Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — HY21 Earnings Presentation
30 slides from Imricor Medical Systems's earnings presentation, Aug 26, 2021
Slide 1: HY21 Investor Presentation
For personal use only HY21 Investor Presentation August 2021
Slide 2: Disclaimer
Disclaimer The material contained in this presentation is intended to be general background information on Imricor Medical Systems Inc (“Imricor”) and its activities. For personal use only The information is supplied in summary form and is therefore not necessarily complete. It is not intended that
Slide 3: Presenters
Presenters For personal use only Steve Wedan Lori Milbrandt Chair & CEO Chief Financial Officer • Mr Wedan is the Chief Executive Officer and Co-Founder of • Ms Milbrandt has served as the Company’s Chief Financial Imricor Officer since 2007, initially on a contract basis and since May • Mr Wedan ha
Slide 4: Agenda
Agenda For personal use only Key Achievements 5 Business Update 8 Financial Performance 12 Market Opportunity 16 Summary & Outlook 19 Appendices 22 4 Imricor HY21 Investor Presentation, August 2021
Slide 5: Key achievements since IPO
Key achievements since IPO For personal use only • First commercialisation contract signed in • Awarded National Institutes of Health • Re-commence site expansion as COVID restrictions ease Netherlands with the Amsterdam University Medical contract • Commercial release of diagnostic catheter Centre
Slide 6: Delivering on our Strategic Plan
Delivering on our Strategic Plan For personal use only Grow Installed Base More sites 1 to do procedures Expand geographies More procedures 2 per site Expand indications Higher ASP and 3 margin improvement New product development 6 Imricor HY21 Investor Presentation, August 2021
Slide 7: Key initiatives to support our Strategy
Key initiatives to support our Strategy Regulatory Approval For personal use only Site Expansion Hospital Engagement Strategic Partnerships Europe Grow Installed Base Grow sales & Growing exposure Engagement with Key Manufacturing marketing through conferences / Opinion Leaders opportunities journal
Slide 8: Business Update
Business Update For personal use only 8 Imricor HY21 Investor Presentation, August 2021
Slide 9: 1H21 Highlights
1H21 Highlights Setting strong foundations and positioned for growth For personal use only • Contracted 1 new site and significantly grew the pipeline of potential new sites • Appointed Regional Health Care Group (RHCG) in Australia to help facilitate TGA approval • Received TGA approval on Imricor’
Slide 10: Heart Rhythm 2021
Heart Rhythm 2021 For personal use only • Attended and presented at Heart Rhythm 2021 • Held by the Heart Rhythm Society (HRS), participation in the conference enabled Imricor to further grow awareness by engaging with key opinion leaders throughout the conference schedule. • First in-person electro
Slide 11: Partnering to drive growth in clinical sites
Partnering to drive growth in clinical sites Imricor has entered into a number of agreements that promote future iCMR site adoption For personal use only • Non-exclusive collaborative sales • Executed a master purchase agreement • Entered a sales collaboration, to facilitate • Entered a Supply and S
Slide 12: Financial Performance
Financial Performance For personal use only 12 Imricor HY21 Investor Presentation, August 2021
Slide 13: Profit and loss
Profit and loss For personal use only US$’000 HY21 HY20 Commentary Revenue 366 277 • Operational expenses increased in 2021 due primarily to Operational expenses (5,249) (3,100) additional staffing ($1,099k), inventory reserves ($407k) R&D expenses (4,475) (2,290) and D&O insurance ($280k) Other exp
Slide 14: Balance sheet
Balance sheet US$’000 (31 December) Jun-21 Dec-20 Commentary For personal use only Cash and cash equivalents 15,607 25,140 Accounts receivable 252 223 • Generally, most asset and balance sheet accounts are Inventory 2,823 3,070 consistent with 31 December, which the exception of cash Other current a
Slide 15: Cashflow
Cashflow US$’000 HY21 HY20 Commentary For personal use only Net loss (9,962) (5,798) • Other non-cash adjustments are primarily related to an Other non-cash adjustments 1,328 858 increase in inventory reserves, deprecation and stock- Change in other assets and liabilities (322) (798) related compens
Slide 16: Market opportunity
Market opportunity For personal use only 16 Imricor HY21 Investor Presentation, August 2021
Slide 17: A strong and growing market in cardiac ablation
A strong and growing market in cardiac ablation A large global addressable market with high growth potential supported by favourable growth drivers For personal use only Drivers of Global Catheter Ablation Market Breakdown of Ablation Procedures Ablation Procedure Types EU 2019 Ventricular Tachycard
Slide 18: Site expansion plans underpinned by strong pipeline
Site expansion plans underpinned by strong pipeline Pipeline to re-launch as COVID-19 effects diminish For personal use only Rhön Clinic Bad Dresden Heart Neustadt Münster University Hospital, Centre, Germany Campus, Germany Germany Maastricht University Haga Hospital, Helios Hospital Berlin-Buch, M
Slide 19: Summary & Outlook
Summary & Outlook For personal use only 19 Imricor HY21 Investor Presentation, August 2021
Slide 20: Our focus for the year ahead
Our focus for the year ahead Focused on managing the recovery from the effects of the COVID-19 pandemic For personal use only Commercialisation • Steady re-launch of site expansion in the second half of 2021 • Increased utilisation of the Philips sales force to drive the pipeline of iCMR labs • Ongo
Slide 21: Q&A
Q&A For personal use only 21 Imricor HY21 Investor Presentation, August 2021
Slide 22: Appendices
Appendices For personal use only 22 Imricor HY21 Investor Presentation, August 2021
Slide 23: An overview of Imricor
An overview of Imricor For personal use only Large addressable market, growing The world’s first commercially available to over $6bn1 by 2024, with MRI compatible catheter ablation devices favourable market drivers Strong IP portfolio and Experienced medical device patent protection management team
Slide 24: Heart arrythmias and conventional treatment options
Heart arrythmias and conventional treatment options In the absence of MRI-compatible catheter ablation devices, physicians have been unable to take advantage of the potential benefits related to MRI guided ablation procedures for treating arrhythmias For personal use only Arrhythmias Conventional Tr
Slide 25: The problems we are trying to solve through MRI guided ablation procedures
The problems we are trying to solve through MRI guided ablation procedures only Procedure Procedure Visualisation Cost Safety effectiveness time use Existing Challenges • X-ray imaging provides • Inability to determine • Repeat procedures can • Conventional 3D mapping • Patient and doctor poor heart
Slide 26: Key drivers of Imricor's growth
Key drivers of Imricor’s growth Imricor’s strategy is focused on the two drivers that are key to revenue growth – the number of iCMR labs For personal use only and the number of procedures performed using Imricor’s consumables in each lab Capital Equipment Consumables Other (One-off sale) (Ongoing s
Slide 27: A phased approach to Geographic Expansion
A phased approach to Geographic Expansion Europe For personal use only CE mark received We have established sales force targeting key geographies Remain on track to targeting a clinical trial for VT Ablations in late 2021 – early 2022 Helios Hospital Berlin-Buch United States FDA strategy well advan
Slide 28: Driving growth through expanding indications
Driving growth through expanding indications Priority target is Ventricular Tachycardia (VT) driven by growing procedure rates and high value of iCMR for VT For personal use only 1 Ventricular Tachycardia • Ablation in the left and right ventricles • Often uses transseptal puncture kit (in Imricor p
Slide 29: Pipeline growth supported by early clinical success
Pipeline growth supported by early clinical success Early clinical success and excellent physician feedback is driving growing interest in Imricor’s products and the opportunity to establish a new standard of care in the treatment of heart arrythmias, with particular focus on For personal use only e
Slide 30: Contact information
Contact information For personal use only Investors: Investors & Australian Media: Steve Wedan Brett Ward Executive Chair, President & CEO Cato & Clive Email: steve.wedan@imricor.com Email: brett@catoandclive.com Rest of World Media: Investors (Australia): Nick Twohy Aisha Jabeen Director of Marketi