Cyclopharm Limited · ASX:CYC
Cyclopharm — Shareholder Meeting (May 2016)
29 slides from Cyclopharm's shareholder meeting presentation, May 11, 2016
Slide 1: 2016 Annual General Meeting
For personal use only Cyclopharm Limited A profitable and growing market leader in nuclear medical imaging and lung healthcare 2016 Annual General Meeting 11 May 2016 1
Slide 2: Chairman's Address
For personal use only 2016 AGM Chairman’s Address Vanda Gould 2
Slide 3: Our Strategy
Our Strategy For personal use only CYC has clear strategy to leverage our position as a leading player in the global nuclear medicine imaging market and lung health space to expand the use of our proprietary products and introduce new innovative technology. We will do this by: 1. Attaining approval
Slide 4: Managing Director's Review
For personal use only 2016 AGM Managing Director’s Review James McBrayer • Company Overview • Introduction • 2015 Highlights • 2015 Financial Results and Performance • Product Overview and Growth Opportunities ― Technegas ― Untralute • 2016 Strategic Priorities and Outlook 4
Slide 5: CYC's Fast Facts
CYC’s 10 Fast Facts For personal use only 1. Technegas is a well established proprietary world leader in functional lung ventilation imaging technology with major revenues generated by single patient consumables 2. Technegas is sold in 55 countries with significant expansion opportunities in the USA
Slide 6: Introduction
Introduction For personal use only In 2015 Cyclopharm made significant progress on our strategy to deliver a substantial increase in shareholder value through the global manufacture and supply of innovative nuclear medicine technologies • Well established, profitable and fiscally disciplined biotech
Slide 7: Our Business
Our Business For personal use only Manufacturer and • Track record of growing revenue, distributor of pulmonary profits and cash flows ventilation imaging • FDA trials for sales in US progressing (Technegas) devices and equipment • Preliminary China trials indicate that Technegas can be an effective
Slide 8: 2015 Highlights
2015 Highlights For personal use only • Record sales of $12.6 million • Record Technegas division operating EBITDA of $2.3 million • Record NPAT $4.8 million • Payment of maiden dividends • Strong cashflow from operations significantly strengthened the balance sheet, with cash reserves at year end t
Slide 9: 2015 Financial Results & Performance
2015 Financial Results & Performance For personal use only Year ended 31 December ($000’s) 2015 2014 • Technegas continues to Underlying Results1: perform strongly Revenue 12,583 12,047 • Price increases and cost reduction initiatives drove Technegas EBITDA 2,980 2,638 improved gross margins Cyclope
Slide 10: Technegas – Expanding the Global footprint
Technegas – Expanding the Global footprint For personal use only • Technegas sold in 55 countries − Europe is the largest regional market for Technegas − In 2014 Canada became largest country market for Technegas surpassing France • Over 3,500,000 patient studies since 1986 • 1,500 Technegas generat
Slide 11: Technegas – USFDA clinical trial program
Technegas – USFDA clinical trial program For personal use only USA Market Size: • Half the world’s nuclear medicine departments are in the USA • USA represents a potential base Pulmonary Embolism market of 480,000 patients per annum. (Current Rest of the World volumes = 200,000 patients per annum) S
Slide 12: Ultralute
UltraluteTM For personal use only Product overview Technology features • Disruptive Technology – changes 60 years • Enables a user to extend the usable life of of how radiopharmaceuticals are a Mo99 Generator manufactured • Allows the user to purchase a smaller • Extends the effective use of Mo99 Mo
Slide 13: Ultralute Generation overview
UltraluteTM Generation overview For personal use only • Designed for the end user application • There are 4,000 Mo99 • Introduced to market Q4 2015 with revenues GEN 1 commencing H2 2016 generators sold worldwide each week. • Designed for radiopharmacy application • Development will commence in 2015
Slide 14: 2016 Strategic Priorities and Outlook
2016 Strategic Priorities and Outlook For personal use only Strategic Goals & Guidance Activity Timeframe United States • Proceed on an independent path to USA market approval Q2 2016 FDA approval • Commence USFDA clinical trials Q2 2016 • Relocate the Cyclopharm manufacturing premises and commence
Slide 15: Formal Business
For personal use only 2016 AGM Formal Business Vanda Gould 15
Slide 16: 2016 AGM – Formal Business
2016 AGM – Formal Business For personal use only Proxy’s Resolution Business For Against Abstain Discretion 1 Remuneration report 46,274,021* 1,865 94,595 38,000 2 Re-election of Vanda Gould 43,597,848* 2,772,633 - 38,000 3 Renewal of share buy-back capacity 46,406,741* 1,277 463 - Contingent busine
Slide 17: Appendix Section
For personal use only Cyclopharm Limited Appendix Section • Cyclopharm History • Technegas 2015 Financial Results • Growth Opportunities and Key Performance Indicators • Technegas • Ultralute • MMI • Disclaimer 17
Slide 18: Our History
Our History For personal use only 1984 1992 2000 2001 2007 2013 Technegas European markets Vita Life Sciences USFDA Technegas Plus UltraluteTM discovered and established acquires program initiated generator launched technology commercialised Tetley Medical for Technegas established 1985 1995 2000 20
Slide 19: Technegas FY15 Performance
Technegas FY15 Performance For personal use only Second consecutive year of record results • Another record financial result in FY15 • PAS margins enhanced by Year ended 31 December ($000’s) 2015 Change 2014 Change 2013 improved local prices in Technegas Results: Sales Revenue Asia and Latin America
Slide 20: Group Balance Sheet
Group Balance Sheet For personal use only Strong financial position • Improved cash position driven by strong cash flows Year ended 31 December ($000’s) 2015 2014 from operations Cash 6,445 3,268 • Capacity to fund growth Other current assets 6,653 5,582 initiatives and ongoing Non-current Assets 3,
Slide 21: Cash Flow
Cash Flow For personal use only • Strong cash reserves Growing cash generation available to fund near to medium term growth opportunities Year ended 31 December 2015 2014 2013 Operating Activities 4,154,834 4,468,780 1,185,110 • Investment Activities in 2015 included FDA, Ultralute & Investing Activ
Slide 22: Growth Opportunities and Key Performance Indicators – Technegas
Growth Opportunities and Key Performance Indicators For personal use only Technegas USA • The USA represents the single largest market with half of the world’s nuclear medicine departments located there • Existing market for PE in the USA equates to ~480,000 patients per annum • First priority follo
Slide 23: Growth Opportunities and Key Performance Indicators – Ultralute, MMI, Cyclopet
Growth Opportunities and Key Performance Indicators For personal use only Ultralute MMI Cyclopet Market • Europe targeted as the Revenue Volumes closely aligned with Molecular Following competition from Penetration primary market to launch the hospital. Continued double Imaging government owned ente
Slide 24: Technegas Volume – Generators and PAS
Technegas Volume – Generators and PAS For personal use only Organic growth in the majority of markets • Europe remains our largest single country market for Technegas • France volumes rebounded in second half 2015 as advised • Canada is our largest single country market with 12 consecutive years of
Slide 25: Technegas – Global Indication Expansion
Technegas – Global Indication Expansion For personal use only Targeting Chronic Obstructive Additional indication and applications Pulmonary Disease (COPD) market – Asthma, Lung Reduction and CTEPH* Evaluating the effectiveness of Technegas in Technegas can provide the clinician the ability to early
Slide 26: Technegas Indication expansion – COPD
Technegas Indication expansion – COPD For personal use only The Global incidence of Chronic Obstructive Pulmonary Disease (COPD) is 30x greater than that of Pulmonary Embolism (PE) It is estimated that by 2020, COPD will be the 4th highest cause of death globally. By 2030 COPD will be the 3rd highes
Slide 27: Ultralute – Targeting direct users of Mo99
UltraluteTM Targeting direct users of Mo99 For personal use only • UltraluteTM v1 is targeted at the clinical end-user market that sources Mo99 Generators directly from manufacturers • The European Mo99 generator market is completely Direct • Ultralute registration in the EU has been determined to b
Slide 28: Macquarie Medical Imaging
Macquarie Medical Imaging For personal use only • Joint venture with: CT MRI PET • 50% Alfred Health Solutions • 30% Macquarie University • 20% Cyclopharm • Comprehensive suite of imaging modalities • State of the art research platform • Growth and profitability linked to ramp-up Cardiac CT Ultra-so
Slide 29: Disclaimer
For personal use only Disclaimer Corporate Head Office Certain views expressed here contain information derived from publicly available sources that have not Cyclopharm Limited been independently verified. Building 75 Business & Technology Park New Illawarra Road The presentation include certain sta