Artrya: Appendix 4D and Half-Year Financial Report
Market research conducted in the first and second quarters of FY22 informed the company’s market entry strategies and discussions began with two prominent institutes regarding clinical research and flow management programs of work.
Two senior clinician appointments were made in Q2 FY22.
Dr. Tom Cheek is a board-certified internal medicine physician and executive with extensive experience in medical management, onlyMedicare Advantage risk, Medicaid, clinical medicine, medical quality and outcome measurement. He is a 25-year veteran of Optum and UnitedHealth Group and is currently the Chief Medical Officer of UnitedHealthcare Clinical Services (UCS)
where he is responsible for improving the clinical care continuum for all UCS products, including reducing hospitalizations, emergency department visits, and increasing affordability of care. He was previously Clinical Vice President at Optum Care, Medical Director at Optum Health, Senior Medical Director at Aetna (one of the largest managed healthcare funds in the United States) and Senior Medical Director at University Physicians Healthcare.
Dr. Jim Bonnette has over 40 years of experience in the health field. Dr. Bonnette’s areas of expertise include strategic transformation of health care delivery systems, including value-based care and the federal health reform mandate. He
usehas in-depth knowledge of healthcare providers, payers and physician groups. He works with governments, payers, pharmaceutical manufacturers, GPOs, hospitals and health systems to improve strategic direction, operational efficiency and financial performance. He is currently Executive Vice President at Optum Health (a subsidiary of UnitedHealth Group) and Chief Health Officer at Cogitativo. He has held a number of high-level medical positions, including Chief Medical Officer and Senior Vice President of Clinical Operations for Vanguard Health Systems, an integrated healthcare company with 26 hospitals and several outpatient care centers in the United States. .
American Scientific and Clinical Advisory Boards
staffIn January 2022, Artrya announced the appointment of Dr. Jacque Sokolov as Chair of Artrya’s Scientific and Clinical Advisory Boards. Dr. Sokolov has advised healthcare organizations across the United States and has served on government entities
including the White House under four presidents and Senate and House committees.
Dr. Sokolov is Chairman and Chief Executive Officer of SSB Solutions, Inc., a diversified US healthcare management, development and financial services company. His company has worked with more than 100 healthcare organizations across multiple US healthcare industries to develop value-driven, physician-focused solutions in rapidly changing markets. Dr. Sokolov currently serves on several public, private, and not-for-profit health care boards. He is particularly focused on cutting-edge technologies involving advanced digital health companies such as GlobalMed and next-generation “gene-based” companies such as Calviri (mRNA diagnostics/products) and Lucid Diagnostics (DNA diagnostics-LUCD : NASDAQ). Dr. Sokolov received his BA and MD degrees from the University of Southern California and completed his residency in internal medicine at the Mayo Graduate School of Medicine, followed by a fellowship in cardiovascular disease/nuclear cardiology from the University of Texas-Southwestern Medical School.
The incentive agreements for Dr. Sokolov include 3.9 million 5-year options of which 1.3 million exercisable at A$1.35, 1.3 million exercisable at A$3.00 and 1.3 million exercisable at 5 $A.00 per option.
ForArtrya has partnered with global life sciences company Eversana to activate the National Health Service’s (NHS SBS) 2+2 year Commercial Shared Services Framework Agreement, which introduces Artrya’s Salix Coronary Anatomy product (SCA) in 1,250 trusted hospitals across the UK.
Discussions have been launched in December 2021 with a leading UK research institute to undertake studies that will confirm the workflow benefits of using SCA as part of the UK NHS Trust Hospital. We expect this agreement to be finalized in the third quarter of FY22.
Net loss for the period was $6.64 million (net loss for the six months to December 31, 2020: $1.93 million).
The company’s cash balance (including term deposits) was $43.7 million as of December 31, 2021.