ORTC at Cruttenden Roth Growth Conference, 22 Feb 2000
I didn't have a chance to listen to the Web cast of the presentation, but I did view the slides, which are online:
vcall.com
The easiest way to view the slides is actually to view the images directly, rather than through the "slide show" app that Vcall set up. Slide #1 is at
vcall.com
To view subsequent slides, edit the address by changing img001.jpg to img002.jpg (Slide #2), img003.jpg (Slide #3), and so on. In all, there are 23 slides in the presentation.
Here are the highlights:
Slide #4
Skin ulcers, donor site wounds, partial thickness burns, plastic and reconstructive surgery, and "orphan type skin diseases" (EB, EM, TEN, SJS) collectively offer ORTC a $3.5 billion market opportunity.
Slide #7
Three approaches to wound care:
(1) Bilayered dermal and epidermal cells: Ortec pursues this approach, as does Novartis/Organogenesis.
(2) Unilayered dermal and epidermal cells: Johnson & Johnson (Regranex), Smith & Nephew/Advanced Tissue.
(3) Acellular: Johnson & Johnson (Integra), LifeCell.
Slide #8
ORTC's Competitive Advantages
(1) Superior clinical results
(2) Distribution advantage [cryopreservation, I presume]
(3) Less expensive to manufacture
(4) Easier to use
Slide #9
Comparative clinical efficacy, donor sites: ORTC, 8 day savings (43% acceleration); Organogenesis, 2 day savings (23% acceleration).
Comparative clinical efficacy, venous ulcers: ORTC, 50% close within 3 months (vs. 29% standard of care); Organogenesis, 47% close within 6 months of care (vs. 19% standard of care); American Tissue, failed. See slide for supplementary details.
Slide #16
Projected Product Approvals for Composite Cultured Skin (CCS)
EB, EM, TEN, SJS: first half 2000
Donor sites: third quarter 2001
Venous ulcers: first half 2002
Diabetic ulcers: first half 2003
Slide #17
CCS U.S. Target Markets
EB, EM, TEN, SJS: 2,900 patients -- $22 million
Donor sites: 81,360 patients -- $224 million
Venous ulcers: 350,000 patients -- $1.345 billion
Diabetic ulcers: 400,000 patients -- $1.560 billion
Partial thickness burns: 230,070 patients -- $381 million
Slide #18
Marketing Advantages
(1) Excellent clinical reputation and results
(2) Extremely user friendly
(3) 6-month minimum shelf life through cryopreservation
(4) Cost competitive
(5) Opportunity to partner with focused wound-care company
Slide #19
Financial Highlights
(1) Company has raised $48 million to date
(2) Institutional investors include Pequot Capital, Travelers (Citigroup), Soros, S Squared Technology
Slide #20
Capital Structure
Management ownership, 17%; institutional ownership, 49%. Cash on hand, $12 million; credit line, $3 million.
Slide #21
Projected 12-Month Milestones
(1) Product revenue after approval of CCS for EB, EM, TEN, SJS
(2) PMA filing -- donor site
(3) Presentation of clinical data: venous ulcer, diabetic ulcer, donor site, cryopreservation
(4) Strategic alliances |
