DOSE!

DOSE.DOSE

Monitor your glucose.

DOSE

THE DOSE TEAM

Dose aims to improve the lives of those affected by type 2 diabetes by offering completely personalised health services and non-invasive

blood glucose level measurements.

DOSE

Free

Premium

TECHNOLOGY

DOSE

Key Players:Diabetes patients

NHS Government

Private Hospitals

Meet their Needs:

Potential diabeticsIBM

UC San Diego Media

Show Considerati

on: Novartis UK Ltd.

GlaxoSmithKline plc. Astra Zeneca UK

Ltd.

Least Important: General public

STRATEGY

Differentiation

Licensing B2B

TIMELINE

-2Acquire Licenses

Funding

-1Prototype

Regulatory Approval

0Launch

1Business Relation

Development

2Product

Extension

MARKETING

RISK MANAGEMENT

Risks Assumptions Dependencies

FINANCES

2015 2016 2017 2018 2019 2020 20210.00

50.00

100.00

150.00

200.00

250.00

300.00

350.00

400.00

450.00

Relative Market Size (UK)

Market Size (GBP millions) Company Sales (GBP millions)

Market Share - 3% to 5.7%

Dose's Sales - 9m to 22.5m

2016 2017 2018 2019 2020 20210.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

Relative Growth Rate (UK)

Company Growth Rate Market Growth Rate

Size effect narrows

2015.5 2016 2016.5 2017 2017.5 2018 2018.5 2019 2019.5 2020 2020.50.00

5.00

10.00

15.00

20.00

25.00 Revenue Profit Free Cash Flow

Profit - 1.69m to 6.15m

Free Cash Flow - 0.22m to 5.7m

Profitability

Discounted Value (£m) 55.79Adding Initial Cash (£m) 0.73Firm Value (£m) 56.52Subtracting Total Debt 0.13Implied Equity Value (£m) 56.40

Valuation and Sensitivity

Sensitivity of Dose's Valuation to WACC and Long Term FCF Growth Rate   WACC   3% 4% 5% 6% 7% 8% 9% 10% 11% 12%

Long Term FCF Growth

Rate

1% 79.63 52.17 38.47 30.27 24.82 20.93 18.03 15.79 13.99 12.542% 156.68 77.00 50.48 37.24 29.31 24.04 20.29 17.49 15.31 13.583% nmf 151.49 74.49 48.85 36.05 28.39 23.30 19.67 16.96 14.864% nmf nmf 146.52 72.08 47.29 34.92 27.51 22.59 19.08 16.465% nmf nmf nmf 141.76 69.77 45.80 33.83 26.67 21.90 18.516% nmf nmf nmf nmf 137.20 67.56 44.37 32.79 25.86 21.247% nmf nmf nmf nmf nmf 132.83 65.43 42.99 31.79 25.088% nmf nmf nmf nmf nmf nmf 128.63 63.39 41.67 30.829% nmf nmf nmf nmf nmf nmf nmf 124.60 61.44 40.40

10% nmf nmf nmf nmf nmf nmf nmf nmf 120.74 59.56

2016

2018

2019

0 1 2 3 4 5 6 7 8

Private Market Equity Placement Venture Capital Bank Loan

Millions (GBP)

Funding

Bank Loan - 1.96m

Venture Capital - 7.5m

Private Equity - 0.5m

Cumulative - 9.96m

£170,000

DOSEMonitor your glucose.