AngioDynamics, Inc. · NASDAQ:ANGO
AngioDynamics — Investor Day (July 2021)
60 slides from AngioDynamics's investor day presentation, July 2021
Slide 1: Investor & Technology Day July 2021
INVESTOR & TECHNOLOGY DAY JULY 2021 1
Slide 2: Agenda
AGENDA 9:30 – 10:50 AM ET | BUSINESS PRESENTATIONS ANGIODYNAMICS OVERVIEW GROWTH STRATEGY & TECHNOLOGY OVERVIEW KEY TECHNOLOGY PLATFORM OVERVIEW THROMBUS MANAGEMENT – ANGIOVAC & ALPHAVAC PERIPHERAL ATHERECTOMY – AURYON IRREVERSIBLE ELECTROPORATION – NANOKNIFE VASCULAR ACCESS AND MED DEVICES GLOBAL H
Slide 3: Notice Regarding Forward-Looking Statements
Notice Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics’ expected future financial position, results of operations, cash flows, business strate
Slide 4: Disclaimers
Disclaimers: This presentation includes videos of key opinion leaders, who are paid consultants of AngioDynamics. The views and opinions expressed by these key opinion leaders are their own and do not necessarily reflect the views and opinions of AngioDynamics. The FDA-approved/cleared labeling for
Slide 5: 33 years in Catheter Valley
AngioDynamics has a rich history that is deeply rooted in upstate New York’s region known as “Catheter Valley.” The Company has grown through its many 33 phases to become a global, industry-leading provider of high-quality medical technology used by physicians for the treatment of cancer and periphe
Slide 6: Strategic Transformation
STRATEGIC TRANSFORMATION PURSUE LARGER, FASTER GROWING MARKETS Active portfolio management enables us to compete in larger, faster growing markets relying on technology & innovation to produce measurable patient outcomes DEPLOY FOCUSED RESOURCE DEVELOPMENT Resource deployment focused in areas that o
Slide 7: Med Tech and Med Device
MED TECH MED DEVICE Invest for Growth Maintain Positioning Thrombus Management Peripheral Atherectomy Irreversible Electroporation AlphaVac commercial launch planned for 4th quarter calendar year 2021. 7
Slide 8: Three main drivers to carve out our space
Focus on Innovative Advancing Our Medical Technologies Transformation Leveraging three main drivers to R&D carve out our space in large, growing markets through Clinical & Regulatory innovative, disruptive technologies Pathway Expansion that treat patients with cancer, promote healthy blood flow and
Slide 9: Focused Transformation
FOCUSED TRANSFORMATION FY2025 U.S. Total Addressable Markets Planned Thrombectomy & PE portfolio additions & new indications increase market access FY2023 Planned Thrombectomy & NanoKnife System portfolio additions & new FY2021 indications increase market access $8.0B Launch of the Auryon System 3-7
Slide 10: Technology Pipeline
TECHNOLOGY PIPELINE PRODUCT LAUNCHES REGULATORY CLEARANCES REIMBURSEMENT SUPPORT FY22 FY23 FY24 AlphaVac F2220, F22180 Thrombus Management AlphaVac F1885 PE, IDE Approval IDE Study AlphaVac F1885 AngioVac F1885 AlphaVac Lower Extremity (DVT), Smaller Cannula Peripheral Auryon 2.0 Catheter Enhancemen
Slide 11: Thrombus Management
MED TECH THROMBUS MANAGEMENT 11
Slide 12: VTE Represents 390k Cases Annually
VTE Represents 390k Cases Annually Venous Deep Vein Pulmonary Embolism Thromboembolism Thrombosis DVT A blood clot that forms in a deep vein, usually + PE A DVT breaks free from a vein wall and travels to the lungs blocking = VTE some or all of the blood supply DVT and PE are collectively the leg, g
Slide 13: DVT & PE Treatment Options
DVT & PE TREATMENT OPTIONS Percutaneous Thrombectomy Treatment “Type” Spectrum SIMPLE MODERATE COMPLEX Anticoagulation CDT & US-CDT PCMT MA MT Catheter-Directed Thrombolysis Continuous Aspiration Prescription Pharmacomechanical Mechanical Aspiration Mechanical Retrieval Suction Thrombectomy (with or
Slide 14: The AngioVac Difference
AngioVac Cannula The Saline Difference AngioVac The AngioVac System allows for the continuous aspiration Circuit of embolic material such as fresh, soft thrombi or vegetation from the venous system Utilizing a self-expanding, nitinol reinforced funnel tip Filter Simultaneously reinfusing the patient
Slide 15: The Next Generation of AngioVac
THE NEXT GENERATION OF ANGIOVAC Physician requests for use in DVT drive new product development Powerful Proven funnel tip design allows efficient aspiration and THE NEXT PORTFOLIO compression of large clot burden INNOVATION Controlled Designed to allow the end-user command and control of the A purp
Slide 16: Handle Control Features
Handle | Control Features MALE AND FEMALE CONNECTION Ensures correct connection DIRECTIONAL LABELS SYRINGE BARREL Cannula | Waste Bag VOLUME LIMITING SWITCH ANGLED EXIT Intuitive location | Multiple glove sizes Prevents large thrombus clog DURABLE LABELS Visible in low light environments VACUUM LOCK
Slide 17: F1885 Cannula Simple Design, Powerful Features
F1885° Cannula | Simple Design. Powerful Features. Tapered Distal Tip OBTURATOR Lubricious Shaft Material Easy delivery through tortuous anatomy Enhanced navigation and safety Quarter Turn Valve Side Arm Flush Port Radiopaque Tapered Soft Tip Locks tip angle in place Remove air between sheath and ca
Slide 18: Purpose-Built Portfolio to Address Clot Removal
Purpose-Built Portfolio to Address the F2220° Removal of Clot & Thrombus from Neck to Knee F22180° AngioVac & AlphaVac Nomenclature F1885° F22180° Represents the F13 10° NA Represents the Angle/Degree of French Size of our our cannula tip cannula Example F1885 ° PE AlphaVac F1885 and F1310 are not c
Slide 19: Addressable Market
ADDRESSABLE MARKET Deliberate Attention to Key Technology Elements Thrombus Procedures by Location F1885 F22 20 F22 180 F18 85 F13 10 PE PE 167K Patients $1.6B TAM Funnel Tip Right Opening FR 42FR 42FR 33FR ~16FR 33FR Heart/Atrium Size 97K Patients $77M TAM 180º 85º 10º 85º 20º IVC/SVC – Caval DVT C
Slide 20: RAPID Registry
RAPID REGISTRY 20
Slide 21: Registry of AngioVac Procedures in Detail
REGISTRY OF ANGIOVAC PROCEDURES IN DETAIL Objective: To evaluate the patterns of use, safety and effectiveness data of the AngioVac device in bulk removal of endovascular material. Principal Investigator: Dr. John Moriarty, UCLA Number of patients enrolled: 234 Number of sites: 21 Recruitment goal:
Slide 22: RAPID – Target Anatomy
RAPID – TARGET ANATOMY 48.3% • Right Heart Mass: 123 35.9% • Caval thromboembolism*: 91 • Catheter related thrombus: 25 • Pulmonary embolism*: 7 8.5% 1.7% • Combination of above = 5.6 % * Rounding decimals to the nearest whole number Moriarty et al, Endovascular removal of thrombus and right heart m
Slide 23: RAPID – Key Takeaways
RAPID – KEY TAKEAWAYS First large scale Effective: Majority prospective of patients have > multicenter 70% clot/mass assessment of the removed. AngioVac system. Safe: 75% of all cases no RBC transfusion with 6 (2%) major hemorrhage, 1 procedure-related death. 23
Slide 24: PE IDE Study
PE IDE STUDY 24
Slide 25: PE IDE Study: Prospective, Multicenter, Single-arm
PE IDE Study: A Prospective, Multicenter, Single-arm Study Seek FDA clearance for Pulmonary Embolism Indication: Determine the safety and effectiveness of the AlphaVac F1885° in a prospective trial of patients with acute intermediate-risk pulmonary embolism (PE) Patient Enrollment Target: 122 Timeli
Slide 26: Thrombus Management Current and Expanded Portfolio
THROMBUS CURRENT PORTFOLIO COMPLEX MANAGEMENT Right Atrium AngioVac’s use is currently focused on the Right Atrium, which is a $77M addressable market. Purpose Built Portfolio & Technology RIGHT DEEP VEIN THROMBOSIS E X PA N D E D P O R T F O L I O ATRIUM MODERATE $77M2 $1.3B1 Pulmonary AlphaVac, a
Slide 27: Thrombus Management Planned Portfolio Additions
THROMBUS MANAGEMENT Purpose Built, Planned Portfolio Additions & Comprehensive, U.S. Addressable Markets Expansion Thrombus Portfolio $1.3B 2 1 PE Indication (F1885 PE) Continuous Aspiration with Simultaneous Reinfusion (F1310) Access to full Ilio-femoral DVT market F2220 F22180 F1885 1885 PE F1310
Slide 28: Peripheral Atherectomy
MED TECH PERIPHERAL ATHERECTOMY 28
Slide 29: Peripheral Atherectomy Markets & Competitive Landscape
2021 Served Market PERIPHERAL ATHERECTOMY US Addressable Markets & Competitive Landscape MECHANICAL LASER 77%1 23%1 Over 8 Million2 Americans Suffer from PAD Over 150,000 Limbs2 are Lost Every Year because of PAD $600M 50% Mortality Rate2 Associated with PAD after Limb Loss 2. https://www.cookmedica
Slide 30: Auryon System Indication
The Auryon System is indicated for use in the treatment, including atherectomy, of infrainguinal stenoses and occlusions, including in-stent restenosis (ISR)1. 30
Slide 31: Why wavelength and pulse width matter
0.9 mm 1.5 mm Indicated for Peripheral 2.0 mm Indicated for Atherectomy 2.35 mm Aspiration capability and Peripheral indicated for Peripheral Atherectomy Aspiration and Off-Center capabilities and indicated for Atherectomy and ISR Peripheral Atherectomy and In-Stent Restenosis (ISR) The Auryon Syste
Slide 32: The Science of the Auryon System – Solid State Technology
The Science of the Auryon System – Solid State Technology The Auryon System is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.1,6 Competitive 308nm Laser 1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G,
Slide 33: The Science of the Auryon System: Wavelength & Pulse Width
The Science of the Auryon System Wavelength & Pulse Width Competitive 308nm Laser 1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich I, et al. Novel laser-based catheter for peripheral atherectomy: 6-month results from the Eximo Medical B-LaserTM IDE study. Catheter Cardiovasc Inte
Slide 34: References
1. Rundback J, Chandra P, Brodmann M, Weinstock B, Sedillo G, Cawich I, et al. Novel laser-based catheter for peripheral atherectomy: 6-month results from the Eximo Medical B-LaserTM IDE study. Catheter Cardiovasc Interv. 2019;1-8. 2. Shammas NW, Chandra P, Brodmann M, Weinstock 34 B, Sedillo G, Caw
Slide 35: Resiliency in the Face of All Lesions
Resiliency in the Face of ALL Lesions >5,000 FY21 Procedures† The Auryon System can handle it ISR* ATK/BTK Above the Knee 2,617 1,850 Common/Superficial Femoral Artery ATK 52% 767 Popliteal SEVERE 507 Tibio-peroneal Trunk Below the Knee CALCIUM 2,383 945 Anterior Tibial BTK 462 Peroneal Tibial 48% 4
Slide 36: PATHFINDER-I Study Design
PATHFINDER-I Study Design POST MARKET, PROSPECTIVE, MULTICENTER, SINGLE-ARM, ALL-COMERS REGISTRY Primary 104 Patients de novo, High procedural success with challenging lesions, Treatment +/- endpoints: 1) Acute Success: ≤ 30% final RDS Complete six-month including long (by corelab) results are expec
Slide 37: Collaborations with our Physician Partners
Collaborations with our Physician Partners Retrospective Chart Reviews Prospective Investigator Initiated Trials Single Center OBL Single Center iDissection iDissection Experience Experience ATK BTK Multi-site prospective registry 70 55 29 60 Patients Patients Patients Patients Procedural safety ana
Slide 38: Clinically Proven, Safe, Convenient
A revolutionary experience is exactly what AngioDynamics is delivering in the world of interventional devices used to perform peripheral atherectomy for peripheral arterial disease (PAD). The introduction of Auryon may seem like it’s another in a series of options for performing this procedure, but
Slide 39: Technology Endorsed Through Experienced Users and Patient Outcomes
A Compelling Technology Being Endorsed Through Experienced Users and Convincing Patient Outcomes FY21 47 132 5K Auryon Commercial Customers Auryon Representatives Procedures 39
Slide 40: Irreversible Electroporation
MED TECH IRREVERSIBLE ELECTROPORATION 40
Slide 41: Innovation Doctors Need
INNOVATION DOCTORS NEED Expands treatment options and help preserve patient's quality of life DECELLULARIZATION REVASCULARIZATION Destroys targeted tissue Facilitates functional PROBE PLACEMENT with precise treatment NON-THERMAL tissue regeneration margins. 1,2 post-ablation. 3,4 NanoKnife can be Sp
Slide 42: The NanoKnife System Total Addressable Market
THE NANOKNIFE SYSTEM 2021 Total Addressable Market (TAM) Estimated # of U.S. Patients Diagnosed in 20212 LIVER PANCREAS 22%1,2 8%1,2 $1.6B 70%1,2 Liver Pancreas Prostate PROSTATE 42,230 60,430 248,530 42
Slide 43: Prostate Cancer
PROSTATE CANCER Treatments In 2021 248,530 men are estimated to be diagnosed with prostate cancer in the US.1 31% 2 27% 2 undergo Can be confidently used in all undergo RADICAL RADIATION segments of an organ. 4,5 RADICAL SURGERY 35% report erectile 79% report erectile 4 dysfunction 3 dysfunction 1 “
Slide 44: Focal Therapy
FOCAL THERAPY Bridges the gap between whole gland treatments and active surveillance1 3 4 5 PSA adoption has led to a shift Genetic, molecular, and clinical Improvements in prostate towards less aggressive prostate evidence supports the dominant cancer diagnostic tools.2 cancer being diagnosed.2 les
Slide 45: Focal Therapy Served and Target Markets
FOCAL THERAPY U.S. Served and Target Markets 0 25,000 50,000 75,000 100,000 Qualified Patients Focal Procedures Served Market1 Target Market2,3 $25M $500M 1 Definitive Healthcare All-Payor Hospital Outpatient Volume by CPT Code, 02/05/2021 2 “Cancer Facts & Figures 2021.” American Cancer Society, ww
Slide 46: Focal Therapy Adoption
FOCAL THERAPY ADOPTION Remains low despite patient and physician interest Existing thermal technology Current data includes low-risk disease has less than ideal within the study cohorts1,3 outcomes1,2 1. Worrell Design. Next Gen Voice of Customer, 2020. 2. Sivaraman A, Barret E. Focal Therapy for Pr
Slide 47: NanoKnife Stage 3 Pancreatic Cancer Study
To evaluate the effectiveness and safety of the NanoKnife System for the ablation of Stage 3 pancreatic cancer 1 47 1. “The Anatomy of the Pancreas.” Verywell Health, 6 June 2020, www.verywellhealth.com/pancreas-anatomy-4800990.
Slide 48: Prostate IDE Approved July 2021
IDE Approved July 2nd, 2021 Pivotal study of the NanoKnife System for ablation of prostate tissue in an intermediate-risk patient population 1 Up to 20 Sites in the U.S. 48 1. “The Future of Prostate Cancer Screening Is Here.” Https://Health.Clevelandclinic.Org/, 14 July 2020, health.clevelandclini
Slide 49: PRESERVE Prostate IDE
PRESERVE Prostate IDE SUO-CTC is a clinical research investigator network of 500+ members from more than 250 clinical sites in the US and Canada. X 37 SUO-CTC US sites responded to Call for Sites Up to Sites to be selected, focused on geographic 20 and demographic diversity, high-volume focal therap
Slide 50: Right Treatment, Right Patient, Right Time
RIGHT RIGHT RIGHT TREATMENT PATIENT TIME 1 2 The NanoKnife System Intermediate-Risk Patients Advancements in focal therapy (Imaging, Staging, Technique) 1 https://www.gaurology.com/dr-gonzalez-draws-upon-his-familys-own-prostate-cancer-experience-to-help-others/ 2 https://koelis.com/koelis-announces
Slide 51: Vascular Access & Devices
MED DEVICE VASCULAR ACCESS & DEVICES 51
Slide 52: Vascular Access
VASCULAR ACCESS Safely delivering medication to patients CONNECT / CAPTURE / CONFIRM Tip Location Ports PORTFOLIO Delivering on our product road map through a mix of R&D, clinical & regulatory pathway expansion and M&A PICCs will enable us to serve more patients with a differentiated Dialysis portfo
Slide 53: Vascular Access Product Portfolio – Today and Beyond
Vascular Access Product Portfolio – Today and Beyond FY’19 FY’20 FY’21 FY’22 FY’23 Acute Patient AST Midline/EDC Midlines “PICCs for Patients of All Sizes” Pediatric PICCs PICCs Next Gen C3 Wave Chronic Patient Ports Dialysis 53
Slide 54: Healthcare Economics and Market Access Wins - IRE
Healthcare Economics and Market Access Wins - IRE CY2021 Outpatient IRE assigned to APC equivalent to or higher than other ablation therapies PRESERVE approved CY2020 Outpatient IRE Market Access Model SIR Includes IRE in their universal training curriculum CY2019 Medicare reviews new CPT for Outpat
Slide 55: Advancing Market Access: Physician & Patient Society Engagement
Advancing Market Access: Physician & Patient Society Engagement 55
Slide 56: Financial Goals & Capital Allocation Strategy
FINANCIAL GOALS & CAPITAL ALLOCATION STRATEGY 56
Slide 57: Transformation Toward Double Digit Revenue Growth
Transformation Toward Double Digit Revenue Growth AngioDynamics in investment mode throughout the planning horizon FY22 FY23 FY24 Revenue $305M – $310M Revenue $330M – $336M Revenue $360M – $375M Growth 5% - 7% Growth 7% - 9% Growth 10% - 12% Gross Margin ~55% • Planned significant investment in Med
Slide 58: Gross Margin
Gross Margin Shifting to high margin portfolio expected to drive margin expansion Headwinds Operational Focus • Tight labor market • Mix increase from Med Tech growth contribution • Drives increasing costs • Growth from >70% margin products • Impacts absorption • Make vs buy analysis • Raw Materials
Slide 59: Capital Allocation
Capital Allocation Focused on leveraging current operations to fund future investments in R&D and S&M • Revolver capacity available for future opportunities if needed • Strong banking group relationship • Opportunistic and disciplined approach to tuck-in M&A prospects that support our Med Tech platf
Slide 60: Strategic Transformation
STRATEGIC TRANSFORMATION PURSUE LARGER, FASTER GROWING MARKETS Active portfolio management enables us to compete in larger, faster growing markets relying on technology & innovation to produce measurable patient outcomes DEPLOY FOCUSED RESOURCE DEVELOPMENT Resource deployment focused in areas that o