Attracting Talent & Driving Growth in Wisconsin

Transcription

1 Attracting Talent & Driving Growth in Wisconsin v 2 nd Annual Future Wisconsin Economic Summit Kevin Conroy, Chairman & CEO December 9, 2015

2 WMC Foundation: Second Annual Future Wisconsin Economic Summit Why is Wisconsin s high-tech industry critical to our growth? Exact Sciences progress and growth since 2009 Importance of entrepreneurship in Wisconsin Pillars of Wisconsin s long-term prosperity 2

3 Exact Sciences' progress and growth since

4 OUR FIRST MISSION To work with patients, payers and providers to help play a role in the eradication of colorectal cancer Wendy Finch Jamie Truesdell 4

5 Our challenge: eradicating the second deadliest cancer 158,040 #2 cancer killer new diagnoses in ,540 40,560 40,730 49,700 $20B 15,590 Projected annual U.S. spending on colon cancer treatment Esophageal Prostate Pancreas Breast Colorectal Lung Annual US cancer mortality Sources: ACS Cancer Facts & Figures 2015; all figures annual J Natl Cancer Inst. 2011; 103:1-12 (Mariotto) 5

6 Why is colon cancer the most preventable cancer? 10+ years Pre-cancerous polyp Four stages of colon cancer Sources: J Natl Cancer Inst. 2009; 101: (Itzkowitz) N Engl J Med 2012;366: (Zauber); Gastro 1997;112: (Winawer) 6

7 Detecting colorectal cancer early is important Diagnosed in Stages I or II Diagnosed in Stage IV 9 out of 10 Survive 5 years 1 out of 10 Survive 5 years Source: SEER

8 America s stagnated colon cancer screening rate 80.0% 80.0% 50.0% 52.1% 58.6% 58.2%

9 A cutting edge non-invasive test with a lab focused on compliance Cologuard at-home sdna testing Exact Sciences Labs compliance program 7 DNA mutation 2 DNA methylation 1 Hemoglobin + 1 Beta-actin 9

10 Cologuard s performance in a 10,000 patient study Source: Imperiale TF et al. N Engl J Med. 2014;370(14):

11 Developing a world-class lab to deliver results Capable of processing more than 1 million Cologuard tests per year 11

12 Cologuard s comprehensive screening program driving compliance Physician orders Customer outreach Cologuard completed Physician provided result Patient 73% Compliance* *Patient compliance rate: number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to September 30,

13 Cologuard s U.S. market opportunity 80M people $3B U.S. opportunity 13

14 Physicians ordering Cologuard continues expanding 21,000 ~500 new physicians order Cologuard weekly 14,700 4,100 8,300 Q Q Q Q Aug 2014 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 14

15 Completed Cologuard tests continues growing >240K 34K >42K 21K 4K 11K Guidance Guidance Q Q Q Q Q Completed Cologuard Tests 15

16 Increasing America s screening population (ages 50-74) 49% screened with colonoscopy 9% screened only with FIT/FOBT 42% never screened before Screening history of Cologuard users Source: Colorectal Cancer Screening with Multi-target stool DNA-based Testing Previous Screening History of the Initial Patient Cohort, poster presented at American College of Gastroenterology's Annual Scientific Meeting (ACG 2015), Oct ,

17 Building and retaining high-quality talent Exact Sciences employee growth since moving to Madison

18 Broad skillset across Wisconsin-based team Breakdown of Exact Sciences 400+ team members by function Customer care center 90 Lab 80 Operations & manufacturing 50 Finance, accounting & billing 50 Sales & marketing 45 Research & development 65 18

19 Mission-driven, engaged team 2015 employee engagement index 1 : ranks in line with Gallup s World Class Clients Exact Sciences percentile rank compared to Gallup database The mission or purpose of the company makes me feel my job is important My team members are committed to doing quality work 0% This last year, I have had opportunities at work to learn and grow 99th 98th 92nd 0% 100% 0% 100% 0% 100% Source: Results of the 2015 Great Workplace Award Recipients & participation in the Gallup Q12 Engagement Survey (2015) 19

20 Importance of entrepreneurship in Wisconsin 20

21 Wisconsin s aging population and workforce Projecting Wisconsin Population by Age Source: U.S. Census Bureau, Year American Community Survey Estimation 21

22 Wisconsin s declining per capita income Median household income falling $56,269 $51, Source: U.S. Census Bureau Data 22

23 New firms are largest drivers of America s job creation Source: Kaufman Foundation 23

24 Startups create more jobs than all other companies 24

25 But the share of new businesses is declining Startups as a percentage of total Source: U.S. Census Bureau; fivethirtyeight.com 25

26 Wisconsin ranks last for startup activity Only 100 new ventures per 100,000 residents 50th Kauffman Foundation 2015 Ranking Source: Kaufman Foundation 26

27 Wisconsin Minnesota Population 5.7M 5.4M Per capita income (2013) $52,413 $59,836 Gross state production (GSP) $282B $312B Percentage of college graduates 25.6% 32.5% Venture capital funding ( ) $396M $1.4B Sources: US Census Bureau 2014 U.S. Bureau of Economic Analysis (BEA) *2015 projection from the nonpartisan Legislative Fiscal Bureau 27

28 A successful prototype... with room for improvement Entrepreneurs 28

29 Pillars of Wisconsin s long-term prosperity Innovation Enhancing our culture of entrepreneurship Building on our high-tech research capabilities Strengthening UW System & industry collaboration Trade Talent Infrastructure Developing strong connection to global markets Focusing on the China, India and Brazil Enhancing foreign direct investment Aligning education with employers skill needs Focusing on K-12 science, technology, engineering and math (STEM) Modernizing our roads, bridges and rail system Expanding broadband access statewide Strengthening communities for economic growth 29

30 30