Envoy Medical, Inc. · NASDAQ:COCH
Envoy Medical — Investor Presentation (July 2024)
28 slides from Envoy Medical's investor presentation, July 2024
Slide 1: Hear for Life – Investor Presentation July 2024
Hear for Life INVESTOR PRESENTATION July 2024 www.envoymedical.com NASDAQ: COCH
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as “estimate,” “plan,” “p
Slide 3: Investment Overview & Key Metrics
INVESTMENT OVERVIEW & KEY METRICS ENVOY MEDICAL Envoy Medical (NASDAQ: COCH): NASDAQ: COCH • Innovative hearing health company based in the Stock Price United States (MN) focused on hearing implants. $2.30 (as of 7/1/24) • Leading the way in “fully” or “totally” implanted Cash Balance $4.9M hearing
Slide 4: Product Overview
PRODUCT OVERVIEW Esteem® FI-AMEI We are different because our devices: • The only company in the world that has successfully • Leverage the natural ear to pick up sound. obtained a fully implanted hearing device approved by the FDA. • Do not rely on artificial microphones. • Recently introduced bipa
Slide 5: How Sound Travels Through the Ear
HOW SOUND TRAVELS THROUGH THE EAR 1 3 Outer ear collects The waves are sound waves and transmitted mechanically funnels them to the through the ossicular ear canal chain to the cochlea 4 The cochlea converts sound waves to electrical signals which travel to the brain via the auditory nerve 2 Sound w
Slide 6: Source of Most Hearing Loss – The Cochlea
SOURCE OF MOST HEARING LOSS – THE COCHLEA • The cochlea, or inner ear, is filled with fluid and contains thousands of tiny hair cells that move as sound vibrations are transferred from the middle ear to the cochlea. • Hair cell movement causes signals to be sent via the hearing nerve to the brain wh
Slide 7: Acclaim CI, Esteem FI-AMEI, Hearing Aids
Nasdaq: COCH Acclaim CI Hearing Aids Esteem FI-AMEI 7
Slide 8: Nature's Microphone – The Ear
NATURE’S MICROPHONE – THE EAR Both of Envoy Medical’s devices leverage the ear’s anatomy. There is nothing in the ear. Sound enters the outer ear and funnels down the ear canal causing the eardrum to vibrate. All as nature designed and intended. Total of Pinna and Resonance 20 Ear Canal Pinna Effect
Slide 9: Hearing Loss: Global Market
HEARING LOSS: GLOBAL MARKET Key Facts from the World Health Organization1: • More than 1.5 billion people may have some form of hearing loss during their lifetime. • Approximately 430 million of those individuals have “disabling hearing loss” that requires intervention.2 • By 2050, these numbers are
Slide 10: ~2.8M U.S. Adults May Be Candidates for Cochlear Implants
~2.8M U.S. ADULTS MAY BE CANDIDATES FOR COCHLEAR IMPLANTS1 Only ~5%-8% of the people that could benefit from an implantable hearing solution have received one.2 Our View: a primary reason adults do not get cochlear implants is the external hardware. • “Hearing loss is the third most common chronic p
Slide 11: Traditional Cochlear Implants
TRADITIONAL COCHLEAR IMPLANTS Cochlear implants replace the function to the inner ear by providing direct electrical stimulation of the auditory nerve. Sound processor - External Sound 2 Picked Up by • Picks up and processes sound into digital information. External Microphones Implant - Internal • R
Slide 12: Fully Implanted Cochlear Implant: An Obvious Opportunity
FULLY IMPLANTED COCHLEAR IMPLANT: AN OBVIOUS OPPORTUNITY • Envoy Medical believes that if, given an opportunity to choose between a fully- implanted cochlear implant with no externals, and a partially-implanted cochlear implant with externals, a significant portion of patients would choose a fully i
Slide 13: Acclaim CI Expects to Be First Fully Implanted Cochlear Implant
ACCLAIM® CI EXPECTS TO BE FIRST OF-ITS-KIND FULLY IMPLANTED COCHLEAR IMPLANT (FICI) DEVICE DISCREET • No need for externally worn components. • Designed to use the ear to pick up sound. No external artificial microphone needed. DEPENDABLE • Designed to allow true 24/7 hearing. • For use in many envi
Slide 14: Product Overview – Esteem FI-AMEI
PRODUCT OVERVIEW – ESTEEM® FI-AMEI Product Summary The Esteem® FI-AMEI is the first and only FDA- approved, fully-implanted active middle ear implant (FI-AMEI) 1. The Envoy Sensor converts the vibrations into electrical signals that are sent to the implanted Esteem Sound Processor. 2. The Esteem Sou
Slide 15: Three Fully Implanted Components
THREE FULLY IMPLANTED COMPONENTS The Esteem® FI - AMEI Opportunity Driver Sensor Sound Processor Nasdaq: COCH 15
Slide 16: How the Esteem FI-AMEI Hearing Implant Works
HOW THE ESTEEM FI-AMEI HEARING IMPLANT WORKS For illustrative purposes only. Experience and results may vary. Nasdaq: COCH 16
Slide 17: Complacent Existing Participants
COMPLACENT EXISTING PARTICIPANTS Market Share: ≈65% Market Share: ≈10% Market Share: ≈15% (ASX: COH) (SWX: SOON) $1.2B Revenue $3.9B Revenue Privately Held ~$9.9B Market Cap1 ~$15.8B Market Cap SOURCE: Cochlear Ltd. SOURCE: Advanced Bionics COMPANIES DESCRIPTION Revenue (USD)1 Gross Margin (%) 1 Mar
Slide 18: Envoy Medical Could Disrupt a Multi-$B Cochlear Market
ENVOY MEDICAL COULD DISRUPT A MULTI-$B COCHLEAR MARKET part of Feasibility Study on Record • (USA) • (Australia) • (Europe) x Breakthrough Device Designation from U.S. FDA for Fully Implanted Cochlear Implant • x x x Investigational Device Exemption (IDE) to implant U.S. patients (Early Feasibility
Slide 19: Revenue Growth & Shareholder Return
REVENUE GROWTH & SHAREHOLDER RETURN Implantable Device Market Opportunity Inspire disrupted the sleep apnea market with the first Current incumbent market leader in cochlear implants implantable device generated material shareholder return since its IPO in 1995 2015-2023 Revenue1 Total Shareholder R
Slide 20: Illustrative Track to Commercialization
ILLUSTRATIVE TRACK TO COMMERCIALIZATION Q2 2023 Colin Driscoll, MD Planned Funding Commercialization ACIA Presentation FDA Breakthrough Q3 2022 ~$40-50M & Granted EFS IDE Accepted to FDA approval Market Acceptance (estimated) / Reimbursement 2019 2022 2023 2024-2025 2026 Q4 2022 Q4 2024 2024 – 2025*
Slide 21: Contact Details
Contact Details Investor & Media Relations: Louie Toma CoreIR (774) 291-6000 [email protected] www.envoymedical.com/investors
Slide 22: Appendix
ot = Mhaanebe
Slide 23: Hearing Loss: Types and Severity Overview
HEARING LOSS: TYPES AND SEVERITY OVERVIEW Hearing loss can be due to damage of the outer/middle (conductive) or inner (sensorineural) ear and can range from mild to profound. Hearing Loss Severity of Hearing Loss Category dB Loss example Conductive Sensorineural Hearing loss due to problems with ear
Slide 24: Discreet and Implantable Medical Technology Continues to Innovate Markets
DISCREET AND IMPLANTABLE MEDICAL TECHNOLOGY CONTINUES TO INNOVATE MARKETS Sleep Glucose Fully Implanted Apnea Pacemaker Monitoring Cochlear Implants Source: Mayoclinic.org Source: mddionline.com Source: senseonics.com FDA Approves Inspire® FDA approves the first FDA approves first continuous FDA Bre
Slide 25: Envoy's Rechargeable Battery Expected to Last Several Days Between Charges
ENVOY’S RECHARGEABLE BATTERY EXPECTED TO LAST SEVERAL DAYS BETWEEN CHARGES Rechargeable Implanted Batteries Enhance Quality Of Life Cochlear Implant Deep Brain Stimulation System Remain mobile while Envoy’s battery is charging with the charging similar to other system medical devices with implanted,
Slide 26: Key Leaders – Management Team
KEY LEADERS – MANAGEMENT TEAM Executive Summary Brent T. Lucas, CEO Mr. Lucas has been the Chief Executive Officer of Envoy Medical Corporation for the last seven years and brings over 15 years of experience in the active implantables in the hearing health industry. He has served in various roles an
Slide 27: Envoy Medical, Inc. Board of Directors
Envoy Medical, Inc. Board of Directors Chuck Brynelsen Susan Kantor Janis Smith-Gomez Michael Crowe Mona Patel Brent Lucas Glen Taylor Independent Director, Independent Director, Independent Director, Independent Director Independent Director, CEO of Envoy Chairman Emeritus Board Chair Audit Com mit
Slide 28: Cochlear Implant Advisory Board
Cochlear Implant ADVISORY BOARD Who Are We? Audiologists Surgeons Dave Fabry, Ph.D., CIO ǀ Starkey Hearing Technologies Dr. Colin L. Driscoll, M.D. ǀ Mayo Clinic (Rochester, MN) Jannine “Jan” Larky, M.A. ǀ Stanford Ear Institute (Palo Alto, CA) Dr. Elizabeth “Liz” Toh, M.D. ǀ Lahey Hospital & Medica