Slide 1: Commercialisation of USCOM; The Big Leap Forward
For personal use only Commercialisation of USCOM; The Big Leap Forward Robert Phillips MPhil(med), FASE, DMU(cardiol) Chief Executive Officer June 2012
Slide 2: Our goal
Our goal For personal use only Uscom’s mission is to create long-term shareholder value by transforming and improving cardiovascular monitoring and making USCOM the standard of clinical care worldwide 2 The measure of life www.uscom.com.au
Slide 3: Our status
Our status For personal use only De-risked, standard of care, platform cardiac monitoring technology with a clear and activated path to market via strategic partnerships 3 The measure of life www.uscom.com.au
Slide 4: Our objective
Our objective For personal use only Raise adequate funds to support current marketing and the new partnering strategy over the next 18mths 4 The measure of life www.uscom.com.au
Slide 5: Agenda
Agenda For personal use only • Who we are • What we have done • What we can do - current market and the future potential • Our strategy to create shareholder value • Next steps – the business model • The future and new product pipeline 5 The measure of life www.uscom.com.au
Slide 6: This machine is thought to have saved Abbie's life
“This machine is thought to have saved Abbie’s life.” “There are no words to describe how we felt“ Abbie's mother Charlotte Pattison For personal use only h"p://news.bbc.co.uk/2/hi/uk_news/england/no7nghamshire/8525901.stm 6
Slide 7: Uscom Ltd
Uscom Ltd For personal use only • Uscom Ltd – Australian medical device Company • Mission - develop and commercialise non invasive cardiovascular monitoring devices that will improve global health care • Focus - improving medical care and management of hemodynamics worldwide • Outcome – lives are be
Slide 8: What it is...
What it is... For personal use only “The most accurate clinical method of measuring cardiac output” Cardiac output monitor Replaces invasive catheters Noninvasive Ultrasound based Real time blood flow measure 22 parameters Portable Accurate Simple Effective Safe New gold standard of clinical care Im
Slide 9: What it does...
What it does... For personal use only Practice changing platform technology! Catheters USCOM Invasive Noninvasive Inaccurate Accurate InfecEons Safe Mortality Rapid Expensive Inexpensive The measure of life www.uscom.com.au 9
Slide 10: How it works...
How it works... For personal use only “Improving care, reducing risk and reducing cost” Safe and smart ultrasound technology SV: Stroke Volume SVI: Stroke Volume Index Non-invasive CO: Cardiac Output (l/min) CI: Cardiac Index Compact SVR: Systemic Vascular Resistance Intuitive SVRI: Systemic Vascula
Slide 11: Gold standard evidence
Gold standard evidence For personal use only 250+ Peer reviewed publications and presentations Emergency, Pediatrics, Cardiac transplantation, Electrophysiology, Heart Failure, Emergency transport, Anesthesia, Liver transplantation, ICU, Septic shock, Pre- eclampsia, Pulmonary hypertension, Nurse ou
Slide 12: The new gold standard cardiac monitor
The new gold standard cardiac monitor For personal use only • Fluid − “The change in SV with PLR was the only haemodynamic index with significant predictive ability” 91% +ve predictive value. Critical Care 2009;13:R111 • Inotropes/Vaso’s − “USCOM was 6 to 8 times as sensitive to changes in CO induce
Slide 13: Recognition
Recognition For personal use only • 2003 Global Entropolis Winner • Best application of technology to a strong business model. • 2005 World Technology Awards (Time, Science, NYSE, CNN, Fortune) • Finalist in medical technology “most likely to change medical care world wide.” • 2007 MedGadget Journal
Slide 14: A business with multiple opportunities…
A business with multiple opportunities… For personal use only Current markets – 5 markets • Pediatric ICU and neonatal ICU, Adult ICU and ED, Anesthesia monitoring Un-partnered new markets – 17 markets • Hypertension, Heart failure, Nurse led CO measurement, Dialysis, ED trauma resuscitation, Liver
Slide 15: Early global adoption
Early global adoption For personal use only • •• •• •• • • • • • •••• • •• •• • • • • • • • Approximately 500 units worldwide 15 The measure of life www.uscom.com.au
Slide 16: …with a clear competitive advantage
…with a clear competitive advantage For personal use only Non-‐ SV beat Method Man. Technology Rel+Rep invasive Simple Cost Portable to beat USCOM 1A Uscom Doppler ✓ ✓ ✓ ✓ ✓ ✓ BioZ Sonosite BioImpedance ✗ ✓ ✓ ✗ ✓ ✗ NiCOM Cheetah BioReactance ✗ ✓ ✓ ✗ ✓ ✗ Nexfin Bmeye APP ✗ ✓ ✓ ✓ ✓ ✗ CardioQ Deltex Do
Slide 17: Progress – technology de-risked
Progress – technology de-risked For personal use only • Spent $20m • Built the device • Achieved global regulatory approval • Validation – new gold standard cardiac monitor • Global luminary support – excellent KOLs • Endorsed standards of care for multiple clinical applications • Global distributio
Slide 18: Global needs driving future demand
Global needs driving future demand For personal use only 1. Invasive methods are inaccurate and ineffective 2. Need to reduce risk of infection 3. Need to improve levels of care 4. Need to reduce costs 18 The measure of life www.uscom.com.au
Slide 19: Selected financial snapshot 1H2012
Selected financial snapshot 1H2012 For personal use only • ASX code: UCM Summary of 5-year annual revenues • Listed: 2003 • Market cap: $5 million $’000 • Stock on issue: 52 million 1,800 • 52 week high/low $0.24-$0.07 • 1H2012 product sales: $0.5 million • Cash @ 31 Dec ‘11: $1.0 million 1,400 • To
Slide 20: Cardiac monitoring market landscape
Cardiac monitoring market landscape For personal use only Investment opportunity Capitalised value of USCOM and current competitors, $ million 68 69 70 60 53.3 • Last capital raising $0.30 50 • Current price 40 $0.09 $M • Equivalent price 30 to competitors 20 $1.20 10 4.7 0 Pulsion Deltex LiDCO Usco
Slide 21: Regional product sales growth 1H2012
Regional product sales growth 1H2012 For personal use only A total of 500 units currently in use worldwide Units Asia US Europe Sold Pacific 45 % 5% 2011 50 % 21 The measure of life www.uscom.com.au
Slide 22: Regional sales revenues FY2011
Regional sales revenues FY2011 For personal use only x $100,000 Asia Pacific United States Europe, Africa & Mid East 12 12 12 10 10 10 8 8 8 6 6 6 4 4 4 2 2 2 0 0 0 2010 2009 2010 2008 2009 2007 2008 2011 2007 2011 2010 2009 2008 2007 2011 22 The measure of life www.uscom.com.au
Slide 23: Growth – Opportunity
Growth – Opportunity For personal use only New clinical gold standard cardiac monitor based on platform technology which can immediately be licensed into multiple clinical applications to access the ultrasound, cardiac monitoring and ventilation markets. This platform technology can then be develope
Slide 24: Growth – Plans
Growth – Plans For personal use only Short term • Drive current US, Europe and Asian distribution – New evidence • Develop new distribution opportunities – Govt guidelines, etc • Initiate strategic partnership opportunities – Leverage dominant scientific position into Ultrasound, monitors and ventil
Slide 25: Immediate growth – strategic partnerships
Immediate growth – strategic partnerships For personal use only License genuine Gold Standard CO platform technology Ultrasound CO module $500m = 20% of 250k x $10kpa Crit Care CO Monitoring module $500m = 20% of 250k x$10kpa Home care Ventilation CO module Hypertension, HF and sleep monitoring $240
Slide 26: Potential value of product pipeline
Potential value of product pipeline For personal use only USCOM USCOM Current Sales at 4yrs 20% 50% Profit USCOM – sales 1m 400 ($15k) $6m $6m $3m USCOM – new 0 400 ($15k) $6m $6m $3m USCOM – monitors 0 250,000 ($10k) $50m $25m $20m USCOM – ultrasound 0 250,000 ($10k) $50m $25m $20m USCOM – ventilat
Slide 27: Potential value of product pipeline
Potential value of product pipeline For personal use only Uscom sales potential and goals $million 25 25 • Partnership with instant take up of technology • 4 new markets • 20% Penetration • No Upgrades 12 • USCOM gross $84m pa 10 • Cap val = 12xPE = $1,008m • 100m shares @ $18 6 6 USCOM 1A USCOM new
Slide 28: Immediate growth – strategic partnerships
Immediate growth – strategic partnerships For personal use only License patent protected genuine Gold Standard CO platform technology Sales Direct Distributors Partnerships ✗ ✗ ✓ Money Time Scale GFC Reach Commitment? Multiple Sectors 28 The measure of life www.uscom.com.au
Slide 29: Immediate growth – strategic partnerships
Immediate growth – strategic partnerships For personal use only License genuine Gold Standard CO platform technology Potential Sector Partners ApplicaEon Uscom Unit PotenEal partners Ultrasounds HaemoCOM GE, Philips, Sonosite, Medison, Hitachi, Toshiba Monitors CardioCOM GE, Philips, Spacelabs, Mind
Slide 30: Growth – partnerships and new products
Growth – partnerships and new products For personal use only • New clinical gold standard cardiac monitor • Platform technology • Organic growth from current markets and incremental growth from licensing • New products: long term growth 1. Miniaturised and continuous monitoring – PulseCom 2. Hyperte
Slide 31: Results focused strategy to create value
Results focused strategy to create value For personal use only We are milestone-driven and outcomes focused Sell or license Execute major multiple new global products licensing, based on Rapidly grow partnerships current sales revenues and distribution proven by using new deals for the platform clin
Slide 32: 2012 capital raising
2012 capital raising For personal use only • Uscom is currently preparing for a capital raising in 2012 • Capital raised will be prudently used to: • Grow sales team and revenues with focus on key markets • Expedite business development - global partnering and licensing negotiations underway • Devel
Slide 33: Summary
Summary For personal use only • Commercially focused Sydney-based ASX-listed medical device company focused on non-invasive cardiac monitoring technology • Revenue generating global business ($1million in 2011 and growing) • World-leading, ‘practice changing’ platform technology poised to transform
Slide 34: The future?
The future? For personal use only “USCOM may just be the next big Australian medical device success story; and the blocks are falling into place.” 34 The measure of life www.uscom.com.au
Slide 35: Thank you
USCOM For personal use only Thank you Rob Phillips Chief Executive Officer T: +61 418681154 E: rob@uscom.com.au 35 The measure of life www.uscom.com.au
Slide 36: Appendicies
For personal use only 36 Appendicies
Slide 37: Product pipeline adds potential value
Product pipeline adds potential value For personal use only Current product line • Patent protected USCOM technology – 2021+ • USCOM 1A – Advanced haemodynamics • OXYCOM – Real time Oxygen Delivery (DO2) • USCOMt – Haemodynamics transducer • CARECOM – Physiology mapping and treatment guide • EDUCOM
Slide 38: Who says there is a need for Uscom?
Who says there is a need for Uscom? For personal use only “Non-invasive hemodynamic monitoring is the number one unmet need...” Survey of 700 physicians and nurses worldwide, by GE Medical Systems . 38 The measure of life www.uscom.com.au
Slide 39: The emerging gold standard of clinical care
The emerging gold standard of clinical care For personal use only Home of Jeremy Swan and William Ganz and the PAC! Question: Is there still a place for the Pulmonary Artery Catheter in the ICU Practice? ANSWER: “USCOM may safely replace the PAC in many clinical applications” Source: Jain S, Allins
Slide 40: Potential value of current markets
Potential value of current markets For personal use only Worldwide market Cap value at 25% estimate ($15k, penetration, 50% Department Total beds* (USA) 1/10beds) profit and x20PE Neonatal ICU 17,000 $51m $128m Paediatric ICU 4,000 $12m $30m Cardiac Surgery 10,000 $30m $75m Adult ICU 50,000 $150m $3
Slide 41: Extensive intellectual property estate
Extensive intellectual property estate For personal use only USCOM has significant value in its core patent • Ultrasound is the emerging diagnostic modality – The USCOM patent is all Doppler Ultrasound cardiac output monitoring. 41 The measure of life www.uscom.com.au
Slide 42: Extensive intellectual property estate
Extensive intellectual property estate For personal use only USCOM has significant value in its extensive IP estate • 23 granted patents • 13 different applications • 2 registered trade marks 42 The measure of life www.uscom.com.au
Slide 43: Testimonials
Testimonials For personal use only “This machine is saving lives, there are no two ways about it.” Professor Brendan Smith, Anesthetist, Intensivist and Emergency Physician, N.S.W. Dept of Health, Australia “The USCOM device is a simple method of accurately and noninvasively measuring central circul