Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Investor Presentation (August 2021)
28 slides from Nova Eye Medical's investor presentation, Aug 19, 2021
Slide 1: Nova Eye Medical Limited (ASX:EYE) Results Presentation FY21
1 First iTrack™ surgical case performed in MAGIC Study. David Lubeck, MD (left) and Shamil Patel, MD, MBA (right). Nova Eye Medical Limited (ASX:EYE) Results Presentation for the Year Ended 30 June 2021 19 August 2021
Slide 2: Disclaimer
2 Disclaimer: This presentation has been prepared by Nova Eye Medical Limited (ASX: EYE). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any
Slide 3: Our Agenda
3 5 ASX:EYE Business Snapshot 6 ASX:EYE Corporate Snapshot 7 Nova Eye Medical (Glaucoma) § Glaucoma Market § Glaucoma Growth Preparation § Glaucoma FY21 Highlights § iTrack™ Overview OUR § Glaucoma FY21 Operating Result AGENDA 18 AlphaRET (2RT) § AMD Market § 2RT ® Market Assessment § 2RT® Developme
Slide 4: FY21 Focus
4 FY21 FOCUS We undertook a concerted effort to reset Nova Eye Medical’s global glaucoma sales, marketing, clinical and IP infrastructure to support the scale and growth of our glaucoma consumable surgical device business. We also invested in the USA regulatory pathway for 2RT®, completing an applic
Slide 5: ASX:EYE Business Snapshot
5 ASX:EYE BUSINESS SNAPSHOT Nova Eye Medical Limited (ASX:EYE) comprises two business units, glaucoma and AMD/2RT® – these segments address the leading causes of blindness in the developed world. Nova Eye Medical, Glaucoma AlphaRET, AMD Develop, market and sell comprehensive portfolio Strategy Progr
Slide 6: ASX:EYE Corporate Snapshot
6 ASX:EYE CORPORATE SNAPSHOT Nova Eye Medical Limited Exchange Australian Securities Exchange Ticker EYE Management + Board Ownership 12% Shares on Issue 143.6 million Revenues (12 months to June 2021) A$13.4 million US$ 9.9 million1 Net Tangible Assets (at 30 June 2021) A$35.3 million US$26.12 mill
Slide 7: Glaucoma
7 GLAUCOMA
Slide 8: Glaucoma Market
8 GLAUCOMA MARKET Glaucoma is the leading cause of irreversible blindness and the second leading cause of blindness worldwide. The aging global population is driving glaucoma prevalence and provides a strong platform for business growth. 131.9 million* § Advancements in diagnostic and imaging techno
Slide 9: Nova Eye Medical Is Set for Additional Glaucoma Growth
9 NOVA EYE MEDICAL IS SET FOR ADDITIONAL GLAUCOMA GROWTH With COVID-19 lockdowns we focused our efforts internally, resetting our global sales infrastructure to an operating room (OR) based model, strengthening our IP portfolio, and reinforcing our clinical and marketing effort for growth of our fla
Slide 10: FY21 Glaucoma Highlights
10 FY21 GLAUCOMA HIGHLIGHTS In FY21 we executed several initiatives to drive market awareness of the iTrack™ MIGS device, which resulted in sales growth but, more importantly, set the foundation for further growth in FY22 and beyond. Glaucoma JUNE 2021 • GLAUCOMAPHYSICIAN.NET INSIGHTS AND EMERGING C
Slide 11: 360° treatment – overcomes
11 Our proprietary iTrack™ microcatheter technology offers a number of clinical advantages over other glaucoma treatments and MIGS devices and underpins our glaucoma growth strategy. Today, iTrack ™ is recognized as a § The world’s first canaloplasty device. key player in the MIGS market and is posi
Slide 12: iTrack and Corneal Health
12 iTRACK™ AND CORNEAL HEALTH Endothelial cell loss or ECL is now recognized as an indicator of MIGS safety. Data presented during FY21 demonstrates that iTrack™ is associated with less ECL than other MIGS option. 12-month data suggests that iTrack™ may preserve "With focal-based MIGS procedures, th
Slide 13: iTrack Safety Compared with Other MIGS
13 iTRACK™ SAFETY COMPARED WITH OTHER MIGS The unique stent-free, tissue sparing mechanism of iTrack™ re-establishes natural aqueous flow to effectively reduce IOP while also preserving the health of the corneal endothelium. At American Society of Cataract and Refractive Surgeons Congress 2021 docto
Slide 14: iTrack Peer Review
14 iTRACK™ PEER REVIEW A series of prospective and retrospective data sets from the USA, Switzerland, Poland and the UK were published during the FY21 period, helping drive physician uptake of iTrack™. 24-Month Efficacy of Viscodilation of Schlemm’s Canal and the Distal Outflow System with iTrack Ab
Slide 15: iTrack Podium
15 iTRACK™ PODIUM With increased interest in ab-interno canaloplasty, a number of surgeons provided their iTrack™ clinical experience via the podium during FY21, adding significant credibility and momentum to the marketing and sales effort for iTrack™. European Society of Cataract & Refractive Surge
Slide 16: MAGIC Multi-Center Study
16 MAGIC MULTI-CENTER STUDY The prospective, multi-center MAGIC Study was initiated in April 2021 to provide clinical evidence in support of the superior clinical effectiveness of iTrack™. § There are a number of technical and surgical considerations of the iTrack™ canaloplasty microcatheter which t
Slide 17: FY21 Glaucoma Operating Result
17 FY21 GLAUCOMA OPERATING RESULT Material improvement in operating result was underpinned by a 25% increase in global sales compared to the pcp, including the addition of Molteno3® sales, and a reduction in operating costs. A$’000s (year ended 30 June) US$’000s (year ended 30 June)1 FY20 FY21 Growt
Slide 18: 2RT®, Intermediate AMD
18 2RT®, INTERMEDIATE AMD
Slide 19: In FY21 we established a special purpose company, AlphaRET
19 In FY21 we established a special purpose company, AlphaRET to focus on the 2RT® opportunity, while continuing to foster growth of our glaucoma treatment technologies under the Nova Eye Medical brand. § 2RT® (AlphaRET) is a § Age-related macular degeneration (AMD) remains the leading cause of prop
Slide 20: 2RT® Market Assessment
20 2RT® MARKET ASSESSMENT Our proprietary 2RT® nanosecond laser therapy is a world-first intervention designed to treat intermediate AMD. There is currently no treatment (drugs or devices) for the treatment of intermediate AMD. Population with Patients who do not meet Estimated population Early/Inte
Slide 21: 2RT® Development Milestones
21 2RT® DEVELOPMENT MILESTONES Our current strategy for 2RT® is to undertake a multi-center study in the USA to gain FDA clearance for the treatment of intermediate AMD. § Successfully completed Investigational Device Exemption (IDE) application with the US Food and Drug Administration (FDA) in earl
Slide 22: FY21 AlphaRET Expenditure
22 FY21 ALPHARET EXPENDITURE AlphaRET expenditure in FY21 related to the IDE submission for FDA (USA) market clearance. A$’000s US$’000s (year ended 30 June 2021) (year ended 30 June 2021) Operating Expenditure 1,128 835 § During FY21 2RT® revenue was principally per-procedure revenue from existing
Slide 23: Group Financials
23 GROUP FINANCIALS
Slide 24: FY21 Group Operating Result
24 FY21 GROUP OPERATING RESULT A$ million Nova Eye Medical (Glaucoma) Corporate Result Group Operating Group Operating (year ended 30 June) and AlphaRET (2RT) Result Result Result US$m1 FY20 FY21 FY20 FY21 FY20 FY21 FY21 Sales 12.8 13.4 12.8 13.4 9.9 COGS (excl labour) (4.4) (4.5) (4.4) (4.5) (3.3)
Slide 25: FY21 Group Cash Flow
25 FY21 GROUP CASH FLOW A$ million US$ million1 (year ended 30 June 2021) (year ended 30 June 2021) Cash generated/ (used) from operations (4.1) (3.0) (Deduct): Expenditure on 2RT (IDE) (1.1) (0.8) Repayment of leases (0.4) (0.3) New product development (0.7) (0.5) Plant and equipment acquired (0.6)
Slide 26: Group Balance Sheet at 30 June 2021
26 GROUP BALANCE SHEET AT 30 JUNE 2021 A$ million US$ million1 30 June 2020 30 June 2021 30 June 2021 Cash 95.7 17.8 13.2 Trade and other receivables 3.8 4.0 3.0 Income tax refund receivable - 1.4 1.0 Inventories 2.9 2.9 2.1 Other current assets 0.6 0.3 0.2 Property and plant 1.2 1.3 1.0 Leased prop
Slide 27: Nova Eye Group Outlook
27 NOVA EYE GROUP OUTLOOK Nova Eye Medical Limited is well positioned to propel growth of its glaucoma consumable surgical devices through FY2022 as COVID-19 vaccination rates accelerate and surgical centers re-open to patients. It will also partner the clinical program for 2RT® for the pivotal FDA
Slide 28: Contact
28 CONTACT Tom Spurling Tom Duthy, PhD Kate Hunt Investor Relations and Head of Marketing Executive Director Corporate Development M: +61 404 080 679 W: +61 8 8362 0193 M: +61 402 493 727 E: khunt@nova-eye.com E: tspurling@nova-eye.com E: tduthy@nova-eye.com
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