Annual Shareholder Meeting Presentation
Annual
Shareholders
Meeting
11 September 2025
•The top line
•FY 2025 Highlights
•Key market activities
•FY 2026 Strategy
•Revenue Outlook
•The TruScreenTeam
•Appendix
The top line
4
TruScreen Group Ltd is a revenue
generating Life Science company
with a unique, AI-enabled real-
time cervical cancer screening
device.
The Company manufactures two devices :
•one made in China for use in China,
where locally manufactured products
have preferential market access
•one in Australia for other markets
For each patient screened with the
TruScreen device a new disposable Single
Use Sensor (SUS) must be used. This
creates a recurring revenue model with a
consumable sale for each patient screened
with TruScreen.
FY25 sales of NZ$ 1.7m,
compared to NZ$ 2.1m in
FY24.
This lower result was largely due to
program delays in:
•Zimbabwe (program validation
conducted Sept 2025)
•Vietnam (program launched April
2025, patient recruitment and
clinician screening training
commenced August 2025)
•Indonesia (registration achieved
and first sale April 2025)
•Uzbekistan (registration achieved
June 2025, and pilot program
MOU signed August 2025)
TruScreen Group Ltd forecast
FY26 sales to exceed NZ$ 2.8m,
making the Company monthly
cash flow positive in March ‘26
FY26 revenue is forecast to be made up
of revenue from our largest market China,
plus additional channels for which the
foundations were laid in FY25 – new
distributors Indonesia and India, Public
Screening Programs in Vietnam,
Zimbabwe and Uzbekistan, and our new
strategic alliance with Dalton Bio.
Combined with the agreement to
distribute Dalton Bioscience HPV DNA
equipment and kits this represents
significant product and geographical
diversification, broadening our business
operations.
5
Financial results
NZD (m)
FY22
Actual
FY23
Actual
FY24
Actual
FY25
Actual
Sales1.71.662.11.7
Total Revenue2.72.22.62.1
COGS1.31.31.41.2
R&D expenses1.50.90.90.8
EBITDA(2.7)(2.4)(2.0)(2.2)
Loss for Year(7.9)(2.9)(2.0)(2.2)
Net assets3.42.53.21.0
Cash2.82.22.70.4
COVID impact
The FY 25 lower sales result was
largely due to delays in roll-out
programs in Vietnam (launched
April 2025), and Zimbabwe
(validation conducted
September ‘25) and delayed
product registrations in
Indonesia and Uzbekistan.
Revenues from these delayed
commercial activities are
expected to be realised in
FY2026.
6
1m+
Women
Screened
112
Hospitals / Clinics
using TruScreen
14
Countries with
regulatory approval
232
Devices operational
worldwide
1000+
Healthcare professionals
trained
9
Regulatory
approvals in process
WHO and UNITAID
recognition
Clinical Performance
validations
30+
7
Saudi Arabia study published
with sensitivity 83.3% and
specificity 95% compared with
Pap test of 66.7% and 98.2%
respectively
Uzbekistan product registration completed to
enable the validation trial of TruScreen for a
national cervical cancer screening program
COFEPRIS approval
for use in Mexico
Public Health system
Launch of a 5 year, 260,000
women cervical cancer
screening program at Ho Chi
Minh City Public Health
Association
Indonesian distributor
appointed with commercial
sales commenced in a
significant addressable
market
Inclusion in Chinese Obstetricians and Gynecologists
Association (COGA) Blue Book guideline and China Society for
Colposcopy and Cervical Pathology (CSCCP) guideline
Appointment of
distributor for India, the
world’s second most
populous country
Agreement on
validation protocol
for additional public
screening programs
in Zimbabwe
Appraisal by Baylor Foundation
from the US for a public screening
program in Eswatini
Global Recognition
8
•World Health Organisation (WHO)
•UNITAID
•Clinton Health Access Initiative
•Daffodil Foundation - Australia
•China Obstetricians and
Gynaecologists Association
•China Society for Colposcopy and
Cervical Pathology
•Russia Cervical Cancer Screening
Guideline
•Vietnam Hospital Technical List
•CE Mark, European Union
•NMPA, China
•TGA, Australia
•MHRA, UK
•SFDA, Saudi Arabia
•Roszdravnadzor, Russia
•COFEPRIS, Mexico
•WAND New Zealand
•Zimbabwe Ministry of Health
•IEAKI Indonesia
•Vietnam Technical List
•India (Test Licence)
•Uzbekistan
TruScreen Regulatory Approvals
•ISO 13485
•IEC 60601-1
•IEC 60601-1-2
•CE Mark
International Approvals:Recognized by
International Quality
Accreditation:
9
Handheld device (HHD)
Intelligent Cradle
Single Use Sensor (SUS)
How The TruScreen Device works
10
Commercial Strategy
PRODUCT PORTFOLIO EXPANSION
DIRECT
CHANNEL
THE INDIRECT CHANNEL
•Global distributors
THE DIRECT CHANNEL
•Major public screening programs
supported by national Ministries of
Health and Non-Government
Organisations – Vietnam, Uzbekistan and
Zimbabwe planned so far for FY26
PRODUCT PORTFOLIO EXPANSION
•Addition of market agreements to
distribute Hangzhou Dalton Bioscience
Limited’s HPV DNA tests and equipment
INDIRECT
CHANNEL
FY 2025 Highlights
12
Capital raise oversubscribed - $4m raised
TruScreen raised $2.3 million through a share
Placement, with the issue of approximately 105
million shares at $0.022 each.
$2.3m
$1.67m
In addition, the Company has raised a further
$1.67 million with the issue of approximately
83.6 million shares through a Share Purchase
Plan (SPP).
Each Placement share and each SPP share has
attached one share option with an exercise
price of NZD $0.022 and an expiry date one year
from date of issue.
Placement
Options
SPP
•Growing TruScreen’s presence in the Chinese market
•Distribution of Dalton Bio IVD HPV DNA products
•Executing public cervical cancer screening programs in
Vietnam, Zimbabwe and Uzbekistan
•Development of African markets
•Continued development of the growing public cervical
cancer screening sales channel with key NGOs and
Ministries of Health
•Development of Indonesian and ASEAN markets
•Development of the Indian market
•Providing additional working capital
Funding allocation
13
•TruScreen’s sales to date have been
achieved largely through traditional sales
of devices and Single Use Sensors to
hospitals and clinics. In FY25 these
traditional channels made up 99% of
sales.
•In FY26, public screening programs are
expected to contribute greater than 20%
of total sales in FY26, with an increasing
percentage of sales expected from these
programs in future.
Entry into Public
Screening Programs
14
Vietnam
A 5-year program to screen 260,000 women
for cervical cancer using TruScreen in Ho Chi
Minh City launched in July 2025. The program
is a partnership between TruScreen, Ho Chi
Minh City Public Health Association and
distributor Gorton Health Services, and will
assist Vietnam to achieve its goal of screening
60% of women aged 30 to 54 for cervical
cancer (currently 25%).
April 12 2025. TruScreen Chair Tony Ho, President of the Ho Chi Minh
City Public Health Association Dr Le Truong Giang and Managing
Director of Gorton Health Services Mr An Trang sign the formal
agreement to conduct a 260,000 women screening program in Ho Chi
Minh City.
15
Zimbabwe
Since 2022, TruScreen has screened 14,000
women in the Masvingo Province, Zimbabwe,
through a public screening program managed
by the Zimbabwe National AIDS Council (NAC)
and the Ministry of Health and Childcare. Re-
validation will be completed in September
2025 to recommence and expand the program
to the Harare and other provinces - with
20,000 women expected to be screened in
FY26.
TruScreen’s Dr Carolina Velasquez training team in Zimbabwe, August 2025.
16
Uzbekistan
Following TruScreen’s receipt of regulatory
approval by the National Pharmaceutical
Safety Committee in Uzbekistan in June 2025,
a 500 patient pilot project is planned to
commence in September/October in
Karakalpakstan, Uzbekistan. Uzbekistan has
over 11 million women of screening age*, and
is also a major healthcare reference site for
neighbouring Central Asian nations.
TruScreen CEO Marty Dillon
signs MOU with Senator &
Professor Aral Ataniyazova
in Tashkent, Uzbekistan
The ‘Pilot Project for the use
of TruScreen‘in Uzbekistan
project team – Marty Dillon,
Dr Klara Yadgarova,Senator
& Professor Aral Ataniyazova
and Professor Asimidin
Kamilov
17
Medical Affairs achievements
•Included in UNITAID’s technology landscape report “Screening and treatment of pre-cancerous lesions for secondary
prevention of cervical cancer”, the only opto-electrical device included.
•Selected by StartUs Insights as one of six global companies that will have an impact on global women’s health.
•Invited to present at the WHO key meeting to further the use of AI technologies for screening of cervical cancer
Fudan University study
1
(n=1908), published by Springer Nature, concluded that TruScreen optoelectronic real time
screening detection accuracy outperformed liquid-based cytology (LBC) in patients with type 3 cervical transformation
zone.
Saudi Arabia study
2
(n=507) investigating TruScreen’s performance versus pap smears in cervical cancer detection
published and peer reviewed by BMC Women’s Health. Results showed that TruScreen demonstrated:
•High Sensitivity: TruScreen 83.3%, compared to Pap test 66.7%
•High Specificity: TruScreen 95%, compared to Pap test 98.2%
Beijing study
3
(n=100) from 2018 was published by Dovepress, demonstrating higher sensitivity (86.4%) and higher
specificity (74.4%) for screening cervical precancerous lesions in middle-aged women, compared to TCT and HR-HPV
tests. The study also demonstrated increased efficacy when used in combination with TCT and HPV tests and validates
TruScreen’s emerging markets growth strategy and recent agreement to distribute DaltonBio’s HPV IVD test products to
India.
OCT 24
NOV 24
APR 25
JUN 25
18
DaltonBio Strategic Alliance
Key points:
1.TruScreen to be appointed a global distributor of DaltonBio HPV related IVD products (excluding U.S.A. and Canada).
2.DaltonBio to explore opportunities to assist sales of TruScreen’s AI enabled real time cervical screening device within its
distribution network, notably in its selected distributors in China and South America. DaltonBio have 200 sub distributors in
China which may augment TruScreen’s current distribution network in it’s largest market.
•Q4 FY25 - Memorandum of Understanding signed with Hangzhou Dalton Bioscience (DaltonBio)
•Q1 FY26 - TruScreen and Dalton Bio sign Distribution Agreement for HPV products in India
The collaboration will enhance access to innovative cervical cancer screening and detection solutions by leveraging the
technology strengths of both companies. As demonstrated in the COGA landmark study (2023) and Beijing Obstetrics and
Gynecology Hospital study (Dovepress, May 2025), co-testing improved TruScreen’s already impressive standalone sensitivity
significantly.
19
HumanPapillomavirus(HPV)NucleicAcidDetectionSystems
HPV Self Sampling Collection System
The DH3 kit is used to detect 14 high-risk HPV types
that cause cervical cancer, provides relative viral load
values, and it has clinical guiding significance for
screening high-risk groups of cervical precancerous
lesions.
DH3 can distinguish HPV-16/18 and achieve risk
stratification management. The hybrid capture
technology it applies does not require nucleic acid
extraction and amplification, and has exceptional
reproducibility and negative predictive value. The use of
HPV full-length probes can effectively avoid missed
diagnosis.
HPV tests-DH
TM
series by DaltonBio
14 High-risk
HPV types
18 High- & medium-risk
HPV types
Key market activities
21
Key market China accounted for over 85% of global sales and exceeded
budget in FY25 and is now poised for expansion in 6 key provinces
•Key provinces for growth: TruScreen’s China distributor Beijing Siweixiangtai
Technology Co Ltd (SWXT) is targeting 6 key provinces for growth in FY26 - Guangxi,
Jiangsu, Hunan, Zhejiang, Shanghai and Guangdong. These provinces have a
combined population of 496 million, and an addressable screening market of
approximately 124 million women.
•TruScreen unaffected by US and China proposed tariff regimes: TruScreen markets
both an Australian and a Made in China device, providing a dual product strategy in the
key China market, with preferential market access for China manufactured products
•30% increase in SUS Pull Through: Consumable Single Use Sensor (SUS) pull
through per month per device has reached peak of 142 SUS per month per device, an
increase of 30 % over 12 months.
•Software Upgrade: China’s NMPA registration variations have been approved and
software upgrade on Chinese devices has commenced. The upgrade will improve user
experience for clinicians and extend the device’s in-use service interval.
CHINA
477 million
women of
screening age*
22
•Private Sector Expansion: SWXT targeting of the growing China private health sector including private clinic and Health Check
Centre approvals in Jiangsu and Shenzhen, and entry into the Luxury Hospital and Traditional Chinese Medicine Hospital
sectors.
•Public Health Insurance: In addition to having 11 provinces with approved pricing for TruScreen, Beijing has awarded public
health insurance reimbursement for eligible TruScreen patients. Shanghai has completed the final round of evaluation for public
health insurance reimbursement and once he administrative processes for this are formalised sales are expected to grow
rapidly in this province.
In April 2025 TruScreen and SWXT planned the expansion of TruScreen
sales in China. From left to right: Mr Li, partner SWXT, Marty Dillon, CEO
TruScreen, Miss Su Siming, Managing Director SWXT, Tony Ho, Chair
TruScreen and Mr Wang, SWXT manager of TruScreen business in China
hospitals have installed
TruScreen and actively use it
for cervical cancer
screening
hospitals have received
TruScreen approval, awaiting
tender completion
tenders won and awaiting
hospital installation
103
21
8
Currently in China:
=132
23
TruScreen selected to screen 260,000 women in Ho Chi Minh City and adoption
in Vietnam picks up pace – expected to be second largest market in FY2026
VIETNAM
36 million
women of
screening age*
5-year program to screen 260,000 women for cervical cancer in Ho Chi Minh City launched July 2025
Following the signing of a Memorandum of Understanding with the Ho Chi Minh City Public Health
Association and Gorton Health Services (Truscreen’s Vietnam distributor) in November, TruScreen has
been selected as the primary screening methodology for the capability of its unique, AI-enabled real time
cervical cancer screening technology to assist the Government of Vietnam achieve its goal of screening
60% of women aged 30 to 54 for cervical cancer (currently only 25% screened).
Public Hospital Adoption
In January 2025 Professor Michael
Campion presented at Tu Duc
Hospital in Ho Chi Minh City, leading
to 6 major Ho Chi Minh City hospitals
agreeing to adopt and install
TruScreen.
April 12 2025. TruScreen Chair Tony Ho, President of the Ho Chi
Minh City Public Health Association Dr Le Truong Giang and
Managing Director of Gorton Health Services Mr An Trang sign
the formal agreement to conduct a 260,000 women screening
program in Ho Chi Minh City.
24
TruScreen re-enters India with appointment of Renovate
Biologicals Pvt Ltd in April 2025
INDIA
468 million
women of
screening age*
India holds one-sixth of the world's population and one woman dies from cervical cancer
every eight minutes in the country. The cervical cancer screening rate is only 2%, and India’s
National Academy of Medical Sciences (NAMS) has recently set a target of 70% by 2030.
First sales have been completed, and TruScreen has already been used in 1800 women
program in Ladakh, NW India. The appointment of Renovate Biologicals now gives TruScreen
distribution capability in 3 of the 4 most populous countries in the world - China, India and
Indonesia. In addition to the distribution of TruScreen devices and SUS’s, TruScreen will also
commence distribution of Dalton Bio’s HPV IVD products in India – the first market agreement
to be made as part of the Dalton Bio strategic alliance.
Marty Dillon with the Renovate Biologicals team in
Hyderabad, India, August 2025.
25
Indonesia product registration completed and distributor
appointed, with commercial activity commenced in May
2025
INDONESIA
96 million
women of
screening age*
•Distributor Appointed: Following the completion of product registration,
TruScreen appointed a new Indonesian medical products distributor PT Mawar
Mitra Medika with commercial sales commenced in the world’s largest Islamic
nation, with a population spread over 14,000 islands. TruScreen offers an ideal
solution to providing screening to a geographically dispersed and diverse
population.
•AI presentation by CEO to MOH officials and KOL’s. In December 2024,
TruScreen presented to an AI Health webinar organised by Austrade and the
Indonesian Ministry of Health. TruScreen was one of only two companies
invited to present at this webinar, a recognition of our growing reputation as a
leader in AI innovative health technology with a particular relevance to
emerging economies.
26
Mexico second largest market in FY2025, accounting for 7% of
sales – with major private health insurer opportunity in play
MEXICO
46 million
women of
screening age*
Mexico has approximately 46 million women of screening age*, and cervical
cancer is the second most prevalent cancer amongst women.
HPVcentre.net estimates that 9,400 women are diagnosed annually with
cervical cancer with a very high mortality rate of 46% - 4,300 deaths.
Mexico’s national regulator, COFEPRIS, approved TruScreen for use in the
public health sector in FY2024, allowing TruScreen’s distributor Sunbird S.A
de C.V. to target the wider public health sector (70.9% of the population
access the public health system).
Mexico represented TruScreen’s second largest market after China in
FY2025, with new device installations continuing. TruScreen is currently
awaiting the outcome of a tender for the Instituto Mexicano del Seguro
Social (IMSS) the largest social security and health institution in Mexico for
the use of an opto electrical medical device for a cervical cancer screening
program.
27
African opportunities progress, with Zimbabwe PSP expected to
launch Q3 FY2026
ZIMBABWE
5 million
women of
screening age*
Zimbabwe
Since 2022, TruScreen has screened 14,000 women in the Masvingo Province, Zimbabwe,
through a public screening program managed by the Zimbabwe National AIDS Council (NAC)
and the Ministry of Health and Childcare. Formal re-validation is being undertaken by the
Ministry of Health, in order to expand the program. The clinical component of this re-validation
has bene completed and the analysis of results is to be completed in September 2025.
With limited pathology services and no nationwide recall system for follow-up appointments,
traditional screening methods such as cytology are not suitable for Zimbabwe’s population.
TruScreen, which enable a ‘see and treat’ screening service, is ideally suited to fill the gap in
Zimbabwe’s women healthcare system.
Eswatini
In May 2025, TruScreen and the Baylor Foundation Eswatini agree on the validation and initial
product training for TruScreen to be used for a pilot program to screen women in Eswatini
(formally Swaziland). Co-funding is being sought to replace the cancelled USAID funding
component.
ESWATINI
390,000
women of
screening age*
FY 2026 Strategy
29
Key Objectives for FY2026
Development
of Indian
market
•Successful execution of
PSPs in Vietnam, Zimbabwe
and Uzbekistan
•Create an operating
process for success
•Continue development of
the growing public cervical
cancer screening sales
channel with key NGOs and
Ministries of Health
•Build Indonesia sales
with PT Mawar Mitra
Medika
•Work with Intega to
deliver sales in
Singapore, Malaysia
and Thailand
•Build on initial India
sales
•Sign new market
agreements
Dalton
sales
Development
of ASEAN
market
PSP
success
Monthly
cash flow
positive
in Mar 26
•Build sales with
Renovate (TRU and
Dalton)
30
Key Enablers of Success
Strengthen
distributor
relationships
•Dalton relationship nurture,
including exploring opportunities
to grow TruScreen’s presence in
the Chinese market through
Dalton distribution network
•Public screening program
management
•MOH’s/NGO’s and Foundations
marketing
•Keep head count low
•Streamline internal
processes to create more
efficiencies in the day to day
- enable CEO to focus on
Sales more than admin
•Continue to seek SUS cost
improvements.
•Manufacturing and QA/Reg
software to lower consultant
costs.
•Investigate potential AI
contribution to efficiency
•Refine partner support
processes to deliver
maximum value – improve
marketing collateral and
sharing of information via
Quarterly distributor
meetings
•Refine pricing strategy to
suit market needs –
experiment with differential
pricing via selected support
programs
New BDM
hire
Marcomms
focus
Build
evidence
base and
international
recognition
•Website quality uplift and brand
refinement
•Social promotion of all activities
and successes in order to build
existing investor confidence
and attract new investors
•Collect marketing case studies
Continued
operational
cost-
effectiveness
•Get COGA paper published
and review interim data from
Uzbekistan and HPHA
•Build on International NGO
Recognition (WHO, UNITAID,
CHAI, COGA , CSCCP) to build
acceptance and remove
barriers to sale
HIRED AUGUST 2025
31
FY2026 active markets - at a glance (note: PSP = Public Screening Program)
Mexico
TRU sales
China:
TRU sales
(through SWXT and Dalton
distribution network)
India:
TRU sales
Dalton sales
Vietnam
PSP
Indonesia
TRU sales
Zimbabwe PSP
Uzbekistan
PSP
Eswatini PSP
Singapore, Malaysia,
Thailand, TRU sales
32
Focus on key growth provinces (Shandong,
Jiangsu,, Hunan, Zhejiang, Guangdong,
Guangxi) - Total popn 496m
Market expansion to continue with
China the key focus
Strengthen vertical Asian market from
Indonesia through China, and capitalise on
Indian distribution network
Build on International NGO Recognition (WHO,
UNITAID, CHAI, COGA , CSCCP) to build
acceptance and remove barriers to sale
Strengthen China Distribution
Capability via Strategic Partnership
with Dalton Bio
Target Govt and NGO funded
programs in addition to Zimbabwe,
Vietnam, Mexico and Uzbekistan
Growth Strategies
33
Developing strategic partnerships for
complementary woman’s health services
Focus on countries with limited or nil
cervical screening capability
Expand product portfolio to include Dalton
Bio HPV related IVD products DNA tests,
including HPV DNA tests and self sampling
Capitalise on global focus on AI
enabled cervical cancer technologies –
e.g. WHO
Reduce SUS and Device COGS and
increase profitability
Growth Strategies (cont.)
Revenue Outlook
35
FY25 Sales (Actual)FY26 Sales (Projection)
+64% YOY increase with increased diversification of revenue
NZ$ 1.71m
NZ$ 2.8m
36
TruScreen Expected Sales Increase FY26
Six key
provinces
targeted;
Expected sales
increase >15%
> NZ$ 1.75m
Public
Screening
Program to
resume;
Expected sales
> NZ$ 250k
Indonesia and
India sales
commence;
Expected sales
> NZ$ 250k
Dalton Bio IVD
HPV Test sales
to commence;
Expected sales
> NZ$ 200k
Ho Chi Minh
City Public
Screening
Program to
commence and
hospital sales
to increase;
Expected sales
> NZ$ 150k
Public
Screening to
commence;
Expected sales
> NZ$ 100k
Expected sales
> NZ$ 100k
NZ$ 2.8m
37
China
•FY26 expectations are a 13% uptick on FY25 sales
•Distributor SWXT have forecast sales of 40 Devices and 150,000 SUS for FY 26
•Expected to represent ~60% of Global Sales – a ~30% reduction in our
reliance on China sales (87% in FY25), mitigating a key business risk
Vietnam
FY26 sales expectations underpinned by two key factors:
•Ho Chi Minh City Public Screening Program commenced August 2025
•Agreements from 6 major Ho Chi Minh City hospitals following the
inclusion in the Vietnam National technical list and Prof Campion’s
presentation at Tu Duc Hospital in Jan 2025
India
FY26 forecast is based upon the contracted Yr 1 of sales to new distributor
Renovate Biologicals, for which the first order has already been placed
(August 2025)
>NZ$1.75m
>NZ$150k
>NZ$150k
38
Indonesia
FY26 forecast is based upon the contracted Year 1 of sales to new
distributor PT Mawar Mitra Medika, with first order already placed.
Uzbekistan
FY26 sales expectations underpinned by the commencement of 500-
patient pilot program in Karakalpakstan, Uzbekistan and potential for
expansion province by province.
Mexico
FY26 Forecast is based upon modest growth from FY25, building upon the
inclusion in the Mexico COFEPRIS approval for use in the public health
system in Mexico. Distributor Sunbird continues to engage with the newly
elected government officials to introduce TruScreen to the public health
sector, and are in advanced discussions with IMSS (the nation’s largest
public health insurer covering 38% of the population) for TruScreen
inclusion in their planned cervical cancer screening program
>NZ$100k
>NZ$100k
>NZ$100k
39
Zimbabwe
FY26 forecast is based upon the recommencement of public screening
programs in metropolitan and regional Zimbabwe, once Ministry of Health
Re-Validation has been finalised in September 2025.
TruScreen is working with distributor INTEGA to introduce TruScreen into
this region. Documents have been supplied to commence the registration of
TruScreen in these countries and a key opinion leader, Dr Quek Swee
Cheong has agreed to use TruScreen both in his private clinic and programs
conducted by him in India and Nepal.
Dalton Bio
FY26 sales expectations expected to account for ~7% of sales in FY26.
The first formal distribution agreement was signed in May 2025, for
TruScreen to distribute DaltonBio’s HPV detection products in India, and the
first order has already been placed.
Singapore,
Malaysia and
Thailand
>NZ$250k
>NZ$200k
The TruScreen Team
41
The Board
A Director and Chairman of a number of
listed ASX companies.
Previous Executive Director of sales and
distribution company Arthur Yates & Co
Limited, as well as Finance Director and
CFO of listed ASX retailers M. S. McLeod
Holdings Limited (Downtown Duty Free),
Galore Group Limited (Barbeques
Galore) and Brazin Limited (Bras N
Things, Sanity Music).
An experienced business executive and
has acted in a number of management
roles including 20 years as a senior
partner of KPMG and its predecessor
firms. Director of a number of private
companies across a broad range of
business activities including corporate
advisory, financial services, and funds
management. UNSW Commerce
graduate and Fellow of Chartered
Accountants Australia and New Zealand
Mr. Anthony Ho
B. Com (UNSW), CA, FAICD, FCIS, FGIA
Non-executive Chairman
Mr. Christopher Horn
B. Com (UNSW), FCA
Non-executive Independent Director
Experienced medical device engineer and
specialist in product R+D. Research and
Development Manager of the respiratory
humidification division of ASX/NZX-listed
Fisher & Paykel Healthcare. Brings 20
years’ experience in manufacturing,
working with suppliers across the globe.
His technical background in opto-
electronics and expertise in medical
device engineering is highly relevant to
TruScreen, who’s cervical cancer
screening device harnesses opto-
electronic signatures for screening results.
Dr. Dexter Cheung
B. Tech (Hons), M.Eng, PHD
Non-executive Director
MBA from the Macquarie Graduate School
of Management, and Bachelor of Nursing
from the Auckland Technical Institute.
More than 20 years’ experience working in
Asia and Pacific markets in Healthcare, in
sales, Marketing and leadership. Juliet was
the General Manager/Country Director for
Johnson & Johnson Medical in New
Zealand and has held various roles in
Johnson & Johnson in Australia and New
Zealand since 2012.
Ms. Juliet Hull
B.Nurse ATI, MBA MGSM
Non-executive Director
42
The Executive Team
Guy Robertson, B. Com (Hons.) CA
CFO & Company Secretary
Martin Dillon skilfully managed the company’s
listing on the NZX and oversees its strategic
vision. With over 30 years of commercial
experience, he has engaged with health and
regulatory authorities worldwide and held
numerous senior executive roles in private and
public companies in healthcare, advertising and
marketing.
Martin Dillon
CEO
Guy is an experienced finance executive, having held
the positions of Director, Company Secretary and
Chief Financial Officer of both private and ASX-listed
companies in Australia and Hong Kong. Guy held
senior roles in the Jardine Matheson Group of
Companies, including General Manager Finance of
Franklins Limited, Chief Operating Officer of Colliers
International Asia Pacific and Managing Director
(NSW) Jardine Lloyd Thompson.
Dr. Tan has extensive knowledge of the TruScreen
product and has been involved in establishing key
markets in China, Vietnam, Mexico and Indonesia.
Dr Tan is a qualified gynaecologist and has been
working withopto-electric screening technology for
over two decades and has led the
commercialisation of TruScreen since the
company’s establishment in 2013.He oversees
global commercial operations.
Dr Jerry Tan
B. Med (Clinical), M.Com, CPA
General Manager Commercial
43
Dr Carolina Velasquez gained her Bachelor of
Medicine and Surgery at Pontificia Universidad in
Colombia and her Masters in Clinical Research at
Monash University in Melbourne . She has 8 years
experience with Truscreen conducting operator
training and supervising clinical trials in Australia,
India, Zimbabwe, China, Vietnam, Indonesia and
Mexico. Dr Velasquez also co-ordinates the work of
both Truscreen's Medical Advisory Committee and
international Medical Experts Group.
Usha is an experienced engineer with a strong background in
process development and manufacturing, across medical
devices, printhead and semiconductor technologies. With a
strong focus on continuous improvement and lean
manufacturing, she has successfully transitioned
prototypes to scalable production and trained international
teams. She is passionate in delivering high quality product,
through engineering excellence. Usha oversees TruScreen
device production, supporting R&D projects and lead
Service & Repair and field issues globally
Dr Carolina Velasquez
MBBS, M ClinRes
Medical Affairs and Training Manager
Usharani Raji
B Eng (Hons), MSc
Production Manager
The Executive Team
44
Contact us
Guy Robertson
Chief Financial Officer
M – +61 407 983 270
E – guyrobertson@truscreen.com
TruScreen
Suite 3.03 18 Orion Rd
Lane Cove West NSW 2066
Australia
www.truscreen.com
Martin Dillon
CEO
M - +61 449 115 065
E – martindillon@truscreen.com
TruScreen
Suite 3.03 18 Orion Rd
Lane Cove West NSW 2066
Australia
www.truscreen.com
45
*Women aged 15-64 years as detailed in the World Fact Book : https://www.cia.gov/the-world-
factbook/
1
Xiao, F., Sui, L. Evaluation of a real-time optoelectronic method for the detection of cervical
intraepithelial neoplasia and cervical cancer in patients with different transformation zone
types.Sci Rep14, 27220 (2024). https://doi.org/10.1038/s41598-024-78773-w
2
Alhudhud, M., Maqsood, S., Hussein, M.E.et al.Cervical cancer screening: a comparative
study of TruScreen vs. Pap Smear.BMC Women's Health25, 198 (2025).
https://doi.org/10.1186/s12905-025-03733-z
3
Gao S, Tian Y, Song F, Wang J. Assessment of the Real-Time Photoelectric Detection Device
(TruScreen) in Screening for Cervical Precancerous Lesions in Middle-Aged Women: An
Observational Study.Risk Manag Healthc Policy. 2025;18:1783-1791
https://doi.org/10.2147/RMHP.S524022
References
46
Disclaimers
This presentation has been prepared by TruScreen Group Limited (the “Company”) and is dated 25 August 2023. This presentation contains summary information about the Company
and its activities which is current as at the date of this presentation. The information in this presentation is of a general nature and does not purport to be complete nor does it contain
all the information which a prospective investor may require in evaluating a possible investment in the Company. This presentation should be read in conjunction with the Company’s
annual report, market releases and other periodic and continuous disclosure announcements, which are available at www.nzx.com. This presentation does not constitute an offer,
advertisement or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer, advertisement or invitation.
Not financial product advice
This presentation is for information purposes only and is not financial or investment advice or a recommendation to acquire the Company’s securities, and has been prepared without
taking into account the objectives, financial situation or needs of prospective investors. Before making an investment decision, prospective investors should consider the
appropriateness of the information having regard to their own objectives, financial situation and needs and consult a financial adviser, solicitor, accountant or other professional
adviser if necessary.
Past performance
Any past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. No
representations or warranties are made as to the accuracy or completeness of such information.
Future performance
This presentation includes certain “forward-looking statements” about the Company and the environment in which the Company operates. Forward-looking information is inherently
uncertain and subject to contingencies, known and unknown risks and uncertainties and other factors, many of which are outside of the Company’s control, and may involve
significant elements of subjective judgement and assumptions as to future events which may or may not be correct. A number of important factors could cause actual results or
performance to differ materially from any forward-looking statements. No assurance can be given that actual outcomes or performance will not materially differ from the forward-
looking statements. The forward-looking statements are based on information available to the Company as at the date of this presentation. Except as required by law or regulation
(including the Listing Rules), the Company undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results
or otherwise.
Appendix:
48
2025 & BeyondBuilding for the Future 2020-2024
Building the Fundamentals 2014 - 2020
The TruScreen Journey
•China Growth continues
•Distribution of Dalton Bio IVD HPV DNA
products
•Vietnam HPHA program targets 260,000
women, Uzbekistan and Zimbabwe screening
programs to commence
•Indonesia and ASEAN commence
commercial use
•Global focus on AI boosts recognition of
TruScreen
2018 Oct
523% sales
growth in H1
2019 May
Recognition by
World Health
Organization
2020 Jan
ASX Listing
2014Nov
Listingon NZAX
2023-24
•COGA Blue Book and CSCCP Guidelines include TruScreen
•UNITAID recognises TruScreen’s value for Cervical Cancer screening
•WHO invited TruScreen to participate in Key AI meeting for cervical cancer screening
•Vietnam – HPHA large scale screening MOU signed
2018 Jul
Comence large scale
pilot programs in China
with CDC and COG
2018 Dec
Migration to NZX
2022
•Managing COVID-19 challenges
•Cost reduction
•Manufacturing and business
development in China
•Completion of major COGA study
•Strengthen distributor arrangement in
Vietnam
2017 Dec
CFDA (NMPA)
approval for
second generation
device
49
Handheld device (HHD)
Intelligent Cradle
Single Use Sensor (SUS)
•Enabled by AI, TruScreen provides an accurate, real time cervical cancer screening solution
•Each TruScreen examination takes one to two minutes to produce results, compared to
conventional Pap tests which can take days, weeks, or even months in some countries, for a
result to be returned.
50
a pen-like wand covered by a
Single Use Sensor (SUS) is used
to gently touch multiple spots on
the cervix. The SUS contains a
precision lens and electrodes
which interfaces with the cervix.
It sends and picks up low level
electrical and optical signals (14
readings per second) from the
cervical tissue.
1
How it works
51
The TruScreen Handheld Device (HHD) then applies
an integrated AI-enabled algorithm to analyse these
signals and compares them to an integrated
database of 2,000 patients drawn from a wide range
of geographic and ethnic backgrounds with differing
histological diagnoses.
This identifies the presence of abnormal (cancerous
and pre-cancerous) cells in the cervix and provides
physicians with real-time results.
2
How it works
52
✓Clinicians/physicians are able to immediately plan
appropriate patient care
✓Device has an expected life span of 5–7 years
✓Disposable SUS is used once per test per patient - ensures
there is no chance of cross-infection between patients
✓The entire patient data collection and analysis is self-
checked and controlled. No tissue sample needs to be
taken. These measures ensure that the results are reliable
and consistent, and that the examination is painless and
safe
✓TruScreen has been used on over 1 million women and
there has never been a single adverse event reported
53
•TruScreen specificity surpassed Liquid Based Cytology (LBC) and hrHPV
•TruScreen determined to be a simple, effective and rapid real-time cervical cancer screening method
•TruScreen determined to be an appropriate primary cervical cancer screening tool in regions with high morbidity and mortality to cervical cancer
•Also highlighted the superiority of TruScreen against alternative screening methods as well as the potential benefits of a TruScreen-HPV co-
testing. The size of the COGA study, which was TruScreen’s largest clinical evaluation to date, lends extra significance to its results and broad
conclusions.
TruScreen’s
sensitivity
was well above that for LBC
(87.5% v’s 66.5%), with a high
degree of statistical
significance (p<0.001).
TruScreen’s
specificity
(88.4%) was higher than both
LBC (86.3%) and hrHPV
testing (78.3%) (also at
p<0.001).
The sensitivity of TruScreen-hrHPV co-
testing (carrying out with multiple types
of screening tests at the same time, as
opposed to a single type) was higher than
that of LBC-hrHPV co-testing,
98.4% vs 95.9%
(statistically significant at p=0.006).
COGA Trial (n= 15,661, 2018-2021)
These results were presented at a research conference organised by ASCCP (American Society of Colposcopy and Cervical Pathology) in San Diego, USA in 2021.
The COGA trial manuscript is currently being reviewed for publishing in the Journal of the American Medical Association (JAMA).
54
Why TruScreen?
TruscreenLiquid Based Cytology (LBC)HPV DNA
Real time results
Low infrastructure
costs
Strong clinical results
Objective results
Low training threshold
Portable
No cell or tissue
samples taken
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.