CA Healthcare Acquisition Corp
CA Healthcare Acquisition — SPAC Merger (July 2021)
73 slides from CA Healthcare Acquisition's SPAC merger presentation, Jul 16, 2021
Slide 1: Transforming Community-Based Healthcare Analyst Day
Transforming Community - Based Healthcare Analyst Day July 16, 2021 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 2: Disclaimer
2 This presentation (together with oral statements made in connection herewith, this “Presentation”) is provided for informatio nal purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential b us iness combination between LumiraDx Limi
Slide 3: Agenda
Agenda Topic Speakers Time (min) Vision, Strategy and Business Update Ron Zwanziger 10 Product Demo Lois Bello 10 Technology Overview Nigel Lindner 20 Manufacturing Approach David Lang 10 Questions & Answers All 10 Market Opportunity and Product Strategy Pooja Pathak, Nigel Lindner 40 Questions & An
Slide 4: Introduction To The LumiraDx Presentation Team
Introduction To The LumiraDx Presentation Team Dorian LeBlanc, C.P.A. CFO and Vice President, Global Operations Veronique Ameye Executive Vice President and General Counsel Nigel Lindner, Ph.D. Chief Innovation Officer Pooja Pathak Chief Product Officer Ron Zwanziger CEO, Co - Founder, Chairman and
Slide 5: Current Point of Care (POC) Solutions Have Major Limitations
Current Point of Care (POC) Solutions Have Major Limitations The traditional approach to POC test development has limited scalability and has resulted in ineffective, inefficient and costly solutions Poor clinical performance in areas of high clinical need Limited test menu High cost of total ow
Slide 6: Innovative, Disruptive Solution for POC Testing
We Have Developed and Commercialized an Innovative, Disruptive Solution for POC Testing Consolidating multiple POC systems onto a single instrument, the LumiraDx Platform is designed to be a one - stop solution to transform diagnostic testing and health outcomes around the world Lab - comparable per
Slide 7: Business Momentum: COVID-Deployment Accelerated Our Plans
Business Momentum: COVID - 19 Deployment Accelerated Our Plans 7 2019 2021 2021 (06/30) Instruments 200 8,000 15,000 Manufacturing capacity / month 4Million 16Million 28Million Countries served 6 27 90+ Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For d
Slide 8: Key Takeaways For Today
Key Takeaways For Today Management Team Experienced team of diagnostics industry professionals with a long - term track record of success Transformative Technology The LumiraDx platform technology delivers fast lab - comparable performance at the POC through a portable digitally connected system. Ma
Slide 9: Demo
Demo 9 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 10: Technology Overview
Technology Overview 10 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 11: Key Takeaways: World-Class Technology Platform
Key Takeaways Requirements of a successful POC diagnostics platform Lab comparable performance, differentiated versus legacy lateral flow technology Simple, versatile and scalable strip design enabling broad test menu at low cost World - Class Technology Platform Nigel Lindner, Ph.D. Chief Innovatio
Slide 12: POC Diagnostic Platform Requirements
POC Diagnostic Platform Requirements Portable, Seamless Connectivity Lab Performance and Quality Oversight Many Diagnostic Assays > Single Platform One Simple, Intuitive Test Workflow Fast Results in Min utes Room Temperature Consumable Storage All Common Clinical Samples Built on a Low Cost, High V
Slide 13: Platform Simplifies, Scales Down and Integrates Lab Principles
LumiraDx Platform Simplifies, Scales Down and Integrates Principles Used in Lab Systems LumiraDx Platform Central Lab System Common Transduction Fluorescence / electrochemical Fluorescence / chemiluminescence Precise Fluidic Control Piezo bender / test strip bladder Syringe pumps No Sample Matrix Bi
Slide 14: Flexible and Accurate Strip and Instrument Interaction
Flexible and Accurate Strip and Instrument Interaction 4 Channel Immunoassay Strip Test Strip Instrument connectors Sample application port Alignment rib Capture and read zone Assay channel Unique Identifier on back of strip 14 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights R
Slide 15: Microfluidic Immunofluorescence Technology Drives High Sensitivity
Sample added 1 Next Gen, Microfluidic Immunofluorescence Technology Drives High Sensitivity At POC Sample and reagents actively mixed in channels 3 12 Minutes 4 Sandwich assay binding 2 SARS - CoV - 2 NP Present in the Sample Fluorescent Latex Latex Mag Mag Particle SARS/SARS - CoV - 2 NP Ab - Latex
Slide 16: Multiple Sample Types and Test Technologies on Common Strip
Allows for Multiple Sample Types and Test Technologies on Common Strip Architecture Immunoassay Enzyme Molecular 16 Electrolytes / Blood Gas Clinical Chemistry Hematology Fingerstick blood Venous blood/ Plasma/Serum Nasal/Nasopharyngeal Throat Swab + Saliva Urine Test Technologies Sample Types Confi
Slide 17: Smart Connectivity
Smart Connectivity Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 17
Slide 18: COVID-Antigen Test Effectively Detects Variants of Concern
LumiraDx COVID - 19 Antigen Test Effectively Detects Variants of Concern Mutation No of Clones Sequenced Observed Frequency Reactivity in LumiraDx SARS - CoV - 2 Ag Test N 203 R K 888363 56.41% Positive N 204 G R 837294 53.17% Positive N 235 S F 661535 42.01% Positive N 3 D L 655262 41.61% Positive
Slide 19: Manufacturing Video
Manufacturing Video 19 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 20: Question & Answer Session
Question & Answer Session 20 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 21: Market Opportunity and Product Strategy
Market Opportunity and Product Strategy 21 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 22: Defining the Path to Capturing and Growing POC Market Share
Defining the Path to Capturing and Growing POC Market Share Nigel Lindner, Ph.D. Chief Innovation Officer Pooja Pathak Chief Product Officer Key Takeaways A large and underpenetrated testing market represents a significant opportunity for LumiraDx Partnerships and execution across three core market
Slide 23: Large and Underpenetrated Testing Market
$14.4B $97.4B $11.8B $51.7B $15.0B $4.5B Self - Testing POC Covid - 19 Ag & Ab Professional POC Central Lab Covid - 19 Molecular Total Central Lab LumiraDx POC Other POC Large and Underpenetrated Testing Market Note: Global Diagnostics Testing Market and Testing Prices based on company estimates and
Slide 24: Platform Designed to Grow POC Testing Market Penetration
LumiraDx Platform Designed to Grow POC Testing Market Penetration Across Technology Categories Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Technology Technical Requirements POC ($B) Lab IVD (B) % POC Current 2022 Immunoass
Slide 25: Platform Solves Unmet Needs Across Market Segments
Our Platform Solves Unmet Needs in Diagnostic Care Across Market Segments To Drive Growth LumiraDx Physician Office / Retail / Pharmacy Acute / Emergency Care Global Health Current Addressable Market at POC ~$3,300M ~$1,550M ~$370M TAM ~$5,450M ~$3,050M ~$1,020M Strategic Partners UNMET NEEDS IN DIA
Slide 26: 2021-2022 Platform Focus on Largest Testing Needs
2021 - 2022 Platform Focus on Largest Testing Needs in Community Based Care Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Test IVD Category Market Segments CE Mark 1 FDA Submission 2 TAM 3 COVID - 19 antigen Immunoassay Phys
Slide 27: Amira Focused on COVID Near Term, Broader Screening Later
Amira Focused on COVID - 19 Near Term, With Broader Screening and Home Testing Capabilities Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Amira Test Strip and Carton LumiraDx Engage App Amira Device Near Term Mid - Term Long
Slide 28: Customer Focused Growth Strategy: 3-Year Roadmap
Customer Focused Growth Strategy: 3 - Year Roadmap Physician Office / Retail / Pharmacy Acute / Emergency Care Global Health Install Base 5,000+ 2,000+ 5,000+ Commercially Available INR D - Dimer COVID - 19 Antigen COVID - 19 Antibody D - Dimer COVID - 19 Antigen COVID - 19 Antibody COVID - 19 Antig
Slide 29: Physician Office / Retail / Pharmacy / Urgent Care
Physician Office / Retail / Pharmacy / Urgent Care Market Opportunity and Product Strategy 29 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 30: Product Strategy & Pipeline
LumiraDx Product Strategy & Pipeline Commercially Available H2 2021 – H2 2022 2023 – 2024 Plan Consolidate 4 - 5 existing POC Testing Areas onto single POC platform • COVID - 19 Antigen • COVID - 19 Antibody • INR • RSV + COVID - 19 Antigen • Flu A/B + COVID - 19 Antigen • HbA1c • CRP • Strep A • He
Slide 31: Opportunity to Grow POC Testing in Physician Office, Retail, Urgent Care
~$2,900M ~$5,450M ~$1,900M $0M $1,000M $2,000M $3,000M $4,000M $5,000M $6,000M ~$200M ~$200M Consolidation of 4 - 5 Existing POC Platforms Complementary Assays to Improve Chronic Disease Mgmt at POC ~$250M TAM Fast, Accurate Testing Solutions for Sexually Transmitted Disease Substantial Opportunity
Slide 32: Builds Broad Testing Menu and Volumes Per Customer
Builds Broad Testing Menu and Volumes Per Customer Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Illustration: US Physician Office Group Total Revenue Per Year YEAR 1 YEAR 2 YEAR 3 Test Volume ASP Revenue Test Volume ASP Rev
Slide 33: Flu A/B + COVID POC Testing Near-Term Revenue Opportunity
Flu A/B + COVID - 19 POC Testing is Significant Near - Term Revenue Opportunity 33 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. $1.5 - 3B TAM • $20 - 25 est market price • Combo reimbursed at $63 - 73 in US vs. $43 for COVI
Slide 34: Unmet Need for High Sensitivity Flu A/B + COVID Combo Test
Unmet need for High Sensitivity Flu A/B + COVID - 19 Combo Antigen Test TRUE POC Product Needs Quidel Sofia BD Veritor Technology Next - gen technology with reduced interferences Lateral Flow with Reader Lateral Flow with Reader Reference Molecular Molecular (COVID) Culture (Flu) Molecular (COVID) M
Slide 35: Flu A/B & COVID-19 Antigen Product Concept and Workflow
Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. C - QMS - FRM - 40184_PPT MASTER R2 Flu A/B & COVID - 19 Antigen Product Concept and Workflow Approximately 1 min prep time, <12min test time Identical to COVID - 19 Ag test
Slide 36: Current Assay Performance
Current Assay Performance Analytical gravimetric sensitivity for Flu A/B comparable to COVID - 19 Ag <1pg/ml – best in class 36 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. CC
Slide 37: Current Assay Performance
Current Assay Performance Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 37
Slide 38: Acute Care / Hospital Emergency Department
Acute Care / Hospital Emergency Department Market Opportunity and Product Strategy 38 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 39: Product Strategy & Pipeline
LumiraDx Product Strategy & Pipeline Commercially Available H2 2021 – H2 2022 2023 – 2024 Plan Launch hsTroponin and cardiac test menu into acute care / hospital ED market • D - Dimer • Troponin/hsTroponin • BNP/NT - proBNP • CK - MB • Myoglobin Consolidate acute care testing needs (respiratory, Hos
Slide 40: Opportunity to Grow POC Testing in Acute Care
Note 1: Current Addressable Market at POC and TAM estimates include products on market and in development Note 2: Market Sizes do not include COVID - 19 testing market ~$500M ~$3,050M ~$1,050M ~$1,050M ~$450M $2,000M $0B $1,000M $3,000M $4,000M TAM High Sensitivity, True POC Cardiac Assay Developmen
Slide 41: Builds on Key Customer and KOL Network
Builds on Key Customer and KOL Network to Develop the Market Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 41 Countries covered Market Development Initiatives • Working with KOLs: • Professor Nick Mills (UK) • Professor Rick
Slide 42: Unmet Need for High Sensitivity Troponin POC Test
Unmet Need for High Sensitivity Troponin POC Test Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. True POC Needs Lab Reference Abbott Architect STAT hs - TnI POC Example Siemens Atellica VTLi hs - cTnI POC Example Triage True
Slide 43: Troponin I - Current Assay Performance
Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 43 Troponin I - Current Assay Performance
Slide 44: Global Health Market Opportunity and Product Strategy
Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Global Health Market Opportunity and Product Strategy 44
Slide 45: Product Strategy & Pipeline
LumiraDx Product Strategy & Pipeline Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. *Note: leveraging immunoassay technology Commercially Available H2 2021 – H2 2022 2023 – 2024 Plan Grow POC testing in current Global Health
Slide 46: Opportunity to Grow POC Testing in Global Health
Note 1: Current Addressable Market at POC and TAM estimates include products on market and in development Note 2: Market Sizes do not include COVID - 19 testing market Substantial Opportunity to Grow POC Testing in Global Health Segment Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All
Slide 47: Builds on Current Install Base and Commercial Support Model
Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 5,000+ Platforms in Global Health setting Market Development Initiatives • SARS - CoV - 2 Ag evaluation/surveillance in South Africa • CRP testing for suspected TB • Regulatory s
Slide 48: Unmet Need for Fast, Accurate TB Test at POC
Unmet Need for Fast, Accurate TB Test That Can Be Used at POC TRUE POC Product Needs GeneXpert MTB/RIF Cobas MTB Technology qSTAR Real time PCR Real time PCR Reference Molecular (Sputum) Culture Culture Sensitivity Oral Swab: ≥90% Raw Sputum & Sediment: 93.8% (n=468) Raw Sputum: 94.9% (n=412) Sputum
Slide 49: TB Product Concept and Workflow
TB Product Concept and Workflow Heat Sample Collection Sample Lysis 10 minutes Insert Strip Amplification 10 minutes Analysis and Report Total Test Time: ~20 Minutes Quick oral swab vs. sputum sample Safe workflow for POC use, high complexity lab set not required Run time in minutes not hours 49 Con
Slide 50: Current Assay Performance
Current Assay Performance Current test development demonstrates nucleic acid amplification of Mycobacterium Tuberculosis (TB) meeting the product requirement Oral swab collection method for safe and convenient patient sampling has been developed 50 Confidential and Proprietary Copyright © 2021 L
Slide 51: Customer Focused Growth Strategy: 3-Year Roadmap
Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. C - QMS - FRM - 40184_PPT MASTER R2 Customer Focused Growth Strategy: 3 - Year Roadmap Physician Office / Retail / Pharmacy Acute / Emergency Care Global Health Install Base 5,00
Slide 52: Question & Answer Session
Question & Answer Session 52 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 53: Commercial Strategy and Update
Commercial Strategy and Update 53 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 54: Enabling A Global Growth Strategy
Enabling A Global Growth Strategy David Walton, D.M.S. Chief Commercial Officer We are a global company with employees, partners, and customers located around the world Delivering a superior value proposition to customers versus the current options on the market Case studies of successful partnershi
Slide 55: Global Commercial Footprint
Direct (Current) Direct (Planned) Global Commercial Footprint • >1,550 employees, of which >200 are commercial employees located in 27 countries • Direct sales operations in Western Europe, USA, Japan, Colombia, Brazil, India and Africa • Distribution in another >30 countries. Total reach >90 countr
Slide 56: 15K Platform Placements Globally and Further Market Access Plans
15K Platform Placements Globally and Further Market Access Plans Instrument Placement Locations North America • US registered: COVID - 19 Ag (EUA), COVID - 19 Ab (EUA submitted) • Canada: COVID - 19 Ag submitted Europe and Middle East • CE Mark: COVID - 19 Ag, COVID - 19 Pool, COVID - 19 Ab, INR, D
Slide 57: UK Dept of Health and Social Care
UK Dept of Health and Social Care Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. • High performance of COVID - 19 Ag test in DOH Technical Evaluations • Used by a large number of EDs • INR Total solution • Client and KOL rela
Slide 58: High Sensitivity COVID-Ag Testing at the Belfast Trust ED Discharge Unit
Implementation of high sensitivity COVID - 19 Ag testing at the Belfast Trust ED discharge unit in the UK Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Legend: PCR Testing LumiraDx Platform Standard discharge procedures Pati
Slide 59: Implementation of POC INR Solution in UK
Implementation of POC INR Solution in UK Connected, streamlined, and integrated system with fewer practice leads, all nurses use the same platform and perform targeted testing at many settings to improve patient experience Siloed, practice - based system with their own practice leads, nurses, platfo
Slide 60: Italian Department of Health
Italian Department of Health Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. • Entry via regional tender wins vs Roche • Only platform with INR and D Dimer • Microfluidic rapid testing with high sensitivity and specificity • E
Slide 61: US Retail Pharmacies
US Retail Pharmacies Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. • Superior (lab - comparable) performance of LumiraDx COVID - 19 Ag test over alternative LF tests • Rapid microfluidic technology with high sensitivity and
Slide 62: Helping Re-Open the Economy with Connected COVID-19 Testing
Helping Re - Open the Economy with High Sensitivity, Connected COVID - 19 Testing PCR too slow and expensive, lateral flow too insensitive Governments and organisers define how to move forward with major events LumiraDx Ag test has high sensitivity and can be used online to get test results in less
Slide 63: Financials
Financials 63 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.
Slide 64: Attractive Financial Forecast
Attractive Financial Forecast Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. C - QMS - FRM - 40184_PPT MASTER R2 Dorian LeBlanc, C.P.A. CFO and Vice President, Global Operations Key Takeaways Transformative LumiraDx Platform
Slide 65: 2021 Revenue Update
2021 Revenue Update* Q1 and Q2 estimates 2021 Full Year $300 - $500 million Projected Revenue H2’21 Projections * Q1 and Q2 Unaudited estimates $300 $200 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. 65
Slide 66: 2021 Revenue
2021 Revenue • Year to date: • $170.5 million Platform sales • $7.5 million RNA Star • $16.0 million other • Full Year Update: • Base Revenue – from current installed base • Revenue Opportunities largely dependent on: • COVID / Flu A / Flu B commercialization • CRP and D - Dimer commercialization •
Slide 67: Income Statements (000's) - IFRS
Income Statements (000's) - IFRS Financials 2019 2020 H1'21 Unaudited Preliminary Revenue 23,142 139,153 194,102 Gross Margin 8,820 52,947 54,222 Research & Development 86,546 107,539 58,602 Selling, marketing and administrative 37,294 46,129 59,305 Operating Loss (115,020) (100,721) (63,685) Net Fi
Slide 68: Pro Formas (000's)
Pro Formas (000's) 2019 2020 H1'21 Pro Forma Pro Forma Pro Forma Preliminary Revenue 23,142 139,153 194,102 Gross Margin 8,820 52,947 54,222 Research & Development 83,968 105,486 57,089 Selling, marketing and administrative 33,937 42,604 39,390 Operating Loss (109,085) (95,143) (42,257) Net Finance
Slide 69: Financial Statement Comments
Financial Statement Comments Gross Margins in H1’21 largely impacted by non - recurring expenses related to scale up and COVID dynamics with adjusted product margins in line with expectations and long term guidance Pro Forma adjustments include significant non - cash adjustments related to conve
Slide 70: Capitalization - Debt
Capitalization - Debt Debt Post Merger • Pharmakon / BioPharma Credit • $300 Million Note • 8% per annum, paid quarterly • Matures in March 2024 • Gates Foundation Note • $18 Million Note • 2% per annum, paid quarterly • Matures in October 2024 • Commitment – Capital One • Up to $100 million for an
Slide 71: 2021-2022 Platform Focus on Largest Testing Needs
2021 - 2022 Platform Focus on Largest Testing Needs in Community Based Care Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only. Test IVD Category Market Segments CE Mark 1 FDA Submission 2 TAM 3 COVID - 19 antigen Immunoassay Phys
Slide 72: 2024 Outlook and Financial Profile
2024 Outlook and Financial Profile • LumiraDx Base Case Projected Revenues - $1.00 - $1.25 Billion • COVID/Flu products – 15% - 20% of total revenue • High Sensitivity Troponin – 15% - 20% of total revenue • BNP – 5% - 10% of total revenue • HbA1c – 5% - 10% of total revenue • Strong mix across othe
Slide 73: Question & Answer Session
Question & Answer Session 73 Confidential and Proprietary Copyright © 2021 LumiraDx Ltd. All Rights Reserved, Worldwide. For discussion purposes only.