Avita Medical, Inc. · NASDAQ:RCEL
Avita Medical — Shareholder Meeting (December 2022)
48 slides from Avita Medical's shareholder meeting presentation, Dec 12, 2022
Slide 1: Annual Meeting of Stockholders
For personal use only Annual Meeting of Stockholders DECEMBER 12, 2022 (PST) / DECEMBER 13, 2022 (AEDT) NASDAQ: RCEL ASX: AVH ©Copyright 2021 AVITA Medical. All Rights Reserved.
Slide 2: Call To Order
Call To Order For personal use only Mr. Lou Panaccio, Chairman of the Board of AVITA Medical, Inc. 2
Slide 3: Welcome: Brief Company Overview
Welcome For personal use only Brief Company Overview 3
Slide 4: Experiencing Technical Difficulties?
Experiencing Technical Difficulties? For personal use only In the U.S. please call toll free: Outside the U.S. please call: +1 (888) 724-2416 +1 (781) 575-2748 4
Slide 5: Procedural Matters Following Introduction of Directors, Officers, and Advisers
For personal use only Procedural Matters Following Introduction of Directors, Officers, and Advisers
Slide 6: Representatives Present Today
Representatives Present Today For personal use only Board of Directors Officers Advisers Louis (Lou) Panaccio Michael Holder Chris Cunningham Chair of the Board of Directors Chief Financial Officer U.S. Legal Adviser – Partner, K&L Gates LLP Chair of Today’s Meeting Donna Shiroma David Morris James
Slide 7: Introduction of Independent Registered Public Accounting Firm
For personal use only Introduction of Independent Registered Public Accounting Firm Grant Thornton, LLP Represented by Mark Bottom
Slide 8: Appointment of Inspector of Election
For personal use only Appointment of Inspector of Election Chairman to appoint Ashleigh Schultz, Computershare US
Slide 9: Report By Secretary Of Mailing
For personal use only Report By Secretary Of Mailing Notice of Meeting
Slide 10: Presentation Of List Of Stockholders
For personal use only Presentation Of List Of Stockholders As Of Record Date Available upon request
Slide 11: Report Of Quorum
For personal use only Report Of Quorum Attendance at this meeting for a quorum
Slide 12: Opening of the Polls and Overview of Voting Proposals
Opening of the Polls and Overview of Voting Proposals For personal use only • Polls for voting on all matters are open • Proposals – The Board of Directors recommend a vote FOR all of the nominees listed in Proposal 1, and a vote FOR Proposals 2-9 12
Slide 13: Election of Directors and Approval of Additional Matters
For personal use only Election of Directors and Approval of Additional Matters
Slide 14: Proposal 1: Election of Directors
Proposal 1: Election of Directors For personal use only To elect five directors to serve a one-year term or until their respective successors have been duly elected and qualified. 1. Louis Panaccio, Chairman of the Board of Directors 2. James Corbett, Executive Director and Chief Executive Officer 3
Slide 15: Proposal 2: Ratify Grant Thornton
Proposal 2: For personal use only To ratify the appointment of Grant Thornton, LLP as the Company’s independent public accountants for the fiscal year ending December 31, 2022. 15
Slide 16: Proposal 3: Reduce Quorum Requirement
Proposal 3: For personal use only To amend the Company’s Certificate of Incorporation and Amended and Restated Bylaws to reduce the quorum requirement for stockholder meetings. 16
Slide 17: Proposal 4: Grant to Mr. Louis Panaccio
Proposal 4: For personal use only To approve the grant of restricted stock units to acquire shares of common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 18: Proposal 5: Grant to Professor Suzanne Crowe
Proposal 5: For personal use only To approve the grant of restricted stock units to acquire shares of common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 19: Proposal 6: Grant to Mr. Jeremy Curnock Cook
Proposal 6: For personal use only To approve the grant of restricted stock units to acquire shares of common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 20: Proposal 7: Grant to Ms. Jan Stern Reed
Proposal 7: For personal use only To approve the grant of restricted stock units to acquire shares of common stock of the Company (which may be represented by CDIs) equal in value to US$87,500 (at the time of the grant) and the grant of options to acquire shares of common stock of the Company (which
Slide 21: Proposal 8: Grant to Mr. James Corbett
Proposal 8: For personal use only To approve the grant of options to acquire shares of common stock of the Company (which may be represented by CDIs) equal in value to US$1,000,000 (at the time of the grant) to Mr. James Corbett on the terms and conditions set out in this Proxy Statement, pursuant t
Slide 22: Proposal 9: Advisory Vote on Executive Compensation
Proposal 9: For personal use only Advisory vote to approve the compensation of the Company’s named executive officers. 22
Slide 23: Proposal 10: Other Business
Proposal 10: For personal use only • To transact such other business as may properly come before the meeting or any adjournment or adjournments thereof. • No other business has come before the meeting to be considered at this time. 23
Slide 24: Closing of Polls
For personal use only Closing of Polls The polls are about to close so if you have not yet voted, please do so. We will announce the results of the voting as soon as possible following the close of this meeting via announcements to be filed with the U.S. Securities and Exchange Commission and the Au
Slide 25: Adjournment of Meeting and General Question and Answer Period
For personal use only Adjournment of Meeting and General Question and Answer Period The formal business of the meeting is now closed. We invite you to now ask any questions you may have as it relates to the content of today’s meeting. Please follow the instructions provided on the Virtual Meeting Sc
Slide 26: Conclusion of Annual Meeting of Stockholders
For personal use only Conclusion of Annual Meeting of Stockholders
Slide 27: Thank you!
For personal use only Thank you!
Slide 28: For personal use only
For personal use only Company Update NASDAQ: RCEL ASX: AVH ©Copyright 2022 AVITA Medical. All Rights Reserved.
Slide 29: Legal Disclaimers
Legal Disclaimers For personal use only Certain statements in this presentation and the accompanying oral commentary are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this
Slide 30: Who is AVITA Medical?
Who is AVITA Medical? For personal use only Regenerative medicine company transforming the standard of care for skin restoration with its innovative cellular technology platform, the RECELL® System RECELL System includes autologous cell harvesting device that prepares, produces, and delivers regener
Slide 31: One Platform. Multiple Indications.
One Platform. Multiple Indications. For personal use only U.S. 2022 2023 2024 2025 INDICATION Outpatient Code BURNS Ease of Use Device (Approved) Japan: Approval, Reimbursement, Launch Automated Device Automated Device Submission: Q3 Approval: Q1 FDA Approval: June SOFT TISSUE FDA Submission: (Expec
Slide 32: Thermal Burns: U.S. Market Expanded to Include Small Burns and Outpatient
Thermal Burns: U.S. Market Expanded to Include Small Burns and Outpatient For personal use only Patient Funnel and Addressable Market ~486K Total Annual Burns in the U.S. PATIENTS >$600 Million TAM ~80K Severe Burns (as defined as burns > 5% Body Surface Area that may require grafting) PATIENTS ~25K
Slide 33: Year in Review: Continued Growth and Expansion
Year in Review: Continued Growth and Expansion For personal use only 2022 Recent Accomplishments Strong U.S. RECELL • Commercial Revenue Growth: Commercial Growth • Third quarter 2022: +30% same quarter prior year 10,000 • Guiding revenue to $33-34 million 9,000 • New RECELL Device: 8,000 • FDA appr
Slide 34: 2023: A Year of Inflection
2023: A Year of Inflection Total Addressable Market For personal use only Expecting FDA approvals for two indications: Soft Tissue Repair and Vitiligo Soft Tissue Repair: launching in July 2023; 3x market expansion will fuel revenue growth $0.6B Burns $ 5.2B Vitiligo: building case for in-offi
Slide 35: RECELL's Perceived Advantages Vary Depending on Wound Type
RECELL’s Perceived Advantages Vary Depending on Wound Type For personal use only New Trauma Surgeons Intent to Use in Intent to Use Wounds <5% 70% Fasciotomy & Degloving Extremely Likely Necrotizing Skin Infection 60% 50% 40% Flap Donor Site / Abrasion Neutral 30% Crush 20% 10% Amputation Traumatic
Slide 36: Soft Tissue Repair Opportunity
Soft Tissue Repair Opportunity Female, pregnant 28-year-old who For personal use only suffered from a de-gloving injury OPPORTUNITY ESTIMATION Total Open Wound ER Visits in >4.5M the U.S.1 POST DEBRIDEMENT OF INJURY RECELL Eligible Soft Tissue >110K Wounds2 Wounds With a High Perceived >95K RECELL B
Slide 37: Overlap of Burns and Soft Tissue Repair
Overlap of Burns and Soft Tissue Repair Existing Burns Market Broadened by Soft Tissue Repair For personal use only Sales Team Will Target a Total of >1,000 Centers 75% of Targeted 78% of Targeted Procedures Procedures SOFT TISSUE BURNS MARKET MARKET >300 Surgeons ~150 Burn Level 1 & 2 Trauma >1,000
Slide 38: Synergies of Burns and Soft Tissue Repair
Synergies of Burns and Soft Tissue Repair For personal use only • 50% of Burns centers co-located with level 1 and level 2 trauma centers • 25% of Burns are treated in level 1 and level 2 trauma centers, which are not co-located with burn centers; thus not covered by current sales team • Soft Tissue
Slide 39: Vitiligo Indication on Track for FDA Submission
Vitiligo Indication on Track for FDA Submission For personal use only Primary Endpoint Effectiveness Data Proportion of study sites achieving Study achieved its primary effectiveness ≥80% re-pigmentation for RECELL- endpoint of super-superiority treated sites vs Control at Week 24 A • Super-superior
Slide 40: Vitiligo Opportunity
Vitiligo Opportunity OPPORTUNITY ESTIMATION First-in-class re-pigmentation For personal use only transplantation of melanocytes Prevalence of Adult Vitiligo in the U.S. ~2.2M Patient from a prior study at six-months RECELL-treated area was 100% re-pigmented Stable Vitiligo Patients ~1.3M Surgically
Slide 41: Vitiligo Strategy
Vitiligo Strategy For personal use only Vitiligo Market Five Times the Size of Combined Burns and Soft Tissue Repair • Expect FDA approval in July 2023 • Proposed RECELL indication represents first-in-class re-pigmentation transplantation of melanocytes • Plans for 2023 – 2024: • Build podium presen
Slide 42: Growth Enabler: Automated Device for All Indications
Growth Enabler: Automated Device for All Indications For personal use only KEY UPDATES • New RECELL Automated Device in development for Soft Tissue Repair / Burns (automated device for Vitiligo to follow): • FDA Submission expected in Q3 2023 • FDA Approval expected in Q1 2024 • Protected by issued
Slide 43: Summary
Summary Burns For personal use only • Core Burn centers will continue to penetrate, adopt and grow • Burns utilization will expand, accessing 25% of market not currently called on by AVITA Medical Burns sales team • Strong healthcare economics drive in-patient adoption; TPTC broadens coverage Soft T
Slide 44: Contact Information
Contact Information For personal use only Please contact investor@avitamedical.com for all questions or concerns. 44
Slide 45: Revolutionary treatment using a patient's own skin
Revolutionary For personal use only treatment using a patient’s own skin for life-changing outcomes Zed, treated with the RECELL® System NASDAQ CM: RCEL ASX: AVH © 2020 . All rights reserved. In the U.S., RECELL is approved for acute thermal burns. Use of RECELL in other indications is either (1) li
Slide 46: Risk Factors and Disclosures
Risk Factors and Disclosures • There are numerous risk factors involved with the Company’s business. Some of these risks can be mitigated by the use of safeguards and appropriate systems and controls, but some For personal use only are outside the control of the Company and cannot be mitigated. Acco
Slide 47: Important Safety Information
Important Safety Information For personal use only • INDICATIONS FOR USE: The RECELL® Autologous Cell Harvesting Device is indicated for the treatment of acute thermal burn wounds. The RECELL device is used by an appropriately-licensed healthcare professional at the patient’s point of care to prepar
Slide 48: This concludes the meeting. Thank you for your attendance.
For personal use only This concludes the Company Update. Thank you for your attendance.