Acrux Limited · ASX:ACR
Acrux — Investor Presentation (September 2006)
24 slides from Acrux's investor presentation, Sep 25, 2006
Slide 1: a ae
os ee a ae Le Tay ae y ye cn Le nti i Le, Vee oo SUNN TER nnn ! in I i SNe ae ww zs DEVELOPIN RANGE OF PATIEN PHARMACEUTICAL PR¢ al y i fe a a aa —T Sinn oe oe Le . 22 TT i ee ay o nna EFT : ) ae Oy oo
Slide 2: Forward-looking statements
This presentation includes forward-looking statements that are subject to risks and uncertainties. Such statements involve known and unknown risks and important factors that may cause the actual results, performance or achievements of Acrux to be materially different from the statements in this pres
Slide 3: Proven technology
oN Proven technology — First product successfully through Phase 3 in USA — Other products use same delivery technology Access to major markets — Broad core patents to 2017 granted in USA and Europe, pending elsewhere -» New patents pending out to 2026 Expert management -—» New leadership for next ph
Slide 4: Acrux Patchless Patch Reservoir
AcRUX Patchless Patch® Reservoir TECHNOLOGY PLATEORS ent. achoss enlaces Forms an invisible reservoir within the skin US Pat. no. 6,818,226 (expires 2017) ACROSS® Enhancers « Allow drugs to pass through skin more rapidly ® : ves Applicator ee | GRAS status Used for simple, accurate & i ie US Pat. no
Slide 5: li hhh
e i: li hhh ie Ta : _ a ee a iG — SAFETY 7 Ly ie ~~ PATIENT UTILITY
Slide 6: Apply delivery technology to proven drugs
Lo « Apply delivery technology to proven drugs — abbreviated development with lower cost and less risk « Progress products through clinical and regulatory milestones sufficient to prove commercial value « Commercialise in major pharmaceutical markets through licensing intellectual property — licence
Slide 7: First product Evamist to launch in 2007
First product Evamist™ to launch in 2007 after 7 years development Nestorone & Testosterone for women are exceptions — require Phase 2 efficacy and longer Phase 3
Slide 8: Increased emphasis on commercialisation and initiating new products
~—» Increased emphasis on commercialisation and initiating new products
Slide 9: et, Lo
yy es et, Lo CUES SU Dr Adam Watkinson Tim Saunders Dr Richard T a oe reagus — = oe a na i li i se Ly —New compounds Testosterone MD-Lotion® —Partner Performance —Technology improvements —Fentanyl UDTS™ —New Licence Agreements — Synergistic technologies —Contraceptive sprays — Collaborative Agreemen
Slide 10: Product pipeline
Tne {us$bn) Formutation PhaseiPK Phase 2PK Phase 3 Registration Current Partner Therapeutic Area Menopausal symptoms Decreased libide in women Nestorone® MDTS® Contraception i s Various Chronic pain Fentanyl UDES” Male testosterone deficiency Companion animal health Undisclosed
Slide 11: Product pipeline (continued)
ene ORT Therapeutic Area {US$bn) Menopausal symptoms Decreased libide in women Contraception Chronic pain Male testosterone deficiency Formutation PhaseiPK Phase 2PK Testosterone MD-Lotion” Potential Phase 2 . a Registration Partners efficacy OLLIE. CLL UMMA
Slide 12: Evamist and VIVUS licence
- May 2006 - VIVUS announced positive results in US Phase 3 trial; on track for US marketing application in H2 2006 * US$4m milestones from VIVUS remaining (filing and approval of application), then royalties * US estrogen-alone therapy market US$1.3 billion — Estrogen is most effective treatment fo
Slide 13: Evamist Phase 3 hot flush results
aii ih ie * 457 postmenopausal women ~ changes in frequency and severity of moderate to severe hot flushes after 4 and 12 weeks with Evamist™ or placebo spray * All FDA efficacy and safety endpoints met Frequency of Moderate to Severe Hot Flashes 45 40 meen 3 Spray Flashes per Day Moderate to Severe
Slide 14: Hormonal contraceptive market US$6.7 billion per annum
ON Hormonal contraceptive market US$6.7 billion per annum Rapid uptake of transdermal patch in USA — now sells $0.5 billion Market characterised by numerous combination products — opportunity to license a range of contraceptive sprays to a range of partners Several combinations in development, inclu
Slide 15: Testosterone MD-Lotion global market US$0.6 billion
ou Global market US$0.6 billion, dominated by Androgel® US market research confirms strong patient preference for Acrux’s convenient and discreet lotion over current therapies Patent pending protects unique application to the armpit until 2026 October 2006 - Phase 2 trial starting in USA under IND L
Slide 16: Global veterinary market for companion animals
¢ Global veterinary market for companion animals US$5.5 billion Global deal for multiple products in multiple animal species with Eli Lilly (Elanco) - top 10 vet company by sales April 2006 - $0.5 million received on grant of Acrux’s core patent in Europe A$8.25 million in milestones remaining + sal
Slide 17: Financial position
Dove in * Cash at 31 August 2006 $17.5m - cash outflow FY 2005/06 $8.3m « Priority to grow revenue from new & existing licences * Research and commercialisation are scalable at fixed cost — development costs are variable and controllable « Target is revenue growth to drive profitability in 2008 « Ex
Slide 18: Share ownership
fire SHARE OWNERSHIP (TOTAL 134.6m) institutions 37% 16% directors & Ross Dobinson 10.2m managers Directors in escrow until 29 Sep 2006: Barrie Finnin 9.7m Others 0.1m Total shares 20.0m Founders’ shares available off-market: — Up to 4m shares ~> 2.5m taken (including directors/management) 2 ok. 18
Slide 19: Acrux share price and market cap comparison
Cents per Share 90 86 20 78 70 65 60 86 80 45 40 — Near term product revenues Acrux (ACR) share price July 2005 - August 2006 Market cap 25 Sep 2006 | $m Novogen 281 Biota 224 Phosphagenics 205 Ventracor 201 Metabolic 124 : Progen 11 uk Aug. Sep. Oct Now Dec Jan Feb. Mar Ape May Jun Jub Aug. 05 a5 0
Slide 20: Licensing - secure significant new deal
HS Licensing - secure significant new deal Evamist™ - VIVUS files Evamist marketing application with FDA (H2 2006) Testosterone MDTS® - VIVUS starts Phase 3 trials (H1 2007) Contraceptive sprays - start proof of concept trials of combinations Testosterone MD-Lotion® - complete Phase 2 trials (H1 200
Slide 21: cs y oy
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Slide 22: Key advantages
I * Key advantages — Steady, continuous delivery — BLOOD — Sustained efficacy, reduced toxicity LeveL oF DRUG — Lower dose frequency leads to increased patient compliance —*, — Works for many injectable drugs 6 a 8 24 TIME (HOURS) « Acrux overcomes traditional patch disadvantages —Dosage limitations
Slide 23: Comparison with other delivery methods
: ie 1970 1990 No or low risk of skin irritation v x v Cosmetic acceptability x x v Dosage flexibility x x v Ease of manufacture x x v Cost effective v x v Range of applications x v v x x v Preference by patients
Slide 24: Market research with post-menopausal women
¢ Market research with 200 women of post-menopause age — Patch or implant hormone therapy users — 100% would switch to MDTS® — Tablet hormone therapy users — 88% would switch to MDTS® ¢ Backed up in studies conducted by others ¢ Current annual US market for estrogen therapy — Patches/gels: US$0.3 bi