INVES ESTOR P PRESEN ENTATION April 2020 (NZX: TRU)
A world without cervical cancer Ce Cervical Can Cancer c can an an and d sh should b d be pr prevented. Truscreen provid ides an an ac accurat ate, r real al t tim ime s screening solutio ion. Our screen eening s soluti tion is ideal f for c commu mmuniti ties es t that c t can’t t access convent ntional nal l laborat atory-enabled screening m metho hods. It i t is a affordable a and nd e easy y to l learn. n. Our pu purpo pose i is to en ensure t that a all w wome men o of s scree eening a age e – no no ma matter w who t they are e – can h n have access t to q qua uality s screening ng. 2
Cervical cancer is a major public health issue Fourth most common cancer, affecting women ► 570,000 new cases each year ► 311,000 deaths p.a. Young women in low and middle income countries (LMIC) are most at risk ► Most diagnoses occur at age 35-44 ► 85% of cases and 87% of deaths occur in LMICs 1B 1BN+ w + wom omen of of scr creening age in LMICs – this is is is o our focus 3
WH WHO GL GLOBAL TAR ARGETS F FOR OR 2030 2030 WHO h O has se s set a tar arge get t to el elim iminat inate e cer ervical al c canc ancer er by the end end of t the e 70% coverage of screening 70% Management of 90% 90% coverage of HPV cent entury (70% of women are 90% 90% of invasive Vaccination of girls screened with high- cancer cases (by 15 years of age); performance tests by the ages of 35 and 45 years) and 90% treatment of precancerous lesions; 4
The opportunity for TruScreen ► LMIC MICs – lo lowest st scre reening ra rates, h s, highest st in incid idence an and m mortalit ity r rat ates ► Innova vative service d delivery m models ls a are requ quired, if LMICs ar if are to m meet screening t tar argets ► TruSc Screen’s disrupti ptive e model el o offer ers t this No relian iance o on lab ab in infras astructure • Accurate r real t time s screening • Ea Easy t y to learn • Afforda dable • ► TruS uScreen a already h y has a presence in n many y of thes ese ma e markets – and the s e suppo pport o of Key Opini nion Leaders, N NGOs a and nd government organi nisat atio ions ns 5
T R U S C R E E N H H A S A S C LO S E S E T TO 1 b l n W n W O M E N E E L I G I B L E F O R TruScreen’s S C R E E N I N G I I N K K E Y M A R K E T S solution is ideal for Russia (44m) LMICs China (401M) Middle East Access to ‘’no lab’’, (70M) India (302M) accurate, simple to use Mexico (31m) and affordable Vietnam (30M) screening essential Zimbabwe (4M) Access to screening programs has been limited due to: ► Lack of laboratory infrastructure ► No HPV vaccination programs ► Shortage of diagnostic TruScreen’s current markets Targeting commercial roll-out technicians 6
Investment highlights The only real-time cervical screening method available in LMICs Disruptive technology, high potential Clinical and commercial validation ► Real-time, single visit, mobile screening ► Sensitivity and specificity equal to, or better, than technology alternative screening tools ► No lab infrastructure required, nurse ► Clinically tested on over 40,000 women in 25 administered studies across 20 countries ► Recognised by WHO, UNITAID and the Clinton ► Established user base / KOL support in key markets Health Access Initiative Attractive commercial model Poised for growth ► Targeting large markets ► Ramping up in existing markets to deliver sales growth amid COVID impact ► Lean distributor-based model ► New markets (India, Vietnam) coming on board ► Annuity revenue stream ► Manufacturing process enhancements to deliver double-digit margin improvement 7
Financial overview ($NZD) NZ$21.1M (as at 23 April 2020) Market cap 0.2 1.0 m $0.10 (as at 23 April 2020) Share price 0.9 m 0.18 0.8 m 0.16 0.7 m $1M (as at 31 March 2020) Cash position 0.14 Share price ($) 0.6 m 0.12 0.5 m Volume (m) Significant Consolidated Nominees 17.4% 0.4 m 0.1 shareholders 0.3 m 0.08 0.2 m Browns Island Holdings Ltd 8.8% 0.06 0.1 m 0.04 0.0 m Apr-19 Jun-19 Aug-19 Oct-19 Dec-19 Feb-20 Apr-20 Waitara Trustees Limited 7.3% Volume NZ Central Securities 5.3% 8
TruScreen Device How it works ► Low electrical charge and light examines the cervix’s surface ► Uses algorithm to determine if cervix tissue is normal or abnormal Single Use Sensor or Char arging g stat ation (SU SUS) S) 9
Competitive advantage T R U S C R E E N P A P Patients Patients ► Real-time results ► Repeat visit ► Painless ► Scraping of cervix ► Non-Invasive Clinics Clinics ► Widely varying accuracy ► Objective readings ► Human error ► Minimal training ► Labour intensive ► Cost effective ► Long wait times ► Single visit (days/weeks/months) ► Portable Technology Technology ► No requirement for lab ► Vaccines don’t cover all ► User-friendly ► HPV types ► Accurate readings 10
Sustainable ‘razor-blade’ revenue model Tr TruSc Screen dev device Compell llin ing market opportunity En End cust ustomers ► NZD $166M TruScree een’s ’s lo local l addressable market distributors t target get: p.a.* ► Public hospitals ► Private hospitals ► SUS creates annuity ► Public health revenue Singl gle e Use e Sensors initiatives (SUS) (SU ► Governments ► Non-Government ► Co-investment Organisations model with distributors, lean organizational structure * Based on TruScreen achieving 5 per cent market share of developing markets’ cervical cancer screening age population screened once every three years 11
Video: Acceptance in one of our core markets (Russia) Ple lease se c cli lick o on the foll llowi wing li link to up upload th the v video, or copy y and nd p paste th the l link nk to your ur b browser https://truscreen.com/news/truscreen-market-acceptance-russia/ 12
Our commercialization journey Setting t g the e fundam amen ental als Transforma mation Rap apid gr growt wth 2014 - 201 019 2020 - 202 2022 2022 & & onwards Rollout Gen 3 device • Commence large Rapid non-linear sales • scale pilot with China China COGA study growth CFDA approval for CDC and COGA first screening results Company growth to support • second generation exceed expectations the sales Migration to NZX device Strategic partnerships • 2014 N Nov 201 018 J Jul 201 018 O Oct 201 019 M May 2017 17 D Dec 201 018 J Jul 201 018 D Dec 20 2019 Se Sep Strengthen / growing team • Recovery COVID-19 • Listing on Listing on 523% sales Recognition Margin improvement • NZAX NZAX growth in H1 by World Further roll-out in China & • Health Russia Organization Setting commercial roll-out • in Vietnam and India 13
Growth Strategy Driv ive ad adoption in in Rele lentless f ss focus o s on Expand anding ing c clinic ical al s support Enh Enhance t team c capabilities esta tablished markets a and nd produc uct q qua uality and nd new ew m marke kets innova vation ► Hiring of high profile ► New clinical publications ► Continue roll-out in more ► New Quality Assurance executives with expertise under MAC supervision in medical devices / LMIC established markets (QA) systems ► Continue local trials to markets (CEO, CTO) (China, Russia, Zimbabwe) implementation ensure local KOL support ► Leverage digital solutions ► Drive adoption and ► Ongoing improvement of ► Launch online education for QA, training & prepare roll-out in India device in line with module with certification education, sales support and Vietnam based on feedback from markets to prepare the company successful clinical trials ► Grow the team in line with ► Generation 3 product for rapid expansion finalized recently sales progress/business development and launch ► Seed in promising LMIC needs markets (Eastern Europe, ► Establish on-going team Asia Pacific) upskilling 14
Key markets Ke Key M y Markets China na – Most Ad Advan anced M Mar arket & Lar argest Opportu tunity ty Distribution/ Number of of Screeni eening ng NGO/KOL Pilot ot Market sale les devi vices po popu pulation engagement ement program ► Truscreen’s largest market (57% of sales) commenc menced ed install lled 401M Yes Yes Yes 49 ► World’s largest cervical cancer market Ch Chin ina ► First distribution agreements signed in 2014 Mexico 31M Yes Yes Yes 10 ► Pilot program of 20,000 women with Centre for Disease Control (CDC) Russi ssia 44M Yes Yes Yes 29 ► Clinical study with Chinese Obstetricians & Gynaecologists Association (COGA) of 20,000 India ia 300M Yes Yes No 0 women in public hospitals – results from Hunan province released and exceeded 30M Yes Yes No 0 expectations Zimbabw bwe ► Hospital usage of SUS: Up to 1,000 per month Vietnam 26M Yes Yes No 0 15
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