Abcellera Biologics Inc. · NASDAQ:ABCL

Abcellera Biologics — FY2022 Earnings Presentation

23 slides from Abcellera Biologics's earnings presentation, Feb 21, 2023

  1. Slide 1: Full Year 2022 Business Update

    AbCellera FULL YEAR 2022 BUSINESS UPDATE FEBRUARY 21,2023 COPYRIGHT © ABCELLERA Exhibit 99.2

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management's beliefs and assumptions and on information currently av

  3. Slide 3: Full Year 2022 Business Update Summary

    FULL YEAR 2022. BUSINESS UPDATE SUMMARY. 1 ENGINE $915M in total cash, cash equivalents & marketable securities 10 YEARS 174 cumulative program under contract 101 PROGRAMS 101 cumulative partnered programs started 8 molecules in the clinic FULL YEAR 2022 BUSINESS UPDATE 3

  4. Slide 4: AbCellera is an antibody discovery engine

    AbCellera is an antibody discovery engine that delivers optimal clinical candidates to the clinic – and to patients – with greater precision and speed. HYPOTHESIS Investments in technology can improve the productivity of drug development. Philosophy Long-term value creation begins with building a gr

  5. Slide 5: Strategy #1 and #2

    STRATEGY #1 Be best in world in antibody therapeutics from target to the clinic. STRATEGY #2 Build a large and diversified portfolio of stakes in future antibody therapeutics. FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 5

  6. Slide 6: Be best in world in antibody therapeutics from target to the clinic

    STRATEGY #1 Be best in world in antibody therapeutics from target to the clinic. TECHNOLOGY INFRASTRUCTURE THE ENGINE EXPERTS from TARGET to PATIENTS DATA SCIENCE INTEGRATION 2x faster solve the unsolvable highest quality unprecedented scale FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA 6

  7. Slide 7: Build a large, diverse portfolio of stakes in future antibody therapies

    Strategy # 2 Build a large, diverse portfolio of stakes in future antibody therapies. 7 Copyright © ABCELLERA FULL YEAR 2022 BUSINESS UPDATE Partner- initiated programs technology development Discovery programs co-development programs pre-partnered programs

  8. Slide 8: Partner-initiated programs: Discovery programs

    FULL YEAR 2022 BUSINESS UPDATE COPYRIGHT © ABCELLERA Partner-initiated programs Discovery programs target partner-initiated Deal terms upfronts and research fees clinical milestones single-digit royalties on net sales high volume. High diversification. High potential Roi.

  9. Slide 9: Partner-initiated programs: Co-development programs

    PARTNER-INITIATED PROGRAMS Co-Development Programs TRAGET Partner-initiated DEAL TERMS Upfronts, clinical milestones, and royalty position PLUS option to co-invest in program development to maintain up to a 50% ownership position Low volume deals with optionality for concentrated positions. FULL YEA

  10. Slide 10: Technology development: Pre-partnered programs

    10 COPYRIGHT © ABCELLERA FULL YEAR 2022 BUSINESS UPDATE TECHNOLOGY DEVELOPMENT Pre-Partnered Programs T-Cell Engagers Platform 5 starts GPCRs & Ion Channels Platform 6 starts Pandemic Response Platform 1 start Technology-development efforts with potential to generate first-in-class, wholly-owned ass

  11. Slide 11: AbCellera's Capital Allocation

    11 COPYRIGHT © ABCELLERA FULL YEAR 2022 BUSINESS UPDATE 2/3 TECHNOLOGY & COMPANY BUILDING PEOPLE & PLATFORM Team development Data science Translational science Manufacturing PRE-PARTNERED PROGRAMS GPCRs and ion channels T-cell engagers Pandemic response (COVID-19) 1/3 PARTNERING PARTNERED PROGRAMS D

  12. Slide 12: Full Year 2022 Financials Update

    FULL YEAR 2022 FINANCIALS UPDATE COPYRIGHT © ABCELLERA

  13. Slide 13: One decade of engine building

    ONE DECADE OF ENGINE BUILDING. Investments ˜ 500 employees across 4 countries and 3 continents 650K+ sq.ft. of facilities lab, office, & manufacturing spaces by 2024 $ 500M+ platform investments capitalization $ 800M+ in equity raised since 2012 $ 150M+ in government contracts and financing 30%+ hel

  14. Slide 14: Strong portfolio growth

    Copyright © abcellera Full year 2022 business update Financials 14 Strong portfolio growth. Total # of Programs under contract 174 Total # of Discovery partners 40 Cumulative # of Partnered program starts 110 100 90 80 70 60 50 40 30 20 10 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 101 Without d

  15. Slide 15: Large diversified portfolio in next-gen antibody therapies

    Copyright © abcellera Full year 2022 business update Financials 15 Large diversified portfolio in next-gen antibody therapies. 57% oncology 55% human health (known) n=81 35% human health (TBD) n=52 148 Partner-Initiated Programs under contract with downstream participation are diversified across the

  16. Slide 16: Portfolio includes diverse program types that capture value

    16 copyright © abcellera Full year 2022 business update financials Portfolio includes diverse program types that capture value. Partner-Initiated discovery programs 69 starts 131 under contract co-development programs 6 starts 17 under contract technology development pre-partnered programs 12 starts

  17. Slide 17: Deepening stakes evidenced by strong growth of royalty rates

    Copyright © abcellera Full year 2022 business update Financials Deepening stakes evidenced by strong growth of royalty rates. royalty on net sales Includes range of royalty and royalty-equivalent rates in each contract, considering sales tiers and step-downs 5th /95th percentile interquartile range

  18. Slide 18: Now 8 molecules in the clinic

    Now 8 molecules in the clinic. YEAR 2022 BUSINESS UPDATE FINANCIALS MOLECULE STAGE THERAPEUTIC AREA PARTNER PROGRAM TYPE bamlanivimab (LY-CoV555) bebtelovimab (LY-CoV1404) TAK-320/DNL919 UNDISCLOSED NBL-012 NBL-015/FL-301 NEW NBL-020 IVX-01 Marketed, Emergency Use Authorization (EUA) Marketed, Emerg

  19. Slide 19: $485.4M total revenue, driven by royalties for bebtelovimab

    19 Copyright © ABCELLERA full year 2022 Business update financials $485.4M total revenue, driven by royalties for bebtelovimab. Revenue USD ROYALTIES MILESTONES LICENSING RESEARCH FEES $375.2M 2021 $485.4M $443.0M $40.8M 2022

  20. Slide 20: Operating expenses reflect ongoing investments

    20 Copyright © ABCELLERA full year 2022 Business update financials Operating expenses reflect ongoing investments. Operating Expenses USD RESEARCH & DEVELOPMENT $62.1M +$45.8M $107.9M 2022 SALES & MARKETING +$4.4M $6.9M $11.3M GENERAL & ADMIN +$13.6M $41.8M $55.5M 2021 2022 2021 2022 2021 2022

  21. Slide 21: Net earnings of $158.5M

    Net earnings of $158.5M: equivalent to $0.56 (basic) and $0.50 (diluted) per share. Earnings USD NET EARNINGS $153.5M 2021 $158.5M 2022 EARNINIGS PER SHARE: BASIC $0.56 2021 $0.56 2022 EARNINIGS PER SHARE:DILUTED $0.48 2021 $0.50 2022 FULL YEAR 2022 BUSINESS UPDATE FINANCIAL COPYRIGHT © ABCELLERA 21

  22. Slide 22: Cash flows: $900M+ in total cash, equivalents, and marketable securities

    22 COPYRIGHT © ABCELLERA FULL YEAR 2022 BUSINESS UPDATE FINANCIALS -900 million in total cash, equivalents, and marketable securities. Cash Flows USD $748M $247M Marketable Securities $476M Cash & Equivalents $25M* 31-Dec-21 $272M OPERATING $253M Marketable Securities (net) $99M Other ($353M) INVEST

  23. Slide 23: Thank you

    23 Copyright © abcellera full year 2022 business update thank you

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