Modular Medical, Inc. · NASDAQ:MODD
Modular Medical — Investor Presentation (December 2023)
29 slides from Modular Medical's investor presentation, Dec 26, 2023
Slide 1: Investor Presentation
Investor Presentation . NASDAQ:MODD
Slide 2: Forward Looking Statements, Other Disclaimers
2 | Forward Looking Statements, Other Disclaimers . This presentation includes forward - looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private S
Slide 3: Corporate Overview
3 | Modular Medical is a development stage medical device company seeking to produce a next generation insulin pump to expand access to a higher standard of glycemic management for people with diabetes. Founded by Paul DiPerna, founder of Tandem Diabetes (TNDM) and original designer of its popular t
Slide 4: Insulin Pumps Represent the Gold Standard in Glycemic Control
4 | Insulin Pumps Represent the gold standard in glycemic control. Better outcomes, better patient health, lower A1C. (Market share leaders: Medtronic, Tandem, Insulet) Outcomes Better outcomes lead to systemic savings: fewer trips to ER, reduced comorbidities. Saves $10k/patient year (40%) even aft
Slide 5: US Market Size
5 | US Market Size . 27 million people with diabetes. 3.6 million require daily insulin (1.6M Type 1, 2.0M Type 2). Pumps CGM MDI 670,464 1,718,919 2,908,056 Pumps CGM Patient Estimates (2020) MDI Patients estimates device type and therapy are for T1D and T2D combined. MDI defined as needing rapid a
Slide 6: Abbott Freestyle Libre Made Continuous Glucose Monitoring Easier and More Affordable
6 | Abbott Freestyle Libre made continuous glucose monitoring easier and more affordable. This expanded the product category and doubled its size. We believe the insulin pump market is ready for a similar transition. FreeStyle Libre vs. Dexcom Revenue 0 100 200 300 500 400 600 700 800 4Q20 2Q16 4Q16
Slide 7: $3B US Market of Almost Pumpers
7 | 1.2M T1D MDI 28% of T1D MDI ($1.37B) 25% of T2D MDI ($1.63B) $3B US market of almost pumpers. 1.6M T2D MDI *Seagrove Partners LLC, HCP Perspectives August 2021. HCPs fairly consistently indicated that about 25% of their MDI population are “almost pumpers”, meaning that they have considered going
Slide 8: What Are Almost Pumpers Asking For?
8 | What are almost pumpers asking for ? Seagrove Partners LLC, HCP Perspectives August 2021 Precision Xtract September 2018 Bottom line: “I cannot spend more time managing my diabetes.” 45% expressed a desire to go on pump Make it easy for me Make it easy for my doctor Make it easy to get coverage
Slide 9: MODD1 Insulin Delivery for Almost Pumpers
9 | MODD1 Insulin Delivery for Almost Pumpers . Eliminate trade offs to expand the market. No external controller required No charging or battery replacement Removable Push button to bolus 90 - day reusable pump 3 - day cartridge Only patch pump with full sized 3ml reservoir. Latest low power Blueto
Slide 10: MODD Technology Designed to Provide Precision and Safety
10 | MODD Technology Designed to Provide Precision and Safety . MODD Pumping Mechanism Disposable Cartridge Rotating Cam Precision micro - dosing limits excessive insulin exposure and preserves insulin molecule integrity* Can be used with the latest ultra rapid insulins* More continuous insulin deli
Slide 11: Simple Design Enables Automated, High-Volume Manufacturing
11 | Simple Design Enables Automated, High - Volume Manufacturing . Insulet Omnipod MODD1
Slide 12: Telehealth Optimized
12 | Telehealth Optimized Endocrinologists are perfect candidates for telehealth. They are overworked, underpaid, and need to drive more volume through their practices. Most of what they do can be done online (tests, guidance). There are only 4,000 patient facing endos in the US. ”Remote Patient Mon
Slide 13: Payor Preferred
13 | Payor Preferred . Our products are designed to attain preferential reimbursement and avoid the coverage pitfalls many other pumps have experienced. National Payor Survey Retained ISA to perform National Payors Survey on 1/3 of all commercial lives in US (50 million lives) Payor Benefits: ■ 20%
Slide 14: Unit Economics
14 | Unit Economics . 90 Day Re - Usable Price: FREE Cost: $34 3 Day Disposable Price: $34.4 * Cost: $7.68 First month: 1 Re - Usable + 10 Disposables Price: $344 Cost: $34 + $76.80 = $110.80 Gross Profit: $233.20 68 % Profit Margin Subsequent 2 Months: 10 Disposables Price: $344 Cost: $76.80 = $76.
Slide 15: Business Model
15 | Business Model . New microfluidics technology allows for low - cost pumping of insulin. New design philosophy makes product simple enough for provider driven sales. Enables a classic pharma style business model And a more rapid path to profitability. $4,128 Revenue Per Patient/Year 1 75 % Gross
Slide 16: Timeline
16 | 2024 Q1 Q2 Q3 Q4 Timeline . Approval: 510(k) Predicate device approval pathway for FDA label. Same label as Omnipod. Testing is based on benchtop tests , no human trials required (no insulin pump has done pre - approval human trials) Submission: First FDA meeting was held in Nov. 2019. Second m
Slide 17: Product Roadmap: The Path to the Artificial Pancreas
17 | 3 1 MODD 1 (Basal with user Bolus) 2 MODD 1+ (Cell phone controlled adjusted by algorithm) MODD 2 (Autonomous, multiple chamber, drug revenue) Product Roadmap . The Path to the Artificial Pancreas Currently under research and development, not available for investigational use or sale
Slide 18: Enhanced Modular Patch Pump: Cell Phone Controlled (MODD1+)
18 | Cell Phone Controlled In Development 50% complete CGM Integration Allows algorithms to adjust basal rate for meals and exercise. Ease of Use Same modular design and ease of use as MODD1, with enhanced control functionality. 2 - Factor Authentication Allows use of user's own cell phone as contro
Slide 19: MODD2 Artificial Pancreas: The Future of Care
19 | As Controller CGM Integration Allows Algorithms to Adjust Basal Rate For Meals and Exercise Ease of Use Same Modular design and ease of use as Pivot G - 1, with enhanced control functionality. Enhanced Modular Patch Pump: Cell Phone Controlled 2 Factor Authentication Allows use of Cellphone Art
Slide 20: European Market Opportunity
20 | $156B spent annually in diabetes healthcare costs 3 $1 in $4 global diabetes spending occurs in this region 2 60 MILLION people have diabetes in Europe 1 1 WHO – Europe Regional Office website; 2. International Diabetes Federation Atlas, 2017; 3. IDF, 2015 EU: Single - Payors Want Lower Overall
Slide 21: Industry Validation
21 | Industry Validation Manufacturing and design collaboration with Phillips - Medisize, a $4 billion annual revenue corporation. Former CEO of Insulet, Duane DeSisto, joined Board of Directors. Collaboration with Glooko for patient data upload - download. Glooko’s platform has been deployed in 8,0
Slide 22: Recent Developments in the Insulin Pump Market
22 | Recent Developments in the Insulin Pump Market . Tandem Diabetes purchased AMF’s Sigi Patch Pump in December 2022 for 62M CHF (approx. $69M USD) and 129.6M CHF (approx. 143M USD) in milestones and earnouts First pre - clearance purchase of an insulin pump company since 2010 (Roche purchased SNA
Slide 23: The Team
23 | The Team . Paul DiPerna Chairman & CTO 30 years of experience in medical device industry Led over 10 projects to FDA approval Founder Tandem Diabetes (TNDM:NAS) Designer and lead developer of t:slim pump, a leading insulin pump in type 1 diabetes Founder and CEO, Modular Medical: an innovative
Slide 24: Capital Structure
24 | Share Structure (at September 30, 2023) 21.1 M TSO 26% Executive & Insider Ownership 1.3 M Warrants at $0.01 Strike Price 5.1 M Warrants at $1.22 - $1.32 Strike Price 6.2 M Warrants at $6.00 - $6.60 Strike Price 2.9 M Options at $4.54 WAEP 0.2 M RSUs 37.6 M Fully Diluted Stock Information NASDA
Slide 25: Investor Relations
25 | Investor Relations ir@modular - medical.com NASDAQ:MODD
Slide 26: Appendix
26 | Appendix .
Slide 27: T1D Insulin Pump Comparisons (US Market)
27 | 200 units/2mL 300 units/3mL 300 units/3mL 300 units/3mL Reservoir Size Pump: $0 Disposables: $437/month (PBM Pricing) Pump: $4,600 Disposables: $148/month Pump: $4,200 Disposables: $134/month Pump: $0 3 - Day Disposables: $349/month (PBM Pricing) Pump Cost No Yes No Yes Monitorable Via Cell Pho
Slide 28: Enhanced Modular Patch Pump: Artificial Pancreas Will Be Multi-Chamber
28 | Enhanced Modular Patch Pump: Cell Phone Controlled 2 Factor Authentication Allows use of Cellphone As Controller CGM Integration Allows Algorithms to Adjust Basal Rate For Meals and Exercise Ease of Use Same Modular design and ease of use as Pivot G - 1, with enhanced control functionality. Art
Slide 29: MODD Clinical Advisors
29 | MODD Clinical Advisors . Bruce Bode, MD: Among the top tier of insulin and insulin pump kols in the world (atlanta, practicing) Orville Kolterman, MD: Led the development of symlin (pramlintide) and byetta / bydureon (exenatide) at amylin pharmaceuticals (san diego, practicing) Poul Strange, MD
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