Bioventix Plc · LSE:BVXP
Bioventix — Investor Presentation (October 2024)
19 slides from Bioventix's investor presentation, Oct 28, 2024
Slide 1: Bioventix plc
1 Bioventix plc 28 Oct 2024 Bioventix
Slide 2: Antibodies and Blood Testing
2 Antibodies and Blood Testing ▪Bioventix creates and manufactures sheep monoclonal antibodies (SMAs). Customers incorporate these antibodies in reagent packs for use on automated blood-testing machines antigen antibody ▪Superior antibodies can facilitate improved tests ▪Bioventix sells liquid “phys
Slide 3: Diagnostic Applications for SMAs
3 Diagnostic Applications for SMAs Fertility heart attack & Vitamin D Thyroid function Neurology Drug testing (testosterone, heart failure (25-OH vitamin D) (thyroxine, T3) (Taus) (THC) estradiol, (troponin, BNPs) progesterone) ▪Bioventix has a portfolio of ~25 antibodies that are sold globally to i
Slide 4: Antibodies and Business Dynamics
4 Antibodies and Business Dynamics ▪Projects can be internally driven or sponsored by customers +1 year ▪Bioventix takes about 1 year to create new antibodies Prototype test Old test 2-4 years ▪Even for established diagnostics, customers take 2-4 years to prototype tests, = 3-5 years total conduct f
Slide 5: Key Year End Financials
5 Key Year End Financials £ (‘000) year to year to Cavendish 30.6.23 30.6.24 forecast 2023/24 Sales (3, 4) 12,820 13,610 14,000 (+6%) P/(L) before tax (2) 10,130 10,600 11,400 (+5%) P/(L) after tax (1) 8,370 8,100 8,900 (-3%) Period-end cash 5,720 6,000 5,400 Spring/Autumn dividend 62/90 68/87 173 Y
Slide 6: Key Financials: Notes
6 Key Financials: Notes 1. Profit after tax, EPS, cashflow and dividends have all been influenced by the full year effect of corporation tax increasing from 19% to 25% on 1st April 2023 2. Our £183k investment in CardiNor (Oslo) has been written off 3. A customer error in over-reporting and paying r
Slide 7: Impact of customer error, prior year under accrual & impairment charge
6a Impact of customer error, prior year under accrual & impairment charge Run rate Turnover EBIT & PAT 2022/3- 2023/4 Impairment charge of £183k to write off Cardinor investment Y/E 30 June 2023 2024 Impact: £'000s £'000s Reported Turnover 12,816 13,607 Reported PAT 2023/4 reduced by £183k Run rate
Slide 8: Troponin revenues adjusted
7 ▪Troponin revenues have been adjusted to correct for the impact of the customer reporting error (slide 6) ▪Siemens troponin revenues will terminate in June 2032 Bioventix
Slide 9: Sales Commentary for the Period
8 Sales Commentary for the Period ▪ Vitamin D antibody sales were in line with expectations reflecting the mature nature of vitamin D diagnostics ▪ Troponin sales of ~£1.5M were flat and below expectations based on previous downstream assumptions. However, in July 2024, Siemens received approval fro
Slide 10: Troponin: Prognostic Risk Claim
9 Troponin: Prognostic Risk Claim ▪ADLM July 2024 (Chicago): elevated risk associated with high troponin levels ▪Information relating to future risk can allow clinicians to review the merit of additional diagnostics and alternative medical interventions ▪Ref FDA 510k approval K241165 Bioventix
Slide 11: Alzheimer's Disease
10 (A) Tau PET (T) (T) (N) ▪Alzheimer’s is complex and is ▪The disease progresses many different amongst individuals years before symptoms appear ▪Changes at a cell level include ▪Neurodegeneration in the Amyloid PET (A) amyloid plaques outside neurons brain is clear in later disease and tau tangles
Slide 12: Prototype Blood-based Assays and Antibodies
11 Prototype Blood-based Assays and Antibodies (in a rapidly evolving field) (A) Tau.NT Tau.MTBR [research phase] Detector/sandwich partner Tau tangles? (T) (T) Tau Brain-derived Tau [B-D Tau] Phospho Tau 217 [pT217] Neurodegeneration (N) Amyloid plaques (A) (N) ▪Three SMAs are moving into large sca
Slide 13: Other Pipeline Developments
12 Other Pipeline Developments ▪ Secretoneurin (CardiNor/cardiac): CardiNor have struggled to define the potential utility of secretoneurin diagnostics in cardiac health and are currently restructuring. We have accordingly taken the decision to write off our investment in CardiNor ▪ Amyloid (Pre-Dia
Slide 14: Caffeine, Paracetamol & Sewage
Caffeine, Paracetamol & Sewage 13 ▪The results of lateral flow tests for caffeine and paracetamol should link to DEFRA & WHO standards for healthy bathing water (200 e.coli per 100mL water) ▪QR code and smartphone technology could stimulate citizen testing Bioventix
Slide 15: Bioventix Strategy
14 Bioventix Strategy ▪ Seek novel clinical diagnostic biomarkers that suit our antibody technology and identify partner collaborator labs (eg Tau & University of Gothenburg) ▪ Continue to focus on antibody technology development • Identify antibody technologies that are compatible with existing cor
Slide 16: Bioventix Lab, Farnham
15 Bioventix Lab, Farnham ▪ Technology development ▪ Purification and assay ▪ Cell culture ▪ Bioreactor production ▪Staff continuity has remained high with no recent departures or retirements Bioventix
Slide 17: Bioventix Directors
16 Bioventix Directors ▪Peter Harrison, CEO ▪Ian Nicholson, Chairman ▪>30 years experience of ▪>30 years experience of antibody technology at commercial development within Celltech, KS Biomedix & biotechnology including Bioventix Amersham, Celltech, Chroma, Clinigen, Consort Medical & F2G ▪Peter rem
Slide 18: Significant Shareholders
17 Significant Shareholders Institution Shares % (1000s) Gresham House 578 11.1 Liontrust 571 11.0 Total shares = 5,219,656 (Mar 2024) Sanford DeLand 558 10.7 Hargreaves Lansdown Stockbrokers 363 7.0 Peter Harrison 297 5.7 ▪From permissions, other Schroder Investment Management 285 5.5 available dat
Slide 19: Conclusions and Outlook
18 Conclusions and Outlook ▪ Sales of our vitamin D antibody and other core SMAs have been in line with expectations ▪ Troponin revenues have been disappointing. A new prognostic application for “at risk” heart patients should be additive ▪ Manufacture and commercialisation of Tau antibodies made pr