Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — FY2022 Earnings Presentation
22 slides from Imricor Medical Systems's earnings presentation, Feb 23, 2023
Slide 1: FY22 Investor Presentation
For personal use only FY22 Investor Presentation February 2023 IMRICOR MEDICAL SYSTEMS, INC (ASX:IMR) WWW.IMRICOR.COM
Slide 2: Disclaimer
Disclaimer For personal use only The material contained in this presentation is intended to be general background those which we expect, depending on the outcome of various factors. Investors and others information on Imricor Medical Systems, Inc. (Imricor) and its activities. are cautioned not to p
Slide 3: Key message
Key message Imricor’s mission is to establish a new standard of care for cardiac ablations with real- For personal use only time iCMR guidance. Cardiac ablation is a US$6bn1 worldwide market Primary Drivers of Value Additional Drivers of Value • Expand indications to complex • Grow number of active
Slide 4: Key achievements in 2022
For personal use only Key achievements in 2022
Slide 5: 2022 Highlights
2022 Highlights Sites Products New Funding Secured For personal use only • 9 active sites across Europe • Second generation ablation • Secured a US$1.5 million loan catheter submitted for approval under the North Dakota • Contracted 3 new sites across in Europe Commerce Department’s Europe Innovatio
Slide 6: NorthStar 3D Mapping System
NorthStar 3D Mapping System Taking control of our timeline and future • System used successfully in For personal use only human setting with Siemens MRI platform • Planning to also apply NorthStar to other MRI platforms, such as GE and Philips • Same 3D mapping system experience no matter what kind
Slide 7: VT Trial foundations set in Europe
VT Trial foundations set in Europe For personal use only The Company has received the first of two required approvals to commence the “Vision-MR Ablation of VT” or VISABL-VT clinical trial The next and final step required to commence the trial is to receive approval from the German Federal Institute
Slide 8: Financial Performance
For personal use only Financial Performance
Slide 9: Profit and loss
Profit and loss US$’000 FY22 FY21 Commentary For personal use only Revenue 816 696 • Costs and non-R&D expenses decreased 11% primarily due to lower staffing costs ($652) and inventory reserves ($623). Costs and non-R&D expenses (9,724) (10,873) • R&D expenses decreased 19% due to lower staffing cos
Slide 10: Balance sheet
Balance sheet US$’000 Dec-22 Dec-21 For personal use only Cash and cash equivalents 5,688 18,516 Accounts receivable 126 95 Commentary Inventory 2,277 2,583 Other current assets 1,593 1,505 • Cash decreased due to continued investments in Research Total current assets 9,684 22,699 & Development coup
Slide 11: Cashflow
Cashflow For personal use only US$’000 FY22 FY21 Commentary Net loss (17,356) (19,733) • Other non-cash adjustments were down vs. prior Other non-cash adjustments 1,824 2,633 comparative period due to decreases in stock-related compensation expense. Change in other assets and liabilities (978) (389)
Slide 12: Business Update and Outlook
For personal use only Business Update and Outlook
Slide 13: FY2023 Update
FY2023 Update For personal use only • US Food and Drug Administration (FDA) has approved the Company’s application for an Investigational Device Exception (IDE) to initiate a clinical trial in the United States. • The study will include sites in the US and Europe, with an enrolment cap of 50% of the
Slide 14: Path to significant scale
Path to significant scale For personal use only Growing with Expanding Addressing Today new Geographies Entire Market Indications iCMR Atrial Flutter iCMR Ventricular Tachycardia FDA approval in US Atrial Fibrillation Ablations (AFL) in the EU Ablations (VT) in the EU Ablations (Afib) worldwide • Es
Slide 15: Our focus for the year ahead
Our focus for the year ahead For personal use only 1 2 3 Commercialisation VISABL-VT Trial VISABL-AFL Trial • Activating sites (EU) (US) • Increasing procedure • Commence trial • Commence trial volumes across active • Expected to catalyse • First major step into the sites market as value of VT is si
Slide 16: Contact Information
Contact Information For personal use only Investors & Australian Media: Simon Hinsley NWR Communications simon@nwrcommunications.com.au +61 401 809 653 Investors: Steve Wedan Executive Chair, President & CEO Email: steve.wedan@imricor.com Rest of World Media: Nick Twohy Vice President, Marketing and
Slide 17: Appendix
For personal use only Appendix FOLLOW US
Slide 18: Transitioning cardiac ablation into a new kind of lab
Transitioning cardiac ablation into a new kind of lab Conventional x-ray EP lab iCMR EP lab (interventional cardiac magnetic resonance) For personal use only X-ray to iCMR Everyone else Only Imricor Physicians, Patients, Hospitals Imricor Annual consumable device revenue per iCMR • Advantages of MRI
Slide 19: Problems solved through iCMR ablation procedures
Problems solved through iCMR ablation procedures For personal use only Visualisation Procedure effectiveness Cost Procedure time Safety • X-ray imaging provides • Inability to determine • Repeat procedures can • Conventional 3D • Patient and doctor poor heart visualisation permanency of lesions resu
Slide 20: Compelling Value Propositions
Compelling Value Propositions Imricor believes its products have the potential to successfully address unmet needs in For personal use only the cardiac catheter ablation market and deliver value to stakeholders Patient Doctor Payer Hospital ü Higher single procedure ü Improved visualisation of ü Sim
Slide 21: Imricor business model
Imricor business model For personal use only REVENUE MODEL Today Imricor Capital Equipment Consumables primarily generates (One-off sale) (Ongoing sales) Other revenue from the sale of its capital equipment and consumable products Advantage-MR EP Vision-MR Ablation IP Licensing Recorder/Stimulator C
Slide 22: A strong and growing market in cardiac ablation
A strong and growing market in cardiac ablation For personal use only Drivers of Global Catheter Cardiac Ablation Disposables Market: Ablation Market US, EU, ANZ CATHETER SALES (USD M) $9,000.00 Increased incidence of cardiac disease $8,000.00 R $7,000.00 . 2 % CAG 8 $6,000.00 Shift towards $5,000.0
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