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Gentian Diagnostics ASA

Investor Presentation Sep 2, 2020

3604_rns_2020-09-02_81ce61c6-f420-4329-a7e8-0de765cec109.pdf

Investor Presentation

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Company presentation Pareto Healthcare Conference

September 2nd, 2020

Hilja Ibert, CEO

Important notice

This presentation has been prepared by and is the sole responsibility of Gentian Diagnostics AS (the "Company" or "Gentian"). The presentation is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The information herein and any other material discussed is subject to change. The presentation contains certain forward-looking statements relating to the business, future financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. Any forward-looking statements contained herein, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Potential investors are expressly advised that financial projections, such as the revenue and cash flow projections contained herein, cannot be used as reliable indicators of future revenues or cash flows. Neither the Company (nor any of its parent or subsidiary undertakings) or the Managers (or any such person's representatives, officers, employees or advisors) provide any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. No obligation is assumed to update any forward-looking statements or to conform these forward-looking statements to our actual results. Nothing in this presentation shall constitute an offer to sell or a solicitation of an offer to buy any shares in the Company in any otherwise expressly indicated, this presentation speaks as of the date set out on its cover. In addition, no responsibility or liability or duty of care is or will be accepted by the Company for updating this presentation (or any additional information), correcting any

The distribution of this presentation may also in other jurisdictions be restricted by law. Accordingly, this presentation may not be distributed in any jurisdiction except under circumstances that will result in compliance with applicable laws and regulations. The Company require persons in possession of this presentation to inform themselves about, and to observe, any such restrictions.

jurisdiction in which such offer or solicitation is unlawful.

Nothing contained in this presentation is or should be relied upon as a promise or representation as to the future. Except where inaccuracies in it which may become apparent or providing any additional information.

Gentian Diagnostics – Corporate overview Listed on Merkur Market since December 2016

  • Acts in the life science market with global reach
  • Headquartered in Moss, Norway
  • Shares outstanding: 15.4m
  • Market cap end 2Q NOK 778m
  • More than 900 shareholders
  • Major shareholders include Vatne Capital, Holta asset management
  • Cash position end of 2Q: NOK 161.1m

We innovate diagnostic efficiency

Efficiency gains for immunoassays

Moving immunoassays to clinical chemistry: Making them available for high-throughput and cost effective instruments

IVD Reagent Market 2018 65B USD/2023 78B USD CAGR : 4% Source: Kalorama, 2018

Products and pipeline: 1 new product per year

Sales model

Global Diagnostics Companies

roll-out and acceptance of product

Distributors serve directly

Healthcare providers

institutions in selected markets

Sales and revenues

Sales revenues - geographic split
MNOK 2Q20 2Q19 1H20 1H19
US 1.0 0.6 1.7 1.1
Europe 9.9 7.7 21.1 15.1
Asia 5.7 1.9 10.1 4.6
Total 16.6 10.2 32.9 20.8
Sales revenues - product split
MNOK 2Q20 2Q19 1H20 1H19
Cystatin C 8.5 3.9 15.0 8.6
fCAL® turbo 3.9 3.0 9.2 6.9
Other 4.3 3.3 8.7 5.3
Total 16.6 10.2 32.9 20.8
fCAL® turbo 3.9 3.0 9.2 6.9
Other 4.3 3.3 8.7 5.3
Total 16.6 10.2 32.9 20.8

Financial highlights 1H 2020

MNOK 1H 2020 1H 2019
Sales 32.9 20.8
Other
Revenues
6.1 3.4
Total Revenues 39.0 24.2
COGS 16.2 12.0
R&D Costs 10.7 9.3
SG&A 17.5 14.6
Capitalization -0.6 -1.4
OPEX 43.7 34.6
EBITDA -4.7 -10.4
EBIT -7.8 -27.9

Cash flow and cash position

Operating activities 1.1 -
9.7
-
23.1
Investing
activities
-
1.2
-
0.4
-
4.7
Financing
activities
-
0.1
-
0.1
0.7
Changes in cash and cash equivalent -
0.2
-
10.2
-27.1
Cash
and cash equivalent at the beginning of period
161.4 171.6 198.6
Cash
and cash equivalent at the end of period
161.2 161.4 171.6

CoV-2 Ab

The first turbidimetric antibody/serology test for SARS-CoV-2

The alternative to closed system immunochemical SARS-CoV-2 serology testing

  • Open system turbidimetric SARS-CoV-2 antibody testing for clinical chemistry analysers
  • High throughput and efficient workflow with a cost-effective assay
  • Addressing segments of immune status screening of the population, donor identification of convalescent plasma/serum for COVID-19 patients, measure and monitor vaccine response, complementing PCR-based diagnosis
  • Designed for maximum sensitivity and specificity
  • Product development is supported by the Norwegian Research Council with up to MNOK 8.0

G-1001

Fast and accurate cardiovascular testing

G-1001 – cardiac maker designed for high volume clinical chemistry platforms Immunossay to be run on open clinical chemistry analysers independent of the platform Pushing the boundaries of PETIA - highly sensitive at low concentrations, measure

  • Improved workflow and diagnostic efficiency in diagnosis of cardiac diseases
  • provider
  • No biotin interference, a common problem for current assays in the market
  • concentrations in the range down to ng/L levels
  • Cardiac Marker segment value is reported to be at 2B USD in 2022, the target category is estimated to be 1B USD

Performance data of Gentian PETIA assay – correlation between clinical analyzers

The graph below shows the correlation between the same patient samples measured on the Mindray BS400 and Abbott Architect c4000 clinical analyzers (same reagents and calibrators used on both instruments).

This is the first time that a turbidimetric method shows consistent values for this kind of biomarker below 1000 ng/L.

Summary

  • Technology innovator with global footprint
  • Customers benefit from product solutions for diagnostic efficiency
  • Double digit sales growth
  • Current business plan is fully funded

Get in touch with us

HQ GENTIAN AS

GENTIAN DIAGNOSTICS AB

GENTIAN USA INC.

BEIJING REP. OFFICE Chaoyangmen Outer St Jia No.10 Chaoyang District, Beijing, China

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