Trisalus Life Sciences, Inc. · NASDAQ:TLSI
Trisalus Life Sciences — SPAC Merger (November 2022)
43 slides from Trisalus Life Sciences's SPAC merger presentation, November 2022
Slide 1: Investor Presentation
November 2022 Investor Presentation © 2022 TriSalus™ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution.
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by MedTech Acquisition Corporation (“MedTech”), formed as a special purpose acquisition company, and TriSalus Life Sciences, Inc. (“TriSalus”) for use in connection with a proposed business combination and related transactions between MedTech and TriSal
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain “forward-looking statements” within the meaning of the United States federal securities laws regarding MedTech’s or TriSalus’s expectations, hopes, beliefs, assumptions, intentions or strategies regarding the future including, without lim
Slide 4: Forward-Looking Statements
Forward-Looking Statements You should carefully consider the foregoing factors and other risks and uncertainties described in the “Risk Factors” section of MedTech’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 2, 2022 (the “2021 Form 10-K”), th
Slide 5: Use of Projections
Use of Projections The financial projections, estimates and targets in this presentation are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond MedTech’s and TriSalus’s control. Neither MedTech
Slide 6: Additional Information in Connection with SEC Filing
Changes and Additional Information in Connection with SEC Filing The information in this presentation has not been reviewed by the SEC and certain information may not comply in certain respects with SEC rules. MedTech intends to file a registration statement on Form S-4 (the “Registration Statement”
Slide 7: Trademarks; PIPE Financing
Trademarks MedTech and TriSalus own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This presentation may also contain trademarks, service marks, trade names and copyrights of third parties, which are
Slide 8: PIPE Risk Factors
PIPE Risk Factors All references to “TriSalus,” the “Company,” “we,” “us” or “our” refer to the business of TriSalus and its consolidated subsidiaries. The risks presented below are certain of the general risks related to the business of the Company, MedTech Acquisition Corp. and the Proposed Busine
Slide 9: PIPE Risk Factors
PIPE Risk Factors Legal and Regulatory Risks: • Our TriNav infusion system and other product candidates are regulated and require appropriate clearances and approvals to be marketed in the U.S. and globally, and any failure to obtain such clearances and approval, whether on a timely basis or at all
Slide 10: PIPE Risk Factors
PIPE Risk Factors Risks Related to the Business Combination: • The consummation of the Proposed Business Combination is subject to a number of conditions, including entry into a definitive agreement and plan of merger (the “Proposed Business Combination Agreement”), and if those conditions are not s
Slide 11: TriSalus Life Sciences is the Ideal Target for MTAC's Strategy
TriSalus Life Sciences is the Ideal Target for MTAC’s Strategy Differentiated, fast-growing, commercial medtech business with potential transformational upside from a therapeutic platform focused on tumors in the liver and pancreas Attractive device valuation at significant discount to comparabl
Slide 12: MTAC Team
MTAC Team Multi-billion dollar value creation liquidity events across an array of medical device companies Karim Karti Chris Dewey David Matlin Martin Roche, MD Thierry Thaure Manuel Aguero Chairman Chief Executive Officer Chief Financial Officer Director Director Director David Treadwell Michael St
Slide 13: TriSalus Team
TriSalus Team Mats Mary Richard Steven Katz, Sean Jennifer Trevor Bryan Wahlstrom Szela Marshak MD, FACS Murphy Stevens McCaw Cox, PhD Executive CEO & President SVP, CMO, CFO Chief Regulatory CCO Chief of Research Chairman BD and Strategy Chairman SAB Officer Note: Companies under each individual ar
Slide 14: TriSalus' Two-Pronged, Two-Solution Approach
TriSalus’ Two-Pronged, Two-Solution Approach Combining commercial fast-growing device business with a potential best-in-class therapeutic TriNav Infusion System SD-101 • Class C TLR9 agonist studied in >300 patients • Commercial-stage, high margin, and FDA cleared drug delivery • Tolerability and ro
Slide 15: Two Key Barriers in Treatment of Tumors in the Liver and the Pancreas
Two Key Barriers in Treatment of Tumors in the Liver and the Pancreas High intra-tumoral NK cell pressures limit drug delivery Myeloid-derived < 1% suppressor cell of therapeutic may be delivered into tumor (MDSCs) with systemic infusion1,2 Collapsed vessel Extracellular matrix (ECM) Broad immune su
Slide 16: A Fast-Growing Device Business
A Fast-Growing Device Business © 2022 TriSalus™ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 16
Slide 17: A Better Solution for Drug Delivery
A Better Solution for Drug Delivery Break-through drug delivery platform designed to overcome the barriers of the high-pressure tumor microenvironment (“TME”) TriNav Infusion System Atraumatic, dynamic SmartValve expands Commercial-stage technology launched in 2020 using the proprietary Pressure-Ena
Slide 18: Proprietary Pressure-Enabled Drug Delivery (PEDD) Technology
Proprietary Pressure-Enabled Drug Delivery (“PEDD”) Technology TriNav PEDD with SmartValve Technology Routine outpatient Intravascular regional drug delivery to the liver Performed for tumors that cannot be surgically resected4 A small puncture is made, 1 usually into the femoral artery near the gro
Slide 19: PEDD Drives More Therapeutic Into High Pressure Tumors
PEDD Drives More Therapeutic Into High Pressure Tumors Improved therapeutic tumor payload delivery as evidenced by Angiography and CT Angiograms CT Angiograms Standard Catheter Surefire increases Surefire Standardpressure during infusion, overcom End-hole ing tum or pressure PEDD Standard End-hole C
Slide 20: PEDD Increases Delivery of Multiple Therapeutics
PEDD Increases Delivery of Multiple Therapeutics Additional clinical and pre-clinical data points support a singular conclusion (>1000 6.7 – 10.1 60% 33% to 90% 500% ng/g) fold increase in increase in increase in Minimal improved therapeutic MAA tumor CAR-T systemic delivery vs. delivery to depositi
Slide 21: Expansion Opportunities with Partnerships
Expansion Opportunities with Partnerships Technology enables performance of heretofore un-optimized drugs Potential Partnerships with Companies Potential Partnerships with Companies Advancing Checkpoint Inhibitors Advancing CAR-T and Other Cell Therapies Overall response rate (“ORR”) among ~30% lead
Slide 22: Strong Customer Base with Support from KOLs
Strong Customer Base with Support from KOLs Top TriNav Customers Select KOL Reviews1 “The combination of SD-101 and “The TriNav device offers a the PEDD is about as exciting of a legitimate innovation in the potential treatment I have seen in catheter space.” the IR space.” “I remain enthusiastic ab
Slide 23: Studies Run by Internationally Renowned Cancer Centers
Studies Run by Internationally Renowned Cancer Centers Clinical investigators highly enthusiastic by approach and data 1 2 1) MDACC Alliance Program for multiple clinical trials and pre-clinical programs 2) Site for TriSalus translational immunotherapy program © 2022 TriSalus™ Life Sciences. All Rig
Slide 24: Reimbursement Environment
Reimbursement Environment1 Reimbursed 50% through private insurance, 50% through CMS with action plan detailed below = Current Status 2022 Legislative Action Action Plan Draft language Prepared for inclusion in Medicare Extenders portion of end of year legislation Short-term Transitional Pass-throug
Slide 25: Significant Potential Upside from SD-101 Program in Development
B Significant Potential Upside from SD-101 Program in Development © 2022 TriSalus™ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 25
Slide 26: Strategic Selection of the SD-101 Platform
Strategic Selection of the SD-101 Platform Mechanism of Action (“MoA”) is Robust Response Rates in Prior Lowered Threshold for Efficacy well-suited for Liver and Clinical Studies with Checkpoint Given Current and Future Pancreatic Indications Inhibitors Competitor Response Rates Plan to Enter CRC Li
Slide 27: SD-101 MoA Well Suited for Liver and Pancreas Indications
SD-101 MoA Well Suited for Liver and Pancreas Indications SD-101 binds to MDSC plasma membrane Reversing immunosuppression to enhance tumor responsiveness1,2 SD-101 Cytokine 1 release Liver and pancreatic pancreatic Broad immune modulation tumors are unresponsive to immunotherapies due due to immuno
Slide 28: Pressure Enabled Infusion of Immunomodulators Into Unresponsive Tumors
Pressure Enabled Infusion of Immunomodulators Directly Into the Vascular Bed of Unresponsive Liver and Pancreas Tumors Targets dysfunctional immune cells in the tumor and organ to enhance checkpoint inhibitor performance TriSalus PEDD + Potent Immune Stimulation Unresponsive Tumor Responsive Tumor I
Slide 29: SD-101 Improved Responsiveness to Anti-PD1 Therapy in CPI Naïve Patients
SD-101 Improved Responsiveness to Anti-PD1 Therapy in CPI Naïve Patients Checkpoint response rate increased from 35% to 79% PD-L1 Status 100 • SD-101 + pembro ORR 79% compared to single Unknown Positive Pembro + SD-101 agent pembro ORR of 35% in prior study1 TUMOR GROWTH 80 Negative Synergy Study •
Slide 30: Summary of Initial PERIO Platform Experience
Summary of Initial PERIO Platform Experience Initial clinical data aligns with previous Phase 2 SD-101 experience Dynavax Phase 1 / 2 Superficial TriSalus Phase 1 Liver and Tumor Programs (SD-101 + Pancreas Programs (SD-101 + needle injection, >300 treated)3 PEDD, >25 enrolled) Broad TME immune modu
Slide 31: Our Platform Has the Potential to Set New Immunotherapy Benchmarks
Our Platform Has the Potential to Set New Immunotherapy Benchmarks Building on previous Dynavax SD-101 + CPI data with ORR of 79% in cutaneous melanoma 100% UM HCC Target ORR Range 80% SD-101/PEDD + CPI ICC Overall Response Rate Approved Therapy 60% “TRANSFORMATIVE” “COMPELLING” 40% 20% 0%
Slide 32: Potential for Approval as Early as 2025
Potential for Approval as Early as 2025 Orphan and ultra-orphan indications offer a potential pathway towards accelerated approval Both ICC and uveal melanoma have potential to access expedited development programs/review pathways (i.e. Breakthrough or Fast Track Designation and Priority Review)
Slide 33: Pipeline Designed to Enable CPI in Liver and Pancreas Tumors
Pipeline Designed to Enable CPI in Liver and Pancreas Tumors Platform creates opportunities for orphan and ultra-orphan indications with rapid approval potential Indication Trial Design IND-enabling Phase 1 Upcoming Milestones • Q4 2022: Phase 1 response data Uveal melanoma liver metastases SD-101 +
Slide 34: SD-101 / PEDD Platform Milestones
SD-101 / PEDD Platform Milestones Clinical trial programs on track 2021 2022 2023 2024 Therapeutic Indication Clinical Program Area Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Phase 1 Response Data Uveal 1L Liver PERIO-1 Melanoma metastases Start Ph1b/2 IND Start Ph 1 Phase 1 Durable Response Data
Slide 35: US Annual Addressable Market Opportunity for SD-101
US Annual Addressable Market Opportunity for SD-101: >$15bn1 SD-101 + PEDD Estimated Annual New Addressable Current 5-year Indication Cases – US2 Population – US3 Survival4 Uveal melanoma with 2,500 1,250 10–15% liver metastases • Lead indications all Intrahepatic areas of high unmet 3,000-6,000 2,4
Slide 36: Interweaving Patents and Exclusivity for Long Term IP Protection
Interweaving Patents and Exclusivity to Increase Long Term Protection of Intellectual Property Multiple Layers of Protection • TriNav and SD-101 Product-Specific IP • Methods of Treatment (“MoT”) PEDD and ― New Indications SD-101 ― Combo Therapies Product specific IP ― Optimal pressure range and dos
Slide 37: Patent Overview
Patent Overview 29 Patent Families, 106 Issued patents, 49 pending applications (including 3 pending provisional applications) 2016 2018 2020 2022 2024 2038 2040 SD-101 E.g. U.S. Patent No. 9,422,564 Hatch Waxman extension Composition - Dynavax Expires: 12-18-23 – expires 20281 SD-101 Method U.S. Pa
Slide 38: Business Combination Overview
Business Combination Overview © 2022 TriSalus™ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution. 38
Slide 39: Investment Highlights
Investment Highlights Commercial-stage FDA cleared device with an estimated $23.6mm sales in 2023 1 and a cash flow positive device business anticipated in 2024 2 Additional upside in pharma with delivery platform partnerships Leveraging proprietary device with unique immunotherapeutic asset to 3 ta
Slide 40: TriSalus has Opportunities for Significant TAM Upside
TriSalus has Opportunities for Significant TAM Upside 2022E Revenue T r i N a v A n n u a l TA M S D - 1 0 1 A n n u a l TA M $15,000.0mm2 $368.0mm1 $12.6mm 1) 1 file. Assumes that TriSalus successfully extends the TPT payment for TriNav of $7,750 TriSalus company market research on 2 3 for subseque
Slide 41: Putting the Valuation of TriSalus into Context
Putting the Valuation of TriSalus into Context This business combination is an opportunity to invest in a differentiated, fast-growing, commercial medtech business with the potential upside from a therapeutic platform Medical Device Business Average + Therapeutics Business EV / ’24E ’21A – ’24E ’24E
Slide 42: Transaction Summary
Transaction Summary Transaction Overview Sources1 Uses1 ($ in millions) ($ in millions) The transaction is expected to close in Q1 2023. Cash in Trust $15.0 Cash on Balance Sheet $60.0 Post-closing, the combined company is anticipated to be listed on the Nasdaq, and will be named TriSalus Life S
Slide 43: Thank you!
Thank you! © 2022 TriSalus™ Life Sciences. All Rights Reserved. Strictly Confidential. Not for Distribution.