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Company Presentation
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Disclaimer
This presentation has been produced by Medios AG (the „Company“) and is strictly
confidential. The distribution of this presentation in certain jurisdictions is restricted by law
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about, and observe, any such restrictions. This presentation is furnished to you solely for
your information and may not be copied, distributed or otherwise made available, in
whole or in part, to any other person.
The facts and information contained herein are as up to date as is reasonably possible and
are subject to revision in the future. None of the Company or its directors, officers,
employees or advisors nor any other person makes any representation or warranty, express
or implied as to, and no reliance should be placed on, the accuracy or completeness of the
information contained in this presentation. None of the Company or any of its directors,
officers, employees and advisors nor any other person shall have any liability whatsoever for
any loss howsoever arising, directly or indirectly, from any use of this presentation. The same
applies to information contained in other material made available at the presentation. While
all reasonable care has been taken to ensure the facts stated herein are accurate and that
the opinions contained herein are fair and reasonable, this presentation is selective in nature
and is intended to provide an introduction to, and overview of, the business of the Company.
Where any information and statistics are quoted from any external source, such information
or statistics should not be interpreted as having been adopted or endorsed by the Company
as being accurate.
This presentation contains certain forward-looking statements relating to the business,
financial performance and results of the Company and /or the industry in which the
Company 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 in English or equivalent
expressions in German.
The forward-looking statements, including but not limited to assumptions, opinions and
views of the Company or information from third party sources, contained in this presentation
are based on current plans, estimates, assumptions and projections and involve uncertainties
and risks. Various factors could cause actual future results, performance or events to differ
materially from those described in these statements. The Company does not guarantee that
the assumptions underlying such forward-looking statements are free from errors nor does it
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.
This presentation does not constitute or form a part of, and should not be construed as,
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connection with, any offer or commitment whatsoever.
In particular, this presentation does not constitute an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States. The shares in the
Company may not be offered or sold in the United States or to or for the account or
benefit of „U.S. persons“ (as such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the „Securities Act“)) absent registration or an exemption from
registration under the Securities Act. The shares in the Company have not been and will
not be registered under the Securities Act.
This presentation speaks as of May 2019. Neither the delivery of this presentation nor
any further discussions of the Company with any of the recipients shall, under any
circumstances, create any implication that there has been no change in the affairs of
the Company since such date.
Medios AG 05/2019
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Manfred SchneiderChief Executive Officer
Matthias GärtnerChief Financial Officer
Mi-Young Miehler Chief Operating Officer
Christoph PrußeitChief Innovation Officer
Pharmacist
More than 20 years of pharmacy markets experience
IT-Specialist
More than 20 years offinancial marketsexperience
Business Economist
Business developmentspecialist
Pharmacist
Expert in the area of pharmaceuticals production and safety
Medios AG 05/2019
3
Management team
Group€m
327.8
12%
Supply
Manufacturing
• Strongly positioned in patient-specific medication
• 90,000 individualised preparations in 2019
• Highly focused onSpecialty Pharma drugs
• 1,000 products available
Medios at a glance Medios AG 05/2019
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PHARMACEUTICAL SUPPLY PATIENT-SPECIFIC MANUFACTURING
Specialist for the provision of Specialty Pharma drugs to patients and GMP-certified provider of patient-specific therapies.
Specialty Pharma: Individualised Medicine, treatment of chronic and/or rare diseases, mostly time and cost intensive
BUSINESS SEGMENTS
2018 revenue split 2018 revenue split
DRUG SAFETY
• Innovative measurement-, validation- and certification method
Group€m
327.8
88%
Supply
Manufacturing
Opdivo ®(manufacturedproduct,*1
no set purchaseprice)
• Skin cancer
• Lung cancer
• Renal cell carcinoma
• Treatment: 6-12 months
• Up to EUR 160,000 per patient/year
Humira ®
• i.a.rheumatism
• Treatment:approx. 12weeks
• Up to EUR 42,000 perpatient/year
Harvoni ®
• Hepatitis C • Treatment:8-24 weeks
• Up to EUR 100,000 per therapy
Replagal ®
• MorbusFabry
• Treatment:6-54 months
• Approx. EUR300,000 per patient/year
Cancer diseases
• Breast cancer• Prostate
cancer• Leukaemia,
etc.
1,600,000
Others
Infectious diseases
Autoimmune diseases
200,000
300,000
1,500,000
Medios has the broadest Specialty Pharma product portfolio to address EUR 12.5bn market opportunity in Germany
Medios AG 05/2019
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INDICATION CATEGORY
MEDIOS PRODUCT EXAMPLES
* incl. estimated numbers of cases per year in Germany (sources: DAlzG, bms-virologie.de, RKI, PZ, dgn.org, DGRh, Der Nervenarzt, krebsinformationsdienst.de, morbus-crohn-aktuell.de, fachinfo.de, hivandmore.de, shire.de) *1Patient-specific preparation required
Product from segment ‘Patient-specific Manufacturing’; Product from segment ‘Pharmaceutical Supply’
INDICATION
# OF PATIENTS P.A.
IN GERMANY*
PRODUCT DISEASE THERAPY (EXEMPLARY) COSTS
• Multiple Sclerosis
• MorbusCrohn
• Rheumatism
• Hepatitis C• HIV
• Alzheimer• ALS• Morbus Fabry
450,00088,400
1,000,0008,0002,000
44,6
45,8
47,848,2
49,1
2013 2014 2015 2016 2017
Pharmacies turnover in Germany (in EUR bn)
100
123
149158
192
100 106 111 108 111
2013 2014 2015 2016 2017
Revenue Specialty Pharma Drugs* vs. Revenue other RX-Drugs (in %)
Specialty Pharma Drugs
RX-Drugs
* Sources: Arzneiverordnungsreport 2018, ABDA Zahlen, Daten, Fakten 2018; *1Patient-specific preparation required
REVENUE OF PHARMACIES IN GERMANY 2017
Dynamic market development in Germany
1/3Manufactured products*1
Market environment
2/3Finished medicinal products
Total revenue
EUR 49.1bn +1.9% yoy
EUR 39.4bn -1.0% yoy
Rx drugsrevenue
EUR 12.5bn forecast: 10% yoy
Specialty pharmadrugs revenue*
thereof
thereof
Medios AG 05/2019
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Strong underlying drivers for future market growth
DEVELOPMENT OF NEW ACTIVE PHARMACEUTICAL INGREDIENTS PATIENT-SPECIFIC MEDICINE DEMOGRAPHIC CHANGE
New therapies mainly focused on rare,
chronic or genetic diseases
Diagnostics and therapies are increasingly individualised
– impact of gene based medical knowledge
Considerable increase in chronic diseases due to an ageing population
Expected market growth of Specialty Pharma in Europe by 2020: ~ 10% p.a.*
Medios AG 05/2019
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*Source: IMS Health, forecast for growth 2015 – 2020 for Spain, Italy, France, UK and Germany
Market environment
Medios is a highly specialised partner for Specialty Pharma Drugs across Germany
Medios AG 05/2019
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OnkologyAutoimmune
Infectious DiseasesOther
INDICATION SPECIFIC PARTNERS
More than 180 specialised partners nationwide (as of May 2019)
Coverage of the entire Specialty Pharma market:
various indications
BENEFITS FOR PARTNERS
Attractive purchasing and payment conditions
Optimised purchasing management:planning and bundling of our partners needs
Ensuring delivery capability
Market positioning
STRONG PARTNER NETWORK ACROSS GERMANY
Pharmaceutical Supply: ‘Classic’ trading structure of full-range wholesale
Medios AG 05/2019
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Standard condition agreements on the entire range of products of the respective manufacturer – approx. 100,000 products
Pharmaceutical Company 1 Pharmaceutical Company 2 Pharmaceutical Company 3
Market positioning
Medios AG 05/2019
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Individual conditions agreement at individual product level max. 1,000 specialty pharma drugs
Pharmaceutical Company 1 Pharmaceutical Company 2 Pharmaceutical Company 3
Pharmaceutical Supply: Medios’ innovative trading structureMarket positioning
19.500
1,000
Full Range Wholesaler
Medios
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100,000
1,000
20
1
EUR 39.4 bn
EUR 12.5 bn
All Highlyspecialised Pharmacies
Fullassortment
of Drugs
Specialty Pharma Drugs
Regionalwarehouses
Centralwarehouse
Rx-Drugs Specialty Pharma Drugs
MARKET POTENTIALDISTRIBUTIONSYSTEMPRODUCT RANGEPHARMACIES
IN GERMANY
Medios AG 05/2019
~5% 1% 5%
31.8%
Pharmaceutical Supply: Medios is highly focused and highly efficient
Market positioning
DOCTOR
• Order received at the pharmacy
PHARMACY
• Validation of the prescription
• Order placed at Medios
• Additional confirmation of the prescription
• Manufacture of the medical preparation in accordance with GMP
PHARMACY
• Fast delivery to the doctor –invoice to the insurer
DOCTOR
• Timely administration of the prescription
Patient-specific Manufacturing: Medios is the only player at scale covering a broad range of indications
Medios AG 05/2019
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• Nationwide supply with individualised application ready infusions for various indication areas (e.g. oncology, neurology, gastroenterology)
• Production complies with highest quality standard GMP
• More than 60,000 preparations in 2018
• Approx. 90,000 preparations in 2019 (+50% yoy)
• 10 workstations at two production sites in Berlin
• Cost & process synergies with segment ‘Pharmaceutical Supply’
Patient-specific medication process in Germany Strongly positioned in patient-specific medication
Market positioning
• Full-line wholesalers (approx. 100,000 products)• Primarily a logistics partner not a consulting partner• Mandatory legal inventory range
of 14 days• Intransparent discount structures
• Mainly regional focus• Primarily manufacturers,
not consulting partners• Limited range
• Limited range• Focus on niche segments and special processes
• Limited capacity• No GMP certification
• Less cost effective manufacturing
Medios is strongly positioned in the competitive environment Medios AG 05/2019
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more than 200 pharmacies
with clean room laboratory
Diagram is an example / Source: ABDA; * Pharmacies with approved clean room laboratory
Market positioning
35%63%
82% 76%65%
37%
18%24%
2.8
5.8
8.0
11.0
14.5-15.5
Proven financial track record with strong profitable growth Medios AG 05/2019
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Revenue in EUR m
Adj. EBT in EUR m
*2015 and 2016 pro-forma; *1CAGR = Compound Annual Growth Rate; *2Adjusted for extraordinary expenses e.g. stock options
Pharmaceutical Supply
Patient–specific Manufacturing
2015* 2016*
Key Financials
2017*² 2018*² 2019E*²
62%75%
83%88%
38%25%
17%
12%
90160
254
328430-440
Pharmaceutical Supply
Patient–specific Manufacturing
Adj. EBT Margin 3.1% 3.6% 3.2% 3.4% 3.3-3.6%
Medios Group IFRS
AnalyticsMedios Group
Medios AG 05/2019
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• Currently more than 180 pharmacies covered
• Cover 300pharmacies mid-term
• Cover 1,000pharmacies long-term
Grow customer base and partner
network
E-COMMERCE• Roll-out Specialty
Pharma tradingplatform for all market players
EFFICIENCY• Roll-out
individualisedsoftware solutionsfor increasedefficiency andmarginoptimization
MARKETINTELLIGENCE• Roll-out
innovative datacluster model
Benefit from digitalisation
• Introduce and roll-out innovative NIR spectroscopy analytics service
• Set up third business segment “Analytics”
Expand into Analytics
Extend product range and
expandto further
indication areas
We have an organic growth strategy in place to be the leading provider of Specialty Pharma solutions in Germany
Growth strategy
• Currently more than 400 specialty pharma drugs offered
• Extendoffering to 1,000 specialty pharma drugs
Patient-specific Manufacturing
• Increase in margins due to significant economies of scale
Utilise existing capacities
Expand existing production capacities
• Currently90,000individualised therapies
• Possibility to expandcapacity to up to 200,000 individualised therapies
NUMBER OF PATIENT-SPECIFIC PREPARATIONS
Increase in margins due to significant economies of scale
40.000 60.000 90.000 100.000
200,000
*CAGR – Compound Annual Growth Rate
2017 2019 2020 Max. potential at existing sites2018
Patient-specific Manufacturing: Utilise existing and expand capacities; Scalability of production capacity at existing sites (10 workstations)
Medios AG 05/2019
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Growth strategy
EXTRACTION OF SAMPLE ANALYSIS CERTIFICATION PROCESS
• Rubber seal of vial is perforated
• Drug no longer sterile and therefore useless
• Hours to days until result
• Incoming drug in quarantine
• No batch release untilsucessful test result available
• Release and certification of incoming drug material or rejection
• Complete disposal of test sample
17
Drug Safety: Traditional drug testing Medios AG 05/2019
Research & development
MEASUREMENT DATABASE CERTIFICATE
• Measurement by non-destructive method
• Analytical results available within less than 3 minutes
• Alignment with Mediosindividual Database
• Increase in validity basedon continuously growingdatabase (intelligent cloudsystem)
• Medios allowed to issue certificates for third parties as proof of authenticity
18
Drug Safety: Innovative NIR* Spectroscopy Medios AG 05/2019
* Near-infrared
Research & development
Example: Velcade®, 15 batches, 5 samples each. Reference rangeAnalysed productWithin the range, reduced quality (degredation)
19
Falsified products
Drug Safety: The Medios Approach (patent pending)Research & development
Key investment highlights Medios AG 05/2019
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1 Highly attractive and strongly growing Specialty Pharma market driven by structural tailwinds
MARKET
2 Uniquely positioned as first mover with clearly defined competitive advantages within the field of individualised medicine
POSITIONING
3 Strong, synergistic business model with clear value-add for stakeholdersBUSINESS MODEL
4 Proven financial track record with continuous, profitable asset-light growthFINANCIALS
5 Highly experienced founder-led management team with clear strategy for profitable growth
STRATEGY
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Medios AG 05/2019