Bio-techne Corp · NASDAQ:TECH
Bio-techne — Investor Day (September 2023)
125 slides from Bio-techne's investor day presentation, Sep 8, 2023
Slide 1: Where Science Intersects Innovation: Bio-Techne Investor Day
Where Science Intersects Innovation ® Bio-Techne Investor Day September 8, 2023 Confidential. © 2023 Bio-Techne® . All rights reserved. | 1
Slide 2: Safe Harbor
Safe Harbor C A U T I O N A R Y S TAT E M E N T S This presentation contains “forward-looking “expects,” “expect,” “forecast,” “would,” “estimate,” We undertake no obligation to update any statements” within the meaning of the federal “will,” or similar references to future forward-looking statement
Slide 3: Agenda
8:30 AM – 9:15 AM Corporate Overview Chuck Kummeth, President & Chief Executive Officer 9:15 AM – 10:00 AM Protein Sciences Will Geist, President, Protein Sciences Agenda 10:00 AM – 10:15 AM 10:15 AM – 11:00 AM Break Diagnostics & Genomics Overview Kim Kelderman, President, Diagnostics & Genomics 11
Slide 4: Corporate Overview
Corporate Overview Chuck Kummeth President and Chief Executive Officer Confidential. © 2023 Bio-Techne® . All rights reserved. | 4
Slide 5: Today's Presenters
Today’s Presenters Chuck Kummeth Will Geist Kim Kelderman Jim Hippel Chief Executive Officer President Protein Sciences President Diagnostics & Genomics Chief Financial Officer Chuck Kummeth became President Will Geist joined Bio-Techne on Kim Kelderman joined Bio-Techne on Jim Hippel became Chief F
Slide 6: Portfolio of Proven Products
Consumables-Focused Portfolio of Proven Products President & CEO Chuck Kummeth Product Portfolio Headquarters Instruments Services Minneapolis, MN 10% 7% Royalties Number of Employees 2% Proteins Antibodies ~3,200 Worldwide Presence Proteomic 35 Locations Immunoassays Analytical FY2023 Revenues $1.1
Slide 7: Confidential. © 2023 Bio-Techne ® . All rights reserved. | 7
Confidential. © 2023 Bio-Techne® . All rights reserved. | 7
Slide 8: Creating Bio-Techne
Creating Bio-Techne 2013 2023 US-centric narrowly-focused catalog Global diversified diagnostic and life research reagents company science solution provider CREATING BIO-TECHNE Confidential. © 2023 Bio-Techne® . All rights reserved. | 8
Slide 9: Transformation has Driven Addressable Market Expansion
Transformation has Driven Addressable Market Expansion Diagnostic Reagents Proteomic Research Diagnostic Reagents Diagnostic Kits Reagents & Controls FY2023 Liquid Proteomic FY2013 Biopsy Analytical Tools GROWING MARKET Proteomic Research Tissue Pathology Cell Culture & Reagents Gene Therapy ADDRESS
Slide 10: Large Addressable End Markets: ~$27B
Large Addressable End Markets: ~$27B Historic 5-Yr End Market Market Bio-Techne Market Bio-Techne Markets Size Growth Rate Penetration CAGR Core Products* ~$6B Mid-Single Digit 7% ~10% Proteomic Analytical Instruments ~$3B Low-Double Digit 19% ~10% ADDRESSABLE END MARKETS Spatial Biology ~$5B Low-Do
Slide 11: Transformation has Driven Growth and Profitability
Transformation has Driven Growth and Profitability Revenue ($M)* Adjusted Operating Income ($M)* Cash from Operations ($M)* 1,137 410 254 R AGR CAG R AG C 7 % % C 9% 14 169 124 311 OVERVIEW 2013 2023 2013 2023 2013 2023 * Fiscal year results. Confidential. © 2023 Bio-Techne® . All rights reserved. |
Slide 12: Subsidiary Operating Model
Subsidiary Operating Model Global Business Unit / Division CEO/CLT Regional Organization Business / Functional Leadership Communication Area Leadership Business / Functional Leadership Shared P&L Area Leadership Regional Portfolio: Technology Brand/ Ways to Local Life Cycle Platform Capital Human Ca
Slide 13: Bio-Techne Business Process
Bio-Techne Business Process Analyze Plan & Set Direction Collect Data Prioritize & Decide Execute Strategic Plan Define Option Scoring Scenario Analysis Operating Plan Provides context, Define business Score options against case options in the the strategic filters Consider different Inform an direc
Slide 14: Prioritization Process
Prioritization Prioritization Provides Clear Direction for Investment Decisions Process Across the Whole Business Compare Options Benefit/Cost Based On: Prioritization Frontier • What are the resources Risk Adj Total Benefit Relative Benefit required to deliver the project? • What is the benefit of
Slide 15: Prioritization Projections Have Been Predictive of Revenue
Prioritization Prioritization Projections Have Been Predictive of Process Revenue Five Years Out 1,400 1,200 1,000 FY Revenue ($M) 800 PRIORITIZATION OUTCOMES Prioritization Projection 600 5 Years Earlier Actual Revenues 400 200 0 FY19 FY20 FY21 FY22 FY23 Confidential. © 2023 Bio-Techne® . All right
Slide 16: Our Segment Structure & Brands
Our Segment Structure & Brands Protein Sciences Diagnostics & Genomics Proteomic Proteomic Diagnostic Molecular Spatial Research Reagents Analytical Tools Reagents Diagnostics Biology Develops and Manual and automated Develops and Develops and manufactures Advanced, tissue manufactures biological pr
Slide 17: Portfolio of Core Products
Portfolio of Core Products Allows Delivery of Comprehensive Workflow Solutions Spatial Biology Core Products Cell Culture & Gene Therapy Antibodies Proteins Immunoassay Liquid Biopsy Calibrators & Controls Small Molecules OVERVIEW Proteomic Analytics Confidential. © 2023 Bio-Techne® . All rights res
Slide 18: Completing the Transformation
Completing the Transformation… 2023 2033 Global diversified diagnostic and life Workflow provider of customer- science solution provider oriented brands for solutions critical to research, therapeutic, and diagnostics applications Cell and Proteomics Gene Therapy TOWARDS 2033 Spatial Liquid Biology
Slide 19: Deploying Five Key Strategies to Drive Profitable Growth
Deploying Five Key Strategies to Drive Profitable Growth Core Product Geographic Bolt on M&A and World-Class Innovation Expansion Market Expansion Customer Journey Culture and Talent Growth Confidential. © 2023 Bio-Techne® . All rights reserved. | 19
Slide 20: We are a Product-Based Solutions Company
S T R AT E G I C T H E M E We are a Product-Based Solutions Company Lead with high quality, innovative products to meet customer's needs Foster a continuous improvement mindset Core Utilize technology council to drive cross-divisional innovation Product Innovation Maximize synergistic opportunities
Slide 21: Portfolio Approach Offers Cross-Platform Synergies
Portfolio Approach Offers Opportunity for Cross-Platform Synergies Immunoassay Platforms • Antibody selection/characterization for assay performance + + • Protein standards • Conjugation and signal amplification Instruments Antibodies Proteins Western Blotting • Strengthen presence in WB application
Slide 22: Creating Value Through Innovation
Creating Value Through Innovation Innovation INTELLECTUAL PROPERTY APPROACH Engine Creates Patentable, Protectable IP: 568 granted patents 316 pending Confidential. © 2023 Bio-Techne® . All rights reserved. | 22
Slide 23: We are a Global Company
S T R AT E G I C T H E M E We are a Global Company Optimize subsidiary model to drive global operational excellence Expand regional sales teams and offices in under-penetrated geographies, particularly in China, Asia, and Latin America Geographic Rationalize delivery channels to improve responsivene
Slide 24: Our Global Reach
Our Global Reach Manufacturing Sales Office Regional Distribution R&D Demo Site Global Locations North America Europe Asia Minneapolis, MN Denver, CO San Jose, CA Abingdon, UK Paris, France Beijing, China Tokyo, Japan Ottawa, Canada Devens, MA San Marcos, CA Bristol, UK Rennes, France Osaka, Japan G
Slide 25: Expanding Global Team
Expanding Global Team FY2013 TODAY <20 >250 >100 Rapid employee growth requires >500 strong culture to execute on strategies ~800 ~3,200 Employees Employees ~700 ~2,400 OVERVIEW North America Europe Asia Confidential. © 2023 Bio-Techne® . All rights reserved. | 25
Slide 26: We are Entering New Categories Through M&A
S T R AT E G I C T H E M E We are Entering New Categories Through M&A Identify fast growing and/or game changing technologies that can scale Entering Integrate acquisitions that fill product or technology gaps New Strengthen diagnostic and analytical capabilities that Categories leverage our consuma
Slide 27: Successful Bolt-On Strategy Has Led to Sustained Growth
Successful Bolt-On Strategy Has Led to Sustained & Accelerated Growth Pre-FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Acquisition Strategy Has Created an Organic Growth Engine 1,200 Revenue ($ million) 1,000 800 600 400 200 0 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Confiden
Slide 28: What Have we Looked for in M&A
What Have we Looked for in M&A EXPANSION WITH BOLT ON M&A Life Science Deploy existing Unique, protectable Address sizable markets Synergies content IP and/or first-mover with a pathway to advantage customer acceptance and near-term profitability Confidential. © 2023 Bio-Techne® . All rights reserve
Slide 29: We are Customer-Focused
S T R AT E G I C T H E M E We are Customer-Focused Product development driven by customer needs Deliver world-class quality World-Class Drive continuous improvement in quality systems Customer Modernize marketing and digital systems to connect customers Journey to our products Rationalize ordering,
Slide 30: World-Class Customer Journey
World-Class Customer Journey Build Upon a “Always On” Remove Business Deliver World Serve and Support Strong Brand Marketing Friction Class Quality Users • Continue to build • Build upon our • Make products easy • Foster continuous • Improve delivery the Bio-Techne legacy of speaking to find and bun
Slide 31: Creating an Intelligent Experience
Creating an Intelligent Experience Leveraging Data and AI to Create a World Class Customer Experience Recommendations Omnichannel Experimentation & Search Personalization & Optimization Guiding customer AI AT BIO-TECHNE Tailoring the experience at scale Building a world class browsing across the vas
Slide 32: We are E.P.I.C.
S T R AT E G I C T H E M E We are E.P.I.C. Emphasize epic culture and values Create a stimulating work environment Leverage key talent through acquisitions Build talent pipeline Culture Co-create always-on recruiting & Talent Deepen employee experience Growth Fortify belonging Integrate learning and
Slide 33: Our EPIC Culture
Our EPIC Culture RELEASE Potential GIVE it Everything MAKE Something Brilliant SHARE to Win DEVELOP People MAKE Work Enjoyable TAKE Risks Worth Taking BUILD Positive Relationships PROVIDE the Right Tools KNOW Why Your Work is IMAGINE the Possibilities CONNECT Across Boundaries Important Confidential
Slide 34: A Team of Experienced Leaders
A Team of Chuck Kummeth Chief Executive Officer Jim Hippel Chief Financial Officer Shane Bohnen SVP General Counsel Will Geist President Protein Sciences Kim Kelderman President Diagnostics & Genomics Experienced Leaders Qi Cheng Brenda Everson Bob Gavin Gary Latham Kevin Smyth VP Corp. Quality & SV
Slide 35: Laying the Foundation for a Sustainable Future
Laying the Foundation for a Sustainable Future FOUNDATION FOR A SUSTAINABLE FUTURE Environmental Social Governance Continual progress toward Diverse and inclusive workplace: Board includes: sustainability at largest global manufacturing site: • 50% of global workforce are female • Diverse membership
Slide 36: Key Investment Highlights
• Remain well positioned in growing and underpenetrated markets • Culture and processes focused on driving growth Key and maximizing profitability • Poised to benefit from improving macro environment Investment • Continue building a sustainable future as a Highlights prominent Life Science Tools/Dia
Slide 37: Protein Sciences Segment
Protein Sciences Segment Will Geist President, Protein Sciences Segment Confidential. © 2023 Bio-Techne® . All rights reserved. | 37
Slide 38: The Golden Age of Proteins
The Golden Age of Proteins Bio-Techne is uniquely positioned for growth and share gain Confidential. © 2023 Bio-Techne® . All rights reserved. | 38
Slide 39: Next Generation or HTP Proteomics
Next Generation or HTP Proteomics Central Proteins determine Early Precise Dx Profile Dogma structure, function, and Novel Drug Targets pQTLs regulation DNA Phenotype Better Understanding of Biology (disease mechanism) Proteins Reverse Translation RNA Proxy RNA Proteins unlock the potential of genom
Slide 40: Biologics
Biologics Our Analytical Systems are critical accelerators for research, development, and production Confidential. © 2023 Bio-Techne® . All rights reserved. | 40
Slide 41: Cell & Gene Therapy: Significant Growth Potential
Cell & Gene Therapy Significant Growth Potential PUTTING THIS IN CONTEXT: C E L L & G E N E T H E R A P Y T O DAY Mirroring Monoclonal-Antibody Therapy Cell & Gene Therapy is still in early phases of growth mirroring biologics 25x Addressable mAb mAb & monoclonal antibody Market technologies. (20 Ye
Slide 42: PSS Strategic Pillars
PSS Strategic Pillars We improve the quality of life by Catalyzing advances in Science and Medicine Grow & Leverage Win in C> and Expand Market Access Best-in-Class the Core Diagnostics Through Innovation Customer Experience The Team, Our Advantage, Where Talent Thrives Confidential. © 2023 Bio-Te
Slide 43: Protein Sciences
Protein Sciences Proteomic Research Reagents Proteomic Analytical Tools Proteins Antibodies Small Molecules Immunoassays Instruments PROTEIN SCIENCES Leading Largest Wide range Most cited portfolio Portfolio of simple, portfolio of commercial of innovative, of single analyte automated platforms high
Slide 44: What Makes Our Content Special?
What Makes Our Content Special? Best in Class Content is Our Engine Choice Confidence Continued Innovation 40 YEAR LEGACY OF R&D SYSTEMS • Largest selection of RUO & GMP • Stringent quality standards and • Scaling of manufacturing, factories bioactive Proteins dedicated GMP facilities & yields • Tru
Slide 45: Leveraging and Deploying Content
Proteomic Applications: Addressable Market: ~$4-5B Leveraging and Deploying Content Market Growth: Mid-Single Digit Cell & Gene Cell Therapy Imaging Bio-Techne Market Share: (GMP Proteins) ~10% Dx Controls & Antibody Blocking/ Bio-Techne 5 Year Trailing CAGR: Production Immunoassay Calibrators Activ
Slide 46: Analytical Instruments: Disrupting Existing Workflows
Analytical Instruments: Disrupting Existing Workflows with Simple/Automated Solutions Addressable Market: Simple PlexTM Western Biologics Namocell >$3B Market Growth: Upper-Single Digit Bio-Techne Market Share: >10% Automated ELISA Automated western Automated Protein Automated single cell Bio-Techne
Slide 47: Accelerating Adoption Across Instrument Platforms
Accelerating Adoption Across Instrument Platforms Simple WesternTM Biologics iCE Simple Plex Installed Base Installed Base Installed Base 4,000 3,500 1200 3,500 3,000 1000 3,000 2,500 800 2,500 2,000 2,000 600 1,500 1,500 400 1,000 1,000 500 200 500 0 0 0 19 19 20 20 21 21 22 22 23 23 19 19 20 20 21
Slide 48: Simple Western: The Only Automated Western Blotting Instrument
Simple Western: The ONLY Automated Western Blotting Instrument On the Market • Takes a difficult, complex workflow and automates and simplifies it • Adds significantly improved quantitation • The throughput and quantitation was simply not possible before Simple Western <20% of western blotting marke
Slide 49: Simple Western: Empowering Scientists in New Applications
Simple Western: Empowering Scientists in New Applications Complex Applications Potency Intracellular/ No Sample Types Where Size Assays Signaling Commercial Matters Immunoassays ELISA Kit • Cell & viral lysates • Gene Therapy potency assays • Phospho signaling • Easy assay dev vs. ELISA • Tissue hom
Slide 50: Maurice: One Investment, Multiple Applications
Maurice : One Investment, Multiple Applications IEF Cart A single Maurice platform for Protein Identity, Charge, Size and Characterization IEF SDS Plus Fraction Cart applications for Discovery through GMP Product Release Primary Target Customer Analytical Development and QC Turbo labs across Pharma
Slide 51: Innovation Expanding Market Opportunities in Bioprocess
Innovation Expanding Market Opportunities in Bioprocess New MauriceFlexTM Turbo Cart for Control of Maurice Instrument CE-SDS Applications Instrument Performs IEF Fractionation 5x the throughput with similar Empower™/Chromeleon™ Drivers and routine cIEF and CE-SDS resolution to our CE-plus cart supp
Slide 52: Redefining Single Cell Isolation
Redefining Single Cell Isolation NamocellTM Single Cell Dispensers • Designed specifically for single cell isolation • Address all current challenges • Support a wide range of applications Fast Gentle Easy SINGLE CELL ISOLATION Flexible Compact Affordable Targeting a more than $300M Single Cell Disp
Slide 53: Simple Plex: Automation Provides Unparalleled Assay Precision
Simple Plex: Automation Provides Unparalleled Assay Precision Quickly becoming a leading tool for immune monitoring and biomarker research Growing adoption • Expanding library to support Cell & Gene Therapy, Neuroscience, Immunology, and Bioprocess SIMPLE PLEX • Emerging opportunities for Ultra-prec
Slide 54: Global Leader in Immunoassays
Global Leader in Immunoassays ELISA Kits Simple Plex on Ella Luminex Assays R&D Systems 40 year legacy as Automated and precise Immunoassay premium brand supporting data consistency site to site Multiplex Up to 50 targets with flexible panel customization Most cited supplier of plate- Expanding menu
Slide 55: Well Positioned for Rapidly Expanding Protein Detection Market
Bio-Techne is Well Positioned for Number of Samples Number of Proteins the Rapidly Expanding Protein Detection Market Discovery - High Plex • Bio-Techne: Leverages antibody content to strengthen partnerships through license & commercial supply Verification & Validation – Secondary Screen & Clinical
Slide 56: Expanding Proteomic Analytical Instrument Applications & Markets
Expanding Proteomic Analytical Instrument Applications & Markets Biologics Simple Western Simple Plex Legacy Expanded Legacy Expanded Legacy Expanded Application Application Application Application Application Application • Protein purity, • Fractionation for mass • Fully automated • Quantitative •
Slide 57: Cell & Gene Therapy
Cell & Gene Therapy Full workflow solution in high growth market Confidential. © 2023 Bio-Techne® . All rights reserved. | 57
Slide 58: Curing the Uncurable With Cell & Gene Therapies
Curing the Uncurable With Cell & Gene Therapies Cell Therapies Gene Therapy Immune Cell Therapy Regenerative Medicine CELL & GENE THERAPIES Manipulate the immune system Replace lost or damaged cells Repair or replace to clear tumors and tissues with stem cells defective genes Confidential. © 2023 Bi
Slide 59: Cell & Gene Therapy: In Demand
Cell & Gene Therapy In Demand FDA estimates the FDA approved More than approval of up to 13 18 indications covered ~2,000 ~20 CGT therapies in clinical CGT products a Since 2017 trials right now year by 2025 Confidential. © 2023 Bio-Techne® . All rights reserved. | 59 Confidential. © 2023 Bio-Techne
Slide 60: C> Market Opportunity
Addressable Market: C> Market Opportunity ~$4B Market Growth: Upper Teens Bio-Techne Market Share: >2% Bio-Techne 5 Year Trailing CAGR: ~50% Brands Surge in new C> Therapies predicted by FDA Confidential. © 2023 Bio-Techne® . All rights reserved. | 60
Slide 61: Supporting CGT from Development to Clinic
Supporting CGT from Operational = Work in Development to Clinic Content Scaling Progress GMP Proteins GMP Small Molecules Analytical Tools WALLINGFORD, CT, USA MINNESOTA, USA BRISTOL, UK SAN JOSE, CA, USA OPERATIONAL CONTENT SCALING • Custom GMP protein • 3 GMP manufacturing zones • ISO 13485-certif
Slide 62: Immune Cell Therapy Solutions Every Step of the Way
Immune Cell Therapy Solutions Every Step of the Way Cell Cell Cell Cell Final Product In Vivo Isolation & Culture & Harvesting Culture Engineering Expansion Characterization Monitoring Activation & Fill Our Solutions Flow Cytometry GMP Cytokines TcBusterTM GMP Cytokines Lovo® Flow antibodies RNAscop
Slide 63: A Strategic Partnership for Immune Cell Therapy
A Strategic Partnership for Immune Cell Therapy 800+ Clients Sales, Process Optimization, and Application Support GMP Reagents & Cell Culture Cell Processing Gene Editing Devices Automation G-Rex® Cytokines, Lovo ® & Bioreactors ExCellerate™ Media, Cue® Systems TcBuster™ Confidential. © 2023 Bio-Tec
Slide 64: Aseptic Immune Cell Therapy Manufacturing Solution
Bio-Techne’s Aseptic Immune Cell Therapy Manufacturing Solution TcBuster Clinically Non-viral Proven GMP Gene Media Engineering EXPAND THROUGH INNOVATION GMP Closed Process Cytokine Sized GMP Delivery G-Rex Cytokines * Confidential. © 2023 Bio-Techne® . All rights reserved. | 64 *WILSONWOLF 20% owne
Slide 65: Our Solution: TcBuster
Our Solution: Innovative non-viral transposon system for stable gene transfer Advantages compared TcBuster to the current standard lentivirus: Gene • Large cargos with high efficiency Engineering • Shorten timeline from With Flexibility process development and Speed to patients • TcB: 9-16 weeks • L
Slide 66: Regenerative Medicine Solutions Every Step of the Way
Regenerative Medicine Solutions Every Step of the Way Cell Reprogramming Cell Cell Final Product In Vivo Isolation & Differentiation Culture Engineering Expansion Characterization Monitoring Flow Cytometry GMP Cytokines TcBuster GMP Cytokines ExCellerate Media Simple Plex RNAscope ISH Our Solutions
Slide 67: Transformative GMP Regenerative Medicine Reagents
Transformative GMP Regenerative Medicine Reagents Enabling Targeted Differentiation and Varying Cell Lineages REGENERATIVE MEDICINE GMP PROTEINS & SM z i-CAR-T Pluripotent GMP Proteins & Small Molecules Stem Cells • Broadest offering on the market Hematopoietic i-Natural • Manufacturing scaling in p
Slide 68: Cell Therapy Verification Trials
Cell Therapy Verification Trials Viral Vector QC Release Testing In Vivo Analytics VERIFICATION TRIALS Test Your Vector Like You Automated Cytokine Profiles Highest sensitivity and Would Test Your Therapeutics on Simple Plex specificity in Spatial Biology with Maurice with RNAscope Differentiated an
Slide 69: Gene Therapy Solutions
Gene Therapy Solutions Vector Vector In Vivo Production Analysis Monitoring Antibodies Maurice Simple Western Our Solutions GMP Antibodies MauriceFlex RNAscope Simple Plex Simple Western Antibodies Simple Western Confidential. © 2023 Bio-Techne® . All rights reserved. | 69
Slide 70: Verify with Bio-Techne
Verify with Bio-Techne Cutting Edge Analytical Technologies Gene Potency Vector Characterization Viral Titer Absolute protein quantitation Identity, stability, and empty/full Validated Simple Plex assays for and relative potency capsid analysis with Maurice. titer and process impurities assays with
Slide 71: Bio-Techne Analytics are Becoming Established in Gene Therapy
Bio-Techne Analytics are Becoming Established in Gene Therapy We have content, Things you need Solutions For Critical Quality Attribute (CQA) Characterization to measure about including customer the virus Viral Viral Capsid Protein Empty/ Protein Stability Expression Purity Titer Identity Full Ratio
Slide 72: Creating a Destination of Choice
Creating a Destination of Choice World Class Customer Experience Powered by AI & Data Science Confidential. © 2023 Bio-Techne® . All rights reserved. | 72
Slide 73: The Future of Bio-Techne
The Future of Bio-Techne Best in Class Complete Workflow World Class Customer Content Capabilities Experience Choice: Largest Cutting edge Data Science selection of content analytical driven, personalized technologies marketing engine Confidence: Stringent quality standards + Capabilities to + Custo
Slide 74: We Are At a Tipping Point with our Digital Investments
We Are At a Tipping T H E F O U N D AT I O N Point with our HAS BEEN BUILT Digital Investments Bio-Techne Website Bio-Techne Brand Single Order Point Bio-Techne CRM Bio-Techne Data Platforms We have substantial value waiting to be unlocked by completing this investment Confidential. Confidential. ©
Slide 75: Developing a World Class Customer Experience
Developing a World Class Customer Experience Establishing Effectively Cultivate a Deliver a uniform Strengthen best-in-class promote our cohesive Bio-Techne customer journey our business capabilities full portfolio brand Identity Fostering enhanced intelligence in e-commerce, Through a data Ensuring
Slide 76: Destination of Choice: A Virtuous Cycle of Value
REVENUE Benefits to • Leverage of existing traffic to drive DESTINATION OF CHOICE be realized: awareness & penetration across product lines • Leverage of capabilities including A virtuous CUSTOMER BENEFITS recommendation engine & personalization • All the products I need to drive increased engagemen
Slide 77: The Golden Age of Proteins
• Our markets in cell & gene therapy, biologics and proteomic research are poised to see The continued, significant growth Golden Age analytical tools, research to clinic capabilities, • Bio-Techne’s best in class reagents, cutting edge of Proteins uniquely position us to capture share • This combin
Slide 78: Diagnostics & Genomics Segment
Diagnostics & Genomics Segment Kim Kelderman President, Diagnostics & Genomics Confidential. © 2023 Bio-Techne® . All rights reserved. | 78
Slide 79: Diagnostics & Genomics
Diagnostics & Genomics Diagnostic Reagents & Controls Molecular Diagnostics Spatial Biology DIAGNOSTICS & GENOMICS Confidential. © 2023 Bio-Techne® . All rights reserved. | 79
Slide 80: Diagnostics Reagents & Controls
Diagnostics Reagents & Controls Diagnostic Reagents & Controls Molecular Diagnostics Spatial Biology DIAGNOSTICS REAGENTS & CONTROLS Confidential. © 2023 Bio-Techne® . All rights reserved. | 80
Slide 81: Bio-Techne, a Leader in Serving the IVD Industry
Bio-Techne, a Leader in Serving the IVD Industry 40+ years in Reagents, Calibrators & Controls DIAGNOSTICS REAGENTS & CONTROLS • Hematology • Blood gas • Glucose • Cardiac markers • Molecular • Point of Care Broad menu of diagnostic Antibodies, Antigens, Proteins, and Conjugates Quality management s
Slide 82: Diagnostics Reagents Market Overview
Diagnostics Reagents Market Overview Current Revenue Base Mutual Customer Base Future Growth Area Molecular Dx Assay Development POC Hematology Clinical Controls Microbiology $1.1B Other Oncology Coagulation 4% CAGR DIAGNOSTICS REAGENTS MARKET Urinalysis Immunoassay Clinical Chemistry Assays & Drugs
Slide 83: DRD is Evolving to a Complete IVD Partner
DRD is Evolving to a Complete IVD Partner: From Concept to Kit Adjacency Core Capability Antibody & Controls & Production Assay Design Protein Reagent Validation at Scale Generation Formulation OEM/CUSTOM CAPABILITIES • Controls and reagents knowhow resulted in assay expertise • Assay design pulls t
Slide 84: DRD Key Strategic Themes
DRD Key Strategic Themes 1st Choice Pull Through Reagents Operational Integrate IVD Upgrade Third Outsourcing Partner & Controls Revenue Excellence Raw Materials Party Controls Delight current customers Assay development and Operations & Quality Utilize Bio-Techne 3rd party controls and targeted Bus
Slide 85: Molecular Diagnostics
Molecular Diagnostics Diagnostic Reagents & Controls Molecular Diagnostics Spatial Biology DIAGNOSTICS & GENOMICS Confidential. © 2023 Bio-Techne® . All rights reserved. | 85
Slide 86: Molecular Diagnostics Division Overview
Molecular Diagnostics Division (MDD): Exosomes are released by all living cells into biofluids MOLECULAR DIAGNOSTICS DIVISION OVERVIEW ExosomeDxTM Using exosome-derived gene signatures. Crucial for early disease detection and monitoring. Asuragen Develop MDx testing-kits for high sensitivity testing
Slide 87: Global Megatrends Inform MDD Markets and R&D
Global Megatrends Inform MDD Markets and R&D Precision Healthy Women’s Multiomic Artificial Medicine Aging Health Technologies Intelligence MOLECULAR DIAGNOSTICS DIVISION EXOSOME LBx ONCOLOGY REPRODUCTIVE MOLECULAR DISEASE SIGNATURES MONITORING HEALTH CONTROLS • Build out Prostate Cancer • Leverage
Slide 88: MDD Product Portfolio
MDD Product Portfolio Screening Diagnosis Monitoring Many patients Frequent tests Fragile X CFTR Fragile X C9orf72 BCR-ABL (CML) SMA TRIO SMA HTT Current MOLECULAR DIAGNOSTICS DIVISION CFTR DMPK Products ExoDx™ Prostate Test Carrier Plus Solid Tumor Mutation Current Liq
Slide 89: Bringing Exosomes to the Forefront of Liquid Biopsy
Bringing Exosomes to the Forefront of Liquid Biopsy Many liquid biopsy (LBx) products use cell-free DNA (cfDNA) or circulating tumor cells (CTCs). Exosomes are both, a more abundant and a richer source of biological information BRAF Key Properties CTC cfDNA Exosomes copies/mL 64000 Analyte RNA+DNA D
Slide 90: The ExoDx Prostate Test
The ExoDx™ Prostate Test A non-invasive risk assessment for high-grade prostate cancer (HGPCa), that informs if prostate biopsy is necessary MOLECULAR DIAGNOSTICS DIVISION EPI score At-Home Collection Launched in 2020 Key Points: • Independent of PSA and other standard of care information (e.g. Fami
Slide 91: Ultra-Sensitive Solid and Liquid Tumor Monitoring
MONITORING Ultra-Sensitive Solid and Liquid Tumor Monitoring A standardized monitoring assay for actionable mutations on qPCR Oncology Applications Sample Collection ctDNA + exoRNA qPCR Data Analysis Breast Isolation MOLECULAR DIAGNOSTICS DIVISION CNS cfDNA GI exoRNA Bladder Whole blood / plasma Cli
Slide 92: Monitoring: ESR1 Mutation in HR+ Breast Cancer
Monitoring: ESR1 Mutation in HR+ Breast Cancer Mutations in the estrogen receptor (ESR1) occur in up to 40% of metastatic HR+ BC patients and are a leading cause of drug resistance and disease progression C TN B 10C% ~B N T % ~10 Fulvestrant/ Endocrine Therapy ESR1 ESR1 2x longer + Novel SERDs & Nov
Slide 93: A Novel Multiomic Platform to Drive Test Development
A Novel Multiomic Platform to Drive Test Development Building a platform to fuel development of next-gen diagnostics for precision medicine Source Biomarker Analyte Analysis CENTRALIZED TEST OFFERING • CLIA laboratories in Waltham, ctDNA SNPs/InDels MA and Austin, TX exoDNA* Fusions • Established sa
Slide 94: Multiomics Platform Pipeline
Multiomics Platform Pipeline Spanning applications in oncology, immunology, and neurology Utilize Urology channel, Prostate Cancer (Rule In) multiple issued patents Prostate cancer diagnostic Colorectal Cancer Major LBx partner opportunity Internal Pipeline Exosome based multiomics Equal or better t
Slide 95: Screening & Early Detection: Prostate Cancer Rule-In Test
SCREENING Screening & Early Detection: Prostate Cancer Rule-In Test ExoDx Prostate Cancer Rule-In Test will guide which patients should get a biopsy, utilizing our Multiomic platform ExoDx Prostate ExoDx Prostate Cancer Intelliscore (EPI) Test Rule-In NPV focus PPV focus This multiomic test will gui
Slide 96: Screening & Early Detection: Colorectal Cancer
SCREENING Screening & Early Detection: Colorectal Cancer Leveraging our multi-analyte, exosome platform, we aim to increase the detection rate of pre-cancerous advanced adenomas (AA) and Colorectal Cancer (CRC) • >40% people do not comply with CRC screening guidelines1 MOLECULAR DIAGNOSTICS DIVISION
Slide 97: AmplideX Nanopore Carrier Plus Kit
AmplideX® Nanopore Carrier Plus Kit A novel PCR-based, Long-read Sequencing Solution for Carrier Screening (CS) Problem Drivers Solution Expanding CS Guidelines 11-gene Laboratory panel Pain Point: MOLECULAR DIAGNOSTICS DIVISION For a carrier Novel Gene AmplideX® Nanopore screen there are Therapies
Slide 98: The Power of MDD
Exosomes + The Power cfDNA = Best in Class Channel Liquid Biopsy Strength of MDD Platform Urology, Complete MDx Labs, Diagnostic Solutions Pharma, OEM >250 Building a Leadership Granted Genetics Position in Molecular & Pending Portfolio Patents Diagnostics Multiomic Molecular Discovery Controls Plat
Slide 99: Spatial Biology
Spatial Biology Diagnostic Reagents & Controls Molecular Diagnostics Spatial Biology SPATIAL BIOLOGY Confidential. © 2023 Bio-Techne® . All rights reserved. | 99
Slide 100: RNAscope the Gold Standard
RNAscopeTM the Gold Standard 47,000+ 8000+ 100M+ Unique Probes Sold Peer Reviewed Global Revenue Publications Confidential. © 2023 Bio-Techne® . All rights reserved. | 100
Slide 101: Delivering Spatial Insights Today
Delivering Spatial Insights Today True Multiomic Capability Broadest Range of Multiomic Assays Advancing Research RNAscope Protein/RNA Cancer/Immuno-oncology mRNA Protein CoDetection Long Species ncRNA Specific Inflammation/Infection RNAs Point Virus Mutation Neuroscience SPATIAL BIOLOGY siRNA/ Spli
Slide 102: COMET: The First Open Spatial Biology Platform
Founded the vision of bringing spatial-omics to tissue analysis. Company Patents founded >50 granted COMET™ 2014 The First Open Spatial Biology Platform ABOUT Based Employees Lake Geneva, • Walk Away Automation with • Excellent reproducibility and +120 FTEs Switzerland unmatched throughput tissue pr
Slide 103: Spatial Biology Market Landscape
Spatial Biology Market Landscape Omics Biology $17B, 11% CAGR Spatial + Non-Spatial Detection Methods + Spatial Biology $5B, 10% CAGR Protein | RNA | DNA Any Plex Spatial (ISH) Spatial Multiplex Protein Transcriptomics Immunofluorescence (IF) RNA | DNA $2B, 12% CAGR SPATIAL BIOLOGY Any Plex Spatial
Slide 104: Same Slide, Fully Automated, Multiomics Workflow
Same Slide, Fully Automated, Multiomics Workflow Lunaphore & ACD Fast and flexible assay development • Open choice of targets for RNA and protein • Leverage your own Abs combined w SPYRE panels Probe Automated Automated Reagent Tissue Pre- RNA Loading Hybridization Protein Processing Detection Slide
Slide 105: Our Vision for Powering Multiomic Spatial Biology
Our Vision for Powering Multiomic Spatial Biology Pathology Cell and Gene Therapies Protein biomarkers CAR T, TCR T with clinical utility AAV, ASOs Cell Identification + Infectious Agents Viruses SPATIAL BIOLOGY Immune cell repertoire Bacteria (Microbiome) Established protein markers Cell Subtypes C
Slide 106: Automation Partners: Discovery to Clinical Research
Automation Partners: Discovery to Clinical Research Automated RNAscope The gold standard for biomarker and clinical development Discovery Translational Research Clinical Multiplex Protein|RNAscope Single Marker UltraPlex Multiomic Assays RNAscope Assays Novel RNA High Plex Biomarkers Dx & CDx 100-10
Slide 107: RNAscope Clinical Advantage
RNAscope Clinical Advantage Industry Leading Specificity and Sensitivity RNAscope HPV ISH Assay Evidence of Test Target Sensitivity Specificity HPV activity +++ + IHC P16 - (97) (86) + ++ DNA ISH HPV DNA - (83) (89) RNA ISH E6/E7 +++ +++ SPATIAL BIOLOGY √ (RNAscope) mRNA (97) (96) *Oropharyngeal squ
Slide 108: Executing to our Spatial Strategy
Executing to our Spatial Strategy Clinical Menu Quantitative, Algorithmic Image Analysis Tools Future Co-Detection: RNA and Protein Expansion Today Data Points Automation Protein SPATIAL BIOLOGY September 2021 Multiplexing Visual, DNA Descriptive RNA miRNA Spatial Targets Confidential. © 2023 Bio-Te
Slide 109: Fully Automated, Multiomic View of Health and Disease
Fully Automated, Multiomic View of Health and Disease Widest Menu of Omics Seamless Transition Proven Clinical Assays SPATIAL BIOLOGY mRNA| Protein | DNA Seamless Transition from Proven Clinical Assays ncRNA | miRNA | ASOs Translational to Clinical ai. HPV, EBV, CMV, IgG-K/L Splice Variants | circRN
Slide 110: Diagnostics & Genomics
Diagnostics & Genomics Diagnostic Reagents & Controls Molecular Diagnostics Spatial Biology DIAGNOSTICS & GENOMICS Confidential. © 2023 Bio-Techne® . All rights reserved. | 110
Slide 111: DGS Strategic Progress
DGS Strategic Progress BUILT OUT PRODUCT PORTFOLIO 2024 DRD MDD (Exo + ASGN) SBD Continued delivery of Best in class Exosome Market leading custom assays and based liquid biopsy RNAscope assays – now controls for OEM ExoDx Prostrate >100k with Lunaphore instr. BUILT CHANNELS DRD MDD MDD SBD DIAGNOST
Slide 112: Diagnostics and Genomics
DIAGNOSTICS AND GENOMICS Confidential. © 2023 Bio-Techne® . All rights reserved. | 112
Slide 113: Confidential. © 2023 Bio-Techne ® . All rights reserved. | 113
Confidential. © 2023 Bio-Techne® . All rights reserved. | 113
Slide 114: Financial Overview
Financial Overview Jim Hippel Chief Financial Officer Confidential. © 2023 Bio-Techne® . All rights reserved. | 114
Slide 115: FY23 Revenue Breakdown ($1.1B)
FY23 Revenue Breakdown ($1.1B) Royalties Segments Products Services 2% 7% Diagnostics & Genomics Instruments 26% 10% Consumables 81% Protein Sciences 74% APAC Geographies 6% Markets Diagnostics China 10% 17% Academia 20% FINANCIAL OVERVIEW Distributors 13% EMEA 24% Americas 60% Pharma/Biotech 50% Co
Slide 116: Deploying Capital to Maximize Shareholder Value
Deploying Capital to Maximize Shareholder Value >$3.2B capital deployed since FY13 ~$11B market cap increase since FY13 in acquisitions to expand CAPEX to support ~$2.1B portfolio & end-markets >$770mm directly to Shareholders >$291mm organic growth $266mm Strengthened core research reagents ~$48mm
Slide 117: M&A Impact to Margin and ROIC
M&A Impact to Margin and ROIC Adjusted Operating Margin Return On Invested Capital (ROIC) Asuragen 42% Acquisition 20.0% Asuragen AUTOMATED 19.0% PROTEIN ANALYSIS Acquisition 40% 18.0% Exosome Dx 17.0% 38% Acquisition 16.0% Exosome Dx ACD ProteinSimple Acquisition 36% 15.0% Acquisition $1.6B Namocel
Slide 118: Headwinds to Prior FY26 $2B Revenue Target
Headwinds to Prior FY26 $2B Rev Target • Cell & Gene Therapy inflection point delayed due to longer clinical trial processes and recent Biotech spending conservatism: ~($100M) impact $1.8B • ExoDx Prostate ramp delayed by timing of LCD reconsideration(s) to mirror NCCN guidelines and recovery of phy
Slide 119: Exiting Covid Pandemic Stronger Than Ever
Exiting Covid Pandemic Stronger Than Ever Despite the unanticipated headwinds, Bio-Techne is substantially larger and better positioned with its key growth platforms today than before Covid. Annual Total Bio-Techne: +54% Revenue: Cell & Gene Therapy: +250% (GMP Proteins: +350%) FY23 vs. FY20 Exosome
Slide 120: Growth Platforms Driving Significant Scale
Growth Platforms Driving Significant Scale Bio-Techne 2023 Long-Term Bio-Techne Potential Bio-Techne 2033 Product 2023 2033 Market Market Long-Term Bio-Techne 2033 Market End Markets Market Size Market Size Penetration Growth Rate Growth Rate Revenue Penetration Core Products ~$6B ~10% Mid-Single Di
Slide 121: A Closer Look at Cell & Gene Therapy and Diagnostics
A Closer Look at Cell & Gene Therapy and Diagnostics Deep Dive Into Cell and Gene Therapy Deep Dive Into Diagnostics Expected to drive ~$2B revenue growth from FY23 to FY33 Expected to drive ~$1B revenue growth from FY23 to FY33 • GMP protein capacity of ~$1B • ExoDx Prostate Test adoption and penet
Slide 122: Action Plans in Place to Deliver on Our Long-term Potential
Action Plans in Place to Deliver on KEY ACTION PLANS Our Long-term Potential Core Products ~$2.5B • Lead product innovation and enhance customer experience to maintain leadership in RUO proteins, antibodies, ELISAs, and small s C AGR >$2B molecule en M id-te Proteomic Analytical Instruments • Develo
Slide 123: Key 5 Year Financial Objectives
• Revenue CAGR in mid-teens • 35% - 40% Adjusted Operating Margin, depending on future M&A Key 5 Year • Adjusted EPS CAGR in high teens Financial • Operating Cash Flow ~20% CAGR Objectives • Average annual CAPEX of ~$55mm for capacity and customer digital experience by FY28 • ~$5B of “dry powder” av
Slide 124: Questions
Questions Confidential. © 2023 Bio-Techne® . All rights reserved. | 124
Slide 125: Confidential. © 2023 Bio-Techne ® . All rights reserved. | 125
Confidential. © 2023 Bio-Techne® . All rights reserved. | 125