The Manager Company Announcements Office ASX Limited LBT INNOVATIONS TO PRESENT AT AUSBIOTECH BROKER MEETS BIOTECH EVENT Adelaide, Australia, 22 September 2016: The newly-appointed Chief Executive Officer of LBT Innovations Limited (ASX: LBT), Mr Brent Barnes, will deliver his first major presentation as Company CEO at the AusBiotech Broker Meets Biotech twilight event in Adelaide today from 5:30pm. Mr Barnes, who started as Company CEO on 8th August, 2016, will address brokers, investors and financial advisors with an updated overview of the company. Specific updates will be given on APAS (Automated Plate Assessment System), a breakthrough artificial intelligence technology for the automated imaging, image analysis, interpretation and reporting of growth on microbiology culture plates after incubation. Refer to attached presentation for further details. Today s AusBiotech event will be hosted by Mat Palmer of INC Research and will feature an overview of the biotechnology sector s investment landscape by Senior Analyst Stuart Roberts of NDF Research. This will be followed by presentations from three companies, including LBT Innovations. Event details: Date: Time: Venue: Thursday 22 September 4:45pm for a 5:30pm start Crowne Plaza Adelaide 16 Hindmarsh Square, Adelaide About LBT Innovations ENDS LBT Innovations (LBT) is an Australian developer of clinical and diagnostic technology. Based in Adelaide, South Australia, the Company has two innovative products in microbiology automation: MicroStreak, which provides automation of culture plate streaking, and APAS, a breakthrough in automated culture plate reading, interpretation and reporting. Based on LBT's innovative intelligent image interpretative platform. APAS specifically addresses the automated imaging, analysis and interpretation of culture plates following incubation. LBT has entered into a joint venture with Hettich AG Switzerland to drive the commercialization of APAS products. LBT also has a third product in development, WoundVue, a proposed automation solution to assist in the management of chronic wounds. For more information, see www.lbtinnovations.com CONTACTS LBT Innovations Brent Barnes CEO Tel: +61 (0)8 8227 1555 M: +61 (0) 409 677 654 E: info@lbtinnovations.com Media Relations Rudi Michelson Monsoon Communications Tel: +61 (0)3 9620 3333 M: +61 (0) 411 402 737 E: rudim@monsoon.com.au Page 1 of 1
ASX code: LBT lbtinnovations.com LBT Innovations Limited (ASX:LBT) Business Overview Broker Meets Biotech Brent Barnes CEO 22 nd September, 2016
Disclaimer This document contains certain forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forwardlooking 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. Slide No. 1 LBT Innovations 2016
Incoming CEO: First 6 weeks Started 8 th August, 2016 and Adelaide based; Previously Senior Executive with Cochlear Limited (ASX: COH); Business reviews completed with LBT s Engineering partners; Successful LBT Board offsite strategy meeting completed in August; Completed strategy meeting in Europe with Joint Venture company Clever Culture Systems; Positive business momentum, moving into Commercialisation phase. Brent Barnes LBT Innovations Chief Executive Officer Slide No. 2 LBT Innovations 2016
LBT s Purpose We make Healthcare delivery more efficient with the objective of improving patient outcomes. By having deep domain expertise, we develop products that have at their core, our intelligent imaging platform and interpretive algorithms which improve inefficiencies in healthcare delivery. Slide No. 3 LBT Innovations 2016
Current Focus Commercialisation of APAS Current Status FDA 510k de novo submission is progressing well and as expected through FDA review; In discussions with an international diagnostic company to form an alliance; Commercial version of APAS Independence will be available within the next 12 months; Design processes under way for second product - APAS Incubot, Product Line Status APAS Independence expected ready for sale late 2017 following in-lab trials; First line extension - APAS Incubot; Early stage development now underway for further line extensions up and down the microbiology culture plate work flow process. Industry first, modular suite of microbiology automation products Revenue from Product Sales and flow on recurring annual Software Licenses Slide No. 4 LBT Innovations 2016
APAS Product Overview - Primary competitive advantage through Intelligent Imaging Features Expect to be first to market with Intelligent Imaging; Modular design easily integrated into culture plate work flow; More affordable stepwise entry into Lab automation. APAS Independence prototype demonstrated at conferences: European Congress of Clinical Microbiology and Infectious Diseases, April 2016 American Society of Microbiology, June 2016 Opportunity APAS targets small, medium and large laboratories, offering modular approach; ~27,000+ laboratories globally in this target segment. Slide No. 5 LBT Innovations 2016
Other Key Areas of Focus MicroStreak - LBT first product commercialised as Previ Isola Seeking new license partners or outright sales. Discussions under way; Product has more than paid its way - Revenue to date $21+ mill versus cost base of $14 mill. Intelligent Imaging Platform New product Stream Woundvue product progressing through early stage development following market survey: Positive results from important US market survey; Reimbursement process being carefully assessed. Several other Healthcare product opportunities being evaluated. Organisational capability Recruitment of new CEO complete; Continuing to leverage Lusia Guthrie through role as Chairman for CCS JV. Intelligent Imaging Platform effectively validated by APAS clinical trials program incorporated into FDA 510k de novo submission Slide No. 6 LBT Innovations 2016
Financials Year Ended June 2016 Profit & Loss Year Ending Year Ending $000's June 15 June 16 Revenue $ 2,367 $ 7,726 Including License Fees, Upfronts & Milestones $ 1,000 $ - MicroStreak license fee renegotiation $ 846 $ 7,520 Net Profit/(Loss) before tax -$ 336 $ 4,120 Net Profit/(Loss) after tax $ 549 $ 3,541 Basic EPS (cents) 0.28 3.08 Balance Sheet Cash Position $ 1,818 $ 4,684 Accounts Receivable $ 838 $ 525 R&D tax concession receivable $ 1,825 $ 1,331 Intangible assets MicroStreak & APAS Development Costs $ 16,868 $ 20,583 Key Driver in 2015/16 Renegotiation of MicroStreak license with biomerieux A$7.5 million Future Direction Building recurring product revenue stream via APAS and its line extensions Relicense or sale of MicroStreak New product direction building off Intelligent Imaging Platform. Shares on issue (millions) 114.723 114.988 Options on issue (missions) 2.60 3.20 Slide No. 7 LBT Innovations 2016
Anticipated news flow 2016-2017 Date Category News details Observations on Variations in Manual Reading of Cultures published in Joint Venture CCS Journal of Clinical Microbiology Joint Venture CCS FDA 510k de novo clearance for first application of APAS Patent Portfolio 3rd and 4th US Patent approvals for APAS Joint Venture CCS Letter of Intent with global diagnostics company for APAS Imaging Platform Prototyping of Woundvue concept product Imaging Platform Evaluation of further clinical applications for product pipeline H2 2016 2017 Joint Venture CCS Signing of alliance with global diagnostics company for APAS Joint Venture CCS Market acceptance testing of APAS lab instruments MicroStreak Signing of license or sale agreement with new partner Joint Venture CCS APAS Independence first commercial sale by global alliance partner Imaging Platform Woundvue concept product prototype developed and in trials. Slide No. 8 LBT Innovations 2016
LBT Investor summary September 2016 Key Statistics Code ASX:LBT Listed ASX 2006 Current Price (15 September 2016) 18.0 cents 52 Week High 22.0 cents 52 Week Low 10.0 cents Shares Outstanding 114.99 million Market Cap A$20.70 million Net Cash (30 June 2016) A$4.68 million Directors, Senior Management 14.4% Background Cost-effective management since 2004 inception: 74% cash funding via operating cash flow; 26% via equity 2009 launch MicroStreak as PREVI Isola via biomérieux 2010 commenced Intelligent Imaging platform 2012 Automated Plate Assessment System APAS concept proven 2013 Clever Culture Systems (CCS) APAS joint venture with Hettich 2015 Woundvue Proof of Concept and global market research 2015 PREVI Isola license renegotiated, $7.9 million paid to LBT 2015 APAS 510(k) de novo submission to US FDA 2016 CCS in discussion with global alliance partner for APAS 2016 CEO L Guthrie retires, Brent Barnes commences Future Priorities APAS Independence and APAS Incubot market launch and supply Develop further innovative lab instruments incorporating APAS Investigate new partnering for MicroStreak post biomérieux Develop new product concepts from Intelligent Imaging platform Top Shareholders biomérieux (non-exclusive licencee PREVI Isola) 8.5% B Moran & Morcap Pty Ltd 6.1% L H Guthrie (LBT CEO) 5.4% R A Finder (LBT Chairman) 4.9% Avanteos Investments Ltd (1) & (2) combined 4.7% Allora Technology (Brydon Family) 3.2% Slide No. 9 LBT Innovations 2016
Questions? Brent Barnes CEO Level 1, 300 Flinders Street Adelaide SA 5000 P +61 (0)8 8227 1555 F +61 (0)8 8223 1775 info@lbtinnovations.com lbtinnovations.com LBT Innovations 2016