Anteris Technologies Global Corp. · NASDAQ:AVR
Anteris Technologies Global — Shareholder Meeting (May 2022)
83 slides from Anteris Technologies Global's shareholder meeting presentation, May 25, 2022
Slide 1: ASX Announcement: AGM Chairman's Address and CEO Presentation
ASX ANNOUNCEMENT 25 May 2022 For personal use only ANNUAL GENERAL MEETING CHAIRMAN’S ADRESS AND CHIEF EXECUTIVE OFFICER PRESENTATION SYDNEY, 25 May 2022: Anteris Technologies Ltd (ASX: AVR) is pleased to provide the attached Chairman’s Address and Chief Executive Officer Presentation to the Annual G
Slide 2: Address by the Chairman Mr John Seaberg
Address by the Chairman Mr John Seaberg Thank you from me personally and on behalf of the rest of the Board for allowing us to serve as Directors of your company. The company today looks much different than it did years ago when Wayne and I joined the Board. In that regard, a business mentor of mine
Slide 3: Anteris 2021 AGM CEO Presentation
For personal use only ANTERIS 2021 AGM CEO PRESENTATION May 25th 2022 www.anteristech.com | Follow us @anteristech Copyright Anteris Technologies Ltd 2021
Slide 4: Disclaimer
Disclaimer For personal use only This presentation contains general information which is current as at 25 May 2022. It is information given in summary form and does not purport to be complete. Information in this presentation is not intended to be relied upon as advice to investors or potential inve
Slide 5: For personal use only
For personal use only
Slide 6: Agenda
Agenda For personal use only • Financials • Competitive advantage • First in Human study • Market opportunity • Partnerships • Future revenues • Questions
Slide 7: 2021 A year of headlines
For personal use only 2021 A year of headlines
Slide 8: For personal use only
Ba oor .ce devoted to his queen, dead at 99
Slide 9: For personal use only
PUNTER'S WHO'S OFF LAST STAND THE LIST DETAILS > SPORT 5 ERFUL >Pi8, 19 FROG STRUCK DOWN BY LIGHTNING .. and a few hum ly hit too >>P2 TERRITORY SCHOOL ARDS) PAGE 3 a
Slide 10: For personal use only
For personal use only
Slide 11: Anteris made a few of its own headlines
Anteris made a few of its own headlines For personal use only
Slide 12: Major milestones were achieved in 2021
Major milestones were achieved in 2021 For personal use only AUGUST OCTOBER Close $8.82 Close $8.50 APRIL Extended Manufacturing Key Animal Study for EFS Close $9.85 Agreement (LeMaitre) Submission Completed FEBRUARY JUNE Close $7.11 ComASUR™ Key Milestone Key Partnerships with Close $6.80 IQVIA & C
Slide 13: DurAVR studies progressed rapidly in 2021 from animals to humans
DurAVR™ studies progressed rapidly in 2021 from animals to humans For personal use only Animal lab Dr Hamid performing echo Dr Meduri implanting DurAVR™ being deployed DurAVR™
Slide 14: 2021 Financials
For personal use only 2021 Financials
Slide 15: Financial highlights 2021
Financial highlights 2021 For personal use only 13
Slide 16: Anteris market cap increased by 515% in 2021
Anteris market cap increased by 515% in 2021 For personal use only Key financial metrics FY2020 FY2021 • 10% increase in ADAPT® sales Actual Actual $m $m • Overall increase in expenses primarily reflects increased research and development Sales revenue 7.1 7.8 expenditure relating to the Group’s Tra
Slide 17: Focused investment in R&D has accelerated progress
Focused investment in R&D has accelerated progress For personal use only Research & Development $19.5M Corporate & Operational $3.4M • DurAVRTM valve development program • Capital raising costs • Tblisi first-in-human trials • Company compliance costs • Design of the TAVR delivery system • Insurance
Slide 18: Operational costs remain stable 20/21
Operational costs remain stable 20/21 For personal use only $25.0 M $22.9 M $20.0 M $19.5 M • Corporate + operational costs stable from 2020 to 2021 $15.3 M $15.0 M • R&D costs increased as we $12.2 M entered human studies $10.0 M $5.0 M $0.0 M 2020 2021 Project (TAVR) result Group result 16
Slide 19: Increasing CardioCel production with decreasing costs
Increasing CardioCel™ production with decreasing costs For personal use only 2020: 20,589 units • 77% increase in units • 23% increase in costs 15,644 units 2021: • 32% increase in units • 2% decline in costs 8,850 units 2019 2020 2021 Total costs ($) Units 17
Slide 20: Highly productive workforce
Highly productive workforce For personal use only TOTAL EMPLOYEE NUMBERS DIVERSITY 2021 FEMALE MALE 2020 2019 47% 46% 47% 53% 54% 53% 91 42 44 51 FY 16 Dec 19 Dec 20 Dec 21 18
Slide 21: Increased cash balance from equity and non dilutive sources
Increased cash balance from equity and non dilutive sources For personal use only $40.0 M Perceptive investment $30.0 M LeMaitre sale of distribution rights $20.0 M Exercise of Rights unlisted options issue $10.0 M $0.0 M Mar-18 Sep-18 Mar-19 Sep-19 Mar-20 Sep-20 Mar-21 Sep-21 Mar-22 Cash (including
Slide 22: Increasing share price and company valuation
Increasing share price and company valuation For personal use only $250 M $17.00 $18.00 $15.96 $16.00 $12.96 $230.8 M $200 M $217.4 M $14.00 $12.00 $150 M $10.00 $10.00 $143.8 M $6.80 $8.00 $100 M $6.20 $6.00 $4.90 $6.00 $3.75 $4.00 $50 M $59.1 M $47.2 M $36.6 M $2.00 $35.4 M $29.0 M $23.4 M $0 M $0
Slide 23: AVR has returned 141% since the CardioCel divestiture
AVR has returned 141% since the CardioCel™ divestiture For personal use only • The S&P/ASX Emerging Companies Index (XEC) is a benchmark consisting of 200 Australian microcap AVR return XEC return companies ranked anywhere between 350 to 600 by market capitalisation Rolling 12 months 84% 17% • The b
Slide 24: AVR has out performed all major health care indices
AVR has out performed all major health care indices For personal use only 160% Rolling 12 months 140% AVR May 2022 120% S&P/ASX Emerging Companies 100% 80% Stoxx Europe 600 Health Care 60% S&P Composite 1500 Health Care 40% 20% Dow Jones US Medical Equipment Index 0% NASDAQ Health -20% Care Index -4
Slide 25: AVR outperformed major competitors
AVR outperformed major competitors For personal use only Share price movement (8 April – 9 May 2022) 10% Anteris 5% Boston Scientific 0% -5% -10% Medtronic -15% Edwards Lifesciences -20% -25%
Slide 26: Top investors hold 61% of the Company
Top 40 investors hold 61% of the Company OWNERSHIP COUNTRY For personal use only SHAREHOLDER MIX AUSTRALIA 68% L1 CAPITAL SIO CAPITAL 8% 9% OTHER 1% OTHER TOP 40 NEW 30% ZEALAND UNITED PERCEPTIVE 4% STATES LIFE 27% SCIENCES 14% 70% INVESTOR TYPE HISTORY 60% 50% March 2021 40% 30% May 2022 20% OTHER
Slide 27: Financials only tell part of the story
For personal use only Financials only tell part of the story
Slide 28: How do we compare?
For personal use only How do we compare ?
Slide 29: What is our competitive advantage?
For personal use only What is our competitive advantage ?
Slide 30: ADAPT + DurAVR + ComASUR
For personal use only ADAPT® + DurAVR™ + ComASUR™ For lifetime management of Aortic Stenosis patients www.anteristech.com | Follow us @anteristech Copyright Anteris Technologies Ltd 2021
Slide 31: For personal use only
For personal use only
Slide 32: ADAPT the best anti calcification treatment in the world
ADAPT® the best anti calcification treatment in the world For personal use only 1. Data on file, Admedus 2. Data on File, Admedus; AGRF DNA Extraction Reports (CAGRF16022 and CAGRF 15684), 2017 3. Neethling et al. Enhanced biostability and biocompatibility of decellularized bovine pericardium, cross
Slide 33: For personal use only
For personal use only
Slide 34: Aortic stenosis is a disease of calcification
For personal use only Aortic stenosis is a disease of calcification Calcium deposits cause a narrowing of the valve opening and an increase in pressure Calcium build up in valve with stenosis
Slide 35: DurAVR – the first and only 3D single piece TAVR valve in the world
DurAVR™ – the first and only 3D single piece TAVR valve in the world For personal use only • Designed to be anatomically correct Lasts Longer • Restores pre disease haemodynamics Works Better • Has greater structural integrity • Opens wider (80%)
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For personal use only
Slide 37: Younger patients need new solutions that Last Longer and Works Better
Younger patients need new solutions that Last Longer and Works Better For personal use only Younger patients need longer lasting next generation valve technology Younger Patient Age Key Considerations patients now eligible Valves now What Does Life Guidelines need to last Expectancy TAVR as class(I)
Slide 38: ComASUR Delivery System
ComASUR™ Delivery System For personal use only
Slide 39: For personal use only
For personal use only
Slide 40: Severe aortic stenosis requires the aortic valve to be replaced
Severe aortic stenosis requires the aortic valve to be replaced For personal use only SAVR (Surgical Aortic Valve TAVR (Transcatheter Aortic Replacement) Valve Replacement)
Slide 41: Current TAVR devices
Current TAVR devices Todays TAVR’s need to address 4 key medical needs For personal use only Current products fall short in two critical areas Predictable Optimal Low Incidence of Procedure Hemodynamic Durability Complications Performance Competitor products can start Competitor products leave the t
Slide 42: DurAVR THV satisfies all key areas
Current TAVR devices DurAVR™ THV satisfies all 4 key areas For personal use only ComASUR™ delivery system is Better haemodynamics at rest DurAVR’s™ 3D uni-body design has greater more predictable with and during increased cardiac structural integrity + ADAPT® anti commissural alignment output (exerc
Slide 43: For personal use only
For personal use only
Slide 44: Current TAVR products were not designed for younger patients
Current TAVR products were not designed for younger patients For personal use only 1st Generation TAVR’s designed to solve a different problem to today’s patients needs “Patient needs a valve that restores an active Patient needs a safe alternative to lifestyle for the rest of their life” open heart
Slide 45: Skate to where the puck is going
"Skate to where the puck is going not where it has been." — Wayne Gretzky For personal use
Slide 46: Before the breakthrough comes the trial
For personal use only HUMAN BEFORE THE BREAKTHROUGH COMES THE TRIAL
Slide 47: For personal use only
For personal use only
Slide 48: DurAVR First-in-Human Study: Individual Patient Case Example
DurAVR™ First-in-Human Study: Individual Patient Case Example For personal use only FIH 30-day DurAVR™ haemodynamics: • Area Derived Annulus Size 21.3mm • EOA = 2.02 cm2 • DVI = 0.66 • Intra-op Coaptation length = 10.3 mm EOA compared to annulus size matched benchmark*: • Sapien 3 = 1.41 cm2 +/- 0.2
Slide 49: ComASUR A unique Physician designed delivery system
ComASUR™ A unique Physician designed delivery system For personal use only Easy and Predictable Commissural Alignment • Intuitive handle design • Precise balloon expandable deployment • Unique ability to rotate valve at annular level for consistent, predictable commissural alignment
Slide 50: Near perfect laminar flow, unique in the valve space
Near perfect laminar flow, unique in the valve space For personal use only Poor laminar flow observed in other products leads to early valve deterioration. == == DurAVR™ has perfect laminar flow!
Slide 51: We were successful in the most challenging patient group
We were successful in the most challenging patient group For personal use only Severe Annular Calcium Extreme Leaflet Calcium Type 1 Bicuspid
Slide 52: DurAVR First-in-Human Study Challenging Anatomical Conditions Treated
DurAVR™ First-in-Human Study Challenging Anatomical Conditions Treated For personal use only Severe Annular Extreme Leaflet Calcium Calcium Type 1 Bicuspid Baseline CTs
Slide 53: DurAVR - Commissural alignment
For personal use only DurAVR™ - Commissural alignment Excellent Commissural Alignment & Leaflet Function 30-day CT
Slide 54: DurAVR Different to the competitors by design
DurAVR™ Different to the competitors by design For personal use only Unique Design of a Single Piece of Tissue 3D Molded to Mimic the Native Aortic Valve Anatomy • Designed in diastole (closed position) • Opens wider with less pressure • Remains open longer with the purpose of CURRENT VALVES improvi
Slide 55: DurAVR THV: Outperforms the competitors in every regard
DurAVR™ THV: Outperforms the competitors in every regard For personal use only DurAVR™ Computational Fluid Model* Diastole Systole Coaptation Modeling* • 85% greater coaptation area** • 35% lower leaflet strain** • Optimal laminar flow* *Data on file, Anteris **Lim KH et al., Flat or Curved Pericard
Slide 56: DurAVR 3D Single Piece THV with ADAPT
DurAVR™ 3D Single Piece THV with ADAPT® For personal use only Exercise Capacity Durability Future Management Valve that restores near-normal haemodynamics Valve that lasts the lifetime of the patient Valve that allows for future intervention PROVEN TISSUE DURABILTY Superior anti-calcification tissue
Slide 57: For personal use only
For personal use only id people y wanted, nave said er horse - Henry Ford
Slide 58: In the end its all about patients
For personal use only In the end its all about patients
Slide 59: Next cohort of patients being implanted now
For personal use only Next cohort of patients being implanted now !
Slide 60: Tbilisi, Georgia first-in-human
i ANTERIS TECHNOLOGIES A Structural Heart Company TBILISI, GEORGIA, 25/5/22. FIH. For personal use only
Slide 61: Market opportunity
For personal use only Market opportunity
Slide 62: AVR Market Growth
AVR Market For personal use only Growth • USD 14 billion by 2028 • US CAGR 12% • US 42% of the market in 2021 • 75% of AVR will be TAVR by 2028
Slide 63: The Global TAVR market will continue to show strong growth
The Global TAVR market will continue to show strong growth into the future For personal use only TAVR PROCEDURES 2020 -2028 TAVR REVENUE 2020 -2028 US OUS US OUS CAGR US 11.4% CAGR OUS 9% USD Billions 242 229 $9 215 $9 202 $8 190 $8 174 $7 $7 154 $6 134 $5 118 $4 165.73 174.78 145.9147 155.7 $5 122.
Slide 64: TAVR/SAVR Regional Market share
TAVR/SAVR Regional Market share For personal use only 2021 TAVR/Surgical Aortic TAVR Procedures by Stenosis Procedures EU TAVR Market Share 2021 Regions 2% 6% 225445, 42% 4% 10% 9% Edwards 43% Medtronic Edwards Boston Abbott Others 45% 39% Medtronic TAVR EU 305580, 58% Surgery US US TAVR Market Shar
Slide 65: 2021 TAVR Market Share US EU
2021 TAVR Market Share US EU For personal use only US Market TAVR Share 2021 EU TAVR Market Share 2021 5% 2% 6% 10% 31% 43% 64% 39% Edwards Medtronic Boston Abbott Others Edwards Medtronic Abbott
Slide 66: 2021 to 2028 TAVR vs Surgical Procedures: US
2021 to 2028 TAVR vs Surgical Procedures: US For personal use only 2028 US TAVR/Surgical Aortic Stenosis Procedures 2021 US TAVR/Surgical Aortic Stenosis Procedures 56404, 24% 81079, 47% 90960, 53% 174780, 76% TAVR Total Surgical (no TAVR) TAVR Total Surgical (no TAVR)
Slide 67: 2021 Global Procedures vs Revenue
2021 Global Procedures vs Revenue For personal use only Global 2021 TAVR Surgical Aortic Stenosis Procedures Global 2021 TAVR Surgical Revenue US$ 1,124,450,988.13 , 18% 225445, 42% 305580, 58% 5,241,724,662.90 , 82% TAVR Total Surgical (no TAVR) TAVR Total (excl TAVR)
Slide 68: Key Partnerships
For personal use only Key Partnerships • Anteris has entered key Academic partnerships with the following: • Yale University • Columbia University • UWA
Slide 69: Partnerships for next generation valve materials
We are also engaged in partnerships for next generation valve materials For personal use only • Currently Anteris is actively researching two distinct technologies that will allow us to replicate the design benefits of the DurAVR™ valve in new materials The company has entered multiple partnerships
Slide 70: Future Revenues
For personal use only Future Revenues
Slide 71: First TAVR revenues in 2023
First TAVR revenues in 2023 For personal use only • Anteris TAVR studies will potentially qualify as a Category B study • Anteris will commence supplying product during its FDA studies at approx USD25k per unit • First TAVR revenues will commence in 2023
Slide 72: Key presentations
For personal use only • Key presentations
Slide 73: DurAVR will be featured at key medical conferences in 2022
DurAVR™ will be featured at key medical conferences in 2022 For personal use only Q1 Q2 Q3 Q4 Feb 26-Mar 1 May 17-20 June 8-11 Sep 16-20 Nov 27-29 Washington DC Pairs Chicago Boston London 2022 JAN Feb MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Podium: Podium: Podium: Podium: Podium: Innovation PCR Inn
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For personal use only
Slide 75: Questions
Questions For personal use only • Market valuation • When can we start selling DurAVR™ • Nasdaq listing progress/structure • Development milestones • FIH TAVR • SAVR study • EFS FDA study • R&D Further developments
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For personal use only
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For personal use only
Slide 78: Board of Directors
Board of Directors For personal use only John Seaberg Wayne Paterson Stephen Denaro Wenyi Gu Director and Chair Director and Director and Director Chief Executive Officer Company Secretary 76
Slide 79: Executive Team
Executive Team For personal use only David St. Denis Matthew McDonnell Christopher Meduri Chief Operating Officer Chief Financial Officer Chief Medical Officer 77
Slide 80: Anteris is supported by highly qualified advisors
Anteris is supported by highly qualified advisors For personal use only Bernard Prendergast, MD Samir Kapadia, MD Gorav Ailawadi, MD Guy’s & St. Thomas’ Michael Reardon, MD Karl Poon, MBBS Jayme Bennetts, BMBS Cleveland Clinic Univ of Virginia Charlottesville, VA Nicolas Van Mieghem, MD London, UK (
Slide 81: Anteris has a highly talented and engaged team
Anteris has a highly talented and engaged team For personal use only
Slide 82: A great team in the right locations
A great team in the right locations Exceptional individuals doing exceptional things For personal use only USA Europe APAC Innovation Centre & Corporate HQ (Minneapolis, USA) Biologics Manufacturing / R&D Strategic Hub in Europe (Malaga, Australia) (Geneva, Switzerland) Finance & IT Team (Brisbane,
Slide 83: Lasts Longer, Works Better
For personal use only Lasts Longer, Works Better
Anteris Technologies — Shareholder Meeting (May 2022) on 6ix