GLUCOSENZ

SDN BHD

1

USD 10 MILLION

Contents

The product – Glucosenz01

Glucosenz Technology02

Background of OSA

Technology

03

Management Strength04

Government Support in R&D05

Product Development &

Evolution

06

Commercialisation Model07

Diabetes – Global08

Diabetes – ASEAN09

Diabetes – Malaysia10

Medical Devices – Global11

Blood Glucose Monitoring –

Global

12

Competitor’s Company

Valuation

13

Competitor’s Product

Comparison

14

Valuation15

Offer Summary17

Utilisation of Proceeds16

Innovative GLUCOSENZNon-Invasive Blood Glucose Monitoring Device

Traditional Invasive

Blood Glucose Monitor

GLUCOSENZ

▪ Non- invasive

▪ Easy to operate

▪ IoT and AI Capability

▪ Environment friendly

3

THE PRODUCT - GLUCOSENZ

4

THE PRODUCT - GLUCOSENZ

Glucosenz is the future of blood glucose screening.

It will replace the conventional method of blood glucose testing via pricking

of finger to draw blood. It requires no intrusive mechanism for blood

drawing and will have no reagent for blood analysis.

Conventionally, blood glucose level are measured via drawing out a small

amount of blood by pricking a finger with a lancet and using a strip to

measure the blood sugar with the blood glucose monitor.

GLUCOSENZ

(BENCHTOP MODEL)

• non-invasive

• requires no pricking or

drawing out blood

• uses no consumables

• cost effective

• hygienic

• pain-free

• fast and simple to operate

• self-screening

• high accuracy

• portable and digital

The product works simply by placing the thumb on the photonic reader for

30 seconds and the result is calculated and reported on the screen

attached to the device. Results can also be downloaded to medical records

or sent to the patient or physician via Bluetooth / Wi-Fi. Wireless data

collection and dissemination capabilities are core components and will

facilitate remote monitoring by caregivers.

It is the first device of its kind to report blood glucose levels digitally,

without any invasive blood draw or finger stick.

This method requires:

• Pricking and drawing out of

blood

• A trained health personnel

• Multiple disposable items

(consumables)

• Blood glucose testing machine

Average cost of

consumables =

RM3 per test

Total cost =

RM821,250.00

(RM3x150x365x5)

Assuming 150

patients are tested

daily for 5 years

Comparatively, there is a great potential for cost benefit by replacing the

conventional method with Glucosenz as it requires:

Apply lease facility from 3rd party

financier for up to 5 years (lifespan

of 5 years)

one-time investment of

RM120,000*or

Therefore, there is a potential cost savings (5-year period) of RM701,250.

5

GLUCOSENZ TECHNOLOGY

The eventual Glucosenz platform consists of four pillar technologies that

enables the device to be at the forefront of screening device for diabetes.

Advanced Photonics

Glucosenz is able to gauge human glucose content through no-intrusive

method utilizing the non-intrusive near spectroscopic field infrared and

Intelligent Deap-Learning algorithm to measure the glucose level.

Internet of Things (IoT)

Glucosenz will create a real-time remote IoT-based continuous glucose

monitoring system. The implemented IoT-based architecture is a complete

system starting from biosensor to a back-end server. Through the system,

doctors and caregivers can easily monitor their patient anytime, anywhere

via a browser or a smart-phone application. Sensor nodes of the system

are able to obtain several types of data (i.e. glucose, body temperature,

and environmental data) and transmit the data wirelessly to the gateway

efficiently.

The patient’s smart-phone becomes a gateway for receiving data from

biosensor. In addition, the gateway with its application provides advanced

services to users, such as a notification service. The results show that it is

feasible to remote monitor glucose level in real-time. Data can be collected

and stored on the device or in the cloud for inclusion into the patient

medical record and/or inclusion into large data sets for clinical registries or

epidemiological studies.

Artificial Intelligence (AI)

AI deep learning capabilities of Glucosenz would enable faster evolution of

from benchtop model to portable and wearable devices. As more data is

collected and the accuracy of the algorithm is increased, the product

design can be further miniaturized to meet the demands of the market for

smaller and wearable devices.

4 Core Technologies

Advanced Photonics

Internet Of Things

Artificial Intelligence

Blockchain Technology

BACKGROUND OF OSA TECHNOLOGY

OSA Technology Sdn Bhd (OSA) was incorporated in 2004 and built on

its foundation of modern hi-tech and cutting-edge CNC Orthopedic

Medical Devices precision machining technologies in stainless steel for

private and public hospitals, for domestic and global markets.

The founder of OSA is Dr Hyzan Mohd Yusof, an orthopaedic surgeon

by profession. Dr Hyzan has been involved in humanitarian work in

Malaysia, Afghanistan, Aceh, North Pakistan, Lebanon and others.

Given his concerns for medical devices for surgical operations and

treatment, Dr Hyzan established OSA to provide medical products

which are safe, affordable and accessible to patients.

OSA has been identified by the Ministry of Trade and Industry (MITI) as

a major player in the medical device industry and was chosen as one of

the High Impact Program 5 (HIP5) company by Malaysia’s SME Corp.

OSA has also been a major supplier to the Ministry of Health (MOH)

hospitals nationwide where OSA’s Orthopedic Implant products have

been listed in the Approved Product Purchase List (APPL) since 2008.

For the last 5 years, OSA has conducted research and development

(R&D) of new innovative medical device products in collaboration with

MIMOS Berhad, Malaysia's national applied research and development

centre under the purview of the MITI. Two revolutionary products have

been developed and are ready for commercialisation:

▪ Non-Invasive Blood Glucose Monitoring Device

▪ Vital Sign Blood Analysis Device

Certification and Registrations

ISO 13485

Good Manufacturing Practice (GMP) Certification

European CE Marking Certification

Voluntary Medical Device Establishment Registration (MeDVER)

Medical Device Authority (MDA)

MOF Bumiputera Company Registration

Halal Jakim

Name OSA Technology Sdn. Bhd.

Company Registration No. 643478 – M

Registered Office Arris Management Services Sdn Bhd

Suite 39.1.6, First Floor, Jalan Kenari 17C

Bandar Puchong Jaya

47100 Puchong, Selangor

Correspondence Address Block C, UKM-MTDC Pusat Teknologi Pintar II

Universiti Kebangsaan Malaysia 43600 Bangi,

Selangor

Principal Activities pany Manufacturing of Orthopaedics Trauma Implants

Research and development

6

MANAGEMENT STRENGTH

DR HYZAN YUSOF

Chief Executive Officer

Present Appointment

▪ Chief Executive Officer – OSA Technology Sdn Bhd

▪ Consultant &Surgeon of Orthopaedic– Sunway Medical Centre

▪ Vice Chairman of Medical Technology Industry Group – Federation of

Malaysian Manufacturers (FMM)

▪ Advisor – Akademi Sains Malaysia for Industry of Medical Device

Industry

▪ Advisor – Ministry of Health (MOH) on Medical Device Industry

▪ Reviewer – Malaysian Orthopaedic Journal 2008 till present

Past Appointments

▪ Associate Professor of Orthopaedics Department – Hospital Universiti

Kebangsaan Malaysia (HUKM)

▪ Consultant of Orthopaedic & Traumatology – HUKM

▪ Coordinator of Trauma Unit – HUKM

▪ Head of Sport Injury Unit – HUKM

▪ Lecturer – Universiti Kebangsaan Malaysia (UKM)

▪ Honorary Secretary of Malaysian Orthopaedic Association

▪ Exco member of Malaysia Relief Agency

Academic Qualifications

▪ Master of Surgery (Orthopaedic) – UKM

▪ Medical Doctor – UKM

▪ Sub-specialty course on Trauma – University of Albama, Birmingham,

United States

Local & International Achievement

▪ Steering Committee Member for AO International representing

Malaysia

▪ Scientific Chairman for Asean Orthopaedic Congress 2003

▪ American Academy of Orthopaedic Surgeons (AAOS) Scholarship

Award 2005

▪ Most Outstanding Malaysian of The Year 2005

▪ AAOS nominee for Humanitarian Award 2007

▪ Quality Award for the Best Innovation for the External Fixator System

▪ The Outstanding Young Malaysian Award

▪ Humanitarian and relief works in various countries such as Pakistan,

Afghanistan, Cambodia, Lebanon, Acheh, Indonesia, Syria and more

7

7

8

ZULKIFLI AHMAD

Chief Operations Officer

Present Appointment

▪ General Manager, Operations at OSA

Technology Sdn Bhd

Areas of Responsibilities

▪ Overall Operations of the company

▪ Technical and Manufacturing Expertise

▪ Business Development

▪ Responsible over OSA’s operations which includes:

- Manufacturing plant to manufacture orthopaedic implants at Bangi

- Managing over all documentation required for various certifications

from planning, preparation and maintenance of technical files,

preparation, adoption and adherence to Standard Operating

Procedure (SOPs), etc. Current and active certifications at OSA

Technology Sdn Bhd including Medical Device Authority (MDA),

ISO 13485, Good Distribution Practice for Medical Devices

(GDPMD), CE marking (product certification mark within European

Economic Area).

- Liaison person for internal and external audit with the various CBs

- Liaison person with Ministry of Health (MOH) and Pharmaniaga for

Approved Product Purchase List (APPL) contract with MOH

- QMR – Quality Management Representative for OSA – required for

ISO certifications and maintenance

WAN ANISAH SHAMSUDDIN

Chief Financial Officer

Present Appointment

▪ General Manager, Finance and

Administration at OSA Technology Sdn Bhd

Areas of Responsibilities

▪ Overall Financial Management

▪ Planning and Budgeting

▪ Project Management

▪ General Administration

Other Appointments

▪ CEO | Async Trade Sdn Bhd | Dec 2015 – Current

- Oversee (macro level) the financial and operational

- Develop products from zero to being market and export ready

- Approach and secure hypermarket outlet accounts

- Maintain customer and supplier relationships

▪ Finance Director | Async Technology Resources Sdn Bhd | April 2002

to Current

- Financial management and general administration

- Oversee the managing of resources for technical consulting and

project management

- Management and validation of financial proposals for various

tender submissions for projects such as Kuala Lumpur International

Airport 2 (KLIA2), Universiti Teknologi Petronas (UTP), Malaysia

Airlines, Kuala Lumpur Central (KL Sentral) and Petaling Jaya

Central (PJ Sentral)

MANAGEMENT STRENGTH

GOVERNMENT SUPPORT IN R&D

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9

10

PRODUCT DEVELOPMENT & EVOLUTION

Glucosenz was developed in Malaysia by OSA in collaboration between MIMOS Berhad, a Government Linked-Company under the Malaysian Ministry of

International Trade (MITI). Glucosenz successfully developed working prototypes that underwent and completed clinical trial at Hospital Universiti Kebangsaan

Malaysia (HUKM) in 2019.

Prototype

Development

Product Refinement

&

Registration

Product Launch

&

Manufacturing

Product Refinement

&

Upgrades

R&D Completed

Patent application

Developed five working

prototypes of

Glucosenz Benchtops

Product prototypes

were refined with data

from clinical tests at

HUKM

Product Registration

with Medical Device

Authority (MDA), CAB,

SIRIM, etc

Launch of Glucosenz

targeted to be in the

first quarter of 2021

Continue development

for miniaturization

Expand the

manufacturing capacity

of Glucosenz in

Malaysia

Add new features to

Glucosenz

Version 1 for Version 2

Consolidate Glucosenz

with other range of

medical devices

developed by OSA

2

0

1

8

2

0

1

9

2

0

2

1

2

0

2

2

11

PRODUCT DEVELOPMENT & EVOLUTION

Considering the market direction of medical devices towards wearable personal devices, Glucosenz will also evolve from the current benchtop model to a

portable model and ultimately towards a wearable model. The timeline of evolution is dependant on fundraise. OSA has the technology and expertise.

Target market Hospital / Healthcare

Research Institute

Target user Patient / Researcher

Price per unit RM120K++

Product position Lease to own, Outright

Purchase

Target sales per

annum

500 units

Target market Hospital / Small health

centre / personal

Target user Patient / consumer

Price per unit RM12K++

Product position Lease to own, Outright

purchase

Target sales per

annum

18,000 units

Target market Patient / consumer

Target user Patient / consumer

Price per unit RM1.2K++

Product position End product, pay per

use, in-app purchase

Target sales per

annum

26,000 units

Glucosenz Benchtop Glucosenz Portable Glucosenz Wearable

4

6

1

VENTURE ASSESSMENT

▪ Profitability Assessment

▪ Preliminary Business Model Design

▪ Capital Requirement Estimates

▪ Management Requirement

ECONOMIC FEASABILITY▪ Develop 5-year Pro-Forma

▪ Develop Financial Requirement

Business Organisation

▪ Secure Seed Financing

▪ IP Filing

STRATEGIC BUSINESS PLAN

▪ Business Plan

▪ Venture Financing

▪ Operation Implementation Plan

▪ Advisory & Directors

▪ Staffing / Manpower Planning

3

52

COMMERCIALISATION MODEL - GLUCOSENZ

BUSINESS START-UP

▪ Initial Staff Hire

▪ Business Policy

▪ Procedures & Operating Standards

▪ Venture Financing

BUSINESS GROWTH

▪ Full Staffs

▪ Management Operations

▪ Business Systems

▪ Contracts

▪ Venture Financing

BUSINESS MATURITY

▪ Corporate Development

▪ Financial Management

▪ Return on Investments (ROI)

▪ Enterprise Growth Strategy

FEASABILITY

GROWTH

12

13

According to the World Health Organisation (WHO),

global healthcare expenditure to treat diabetics reached

USD 727 Billion in 2017.

The burden of diabetes management has become a

major concern, with high socio-economic costs and

implications across Asia Pacific. With diabetes on the

rise, self-monitoring with blood glucose meters and

strips have become an increasingly important aspect of

diabetes management in Asia Pacific, specifically, and

the world, generally.

According to the WHO report (November 2017), the

number of people with diabetes has risen from 108

million in 1980 to 422 million in 2014. In 2017, there

were 425 million diabetics in the world. By 2045,

projections show this number rising to some 629 million

diabetics globally.

Currently, there are almost 138 million diabetics in the

Western Pacific Region and by 2035, this will rise to 202

million (16% of Malaysians are diabetic).

Due to the trends of rapid economic development and

urbanization across Asia, the next several generations

of Asians are especially at risk of developing diabetes.

Recent studies show that Malaysia, India, Indonesia,

China, Vietnam, and the Philippines will have the

highest levels of new diabetes diagnoses over the next

20 years.

Together, the countries of Southeast Asia have some of the highest rates of diabetes prevalence

in the world. However, many of these cases remain undiagnosed.

DIABETES - GLOBAL

45

0,0

00 3,6

00

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2,4

00

,000

17

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0,0

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21

,00

0

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3,0

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0,0

00

1,4

00

,000

1 1 1.6

1.6

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

Singapore Malaysia Thailand Indonesia

Diabetes in Southeast Asia

Population with diabetes

Deaths from non-communicable diseases (including diabetes)

Annual spending on diabetes treatment (US$ billion)

Singapore Malaysia Thailand Indonesia

Sugary beverage tax None Over 5g/100ml Over 6g/100ml None

14

Almost 200 million of the world’s 370 million people diagnosed

with diabetes live in Asia. Indonesia is among the top 10 nations

with the most diabetics. In addition, Vietnam, Malaysia and the

Philippines are forecast to have increasingly high levels of new

diabetes diagnoses over the next two decades. Recent research

suggests Southeast Asians are more genetically predisposed to

type II diabetes.

Half of the global elderly population lives in Asia and that share

will rise to more than 60% by 2050. In Southeast Asia, the

percentage of people over age 65 will more than quadruple by

2050.

The ASEAN countries have a combined population of more than

620 million, nearly double that of the United States and more

than 100 million higher than that of the EU. Topping $2.3 trillion,

their combined GDP is equal to around one-quarter that of China.

The region saw GDP growth of about 6% IN 2019, compared with

negative growth in the EU and approximately 2% growth in the

United States.

Growing prosperity means more healthcare spending, leading to

growth in the region’s medical device market. Valued at more

than $4.5 billion in 2013, the region’s medical device market was

projected to reach $8 billion by 2017, led by Thailand, Indonesia,

and Malaysia.

DIABETES - ASEAN

Thailand Indonesia Singapore Philippines Vietnam

- Population

67 million

- 850 Public

hospitals

- 600 Private

Hospitals

- Medical

device

market at

USD1 billion

- Population

250 million

- Healthcare

spending to

increase to

USD50

billion in

2020

- Medical

device

market at

USD1 billion

- Population

5.5 million

- Sophisticate

d healthcare

system

- Healthcare

spending

similar in

value to

Malaysia

and

Thailand

- Medical

device

market at

USD600

million

- Population

106 million

- 80% of all

Filipinos are

covered by

the

country’s

health

insurance at

public

hospitals

- Medical

device

market at

USD300

million

- Population

93 million

- Rapid

expansion

of private

healthcare

- Medical

device

market at

USD630

million

15

DIABETES - MALAYSIA

In 2019, 3.6 million Malaysians were suffering from diabetes, the highest rate on

incidence in Asia and one of the highest in the world. By 2025, 7 million Malaysians

will likely have diabetes i.e. 31.3% of adults aged 18 years old and above. It is

becoming a major economic burden on the healthcare system and national economy.

Diabetes is a major public health concern as it is closely related to increase in:

▪ macro and micro-vascular complications

▪ premature and preventable mortality

Various initiatives are already being enacted to stem the

prevalence of diabetes. The National Diabetes Institute of Malaysia

(NADI) is providing outreach to patients by conducting glucose

screenings and for medical professional sponsors conferences

addressing diabetes prevention, detection and treatment.

The support of the Ministry of Health (MOH) is critical to ensure the

success of market penetration of Glucosenz. National public

funding and policy are required and these can be justified by the

long-term cost savings in reduced consumables and reduced

complications arising from late diagnosis of diabetes.

It is the stated goal of Malaysia to focus on prevention wherever

possible. Glucosenz can fit well into this strategy by providing

devices for screening at government hospitals, clinics and even

schools. In collaboration with MOH, Glucosenz can play a major

role in promoting self-care and preventive diabetes measures.

As the number of private hospitals in Malaysia increases, private

healthcare spending should increase with the heavy promotion of

medical tourism by the Government and the healthcare industry.

Malaysia is also a leading retirement destination of expatriates due

to quality healthcare facilities.

0%

20%

40%

60%

80%

100%

2006 2011 2015

7.00%7.2% 8.3%

4.50%8.0% 9.2%

Percentage of Malaysians with Diabetes

Diagnosed Undiagnosed

DIABETES is increasing rapidly in Malaysia, and most cases are UNDIAGNOSED

3% Dental equipment & supplies

Includes dental hand instruments,

drills, sterilizers, dental chairs,

plaster, amalgams, cements

29% Surgical & medical instruments

Includes anesthesia apparatus,

orthopedic instruments, optical

diagnostic apparatus, blood

transfusion devices, syringes,

hypodermic needles, catheters

22% Surgical appliances & supplies

Includes artificial joints and limbs, stents, orthopedic

appliances, surgical dressings, disposable surgical

drapes, hydrotherapy appliances, surgical kits,

rubber medical and surgical gloves, wheelchairs

6% Ophthalmic goods

Includes eyeglass frames, lenses, related

optical and magnification products

8% Irradiation apparatus

Includes X-ray devices, diagnostics imaging

equipment, computed tomography equipment

14% Electro-medical & electro-

therapeutic apparatus

Includes pacemakers, patient-monitoring

systems, MRI machines, diagnostics

imaging equipment, ultrasonic scanning

devices.

17% In-vitro diagnostic substances

Includes chemical, biological, or

radioactive substances

Medical Devices IndustryValue of total exports

based on North American Industry Classification System (NAICS)

THE U.S. LEADS

▪ World production

of medical devices

▪ Global

consumption of

medical devices

▪ Medical devices

market with a value

of $140+ billion =

45% of the global

market

16

MEDICAL DEVICES - GLOBAL

▪ The global medical devices market should expand at a CAGR of 4.5% over the

next four years, reaching a total of $409.5 billion by the year 2023.

▪ Forecasted CAGR in the medical device sector of 5% globally over the period

from 2018 through 2022.

▪ The US market currently dominates healthcare spending with a market share of

nearly 45%; followed by Europe, the Middle East, and Africa (EMEA); and the

Asia-Pacific region (APAC).

▪ Growth in the Asia-Pacific region will be highest over the over the forecast

period, followed by EMEA, making them good targets for medical device

innovators

▪ By the end of the forecast period, healthcare spending in emerging markets will

account for 30% of overall spending.

▪ The market is expected to witness a CAGR of 6.2%, during the forecast period,

owing to the well-developed healthcare infrastructure, the significant presence of

multinational medical device companies, and well-planned reimbursement

policies, among others.

▪ Market drivers include an established healthcare infrastructure, strong medical

device multinationals, and well-organized reimbursement policies. The analysts

expect APAC to lead growth, driven by rising R&D expenditures by governments

and private-sector healthcare companies.

Surgical and Infection Control

Devices

General Medical Devices

Cardiovascular Devices

Orthopedic Devices

Home Healthcare Devices

Other Devices

GLOBAL MEDICAL DEVICE MARKET ($B)

FORECAST BY APPLICATION FROM 2018 TO 2023

17

MEDICAL DEVICES - GLOBAL

18

In its recent report, Frost & Sullivan stated that the testing and monitoring of blood

glucose level in diabetic patients is a multi-billion dollar industry led by North America

which holds the largest market share in 2016.

The global blood glucose monitoring (BGM) market was valued at

approximately USD 12.23 billion in 2017 and is expected to

generate around USD 18.87 billion in revenue by the end of 2024,

growing at a CAGR of approximately 5.6% between 2018 and

2024.

In 2017, Asia Pacific held the largest share in the BGM market due

to the large patient pool and wide acceptance of advanced

technologies

BLOOD GLUCOSE MONITORING - GLOBAL

7.99

8.238.32

8.45

8.67

8.97

2.2%

3.0%

1.1%

1.6%

2.6%

3.4%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

7.4

7.6

7.8

8

8.2

8.4

8.6

8.8

9

9.2

2011 2012 2013 2014(e) 2015(f) 2016(f)

BGM Market Size and Annual Growth Rate (2011-2016)

Market siza (USD billion) Annual Growth Rate (%)

Sources: Frost & Sullivan: BMI Espicom; IEK Industrial Technology Research Institute (2014)

COMPETITOR’S COMPANY VALUATION

Nemaura Medical Inc

- sugarBEAT

Integrity Applications Inc

- GlucoTrack

Dexcom Inc

- continuous glucose

monitoring watch

Issued Shares 20,000,000 1,295,545 35,450,870

Outstanding Shares 200,000,000 5,295,543 40,097,491

Total Shares 220,000,000 6,591,088 75,548,361

Market Price per Share $0.02 $6.25 $0.69

Market Capitalisation $4,400,000 $41,194,300 $52,128,369

Valuation - During IPO

Nemaura Medical Inc Integrity Applications Inc Dexcom Inc

Outstanding Shares 22.89 million 200.53 million 95.74 million

Market Price per Share $3.74 $0.42 $394.01

Market Capitalisation $85.622 million $84.22 million $37.72 billion

Valuation – Current as of 15 October 2020

19

COMPETITOR’S COMPANY VALUATION

Nemaura Medical Inc

- sugarBEAT

Integrity Applications Inc

- GlucoTrack

Dexcom Inc

- continuous glucose

monitoring watch

Outstanding Shares 22.89 million 200.53 million 95.74 million

Market Price per Share $3.74 $0.42 $394.01

Market Capitalisation $85.622 million $84.22 million $37.72 billion

Latest Financials (AR)

Total Assets $1,220,023 $718,042 $2,395 million

Cash Balance $106,107 $418,621 $446.2 million

Shareholders’ Funds $(1,312,944) ($1,411,602) $882.6 million

Revenue - $208,762 $1,476 million

Profit / (Loss) Before Tax (4,774,558) ($3,516,146) $104.2 million

Profit / (Loss) After Tax (4,160,196) - $101.1 million

20

PRODUCT COMPARISON

21

GLUCOSENZ FreeStyle Libre™ Platinum G6® Platinum G5® Evesense™ SugarBEAT®

Manufacturer OSA/AXUDA Abbott Dexcom Dexcom Senseonics Nemaura Medical

Technology Non-invasive

Spectroscopy

Inserted Sensor Inserted Sensor Inserted Sensor Implanted Sensor Non-invasive

Reliability Clinical trial based on

ISO 15197:2013

> 70.0%

NA NA NA NA NA

Reliability (overall MARD) <20.0% 11.4% 9.8% 9.0% 11.4% <12.0%*

Reliability (Clarke Error

Grid A+B zone)

>95.0% 99.0% NA 97.0% 99.1% >95.0%

Patients Studied 1050 72 324 97 44 >75

Patient Days Studied 1 14 10 9 90 1 - 4

Warm-up Time 15-45 mins 1 hour 2 hours 2 hours NA 30 – 60 mins

Daily Calibration 1x none none 2x 2x 1x

Glucose Display

Frequency

Manual activation of

sensor

Manual activation

of sensor

Every 5 mins Every 5 mins Every 5 mins Every 5 mins

Patch/Sensor Life 1625 days 14 days 10 days 7 days 90 days 1 day

Regulatory Approvals EU US Worldwide EU EU

Basis for reimbursement NA Finger stick NA CGM CGM Finger stick

Daily Average

Reimbursement Cost

NA $2.50 (Germany) NA $9 (US) NA $2.50**

Daily Retail Cost UK

(exc.VAT)

NA £3.50 (Patch)

£50 (Reader)

NA £7.30 (Patch)

£475 (Hardware)

NA £2 (Daily Patch)

£30 (Transmitter)

22

PROJECT COSTING REVENUE MODEL

The pricing of Glucosenz is highly dependent on the cost of raw material

especially the highly specialised and imported spectrometer. Other material

costs are relatively reasonable and can be easily sourced locally.

Direct Costs of Manufacturing

(Glucosenz Benchtop)

Amount

Direct Material Cost RM 24,000 per unit

Factory/Production Manpower ~RM 26,000 per unit produced

1 Quality Assurance Officer RM 4,000 per month

Logistic 2% of Sales

Gross Profit Margin ~56%

- Benchtop Version - Outright Purchase

(RM120,000)

- Benchtop Version - Leasing from 3rd party

financier (RM120,000)

- Miniature Version (RM12,000)

- Wearable Version (RM1,200)

- Maintenance (RM20,000 per annum)

- Video Advertisement (RM1.2 / 30 seconds)

- Premium User Subscription (RM4/month)

- Healthcare Database

23

VALUATION UTILISATION OF PROCEEDS

Valuation Methods Indicative Valuation

(RM)

Discounted Cash Flow Method (DCF) 609,435,335

Average Net Assets Value 315,142,700

Market Approach (Y10 but discounted) 533,113,436

Average Valuation 485,897,157

Fund Raise RM 40,000,000

USD 10,000,000

Equity Represents 10% Commercialization Timeline Year

Glucosenz Benchtop Version 2021

Glucosenz Miniature Version 2023

Glucosenz Wearable Version 2025

Target Market Expansion

Australia

India

Europe

CAPEX 16%

Development Cost 32%

Patent Acquisition 17%

Working Capital & Expansion

35%

Utilisation Over 5 Years

24

OFFER SUMMARY

Offer Size The Offer is to raise up to USD 10,000,000

Instrument Ordinary Shares

Equity 10% of enlarged equity

Minimum Investment USD 1,000,000

Target Investors Targets participation from institutional and sophisticated investors

Potential Exit An Exit may be carried out in various ways, including but not limited to:

▪ an Initial Public Offering of the Company's shares (“IPO”)

▪ a trade sale of all or substantially all of the Company’s shares (for cash or share consideration)

BENEFITS AND RETURNS ON INVESTMENT

Malaysia Business opportunity to be part of Malaysia’s nation building through the production of essential

medical device equipment

Equity Equity in Glucosenz technologies and medical devices with the following status:

▪ completed working prototype for Glucosenz benchtop model

▪ proven and working technology

▪ clinical trials done

▪ technical files completed

OSA Technology

Sdn Bhd

Joint-Venture with OSA Technology Sdn Bhd to secure:

▪ experience in manufacturing of medical devices with ISO 13485 and GDPMD certification

▪ access to medical technologies and research team

▪ connection to the business network in the medical industry