Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — Non-Deal Roadshow (March 2020)
31 slides from Imricor Medical Systems's roadshow presentation, Mar 9, 2020
Slide 1: Investor Roadshow Presentation
For personal use only Investor Roadshow Presentation March 2020
Slide 2: Disclaimer
Disclaimer The material contained in this presentation is intended to be general background information on Imricor Medical Systems Inc (“Imricor”) and its activities. For personal use only The information is supplied in summary form and is therefore not necessarily complete. It is not intended that
Slide 3: Contents
Contents For personal use only Key Achievements 4 Business Update 5 Market Opportunity 12 Financial Performance 18 Looking Ahead 23 Appendices 25 3 Imricor Investor Roadshow Presentation, March 2020
Slide 4: Key Achievements Since IPO
Key Achievements Since IPO CE mark approval For personal use only Key lab Procedures received operational undertaken for Vision–MR Ablation Catheter at Heart Centre Dresden also are delivering excellent outcomes & Vision-MR Dispersive Electrode providing training to future sites for surgeons & patie
Slide 5: Business Update
Business Update For personal use only 5 Imricor Investor Roadshow Presentation, March 2020
Slide 6: Progress with lab roll out plan
Progress with lab roll out plan • Dresden: Routine clinical procedures have commenced (catheters re-ordered) For personal use only 4 Sites with • Haga: Adv-MR installed, clinical procedures will commence in March Signed Contracts • UMC Ams: Adv-MR installed, clinical procedures will commence in Marc
Slide 7: Active Catheter Imaging – combining Passive Tracking and Active MR Tracking
Active Catheter Imaging – combining Passive Tracking and Active MR Tracking Active MR Tracking Passive Tracking and Mapping For personal use only Active Catheter Imaging Combines Passive Tracking and Active MR Tracking to provide improved catheter visualisation without the need for 3rd party Active
Slide 8: Lab adoption plans supported by success of Active Catheter Imaging
Lab adoption plans supported by success of Active Catheter Imaging For personal use only Vision-MR Ablation Active Catheter Imaging Provides Catheter tip • Fluoroscopic-like MR imaging with easily identified catheter tip • Increased speed for AFL ablations compared to active tracking and mapping • E
Slide 9: 3rd party Active Tracking and Mapping systems
3rd party Active Tracking and Mapping systems Philips iSuite For personal use only • Research version released for hospitals to purchase • Local Ethics Committee (or IRB) approval required to use during clinical cases (our previously described plan) • Full commercial release timing not disclosed Sie
Slide 10: Lab start-up comparison with and without Active Catheter Imaging on Siemens MRI
Lab start-up comparison with and without Active Catheter Imaging on Siemens MRI For personal use only Without With Active catheter imaging enables Active Catheter Imaging Active Catheter Imaging sites with an available Siemens MRI Install Advantage-MR lab and the required equipment Timeline to comme
Slide 11: Investment in business capability and capacity
Investment in business capability and capacity Continuing to strengthen the Imricor team to deliver growth opportunities and support product roll out following CE mark approval For personal use only FTEs at IPO FTEs Today G&A G&A Manufacturing 2 4 5 Manufacturing 11 Sales & Marketing 1 Total 25 Tota
Slide 12: Market opportunity
Market opportunity For personal use only 12 Imricor Investor Roadshow Presentation, March 2020
Slide 13: Key drivers of Imricor's growth strategy
Key drivers of Imricor’s growth strategy For personal use only Expanding 3 indications Product line 2 expansion Geographic 1 expansion 13 Imricor Investor Roadshow Presentation, March 2020
Slide 14: A phased approach to geographic expansion
A phased approach to geographic expansion For personal use only EU Australia US Local agent to be selected in March 2020. Europe CE mark achieved Detailed approval strategy United States in planning phase. PHASE 1 FDA strategy well The Netherlands, Austria, advanced. Germany and Switzerland. Targeti
Slide 15: Product line expansion: improve gross margin, support expanding indications
Product line expansion: improve gross margin, support expanding indications Steerable Sheath and Diagnostic Catheter For personal use only Transseptal Needle • Development well advanced • Prototype phase • Scaled down Vision-MR ablation • Regulatory strategy being catheter aimed at faster developed
Slide 16: Expanding indications
Expanding indications For personal use only First Indication – Type 1 Atrial Flutter (CE mark approval achieved) • Ablation in the right atrium Expanded Indication – Atrial Fibrillation • Ablation in the left atrium • Requires transseptal puncture kit Expanded Indication – Ventricular Tachycardia •
Slide 17: Sales and marketing strategy
Sales and marketing strategy Imricor’s marketing strategy is designed to specifically address the two key drivers of revenue growth, the number of iCMR labs and the number of procedures performed with Imricor’s consumables in each lab For personal use only Driving lab adoption in collaboration with
Slide 18: Financial Performance
Financial Performance For personal use only 18 Imricor Investor Roadshow Presentation, March 2020
Slide 19: Profit and loss
Profit and loss For personal use only US$’000 FY18 FY19 Commentary Revenue 1,002 640 • FY18 revenue derived primarily from licensing fees and contract Operating expenses (2,266) (3,496) revenue not related to our core business R&D expenses (3,476) (3,434) • Operating expenses increased in FY19 due p
Slide 20: Cashflow
Cashflow US$’000 FY18 FY19 Commentary For personal use only Net loss (5,448) (13,294) Convertible note related expenses 799 6,684 • Net operating cash outflows increased $1.9 million year over year due primarily to building inventory in anticipation of commercial Other non-cash adjustments 356 548 l
Slide 21: Balance sheet
Balance sheet Dec-19 Commentary US$’000 (31 December) Dec-18 Dec-19 Pro-forma(1) Cash and cash equivalents 1,588 5,049 17,869 For personal use only Accounts receivable 56 256 256 • Current assets: Year over year increase due to proceeds from IPO Inventory 374 1,221 1,221 and inventory build in prepa
Slide 22: Key initiatives/objectives since IPO
Key initiatives/objectives since IPO For personal use only • Support margin improvements through development and manufacturing improvements and efficiencies • Diagnostic catheter • Increase lot size for sterilisation • New coil winder to increase capacity • Advantage-MR host computer replacement to
Slide 23: Looking ahead
Looking ahead For personal use only 23 Imricor Investor Roadshow Presentation, March 2020
Slide 24: Our focus for the year ahead
Our focus for the year ahead Imricor’s focus for 2020 is on continuing to execute a controlled product launch throughout the EU For personal use only while pursuing growth opportunities • Aim to have 15 iCMR labs ordering consumables in Europe during the first half of 2020 • Ongoing development of p
Slide 25: Appendices
Appendices For personal use only 25 Imricor Investor Roadshow Presentation, March 2020
Slide 26: Introduction to Imricor
Introduction to Imricor Imricor is an innovative US based medical device company that aims to deliver the world’s first commercially viable and safe MRI-compatible devices for cardiac ablation procedures For personal use only Overview Customers • Founded in 2006, initially with IP from Johns Hopkins
Slide 27: Imricor's value propositions
Imricor’s value propositions Imricor believes its products have the potential to successfully address unmet needs in the ablation technology currently available in the cardiac catheter ablation market and deliver value to stakeholders For personal use only Patient Doctor Payer Hospital • Higher sing
Slide 28: Key investment highlights
Key investment highlights 1 The world’s first commercially available MRI-compatible catheter ablation devices For personal use only Imricor is a pioneer in developing tools for MRI-guided cardiac ablation procedures, and believes it is the first company in the world to bring commercially viable and
Slide 29: A strong and growing market in cardiac ablation
A strong and growing market in cardiac ablation A large global addressable market with high growth potential supported by favourable growth drivers For personal use only Drivers of Global Catheter Ablation Market Global Cardiac Ablation Market • Increased incidence of cardiac disease 7.6% 4.37 4.04
Slide 30: Competitive landscape
Competitive landscape Biosense Webster For personal use only Categories Imricor / Johnson & Abbott Boston Scientific Medtronic Imricor’s Solution Johnson Ensite Precision™ Arctic Front Ablation platform name Advantage-MR Carto 3® System Rhythmia HDx™ ü Improved visualisation /NavX™ Advance™ Image gu
Slide 31: Contact information
Contact information For personal use only Investors: Investors: Steve Wedan Carrie Barrack Executive Chair, President & CEO Cato & Clive Email: steve.wedan@imricor.com Email: carrie@catoandclive.com Media: Carrie Barrack Cato & Clive Email: carrie@catoandclive.com Mobile: +61 422 464 028 31 Imricor
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