Verici Dx Plc · LSE:VRCI
Verici Dx — Q4 2022 Earnings Presentation
25 slides from Verici Dx's earnings presentation, Jul 11, 2023
Slide 1: Strategic Update
Strategic Update July 2023 Transforming kidney transplant outcomes
Slide 2: Disclaimer
DISCLAIMER This document ("Presentation") has been prepared by Verici DX plc (the "Company"). It has not been verified and is for information purposes only. Where used in this document, Presentation shall mean and include the slides that follow, the oral presentation of the slides by the Company's o
Slide 3: Strategic Update
Strategic Update Sara Barrington, CEO 3
Slide 4: Transformation from an R&D to commercial stage company
Transformation from an R&D to commercial stage company • Strong progress on commercial rollout strategy o Tutivia™ commercially launched o Clarava™ on track for initial commercial launch by the end of this year o Provisional pricing from Medicare of $2,650 for both Tutivia™ and Clarava™ o Opportunit
Slide 5: With consistent progress on key operational milestones
With consistent progress on key operational milestones • Prudent balance sheet management and cash runway extended • Delivered key operational milestones o Company laboratory in Tennessee received CLIA Certification by the Centers for Medicare & Medicaid (‘CMS’) in 46 states and filed in remaining S
Slide 6: Tutivia addressing a real/critical clinical need
Tutivia™ addressing a real/critical clinical need Transitioned from research stage to commercialization “In the first few months post-transplant there are many rejection events and yet in my opinion we have not really had a biomarker that can assist at this critical time. Tutivia™ is able to give th
Slide 7: Clarava effectively identifies patients at increased risk of rejection
Clarava effectively identifies patients at increased risk of rejection in the critical first 60-90 days • Data was statistically significant, with: AUC 72% Sensitivity 78% Specificity 64% Odds ratio 6.2 • High-risk patients c.6 times more likely to have a rejection than low-risk Further analysis to
Slide 8: Overview of FY 2022 Results
Overview of FY 2022 Results David Anderson, CFO 8
Slide 9: Cash Flow Statement Year to December 2022
Cash Flow Statement Year to 31 December 2022 - Audited Comments $’000 • Operating flows: minimal movement in Net outflow from operating activities (10,068) working capital in period, but includes $90k costs of share issue, so underlying Investing activities (1,308) net cash outflow $9,978k Financing
Slide 10: Income Statement Year to December 2022
Income Statement Year to 31 December 2022 - Audited Comments $’000 • Largest items of expenditure: Administrative expenses (10,497) - Wages: $2.9m - R&D: $4.8m Depreciation and amortisation (640) Share based payments charge (318) Interest expense (5) Interest income 53 Loss for the year (11,407) 10
Slide 11: Balance Sheet As of December 2022
Balance Sheet As of 31 December 2022 - Audited Comments $’000 • Tangibles: $823k spent in period on Tangible assets 2,010 CLIA lab Intangible assets 1,970 • Intangible: $1.5m cost of original license Receivables 520 from Renalytix and additional spend on Cash at bank 9,805 licenses and patents Trade
Slide 12: Summary and outlook
Summary and outlook Sara Barrington, CEO 12
Slide 13: Large and growing issue has stimulated disruptive policy shifts
Large and growing issue has stimulated disruptive policy shifts About 300k globally people waiting for transplants • US Executive order 2019 “Advancing American Kidney Health” 100,000 global kidney transplants p.a. • Goal: to double supply of 24,000 US / 25,000 Europe transplants Average cost of tra
Slide 14: End-to-end suite of products have a total addressable market circa $5bn
End-to-end suite of products have a total addressable market circa $5bn over 5 years Pre-Transplant Evaluation Post-transplant Follow-up Addressable market increases with $300 million p.a. underlying growth $450 million p.a. and increased $1.5 bn supply $2.25bn over 5 years over 5 years Assumes 2 te
Slide 15: Vision: An integrated platform yielding rich data asset for innovation
Vision: An integrated platform yielding rich data asset for innovation Data for Research Collaborations AUTO-IMMUNE DISEASES PRE-TRANSPLANT | EARLY-STAGE DAMAGE | LATE-STAGE DAMAGE Kidney Transplant Data-centric approach y y expected to increase o lo g o lo g OTHER ORGANS chn chn the pace of Te In-l
Slide 16: Further significant milestones expected over next 18 months
Further significant milestones expected over next 18 months Milestones Estimate Next Steps Clinical Trial enrollment complete Protega review interim end points Medicare preliminary pricing To be finalized at the end of the year for National price NY/CA CLIA completion Ongoing Submitted waiting for r
Slide 17: With continued recognition through medical publications and presentations
With continued recognition through medical publications and presentations Milestones Estimate Next Steps Tutivia™ Publication Q3 Review comments received Clarava™ Publication Q1 ‘24 Pending Clinical Review Board input Health Economics Publication Q4 Tutivia™ will be first and then followed by Clarav
Slide 18: Strong progress in our transitional year and well positioned
Strong progress in our transitional year and well positioned to continue delivering on our strategy • Focus for rest of 2023 and beyond is on commercial expansion of Tutivia™ and the commercial pathway for Clarava™ • Developing health economics model to support commercialization, aiming to submit fo
Slide 19: Appendix
Appendix • Summary Investment Thesis • Board • Scientific Advisory Board • Market Need and Verci Dx Products 19
Slide 20: Investment Thesis
Investment Thesis Significant Unmet - Unacceptably high rate of transplant rejection (37-50%) with inadequate standard of care Need and Large - Large addressable market opportunity worth over $5bn and growing Market - RNA signature-based transplant technology producing high performing and actionable
Slide 21: Experienced Leadership for developing and commercializing kidney transplants assays
Experienced Leadership for developing and commercializing kidney transplants assays Sir Ian Carruthers Julian Baines Senior Independent Non-executive Chairman Non-executive Director EKF Diagnostics, BBI Chancellor UWE, Snr Director NHS Lorenzo Gallon Erik Lium Independent Non-executive Non-executive
Slide 22: Multinational Science Advisory Board of Key Opinion Leaders
Multinational Science Advisory Board of Key Opinion Leaders Lorenzo Gallon, MD (Chair) • Five (5) past presidents of major Tony Dorling, MD international Transplant organizations Richard Formica, MD (AST, TTS, ASTS) Roslyn Mannon, MD • Current President of American Peter Nickerson, MD Society of Tra
Slide 23: Unparalleled data set for leading competitive advantage
Unparalleled data set for leading competitive advantage Next Generation Sequencing enables data capture on the Patient information samples and CLINICAL patient’s entire transcriptome BIOMARKERS therapeutic dosing information of about 25,000 genes DATA collected on a longitudinal basis Artificial Int
Slide 24: Critical need for personalized diagnostic information
Critical need for personalized diagnostic information What is the risk of Is the graft being rejected rejection? or damaged? Current practice: Current practice: Standard of Care Broad Clinical Factors/Score • Misses 30% of all cases • Too general and Therapeutic Dilemma largely ignored Competitive t
Slide 25: 3 foundational tests, enhanced end-to-end transplant testing
3 foundational tests, enhanced end-to-end transplant testing for improved outcomes Pre-Transplant Prognostic Patients now can Post-Transplant Prognostic mRNA 10 gene Signature be prescribed mRNA 17 gene Signature treatment at an Advantages: Advantages: • Provides risk score for early acute appropria