Dyadic International, Inc. · NASDAQ:DYAI
Dyadic International — Investor Presentation (March 2013)
34 slides from Dyadic International's investor presentation, March 2013
Slide 1: An Industrial Scale Platform for Enzymes and Other Proteins
May 2012 DYADIC INTERNATIONAL, INC. (Symbol: DYAI) March 2013 AN INDUSTRIAL SCALE PLATFORM FOR ENZYMES AND OTHER PROTEINS
Slide 2: Safe harbor statement
Safe harbor statement Certain statements contained in this presentation are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Dyadic’s actual results, performance or achievements to be materially different from any future results, performan
Slide 3: Business overview
Business overview Dyadic is a global biotechnology company Founded in 1979 by Mark Emalfarb, Chairman, President and CEO Headquartered in Jupiter, Florida with main R&D operations in The Netherlands Efficient business model of: Funded R&D and milestone payments Licensing fees and royalti
Slide 4: Dyadic's current licensees/strategic partners
Dyadic’s current licensees/strategic partners Cellulosic Sugars Food/Feed Biopharmaceuticals Leading animal health & nutrition company Market leading food and enzyme company Major animal health & nutrition company 4
Slide 5: What is C1?
What is C1? C1 fungus A robust and versatile fungal platform for gene discovery, expression and the production of enzymes and other proteins Based on the Myceliophthora thermophila fungus, a soil-borne saprophyte that secretes cellulases and proteases Developed in the early 1990’s through a fo
Slide 6: The 20 year evolution of C1
The 20 year evolution of C1 Wild type 1st Breakthrough Genomic annotation C1 Today 1992: 1995/96: 2005-2008: 2009 - Present: Discovered C1 wild type • Fortuitous mutation • Sequenced and annotated • Developed comprehensive enzyme library strain which naturally of a C1 strain led to the C1 genome • P
Slide 7: C1's advantages over other filamentous fungi
1 C1’s advantages over other filamentous fungi Key considerations C1 advantages Benefits Low-cost raw materials Reduced costs make commercial Low density fermentation processes more economically viable and Low cost competitive Low energy input High productivity Single host organism used
Slide 8: Strong IP portfolio
2 Strong IP portfolio Exclusive Rights and Freedom to Operate Business Model Allows for Expansive Licensing Dyadic is the sole owner of the C1 fungus and Business model of out-licensing the C1 technology technology All deals are non-exclusive with respect to the use of C1 is the first and on
Slide 9: C1 commercialization history
3 C1 commercialization history Major projects / geographies Year production began Manufacturing site Company Country Fermenter size 1996 FermPro/Martek (now DSM) Dyadic USA 150,000L 2000 Polfa Tarchomin Dyadic Poland 50,000L 2009 EnMex Dyadic Mexico 30,000L 2011 Antibioticos Abengoa Spain 50,000L 20
Slide 10: C1 Overview
DYADIC’ C1 OVERVIEW
Slide 11: Development of protein hyper-producing C1-HC strains
Development of protein hyper-producing C1-HC strains Mutagenesis overview Performance comparison between wild strain and HC C1 Wild type 100 UV mutagenesis Cellulase over UV13-6 75 producer Protein (g/L) NTG* mutagenesis Viscosity (cP) 50 De-repressed NG7C-19 cellulase production UV mutagenesi
Slide 12: Development of purer single protein producing C1-LC strains
Development of purer single protein producing C1-LC strains C1 has the optionality between HC and LC background strains A B C A. Baseline (HC) C1-strain : High cellulolytic activities Diverse enzyme mixture Up to 100 g/L total protein B. Low cellulase (LC) C1 strain : Almost no celluloly
Slide 13: C1 is a rich source of industrially relevant enzymes
C1 is a rich source of industrially relevant enzymes Sequenced A large number of genes putatively ~38M base pairs encoding industrially important 97% contained in enzymes discovered: 10 large supercontigs ~70 secreted oxido-reductases ~75 lipases/esterases. ~250 Carbohydrate-active enzymes C1 Geno
Slide 14: LC-strain based library of pure single C1-enzymes
LC-strain based library of pure single C1-enzymes Examples of single enzymes produced by LC LC -based C1 library currently GlaA ChiA PgxA EgB contains 80 carbohydrate active C1 170 enzymes 130 95 The enzyme library is extremely 72 important for the development of enzyme mixes needed for the 55 h
Slide 15: LC technology enables efficient production of highly active enzymes
LC technology enables efficient production of highly active enzymes customized for specific applications Analyze market Start with a blank Commercial need canvas product launch C1 LC Strain Food, starch, alcohol & brewing Pulp & paper - High performance under broad operating conditions Personal care
Slide 16: Highly expressed designer enzyme mixtures using LC Strain
Highly expressed designer enzyme mixtures for various applications using LC Strain Examples: Soon to be launched commercial enzymes LC-1 LC-2 LC-3 LC-4 One LC-host expresses dedicated enzyme mixture Enzyme 1 Composition can be easily (20 g/L) adapted for various applications Enzyme 2 (thermostab
Slide 17: Cellulosic Biofuels and Bio-based Chemicals
CELLULOSIC BIOFUELS AND BIO-BASED CHEMICALS 17
Slide 18: C1 is one of only three leading enzymatic platforms
C1 is one of only three leading enzymatic platforms Production process Enzymatic Sugar Feedstock Pretreatment Distillation Upgrading Hydrolysis fermentation Dyadic / C1 enabled Abengoa Codexis Trichoderma BP enabled DuPont Clariant / Süd Chemie Novozymes DSM POET / DSM enabled Chemgen Amyris KL Ener
Slide 19: Value chain of a 2nd generation processes
Value chain of a 2nd generation processes Cmax-series 1. Cellulosic 2. Pretreatment 3. Enzyme treatment 4. Microbial conversion feedstock Interaction Interaction chemicals Feedstock Open up Produce fuels and Liberate C6 and C5 sugars supply structures chemicals A variety of different processes and c
Slide 20: Matching Enzyme Activity to Feed Stocks (flexibility)
Matching Enzyme Activity to Feed Stocks (flexibility) DDG’s Corn Fiber Corn Stover Wheat Straw Wood Pulp Sugar Cane Agricultural Bagasse Residues Alternative Pretreatments Dedicated enzyme cocktails: EG’s CBH’s βG Xylanases Accessory Enzymes Highest yields of sugars obtained by engineering dedicated
Slide 21: C1 has more enzyme-encoding genes than competing systems
C1 has more enzyme-encoding genes than competing systems (for biofuels and bio-based chemicals) Number of lignocellulosic enzyme-encoding genes Number Number in Genes encoding in C1 Trichoderma Endo-glucanases, Cellobiohydrolases, ~ 32 ~ 32 β-glucosidases/ β-xylosidases (GH1, GH3, GH5, GH6, GH7, GH1
Slide 22: Over 4-fold decrease in enzyme use/costs in 4 years
Over 4-fold decrease in enzyme use/costs in 4 years Enzyme dose reduction curve (glucose release) C1-G3 C1-G5 CMAX CMAX 2 CMAX 3 CMAX 4 (Beta) 2013 Great improvements have been achieved in short time, AND a lot of potential is to be realized 22
Slide 23: AlternaFuel CMAX3 compared to competitors
Dyadic’s AlternaFuel® CMAX3™ 5 mg/g compared to competitors 100 120 Relative saccharification yield (%) 80 100 80 Cmax3 G11-A CMAX3 60 Competitor gen. 2 Ctec2 Ctec2 60 Cmax 40 Competitor Ctec3 Ctec3 gen. 3 Ctec2 40 Noenzyme No No enzyme enzyme 20 20 0 0 0 20 pH5 40 pH6 60 80 pH5 pH6 t(h) CMAX3 perfo
Slide 24: CMAX3 vs Competitor gen. 3: glucose inhibition
CMAX3 vs Competitor gen. 3 Glucose inhibition CMAX3 % inhibition Competitor gen. 3 CMAX3 is significantly less inhibited by industrially relevant concentrations of glucose [glucose[ (g/L) CMAX3 shows less inhibition by glucose 10% PCS, T=50°C, t=72h, equal enzyme loadings 24
Slide 25: Viscosity is an issue in large scale biomass processing
Viscosity is an issue in large scale biomass processing 20% dry matter pretretated corn stover CMAX3 hours 90 45 80 90 40 70 Torque decrease (%) 80 Viscosity reduction occurs during the first Cont.] Percentage decrease [%] 35 60 70 hour of saccharification Percentage decrease [%] 30 60 [%cont] 50
Slide 26: CMAX is more thermophilic
elative activity after 72 hours of saccharification CMAX is more thermophilic Broad temperature profiles C1-G7-1 C1-G7-2 Competitor (Trichoderma-based) 100 CMAX G7 B7 (batch A) Ability to add enzyme in 90 CMAX G7 D9 (batch B) early stage after 80 Competitor Cellic gen. 2 Ctec 2 thermo-pretreatment
Slide 27: C1 enzymes remain effective at higher pH levels
C1 enzymes remain effective at higher pH levels C1 strains have higher yield Pre-treated corn stover Wood pulps CMAX Competitor gen. 2 CMAX Competitor gen. 2 66% 70% 90.2% 80% 68% Glucose (g/L) >36% 36.5% Glucose yield T=50°C, pH=6.5, equal enzyme dose, % indicates glucose conversion yield At pH of
Slide 28: C1 enzymes even perform under high alkaline conditions
C1 enzymes even perform under high alkaline conditions Paper sludge at high dry matter loading and high alkalinity 90 Yield, 90% 80 70 Yield, 70% Glucose (g/L) 60 50 40 Solid state Liquefaction, Solubilization 30 (t=0) after few hours after 24h 20 Alkalinity of paper sludge prevented competitors’
Slide 29: Leads for short term improvement of CMAX3: towards CMAX4β
Leads for short term improvement of CMAX3: towards CMAX4β Example optimized cellulose hydrolysis: Assessment C1-enzyme X 82,00 90,8 glucan-to-glucose conversion(%) 80,00 CMAX3 was partly (5% and 10%) 88,8 replaced by C1-enzyme X 78,00 [Glucose] (g/L) 86,8 76,00 84,8 74,00 82,8 72,00 80,8 70,00 78,
Slide 30: Leads for short term improvement of CMAX3: xylan hydrolysis
Leads for short term improvement of CMAX3: towards CMAX4β Example optimized xylan hydrolysis: assessment C1-enzyme Y 3 fold more xylose CMAX1 CMAX3 CMAX3+ Blanc ~5% enzyme Y Saccharification of xylan part by CMAX3 part was greatly enhanced by C1-enzyme Y Experimental mildly pretreated PCS (10% DM) (
Slide 31: Leads for short term improvement of CMAX3: +34% fermentable sugars
Leads for short term improvement of CMAX3: towards CMAX4β Optimized cellulose+xylan hydrolysis: asses C1-enzyme Y +34% fermentable sugars CMAX1 CMAX3 CMAX3+ Blanc ~5% enzyme Y Total sugars release by CMAX3 part was greatly enhanced by C1-enzyme Y Experimental mildly pretreated PCS (10% DM) (24h, 50°
Slide 32: CMAX4-β expected soon
CMAX4-β expected soon Improved enzyme mixture for more efficient release of glucose and xylose Particularly suited for milder pretreated feedstocks rich in xylan (hemicellulose) Produced by one dedicated C1-strain (no blend): important for easy on-site production Entirely based on self-cloni
Slide 33: C1 advantages for lignocellulosic enzymes
C1 advantages for lignocellulosic enzymes Proven at the large scale (Abengoa, Codexis. Dyadic) Robustness Broad temperature and pH range Fast viscosity reduction Less inhibition More genes encoding for lignocellulosic enzymes Versatile genetic make-up Ability to develop feed stock ta
Slide 34: Thank You
DYADIC’ THANK YOU
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