Novacyt SAS · EURONEXT:ALNOV
Novacyt SAS — Novacyt — FY2021 Earnings Presentation
32 slides from Novacyt SAS's earnings presentation, Apr 28, 2022
Slide 1: 2021 Full Year Results & Corporate Strategy
2021 Full Year Results & Corporate Strategy April 2022 1
Slide 2: Disclaimer
Disclaimer The document attached hereto and the presentation of which it forms part (together the “Materials”) have been prepared by Novacyt S.A. (“Novacyt” or the “Company”). The Materials are confidential and personal to you and are furnished to you as background information to provide a basis for
Slide 3: Company capabilities, vision and purpose
Company capabilities, vision and purpose Our vision Committed to becoming a leading, global clinical diagnostics company in infectious diseases Company capabilities Our purpose We protect lives from invisible threats by enabling informed clinical decision-making through quality diagnostics in the ri
Slide 4: Highly experienced executive management team
Highly experienced executive management team Presentation team • Appointed CEO of Novacyt in 2021 • Over 25 years of global experience in pharmaceuticals & biopharmaceutical companies • Appointed CFO of Novacyt in 2021 • Internationally experienced, strategic business leader • Over 30 years in inter
Slide 5: 2021 Full Year Results
2021 Full Year Results 5
Slide 6: 2021 and post-period operational highlights
2021 and post-period operational highlights • Launch of VersaLab® mobile • New contracts with WHO and UNICEF testing solutions for supply of COVID-19 tests • Launch of 15 new assays to • Growth of private testing in film support COVID-19 testing and media, cruise, education and NGO’s • Inclusion in
Slide 7: 2021 financial highlights – P&L
2021 financial highlights – P&L • Strong performance in a dynamic trading environment • Group adjusted EBITDA of £37.1m in 2021 in line with market guidance with EBITDA margins of 39%. • Operating loss of £7.8m in 2021 mainly as a result of exceptional provisions of £35.8m relating to DHSC (Operatin
Slide 8: 2021 financial highlights – balance sheet and cash
2021 financial highlights – balance sheet and cash • Cash at year-end of £101.7m compared with £91.8m in 2020 • Working capital significantly reduced post DHSC contract adjustment. • Strong balance sheet to support M&A and organic investment. 8
Slide 9: Corporate Strategy
Corporate Strategy 9
Slide 10: The growing problem with "invisible threats"
The growing problem with "invisible threats" Viruses Bacteria Fungi Protozoa Genetic drift, shift & Lack of diagnosis, 'zoonoses'. Vaccine Antibiotic resistance & effective Neglected diseases “super bugs” treatments. Anti & climate change evasion & antiviral fungal resistance resistance
Slide 11: Corporate strategy – two key imperatives
Corporate strategy – two key imperatives Revenue Future Future outbreak outbreak COVID- 19 Global first responder 'Innovation engine' Human IVD Build Instruments the base Life sciences/RUO Time Prior to the COVID-19 pandemic, Novacyt was a £10-15m life sciences/RUO business Illustrative
Slide 12: Track record as a global first responder
Track record as a global first responder Novacyt has a strong track record of being a "first responder" to disease outbreaks 2014 2020 2016 Acquisition of Acquisition of Acquisition of Lab21 Acquisition Primerdesign business of IT-IS 2006 2009 2012 2015 2017 2017 2020 2021 Listing onto First Listing
Slide 13: Evolving Novacyt beyond the pandemic – building the base
Evolving Novacyt beyond the pandemic – building the base Evolving beyond the pandemic to a sustainable growth business, serving high unmet needs in infectious diseases 2021 ~2026 80% COVID- < 10% COVID- 19 revenues Transition 19 revenues 20% non-COVID- > 90% non-COVID- 19 revenues 19 revenues Driver
Slide 14: Portfolio expansion: prioritisation matrix
expansion Portfolio Portfolio prioritisation matrix Test opportunity comparison • Market attractiveness: Addressable market/growth, Better fit unmet need, competitive intensity & reimbursement Legend • Strategic fit for Novacyt: Strategic Technical feasibility, ability to fit for Novacyt leverage/bu
Slide 15: Initial R&D priorities beyond COVID-19
expansion Portfolio Initial R&D priorities beyond COVID-19 “Fixed combinations aren’t Test opportunity Test configuration Sample type “It would be great if we could always suitable for each Winterpanel (COVID-19, Influenza a/b & run JCV and HHV-6 in-house lab, so I love the fact that Respiratory pan
Slide 16: Extensive product portfolio and deep development pipeline
expansion Novacyt has an extensive product portfolio Portfolio and a deep development pipeline Proof of concept Clinical development Regulatory Launch COVID PCR assays Non COVID LFTs Molecular (PCR) & COVID LFT (Self-Test) lateral flow portfolio Respiratory PCR Transplant PCR Gastrointestinal PCR Fo
Slide 17: PROmate workflow meets decentralised laboratory needs
Instrumentation workflow PROmate® workflow has strong potential to meet decentralised laboratory needs Lab needs Test kit features More important 1. High sensitivity / specificity Performance 2. Low risk of contamination Medium throughput 3. No extraction required scalable, semi-automated Ease of wo
Slide 18: Integrated near-patient workflow with PROmate direct-to-PCR
Instrumentation Integrated, near-patient workflow with PROmate® direct-to-PCR offers differentiated, workflow medium throughput, scalable solution taking precision diagnostics to the front line ~9090 minutes minutes Co-Prep™ automated liquid handling "Q Series" PCR, 16 & Sample collection Sample pre
Slide 19: Differentiated proposition in the decentralised market segment
Instrumentation workflow Novacyt has a differentiated proposition in the decentralised market segment Low Sample throughput High High-plex Multiplex capability Low-plex Low Space / complexity High ££££ Cost / test £ Point of need Decentralised Central labs 19
Slide 20: Global commercial reach through direct presence and distributors
Novacyt has global commercial reach through direct Geographic expansion presence and a comprehensive distributor network UK headquarter direct presence Europe Asia North America US direct APAC distributors EMEA direct presence to managed by presence and manage global key distributors Africa distribu
Slide 21: Accelerating inorganic growth through business development
development Accelerating inorganic growth Business through business development Three key areas 1. Innovation 2. Acceleration 3. Strategy of focus Accelerating the Innovation to in license molecular portfolio & develop disruptive (AMP) Strategic transactions/ clinical diagnostic M&A to diversify and
Slide 22: Building a strong sustainable growth business
Building a strong sustainable growth business and remaining agile as a global first responder Portfolio development Geographic expansion Business development Global first responder (including instrumentation) The core business will consist Direct sales, marketing, and Maintain our position as a "glo
Slide 23: 2022 and longer-term outlook
2022 and longer-term outlook ▪ Q1 2022 revenues of £13.1m (£10.1m COVID-19 related): £34.4m (£31m COVID-19 related) in Q1 2021 ▪ 67% decline in COVID-19 related revenues, faster than previously anticipated by the Board ▪ Board expectations for £35-45m 2022 full year revenues if this rate of COVID-19
Slide 24: Company capabilities, vision and purpose
Company capabilities, vision and purpose Our vision Committed to becoming a leading, global clinical diagnostics company in infectious diseases Company capabilities Our purpose We protect lives from invisible threats by enabling informed clinical decision-making through quality diagnostics in the ri
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Slide 26: Appendix
Appendix 26
Slide 27: Evolving Novacyt beyond the pandemic
Evolving Novacyt beyond the pandemic 100% • Covid portfolio will be kept current and leveraged worldwide to respond to 90% future variants but sales expected to 80% New product portfolio decline over time 70% • Existing non-COVID-19 portfolio will be 60% enhanced through development in RUO, instrume
Slide 28: PROmate is the only semi-automated closed system direct-to-PCR solution
PROmate is the only semi-automated closed system, direct-to- PCR solution based on qPCR technology with uniform reaction conditions Product Technology Uniform Pipetting Automated Thermocycler Amplification Multiplex Number of Breadth of Competitive cycling steps pipetting compatibility time samples
Slide 29: Portfolio choices based on internal expertise and primary research
Portfolio choices made on basis of internal expertise and solid primary research 8 6 1 2 2 Number of Interviews 4 4 5 4 2 0 Primary research programme United Kingdom Germany Nordics N = 18 completed Smaller / Larger / experienced inexperienced labs labs
Slide 30: Innovative platforms to leverage in infectious diseases
Innovative platforms to leverage in infectious diseases PathFlow® MyGo, Q Series PROmate® CO-prepTM Product range offering & VersaLab™ A total workflow complete solutions for solution that is nearer qPCR instruments & the diagnosis of to patient liquid handling infectious diseases on-the-go using LF
Slide 31: Board of Directors
Board of Directors • James is an experienced private equity investor, having spent over 30 years in the finance industry. • He has been involved with over 50 businesses of varying sizes and stages of development across a wide range of sectors. • He is chairman of WestBridge Capital LLP of which he w
Slide 32: Contact details
[email protected] novacyt.com Novacyt Group (UK) Unit 1,Watchmoor Point, Watchmoor Road, Camberley, Surrey, GU15 3AD, UK T +44 (0) 1276 600081 32 F +44 (0) 1276 600151