Updated Investor Presentation
TruScreen Group Ltd
NZX|ASX: TRU
FY2024
Accelerating growth
February 2024
Beata Edling
CEO TruScreen
This Presentation
Screening for Cervical Cancer,
world’s priority in 2024
About TruScreen technology
Key achievements YTD financial year
2024
China, our biggest market and growth
potential
Accelerating sales growth in financial
year 2024
Key takeaways
2
About
TruScreen
technology
4
WORLD CLASS technology made simple
Real-time, AI-enabled, primary cervical cancer screening
device for detection of pre-cancerous and cancerous cervical
tissue
►Optical and electrical measurements painlessly detect abnormalities in
cervical tissue
►A Single Use Sensor (SUS) used for each exam, preventing cross-
contamination
►AI-enabled algorithm provides Normal/Abnormal
result immediately
►No invasive cervical cell or tissue collection
►EU certified (CE Mark) and ISO 13485 compliant
class IIa medical device
5
20 Years of Clinical Studies with 42,000 Patients*
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
AustraliaAustralia
China- Wang ling
China- Zhang Wei
Poland
China- Lu
Korea
China- Zhang Wei
China- Feng
Korea
China- Cui Ying Ying
China- He Xiu Kui
China-Li Xia
China- Li Xi
China- Weihong Li
Russia-Sukhikh
Poland
Russia-Firichenko
Turkey
China-Shuai Ping
China- Zhang Wei
China- Shuyu Long
Iran
Bulgaria
Turkey
Indonesia
China- Du x
India
China- Li pei
Mexico
India
China
Mexico
Australia
China -COGA
China - Jinghe Land
China, Yu Ma
YingTing Wei et al
Poland, Suchonska et al
Jessica N. Vet et al
Fei Chen at all
2003 2004 2008 2008 2008 2009 2009 2009 2009 2010 2010 2010 2011 2011 2011 2011 2011 2011 2011 2012 2013 2013 2013 2013 2015 2015 2015 2015 2016 2016 2018 2011 2018 2018 2019 2019 2020 2021 2021 2022 2022
*Cumulative number of women subjects in independent clinical studies
Moving from multi-step, expensive screening to Point-of-Care Solution
6
TruScreen transformation of cervical cancer screening
Specimen
Collection
Label, Packaging
and Transport
Slide PreparationFixationStaining
Microscopic
Examination
InterpretationReporting
Communication
of Results
Perform TestObtain Result
Advantages
• Integration into healthcare systems: hospitals, clinics
• Immediate management of positive results with
streamlined patient flow efficiency
• Better patient experience
• Cost saving, time saving
• More efficient utilization of healthcare resources
2 - 3 weeks
Current cervical screening process is multi-step, error prone, people dependant, uncomfortable for a woman,
slow, expensive and inefficient (loss in follow up)
10 min
Trusted Clinical Performance
High sensitivity
in detecting
CIN2+*
High specificity
in detecting
CIN2+*
Extensive body
of clinical
evidence
TruScreen
®
has been found
to be as sensitive in
detecting CIN2+ as
cytology**
4
TruScreen
®
has been
found to be more specific
in detecting CIN2+ as
cytology**
4
Over 40,000 women in
clinical trials to date***
* CIN2: A cervical biopsy finding that means moderately abnormal cells were found on the surface of the cervix.
CIN2 is usually caused by infection with certain types of human papillomavirus (HPV). Source: NIH, www.cancer.gov
** Data from large observational study, Cytology used was ThinPrep
*** Total number of subjects across published and unpublished clinical studies in English, data from TruScreen device generation I and II
7
7
Cervical cancer
elimination
WHO priority in 2024
Cervical cancer is the fourth
most common cancer in
women globally
Globally, 604 000 new cases and 342 000
deaths were recorded in 2020
About 90% of these deaths occurred in
low- and middle-income countries
The highest rates are inAfrica, Central
America and South-East Asia.
20% of children who lose their mother to
cancer do so due to cervical cancer.
9
Source: Human papillomavirus and cancer (who.int)
10
Cervical Cancer Is A Global Public Health Issue
1
►
604,000new cases and 342,000deaths a year
►
Most diagnoses occur at working age (35-44)
►
90% of new cases and deaths occur in LMICs
Fourth most common cancer in
women worldwide, 1BN+ women
of screening age in LMICs
90% coverage of
HPV Vaccination
girls (by 15 years of age)
70% coverage of screening
& 90%treatment
of precancerous lesions
Management of
90% of cases
of invasive cancer
The World Health
Organisation (WHO)
has set a target to
eliminate cervical
cancer by the end of the
century.
1
Cervical cancer (who.int)
Screening most important for next 3 decades
11
In 2020, the CCEMC published the
modelling of the CC elimination as
well as commented on the status in
Lower-and Middle-Income
Countries (LMICs).
Compared to the status quo, by
2030, vaccination alone would have
minimal impact on death rate
Scaling up twice-lifetime screening
and cancer treatment would reduce
death rate by 34%averting
300 000–400 000 deaths by 2030.
Source:
WHO Cervical Cancer Elimination Modelling Consortium (CCEMC), 2020
Screening needs to accelerate, APEC example
12
1
APEC Economic Status Report: Cervical Elimination in the APAC region
March 2023
13
Effective co-invest model with global distribution
Distributors
End-users
1
Cervical cancer (who.int)
Lean headquarters
Recurring revenue
stream from consumable
SUS
Intellectual Property
Service &
manufacturing
Local knowledge
and influence
End-user
management
Public and private hospitals
and clinics
Public health initiatives
Governments & Non-
Government Organisations
14
European Union:
CE Mark
ISO 13485
Registered with:
TGA, Australia
MHRA, UK
NMPA, China
SFDA, Saudi Arabia
Roszdravnadzor, Russia
COFEPRIS, Mexico
TruScreen’s presence and markets*
Mexico
10.7 M
China
119.1 M
Russia
13.4 M
Africa
73.8 M
CE
Europe
6.7 M
Current Markets
Targeting commercial rollout
Markets under review
China
119.1 M
CE
Europe
6.7 M
India
100.1 M
Indonesia
23.1 M
China
119 M
Saudi
3.6 M
CE
Europe
6.7 M
Vietnam
8.3 M
* Number of eligible women to undergo cervical cancer screening
Key
achievements
Sales growth
FY2024
China:
TruScreen’s largest market and
growth opportunity
Remains TruScreen’s top market
●High government support for cervical cancer
screening
●Made in China TruScreenstatus from 2021 –
preferred market access in China
FY 2024 Market Progress
●Record sales of SUS: YTD FY24 results exceeded
total of FY23
●National Health Check Program to commence:
10000 women to be screened in 10 major
hospitals, over 3 years
●Roll out of COGA Blue Book & CSCCP guidelines
China market, USD M, PBI Market Research 2020
17
*©2020 Precision Business Insights
0.0
500.0
1000.0
1500.0
2000.0
2500.0
3000.0
3500.0
4000.0
2015 (A)2016 (A)2017 (A)2018 (A)2019 (A)2020 (F)2021 (F)2022 (F)2023 (F)2024 (F)2025 (F)2026 (F)
China Cervical Cancer Screening Market Historical and
Forecast, USD Million*
PAP Smear testsHPV testsLBC testsOthers M USD
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
CAGR (USD Million), By Test Type,
2015 – 2026*
PAP Smear testsHPV testsLBC testsOthers
China and APAC market, recent growth exceeded
expectations
18
HPV Test Market Revenue (Million USD) and Growth Rate
(2018-2028)
Business Market Insights
June 2023:
The Asia Pacific CIN & HR-HPV
treatment market is expected to grow
from US$ 2,738.94 million in 2023 to
US$ 3,949.99 million by 2028.
It is estimated to grow at a CAGR of
7.6% from 2023 to 2028.
19
December 2023, pipeline
•72 hospitals have obtained
OBGYN department acceptance,
awaiting hospital approval
•25 hospitals have received
TruScreen approval, awaiting
tender
•12 tenders won, awaiting hospital
installation
China, TruScreen FY2024 installations
By end of FY 2024
~100 devices
installed and in use
12
25
72
China, potential for SUS pull through growth
20
The devices in China
currently have an average pull
through of 106 SUS per device
per month, 24% growth in FY24
the potential average pull-
through of SUS exceeds 290
per month
Key accounts reach 500+ SUS
pull through
A B C D E F
Vietnam
Focus market with renewed focus on public hospital rollout
The Market Opportunity
●24m women of screening Age
*
,booming economy and
middle class
●No centralised screening programs
FY2024 Market Progress
●Ministry Of Health (MOH) has listed TruScreen on the
NationalTechnical List of approved technologies
●New legislation in March 2024 to considerably shorten
approval process, accelerating new installations
●2 main hospitals received MOH approval
Pipeline
●15 hospitals ready to apply to local authorities when new
legislation commences
●Strong local authorities support
*©2020 Precision Business Insights
Zimbabwe
●Very successful Government screening program in
Masvingo province, 14 000 women screened to date,
●Two tenders won in 2023
Saudi Arabia
●Commercial rollout commenced in FY24
●Most private health insurers are reimbursing
TruScreen procedure
Mexico
●COFEPRIS approval granted access to public health
sector
Poland
●TruScreen won top award in a Mother and Child
Institute challenge for healthcare companies,
granting implementation in the largest public
hospital network for women health in Poland
FY24 Other Markets
Top achievements FY2024
Sales and Revenue, Q1-Q3 FY2024:
SUS sales exceeded total of FY2023, 22%
growth YOY
Device sales 40% growth YOY
China, major contributor with immense
market growth opportunity
23
Achievements:
China: COGA Blue Book and CSCCP Guideline
entries
Vietnam: MOH inclusion in the National Technical
List
Saudi Arabia: commercial roll out and private health
insurers listing
Zimbabwe: continues NAC screening program,
TruScreen wins tender
Poland: TruScreen wins top award for
implementation in the largest public hospital
network for women health in Poland
Mexico: TruScreen receives Cofepris approval and
access to public health sector
Outlook strategy
and goals
FY2024-2025
Improve
operations
•Enhance marketing
•Reduce cost of goods
(COGS)
Strengthen
partnerships
•Enhance relationships
•Talk economics
•Provide solutions
Drive Growth
•Double down on
performance
•Diversify deliberately
FY2024- FY2025 Strategy
Focus on 3 strategic drivers
Strong together
25
Our Short Term Goals
26
Maximise
Seize the COGA
Blue Book &
CSCCP national
guideline window to
grow sales in China
Expand
Successfully expand
markets in
Zimbabwe, Saudi
Arabia, and Vietnam
Grow
Grow commercial
presence in Africa,
Middle East, Central
and Eastern Europe
Improve
Improve the gross
margin by reducing
COGS
Expansion and adoption of
technology in the screening cervical
cancer guidelines in target markets
Development of technology toward
diagnostics and treatment of
cancers
27
Long Term
Goals
28
*This is not a forecast of performance or expected results
0
50000
100000
150000
200000
250000
0
50
100
150
200
250
300
350
Mar '19Mar '20Mar '21Mar '22Mar '23Mar '24* Mar '25*
FY2019 - FY2023, actuals
FY2024 - FY025, projections*
Installed DevicesSUS Sales
we are here
Device installations and SUS sales FY2019- FY2025
Key take-aways
Sales growth from SUS
consumable usage driven by
increased device installed & use
China remains the biggest market
with huge opportunity
Global growth commenced
Transformative technology of the
immediate future
Cervical cancer elimination:
international priority in 2024
©
www.truscreen.com
Contact us
for more
information
31
Dr Beata Edling
CEO
M - +61 419 569 993
E – beataedling@truscreen.com
TruScreen
36 Bradfield Road, CSIRO
Lindfield West NSW 2070
Australia
www.truscreen.com
Guy Robertson
Chief Financial Officer
M – +61 407 983 270
E – guyrobertson@truscreen.com
TruScreen
36 Bradfield Road, CSIRO
Lindfield West NSW 2070
Australia
www.truscreen.com
@TruscreenGroupLtd
@TruscreenGroupLimited
32
Disclaimers
This presentation has been prepared by TruScreen Group Limited (the “Company”) and is dated 25 August2023. This presentation contains summary
information about the Company and its activities which is current as at the date of this presentation. The information in this presentation is of a general
nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible
investment in the Company. This presentation should be read in conjunction with the Company’s annual report, market releases and other periodic and
continuous disclosure announcements, which are available at www.nzx.com. This presentation does not constitute an offer, advertisement or invitation in
any place in which,or to any person to whom,it would not be lawful to make such an offer, advertisementor invitation.
Not financial product advice
This presentation is for information purposes only and is not financial or investment advice or a recommendation to acquire the Company’s securities, and
has been prepared without taking into account the objectives, financial situation or needs of prospective investors. Before making an investment decision,
prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and
consulta financialadviser, solicitor, accountant or other professional adviser if necessary.
Past performance
Any past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication
of future performance.No representations or warranties are made as to the accuracyor completenessof such information.
Future performance
This presentation includes certain “forward-looking statements” about the Company and the environment in which the Company operates. Forward-
looking information is inherently uncertain and subject to contingencies, known and unknown risks and uncertainties and other factors, many of which are
outside of the Company’s control, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not
be correct. A number of important factors could cause actual results or performance to differ materially from any forward-looking statements. No
assurance can be given that actual outcomes or performance will not materially differ from the forward-looking statements. The forward-looking
statements are based on information available to the Company as at the date of this presentation. Except as required by law or regulation (including the
Listing Rules), the Company undertakes no obligation to provide any additional or updated information whether as a result of new information, future
events or results or otherwise.
33
References
1.WHO, HPV and Cervical Cancer Fact sheet, 11 November 2020, https://www.who.int/news-
room/fact-sheets/detail/human-papillomavirus-(hpv)-and-cervical-cancer
2.WHO Cervical Cancer Elimination Modelling Consortium (CCEMC), 2020
3.Human papillomavirus and cancer (who.int)
4.Wei, Y., Wang, W., Cheng, M., Hong, Z., Gu, L., Niu, J., Di, W., & Qiu, L. (2021). Clinical
evaluation of a real-time optoelectronic device in cervical cancer screening.European journal
of obstetrics, gynecology, and reproductive biology,266, 182–186.
https://doi.org/10.1016/j.ejogrb.2021.09.027.
5.Vet, J. N., Haindl, J. P., Velasquez, C., Parker, L. J., Burns, M. I., Morrell, S., & Campion, M.
J.. (2022). A Performance Evaluation of an Optoelectronic Cervical Screening Device in
Comparison to Cytology and HPV DNA Testing.European Journal of Gynaecological
Oncology,43(2), 213. https://doi.org/10.31083/j.ejgo4302027
6.Central Intelligence Agency, The World Fact Book, CHINA, People and Society, Female ages
25-64 Years, visited 28 August 2020, https://www.cia.gov/library/publications/the-world-
factbook/geos/ch.html
7.Central Intelligence Agency, The World Fact Book, VIETNAM, People and Society, Female
ages 25-64 Years, visited 28 August 2020, https://www.cia.gov/library/publications/the-world-
factbook/geos/vm.html
A world
without
cervical
cancer.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.