Adagio Medical Holdings, Inc · NASDAQ:ADGM
Adagio Medical — Investor Presentation (August 2025)
20 slides from Adagio Medical's investor presentation, August 2025
Slide 1: Investor Presentation
August 2025 Investor Presentation 1
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer Forward Looking Statements This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this presentation, including statements regarding the potential of our Proprietary Ult
Slide 3: Leadership Team
Leadership Team Over 200 Combined Years of Med Tech Experience Todd Usen Debbie Kaster Al e x B a b k i n Daniel George Chief Executive Officer Chief Business Officer Chief Technology Officer Interim Chief Financial Officer - CONFIDENTIAL - Nabil J u b r a n D o u g Kurschinski Ilya Grigorov Chief C
Slide 4: Adagio Medical Overview
Adagio Medical Overview Proprietary Ultra Low Temperature Cryoablation (ULTC): The Coolest Innovation in Ventricular Tachycardia (VT) Ablation Large Market with Significant U.S. FULCRUM-VT Pivotal IDE Unmet Need Swiftly Enrolling Estimated $5.8B total addressable Granted FDA Breakthrough Designation
Slide 5: Estimated $5.8B Global TAM for VT Ablation
Estimated $5.8B Global TAM for VT Ablation Large, Underpenetrated Market with Established U.S. Reimbursement ~$5.8B Global TAM Idiopathic VT and Premature Ventricular Contractions ~1.6M ~780K Cases Unserved Global Patients Eligible for - CONFIDENTIAL - VT Ablation Annually ~1.6M Global Patients Elig
Slide 6: Challenges of Current VT Ablation Catheters
Challenges of Current VT Ablation Catheters Current Products Were Designed for Atrial Ablations Existing Product Drawbacks Current Procedural Complication Rates1,2 11.5% Current catheters often lack depth for effective lesions in the ventricle Inadequate lesion durability leads to recurrence of VT 5
Slide 7: Clinical Evidence Supporting VT Ablation as First Line Therapy is Building
Clinical Evidence Supporting VT Ablation as First Line Therapy is Building VANISH-21 PAUSE-SCD2 Ablation vs Antiarrhythmic Drugs (AAD) in post-myocardial infarction Prophylactic ablation + ICD vs AAD + ICD in secondary prevention or implantable cardioverter-defibrillators (ICD) patients with prior V
Slide 8: VT Market Poised for AF-Like Acceleration
VT Market Poised for AF-Like Acceleration Fueled by Data Supporting Guidelines and Purpose-Built VT Solution AF: Historic 10-13% VT: Historic 5-8% Growth1 1600 2024: Commercialization Growth1 of the first approved Large patient population PFA systems Large, heterogeneous (and sick) 1400 (~12M patien
Slide 9: vCLAS Catheter Purpose Engineered for VT Ablations
vCLAS Catheter Purpose Engineered for VT Ablations Clinically Tested in Patients with Ischemic and Non-Ischemic Cardiomyopathy Overview Durable lesions of titratable depth and size Endocardial ablations of mid-myocardial scar Catheter stability during energy delivery Time and effort: efficient proce
Slide 10: Greater Than 2x Lesion Depth with ULTC
Greater Than 2x Lesion Depth with ULTC ULTC Freeze and Lesions Ventricle Depth from Different (Pre-Clinical) Energy Sources1 18 Minimal 16 attenuation 14 in scar tissue Lesion Depth 12 10 - CONFIDENTIAL - 2.1x 8 6 2.6x 4 2 0 Radiofrequency ULTC Wider Deeper Healthy Tissue Scar Standard Deviation D
Slide 11: ULTC vs. Traditional Cryo
ULTC vs. Traditional Cryo Comparison of Cryogens Used in Medical Devices for Cardiac Applications Approx. Approx. Min. Ablation Cooling Device Example Cryogen Cryogen Use Case Lesion Depth Limitations / Advantages Element Power Temp. Temp. Medtronic Medtronic Traditional Cryo Endocardial; X Requires
Slide 12: CRYOCURE-VT Study Results
CRYOCURE-VT Study Results Clinical Results Supported CE Mark Approval1 81% 94% 97% Freedom From ICD - CONFIDENTIAL - Shock at 6 months ACUTE MORPHOLOGIES EFFECTIVENESS Consistent results in both ischemic and non-ischemic cardiomyopathy SAFETY Procedural 0% Characteristics 60% chronic effectiveness 6
Slide 13: Favorable Safety and Effectiveness Profile
Favorable Safety and Effectiveness Profile Adagio Results Address Challenges of Currently Approved and Investigational Devices for VT Acute Complications1 Energy Procedure # of Irrigation Indication Access Acute Chronic Manufacturer / Device / Study Source Time, min Lesions Volume, L All Death Strok
Slide 14: FULCRUM-VT Pivotal Study
FULCRUM-VT* Pivotal Study Overview FULCRUM-VT Centers Study Design Single arm; 206 patients across ~20 sites Ischemic cardiomyopathy Non-ischemic cardiomyopathy MHI M c G ill FDA Performance Goals Brigham & Women - CONFIDENTIAL - B e t h - I sr a el UM C r yo c u r e - VT Cornell M etrics V a lu e R
Slide 15: Pipeline: Next Generation ULTC – Single Freeze
Pipeline: Next Generation ULTC – Single Freeze Smaller • Colder • Deeper • Faster Overview 8.5 Fr sheath provides improved compatibility Enabled by “new physics” – expansion of the cryogen within the distal cryoablation element Lower ablation temperatures allow for faster ablation without bonus free
Slide 16: Improved Usability with Next Gen ULTC
Improved Usability with Next Gen ULTC Catheter Specifications User Benefits Lower Improved In- Challenging Smaller Improved Improved Perceived vCLAS Next Gen Commercial Sheath Locations Hearts Tissue Retrograde Overall Barriers Torqueability Navigation1 Navigation Opposition Access Safety Sheath com
Slide 17: Pulsed Field Cryoablation
Pulsed Field Cryoablation Desired Depth with Less Energy than PFA Alone Increased impedance of frozen tissue dramatically reduces PFA current Consistent tissue contact PFA ULTC PFCA No phrenic nerve capture Pulsed Catheter -145°C -145°C - CONFIDENTIAL - No or minimal skeletal muscle E-field activati
Slide 18: Established U.S. Reimbursement
Established U.S. Reimbursement VT Ablation Covered by Existing Codes $22-27k $24.5k Reimbursement Existing U.S. Inpatient (DRG) Payment Amount Outpatient (APC) Payment Amount ~40% ~60% - CONFIDENTIAL - % of VT Ablation Procedures % of VT Ablation Procedures Breakthrough Designation Increases Likelih
Slide 19: Select Financials and Capitalization
Select Financials and Capitalization ($ in millions) At 6/30/25 Cash and Cash Equivalents $8.2M - CONFIDENTIAL - Convertible Notes Payable (including accrued interest) $22.49M Shares Outstanding 15.38M Total Base Warrants ($10 ex. price) 7.53M Total Convert Warrants ($25 ex. price) 1.50M 19
Slide 20: Business Highlights
Business Highlights Two-Year Lead with Purpose Built Catheter for VT Ablation Addressing Underserved, 6% Penetrated, $5.8 Billion VT Ablation Market1 Promising Results from CE Mark Study for VT - CONFIDENTIAL - Breakthrough Device Designation from FDA Surpassed 85% Enrollment of FULCRUM-VT IDE Study
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