Presentation of 1H 2021 Results - 27 September 2021 Steven Goh, CEO Robert Rieder, CFO - Achiko
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Presentation of 1H 2021 Results 27 September 2021 Steven Goh, CEO Robert Rieder, CFO ir@achiko.com www.achiko.com
Important Notice & Disclaimer “Forward Looking Statements” Disclaimer
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‘Company’ in connection with meetings with private and institutional business and financial performance and future events or
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business strategy and results and could cause the actual results,
performance or achievements of the Company to be materially
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may be expressed or implied by such forward-looking statements or
anticipated on the basis of historical trends. Due to rounding,
numbers presented throughout this and other documents may not
add up precisely to the totals provided and percentages may not
precisely reflect the absolute figures. The documents provided in this
presentation include supplemental financial measures that are or
may be non-GAAP financial measures.
Highlights
• Covid-19 will become endemic and two critical pillars for a new
Corporate Data
normal life are vaccines and testing Last 12 months as of 24 September 2021
• Our vision is to provide an assurance platform with unique
testing and certification to hundreds of millions of people with
a test at a cost less a simple lunch that can be done daily (for
mass or vertical markets)
• Achiko AG has exclusive commercialisation rights to
AptameXTM, a non-invasive, saliva based diagnostic test for the
detection of Covid-19 that upon commercialisation may
outperform other rapid tests in price, speed, availability and
accuracy
CODE: ACHI:SWX (SIX Swiss Exchange)
• Test results are available on Teman SehatTM (“Health Buddy”), a ISIN: CH0522213468
mobile app with a digital passporting service that contains test
results, vaccine certificates, etc. and can be used at public • 117,109,092 shares
places to provide assurance • 19,049,725 options
• Commercialisation expected in Q3 2021 first in Indonesia, and
Shareholders >3% (38.74%)
later obtaining a European CE mark. Production will be done
• 12.55% Heracles Investment Group Ltd
in Taiwan and Indonesia
(Founder/CEO/Director)
• 9.18% Swiss VC fund (strategic investor)
• Signed a JV in Indonesia (country of 270m people) to produce
• 9.18% PT Media Nusantra Citra TBK
and market testing and certificates. 50:50 profit share and
(largest media company in SEA)
additionally a 10% license fee. Securing 2% of the population by
• 4.76% Neural Networks Limited
later this year at 3-5 tests per person per month may mean 15-
(Co-Founder)
25m tests per month at a few $ per test
• 3.06% Monecor (London) Limited
• Currently looking to expand to other countries
Board of Directors Advisory Board
STEVEN GOH CAROL AEBI GLENN CROSS
ALLEN WU CHRIS LAURENT •A 40-year global life sciences
Director/Chief • Experienced in in
Chairman of the Board Director veteran and former CEO/COO
Executive Officer technology, consulting
• Experience in international and financial industries of Ausbiotech for 13 years
Serial entrepreneur • Serial Entrepreneur
business across international • Consults and advises
• Sectors including media, • Founded Australia’s first online
• Enterprise sales organisations including government organisations,
FinTech and investments stockbroking company, managed / co-
• Strategic and operational AdNovum Informatik AG, regions and companies
across Asia and Africa managed over 120 IPOs, Co-founded
marketing management UBS AG, Zurich Financial throughout the biotech sector
one of the world’s first social networks,
• Corporate fundraising Services and Novartis on the commercialisation of
• Consulted to media, tech and finance,
science, including business
• Advised dozens of incubators and
development and capital
hundreds of startups,
raising
• Appeared in CNN, WSJ, Bloomberg,
Economist and many others.
Executive Team
DR. MORRIS BERRIE ROBERT RIEDER DR. MICHAEL EDEL PAUL FIELD CHARLES PAN
President Chief Financial Officer Inventor AptameX • A 30-year biotech veteran •Over 25 years’ experience in
• Over 20 years of scientific, • Over 20 years experience • Co-founder and director of specialising in in-vitro investment M&A, strategic
business and financial experience with start-ups and high Regenacellx, specialising in diagnostics for infectious partnership, startup management
in the biotechnology and growth companies Regenerative Medicine diseases and ecosystem development for
healthcare industries including several in biotech • Developing a DNA aptamer- • Australian representative for East Asia and Silicon Valley
• Consults and advises and medtech based technology in Geneva-based Global • Currently Chief Investment
government organisations, • Expertise in building response to Covid-19 Antibiotic R&D partnership Officer for Eastern Media Group
regions and companies finance teams, fundraising • Served as a visiting (GARDP), member of the and strategic advisor to Sigknow
throughout the biotech sector on and leading business academic at Harvard (2000), Investment Committee at Biomedical, both in Taiwan
the commercialisation of science, operations within the U.S, VCRRI Sydney (2012) Horizon 3 Biotech Fund, and
including business development Europe and Asia. and Oxford University (2018- strategic advisor to Alsonex,
and capital raising 2019) Marinova and other
Australian biotech companies
Where our people are today …
The Problem
It’s Covid-19
Global need for Solutions: Safe, Simple, Available
Proactive Approach Reactive Approach
• Vaccinations for ages 12+; boosters as • Low vaccination rates for ages 12+
necessary • Loose regulations on masks and social
• Maintain masks, social distancing and distancing
hand hygiene as necessary • Hospitals start to become full
• Businesses and schools remain open • Post-symptomatic mass testing done
• Frequent mass testing on a weekly after large-scale outbreaks
basis • No management of testing or
• Health passports issued with vaccination vaccinations
records stored
Results Results
• Testing is affordable • Testing is expensive
• Limits impact on economies • Lockdowns – job loss and business and
• People with positive test results know to school closures
isolate and stay home • Severe financial impact on economies
• People retain freedom within a new • People lose freedom
normal • Negative impact on mental health
1. Covid-19 Testing is tricky…..
• Average viral load is detectable by a PCR
test at a CT score of around 28
• Peak infectiousness is up to 7 days before
symptoms appear. Therefore, there are
limited options for testing post-
symptomatic other than expensive and
non-scalable contact tracing
• Most Covid-19 tests are too expensive for
the level of testing needed for mass
testing as a prophylactic
Relationship between culture positivity and time between symptom onset and sample collection, SARS-CoV-2, England,
January–May 2020 (n = 246). Ref: “Duration of infectiousness and correlation with RT-PCR cycle threshold values in cases of
COVID-19, England, January to May 2020”, Singanayagam Anika, Patel Monika, Charlett Andre, Lopez Bernal Jamie, Saliba
Vanessa, Ellis Joanna, Ladhani Shamez, Zambon Maria, Gopal Robin. Duration of infectiousness and correlation with RT-PCR
cycle threshold values in cases of COVID-19, England, January to May 2020. Euro Surveill. 2020;25(32):pii=2001483.
https://doi.org/10.2807/1560-7917.ES.2020.25.32.2001483
2. Nearly all current rapid tests struggle with sensitivity…
• Many rapid tests are insensitive at viral loads detectable at a
PCR test with a CT score above 25
• This is problematic as the typical infectious at a viral load
detectable by a PCR test at a CT score of 28-29 (see
Eurosurveillance reporting)
• Explains why rapid tests remain contentious when compared
against PCR tests, which may be far more sensitive (but
expensive, slow, etc.)
“Evaluation of rapid antigen detection kit from the WHO Emergency
Use List for detecting SARS-CoV-2” by Gannon C.K.MakStephen
S.Y.LauKitty K.Y.WongNancy L.S.ChowC.S.LauEdman T.K.LamRickjason
C.W.ChanDominic N.C.Tsang, Journal of Clinical Virology, Vol 134, Jan
2021, 104712
“Analytical sensitivity and clinical sensitivity of the three rapid antigen detection kits for detection of SARS-CoV-2 virus”, Gannon
CKMakStephen SYLauKitty KYWongNancy LSChowCSLauEdman TKLamRickjason CWChanDominic NCTsang, Journal of Clinical
Virology, Vol 133, Dec 2020, 1046843. And current testing tech is not practical at scale
• PCR tests whilst accurate are slow
and expensive, and may find a case
well after the fact, thus requiring
expensive contact tracing PCR
Accuracy
• Rapid tests are faster but aren’t
sensitive enough to catch infectious
Covid-19 victims
Rapid
Tests
• And both tests are still too expensive
to be performed daily by the mass
market Speed
Price
Price of a cup of coffee
Availability4. What is needed is a revolution
PCR
?
Accuracy
Rapid
Tests
Speed
Price
Price of a cup of coffee
Availability
Testing has to be as fast as a rapid test, nearly as sensitive as a PCR test (at least to
catch the average viral load / CT score of 28), and has to be as cheap and
convenient as a simple lunchOur Solution
Achiko – real Covid-19 solutions
Developing tools that address critical needs in fighting Covid-19
… with broader applications in telehealth infrastructure
APTAMEX TEMAN SEHAT
Aptamer based diagnostics test (“Health Buddy”)
• Simple supply chain – avoids • Integrated • The Covid-19 testing,
the supply problems from passport and access app
diagnostic, passport • Privacy
reagent shortages
• Successful lab tests and coupon system • Coupon feature supports
completed in Spain • Complements loyalty and encourages
• Clinical validation testing by vaccination participation
independent firms • Being rolled out in two
campaigns Indonesian cities
• Key part of getting • ~250,000 users since
life back to normal launch in July 2020Advantages of AptameX
• Use of saliva sample specimen
• Non-invasive
• Easy-to-use and convenient
• Better test accuracy at low viral loads
• Inherently accurate
• Selective binding to the SARS-CoV-2
spike protein
• As fast as any LF test; test completed
within 15 minutes
• Cost-effective / affordable
• Unlike RT-PCR, AptameX enables
frequent mass testing to control the
pandemicHow it works
(the CHEMISTRY)
• DNA aptamers are conjugated to
gold nanoparticles
• Upon binding between the S1
virus protein and the aptamer,
gold nanoparticles are released
• When gold nanoparticles are
released, they aggregate causing
a color change in the solution
• Colorimetric assay: reader detects
the color change
Aggregation • Software developed to analyze
color change (shift in spectra) and
designates positive or negative
results.
References :
• https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2291729/ Nucleic Acid Aptamers for Target Validation and
Therapeutic Applications
• https://www.bmj.com/content/bmj/370/bmj.m2516.full.pdf Diagnostic accuracy of serological tests for covid-19:
systematic review and meta-analysisSummary
• The sensitivity of many lateral flow (LF) antigen-based rapid diagnostic tests available in the market
is comparable with RT-PCR at high viral loads (mean CT value 25)
• AptameX’s sensitivity is improved with breakthrough chemistry using DNA apatmer technology as
opposed to Enzymes / Antigens.
• AptameX’s sensitivity at CT value of 28.3 is 77.59%, considerably higher than other LF rapid tests
• AptameX clearly fulfils a gap, representing a paradigm shift in Covid-19 testing
• RT-PCR has high accuracy, yet it is impractical for frequent mass testing; AptameX fills this
requirement.
AptameX testing SENSITIVITY SPECIFICITY CT value
Barcelona, Spain 91% 85% 26
Pekanbaru, Indonesia* 77.59% 64.12% 28.3
* determined from PCR positive data at CT < 32Teman Sehat
Ecosystem: creating safe places to work and play
User
Health and
Vaccination Passport access
Passports Coupons
Tester PlacesTeman Sehat (TS) – Public Assurance Platform
Model pays for testing / vaccination and contributions to public safety
Health Consumers Venues
TS in the Cloud TS in the Cloud
Clinics
Appointments, Coupons, Health
payments and and vaccine
Health passports and QR
passports codes
Apps Tester User Places
Benefits - Test Certificate - Easy way to book and pay for - Ecosystem attracts
becomes valuable. Covid-19 tests customers and
- Safe, simple - Test Becomes Valuable provides a safe
appointment - Cost of the Test may be born by environment
process usage, subsidised by places, or - Cost-efficient
- Seamless payments be paid for by a sale (i.e., in advertising (Places
coupons) bring traffic back
- Wallet structure means that through realised
many tests, vaccine certificates, business i.e. in
etc can be included coupons)
- TS generates a fee for
Business - Helping communities - TS earns small fee for each User check-in to a
model get back to normal each Covid-19 test and Place
thereby vaccine - Value of returned traffic
strengthening social - TS ecosystem builds User paid for by realised sales
licence engagement and loyalty (i.e. in coupons)Teman Sehat Since June 2020 launch in Indonesia • Now has ~250,000 users • ~1,400 coupons redeemed • ~800 locations • Pay for testing • ~13,000 coupons offered • Integrated with AptameX
Business Model: Making it Work
APTAMEX TEMAN SEHAT
Complements
vaccination
campaigns
Integrated
diagnostic,
passport and
coupon system
Key part of the • AptameX model is local partnership for • Teman Sehat re-engineers the business
new normal approvals and assembly for mass scale and process going to the total cost at Point of
distribution, control and sale of the IP, and Need and transforms it to a mass market
supply of Active Compound from 2 -3 model
controlled locations.How this comes together….
Total Cost at Point of Need
$12.00
$10.00
$8.00
$6.00
$4.00
$2.00
$-
Rapid Test AptameX + TS
Cost of Test Kit (USD) Distribution and Service DeliveryPeople and Finance
Administrative Expenses 2021 vs 2020
3,500,000
3,000,000 3,188,451
2,500,000
2,000,000
1,500,000
1,271,522
1,000,000
1,044,143
924,954
849,870
500,000 632,729
281,773 0 268,830 87,285 235,440 229,495
0
Salaries and Wages Employee stock Professional fees Quality Director's Other expenses
option expense management remuneration
HY 2021 HY 2020Operating Expenses by Group Company
4,000,000
3,783,776
3,500,000
3,000,000
2,500,000
2,364,601
2,000,000
1,500,000
1,000,000
756,000 785,067
500,000
355,000 0 10,000 108,518
0
Achiko AG PTPI Achiko Taiwan Other
Estimate is Q4 2021 + Q1 2022 for comparison, as impactQ1+Q2
Q4 21+Q1 22 (estimate) of new cost structure will be starting Q4
2021
2021Shareholder Value & the Future
The Immediate Future... • APTAMEX SALES & MARKETING IN INDONESIA • EUROPEAN CE MARK APROVAL • SECURE OTHER DIAGNOSTICS: VARIANTS, OTHER PATHOGENS, ETC • EXPAND MARKET FOOTPRINT TO OTHER COUNTRIES
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