Hvivo Plc · LSE:HVO
Hvivo — H1 2022 Earnings Presentation
27 slides from Hvivo's earnings presentation, September 2022
Slide 1: H1 2022 Financial Results
H1 2022 Financial Results September 2022 LSE : ORPH
Slide 2: Disclaimer
Disclaimer • The contents of this presentation and the information which you are given at the time of the presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (the “Act”). Reliance on this presentation for the purpose of engagi
Slide 3: Presenters
Presenters Dr. Yamin ‘Mo’ Khan Leo Toole CEO CFO 3
Slide 4: Open Orphan plc becoming hVIVO plc
Open Orphan plc becoming hVIVO plc
Slide 5: Open Orphan becoming hVIVO: Why?
Open Orphan becoming hVIVO Why? Further details 1. hVIVO is the operating brand Completion Date ORPH ticker will 2. hVIVO brand is globally recognised by pharma, 26th October 2022 become HVO biotech, academics, and the media 3. hVIVO is a long standing, trusted partner to the biopharma industry for
Slide 6: Who we are?
Who we are? World leader in testing 10+ Challenge Study Models infectious & respiratory disease products using human challenge 66 Completed Human Challenge Studies studies addressing the growing infectious disease market 3500+ Volunteers Inoculated
Slide 7: hVIVO – H1 Performance Summary
hVIVO – H1 Performance Summary Steady Performance £18.9M £2.3m £15.9m H1-2022 H1-2022 EBITDA H1-2022 in H1 Revenue 12.1% EBITDA Margin Cash Balance Well Positioned £50m 13-15% 80% Reaffirm Revenue Target Target FY23 Revenue for Growth in 2022 £9m Revenue in Jul/Aug’22 EBITDA Margin Contracted as at
Slide 8: Record Contracted Orderbook
Record Contracted Orderbook 80 Orderbook Growth of c.280% £70m 70 Significant contracts in H1 2022 60 • £7.2m (RSV) – challenge trial with top 5 global pharma client 50 £46m £42m • £7.3m (Influenza) – challenge trial with European biotech 40 • £5m (RSV) – challenge trial with European biotech 30 £25
Slide 9: Expanding our Portfolio of Models
Expanding our Portfolio of Models Growth in our portfolio of models with particular emphasis on full-service contracts for our Big Pharma clients High Value Full-Service Contracts Launched New Models New Omicron Model Asthma Model • Developing Omicron COVID-19 model with Vaxart Inc. • First Asthma S
Slide 10: FluCamp Recruitment Platform
FluCamp Recruitment Platform Patient recruitment is the #1 problem for all CROs H1-2022 FluCamp Improvements Our FluCamp recruitment platform has an • Online Self Booking experienced track record of delivering • New CMS system successful recruitment to our trials • Online screening for patients • Ex
Slide 11: Delivered on Key Value Adding Initiatives in H1
Delivered on Key Value Adding Initiatives in H1 Continuing to develop new revenue streams to offer new and existing clients additional services Expanding Lab Services Launch Research Site Services Recruitment Strategies • Increased volume of lab services • Leveraging our upgraded infrastructure • Ma
Slide 12: Venn is a Key Driver of the Business
Venn is a Key Driver of the Business Venn offers an integrated package of consulting services from preclinical through late phase and approval; accelerating the development of its clients’ products Expanding our Core Offering 1 • Expansion within our key clients (“land-and-expand”) • Growth into ATM
Slide 13: Attractive Market Dynamics
Attractive Market Dynamics The global clinical CRO market was Our Challenge Trials have Supported Breakthrough $46.7B+ estimated to be worth $46.7bn in 2021 and to grow at a 10% CAGR to 20241 Therapy Designation with the FDA The infectious disease clinical trial Bavarian Nordic Top 5 Big Pharma $5.5
Slide 14: Why do a Human Challenge Trial?
Why do a Human Challenge Trial? CLINICAL SCIENTIFIC REGULATORY FINANCIAL DEVELOPMENT Generates Requires fewer Potential for Fast Significant invaluable dosing, subjects Track or Break valuation uplift for safety and efficacy Through Biotech sponsor data designation Significant time savings Potential
Slide 15: Partner of Choice for Big Pharma
Partner of Choice for Big Pharma Preferred partner for 4 of the top 10 global biopharma1 hVIVO’s Biotech Clients • hVIVO work with a large number of 3 2 8 biotechs – challenge studies are a key Active Challenge Full-Service Challenge Challenge Studies inflection point Studies Programmes signed with
Slide 16: Financial Performance & Outlook
Financial Performance & Outlook
Slide 17: Summary Financial Highlights
Summary Financial Highlights £’m H1-2022 H1-2021 Comment H1-2022 revenues of £18.9m 2022 revenue weighted to H2 Reaffirm revenue guidance of £50m for 2022 Revenue for July & August 2022 of c.£9m Revenue 18.9 23.2 hVIVO division is the core growth driver representing over 80% of H1-2022 rev
Slide 18: A Sustainably Profitable & Cash Generative Business
A Sustainably Profitable & Cash Generative Business EBITDA EBITDA Margin Cash £5m 8.9% 12.1% £2.1m £2.3m £20m £14.9m £15.9m £14.7m £10m -£5m -£4.1m -60% -57.7% £0m H1-2020 H1-2021 H1-2022 H1-2020 H1-2021 H1-2022 H1-2020 H1-2021 H1-2022 • Increased H1-2022 EBITDA of £2.3m • H1-2022 EBITDA Margin incr
Slide 19: Market Consensus
Market Consensus Revenue c. £55m c.£50m • Full year guidance remains at c.£50m revenue for 2022 (revenue for July & August 2022 of c.£9m) £39m • Drive efficiencies and productivity to achieve double digit EBITDA margin for full year 2022 • Focus on orderbook conversion into 2023 targeting c.£55m of
Slide 20: Investment Case
Investment Case 01Strong Market Dynamics 02 Scalable Infrastructure • Attractive market dynamics across rapidly growing infectious • Investment in the operational infrastructure to deliver disease space further growth • World leader in challenge trials for infectious and respiratory • Increased bed
Slide 21: Questions
hvivo formerly Open Orphan ple Questions
Slide 22: Appendix
hvivo formerly Open Orphan ple Appendix
Slide 23: What is a Human Challenge Trial?
What is a Human Challenge Trial? Progression of a Volunteer While in Quarantine During a Typical Human Challenge Trial Generic screening Stage 2 Stage 3 Stage 4 Volunteers are randomly stratified Stage 1 Inoculation with the Volunteers undergo full Recovered volunteers Volunteer recruitment, cha
Slide 24: History of hVIVO
History of hVIVO 1945 1989 2001 2001-2007 UK Government establishes Common Cold Unit closes. First human Retroscreen recruits the human challenge Retroscreen Virology is challenge trial 800+ influenza Common Cold Unit in founded by Prof John takes place volunteers Salisbury, UK. Oxford & Pat Meeking
Slide 25: RSV Human Challenge: A tool for a break-through designation
RSV Human Challenge: A tool for a break-through designation The Challenge To speed up the development process by achieving fast proof of efficacy to fast-track regulatory discussions 47 days to obtain CA/EC approval The Solution 62 Phase IIa, double-blinded, placebo-controlled human challenge volunt
Slide 26: Facilities Overview
Facilities Overview QMB Clinic QMB Laboratories 26
Slide 27: Facilities Overview
Facilities Overview Whitechapel Clinic and Screening Centre Plumbers’ Row Corporate Office & Screening Facility Manchester Screening Centre Biobank 27
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