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Brent Barnes Will Be Providing a Company Update The Manager Company Announcements Office ASX Limited LBT PRESENT AT AUSBIOTECH INVESTOR CONFERENCE Adelaide, Australia, 24 October 2017: Australian medical technology company LBT Innovations Limited (ASX: LBT) will be presenting at the Australia Biotech Invest conference today being held at the Sofitel on Collins Street in Melbourne, Australia. CEO and Managing Director Brent Barnes will be providing a company update. The attached presentation provides details of this update. – ENDS – About LBT Innovations LBT Innovations (LBT) improves patient outcomes by making healthcare more efficient. Based in Adelaide, South Australia, the Company has two world class-leading products in microbiology automation: MicroStreak®, which provides automated culture plate streaking and Automated Plate Assessment System (APAS®). Based on LBT’s intelligent imaging and interpretative software, US FDA- cleared APAS® automates imaging, analysis and interpretation of culture plates following incubation. LBT has entered into a joint venture Clever Culture Systems AG (CCS) with Hettich Holding Beteiligungs- und Verwaltungs-GmbH to commercialise APAS® products. LBT’s third product WoundVue® is in early development; this is a proposed automated solution to assist in the management of chronic wounds. For personal use only CONTACTS LBT Innovations Media Relations Sarah Kemter Brent Barnes Monsoon Communications Chief Executive Officer & Managing Director Tel: +61 (0)3 9620 3333 Tel: +61 (0)8 8227 1555 M: +61 (0) 407 162 530 E: [email protected] E: [email protected] Page 1 of 1 LBT Innovations Company Profile Overview LBT Innovations (ASX:LBT) uses Artificial Intelligence to provide tools that automate diagnosis of pathogens and wound care. Based in Adelaide, South Australia, the Company has delivered two world‐ class leading products in microbiology automation: Microstreak®, which provides automated culture plate streaking and Automated Plate Assessment System (APAS®). The US FDA‐cleared APAS® Independence instrument utilises LBT’s intelligent imaging, and machine learning platform to automate the analysis and interpretation of culture plates following incubation. LBT has entered into a joint venture Clever Culture Systems AG to commercialise APAS® products. WoundVue® is LBT’s third product under early development which automates chronic wound assessment using the machine learning technology. Speaker Profile Brent Barnes, Chief Executive Officer and Managing Director After launching his career with global defence contractor Thales, Brent Barnes spent 11 years in a range of senior executive roles with the pioneering Australian medical device manufacturer, Cochlear Limited. Having led an important transformation project within Cochlear’s Global Quality and Regulatory Group, Brent worked for Cochlear Americas in the United States, where he held senior operations and sales roles based in Colorado and Texas. During this time he established a US manufacturing subsidiary from the ground up, where product was manufactured and business audited by the FDA with no observations. After four years in the US, Brent relocated to Sydney and Singapore Cochlear offices as Director Asia Growth Markets & Operations, Asia Pacific. Brent is also a non‐executive director of Connek Pty Ltd, a telecommunications and IT professional services company that sub‐contracts specialist services to leading blue chip telecommunications companies working on the rollout of For personal use only Australia’s National Broadband Network. In his spare time, he enjoys a broad array of sports and tries to keep fit. A keen Aussie Rules follower, Brent is a life member of Sydney’s North Shore Bombers and, during his US posting, he played Australian Rules football for the Denver Bulldogs. For more information, please visit: lbtinnovations.com ASX code: LBT lbtinnovations.com LBT Innovations Limited (ASX:LBT) Business Update Brent Barnes Chief Executive Officer & Managing Director October 2017 For personal use only Disclaimer This document contains certain forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forward-looking statements are reasonable at this time, we can give no assurance that these expectations will prove to be correct. Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to many important factors, risk and uncertainties including, without limitation, risks associated with medical device development and manufacture, risks inherent in the extensive regulatory approval processes mandated by regulatory authorities, delays in clinical trials, future capital needs, general economic uncertainly and other risks detailed from time to time in the Company’s announcements to the ASX. Moreover, there can be no assurance that others will not independently develop similar products or processes or design around patents owned or licensed by the Company, or that patents owned or licensed by the Company will provide meaningful protection or competitive advantages. For personal use only Slide No. 1 © LBT Innovations 2017 Operating business: What are we trying to solve? For personal use only Insight: Microbiology laboratories Slide No. 2 © LBT Innovations 2017 LBT Solution: quality, efficient, automation products Process Steps for Culture Plate Flow Inoculation Identification & and Culture Incubate Plate Reading antibiotic Plate Streaking sensitivity testing Automation Automation For personal use only PREVI® Isola APAS® Independence Launched in 2009 Current Focus Launching in 2017 Slide No. 3 © LBT Innovations 2017 Executive Summary – current focus LBT Improves patient outcomes by making healthcare more effective Technology Patented artificial intelligence platform using intelligent imaging and machine learning to automate manual processes in healthcare. Product Automated Plate Assessment System (APAS®) which automatically screens and interprets microbiological growth on an agar plate Sells for ~US$300,000 plus annual software fees of ~US$30,000 Status FDA cleared after 10,000 patient clinical study Addressable market of 13,000 labs globally 1st instrument installed at St. Vincent’s Hospital, Melbourne (Sep-17) Pipeline APAS Extensions WoundVue® prototype, automating measurement and analysis of chronic wounds. Outcome Sales starting in January 2018 For personal use only Slide No. 4 © LBT Innovations 2017 APAS® Independence Automated Plate Assessment System (APAS®) - a platform technology for the automation of culture plate screening and interpretation, currently being launched by Clever Culture Systems AG, a joint venture between LBT Innovations and Hettich Holding Beteiligungs- und Verwaltungs-GmbH (“Hettich”). APAS® uses intelligent imaging and machine learning technology to read and interpret the presence of bacteria in culture plates. Features • At least 3 times more efficient than manual plate reading; • First and only (to date) intelligent imaging cleared by FDA; • Hence, only system able to be used in the US; • First to market with intelligent imaging device; • Modular design easily integrated into culture plate work flow; • More affordable stepwise entry For personal use only into lab automation. Slide No. 5 © LBT Innovations 2017 Market Need • Shortage of qualified technicians and technologists available • A 2014 study published by the College of American Pathologists (CAP) showed: • 43% of clinical laboratories surveyed reported it is difficult to find personnel and • over 8% of microbiologist’s positions remain unfilled. • Demand for diagnostic tests rising steeply • The aging and increase of chronic diseases in Western populations increases the demand for tests • 70% of diagnostic decisions are made on the basis of laboratory test results • Laboratory automation ensures consistent quality • Laboratory automation products demonstrably save time, reduce manual steps and labour • They remove the human variability resulting in lower risk for errors For personal use only Significant economic benefits to installing APAS® to help solve cost pressures on laboratories Slide No. 6 © LBT Innovations 2017 Microbiologist spend half of every day reading plates Opportunity: Nearly 50% spent of time reading plates Up to 95% are negative For personal use only * LBT time and motion study, September 2016 Slide No. 7 © LBT Innovations 2017 Global Market Opportunity – APAS® Independence Number of labs globally Small Labs Less than 400 plates 15,000 labs per day Medium Labs 12,000 labs 400 – 1,000 plates per day Total market opportunity: ~13,000 Large Labs 1,000 More than 1,000 plates per labs laboratories day Solution for all sized laboratories APAS® Independence: • First and only artificial intelligence technology in microbiology to be cleared by FDA • At least 3 times faster than manual process • For personal use only Stand-alone instrument; fast, flexible and affordable Slide No. 8 © LBT Innovations 2017 No direct competitors APAS® Independence competes against two substitutes: • Current laboratory best practice, where plates are barcoded and results are placed in a Laboratory Information Management System, but otherwise managed and screened manually. • High end (US$2.5+ million) Laboratory Automation Systems. • There are around 150 of these systems sold life to date • Provide full end-to-end streaking, incubation and visualisation on a screen for a scientist to analyse
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