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Aqua March 2012 Corporate
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Aqua March 2012 Corporate



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  • 1. Aqua Pharmaceuticals, LLC
  • 2. Company Overview Specialty dermatology pharmaceutical company currently focusing on acquiring, developing and marketing prescription medical dermatology products Privatelyheld; Founded in 2004 Focus on under or non-promoted, branded dermatology drugs in US Market Stable and growing base business with high margins and strong cash flows Commercial infrastructure with track record of success Sales coverage in all major, high-value targets in US (80% of +13,000 writers) Comprehensive Management Team with two sales forces +RoundTable made a controlling investment in June 2010 2
  • 3. RoundTable Overview Operating-oriented investment approach 200+ years of expertise in medical product/devices, pharmaceuticals, and distribution Equity partnerships with management teams Particular focus on private, family companies and owner/founders $1.9 billion in private equity buyout funds  Fund I - $400 million private equity buyout fund raised in March 2002  Fund II - $500 million private equity buyout fund raised in March 2005  Capital Fund - $200 million subordinated debt investment fund raised in July 2006  Fund III - $600 million private equity buyout fund raised in July 2010  Capital Fund II - $200 million subordinated debt investment fund raised in July 2010
  • 4. RoundTable Portfolio Companies AMI Holdings, Inc. MEDASSIST Incision & Healing Technologies Ascent Sabex AMIH MedAssist Argon Excelsior Clinical Investment Date Sep-01 Apr-02 Apr-03 May-03 / Nov-04 Dec-03 Jun-04 Apr-05 Business reprocessor of injectable medical devices eligibility and vascular devices drug delivery OB/GYN devices medical devices generic pharma and products A/R services products Private or Public Owner Private Private Private Private Private Private Private Founder/CEO Founder/CEO Family Founder/CEO Founders Founder/CEO Founders RoundTable Initial Ownership 70%(a) 80% 65% 70% 87% 80% 87% Rollover Retained Ownership 30% 20% 35% 30% 13% 20% 13% Exit Return 8.3x 8.2x 7.2x 4.8x -- -- -- Avalign CorePharma Bioniche Aspen Vesta Aqua BVI Investment Date Oct-05 / Jan-07 / Aug-05 Jan-06 / May-06 / Sep-06 / Jul-10 Aug-07 / Mar-09 Jun-10 Jul-10 Aug-07 / Apr-09 Dec-06 / May-07 Business surg. instruments solid dose injectable surgical medical specialty ophthalmic medical and implants, generic pharma generic pharma products devices dermatology devices case / tray systems Private or Public Owner Private Private Public Sub. Private Private Private Public Sub. Founder/Family Founders Public Co. & VC Founder/CEO Founder/CEO Founder/CEO Public Co. RoundTable Initial Ownership 65% 80% 72%(b) 80% 80% 83% 91% Rollover Retained Ownership 35% 20% 28% 20% 20% 17% 9% Exit Return -- -- -- -- -- -- -- (a) RoundTables current ownership is approximately 31% due to the merger with Alliance Medical Corp (b) RoundTables current ownership is approximately 83% due to the purchase of BLSIs 10% ownership stake
  • 5. Strength in Aqua Management Jay Gooding, Co-Founder, Chief Executive Officer  Ted W. White, Vice-President, Sales  Nearly 30 years in Dermatology  +20 Years in Sales & Marketing Leadership  Stiefel Laboratories – Sales, Training & Management  Novartis – Managing Director – Primary Care, US Group Practice,  Healthpoint – Manager of Marketing & Product Development Cardiovascular  Bioglan – Vice President of Marketing & Managed Care, Officer  Skip Williams, Vice-President, Product Development Craig Ballaron, Co-Founder, President, Treasurer and Secretary  +20 Years in Specialty Pharmaceuticals  Nearly 30 years in Senior Management  Ultra Precision – President  Watson Pharmaceuticals – Business Development – Nephrology, Dermatology, Biologics  Bioglan - Senior Vice President, Sales & Finance / CFO  Accenture, System Software Associates, and Lexis-Nexis David H. Crean, Ph.D., Vice-President, Corporate Development  Kimberley Forbes-McKean, Ph.D., Vice-President, Research &  +20 Years in Specialty Pharmaceuticals Development  Allergan, Inc. – Business Development for Dermatology, Neurology and  +20 Years in Specialty Pharmaceuticals Ophthalmology  Allergan, Inc. – Project and Portfolio Management, Research & Development  Dermik / Sanofi-Aventis- Global Development  Cutanea Life Sciences and Isolagen, Inc.- CSO/ CTO, Development 5
  • 6. Fragmented U.S. market with increased consolidation in 2011 $1,200,000 IMS 2011 Net Sales by Manufacturer >$50MM $1,000,000 $800,000Net Sales $000, All MDs $600,000 $400,000 $200,000 $0 2011 IMS Health All Topical, Tetracycline Antibiotics , Isotretinoins 6
  • 7. Current Commercial MarketsAqua has leading branded prescription drugs in four therapeutic categories includingacne, steroid-responsive dermatoses, seborrheic dermatitis and actinic keratosis Acne market represents largest segment of overall dermatology market • Sales of prescription and over-the-counter acne medications generate approximately $5 billion annually • 15-20% of all consultations in dermatology related to acne Topical corticosteroid market is estimated at $500+ million • Indications include atopic dermatitis, contact dermatitis and psoriasis Seborrheic dermatitis market • Affects 1-3% of the immunocompetent adults • 1.3MM uses in 2010 (OTC, Rx) AK market (actinic keratoses) pre-cancer skin condition: estimated 10 million people affected in the U.S. • Estimated that 10% of AK advances to a cancerous state • Favorable market dynamics with aging population 7
  • 8. Recent New Product AdditionJanuary 9, 2012West Chester-based Aqua Pharmaceuticals,LLC today announced the acquisition ofFLUOROPLEX® (fluorouracil) 1% TopicalCream from Allergan, Inc.FLUOROPLEX® is a topical cream indicated for the treatment of multiple actinic (solar) keratoses (small red or skincolor growths) that appear as a result of overexposure to the sun. Aqua will assume control of all manufacturing anddistribution, as well as promotion of the product through its own national dermatology focused sales force.“Since early 2009, we have co-promoted the product with our partner, Allergan. We% are even more excited to havefull rights to FLUOROPLEX® in our product line”, said Jay Gooding, CEO for Aqua. The prescription productcomplements the existing line of CORDRAN® (flurandrenolide) topical steroids, MONODOX® (doxycyclineMonohydrate capsules) oral antibiotics, and XOLOGEL® (ketoconazole USP) Gel, 2%. AQUA PHARMACEUTICALS, LLC 8
  • 9. Revenue Generating Products Product Active Market Monodox Doxycycline, Acne Oral Flurandrenolide, Steroid-responsive Cordran topical Dermatoses Xolegel Ketoconazole, Seborrheic topical dermatitis Fluoroplex 5-Fluorouracil, Actinic topical Keratoses 9
  • 10. Corporate Growth Strategy Value creation is fueled through Four-Part approach  Maximize Current Product Growth and Profit Existing New  Facilitate long term Brands Products growth through R&D Pipeline and Product Development  Strategic Collaborations Partnerships Acquisitions  Acquire Companies and new products to expand product mix and core competencies 10
  • 11. Business Development InitiativesAqua is looking for assets to add to its existing portfolio Dermatology assets for North America (US &  Revenue-producing marketed assets Canada)  Therapeutic, Aesthetic, Physician  Late stage (Phase II and beyond) Dispensed, OTC development stage assets for longer term growth No DESI products, No Novel NCE’s  Assets with patents or market/ regulatory drug 505(b)(2)  higher probability projects exclusivity  Open to Corporate M&A to add greater Avoid capital equipment or “box plug-in” capabilities technology Brands, not generics (unless unique opportunity exists) 11
  • 12. Dermatological Areas of Interest  Acne  Oral  Topical  Rosacea  Steroid Responsive Dermatoses  Psoriasis  Fungal Infections / seborrheic dermatitis  Actinic Keratoses / Precancerous conditions AQUA PHARMACEUTICALS 12
  • 13. Positioned for Future Growth• Experienced team• Growing capabilities• Discipline and focus• Well known, stable brands• Sales and Marketing footprint• Relationships with physicians and partners• Financial investments
  • 14. Aqua Pharmaceuticals, LLC