BioPorto (BIOPOR) AGM 2025 Presentation summary

Strategic direction and business highlights

• Long-term strategic plan extends to 2029, with key 2024 milestones including pediatric and adult usage launches, and a financing round.

• ProNephro AKI (NGAL) US sales grew 34%, total sales up 17%, and a new global distribution deal with Beckman Coulter was signed.

• First patient enrolled in US adult ProNephro AKI (NGAL) study in October 2024, ahead of schedule.

• Strengthened commercial platform and expanded sales staff in US and Europe, with NGAL now present in 9 of the top 10 US children's hospitals.

• Total available market for NGAL in AKI diagnostics estimated at $3bn, with market growing at 5% annually.

Leadership and governance

• New executive management team established in 2024, including CEO, CLO, CFO, and SVP Global Marketing & Commercialization.

• Board composition updated, with Henrik Juuel as Chair and Mats Thorén as member; new board proposal includes Jens Due Olsen and Donna Haire.

• Annual board evaluation showed positive results, with onboarding and succession planning as 2025 focus areas.

• Board remuneration for 2025 set at DKK 300,000 for members, DKK 450,000 for Vice Chair, and DKK 900,000 for Chair, plus share-based components.

• Deloitte proposed for re-election as auditor.

Financial performance and outlook

• 2024 revenue grew 17% to DKK 36.2m, driven by 34% US NGAL sales growth; ROW NGAL sales up 11%.

• Adjusted EBITDA loss increased to DKK 70.6m, reflecting higher S&M and R&D costs; cash position at DKK 59.7m end-2024.

• 2025 revenue targeted at DKK 45-60m, with expected growth of 24-66%; adjusted EBITDA loss forecast at DKK 75-85m due to increased S&M and clinical trial costs.

• Goal to reach DKK 80-125m revenue and EBITDA neutral by end-2026, and DKK 700m (USD 100m) revenue with profitability by 2029.

• Second financing round targeting USD 8.3m in H1 2025.