vitrolife ab (publ) · vitrolife ab (publ) danske bank’s copenhagen winter seminar 2018. thomas...
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VITROLIFE AB (PUBL)
Danske Bank’s Copenhagen Winter Seminar 2018
Thomas Axelsson, CEO
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LEADING COMPANY IN MEDICAL DEVICES FOR ASSISTED REPRODUCTION
2 * Rolling 12 months
A Swedish company
Founded in 1994
Approx 370 employees
Sales 1 102 MSEK*
98 % on export
Listed on NASDAQ Stockholm Mid Cap
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THE IVF-PROCESS – VITROLIFE PRODUCTS
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Hormonestimulation toincrease the number of retrievable eggs
HORMONETREATMENT
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AGE IS A CRITICAL FACTOR FOR SUCCESS
4 2015 Assisted Reproductive Technology, National Center for Chronic Disease Prevention and Health Promotion, Divison ofReproductive Health
Day 3 and Day 5 embryo transfers that resulted in live births by age
Percentages of ART cycles that resulted in miscarriage by age
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PRE-IMPLANTATION GENETIC TESTING
PGT-a (aneuploidy)- previously named PGS (Screening)
Testing whether the embryos are euploid (all 46 chromosomes)
Aiding clinicians in order to choose which embryo to transfer
PGT-m (monogenic)- previously named PGD (Diagnosis)
Testing to avoid that a certain mutation (altered gene) is inherited to child
Note: New applications, such as PGT-sr, looking at chromosomal rearrangements and PGT-p, looking at diseases caused by a large number of genes are emerging
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PGT-A WILL MATTER – MAINLY FOR OLDER PATIENTS
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Percentage of euploid or normal embryos by age Miscarriage rate by maternal age
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VERISEQ – OUR NEW OFFER IN PGT-A
Amplification Library Prep Sequencing Software
SurePlex WGA VeriSeq PGS BlueFuse Multi
OEM kit from Rubicon-Takara*
VeriSeq PGSlibrary prep
VeriSeq PGSIndex Adapters
MiSeq v3SBS Cartridge
MiSeq PR2 Buffer
MiSeq Flowcell
Validated algorithms to call embryo status
Clear visualization of genome
Automated reports
Note: Products are for research use only
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KARYOMAP12 - OUR OFFERING FOR PGT-M
REPLI-g Single Cell Kit Karyomapping assay Scanning
Laboratory purchases directly from QIAGEN
Infinium protocol
Hybridization
Washing
Staining
Array loaded onto scanner for imaging
Patented analysis algorithm
Visualisation of results
Reporting options
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Amplification Library Prep Sequencing Software
BlueFuse Multi
Note: Products are for research use only
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TREATMENTS & TECHNOLOGY THAT ARE INCREASING
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Time-lapse Pre-implantation genetic testing Cryo-preservation
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IMPROVED OUTCOMES USING TIME-LAPSE
Frequently captured images of an embryo result in a video showing the development
IMPROVED implantation rate 1-4 REDUCED pregnancy loss1, 5, 6 SHORTENED time to pregnancy 1
1. Rubio et al (2014);Fertil Steril 102 (5):1287-1294 e1285. 2. Meseguer et al (2012); Fertil Steril 98 (6):1481-1489 e1410. 3. Kovacs et al (2013);Fertil Steril2013;100(3):S90. 4. Siristatidis (2015); J Assist Reprod Genet 5. Barrie et al (2013); Fertil Steril 100 (3):S248 6. Vitrolife metaanalysis of Kahraman et al (2013); J Reprod Stem Cell Biotechnol;3:55-61, Kovacs et al (2013) and Rubio et al (2014. )
Artificial intelligence/deep learning algorithms tocreate automated objective embryo assessment tools
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EXPECTED SYNERGIES BETWEEN GENOMICS AND MORPHOLOGY
Non-invasive PGT is yielding promising results - and could prove to offer advantages compared to trophectoderm biopsy
Combining information from morphology and morphokinetics(time-lapse) could provide superior information when choosing what embryo to transplant
Deep learning / AI algorithms could improve bioinformatics to interpret sequencing data
Our leading position in time-lapse is an important asset in addressing these opportunities
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PRODUCTS AND SOFTWARE APPLICATIONS TO ALLOW SHORTERTIME TO PREGNANCY
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Time-lapse
Genetics Embryo selection Successful result
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AGING EGGS AND CHROMOSOME ISSUES
Source: US CDC/SART data
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REASONS THAT EGG FREEZING WOMEN CHOSE TO DELAYCHILDBEARING
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20
40
60
80
100
Lack of partner Professionalreasons
Financial reasons Too large of acommitment
Other
Source: ”What do reproductive age women who undergo oocyte cryopreservation think about the process as a meansto preserve fertility?” Fertility and Sterility
88%
24%15% 15%
8%
%
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SUMMARY Q3
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Sales of 284 MSEK (246) equals +15% in SEK
Sales increased by 7% in local currency EBITDA of 121 MSEK (43% margin) Licensing and commercialization
agreement with Illumina Inc., regarding preimplantation genetic testing after the end of the period
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SALES AND GROWTH PER MARKET REGION
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Total +7%
Q3 GROWTH RATE COMPARED TO LAST YEAR IN LOCALCURRENCIES
SHARE OF VITROLIFE’S SALESROLLING 12-MONTHS 14%
+31%
25%45%
* Whereof organic growth +7 percent
16%
+4% +0%+3%
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SALES AND GROWTH PER BUSINESS UNIT
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+8%
+4%
+17%TIME-LAPSE
DISPOSABLE DEVICES
MEDIA
ART EQUIPMENT
Quarterly growthLocal currencies
SEK millions, rolling 12m
482 500 519 536 543 545 543 562584
136 139 142148 150 148 151 149
153148160 178
209 233 254 271267 28220
39 5678 80
78 80 6561
0
200
400
600
800
1000
1200
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2016 2017
-30%
2018
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GROWTH DRIVERS PER BUSINESS UNIT
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SEK millions, rolling 12m
2018
Disposable Devices- Production capacity- Broaden portfolio
ART Equipment- Regulatory approval- Sales activities- Sensor integration
Time-lapse- Product offering- Support- Decision support / AI
584
153
282
61
0
200
400
600
800
1000
1200
Q3
Media- R&D- User support- Cryo
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SUMMARY
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Broaden the product portfolio
Time-lapse & genomics can give better clinical results
Technology and treatments that are growing
Good growth and high profitability
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Contact: Thomas Axelsson, CEO, [email protected], +46 31 721 80 01Mikael Engblom, CFO, [email protected], +46 31 721 80 14
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DISCLAIMER
This presentation contains estimates and forward-looking statements, which reflect the Management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there is no assurance that these statements are correct or will be achieved. The most important strategic and operative risks regarding Vitrolife’s business and field are described in the Management report, in the Annual Report. These are primarily constituted by macro-economic risks, operational risks and financial risks.
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Vitrolife aB (publ) leading company in medical �devices for assisted reproductionThe ivf-process – vitrolife productsAge is a critical factor for successPre-implantation genetic testingPGT-A will matter – MAINLY FOR older patientsVeriseq – our new offer in PGT-aKaryomap12 - our offering for PGT-MBildnummer 9Improved outcomes using time-lapseExpected synergies between genomics and morphologyProducts and Software applications to allow shorter time to pregnancyAging eggs and chromosome issuesReasons that egg freezing women chose to delay childbearingSummary Q3Sales and growth per market region�Sales and growth per business unitGrowth drivers per business unitsummary �Bildnummer 20Bildnummer 21