Confocal Laser Endomicroscopy Platform Large Addressable Market: Early Cancer Diagnosis in GI, Urology, Interventional 2 Pulmonology, Others
Total Page:16
File Type:pdf, Size:1020Kb
Mauna Kea Technologies Corporate Presentation - November 2018 Disclaimer • This document has been prepared by Mauna Kea Technologies (the "Company") and is provided for information purposes only. • The information and opinions contained in this document speak only as of the date of this document and may be updated, supplemented, revised, verified or amended, and such information may be subject to significant changes. Mauna Kea Technologies is not under any obligation to update the information contained herein and any opinion expressed in this document is subject to change without prior notice. • The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to the accuracy, completeness or appropriateness of the information and opinions contained in this document. The Company, its subsidiary, its advisors and representatives accept no responsibility for and shall not be held liable for any loss or damage that may arise from the use of this document or the information or opinions contained herein. • This document contains information on the Company’s markets and competitive position, and more specifically, on the size of its markets. This information has been drawn from various sources or from the Company’s own estimates. Investors should not base their investment decision on this information. • This document contains certain forward-looking statements. These statements are not guarantees of the Company's future performance. These forward- looking statements relate to the Company's future prospects, developments and marketing strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. Forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Mauna Kea Technologies draws your attention to the fact that as forward-looking statements cannot under any circumstance be construed as a guarantee of the Company's future performance and that the Company’s actual financial position, results and cash flow, as well as the trends in the sector in which the Company operate may differ materially from those proposed or reflected in the forward-looking statements contained in this document. Furthermore, even if Mauna Kea Technologies’ financial position, results, cash- flows and developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such results or developments cannot be construed as a reliable indication of the Company's future results or developments. The Company does not undertake any obligation to update or to confirm projections or estimates made by analysts or to make public any correction to any prospective information in order to reflect an event or circumstance that may occur after the date of this presentation. A description of those events that may have a material adverse effect on the business, financial position or results of Mauna Kea Technologies, or on its ability to meet its targets, appears in the "Risk Factors" section of Mauna Kea Technologies Registration Document registered with the Autorité des marches financiers on April 27, 2018 under number R.18-0429. • Certain figures and numbers appearing in this document have been rounded. Consequently, the total amounts and percentages appearing in the tables are therefore not necessarily equal to the sum of the individually rounded figures, amounts or percentages. • This document does not constitute or form part of an offer to sell or to purchase securities or the solicitation of an offer to purchase securities in the United States of America or in any other jurisdiction. The securities mentioned in this presentation have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under any other legislation of any jurisdiction in the United States of America and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act. 2 ©2018 Mauna Kea Technologies Cellvizio®: cellular vision at your fingertips First miniaturized confocal microscope designed to provide physicians and surgeons with digital cellular visualization at the bedside Investment opportunity : A highly attractive value proposition 1 First and only: Transformational probe-based Confocal Laser Endomicroscopy Platform Large addressable market: early cancer diagnosis in GI, Urology, Interventional 2 Pulmonology, others 3 Clinically-validated: 1,100+ publications on endomicroscopy Strong regulatory support: Approved in 40+ countries; 4 15 US FDA 510(k) clearances Favorable economics: Strong CMS reimbursement in the US; 5 plan to secure commercial payers 6 Utilization-focused: Driving US adoption & recurring revenue via pay-per-use model 7 New seasoned US based executive leadership to drive commercial expansion 8 Robust R&D pipeline to drive growth through application expansion 9 Broad IP protection: 236 issued patents on Cellvizio® technologies 4 ©2017 Mauna Kea Technologies A breakthrough technology platform Digital optical biopsies: a powerful new paradigm From H&E histology… one image - static view …to Cellvizio® 720 live biopsies per minute - functional view Brain Colon Esophagus “Patients are better served if biopsies can be better targeted. That’s where in vivo microscopy comes in”. 6 ©2018 Mauna Kea Technologies Versatile Cellvizio® platform reveals key invisible information pCLE (probe/catheter) Proprietary technology for virtual tissue slicing nCLE (needle) pCLE (lap / robotics) Breakthrough Confocal Laser Endomicroscopic Clinical Miniprobes Scanning through 30,000 custom optical fibers Cellvizio for various produces 12 microscopic optical sections per Platform access methods (0.8 to 2.5 mm) second during standard endoscopy procedures 7 ©2018 Mauna Kea Technologies Seamless integration into endoscopy workflow During an endoscopic procedure, an 1 area of interest is identified Cellvizio miniprobe is inserted into 2 operating channel of any endoscope Simple contact between the tip of the 3 miniprobe and the tissue generates real-time microscopic cellular images viewed directed on the Cellvizio screen Our mission: eliminate diagnostic and treatment uncertainties ©2018 Mauna Kea Technologies Core focus : Gastroenterology applications Core commercial focus: A significant Cellvizio U.S. gastroenterology market opportunity U.S. Target U.S. Procedure Key Market U.S. market Hospitals volume Drivers opportunity Society 3,000+* 3.6 recom- $2.8 billion* mendations and with large million* annual increased CMS GI volume annual upper GI reimbursement recurring procedures rates revenue * Millenium research group : Custom Urology report 2014 and 2012; 2013 U.S. laparoscopic proceduresMedtech Insight : U.S. Procedure Volume 2010iData : 2015 EUS Market; U.S. Procedure 10 volume ©20182012; 2015Mauna ERCP Kea Technologies report, M&A acquisition figures : Covidien; Medtronic Advamed presentations : 2013 Advamed presentation; E&Y; Presentations citing other sources Enhancing traditional endoscopy is a recognized need… Dr. Brian Fennerty, past President, ASGE (American Society of Gastrointestinal Endoscopy) New York Society of Gastroenterology meeting, 17 Dec 2010, New York 11 ©2016 Mauna Kea Technologies … for important reasons More than 25% of esophageal adenocarcinoma are diagnosed within a year after a negative endoscopy among adults with non dysplastic Barrett’s esophagus (or Barrett’s esophagus with low-grade dysplasia) (1) Additional resources / technologies should be allocated to detect missed cases 1.Visrodia K et al. Magnitude of Missed Esophageal Adenocarcinoma After Barrett’s Esophagus Diagnosis: A Systematic Review and Meta-analysis. Gastroenterology. 2016 12 ©2010-2018 Mauna Kea Technologies Growing, unmet need in esophageal cancer Esophageal adenocarcinoma is the fastest growing cancer2 Symptoms of acid 25% of esophageal reflux, including cancers diagnosed heartburn, within one year of occur monthly in 3 1 standard endoscopy 1 Shaheen N, Ransohoff DF. Gastroesophageal reflux, Barrett's esophagus and esophageal cancer. Journal of the American Medical Association. 2002; 44% of adults 287: 1972-1981. 2. The Wall Street Journal - Emerging Type of Heartburn Defies Drugs, Diagnosis - online.wsj.com/news/articles/ SB10001424127887323894704578115031699278010 3. K. Visrodia, at al. Magnitude of Missed Esophageal Adenocarcinoma After Barrett's Esophagus Diagnosis: A Systematic Review and Meta-analysis. AGA Institute, 2016. 13 ©2018 Mauna Kea Technologies Cellvizio addresses the Random Biopsy Limitation Seattle Protocol …random biopsy protocol can be time-consuming, expensive, and prone to sampling error, as very little of the esophageal surface area is actually sampled.”2 “biopsies of columnar lined epithelium in the esophagus[…]because of sampling error, goblet cells may not be detected, thereby 6% yield underdiagnosing BE”3 Inefficient random sampling1 The Cellvizio digital optical biopsy solution Goblet cells squamous epithelium intestinal metaplasia 1. M. Canto, et al. In vivo endomicroscopy improves detection of Barrett’s esophagus–related neoplasia: a multicenter international randomized controlled trial, GIE 2013. 2. Guidelines for Surgical Treatment of GERD. SAGES. February 2010. 14 ©2018 Mauna Kea Technologies 3.Sharma P et al. White Paper AGA: Advanced Imaging in Barrett's