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Urologix, Inc. (ULGX)
 

Urologix, Inc. (ULGX)

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OneMedForum New York 2010, Company Presentation: Urologix, Inc. operates as a medical device company that engages in developing, manufacturing, and marketing non-surgical therapies to treat benign ...

OneMedForum New York 2010, Company Presentation: Urologix, Inc. operates as a medical device company that engages in developing, manufacturing, and marketing non-surgical therapies to treat benign prostatic..Learn More at:http://www.onemedplace.com/database/list/cid/77

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    Urologix, Inc. (ULGX) Urologix, Inc. (ULGX) Presentation Transcript

    • June 30, 2010 Urologix, Inc. Company Overview (NASDAQ: ULGX) for OneMedForum
    • Disclaimer & Forward Looking Statements
      • This presentation contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate” or “continue” or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the Company’s plans and future revenue and operating performance and statements about the Company’s ability to develop and market new products. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties that could cause the actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the risk factors and other cautionary statements described in the Company’s Annual Report on Form 10-K for the year ended June 30, 2009 and other documents filed with the Securities and Exchange Commission.
    • Urologix is a medical device company that develops, manufactures and markets minimally invasive Cooled ThermoTherapy™ technology to urologists to provide a durable and effective in-office treatment for patients suffering from benign prostatic hyperplasia (BPH). Urologix, Inc.
    • Urologix Investment Highlights
        • Proprietary Technology
        • Large Market Opportunity
        • Proven Clinical Benefit
        • Established Reimbursement
        • Value Proposition for Patients, Providers & Payors
        • Experienced Management Team
    • Urologix’ Solution
        • Cooled ThermoTherapy ™
        • CooledThermoTherapy™ is a minimally invasive, durable treatment for Benign Prostatic Hyperplasia (BPH)
    • Cooled ThermoTherapy (High Energy, Cooled TUMT) Temperature greater than ~50 °C is sufficient for tissue necrosis (30-40 minute treatment) *Simulation of in vivo temperature field based on Pennes bio-heat equation. Data and methods on file at Urologix, Inc. Urethral Preservation
    • The Technology behind Microwave Therapy ¹ Larson, T., et al, Detailed Interstitial Temperature Mapping During Treatment with a Novel Transurethral Microwave Thermoablation System in Patients with BPH, J of Urol. Vol 159, Jan 1998 ² Larson, T., TUMT: Comparative effects of high vs. low Temperature Treatment. Minimally Invasive Procedures in Urology, Mayo Scottsdale White Paper, April 2001 ³ Larson, B., et al, In Vivo Temperature Mapping of Prostate during Treatment with Thermatrx TMx-2000 Device: Heat Field and MRI Determinations of Necrotic Lesions, J of EndoUrology , Vol 19, Oct 2005 1 2 3
      • Designed for improved patient comfort
        • Increased Cooling & Flexibility
      • Ability to customize treatment
        • Multiple catheter Sizes & Power
      • Leverages 5 year durability data of CTC catheter
        • Microwave Antenna Design same as CTC
        • 90% freedom from 2 nd Intervention at 5 year s 1
        • Over 67% of patients free from any medication out to 5 years 1
      Urologix’ New Technology: CTC Advance™ 1 C. Roehrborn, L. Mynderse, A. Partin, G. Preminger, E. Cote, S. Madej: Results of a Multi-Center Trial of a New Generation Cooled TUMT for BPH, Abstract #2122, AUA 2009
    • Urologix Strategy
      • Leverage our clinical evidence, new technology, customer service and urologist-centric distribution to grow the business by:
        • Continuing to convert urologists using other minimally invasive therapies to Urologix’ Cooled ThermoTherapy™; and,
        • Expanding into the BPH drug market to increase patient access to a proven, more clinically effective treatment option.
    • BPH: Enlarged & Growing Problem
      • BPH is a major health problem and serious disease state driven by a rapidly aging population fueled by demographic trends
        • 2010 Total US Population > 65 = 40.2M
        • 2050 Est. US Population > 65 = 86.7M 1
      • Not only a symptomatic disease - BPH can lead to 2 :
        • Retention (sudden inability to urinate)
        • Urinary tract infections
        • Bladder stones
        • Incontinence
        • Damage to the bladder and/or kidneys (Chronic Kidney Disease)
      1 He W, Sengupta M, Velkoff VA, DeBarros, KA. 65 in the United States: 2005. Washington, DC: National Institute on Aging and US Census Bureau; 2005. 2 NIDDK:http://kidney.niddk.nih.gov/kudiseases/pubs/prostateenlargement/
      • Most frequently diagnosed urological problem in aging men
      • 8.7M American men currently diagnosed with BPH
      • 3M men are on chronic BPH medication
      • Urologists manage ~750,000 drug patients (25% 1 )
      • Urologix’ biggest competitor: BPH Drugs
      1 IMS Data query = % of Flomax and Avodart written by Urologists
    • 350k New Potential Procedures Annually ~9,000,000 men diagnosed with BPH ~3,000,000 men on BPH drugs CAGR 3% New Drug Patients Est ~540k/Yr Urologix Expanded Market Focus 1 st Line Treatment Moderate/Obstructed Patients (est. 66%) 300k Procedures Annually Mild Moderate Severe
    • What BPH Drug Ads Don’t Tell You
      • Side Effects Associated with BPH Medication
        • decreased libido, ED, disorientation, lethargy, low BP
      • Costs of Chronic BPH Medication
          • Average cost +$1,000 per year per patient
          • 3 year cost for a patient >5x their co-pay for Cooled ThermoTherapy
          • Combination Flomax & Avodart can cost $3,000/year 1
      • Risk of Continued Clinical Progression
        • Over 4 years 39% of men on Flomax experienced continued clinical disease progression 2 .
      • Risks in Failing to Address Obstructive Disease
        • Bladder Dysfunction, Kidney Damage
      ¹ www.drugstore.com accessed 12/2/09 2 European Urology 57 (2010) 123-131; 4 year results from the CombAT STudy
    • Urologix Solution
      • Urologix’ Cooled ThermoTherapy™ is:
        • Effective, Safe & Durable
        • Backed by stron g scientific evidence
      • Competitors, including drugs, are mar g inall y effective; they are largely palliative treatment:
        • Only slightly better than placebo
        • Minimal impact on the obstructive component of the disease
      • Urologix will grow by delivering to the urologist compelling patient benefits and clinical evidence.
      1 He W, Sengupta M, Velkoff VA, DeBarros, KA. 65 in the United States: 2005. Washington, DC: National Institute on Aging and US Census Bureau; 2005.
    • Urologix Competitive Technology View Efficacy/Durability vs. Invasiveness Invasiveness Effectiveness/Durability Placebo Urologix Drugs Laser TURP TURP TUNA Prolieve/ Thermatrx
    • Symptom Improvement: Drugs & CTT ¹Prolieve Summary of Safety and Effectiveness, P030006 ²Roehrborn, C., et al, The Effects of Combination Therapy with Dutasteride and Tamsulosin on Clinical Outcomes in Men with Symptomatic Benign Prostatic Hyperplasia: 4-Year Results for the CombAT Study, European Urology 57 (2010), p 123-131 ³Roehrborn, C., et al, 5 Year Results of a Multi-Center Trial of a New Generation Cooled TUMT for BPH, Abstract 2122, AUA 2009 Annual Convention Note: The data for Cooled ThermoTherapy and pharmaceuticals was not collected in a head-to-head study. Direct comparisons cannot be made.
    • Peak Urinary Flow Rates ¹Prolieve Summary of Safety and Effectiveness, P030006 ²Roehrborn, C., et al, The Effects of Combination Therapy with Dutasteride and Tamsulosin on Clinical Outcomes in Men with Symptomatic Benign Prostatic Hyperplasia: 4-Year Results for the CombAT Study, European Urology 57 (2010), p 123-131 ³Roehrborn, C., et al, 5 Year Results of a Multi-Center Trial of a New Generation Cooled TUMT for BPH, Abstract 2122, AUA 2009 Annual Convention Note: The data for Cooled ThermoTherapy and pharmaceuticals was not collected in a head-to-head study. Direct comparisons cannot be made.
    • Why not take all patients to surgery?
      • Surgery has Risks of Adverse Events (from AUA Guidelines)
        • TURP side effects
          • 2% Serious Cardiovascular Events
          • 2% Cardiovascular Thromboembolic Events
          • 8% Transfusions (3% with Laser Vaporization)
          • 6% Significant Hematuria (10% with Laser Vaporization)
      • Higher risk of Sexual Side Effects
      ¹ from AUA Guidelines 2 from CTC Indications For Use Sexual Side Effects TURP 1 Laser Vaporization 1 Urologix Cooled ThermoTherapy 2 Erectile Dysfunction 10% 7% <3% Retrograde Ejaculation 65% 42% 5%
    • 5 Year Visit Accountability C. Roehrborn, L. Mynderse, A. Partin, G. Preminger, E. Cote, S. Madej: Results of a Multi-Center Trial of a New Generation Cooled TUMT for BPH, Abstract #2122, AUA 2009
    • AUA Treatment Guidelines
      • AUA Guidelines for moderate to severe symptoms
      • (AUASS ≥8) :
        • Urologists should discuss treatment options with patients including TUMT
        • Does not recommend Drugs First
        • “ In the average patient, transurethral microwave heat treatment is more effective than medical therapy but less effective than surgery in relieving symptoms.”
    • Cooled ThermoTherapy™ Benefits
      • Patient
        • Durable, Proven Outcomes
        • Most patients can avoid chronic BPH Medication
          • Poor Efficacy, Side Effects & Costs
        • Less Invasive & Less Costly than Surgery
      • Physician
        • Well reimbursed in-office procedure
        • 30 min treatment time
      • Payor
        • Avoid Surgery Costs & Hospital Stay
        • Medication System Costs over $3B per Year
        • 90% Freedom from 2 nd BPH Procedure for 5 years
    • Comparable Minimally Invasive Models
      • Arthroscopic Knee Surgery
      • Laparoscopic Gall Bladder Surgery
      • 2009 -Acclarent Medical – Balloon Sinuplasty™
        • Large Market
        • Non-life threatening Condition
        • Surgeon Customer
        • Alternative to chronic meds or surgery
        • $785M Acquisition, 8x revenue multiple by J&J
      • Stryker Warren, Jr., Chief Executive Officer
        • Prior: CEO Urology Healthcare Group (dba CIMplify)
        • 35 Years experience in Healthcare Services
        • 10 Years experience in Urology practice management
        • 10 Years experience with Urologix’ Cooled ThermoTherapy™ from a customer’s perspective
      • Greg Fluet, EVP & Chief Operating Officer
      • Brian Smrdel, Chief Financial Officer
    • Fiscal Year 2009 First 9 Months FY2010 Revenue $12.8M $11.5M Gross Margin 50% 56% OpEx $10.9M $8.0M Net (Loss) $(4.4M) $(1.5M)
      • Continuing the focus on superior patient outcomes, customer service, quality science & technology.
      • “ Because results matter”,
      • ULGX is in strategic pursuit of a large addressable BPH market. Cooled ThermoTherapy™ is the logical choice based upon clinical results and value to be “the in-office Gold Standard” for the treatment of benign prostatic hyperplasia.
    • Stryker Warren, Jr. Chief Executive Officer 763.475.7605 [email_address] Brian Smrdel Chief Financial Officer 763.475.7696 [email_address] Contacts: Greg Fluet EVP & Chief Operating Officer 763.475.7690 [email_address]