SVREW SaverOne 2014 Ltd

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of June 2024 (Report No. 1)

 

Commission file number: 001-41387

 

 

SaverOne 2014 Ltd.

(Translation of registrant’s name into English)

 

Em Hamoshavot Rd. 94

Petah Tikvah, Israel

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒         Form 40-F ☐ 

 

 

 

In accordance with Regulation FD, SaverOne 2014 Ltd. (the “Company”) hereby furnishes the Investor Presentation the Company will present to analysts and investors on or after June 3, 2024. The slides are attached hereto as Exhibit 99.1 and will be available on the Company’s website at https://saver.one.

 

The information contained in the Investor Presentation is summary information that is intended to be considered in the context of the Company’s Securities and Exchange Commission (“SEC”) filings and other public announcements that the Company may make, by press release or otherwise, from time to time. The presentation does not provide information concerning the financial condition of the Company. To the extent that estimates or targets have been provided concerning 2024 or any subsequent years, these reflect statements that have previously been made in the Company’s securities filings. The Company undertakes no duty or obligation to publicly update or revise the information contained in this presentation, although it may do so from time to time. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.

 

The information furnished, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		SaverOne 2014 Ltd. Presentation

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: June 3, 2024	SAVERONE 2014 LTD.
	By:	/s/ Ori Gilboa
	Name:	Ori Gilboa
	Title:	Chief Executive Officer

 

 

3

 

Exhibit 99.1

 

VRU solution – pitch deck Making roads safer for drivers, passengers, and pedestrians

Legal notice 2 This investor deck contains forward - looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . All statements other than statements of historical fact in this deck are forward - looking statements, including but not limited to, the ability of SaverOne’s technology to substantially improve the safety of drivers ; SaverOne’s planned level of revenues and capital expenditures ; SaverOne’s ability to market and sell its products ; SaverOne’s plans to continue to invest in research and development to develop technology for both existing and new products ; SaverOne’s intention to advance its technologies and commercialization efforts ; SaverOne’s plan to seek patent, trademark and other intellectual property rights for our products and technologies in the United States and internationally, as well as its ability to maintain and protect the validity of its currently held intellectual property rights ; SaverOne’s expectations regarding future changes in its cost of revenues and our operating expenses ; interpretations of current laws and the passage of future laws ; acceptance of SaverOne’s business model ; the ability to correctly identify and enter new markets ; the impact of competition and new technologies ; general market, political and economic conditions in the countries in which SaverOne operates ; projected capital expenditures and liquidity ; SaverOne’s intention to retain key employees, and our belief that we maintain good relations with all of its employees ; any resurgence of the COVID - 19 pandemic and its impact on SaverOne’s business and industry ; security, political and economic instability in the Middle East that could harm SaverOne’s business, including due to the current war between Israel and Hamas ; and other risks and uncertainties, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20 - F filed with the U . S . Securities and Exchange Commission (the “SEC”) on March 25 , 2024 and in subsequent filings with the SEC . The Company's filings are available on its website at www . sec . gov . These forward - looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry . The Company undertakes no obligation to update forward - looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law . Although the Company believes that the expectations expressed in these forward - looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results .

Israel Headquarters 2014 Year Founded SVRE Nasdaq & TASE listed since 2020/22 50+ Employees 100+ A c ti v e C u s t o m e r s 20+ diverse IP Portfolio registered & pending We are SaverOne 3 3

Focus of this pitch In - cabin driver distraction prevention Driver safety solution designed to combat distracted driving by identifying and monitoring cell phones located in the driver’s vicinity and selectively blocking distracting apps Vulnerable Road User safety solution Detection & localization of Vulnerable Road Users (VRUs) outside the vehicle even in non - line - of - sight (NLOS) and adverse weather conditions through mobile signals 2 products Our mission is to make roads safer for drivers, passengers, and pedestrians alike – through cellular network - based technological solutions 4

Our experienced leadership team V P R & D C T O Senior Manager D i r e ct o r o f Finance D i sc l osu r e & Reporting controller Ori Gilboa Chief Executive Officer Yossi Cohen Chief Operating Officer & C o - Found e r Yoav Zilber Head of Business Development Aviram Meidan V i c e P res i d e n t Research & Development Omri Hagai Chief Financial Officer Jac o b T e n e nbo i m Chairman 25+ years in automotive & retail industries 20 + yea r s i n l ead i ng g l obal ope r a t i o n s in h i g h - t e c h a r ea s 20+ years in international marketing & business development 20+ years in automotive p r odu ct deve l op m en t 1 0 + y ea r s o f e x pe r i en c e in financial management of public companies 35+ years in technology management & entrepreneurship CEO Senior Manager of Program Management & Business CEO Operations M anage r V P B us i ne ss Dev e l op m en t Africa C E O Among his exits are: 5

6 Vulnerable road users (VRU) require special attention & protection Non - motorised road users such as pedestrians (especially children), cyclists, motor - cyclists and persons with disabilities/ reduced mobility & orientation are unprotected in case of collisions Source: European commission

7 Despite developments in vehicle safety, vulnerable road users (VRUs) are still at risk today Distribution of deaths by road user type, globally 2 3 % 3 0 % Powered 2/3 wheelers 21% 6% Cyclist Pedestrians 4 - w hee l e r s Others 1 21% ~1.2mn road traffic fatalities p.a. Source: Global status report on road safety 2023 – WHO, press search, Destatis 1. Occupants of vehicles carrying more than 10 people, heavy goods vehicles and “other” users 2. Average cost of road - traffic injuries in Germany 3. ~160k VRU injuries in road traffic in Germany 2019 VRUs account for ~50% of fatalities Every 53 seconds a VRU dies on the road Already slight injuries cost ~6.3k USD per injury 2 Serious injuries cost ~140k USD per injury 2 ~5bn USD total injury cost in Germany annually 3

8 Existing sensors today… … cannot detect VRUs in non - line - of - sight Detection of potential VRU is blocked by bus stop – no information about VRU and potential collision can be provided to driver While the industry is aware of the issue, current solutions cannot detect VRUs in non - line - of - sight, posing a safety challenge L i D A R R a d ar Camera Range, night operation, Distance detection, classifications of objects No NLOS 1 detection, weather impact, no color detection Velocity detection, night operation, weather resistance Very limited NLOS 1 detection, no color detection, limited classification Color detection, ob j e c t c l a ss i f i c a t i o n No NLOS 1 detection, weather impact, limited range detection D e t e c ti o n o f V R U s i s a b i g p r o b l e m i n b a d w e a t h e r a n d d a r k n e s s – c u rr e n t s e n s o r t e c hn o l o g y c a nn o t address these issues sufficiently F o rm e r V P , H e a d o f L i DAR Se g m e n t a t T i e r - 1 sup p l i e r 1. Non - line - of - sight

9 W a t c h a v i de o of ho w i t w o r k s - 1 0 7 . 7 d Bm - 5 7 . 4 d Bm RF ray power scale index A ca r a pp r o ac h e s t h e 1 crosswalk Pedestrian at bus stop, in non - line - of - sight of vehicle 2 6 SaverOne algorithm issues information to vehicle ECU in case of potential collision RF signals captured by S a v e r O n e A D AS s en s o r 4 Our radiofrequency - based VRU solution solves this issue & makes roads safer for everyone RF signals from pedestrian’s phone pass through bus stop 3 5 SaverOne algorithm calculates vector of movement and speed of pedestrian

Our radiofrequency - based sensor could even detect rear overtaking vehicles or VRUs in the future 1 - 0 1 0 7 . 7 d Bm - 5 7 . 4 d Bm RF ray power scale index A tr uck cha n ges l anes to pass another truck in adverse weather 1 SaverOne algorithm calculates vector information to vehicle ECU 4 of movement of truck and issues Adverse weather block line of sight 2 co nd iti on s & tr a i l er RF signals captured by Saver O ne ADAS senso r 3 Optional for truck OEM

The VRU solution can specifically detect VRUs around corners or hidden by obstacles – and in the future, also rear blindspots Blind spot detection Detection of cars and VRUs in blind - spots (especially relevant for trucks or in poor weather/ lighting) VRUs around corners Pedestrian approaching road from around the corner, not visible to the driver and not detectable by other sensors VRUs behind obstacles Pedestrian emerging between 2 parked cars, not visible to the driver and only detectable by strategically low or highly placed LiDAR systems Main use cases Future use case 11

No other sensor set - up today can do this – our solution is required to detect VRUs in non - line - of - sight Individual sensors L i D A R Rada r Ca m e ra R F VR U so l u t i o n Radar + L i D A R + camera Safety use case Radar + ca m e ra + Rada r + camera VRU in non - line - of - sight 1 1 1 Relevant sensor combinations Radar + L i D A R + ca m e ra + Rear overtaking vehicles 2 The VRU sensor complements the existing ADAS sensor suite to detect VRUs in bad weather & lighting and outside - line - of - sight situations U s e c a s e co v er e d u n d er mo s t co n d i ti o n s Co v er e d better v s . ot h er combi n a ti o n s N ot ( a d e q u ately) covered 1. Only basic detection of (moving) VRUs between cars through low - positioned sensors 2. Especially relevant for trucks, given limited availability of rear sensors and large trailers 12

The VRU solution in a nutshell Technical details Detection, classification, localization, tracking of VRUs and notification of driver in case of potential collision Reception and analysis of radiofrequency signals 1 Operating range up to 150 meters Capacity Up to 50 phones High accuracy with <1 meter error 2 Error of algorithm in predicting pedestrian position depends on distance from the car (20 - 50m) and obstacle between pedestrian and car (glass, concrete) – depicted relative to body size, details in appendix Alternative 1 13 High Accuracy: error <1 meter 1. Cellular & Wifi supported (700 - 3,800 MHz, 5800 - 5900 MHz BLE) 2. Simulation conducted in Wireless Insite

The VRU solution in a nutshell Technical details Detection, classification, localization, tracking of VRUs and notification of driver in case of potential collision Reception and analysis of radiofrequency signals 1 Operating range up to 150 meters Capacity Up to 50 phones High accuracy with <1 meter error 2 Alternative 2 Error of algorithm in predicting pedestrian position depends on distance from car (20 - 50m) and obstacle between pedestrian and car (glass, concrete) – depicted relative to body size, details in appendix High Accuracy: error <1 meter ~ 0.1m ~ 0.4m ~ 0 . 8 m Location prediction of pedestrian with <1 meter error 1. Cellular & Wifi supported (700 - 3,800 MHz, 5800 - 5900 MHz BLE) 2. Simulation conducted in Wireless Insite 14

15 Our VRU solution addresses a new market of ~ 1.5 bn USD in 2035 2035 0 .4 1 .5 +54% p.a. 2035 TAM 2 consists of…. Source: Market model, expert survey, expert interviews Global automotive RF - sensor market for VRU detection 1 , in USDbn ~ 31m passenger cars light commercial vehicles tr u cks ~ 3 .7 m ~1 . 5m ~ 0 .2 m bu ss e s 0.1 2028 2030 1. Including passenger cars, light commercial vehicles, truck, busses, robo - taxis 2. TAM = Total addressable market

16 We address core pain points of our customers Core value proposition Passenger car OEMs S tro n g a pp l i c a bi l i ty f or c u s tomer L i mited a pp l i c a bi l i ty f or c u s tomer N o a pp l i c a bi l i ty Truck & Bus OEMs Robo - taxis Enhanced safety, improving value and selling proposition Potential improved safety ratings/ regulatory benefits 1 Reduced risk of liability claims 2 Lower insurance cost Optimized vehicle utilization (driving speed of AD 3 potentially limited due to safety) Projected take rates from expert survey 4 Entry 10 - 30% 40 - 80% ~ 80% V olu m e 20 - 40 % Pr e m iu m 50 - 80% 1. If testing procedures and/or scoring criteria are adjusted 2. In autonomous driving modes 3. AD = Autonomous Driving 4. Based on Expert interview with n=24 experts

17 Target customers show a high willingness to pay for a new sensor technology like ours Source: Expert survey with n = 24 Premium OEM Mass - market OEM Tier - 1 s u ppl ier Truck company Bus company R o b o - taxi 1 0 0 U S D 2 0 0 U S D “ If there was a working VRU detection sensor, there would for sure be a willingness to pay, I would estimate ~ 50 USD ” – Former Chief Safety Officer at premium OEM “ If performance, accuracy and reliability are proven, I believe OEMs would be willing to pay ~ 100 EUR for such a sensor” – Former VP, Head of LiDAR Segment at Tier - 1 supplier Willingness to pay by customer type, in USD

18 The VRU solution could save insurance claim costs of up to ~ 260+ USD over the lifetime of a passenger car 7x Potential value of up to ~ 1,875 USD on average for taxis generally given higher utilization and even further upside for robotaxis due to no breaks required 3 0 x Potential value of up to ~8,400 USD on average in the US given higher cost for VRU accidents with large tail towards high - end (about 1/3 of accidents with costs >600k USD) e.g., ~8 - 12mn USD settlement with a pedestrian hit by robotaxi Potential upsides ~260 U S D Insurance claim cost could be saved on average over the lifetime of a vehicle from avoidance of collisions with VRUs 0.064 Collision claims per vehicle p.a. 1 0.74% Claims in v ol v in g V R U 12y Over li f e t i m e 45.3k A v e r ag e s pen d per claim 1. p.a. = per annum Note: Rounding of individual numbers Source: Global tier - 1 Management Consultancy

There is no direct competition – our solution is the only one that protects VRUs even if they do not have an app W o r ks w i t ho u t a n a pp f o r t he VR U No i n s t a ll a t i o n r e q u i r e d o n VR U - e n d e . g . , s p eci f i c a pp , m a p s apps, or firmware package 1 Independent of installation of specific app o r s o f t w a r e a t V R U - e n d A dd - o n i n te g r a t i on i n to l o c a ti o n - b a s e d 3 rd party apps In t e g r a t e d i n t o v e hi c l e saf e t y features D ee p i n te g r a t i on w i th o th e r AD A S sensors Phone - based warning function, potentially w i th ADAS i n t e g r a ti o n 2 C o u l d b e i n te g r a te d i n to specific ADAS features e . g ., a u t o m a ti c emergency braking P h o n e - b a s e d w a r n i n g function only (no A DAS i n t e g r a ti o n ) Pass i v e r e c e p t i o n o f s i gn a l s Passive radio - frequency signal detection A c ti v e V2 X a p p - b a s e d communication I n d e p e n d e n t o f a ctiv e communication between two media A ctiv e V 2 X a pp - b a s e d communication On t r a c k t o s c a l e C u rr e n t l y i n M VP development P i l o t p h a s e , te s t i n g ended in 2020 due to l a ck o f d at a / u s e r coverage 19 Active development with tangible plan for strong roll - out L o w s c a l e , g i v e n r e l i a n ce o n SD K 3 integration 1. Based on radio transmitter and receiver 2. Published as communication with engine ECU 3. Software development kit Co m p e t i t or 1 Com p e t i t o r 2

We have strong ambitions and estimate a revenue potential of >480m USD by 2035 11m Sensors sold 2035 2028 First revenues 1 ~ 160 ~ 485 +49% p.a. ~30% Gross margin 2035 51M NPV 3 , in USD Business plan Revenues , in USDm 2030 Profitability reached 2 20 ~ 30 2028 30 2035 1. From premium passenger cars and commercial vehicles 2. Measured in EBITDA 3. Based on cash flows until 2035, excl. terminal value. WACC of 8.5% used for discounting cashflows ~12% EBITDA margin 2035

We will spin - off the VRU business into a separate entity – and are looking for a financial investment to support product development Strategic partner 1 21 N e w Co VRU 1. Will contribute technical expertise (e.g., chip design, sourcing, industrialization, manufacturing, logistics), commercial expertise (e.g., OEM relationships, sales channels, automotive grade process excellence), financing

We are ready to start, and will get the product MVP to customers in 2025 Hardware production with a partner Q1 2025 Demo & testing mid - 2025 MVP demo to customers Project initiation Si m ulation First customer feedback This approach seems very interesting I could imagine installing the VRU solution in our autonomous L4 trucks 1 We have already achieved a lot… … and will continue at full speed 22 1. Expert interview

We need ~ 35m USD to develop the commercial VRU solution and win first customers 4 2 23 F und i ng need in USDm Marketing & Sales General and administrative cost Capital need until product commercialization 2028 35 • Business development and first sales activities • Project management • Build - up of finance, accounting, HR & admin  PoC with OEM to generate demand  Initial review of technology  Development of MVP with tier - 1  Testing of technology  Chip development based on existing chip design of a partner  Develop manufacturing specifications Product development and R&D 29

24 Investment highlights in a nutshell 1.5bn USD Market opportunity 1 st ADAS sensor to look beyond line - of - sight >485m USD Revenue opportunity 2035 24 ~30bn USD Annual economic cost of VRU injuries in US & EU 1 >50 USD Willingness to pay by OEM customers 2 ~59m USD EBITDA opportunity 2035 Sources: NHTSA (2019), Destatis (2022), BASt (2024) 1. Based on VRU injuries and related economic cost in road traffic in Germany 2022 (extrapolated to EU) and US 2. As of expert survey

A P P E NDIX 25

Our product is addressing the market for active safety and ADAS/AD Passive Safety Active Safety SAE levels 1 2 2 + 3 4 5 Examples of systems Occupants Airbag Adaptive Cruise Control Automatic emergency braking system Car - to - Car Lane Centering Mitigation of impact of collisions for Avoidance of collisions occupants and VRUs n/a 0 Enhanced comfort Main ob jec t i v e Examples of systems VRU Chassis construction to reduce impact L2+ or L4 in urban environments Automatic emergency braking system Cyclist & Pedestrian Focus of our VRU solution ADAS/Autonomous Driving (AD) 26 Driver Distraction Monitoring Blind Spot Detection Electronic stability program Safety belt Chassis construction Fuel Pump Shut - Off Switch eCall system 1 1. For both VRUs and occupants

27 Our VRU solution addresses the most important unsolved problems in vehicle safety Largest unsolved problems in vehicle safety today, (5 being highest) Road infrastructure C y bersecu r i t y E m e r gen cy R esponse 3.1 Driver distraction and inattention 2.8 Safety assist (active safety and ADAS / AD) 2.2 Vulnerable road user protection 1.9 Subs t anc e - i m pa i r ed d r i v i ng 1.8 Driver and passenger protection 1 . 5 0 . 9 0 . 4 Source: Expert survey with n = 24 Our VRU solution addresses the most important problems in vehicle safety through: Improving existing ADAS systems & Providing resilient VRU detection

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