Standard Biotools Inc. · NASDAQ:LAB
Standard Biotools — Investor Presentation (September 2024)
25 slides from Standard Biotools's investor presentation, Sep 5, 2024
Slide 1: Unleashing Tools to Accelerate Breakthroughs in Human Health
Standard BioTools 1 Unleashing Tools to Accelerate Breakthroughs in Human Health INVESTOR PRESENTATION September 2024
Slide 2: Legal Information: Forward-looking statements
Legal Information 2 Forward-looking statements This presentation contains forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than sta
Slide 3: Executing on our Vision
Executing on our Vision Standard BioTools 3 Leading Proteomics and Multi-omics Platforms High content solutions in serum proteomics spatial proteomics and single cell proteomics Building a Diversified Life Science Tools Industry Leader $170-175MM 2024 Revenue Forecast Cash, cash equivalents, and inv
Slide 4: Management team
Standard BioTools 4 Michael Egholm, PhD Chief Executive Officer Experience: • Danaher • Pall • Roche Alex Kim Chief Operating Officer & Interim Chief Financial Officer Experience: • Danaher • Pall • Milliken Sean Mackay Chief Business Officer Experience: • IsoPlexis • PhenomeX • Lazard Betsy Jensen
Slide 5: Our Four Proteomic & Multi-Omic Platforms Uniquely Scale
Our Four Proteomic & Multi-Omic Platforms Uniquely Scale Standard BioTools 5 PLASMA PROTEOMICS SINGLE CELL PROTEOMICS SPATIAL PROTEOMICS Our Solutions Cover the Four Sources of Critical Biomarker Information GENOMICS/ MULTIOMICS Our M&A Strategy has delivered four complementary platforms, indexed to
Slide 6: Product Leadership and Growth Drivers
Standard BioTools Product Leadership and Growth Drivers Standard BioTools 6 SOMASCAN PLASMA PROTEOME 800+ Clinical Publications CYTOF SINGLE CELL PROTEOMICS 2800+ HYPERION SPATIAL PROTEOMICS BIOMARK GENOMICS/ MULTIOMICS 9200+ Publications in Multiomics and Genomics PROTEOMICS PLATFORMS MULTIOMICS PL
Slide 7: Our Proteomic Solutions are Key to the Highest Growth Therapeutic Areas
Our Proteomic Solutions are Key to the Highest Growth Therapeutic Areas Standard BioTools 7 Cardiometabolic, GLP-1s Oncology Immunology Proteomics is closest to pathology, health state, and predictive medicine Genomics is the blueprint Proteomics is the function 3,937 Trials1 Leading published clini
Slide 8: Our High Content Proteomics Uniquely Scale to Meet Customer Needs
Our High Content Proteomics Uniquely Scale to Meet Customer Needs Standard BioTools 8 Widest Coverage & Highest Precision Widest coverage and consistency is driving our collective leadership in translational medicine Widest Coverage & Highest Multiplex Widest Dynamic Range & Highest Throughput High
Slide 9: 2024 Data: SomaScan is the Only Proteomic Approach that Scales
2024 Data: SomaScan is the Only Proteomic Approach that Scales Standard BioTools 9 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 0 2000 4000 6000 8000 10000 12000 # protein measurements Precision on duplicates (1 -CV %) 1.1k 5k 11k SOMASCAN ASSAY SCALING LEADING HIGH PLEX ANTIBODY BASED COMPETITOR 5k 3k 96 7
Slide 10: SomaScan Leadership in GLP-1 / Cardiometabolic and Key Growth Areas
SomaScan Leadership in GLP-1 / Cardiometabolic and Key Growth Areas Large studies, qualifying biomarkers, over 10 years create key moats Standard BioTools 10 Schattenberg et al. Journal of Hepatology 78:S811-S812. June 2023 Kowdley et al. EASL June 2023 Greatest Study Moat: 10 years of major cardiom
Slide 11: Data Moat + Our Illumina Partnership Create Growth Opportunity
Data Moat + Our Illumina Partnership Create Growth Opportunity Standard BioTools 11 Integrating SomaLogic’s products with Illumina's sequencing technologies, informatics toolsets and software Large proteomic translational opportunity over the next decade Illumina Partnership + + Only Scalable Soluti
Slide 12: 2024 Single Cell Proteomics & Spatial Proteomics Innovation
2024 Single Cell Proteomics & Spatial Proteomics Innovation Standard BioTools 12 ‘24: Hyperion launch – with up to 100x throughput over other technologies ’22 CyTOF XT launch: Approaching walkaway operations 100% 100% of the top 10 cancer immunotherapies1 have leveraged unique biomarkers in trials,
Slide 13: CyTOF Uniquely Scales with Critical Biomarkers for Oncology
CyTOF Uniquely Scales with Critical Biomarkers for Oncology Standard BioTools 13 Studies using conventional flow panels would have missed the critical differentiating markers Unique Predictive Biomarker *Competitor 25-color immunoprofiling assay †Pharma listed are the firms that manufacture and/ or
Slide 14: Spatial Proteomics Scales in Dynamic Range, Multiplex, and Throughput
0 200 400 600 800 1000 1200 1400 1600 Wk1 Wk2 Wk3 Wk4 Wk5 Cumulative Samples Per Week 0 200 400 600 800 1000 1200 1400 1600 Wk1 Wk2 Wk3 Wk4 Wk5 Cumulative Samples Per Week Spatial Proteomics Scales in Dynamic Range, Multiplex, and Throughput Standard BioTools 14 Imaging Mass Cytometry captures neces
Slide 15: Standard BioTools Business System: Creates Flywheel Through M&A
Standard BioTools Business System: Creates Flywheel Through M&A Standard BioTools 15 SBS culture of continuous improvement to achieve world class operational excellence and exceptional customer value LEAN TRANSFORMATION Build awareness of opportunities to eliminate excess/ waste and achieve the best
Slide 16: Capturing $80M Synergy Opportunity
Capturing $80M Synergy Opportunity Standard BioTools 16 Initial FY24 Target Achieved as of 3/31/24 Identified as of 9/30/24 Identified as of 6/30/24 $40M $50M $60M $80M • Able to operationalize synergies ahead of schedule as initial target goal was to realize by YE 2024 • This preserves investments
Slide 17: Revenue: Continued Focus on Diversifying Revenue Mix
Revenue Standard BioTools 17 Continued Focus on Diversifying Revenue Mix Pro Forma Combined H1 2024 YOY Instruments $12M (32%) Consumables $19M (11%) Service & Other $52M (4%) TOTAL $83M (11%) Pro Forma Combined H1 2024 YOY Proteomics (Px) $65M (12%) Genomics (Gx) $18M (6%) TOTAL $83M (11%) • YTD re
Slide 18: Gross Margin (Non-GAAP)
Gross Margin (Non-GAAP) Standard BioTools 18 Pro Forma Combined Q2 2024 YoY H1 2024 YoY Non-GAAP Gross Profit $ $17M ($9M) $43M ($6M) Non-GAAP Gross Margin % 45% (840 bps) 51% (124 bps) Executing Roadmap to Expanded Gross Margin Profile NON-GAAP GROSS MARGIN EXPANSION OPPORTUNITY 2026 Target GM Prof
Slide 19: Appendix
Appendix
Slide 20: 2024 Nature correction: SomaScan leads in precision/# of proteins
2024 Nature correction: SomaScan leads in precision/# of proteins Section 1 and Figure 1 in BioRx preprint and Nature paper were both corrected Standard BioTools 20 “Count” label misleading: not # of proteins measured
Slide 21: High-Parameter Cell Analysis is a Challenge with Proteins
High-Parameter Cell Analysis is a Challenge with Proteins Standard BioTools 21 Mass cytometry solves fundamental limitation of fluorescence-based cell analysis Markers 30 Biological insights 100 75 50 25 0 89Y 110Pd 141Pr 150Nd 161Dy 191lr 209Bi vs Spectral overlap Discrete channels 0 10 20 30 40 50
Slide 22: CyTOF Uniquely Scales for Translational Research
CyTOF Uniquely Scales for Translational Research Standard BioTools 22 The most robust solution in high-parameter flow cytometry market segment Number of lineage (surface) markers 5 10 15 25 Number of functional (intracellular) markers 10 20 30 40 50 CYTOF future 20 Conventional flow cytometry (many
Slide 23: Spatial Biology: Hyperion System is a Game-Changer
Spatial Biology: Hyperion System is a Game-Changer Standard BioTools 23 Throughput: number of slides/day 0.1 1 10 100 HIGH LOWQuality Discovery Translational research Transcript Profiling Cycling High-plex IF Low-plex IF* *IF: immunofluorescence 40 Slides | 40 Markers 24 Hours SBI Advantage HYPERION
Slide 24: Non-GAAP Reconciliation
Standard BioTools 24 Non-GAAP Reconciliation Gross Margin Figures are derived from Condensed Consolidated Statements of Operations as reported in the Company’s Reports on Form 10-Q for the relevant periods. | Numbers may not add, and percentages may not foot due to rounding. As Reported Pro Forma Q2
Slide 25: Non-GAAP Reconciliation - YTD
Standard BioTools 25 Non-GAAP Reconciliation - YTD Gross Margin Figures are derived from Condensed Consolidated Statements of Operations as reported in the Company’s Reports on Form 10-Q for the relevant periods. | Numbers may not add, and percentages may not foot due to rounding. As Reported Pro Fo
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