company presentation highlights

Company Presentation Highlights

Copenhagen, October 2019

Qlife - Egoo Health

- Enabling personalized diagnostics

STRICTLY CONFIDENTIAL

www.qlifeholding.com

AGENDA

TABLE OF

CONTENTS

2

ABOUT QLIFE AND EGOO.HEALTH 2

PERSPECTIVE ON CONSUMER RETAIL FROM 2023 4

THE STRATEGIC JOURNEY TOWARDS 2023 3

KEY INVESTMENT HIGHLIGHTS 1

AGENDA

TABLE OF

CONTENTS

3





4

STRONG MARKET DEMAND

UNIQUE TECHNOLOGY

CONSUMER ENABLED SOLUTION

A unique technology for home biomarker testing

developed over 20 years. Difficult to copy even for

large players

Strong demand for self testing both from hospital and consumer segment.

Significant market potential

Easy-to-use and low priced product enabling 1:1

consumer use within own home

PATENTS UNDER APPROVAL

VALIDATION STUDIES

IN PROGRESS

WELL ESTABLISHED

ORGANIZATION

CE marks expected to be obtained within 6 months

enabling consumer use

Patents on technology expected to be obtained within 6 months further

protecting the technology

Organization is well established and ready to

handle a strong scaling and execution

KEY

INVESTMENT

HIGHLIGHTS

WHY INVEST IN QLIFE?

WHY INVEST NOW?

AGENDA

TABLE OF

CONTENTS

5





BUSINESS OVERVIEW A strong team and unique product

The management team consist of experienced professionals who have more than 70 years of combined experience from the medtech industry

The management has worked together for 17 years and together they possess complementary executive industry experience

Qlife ApS is located in Copenhagen, Denmark

Qlife is a medtech company, which designs and manufactures the self-testing biomarker device,

Egoo.Health (Egoo), with the capacity to perform analyses that correlate above 99% with high

performance lab instruments

Egoo works as a platform in the sense that it can potentially test everything measurable from

blood. As a result, expanding the number of biomarker tests only requires the development of new

capsules

Egoo organization is well established and ready for scaling

Egoo.Health (Egoo), a personal biomarker device, is a self-testing platform for accurate, low cost and easy-to-use diagnostics

The test results are received within 10 minutes, and the simplicity of the system makes it operable by everyone

Egoo is developed to leverage Cloud technology. All tests are therefore available from everywhere

Lars Bangsgaard CFO and co-founder Thomas Warthoe

CEO and co-founder Peter Warthoe

CSO and co-founder

The Egoo device delivers identical performance as central laboratories, but differentiates itself by being accessible, portable and exoteric

Ebbe Finding CTO

6

THE COMPANY THE PRODUCT

THE TEAM CURRENT BIOMARKER TESTS

Rheumatoid arthritis

is a long-term

autoimmune disease

resulting in swollen

and painful joints

Cancer is a group of diseases involving abnormal cell growth with the

potential to invade or spread to other parts of the body.

Cancer patients go to many controls for testing relevant biomarkers and

adjusting their medication

PKU disease is a life

long challenge of

maintaining (PHE)

levels to avoid

neurological damage

ALAT CRP HB SUTENT PHE

RA CANCER PKU

Currently targeting the following diseases in thee chronically ill segment:

THE QLIFE VISION

Making blood sampling

convenient, painless, cheap, fast,

accessible and accurate.

Eventually resulting in more

frequent blood samples and

gained insight in personal health,

with increased possibility for

earlier discovery of illnesses

PRODUCTS

VALIDATION

Egoo is a mechanical device, the chemistry is in the capsules that are inserted and removed one at a time.

Egoo performs one test at a time with specific capsules for each test

Qlife will validate and CE mark each of the testing methods/capsules, one at a

time to ensure performance and accuracy in the tests provided

TRANSPARANCY

PERSONALITY

Qlife intends to be open, allowing information about which hospitals, institutions and departments are

involved in the validation projects. Qlife is openly disclosing information concerning the financing of the

validation projects

Qlife is solidly grounded with profound scientific background for the key R&D

people.

VISION The Qlife vision

7

A BIOMARKER DEVICE FOR HOME TESTING A unique technology enables biomarker self testing

Egoo is a biomarker device for the home that empowers consumers to take control of their health in 6 easy steps

8

3. Insert

Insert the blood into the

capsule

4. Part

Place the capsule in Egoo

2. Blood sample

Take a sample of blood

5. Test

Start test

1. Choose

Choose the biomaker

capsule you want

6. Learn

Analyse and learn from

the Egoo App

THE EGOO DEVICE FOR HOME TESTING

Egoo requires only a FEW DROPS OF

BLOOD from the index finger in order

to measure and MONITOR indicators

of VITAL ORGAN FUNCTIONS

and/or emerging disease stage in the

COMFORT of own home

KEY COMPONENTS OF EGOO A unique technology enables biomarker self testing

9

THE DEVICE

The device measures the content of the sample and analyses the test in less than 10 minutes

Through a combination of chemistry and bioengineering, the device delivers results on par with professional-grade lab equipment, significantly ahead of all competitors on the market

Everyone can perform a biomarker test in less than 10 min.

The capsule is fully disposable and comes with a new needle for every test

The drop of blood is filled into a funnel in the capsule

Currently five capsules have been developed for testing for PKU, RA and Cancer

The Egoo Cloud is fully able to leverage Internet of Things (IoT) technology

The connectivity of the Egoo Cloud enables data sharing and interaction with doctors and relatives

Finally, the connectivity with the Cloud allows for easy software updates of the Egoo device

Egoo comes with one simple app, the Egoo App, which automatically synchronises all data

The App is the center of the consumer’s health information

The App allows easy access to all data immediately after each test as well as access to historical data

Integration with the cloud gives the consumer an overview of his/her data and health status from different devices

THE CAPSULE THE APP THE CLOUD

THE EGOO DEVICE HAS FOUR PARTS

1 2 3 4

IoT

EGOO SOLUTION VERSUS EXISTING METHODS The Egoo solution is faster, smoother and enables self testing

10

Regular health status monitoring is required by a growing number of people

Accurate equipment for clinical tests is large, expensive, and exclusive to central laboratories

Currently, consumers have little/no personal access to their health data

Blood testing is a longsome process

The consumer can consult with the doctor from a position of knowledge about his/her biomarker values

The Egoo App gives the consumer control of their health by providing access to their health data

The cloud allows the doctor and relatives to access the data upon permission given by the consumer

MOST COMMON METHOD

THE EGOO SOLUTION

A blood sample is taken at a hospital or a doctor’s clinic

The doctor sends the blood sample to a central laboratory

The results of the blood test are send to the doctor

The actual blood test is done at the laboratory

The doctor forwards the results to the patient

Consumer Doctor Lab

Cloud

Egoo

EGODX

Doctor Consumer

The consumer takes a blood sample themselves and processes it at home

The doctor can see the results from the blood sample in their systems

• INSTANT TEST RESULTS

• ENABLING SELF TESTING

• NO WAITING NOR TRANSPORT

• EASY TO SHARE

With user-friendliness in focus Egoo has a simple interface, which can be operated by anyone

When the capsule is inserted in the device, Egoo will automatically identify what test to run

No other action is required by the user but to inset the capsule into Egoo

Egoo auto-calibrates its sensors before and after each assay run, thus requiring no on-site maintenance

A unique advantage of the Egoo device is its capacity to perform analyses that correlate above 99% with high performance lab instruments, all in a few minutes pr. test

TECHNOLOGY BEHIND EGOO Egoo is build upon synergies between biomarker high-tech and user-friendliness

The requirement of central lab comparable results requires central lab chemistry

One such example is the reaction chemistry mix in which Egoo measures fluorescence and absorbance changes

Egoo filters the plasma from the blood via a proprietary microfluidics filtration technology

The electromechanical elements of Egoo are provided by some of the most respected suppliers within bioengineering.

Egoo.heatlh has been working closely together with its suppliers in order to use and implement state-of-the-art components and modules – with purpose to invent the smallest possible device footprint without compromising data quality.

KMD A/S (minority owner and Denmarks largest IT company ) delivers the IT and cloud infrastructure in order to ensure uncompromised quality and security

The Egoo system is a constantly on-line platform and is thereby fully able to leverage IoT, and AI algorithms.

Data privacy and security is built into the DNA of the platform

11

ADVANCED

CHEMISTRY

STATE-OF-THE-ART

HARDWARE

SOPHISTICATED

SOFTWARE

UNIQUE TECHNOLOGIES…. …COMBINED IN ONE DEVICE

BIOMARKERS AVALIABLE Egoo currently support testing of three diseases

12

CA

PS

ULE

If the liver is damaged or

diseased, it releases additional alanine aminotransferase

(ALAT)

C-Reactive Protein (CRP) is a biomarker used to evaluate the inflammation level,

typically in relation to acute or chronic

inflammatory diseases

Hemoglobin (Hb) is the iron-containing oxygen-transport in the red blood cells. Hemoglobin carries

oxygen from the lungs to the rest of

the body

Sutent is an oral, small-molecule, multi-targeted

receptor tyrosine kinase inhibitor used

for certain cancer patients.

EXISTING CAPSULES

DIS

EA

SE

S • Rheumatoid arthritis

is a long-term

autoimmune disease

• It typically results in

swollen and painful

joints

• Cancer is a group of diseases involving abnormal cell growth with the potential to

invade or spread to other parts of the body

• Cancer patients go to many controls for testing relevant biomarkers and

adjusting their medication

• With the Egoo platform cancer patients can more frequently remain at home and

do the testing

• Provides added life quality and possibly better medication at a critical time in

their life

• PKU disease is a life

long challenge of

maintaining restricted

blood phenylalanine

(PHE) levels to avoid

neurological damage

• Patients can cannot

eat protein (or only

very regulated

amounts)

ALAT CRP Hb SUTENT PHE

Phenylalanine is an amino acid found in

many foods and used by your body to

produce proteins and other important

molecules

RA CANCER PKU

ANY BIOMARKER CAN BE

CONVERTED TO RUN ON

THE EGOO DEVICE

…as described later existing capsules are

sufficient to reach the financial plan until 2023

FUTURE CAPSULES

HIGH ACCURACY COMPARED TO LAB INSTRUMENTS Egoo accuracy at the level of lab instruments

13

y = 1,0006x + 16,247 R² = 0,9998

4

204

404

604

804

1004

1204

1404

1604

1804

4 204 404 604 804 1004 1204 1404 1604 1804

Ce

ntr

al la

b m

eth

od

(re

f8)

DK

µM

Egoo µM

Method Comparison Egoo (x) versus Central lab method (y)

ACCURACY MEASURED AGAINST LAB INSTRUMENTS ACCURACY IS KEY

• The Egoo device delivers results with a

very high accuracy (99%) compared to

hospital lab instruments

• This is unique as it enables the device,

not only to be an indicator of if a

professional test should be taken, but to

be an actual replacement of lab

instruments

• A hospital can use the measurements

directly in their daily work

• This is a key attribute of the Egoo device

THE CONSUMER APP The user friendly Egoo app enables consumers to gain control of their health

14

1. Start 2. Blood sample 3. Wait… 4. Results

• Complexity kept in instrument, capsules and backend • App is duplicable (e.g. to iOS) • Can be translated to any language within a few days • Copy protected capsule QR code with 256 bit AES encryption

PERFORMING THE TEST ANALYSING TRENDS

5. Analysing

• The consumer can analyse the history of test results to understand trends

THE CLINICAL PORTAL Egoo has a “clinician portal” where hospitals can manage many patients in one system

15

• The “group concept” in the clinical portal ensures that Egoo can be introduced to individual clinical trials or patient groups such as PKU groups with doctors associated

• Simple, but extremely versatile group concept

• Can be integrated with customers systems directly

• In public cloud (MS Azure), which makes it duplicatable and scalable when needed

• Egoo can access raw anonymized measurement data for all measurements, essential for monitoring and troubleshooting

• Secure and GDPR compliant

THE CLINICIAN PORTAL FEATURES

Hospitals can manage users and follow-up on

test results in the clinician portal

COMPETITORS No direct competitor to Egoo. Only real alternative is the professional lab equipment in Hospitals

16

LAB EQUIPMENT SELF TESTING

• Only relevant in smaller clinical set-ups

• Can only be used by skilled clinicians

• External manipulation of blood needed

• Few tests/biomakers per machine

• High price: App. 60.000 SEK per machine

POINT-OF-

CARE

MACHINES

• Only relevant in Hospital set-ups

• Can only be used by skilled clinicians

• Can test all biomarkers

• High price: Millions SEK per machine, however,

primarily leased

• Estimated to perform more than 90% of the worlds

biomarker tests

LAB TURB

MACHINES

SEMI

DISPOSABLE

DEVICES

A1CNow CardioCheck Plus CardioCheck Home

…and more

• One test per device - devices to test cholesterol or

diabetes/HbA1c

• Low accuracy

• Lower price

• Tests are done by the consumer at home

• Then sent to a central lab for testing

• Result is shared with consumers on an app

• Relative slow and expensive approach

• Still being performed on the lab turb machines

SHIPPING

MODELS

MOST

COMMON

METHOD

COMPETITORS: SHIPPING MODELS Many competitors exist within the “shipping model” – they are relatively slow and expensive

17

Only US (only selected states)

Only UK

COMPANY BUSINESS MODEL PRICING AVALIABILITY TESTS

Consumer Central Lab

Test is send to the consumer

Consumer takes blood sample and sends it back

Cloud

Test result is shared with the consumer through an app a

couple of weeks later

1

2

3

Consumer focused • A number of tests available:

Fertility, Heart health, Heavy metals, Menopause, Sleep, Stress, Testosterone, Thyroid, Vitamin D, Weight management

Pricing is 100 USD to 390 USD per test (app. 960-

3.700 SEK per test

Pricing is 59 GBP to 349 GBP per “package of

tests” (app. 1.140-4.190 SEK per test)

An clinician home

appoint can be ordered at 45 GBP (app. 640 SEK)

Consumer focused • Tests are divided into 3 topics

and within each there is 6-10 packages of tests

• Topics are: General Wellbeing, Diet & Fitness, Hormone Health

Consumer & Chronically Ill focused • Disease screening • Chronically Ill: RA test

99 USD per test (app. 960 SEK)

Only US (only selected states)

…even more companies exist with this business model

THE SHIPPING MODEL IS RELATIVELY SLOW AND EXPENSIVE - IF A PATIENT/CONSUMER WANTS TO TEST REGULARY IT EASYLY BECOMES AN ISSUE. EGOO GIVES INSTANT RESULTS AND IS CHEAPER AFTER APPROXIMATLY 10 TESTS

Sources: Company websites

COMPETITORS: LOW TECH TEST DEVICES Low tech test devices can only do selected tests and with lower accuracy

18

Solution

Measured blood biomarkers* Data

accuracy

(bias)

App for

graphs and

insights

Solution Cost

(SEK)

HbA1c CHOL LDL HDL TG CRP GLU Device Test cost

Egoo 98.0-99.5%

(≤3.0%) 8.500 150 / test

A1c Now Self Check

by PTS Diagnostics

92.5%

(4.6%) 145 / test

Cardio Check Home

by PTS Diagnostics

Data not

published 1.300 140 / test

Cardio Check Plus

by PTS Diagnostics

96.1-98.9%

(2.0-9.5%) 7.200 149 / test

*HbA1c: three month average blood glucose; CHOL: Total Cholesterols; LDL: ‘Bad’ Cholesterol; HDL: ‘Good’ Cholesterol; TG: Triglycerides; CRP: C-reactive protein; GLU: Instant Blood Glucose

A1CNow CardioCheck Plus CardioCheck Home

LOW TECH TEST DEVICES COMPARISON COMMENTS

• Low tech machines are only to a low

extend relevant to compare to Egoo

as they are not biomarker test-

platforms

• They have been made test specific

e.g. A1c and cholesterol

LEGAL STRUCTURE The legal structure

19

• Ownership structure is pre IPO

• Qlife Holding AB is a Swedish

company to be established in October

2019

• Qlife APS is a Danish company

containing the Danish activities

• KMD A/S is also the partner on all

software development

LEGAL STRUCTURE COMMENTS

Qlife ApS

12,83%

Qlife Holding AB

100%

Founders Private Investors

(Sweden)

Employee

Warrants Preseed Ventures

(Denmark)

KMD A/S

(Denmark)

60,7% 26,47%

Early investors Founders & employees Pre IPO investors

AGENDA

TABLE OF

CONTENTS

20





21

SEGMENTS Egoo has two key segments to target – first priority is the chronically ill

CHRONICALLY

ILL

CONSUMER

SELF TESTING

1

2

WHAT?

Only within PKU, RA or Cancer there are more than 300 thousand chronically ill

in the Nordics. Extending this to Europe will mean a potential target group of

+3,5 million

POTENTIAL DISTRIBUTION MODEL

The number of consumers interested in self

testing is growing exponentially

The global market for self-monitoring has twelve

folded in the three year period from 2013 to 2016. The market currently has a value of €18.6 billion and is

expected to reach €64.6 billion by 2022

Egoo currently support the following chronical diseases

Examples of consumer needs Egoo can support:

Urban people looking to track

their health beyond fitness

data

Overweight adults, motivated

to regain a healthy lifestyle

People with family history or

predisposition for cardiac,

metabolic or inflammatory

disorders

Adults looking to monitor CRP

due to high-risk of cancer or

auto-immune

Chronically ill are getting

their tests done at hospitals

today and physicians need

to monitor the results

THE MOST

ATTRACTIVE

WAY TO

DELIVER OUR

REVENUE

TARGETS

TOWARDS 2023

A SIGNIFICANT

OPPORTUNITY

IN THE FUTURE

For self testing purposes a

hospital is not needed.

Devices are sold through

consumer retail and test

capsules distributed directly

Hospitals,

speciality field

departments

Egoo Devices:

Consumer retail

Egoo capsules:

Direct to consumer

PKU RA CANCER

Chronically ill perform regular

biomarker tests and benefits from

home testing are extensive

22

THE JOURNEY The journey towards 2023

Validation studies with hospitals to

gain CE mark in DK and NL enabling

use by consumers

Receiving patents from outstanding

applications

Fulfilling first customer orders

Build customer base: Hospitals,

speciality fields

Scale production to deliver high

volumes

ENABLING

CONSUMER USE

BUILD REVENUE AND

AUTOMATIZE AND

OUTSOURCE

PRODUCTION

SCALING REVENUE

IN EUROPE

FIRST STEPS

TOWARDS CONSUMER

RETAIL

1 2 3 PRODUCT

READINESS

BUILD-UP

HOSPITAL VOLUME

SCALING

HOSPITAL VOLUME

JO

UR

NE

Y

TIM

E

Scale volume with Hospitals,

speciality fields in multiple

European countries

BECOMING READY FOR CONSUMER RETAIL

2019 2023

RE

VE

NU

E

4 ENTERING CONSUMER

RETAIL

Build retail distribution

Build direct to consumer

distribution and consumer

brand

EXPANDING RANGE OF BIOMARKERS

2020 2021 2022

A GLOBAL CONSUMER

BRAND WITHIN

BIOMARKER SELF

TESTING

23

PRODUCT READINESS Device and capsules will be ready for consumer use from the beginning of 2020

PRODUCT READINESS

EU “CE”

MARKING

27 EU

countries

TIM

E

Validation study Herlev (DK)

Patent application 1: Optics PATENTS

1

Validation study UMCG (NL)

CE MARK,

CANCER +

RA

CE MARK,

PKU

Patent application 2: Measuring directly in full blood

35 devices delivered

CONVERTED

TO AN EU

PATENT BY

END 2020

25 devices delivered

2019

Nov Dec Jan Feb July Aug Sept Oct Apr May Jun

APPLICATION

Mar Apr May

2020

PHASE 2: DATA

DK

PATENT

ISSUED

PHASE 1: PROCESSES

TO INITIATE CE MARKING VALIDATION STUDIES

EGGO HAD TO BECOME ISO 13485:206 CERTIFIED.

THIS TOOK A YEAR AND WAS COMPLETED MAY,

2019

GAINING A ”PROFESSIONAL” CE MARKING

PHASE 3: USABILITY

GAINING A ”HOME USE” CE MARKING

EGOO will be the first world

wide biomarker ”test

platform” supplier with a

“Home use” CE marking

PATENT REVIEW

TWO KEY PARTS IN JOURNEY The next 3 years journey contains two primary parts: 1) Scaling production, 2) Commercial scaling

24

Validation studies with hospitals to

gain CE mark in DK and NL enabling

use by consumers

Receiving patents from outstanding

applications

Fulfilling first customer orders

ENABLING

CONSUMER USE

1 PRODUCT

READINESS

JO

UR

NE

Y

TIM

E

2019

SCALING PRODUCTION

COMMERCIAL SCALING

A

B

REACH A FULLY SCALABLE AND EFFICINT PRODUCTION

DELIVERING A HIGH MARGIN

FULLY AUTOMATED IN-HOUSE CAPSULE

PRODUCTION

OUTSOURCED DEVICE

PRODUCTION

ONCE THE FIRST CE MARK IS APPROVED

COMMERCIAL SCALING CAN BEGIN

BUILD HOSPITAL

CUSTOMER BASE

BUILD KAM &

SUPPORT

ORGANIZATION

BUILD SALES

ORGANIZATION

BUILD

AWARENESS 2020

SCALING PRODUCTION CAPACITY Keep capsule production in-house and outsource device production

25

TODAY: 2019 END GOAL: 2022 SHORT TERM: 2020-21 5 mio.

units

CAPSULE

PRODUCTION

“By investing in machinery and

production facilities production

can be automatized”

• Capsule production is done in an in-

house “manual” production facility

A PART OF EGOO’S UNIQUE

CAPABILITIES

• No outsourcing partner has the

capabilities needed

1 t.

units

MANUAL PRODUCTION IS

SCALED TO MEET DEMAND

STATE OF THE ART

AUTOMATED

PRODUCTION

FACILITY IS READY

CA

PA

CIT

Y

DEVICE

PRODUCTION

“The Egoo device is unique –

production of an electronic device

is not. With many specialists world

wide outsourcing is obvious”

• Today the device is assembled manually

• All parts are produced by sub suppliers

THE APPLIANCE IS UNIQUE –

THE PRODUCTION IS NOT

• An outsourcing partner, who is specialised

in sourcing and production of electronic

devices, will be contracted

Unlimited

100

units

PRODUCTION WILL BE

OUTSOURCED

PRODUCTION

OUTSOURCED TO

SPECIALISTS ON

ELECTRONIC

DEVICES

CA

PA

CIT

Y

A

GM% TO RAISE SIGNIFICANTLY IN A HIGH SCALE, EFFICIENT SET-UP

SCALING PRODUCTION

SOFTWARE

IMPROVEMENTS “The software and integrations to external systems are key elements to

further strength of the Egoo offering”

MANUAL AT HQ

CONTINUES

OUTSOURCED DEVICE PRODUCTION Outsourcing device production to scale volume

26

A D

EV

ICE

PR

OD

UC

TIO

N

PRODUCT

READINESS

BUILD-UP

HOSPITAL VOLUME

SCALING

HOSPITAL VOLUME

TIM

E

2019 2020 2021 2022 2023

1 2 3

• Manual production/assembly at HQ

• Preparation of outsourcing – finding

supplier, make contract, handover A FULLY OUTSOURCED PRODUCTION AND

ASSEBLY OF DEVICES

FULL SCALABILITY COMPLETED

Q4 2020

FINALIZED

DESIGN

MASTER

FILE

COST PRICE DECREASES WITH VOLUME The cost price per device and capsule will decrease significantly with volume

27

A

COST PRICE: CAPSULE COST PRICE: DEVICE

2020 2021 2022 2023 2020 2021 2022 2023

Cost price Cost price

• With the volume increase and outsourcing of production cost, price

will decrease significantly towards 2020

• From there, it will decrease with a slower pace

• With the volume increase and the initiated production optimization,

the cost price will decrease significantly

OUTSOURCING

COMPLETED

Q4 2020

PRODUCTION

FULLY

AUTOMATED

END 2022

28

THE CHRONICALLY ILL MARKET The chronically ill market has many potential patients being handled by relatively few speciality fields departments within hospitals

B

Rest of EU SUM ‘000

PATIENTS PER CHRONICAL DISEASE PER MARKED, EUROPE

PKU

RA

CANCER

0,4

30

48

0,6

60

96

0,3

15

24

0,4

15

24

1,8

90

145

4

300

482

5

300

482

4

300

482

22

300

482

38

1.410

2.265

PKU

RA

CANCER

1

20

20

2

40

40

1

10

10

1

10

10

2

40

40

5

100

100

5

100

100

5

100

100

15

300

400

37

720

820

HOSPITAL SPECIALITY FIELDS CENTRES PER CRONICAL DISEASE PER MARKED, EUROPE

A LARGE POTENTIAL

MARKET…

…WHICH CAN BE

REACHED THROUGH

RELATIVELY FEW

DISTRIBUTION

POINTS

Source: https://www.espku.org/; https://www.gigtforeningen.dk/media/3884/gigtforeningens-noegletalspublikation-2018.pdf, https://www.cancer.dk/hjaelp-viden/fakta-om-kraeft/kraeft-i-tal/nogletal/. Assuming similar levels compared to inhabitants across Europe. Yearly price per patient is expected to be a combination of a device and 1-2 tests a week

CURRENT CUSTOMERS The hospitals running studies are also the first paying customers

29

CUSTOMER STUDY TOWARDS CE MARK NEXT PLANNED ORDER

• UMCG Hospital in Gronningen, Holland.

Department for Phenylketonuria (PKU).

Large reference hospital

• Is running a study of home monitoring of

phenylalin – critical biomarker for PKU

patients related to dietary intake

30

# devices

bought

• Herlev Hospital in Copenhagen area,

Denmark. Department for Kidney

cancer. Large reference hospital

• Is running a study of home monitoring

biological drug concentration and 5

additional biomarkers

25

• Frederiksberg Hospital in Copenhagen

area, Denmark. Department for

Rheumatoid Arthritis (RA)

• Is running a study of home monitoring of

arthritis patients

20

CE MARK

# devices,

next order

100

35

300

• Roll-out to defined PKU trial

patient group

• UMCG handles all patients in the

Netherlands, scaling to next level

of patients

• Next step is to double the group

of test patients

• Next cancer department starts to

use

• Planned a broad roll-out to 300

patients

• Frederiksberg handles a 1/3 of

the Danish capital regions

patients - app. 1000 patients

B

MARKETS REASON FOR PRIORITY

30

MARKET PRIORITIZATION Egoo will follow a near market expansion strategy

B

DENMARK

NETHERLANDS

NORDICS

UK

FRANCE

• Home market - access to leading KOLs

• Projects on-going in focus fields (Cancer, RA, PKU)

• Projects will migrate into product sales

• Dutch Pan-European PKU society

• Clinical trials, sales to participants post trial

• Support sales process and scale EU

• • Connected to Denmark – can be handled from Denmark

• Similar heath systems as Denmark

• Three languages

• Significant European market

• Key in reaching full European potential

• Largest PKU group - Qlife has access to UK KOLs

• KOLs in close contact between DK, Netherlands and UK

• Expected to further scale sales

GERMANY

OTHER EU • CE marking will be for all 27 EU countries

• Reaching the remaining countries will be easier when the leading European countries are covered

• Significant European market

• Key in reaching full European potential

1

2

3

4

5

6

7

MARKETS OUTSIDE EU From 2020 the search for partners outside Europe will be initiated

31

B

From 2020 the

search for partners

(distributors, licensees

etc.) outside Europe will

be initiated

World market Europe

• Handled through own sales force

• One European CE mark

• Production handled from HQ

• Logistics handled from HQ

• Decide on the right partner set-up per country

• Search for the right partners to support Qlife

• Initiate expansion outside EU

32

ORGANIZING: OVERVIEW Scaling the organization

R&D

Finance &

Logistics

CEO

QA/RA

1

9

1

Capsule

Production

Device

production

3

Total: 20

3

OR

GA

NIZ

AT

ION

PRODUCT

READINESS

BUILD-UP

HOSPITAL VOLUME

SCALING

HOSPITAL VOLUME

TIM

E

END 2019 2020 2021 2022 2023

1 2 3

R&D

Finance &

Logistics

CEO

QA/RA

2

10

2

Capsule

Production

Device

production

Sales &

Marketing

4

7

4 R&D

Finance &

Logistics

CEO

QA/RA

3

13

2

Capsule

Production

Device

production

Sales &

Marketing

6

14

7 R&D

Finance &

Logistics

CEO

QA/RA

6

14

3

Capsule

Production

Device

production

Sales &

Marketing

2

21

7 R&D

Finance &

Logistics

CEO

QA/RA

10

16

3

Capsule

Production

Device

production

Sales &

Marketing

2

45

11

EXPECTATION END 2019 SCALING MANUAL

PRODUCTION AND SALES DEVICE PRODUCTION

OUTSOURCED CAPSULE PRODUCTION

AUTOMATED A STONG COMMERCIAL ORGANIZATION BUILD

Total: 30 Total: 46 Total: 54 Total: 88

Sales &

Marketing

2

33

ORGANIZING: COMMERCIAL ORGANIZATION Scaling the organization

OR

GA

NIZ

AT

ION

PRODUCT

READINESS

BUILD-UP

HOSPITAL VOLUME

SCALING

HOSPITAL VOLUME

TIM

E

END 2019 2020 2021 2022 2023

1 2 3

Technical

support

CCO

Marketing

1

1

Sales

Customer

service

1

3

LIMITED COMMERCIAL ORGANIZATION

BUILD-UP IN DK AND NL

EXPANDING TO 5 COUNTRIES

FURTHER EXPANSION AND CUSTOMER BUILD

WELL ESTABLISHED IN EUROPE

KAM

Technical

support

CCO

Marketing

2

2

2

Sales

Customer

service

2

5 KAM

Technical

support

CCO

Marketing

3

3

3

Sales

Customer

service

3

8 KAM

Technical

support

CCO

Marketing

8

8

3

Sales

Customer

service

9

16

Total: 7 Total: 14 Total: 21 Total: 45

Technical

support

Marketing

1

1

AGENDA

TABLE OF

CONTENTS

34





35

MARKETS Egoo has two key consumer segments to target – the end goal is the consumer self testing market

CHRONICALLY

ILL

CONSUMER

SELF TESTING

1

2

WHAT?

Only within PKU, RA or Cancer there are more than 300 thousand chronically ill

in the Nordics. Extending this to Europe will mean a potential target group of

+3,5 million

POTENTIAL DISTRIBUTION MODEL

The number of consumers interested in self

testing is growing exponentially

The global market for self-monitoring has twelve

folded in the three year period from 2013 to 2016. The market currently has a value of €18.6 billion and is

expected to reach €64.6 billion by 2022

Egoo currently support the following chronical diseases

Examples of consumer needs Egoo can support:

Urban people looking to track

their health beyond fitness

data

Overweight adults, motivated

to regain a healthy lifestyle

People with family history or

predisposition for cardiac,

metabolic or inflammatory

disorders

Adults looking to monitor CRP

due to high-risk of cancer or

auto-immune

Chronically ill are getting

their tests done at hospitals

today and physicians need

to monitor the results

THE MOST

ATTRACTIVE

WAY TO

DELIVER OUR

REVENUE

TARGETS

TOWARDS 2023

A SIGNIFICANT

OPPORTUNITY

IN THE FUTURE For self testing purposes a

hospital is not needed.

Devices are sold through

consumer retail and test

capsules distributed directly

Hospitals,

speciality field

departments

Egoo Devices:

Consumer retail

Egoo capsules:

Direct to consumer

PKU RA CANCER

Chronically ill perform regular

biomarker tests and benefits from

home testing are extensive

36

INITIATING THE CONSUMER RETAIL JOURNEY

FIRST STEPS

TOWARDS

CONSUMER

RETAIL

1

2

3 PRODUCT

READINESS

BUILD-UP

HOSPITAL VOLUME

SCALING

HOSPITAL VOLUME

JO

UR

NE

Y

TIM

E

BECOMING READY FOR CONSUMER RETAIL

2019-2021 2023

RE

VE

NU

E

4 ENTERING CONSUMER RETAIL

EXPANDING RANGE OF BIOMARKERS

2022

BUILDING A GLOBAL CONSUMER BRAND WITHIN

BIOMARKER SELF TESTING

Getting ready through 2022 and

2023

LAUNCH NEW

CONSUMER FOCUSED

CAPSULES

BUILD DIRECT-TO-

CONSUMER

DISTRIBUTION

BUILD ELECTRONICS

RETAIL DISTRIBUTION

BUILD BRAND

AWARENESS

37

CONSUMER MARKET PRODUCT PIPELINE A long range of biomarker tests can be developed targeting the self testing market

CO

MM

ER

CIA

L

RE

AS

ON

P

RO

DU

CT

PIP

EL

INE

• 3-months

average glucose

• A firm diagnosis

for pre-diabetes,

T1 and T2

• Relevant to

monitor for

everyone

• Cholesterols

levels should

always be

monitored

• Especially

relevant if

genetically too

high

• Many people are

low on Vitamin

D without

knowing

• Monitoring of

VitD

supplements

level

• Todays stress

and depression

has become a

population

disease

• Egoo can

measure if it is

there!

Vitamin D

• Chemistry in

development

HbA1c

• Chemistry

developed

• Needs to be

transferred to

capsule

Lipids

• Chemistry

developed

• Needs to be

transferred to

capsule

Cortisol

• Chemistry in

development

• Egoo can

measure

biological drugs

and their efficacy

• Humira is the

worlds highest

selling biological

drug

Humira

• Chemistry in

development

• For sports

enthusiast lactat

is relevant to

measure for

endurance and

training

• The liver should

always be

monitored

especially

related to

medication and

toxicity

Lactat

• Chemistry in

development

ALAT

• Is developed and

ready to CE-

mark as a part of

supporting

cancer and RA

focus cases

POTENTIAL PRODUCT PIPELINE TARGETED THE CONSUMER MARKET

Developing a new

biomarker is a

significant task

• Inflammation

level and blood

percentage is

relevant for most

people

• CRP indicates

need for

antibiotics

CRP&Hb

• Is developed and

ready to CE-

mark as a part of

supporting

cancer and RA

chronically ill

focus cases

In CE marking

process

In CE marking

process

38

PERSPECTIVES ON MARKET SIZE Perspective on market size in consumer self testing

Source: European Cardiovascular disease statistics, 2017; The World Bank, 2015; World Cancer Research Fund International, 2012

Urban people looking to track their health beyond fitness data

DK: SE:

30,564 105,972

NO: FI:

31,042 31,987

Quantified fitness and health parameters

Egoo quantifies clinically relevant data points and can be auto-synced to other apps and

devices

Adults with family history or predisposition for cardiac, metabolic or

inflammatory disorders

DK: SE:

545,986 908,650

NO: FI:

466,736 524,428

Reliable data to help delaying or deterring the influence of hereditary predisposition

Lab-grade biomarkers makes it easy to track and to spot unfavorable trends

Overweight adults, motivated to regain a healthy lifestyle

DK: SE:

84,469 148,789

NO: FI:

82,646 90,693

Actionable data to realize causality between diet and

changes biomarkers

Egoo motivates self-control to lower risk factors through tests of lipids and Hb1Ac

Adults looking to monitor CRP due to high-risk of cancer or auto-immune

DK: SE:

110,177 185,599

NO: FI:

102,666 104,045

Detection of early stage cancer or auto-immune signals

Using the CRP tests regularly, Egoo will alert users at an early stage

Parents looking to track children’s HbA1c DK: SE:

134,472 147,768

NO: FI:

95,736 119,736

Easy-to-use tool to monitor HbA1c

Egoo can help keeping track of HbA1c with graphed trends, instead of measuring instant

blood glucose daily or weekly

CONSUMER SEGMENT SEGMENT SIZE (# consumers) CONSUMER NEED EGOO BENEFITS

…NOT EXHAUSTIVE – ONLY EXAMPLES OF RELEVANT CONSUMER SEGMENTS

The worldwide self-testing

market is expected to surpass

€64.6 billion by 2022

39

CONSUMER RETAIL DISTRIBUTION MODEL Egoo devices will be distributed through electronic retailers where as capsules are sold directly to consumers

EGOO

ELECTRONICS

RETAILERS CONSUMERS

Capsules sold to consumers on subscription

or one-by-one

1 2

Devices

Direct-to-consumer sales of devices

Devices sold to electronics retailers who then sells to

consumers

3

Revenue type

Distribution channel

Consumer price

Expected share of future revenue

Qlife GM%*

Devices Electronics

retailers 8.500 SEK 30% 40%

Capsules Direct to

consumers 150 SEK 60% 90%

Devices Direct to

consumers 8.500 SEK 10% 80%

Note: *When production is fully scaled

CONSUMER RETAIL DISTRIBUTION MODEL EXPECTED REVENUE DISTRIBUTION

ELECTRONIC RETAILERS ARE DRIVING THE SALES OF DEVICES FORWARD, BUT THERE WILL BE A DIRECT CONNECTION TO EGGO PRIMARELY IN

SELLING CAPSULES

2

1

3

VALUE PROPOSITION The Egoo consumer self testing value proposition

Enabling self testing at

home and for your own

purpose

ENABLES SELF TESTING

Access to elsewise

inaccessible data about

yourself. Before only

doctors would be able to

make this data available

ACCESS TO DATA ABOUT YOURSELF

Egoo tracks all your

measurements and lets

you monitor and analyse

trends

ANALYSE YOUR OWN DATA

All results are available in

the cloud and can be

integrated to anywhere

CLOUD AVALIABLE RESULTS

Accuracy is at 99% of

what central labs deliver.

This means no loss of

accuracy

ACCURACY AT LEVEL CENTRAL LABS

An Egoo device is not

limited to a few biomakers

DEVICE NOT LIMITED TO BIOMARKERS

40

APPENDIX

41

THE CURRENT ORGANIZATION Current organization is well developed. No commercial organization yet

42

CEO

QA/RA

Assay

chemistry

Device

production

Total: 13

CU

RR

EN

T O

RG

AN

IZA

TIO

N

ORGANIZATION

CFO

CSO

ROLES & RESPONSIBILITIES

Capsule

Production

Overall company responsibility

Financial responsibility

System science responsibility

System technical responsibility

Capsules and instruments - transfer to production

Quality and regulatory, contact to authorities, approvals

IT/data and system integration

Instrument Co-processor

System language integration, execution protocols

Capsule and instrument assembly

System integration and algorithms (machine learning)

App and GUI interface

Thomas, CEO

Lars, CFO

Peter, CSO

Ebbe, CTO

Robert, Production manager

Pernille, QA/RA manager

Ask, IT/data manager

Ove, Electronics Specialist

Terry, Software Specialist

Production employees (3)

Rene, Software Specialist

Outsourced

IT/Software

4

No commercial

organization yet – key

part of future journey Outsourced Optimization of capsule assay chemistry

Cloud and data management Outsourced

CTO Production Man.

Work experience Former CEO of Atonomics – a medtech company with focus on developing point-of-care systems

for the IVD industry Founder and former CEO of Ampliqon – a Danish manufacturer of PCR enzymes and laboratory

reagents Founder and former CEO of Display System Biotech – manufacturer of technology within

molecular biology with focus on genomics

Education B.Sc. in Economics and Business Administration – Copenhagen Business School, Denmark

Other Raised more than €50 million in venture capital Two successful companies exists Originated and transacted strategic partnerships with global diagnostic companies (Backman

Coulter, Shionogi, Omron etc.) Through his positions in current and previous companies, he has become a market expert within

the diagnostics industry

Work experience Former CSO of Atonomics – responsible for development of all scientific know how Former CSO of Ampliqon – acquired by DB Lab Holding A/S Former CSO of Display System Biotech – Acquired by a Danish biopharmaceutical company Education M.Sc. in molecular biology/ biochemist – University of Copenhagen, Denmark B.Sc. in Biomedical Laboratory Technology

Other Co-inventor of the mRNA differential display technology Inventor of of IsoPCR and RT-IsoPCR Strong technology background in micro fluidics, blood filtration, biosensors, bio amplification

and assay design Pioneer in development of gene chip- and micro array technology More than 28 years of experience within biotechnology and biochemistry

Responsible for managing the company, all operations, strategic and financial planning

Head of scientific research operations. Responsible for developing research

43

MANAGEMENT TEAM (1/2) Experienced management team with multi-exit experience

Thomas Warthoe – CEO and co-founder Peter Warthoe – CSO and co-founder

Work experience Former CFO of Atonomics Former CFO of Display Systems Biotech Former CFO of Volvo Denmark Former CFO of Stena Metal Former Controller at Rockwool Former Accountant at Deloitte

Education Graduate Diploma in Business Administration (Accounting) – Copenhagen Business School,

Denmark

Other Certified public accountant with a broad entrepreneurial background Successfully raised more than €40 million in previous involvements with start-ups

Work experience Former Consultant and R&D Engineer at Data Respons A/S Former R&D Engineer at Embedit A/S Former R&D Engineer at AWS Technology ApS Education B.Sc. In Mechanical Engineering – Haslev Teknikum, Denmark Other Extensive experience in Mechanical Engineering Experience span from medical and mobile devices to integrated electronics Main professional expertise is product development, industrial design and cross disciplinary

project management Background as a mechanical engineer with apparatus engineering as main subject Solid experience in all phases of a product development process, from initial ideas, through

design, prototyping, sourcing and testing, to the finished manufacturable and validated product

MANAGEMENT TEAM (2/2) Experienced management team with multi-exit experience

44

Responsible for managing financial planning, financial reporting, and managing financial risks

Lars Bangsgaard – CFO and co-founder

Responsible for all technical and mechanical developments of the Egoo platform

Ebbe Finding– CTO

BOARD OF DIRECTORS Experienced board of directors

45

Mette was CFO Iconovo through their IPO-process First North Sthlm in 2018 and Vigmed when they listed on First North Sthlm a few years back

Mette Gross – Chairman

The search for an industry expert to supplement the board initiated

Search for industry expert initiated

MD at KMD Ventures. KMD is one of Denmark’s largest IT companies. KMD has both invested in Qlife, but Qlife also has a strategic co-operation with KMD in

developing the Egoo IT platform and infrastructure

Niklas Marshall – Member

Experienced business angel within Life Science based in Lund and with a large network in both Sweden and Denmark

John Moll – Member

Month 1 Month 2 Month 3 Month 4

What

Pitch

meeting

Trial

intro &

training

Trial

execution

Follow-up

meeting

Final

contract

Contact Finalizing

• First meeting with leading professor. Tech file presented

• Intro to the trial and training of staff

• Support in executing the trial

• Follow-up meeting with professor

• Final contract

Clinical trial

THE SALES PROCESS The sell-in to hospitals is expected to shorten overtime as the product matures

REFERENCE

CUSTOMERS

FIRST

CUSTOMERS – GAINING

FOOTHOLD WITH

1-5 CUSTOMERS

PER COUNTRY

PRIMARY SALES PROCESS FIRST YEARS

Month 5 Month 6

Pitch

meeting

Trial

intro &

training

Trial

execution Follow-up meeting

Final

contract

Pitch

meeting

Final

contract

ESTABLISHED

STANDARD

3 months 4 months 6 months

The sales process will shorten over time from reference customers to established

standard

46

B

CUSTOMER STAKEHOLDERS The speciality field professor is the key stakeholder in the decision process

47

B

Government

Procurement

Hospital

management

Speciality

field

professor

Clinicians

JOB TO GET DONE? WHAT TO GAIN? CURRENT PAINS?

• Manage efficient

hospital within

budget

• Save money

• Efficiency and

good results

• Reach budget

• Save money

• Limited

resources and

budget

• Hospitals not

having same

goal

• Manage

specialty field to

high standards

• Manage budget

• Treat patients well

• Be recognized

from research or

being “first mover”

• Limited

resources and

budget

• Treat patients • Treat patients

well • Limited

resources

HO

SP

ITA

L

GO

VE

NM

EN

T

IMPACT ON FINAL PURCHASE

INT

ER

ES

T IN

IM

PL

EM

EN

TIN

G

HIGH

MID

LOW

LOW MID HIGH

Government

Procurement

Hospital

management

Speciality field

professor

Clinicians

THE SPECIALITY FIELD PROFESSOR IS THE KEY DECISION MAKER IN THE SALES PROCESS AS THIS IS WHERE BOTH INTEREST AND DECISION POWER ARE HIGHEST

48

VALUE PROPOSITION The Egoo chronically ill value proposition

Enabling personalized

diagnostics – getting

patients involved in their

own health

ENABLE PERSONALIZED DIANOSTICS

Patient are empowered to

run own tests from home

not having to visits a

hospital or fit into a

hospital schedule

PATIENT LIFE QUALITY

As all results are available

both to physicians and

patients in the cloud it is

instantly shared

EASIER JOB FOR EMPLOYEES

All results are available in

the cloud and fully

integrated to hospital

systems

CLOUD AVALIABLE RESULTS

Accuracy is at 99% of

what central labs deliver.

This means no loss of

accuracy

ACCURACY AT LEVEL CENTRAL LABS

An Egoo device not

limited to a few biomakers

as other point-of-care

devices – this offers

future possibilities

DEVICE NOT LIMITED TO BIOMARKERS

B

HOSPITAL BUSINESS CASE For PKU tests, hospitals will find direct savings of 66%. In general, hospitals will experience significant indirect cost savings

49

DIRECT COSTS INDIRECT COSTS

Hospital Turb

Machines

At very high

yearly volume

Hospital Turb

Machines

At very high

yearly volume

-66%

PKU

Cancer/RA

0%

As a PKU test is not a

standard test today for

hospitals, there is A

SIGNIFICANT DIRECT

SAVING from using

Egoo instead

As Cancer and RA tests

are “standard test” for

hospitals, Egoo can

”only” do it AT THE

SAME PRICE AS

TODAY

• Hospital staff savings: No blood samples are to be taken at the hospital, no manipulation of blood in labs, no queuing in central labs

• Administration savings: No booking of appointments, no systematizing blood samples

• Medicine savings: Significantly higher possibilities of personalized medication and adjustments of level of medicine

• Travel costs: No transport of patients, no transport of blood samples

EGOO OFFERS A SIGNIFICANT NUMBER OF INDIRECT SAVINGS

COMPARED TO THE HOSPITAL TURB MACHINES

Source: x

B

CONTRACT CONTENTS The contract with hospitals is a B2B contract – Qlife is not in direct contact with patients

50

B

GENERAL AFTER SALES SERVICE PRICE

• Training of hospital staff: Egoo responsibility

• Training of patients: Hospital responsibility

• Claim, patients: Hospital responsibility

• Claim, hospital: Egoo responsibility

In the contract period Qlife delivers:

Qlife has NO direct

patient contact

• Contract price drivers are: • # devices • # capsules • # integrations

• The price drivers will be used

to calculate the price of the full contract

• A number of functional devices within the contract period (Qlife owns the devices)

• Capsules per consumption

• Patient admin interface

• Integration to cloud platform to hospital systems

ELEMENTS IN THE HOSPITAL CONTRACT

51

DEVICE PRICING Final device pricing strategy to be determined once cost prices have been lowered and consumer launch approaches

% Respondents

Price (SEK)

C

B

D

A

ACCEPTABLE PRICE RANGE

Good value

Too cheap

Too expensive

Expensive

ILLUSTRATIVE EXAMPLE Westendorp

Pricing Model

10.000 9.000 8.000

LOWER PRICE HIGHER PRICE

• If the lower price allows for more devices to be sold it will also drive up capsule sales

• Qlife GM% on the device will be lower however it might be compensated by volume

• If volume builds, it might potentially drive cost price even further down

We will conduct the proper consumer research to determine the optimal device price

THE SIGNIFICANTLY DECREASING COST PRICES TOWARDS 2023 AND THE HIGH EARNINGS ON CAPSULES GIVES FLEXIBILITY TO DECIDE ON THE OPTIMAL PRICING STRATEGY OF THE DEVICE FOR EARNINGS

OPTIMIZATION

Retail price incl. VAT: 6.000 SEK

Only example

• A higher price will allow for a significantly higher GM%

• However if it lowers the volume of devices sold it will also lower the number of capsules sold where the GM% is even higher

• The lower volume might challenge further decreases of cost prices

Retail price incl. VAT: 8.500 SEK

BUILDING DIRECT-TO-CONSUMER PLATFORM Getting ready for direct-to-consumer sales

52

TA

SK

S

BUILDING A TECHNICAL PLATFORM RECEIVING FIRST ORDERS:

SMALL SCALE SCALING UP

TIM

E

2021 2022 2023

1 2 3

1a

1b

CHOOSING E-COMMERCE PLATFORM

DESIGNING ONLINE EXPERIENCE

2a

2b

CHOOSING WAREHOUSE SUPPLIERS

CHOOSING LOGISTICS SUPPLIERS

SELLING-IN TO ELECTRONIC RETAILERS BEGINS ELECTRONIC RETAILERS START SELLING

1c PROGRAMMING THE SITE 2c DEFINING AFTER-SALES SERVICE OFFERING

1d INTEGRATING WITH ERP SYSTEM 2d TESTING SET-UP WITH FIRST ORDERS

3a

3b

SETTING UP CUSTOMER SERVICE

EXECUTING ONLINE MARKETING STRATEGY

3c OPTIMIZING SITE

3d OPTIMIZING OPERATIONS

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