September 2014Tel Aviv - Israel

Executive Summary

• APX Ophthalmology Ltd was established in 2011 by Prof. Ehud Assia, Elie Eliachar, Nir Lilach and Mor Research Applications to develop and commercialize a Novel Iris Retractor for Small and Constricted Pupils, mainly for the cataract market.

• The Company has developed two versions of the APX device:• APX 100 – a Stainless Steel device – Over 100 cases preformed

successfully in the USA & Israel. (Production halted - Replaced by APX200)

• APX 200 – a Plastic disposable set – To be Commercially available by the end of 2014

• The Company seeks to raise 600,000$ - required to fund its expenses till the production initiation and sales launch.

• First Revenues expected in 2015

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Contents

• APX Ophthalmology

• Cataract Surgeries (According to WHO)

• The Market

• Small or Constricted Pupil (The Clinical Need)

• The APX Solution

• Competition Comparison

• Post Marketing Evaluation

• Intellectual Property

• Go to Market Strategy

• Potential Global Partners

• Licensee/Acquirer Value Proposition

• Deals in the Field

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APX Ophthalmology Ltd. - Our Company

Ehud Assia, MD Eliahu Eliachar, BSc.

Ilanit Frank Hakim

CMO& Co-Founder

Head of Ophthalmology dept., Meir Medical Center.

Professor of Ophthalmology- Sackler Faculty of Medicine, Tel-Aviv University.

Inventor of several patents/applications and Founder of Ophthalmological ventures.4

CEO, CTO & Co-Founder

CEO of Eliachar Technologies Development (Since 1996), one of the leading product development companies in Israel, specializing in the Medical Field.

Over 200 medical devices developed in various fields.Inventor and Co-Inventor of over 80 filled patents.

Business Development

Director of Technology Transfer in fields of Medical Devices.

Has commercialized numerous medical technologies over the last 7 years.

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WHO estimations:• around 20 million performed globally in 2010• expected to reach 32 million by 2020.

Cataract Surgeries

The Market

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* source: WHO**The US contribution towards the global cataract surgery devices market was 32% in 2010.

Total Expander Market

% of Small Pupil/IFIS

Cataract Surgeries (M)*

Country

245,000 7% 3.5 USA**

40,000 5% 0.8 Germany

25,000 5% 0.5 France

156,000 3% 5.2 India

Common in Eye Conditions Such as: Pseudoexfolialtion Intraocular inflammation (uveitis) or

surgery Secondary to local medications

such as Pilocarpine or systemica1 antagonist (IFIS syndrome).

Operating Through Small Pupillary Aperture Increases Complications

Small or Constricted Pupil

Need: Easy and safe pupil expander

Small pupil

Normal pupil at phacoemulsification

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The APX Pupil Expander - Advantages

Practical, Clinically - Driven FeaturesA Safe Device that Doesn’t Slow

Down Surgery!

Benefits Features

Smooth insertion and removal•Highly Safe•Saves total procedure time•Minimal learning curve

“Scissors Design” - Moveable tips•“Contracted” at insertion•“Expanded” at site

Does not Interfere with surgical maneuvers

Horizontal external anchoring

No intraocular manipulations required External positioning and maneuvering

The surgical field is not impeded by the device

Two independent devices

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The Product – APX Kits

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APX 100

Stainless Steel (2 Retractors + 1 Forceps)

APX 200

Plastic (2 Retractors + 2 Forceps)

Competition Comparison:

Iris Hooks Malyugin Ring APX 200

4 8 4 Iris Contact Points

Yes No Yes External Anchoring

4 0 2 Additional Incisions required

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There are two families of Competitive devices:1 – Various Rings, the Malyugin Ring being currently the most popular.2 – Iris Hooks.

In addition to the Table below, we claim: Faster and Easier Positioning and Removal. External Positioning. No Intraocular Manipulations required. The Physician does not operate over the device. Less damage to the Iris due to a limited force spring expansion.

APX 100: Post Marketing Evaluation

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Better than Malyugin for pupil dilation + easier to remove + doesn’t interfere with instruments/Phaco + doesn’t interfere with IOL insertion through main incision

Excellent alternative for pupil dilation, in the small pupil cases

Novel, a true star raising technology for an increasingly common surgical problem

Much easier insertion and removal compared to Malyugin Ring or Iris Hooks

Some comments and feedbacks from MDs:

APX 100: Post Marketing Evaluation

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15 Cases, performed by 7 US KOLs

Ease of loading the device on forceps 4.5

Ease of insertion of the device into the anterior chamber through a 19G incision

4.7

Ease of placing the hooks behind the iris

4.5

Effective dilation of the pupil 4.9

Ease of surgical maneuvers through the dilated pupil

4.7

Stability of pupil dilation throughout surgery

4.9

Ease of removal of the device from the anterior chamber

4.9

RatingsVery Poor Poor Fair Good Very Good

1 2 3 4 5

How would you rate the device reliability?

4.9

How would you rate the device compared to competitive alternatives?

4.7

How would you rate the performance of the device for its intended use?

4.9

Overall satisfaction of the device? 4.8

Intellectual Property

Strong Global IP Position

1. IRIS RETRACTOR, priority date 02/11/2009

[USA, EU, Australia, Canada, China, India, Israel, Japan,

Korea, Brazil, Russia]

2. IRIS RETRACTOR ASSEMBLIES, priority date 24/10/2011

3. IRIS RETRACTOR FORCEPS, priority date 19/04/2013

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Go To Market Strategy

Distribution agreements - Product Launch in the US in 2015

Distribution agreements - Product Launch in Europe in 2015

Market Acceptance

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M&A

Potential Global Partners

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Licensee/Acquirer Value Proposition

Establishing a real competition to the market leaders!

Value by:

• Increase revenues and market share

• Expand product portfolio

• Positioning as provider of Premium Products

• Positioning as “difficult cases” solution provider

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Deals in the Field

ACQUISITION OF MICROSURGICAL TECHNOLOGY, INC. by Halma (the owner of the Malyugin Ring):

The initial cash consideration is $57 million for the share capital plus $2 million for cash retained in the business. Contingent consideration of up to $43 million is payable if earnings for the two years to March 2015 exceed pre-determined targets.

Total Deal - $102M *source: http://www.halma.com/about-halma/acquisitions/acquisitions-history/2012/acquisition-microsurgical-technology.aspx

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Closing

Thank you!

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For more information, please contactIlanit Frank Hakim, ilanit@mor-research.com,

+972-52-3564329