Slide 1: Repligen Acquires Bioprocessing Business of Refine Technology
Exhibit 99.2 Repligen Acquires Bioprocessing Business of Refine Technology June 3, 2014
Slide 2: Participants
Participants • Walter Herlihy, President and CEO • Howard Benjamin, VP Business Development • Sondra Newman, Director Investor Relations Safe Harbor Statement. This presentation contains forward looking statements. These statements are subject to risks and uncertainties which may cause our plans to
Slide 3: Building a Best-in-Class Bioprocessing Company
Building a Best-in-Class Bioprocessing Company • Repligen is a leading provider of innovative products that increase efficiency in the manufacture of biologic drugs • Strong organic growth supplemented by timely strategic acquisitions has substantially increased revenues • Refine Technology acquisit
Slide 4: Refine Technology Profile
Refine Technology Profile • Refine manufactures and sells the ATF System, a filtration device that significantly increases biologic product yields in fermentation by continuously removing waste materials, enabling cells to grow to high density • The ATF System is the market-leading device for this a
Slide 5: Refine Acquisition: Financial Terms
Refine Acquisition: Financial Terms • Definitive agreement to acquire the business of Refine Technology for $20.5 million cash and 215,285 shares of Repligen stock; total upfront = $24.5 million • Deal includes future contingent payments of up to $8.75 million based on defined revenue targets • Inte
Slide 6: Benefits of the Transaction
Benefits of the Transaction • Increases annual product revenue by approximately 15% • ATF System strengthens our brand and technology base • Increases our presence in fermentation • Multiple opportunities to drive growth: • Increase direct sales to overlapping customer base • Develop applications da
Slide 7: Expanded Product Portfolio
Expanded Product Portfolio Filtration devices that Sell directly ATF Systems enable high density cell to end users* growth during fermentation Expanded Distributor portfolio to Used to improve cell growth Growth Factors and productivity during co-promote support LONG® R3 IGF-1 fermentation to end us
Slide 8: Expansion of Commercial Organization
Expansion of Commercial Organization • Tony Hunt, COO • Former President of the Bioproduction business at Life Technologies; $300M+ business • Product lines: Gibco (fermentation) and Poros (purification) • Increasing size of commercial organization • Sales managers in more geographies: U.S., EU, Asi
Slide 9: Financial Guidance for 2014
Financial Guidance for 2014 2014 2014 Comment Previous Revised Product Sales $52-$55M $56-$59M ATF ~$3.5-4M in H2 2014 Inventory revaluation, Product Gross Margin ~53% 51%-53% relocation expenses R&D ~$5.0M ~$5.5M ATF Single Use +$500K $14-$15M $15-$16M Sales expansion, SG&A Deal expenses Includes $
Slide 10: Summary
Summary • Favorable acquisition of Refine Technology supports corporate strategy and expanded market presence • Next steps: • Q4 2014 – Complete expansion of commercial organization • Q1 2015 – Complete integration of Refine’s operations • H1 2015 – Launch single-use ATF product line • We are positi