Cibus, Inc. · NASDAQ:CBUS
Cibus — Investor Presentation (September 2023)
21 slides from Cibus's investor presentation, Sep 6, 2023
Slide 1: The Future of Breeding
A u g u s t 2 0 2 3 The Future of Breeding C h a n g i n g t h e S p e e d o f T r a i t D e v e l o p m e n t™ 1
Slide 2: Cautionary Statements Regarding Forward Looking Information
Cautionary Statements Regarding Forward Looking Information This presentation contains forward looking statements based on current assumptions and forecasts made by Cibus Management Except as provided by law, this company assumes no obligations whatsoever to update these forward-looking statements o
Slide 3: Business Model
Business Model Royalty Model Develop - License Crop Traits - 6 Trait Pipeline: Disease, Weeds. Agronomy Example Customers Highlights Technology Cibus’ Trait Machine™ - The first standardized semi-automated end-to-end gene editing/breeding system - Analog-to-Digital Type Scale Change - Over 400 issue
Slide 4: Cibus' Products are Traits that Increase Productivity
4 Yield (Slope) Drivers . Seeds (Germplasm) Improvements . Productivity Traits .Chemicals (Insecticides & Fungicides) Cibus’ Products are Traits that Increase Productivity Productivity Traits are “Genetic Products” that Increase Yields, Lower Costs - Trait Fees or Royalties are Paid as a % Productiv
Slide 5: Experienced Management Team
5 Experienced Management Team Rory Riggs CEO, CHAIRMAN CO-FOUNDER Peter Beetham, PhD COO, PRESIDENT CO-FOUNDER Greg Gocal, PhD EVP, CHIEF SCIENTIFIC OFFICER, CO-FOUNDER Noel Sauer, PhD SVP, HEAD OF R&D Wade King, MD CHIEF FINANCIAL OFFICER 5 Steve Berreth, JD General Counsel,
Slide 6: Farmers Challenged by Environment & Climate Change
6 6 Farmers Challenged by the impacts of Environment & Climate change Seed Co’s Trait Developers TURN TO WHO TURN TO - They Develop New Traits - License Trait IP - Are Paid Royalties They Compete on Traits Improved Productivity. Farmers pay Trait Fees. Our Business Developing Productivity Traits tha
Slide 7: The Product/Customer Process
The Product/Customer Process Trait Commercialization Follows a Multi-Step Process Commercialization Process Begins after Sign-off on Trait with Customer Step #3 - Commercialize Product – Trait Registration, Seed Bulk Up & Launch Transfer Edited Seeds to Customer - who completes Seed Registration tri
Slide 8: Trait Pipeline: Initial Crops
8 Soybean Canola/ WOSR Market 50 MM ACRES Rice 10 MM ACRES Trait Pipeline * Cibus’ Soybean Platform is not operational. It is expected to be operational in H2 2023. Trait Machine Operational means a validated Trait Machine Process has been established. Market acres are for North America, South Ameri
Slide 9: Cibus has a Strong Pipeline of Productivity Traits
9 Cibus has a Strong Pipeline of 5 Productivity Traits Several Traits are Multi-Crop Cibus has an Established Customer Base for Each Trait in Each Crop 9 Note: See slide 20 for term definitions, data sources & assumptions Canola includes Canola. Winter Oilseed Rape and Carinata. Field Trials Years i
Slide 10: 20% to 40% of Annual Crop Production is Lost to Disease & Pests
20% to 40% of Annual Crop Production (~$290B) is lost to Disease & Pests Trait Fees are Paid for % Yield Improvement for Controlling Losses from Diseases or Pests Note: Bt Trait is presented as an example. It is not owned by Cibus. It is owned and licensed by several seed companies See slide 20 for
Slide 11: Proprietary Technology Platform has Enabled Pipeline
Note: Crop Life International, Philips McDougal Study, 2021. 11 Proprietary Technology Platform has Enabled Pipeline Cibus’ Trait Machine Process Materially Changes the Speed of Developing New Traits Conventional Trait Development Average: 12 to 15 Years (or Decades) GMO Trait Development (Breeding!
Slide 12: Trait Machine is Also Key to Commercial Model
Trait Machine is Also Key to Commercial Model Note: See slide 20 for term definitions, data sources & assumptions * Canola includes Canola, Winter Oilseed Rape and Carinata. Let’s Cibus Edit Traits Directly into Market-Ready Seeds: Customers Transfer Market-Ready Seeds Cibus Returns Market-Ready See
Slide 13: Canola is Cibus' Lead Crop
13 Canola is Cibus’ Lead Crop Trait Fee Acres (est.) Trait Fee (est. per acre) Pod Shatter (PSR): Launching 28 MM $5 - $10 Sclerotinia Resistance 30 MM $10 - $15 Herbicide Tolerance #2 (HT2) 20 MM $7 - $12 Nutrient Use Efficiency (NUE) 46 MM $5-$15 13 Current Customers*: 10 Canola Seed Co’s (~20 MM
Slide 14: Sclerotinia is Gene Editing's 1st Disease Trait
Sclerotinia is Gene Editing’s 1st Disease Trait Sclerotinia is the Most Destructive Disease for Canola with Losses from 5% to 100% Sclerotinia Impact Can Measured Similar to the Bt Trait based on Bushels Lost Fungicide Breakeven. • From Canola Council of Canada: The general rule is that yield loss i
Slide 15: Rice is a Key Crop for Initial Revenues
1515 Rice is a Key Crop for Initial Revenues Current Customers*: 3 Rice Seed Co’s (~5 MM Acres) Commercial Activity: 1st 2 Traits (HT1, HT3) Launching, Initial Transfer to Nutrien for US Mkt. Trait Fee Acres (est.) Trait Fees (est. per acre) HT1, HT3: Launching 8 MM ~$20-$25 Herbicide Tolerance #2 (
Slide 16: Soybean Expected to be Cibus' 1st Blockbuster Crop
16 Trait Fee Acres (est.) Trait Fees (est. per acre) Sclerotinia Resistance 50 MM ~$10-$15 Herbicide Tolerance #2 (HT2) 75 MM ~$5-$7 Nutrient Use Efficiency (NUE) 46 MM 16 ~$500-$750 Platform ~$375 r i i l r ( ) Soybean ~200 MM Acres Sclerotinia Resistance - Est. Market is $500-$750 MM in Royalties
Slide 17: Guidance: Royalty Markets for Cibus' Trait Pipeline
17 Guidance: Royalty Markets for Cibus’ Trait Pipeline Initial 3 Crops and 5 Traits, Est. Mkt ~ $1.7 to $2.1 Billion in Royalties Trait Market Estimates for Initial Traits in Canola, Rice & Soybean $150 MM $200 MM $225 MM Rice Canola* Canola & Rice: $875-$1,025MM TRAIT #1 - PSR Developed & Launching
Slide 18: Guidance: 2H 2023 Operational Milestones
Guidance: 2H 2023 Operational Milestones • Note: See slide 20 for term definitions, data sources & assumptions. • Soybean platform is not operational yet. It is estimated to be operational in 2H 2023. Confirming Our Lead Trait: “Sclerotinia Resistance” & Our Largest Platform: “Soybean” Ending 2023 w
Slide 19: 2024 is Also Key Year in Global Regulations
19 2024 is Also Key Year in Global Regulations New Gene Editing Regulations in Place Positive Policy Processes Underway Positive Policy Discussions Note: Cibus traits are developed without integrating foreign DNA in the process or product. in key target markets including the United States, the new g
Slide 20: Disclaimer: Company Data, Projections & Terms
25 Disclaimer Company Data, Projections & Terms crops. They may be for a single MOA or Multiple MOA’s. 1. A Customer is defined as a seed company that has already transferred its elite germplasm to Cibus under an editing collaboration agreement for a specific trait. 2 Developed means validated field
Slide 21: Forward-Looking Statements
This presentation contains “forward-looking statements” within the meaning of applicable securities laws, including The Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included herein, including statements regarding the benefits o