of diseases WHAT CAUSES GLAUCOMA? that cause vision loss due to
Slide 18: About AMD
18 ABOUT AMD In Australia, one in seven people over the age of 50 (1.29 million people) have some evidence of AMD. In the United States, the prevalence of AMD is 11 million. WHAT CAUSES AMD? Age-related macular degeneration (AMD) refers to a a group of AMD is usually related to ageing and most fre
Slide 19: Contacts
19 CONTACTS COMPANY INVESTORS MEDIA Mr Tom Spurling Dr Tom Duthy Ms Kate Hunt Director Investor Relations and Head of Marketing W: +61 8 8362 0193 Corporate Development M: +61 404 080 679 E: tspurling@nova-eye.com M: +61 402 493 727 E: khunt@nova-eye.com E: tduthy@nova-eye.com