IMERA.AI has developed an AI solution to analyze medical imaging like X-rays to address the shortage of radiologists. Their solution has received regulatory approval in the UK and they are working to expand to other markets. The business plan outlines their product, which can currently analyze musculoskeletal X-rays, as well as their roadmap to add new capabilities and regions over the next few years. It also details their management team, achievements, and strategy to engage customers and drive revenue.

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Sep 2023
Business Plan
Intelligent Medical Radiograph Analysis
Confidential – IMERA.AI Business Plan 1
19/12/23

2. Privacy ● Quality ● Control
IMERA.AI Medical Imaging X-Ray Solution
• IMERA Relook Musculoskeletal, MSK, Version 1 is MHRA registered as Class 1
device for GB market
• NHS AIDE integration on the way to be available for the NHS Trusts as a SaaS
• Reseller Agreement with a Cloud PACS company in India with a pilot project
for a large hospital
• Providing services to one of largest teleradiology company in India
• 20,000 MSK x-rays manually annotated to-date - High quality hierarchical
labelling
• Total data set of half a million X-rays
• Data collaborations with large institutes in India
Delivering AI Medical Imaging to Healthcare; X-Rays, CT and MRI Scans
IMERA.AI has developed a revolutionary AI X-Ray solution coupled with imaging technology to solve the
growing shortage of radiologists plaguing the global healthcare system – 1,610 extra consultants needed
by 2022 in the UK alone. ONLY complete and comprehensive MSK AI X-Ray Solution in the market
Executive Summary
$24M
5-YEAR REVENUE
PROJECTION
India & International Markets
$500K
INITIAL INVESTMENT
Worldwide
OECD
market
Initial Target
Market
£1.5
Billion
£300
Million
£29
Million
Market Size
19/12/23
Funding Round One: expand Chest
Pathology: Pneumonia and
Tuberculous
Round Two: $1.5M expand capability
and secure regulatory approvals for
CE, FDA and TGA

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▪ “If this level of cost saving could be achieved nationally through the implementation of immediate reporting then, assuming approximately 5
million MSK trauma patients are referred for radiography each year in England,24,25 the total savings to the NHS in England would be
£117million. For a typical NHS hospital Trust with 20,000 ED MSK radiography referrals per annum, the annual savings from implementing
immediate reporting would be £468,000”.
http://dx.doi.org/10.1016/j.radi.2012.11.02
▪ Research indicates that nine in 10 hospital patients will require radiography, yet the UK is facing a shortage of numbers in this vital
profession with more than half of radiology leaders saying they need more diagnostic radiographers to keep patients safe – July 20, 2021
▪ In 2020, estimated expenditure totalled £206 million: more than double the cost five years ago.
Clinical radiology UK workforce census 2020 report (rcr.ac.uk)
▪ “Refreshed roadmaps need to include specific plans setting out how pathology and imaging networks and CDCs will with their systems
support artificial intelligence (AI) research and innovation, and the scalable and sustainable integration of AI-driven diagnostics. The
implementation of digital diagnostic investments is expected to deliver at least a 10% improvement in productivity by 2024/25, in line with the
best early adopters.”
2022/23 priorities and operational planning guidance Version 2: updated 14 January 2022
▪ There is understandable resistance to medical AI from some quarters of the medical profession. Geoffrey Hinton, a pioneer in neural networks,
has described radiologists as like Wile E. Coyote ‘They are already over the edge of the cliff, but they haven’t yet looked down yet. There’s no
ground underneath. It’s just completely obvious that in five years deep learning is going to do better than radiologists.’ Hinton said that in
2016 and in 2022, plentiful scientific literature has already emerged demonstrating how machine learning systems outperform human
experts in a range of medical fields, including many areas of radiology
How medical AI promotes the democratization of health care - AI Business
The Case for AI Medical Imaging
1.5B
Bone & Joint X-rays taken
every year globally
97%
Radiology departments in
the NHS are unable to meet
reporting requirements
Extra consultants needed
by 2022 in the UK alone
1610
19/12/23 Confidential – IMERA.AI Business Plan
Challenges for the NHS & Healthcare
AI and Deep Learning is the Future
3
Technology is the only way in which to improve the underfunded healthcare systems around the world
One Radiologist per 100K population in India

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IMERA.AI Solution
How the IMERA.AI imaging solution integrates within current Healthcare process
Report of Pelvis Radiograph:
AP pelvis radiograph, demonstrating a right hip DHS fixation
(98%). There is a possible left superior pubic ramus fracture
(72%). Pelvic (89%)and left ischial tuberosity calcifications
(91%) noted. There is lower lumbar spondylosis (96%).
Patient‘s X-ray IMERA analysis IMERA NLG IMERA report
Recommendations:
Urgent referral to
orthopaedic team or other
clinical pathways
19/12/23 Confidential – IMERA.AI Business Plan 4

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AI Solutions in X-Ray
IMERA.AI’s positioning with leading AI X-Ray competitors
MRI & CT Scan
Valuations £2.45M* $60M $1.3M $10.5M $30M $3M $9.2M Exit: $200M
Findings
All MSK
Abnormalities
Fractures Fractures Fractures
Fractures
Dislocation
Knee arthritis &
Hip Fracture
Emergency
X-Rays
Osteoporotic
Fractures
Fractures,
Dislocation,
Lesions (bony and soft tissue),
Arthritis
Implants, splints
✔✔✔✔
✔✔✔
✔ ✔ ✔ ✔✔ ✔✔ ✔✔ (✔)
Comprehensive
Radiologist-alike reports ✔ - - - - - ✔ -
High quality manually vetted
labelling ✔ - - - - - - -
19/12/23 Confidential – IMERA.AI Business Plan
*Valuation does not include the value of the IP and the annotated x-rays with an estimated value of $1M
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Product Roadmap
Current Body Parts
• Shoulder
• Humerus
• Elbow
• Forearm
• Wrist/Hand
• Pelvis & Hip
• Femur
• Knee
• Lower leg
• Ankle & Foot
19/12/23 Confidential – IMERA.AI Business Plan
Body Part Roadmap
• Chest Fractures and
Pathology
• Facial bones
• Spine
• Skull
• Dental
Cross Modality
Expansion:
• MRI Scans
• CT Scans
Targeting AI Medical Imaging across all modalities, including x-rays, MRI and CT scans
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IN
Currently in negotiations with NEOS Healthtech one of the
largest service provider to provide a SaaS model using
IMERA.AI advanced Multi Skeleton Version
UK
IMERA.AI Head Office
MHRA Submission for “Class 1” – awaiting approval
In discussions with Wellbeing who currently are one of
the main PACS integration partners for the NHS
DE
Commencing CE approval for EU medical regulatory
approval, whilst developing sales pipeline for both B2B
and B2C markets
US
In discussions with medical professionals to establish FDA
approval and market/sales activities
AU
Currently investigating the market opportunities and
regulatory requirements and third-party integration
US
6,146 Hospitals
150M X-rays/year
91M CT Scans/year
40M MRI Scans/year
UK
450 Hospitals
15M X-rays per year
DE
3,026 Hospitals
80M X-rays/year
11.9 M CT Scans/year
6.6 M MRI Scans/year
AU
1,339 Hospitals
6M X-rays per year
UK
450 Hospitals
15M X-rays/year
5.8M CT Scans/year
3.7M MRI Scans/year
Target markets identified to launch the IMERA AI Medical Imaging solution
Markets
CA
1,200 Hospitals
5.4M X-rays per year
Markets Under Consideration
IN
43,487 Hospitals
150M X-rays per year
Teleradiologists,
5,000 – 10,000 x-rays/day
Medical Product Roadmap
Musculoskeletal
Teleradiologist
IN, SA, AE,...
Relook
Class 1
UK
1 2
Chest
X-Rays
• Fractures
• Pathology
3 Spine
X-rays
4 5 Dental
19/12/23 Confidential – IMERA.AI Business Plan 7

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GTM Strategy
Customer segmentation price lists across economic geographies
19/12/23 Confidential – IMERA.AI Business Plan
Customer Segmentation & Service Offering
Products/
Solution
Healthcare Providers
Teleradiologists
Imaging
Equipment
Manufacturers
Price Strategy
Public Private
MSK X-Ray ✔ ✔ ✔ ✔
Price per x-ray with volume
discounts per month per market
segment
Consulting Services ✔ ✔ ✔ ✔ Initial Configuration,
Implementation, & Customisation
Subscription
Licencing ✔ ✔ ✔ ✔ Set price per month based on
estimated volumes
Reporting ✔ ✔ ✔
Additional services will be
provided to design, configure and
operate
Prices vary across geographies, both “Market” and “Cost Plus” pricing models will be applied accordingly
to market conditions. For “Cost Plus” a minimum GM percentage will be maintained directly related to
volume of x-rays per month.
Customer Segmentation Solutions
Healthcare Providers
• Includes hospitals both private and government, and
medical clinics
• Each hospital or group of hospitals will be independent
with a separate technical supporting infrastructure
• Integration to PACS either directly or through third-party
Teleradiologists
• Services and integration will be direct with teleradiologist
companies with no third-party interfaces
Imaging Equipment Manufacturers
• Only complete MSK solution
• Subscription based licencing based on number of images
processed
Non-Medical Applications
• B-spoke solution based on design, configuration and
implementation with a licencing agreement model and/or
per image processing price
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Existing leads and new business development leads
Customer Sales and Business Development Pipeline
• NEOS – reseller agreement in place for India, Europe, and the Middle
East with five hospitals in the sales pipeline one of which a pilot project
has been agreed
• Deeptek – exploring options to include the IMERA.AI solution within
Deeptek’s solution along with introduction to the Singapore market
• India Hospitals – currently in discussions with hospitals as a result of
attending the Big Tech Conference in Bangalore following up on several
leads
• AIDE NHS – create awareness within the NHS network to raise
awareness and promote the IMERA solution where medical
professionals can trial the application
• UK Hospitals – working with medical colleagues within the NHS to
advocate for the IMERA solution within their NHS trust,
• Medical Devices – initial discussions have resulted in progressing to the
next stage with presentation to global executives
• Teleradiology Companies – development of a SaaS product offering for the
teleradiologist companies on a global scale inc
• EU/Germany – carry out CE submission for EU approval and promote the
IMERA solution within the DACH countries starting with the German
Healthcare industry
• US – through existing medical professional contacts initiating plans to apply
for FDA approval
• WHO – looking to initiate discussions with the WHO to make the IMERA
solution available to African and other potential emerging economies
• Radiology Training – developing an AI training platform for Junior Doctors
Advanced commercial discussions New opportunities
19/12/23 Confidential – IMERA.AI Business Plan 9

10. Privacy ● Quality ● Control
Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
Feb Mar Nov Dec
Sales & Marketing
• Develop Digital Capabilities, i.e. customer support
• Develop brand awareness
• Customer Engagement
• CRM/eCommerce
Apr May Jul
Jun
ReLook.AI
Operations
Aug Sep Oct
Jan
MSK -
Diagnosis
Feb Mar
Jan Apr Aug Oct
Sep Nov
Q2/25 Q3/25
Health Care
NHS
Soft Launch of Relook
Chest X-Rays (Fractures followed by Pathology)
MHRA Class 2 Registration
New Product Launch
Setup operations in the DE
Health Care
• Hospitals,
Teleradiologists
• Third Party
Partnerships
Spine X-rays
Expand UK
Expand Team
India and UK New Product Development
Deeptek, Neos
India/Singapore
Commercial Agreement
CE, FDA, TGA Approval Processes
(DE, US, AU)
Commercial
Business Roadmap
19/12/23 Confidential – IMERA.AI Business Plan
Regulatory
Pilots
UK & India
Expand Sales in UK, India, and Middle East
10
Currently being developed

11. Privacy ● Quality ● Control
Harmonising Expertise, Data, and Operations for Health
Management Team
CEO, Co-founder
Orthopaedic Surgeon
Krishna is a Consultant Orthopaedic
Surgeon at King’s College Hospital
NHS Trust, specialising in complex hip
arthroplasty.
He obtained extensive clinical and
research experience from King’s
College Hospital, Imperial College,
HMR, Montreal and PGIMER. His
current research interest is in the
application of deep learning
algorithms in Trauma and
Orthopaedics and developing
customised algorithms for medical
imaging.
Krishna Boddu
COO
Business Advisor
Toby Tarczy is and C-Level interim
manager who brings a wealth of
knowledge and expertise on
business growth strategies,
performance improvement and
operational turnaround, primarily
for large multi-nationals. Prior to
this Toby worked at Accenture and
has completed the Executive
Online Digital Platform Strategy
degree from MIT.
Toby Tarczy
CTO, Co-founder
AI scientist & DL researcher
CMO, Co-founder
Musculoskeletal Radiologist
Martin is a Consultant Musculoskeletal
Radiologist at St George’s Hospital in
London.
His research experience includes an MD
in molecular genetics from the University
of Duisburg-Essen. His current interest is
in the vertical development of deep
learning applications in radiology as well
as the integration of AI application into
radiology workflow. He as extensive
experience with PACS system and medical
imaging processing.
Martin Siebachmeyer
Operations, Co-founder
Orthopaedic Surgeon
Sandesh works as Spine Surgeon at the
Royal Derby Hospital.
He has a deeper understanding of the
current challenges in healthcare delivery
and a keen interest in providing
innovative digital health technology
solutions. He obtained extensive
academic and clinical expertise working
across tertiary referral NHS hospitals and
academic centres in the UK.
He has created AI research collaborations
with large health institutions in India and
in Africa.
Sandesh Lakkol
Jalaj Jain
Jalaj Jain, is an applied researcher, in Machine
Vision and video processing. His research
interests span a range of avenues in computer
Vision i.e. 3D image vision, planning &
navigation in autonomous driving
face recognition, and object tracking and
Generative networks. His industry experience
includes, Head of Deep learning and computer
vision at Excession Technology, UK based
defence start-up, working with Sanyo Digital
signal processing research lab, Kumagaya Japan
& Bangalore, India and Samsung visual display
technology research and development group ,
Suwon , South Korea.
19/12/23 Confidential – IMERA.AI Business Plan 11

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Achievements
Achievements & current and past affiliations
Current and past affiliations
19/12/23 Confidential – IMERA.AI Business Plan
NVIDIA INCEPTION
ACCELERATOR
WINNER GIANT HEALTH EVENT
2019 BEST EARLY STAGE START
UP
AWS ACTIVATE
PROGRAMME
IMERA Featured in
keynote speech, Vice
President of Healthcare
NVIDIA
MEMBERS AZURE
STARTUP
PROGRAMME
MEMBER OF GOOGLE
AI STARTUP
PROGRAMME
12
MHRA REGISTERED AS
CLASS 1 DEVICE

13. Privacy ● Quality ● Control
Please contact
Toby Tarczy
toby.tarczy@IMERA.ai
+44 7799133349
www.IMERA.ai
19/12/23 Confidential – IMERA.AI Business Plan 13