LBT Innovations Limited (ASX:LBT) Business Update … · LBT Innovations Limited (ASX:LBT) Business...

ASX code: LBT

lbtinnovations.com

LBT Innovations Limited (ASX:LBT)

Business Update

Brent Barnes

Chief Executive Officer & Managing Director

30th March 2017

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Slide No. 1 © LBT Innovations 2017

Disclaimer

This document contains certain forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forward-looking statements are reasonable at this time, we can give no assurance that these expectations will prove to be correct.

Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to many important factors, risk and uncertainties including, without limitation, risks associated with medical device development and manufacture, risks inherent in the extensive regulatory approval processes mandated by regulatory authorities, delays in clinical trials, future capital needs, general economic uncertainly and other risks detailed from time to time in the Company’s announcements to the ASX.

Moreover, there can be no assurance that others will not independently develop similar products or processes or design around patents owned or licensed by the Company, or that patents owned or licensed by the Company will provide meaningful protection or competitive advantages.

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APAS® Independence

Automated Plate Assessment System (APAS®) - a platform technology for the automation of culture plate screening and interpretation, currently being launched under a Joint Venture called Clever Culture Systems AG.

APAS® uses intelligent imaging technology to read and interpret the presence of bacteria in culture plates.

Features• At least 3 times more efficient

than manual plate reading;• First intelligent imaging cleared by

FDA;• Expect to be first to market with

intelligent imaging device;• Modular design easily integrated

into culture plate work flow;• More affordable stepwise entry

into lab automation.

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Important Microbiology Conferences 2017

European Congress of Clinical Microbiology and Infectious Diseases

• A global meeting place for all key opinion leaders and decision makers;

• 55,000 m2 exhibits with approximately 200 exhibiting companies;

• Over 12,000 delegates from >120 countries.

American Society of Microbiology – Microbe 2017

• The major microbiology meeting in North America;

• >250 exhibiting companies, institutions, universities and hospitals;

• 2016 statistics – 11,773 attendees from 104 countries.

Clever Culture Systems AG have exhibitor booths at the two largest Microbiology conferences of the year to demonstrate the APAS® Independence device on a global scale.

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Clearly defined distribution objectives

42%North

America

Global reach through allocation of the right strategic distribution partner(s)

* % based on global dollar spendReferences:Microbiology Testing/Clinical Microbiology Market – Global Forecasts to 2021, Markets and Markets, Jun 2016Global Clinical Microbiology Market Revenue, 2014 to 2024 –Grand View Research,Oct 2016

32%Europe

15%China & Japan

1.8%Australia &

New Zealand

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Revenue Model: APAS® Joint Venture Structure

Share of CCS JV profitability

Develop & Support Software

2. APAS® Product Line

3. Upgrades & Support

1. Recurring software revenue

Product Manufacturing

Global or Regional

Distribution Partner(s)

Joint Venture 50/50

Hettich Holding Beteiligungs-und Verwaltungs-GmbH

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Anticipated key milestones for 2017 (calendar year)

2017 Category News details

FinancialSuccessful completion of $7 million placement to accelerate APAS® technology

development and launch.

APAS® / CCS APAS® Independence usability trial.

APAS® / CCSBuild fully functioning APAS® Independence device and APAS® Incubot Design

Prototype for trade shows.

WoundVue® Complete market assessment of technology.

APAS® / CCSKey Launch: APAS® product demonstrators displayed at European Congress of

Clinical Microbiology and Infectious Diseases (Vienna, 22-25 Apr).

APAS® / CCSKey Launch: APAS® product demonstrators displayed at American Society

Microbiology Conference (New Orleans, 1-5 June).

APAS® / CCS CE Marking of APAS® for European Conformity

WoundVue® WoundVue® prototype study complete.

APAS® / CCS Signing of alliance/distribution agreement with global partner(s) for APAS®.

APAS® / CCS Market acceptance trials of APAS® Independence in laboratories globally.

APAS® / CCS Cost utility and quality studies conducted in key opinion leader laboratories.

MicroStreak® Signing of license or sale agreement with new partner(s).

WoundVue® WoundVue® technology partner selected for development of commercial product.

Q4 APAS® / CCSAPAS® Independence device ships to fulfil open orders by global

alliance/distribution partner(s).

Q1

Q2

Q3

All forecast milestones achieved on schedule

and as expected.

Q2 milestones are on track.

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The need for automation in today’s microbiology lab

Lisa Brenton

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Background Business Context

Diagnostic Pathology Service

St Vincent’s Hospital

Other hospitals (public and private)

Specialist Consultants

General Practitioners

Clinical Trials

Challenges

Profit generating

Teaching hospital

Business competitors

Cost considerations

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Market Trends impacting on increased automation

• Growing demand for testing as populations age

• Reduced reimbursement plus hospital and managed care cost-cutting

• Diminishing skilled labour pools as baby boomers retire & not replaced in the workforce

• Increased government regulations

• Increasingly sophisticated tests producing greater amounts of data

• Antibiotic resistance

Key Automation Drivers

• Labs need

• to run more tests with less skilled labour

• lower operating costs through lab consolidation and less staff/overhead

• Increase quality of results without compromising efficiency

• Laboratory consolidation and integration of platforms

Factors impacting automation in clinical microbiology

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Microbiology Department

• General bacteriology, microscopy and culture

Identification of organisms and antibiotic susceptibility testing

• Infection control surveillance/Environmental testing

• Mycobacteriology

• Mycology

• Parasitology

• Infectious diseases serology

• Molecular microbiology

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Bacterial culturesF

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Specimen breakdown 2016

49%

19%

9%

6%

6%

11%

URINES SWABS BLOOD CULTURES

SCREENING FAECES OTHER

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Traditional workflow

Specimen Collection

Transport to Laboratory

LIMS RegistrationSpecimen

Assessment

Preparation: Centrifugation,

Mixing etc

Sort Plates for Incubation

Plate Inoculation & Streaking

Plate Labelling Plate Selection

Microscopy

Blood Culture

Transport Plates to Incubators

Sort Plates for Reading

Read Plates Sort PlatesRecognise

Colonies for ID / AST

Sample Colonies for

ID / AST

Retrieve Plates from Incubators

Inoculate ID /AST

Read & Interpret ID / AST Results

Review & Release Report

Automated

Incubate Under 2-3 Atmospheres for

Various Times

Manual Tasks

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Automated microbiology lab workflow

Specimen Collection

Transport to Laboratory

LIMS RegistrationSpecimen

Assessment

Preparation: Centrifugation,

Mixing etc

MicroscopyTransport Plates

to Incubators

Auto Plate Sorting:1. POS – For ID/AST2. NEG – For Discard3. RI – Re-incubate 4. Microbiologist Review

Colony SamplingID / AST

Review & Release Report

Incubate under 2-3 Atmospheres

Various Duration

Manual Tasks

Inoculation & Streaking

ID / AST

Automated Plate Screening &

Interpretation

APASClever Culture Systems

Automated

2008 PREVI IsolaLBT-bioMérieux

Smart IncubatorsKiestra & WASP

Plate imaging

Kiestra, WASP, Sener, i2A

Projects in this areaKiestra, bioMérieux, WASP, Bruker, i2A

Clever Culture SystemsFor

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Time spent on routine lab tasks*

* LBT Innovations studies in >50 laboratories in Australia, US and UK

Colony work-up 7%

Assessment of cultures 29%

Preparation of plates for reading

2%

Specimen preparation

62%

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Addressing culture reading bottlenecksF

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Total time breakdown on urine bench

* Clever Culture Systems time and motion study, September 2016

Set up and read vitek Cards Phone call Set up and read MALDI

Time away from bench Distractions Gram stain

Registrars Sub plates Reading plates

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Benefits to laboratories running automation

Significant economic and qualitative benefits to help face increased cost and performance pressures on laboratories within the healthcare systems

• Laboratory investment payback in both dollars for efficiency and clinical outcomes

• Frees up skilled resources from mundane tasks to focus on complex problems

• Decreased turn around times

• Timely information informing clinical decisions

• Doing more with less – money, people and time

• Improved sensitivity and specificity

• Takes subjectivity out of test systems

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© Planet Innovation, all rights reserved19 Confidential

Experience in Developing

In-Vitro Diagnostics

Confidential. This proposal and supporting materials contain confidential and proprietary business information from Planet Innovation. These materials may be printed for use in evaluating the proposed project, but are not to be shared with other parties. All dollars are AUD unless stated otherwise, Use of Funds dollars are USD with a conversion rate of AUD / USD = 0.75 employed.

30th March 2017

Stuart ElliottChief Executive Officer

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Building a global health-tech company with best-in-class products in attractive high growth segments

A HEALTHTECH INNOVATION COMPANY

Founded In

2009Employees

217YoY Revenue Growth

103%FY17 Revenue Forecast

$48M

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PLANET INNOVATION

AFR #1 Most Innovative Company 2013, 2015 & 2016

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PLANET INNOVATION TEAM

205Team Size

96% Retention in 2016

Systems

Mechanical& CAD

Electronics

Manufacturing

Quality

ProgramManagement

Commercialization

Cloud

Industrial Design Science

Software

812

25

17

38

38

4

15

15

14

17

15Active projects, 11 MedicalF

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DESIGN & DEVELOPMENT CAPABILITIES

Manufacturing

Science

Systems

Electrical

UI / UX

Digital / Cloud

Software

Mechanical

Industrial Design

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COLLABORATING WITH CCS

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Thank you

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LBT Innovations Limited (ASX:LBT) Business Update … · LBT Innovations Limited (ASX:LBT) Business...

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