Professional Documents
Culture Documents
NVDQ Corporate Presentation May 23 2016
NVDQ Corporate Presentation May 23 2016
Investment Thesis
Experts in fluorescence imaging
- Created market in surgery and wound healing
- Point-of-Care imaging: vascular flow, perfusion, lymph nodes
- 180 publications Improved outcomes, reduced costs
Large market opportunity (annual procedures in U.S.)
- Complex surgeries: 1.4 Million
- Wound vascular assessment: 0.6 Million
Growth
- 2016 expected revenue: $84-86 million, representing 32-35% YoY growth
- Pipeline of new products to sustain continued growth
- Expanding patent portfolio
- Two level 1 clinical studies recruiting
SPY ELITE
Therapy Delivery in Complex High Risk Open Surgery
Breast Reconstruction
Colorectal Surgery
Colorectal Surgery
Vascular Surgery
PINPOINT
Therapy Delivery in Complex, High Risk Minimally Invasive Surgeries
Colorectal Surgery
Lap Cholecystectomy
Gynecological Cancer*
Bariatric Surgery
SLN
PINPOINT System
LUNA
Transforms Outpatient Assessment of Wounds
Limb Salvage
LUNA Score
15
LUNA System
Serial Functional Imaging and Analysis
7
Operating Room
SPY Elite
Open
PINPOINT
NOVADAQ Diagnostics
Outpatient Clinic
LUNA
Minimally Invasive
Firefly
Robotic
DermACELL PRS
Surgery Type
Device
Breast Reconstruction
100,000
Open
SPY
Other Reconstruction
250,000
Open
SPY
Vascular
100,000
Open
SPY
50,000
Open
SPY
100,000
Open
SPY
Gastrointestinal
200,000
Open or MIS
Lymphatic
400,000
Open or MIS
Gynecological Oncology
100,000
MIS
PINPOINT
Cholecystectomy
100,000
MIS
PINPOINT
Wound Healing
600,000
Outpatient
LUNA
Abdominal Wall
40%
30%
Open Surgery
30%
Wound Healing
MIS Surgery
11
180+!
75!
Documented
Applications
Peer Reviewed
Publications
1700+!
FireFly Systems!
SPY Technology
Procedures
SPY Hospitals
12
Mayo Clinic
Rochester, MN
Cleveland Clinic
Cleveland, OH
Barnes-Jewish Hospital/Washington
University
Saint Louis, MO
City of Hope
Duarte, CA
Mayo Clinic
Jacksonville, FL
13
Recurring Revenue
$22.0
$20.0
$14.0
$10.3
$11.2
$12.1
Millions $
Millions $
$15.1
$16.0
$13.0
$11.7
$6.7
$7.0
$17.7
$17.0
$18.0
$12.0
$8.0
$20.0
$5.7
$6.0
$5.0
$5.0
$4.0
$4.9
$3.4
$3.0
$8.0
$6.0
$2.0
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
2014 2014 2014 2014 2015 2015 2015 2015 2016
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
2014 2014 2014 2014 2015 2015 2015 2015 2016
Installed Base
Gross Margin
800
$16.0
760
$14.4
750
$14.0
$12.6
710
$12.7
700
$12.0
647
$10.7
$10.0
Units
Millions $
$6.1
$4.3
$3.7
$10.0
$8.0
$7.0
$9.1
$7.8
$6.7 $6.9
650
600
$7.5
$6.0
550
559
581
591
611
575
528
500
450
$4.0
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
2014 2014 2014 2014 2015 2015 2015 2015 2016
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
2014 2014 2014 2014 2015 2015 2015 2015 2016
14
Growth Platform
14
12
Anastomotic
Leak Rate
10
8
6
4
2
N=139
0
PILLAR II
BSLR Trial
SLN identified
Technetium Only
83%
19%
79%
50%
87%
54%
96%
88%
5-year survival in stage II- IV in ovarian cancer at best case is 70% and the worse
case is 17%. 85% of patients with these types of cancers are in stage II- IV.
Guaranteed By SPY
18
Growth Drivers
1.
2.
International Expansion
3.
4.
5.
60%
50%
% Opportunity 40%
30%
20%
10%
Surgery
Wound Care
20
2. International Expansion
Key Markets
21
15
22
PILLAR III
25 U.S. centers
Recruitment on-going
Recruitment on-going
Images Courtesy of Nadeem Abu-Rustum, M.D., NY,NY and Michael Stamos, M.D. Irvine, CA
23
Long-Term Growth
First molecule (ICG) blood flow in vessels, perfusion, lymph nodes
- Product upgrades, new clinical applications
Second molecule on track for announcement in late 2016
- Critical anatomy
- Enablement of certain new surgeries
License or acquire rights to cancer imaging molecules
25
2016
1. Expanded, Focused
Sales Channels
2. International Expansion
2017
2018
Hardware/Software
PILLAR III
Submission to FDA
Submission to FDA
Phase III & NDA or PMA Submission
26