Microbix Biosystems Inc. · TSX:MBX
Microbix Biosystems — Investor Presentation (November 2022)
24 slides from Microbix Biosystems's investor presentation, Nov 25, 2022
Slide 1: Infectious Disease Testing Specialists – Corporate Presentation
Infectious Disease Testing Specialists Corporate Presentation
Slide 2: Forward-looking statements
• This presentation contains forward-looking statements about trends and objectives. • Risks and uncertainties related to such statements could cause actual outcomes to differ materially. • Such risks include, among others, those related to operations, customers or markets, growth drivers, products
Slide 3: Microbix Biosystems Inc.
MICROBIX BIOSYSTEMS INC. Develops, makes, and sells biological International leader in supplying products for human health, with over 100 native “antigens”, as a critical part of skilled employees and sales approaching medically important infectious C$2.0M per month. disease tests. This segment aver
Slide 4: Management team
Cameron L. Groome Jim Currie, CPA Ken Hughes, Ph.D. CEO, President, and Director Chief Financial Officer Chief Operating Officer • Has served on the MBX BoD and AC since • Joined MBX as CFO in 2016 after • Executive and biomedical scientist with 25 2012, and was appointed CEO in 2017. several CFO ro
Slide 5: Board of directors
Martin Marino Dr. Peter M. Blecher Mark A. Cochran, Ph.D. Board Chairman Director HRGC Chair • Mr. Marino has more than 30 years’ • Dr. Blecher worked as an Emergency Room • Dr. Cochran was Executive Director of Johns experience in corporate legal roles and physician for ~25 years. Hopkins Medicine.
Slide 6: TSX Listed, Symbol: MBX
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Slide 7: Microbix's Three Sales-Driven Business Divisions @ ~C$ 20M Ttl
Microbix’s Three Sales-Driven Business Divisions @ ~C$ 20M Ttl QAPs for EQA/PT DxTM Medium for Global leader in native agencies, Dx OEMs, and Specimen Collection antigen production Clinical Laboratories • A leading supplier to the • Ontario Together Fund grant of • Critical supplier to >100 agencies
Slide 8: Microbix's Manufacturing Capabilities
Microbix’s Manufacturing Capabilities QAPs @ 235 Watline Antigens @ 265 Watline DxTM @ 275 Watline • 10, 000 ft2 • 14, 000 ft2 • 10, 000 ft2 • Semi-automated and automated • Core antigen production systems • Initial capacity at 100,000 DxTM QAPs production and testing laboratory units/wk • Designed
Slide 9: Microbix's Three Sales-Driven Business Divisions
Microbix’s Three Sales-Driven Business Divisions 01 QAPs™ 02 DxTM™ 03 Native Antigens 9
Slide 10: 01. Quality Assessment Products
01. Quality Assessment Products Microbix identified an important role for its expertise → The QAPs™ Opportunity beyond antigens for immunoassays: For Quality Assessment Products (QAPs™). Proper Quality Control (QC) of infectious disease tests is critical to health outcomes. • Optimal QC requires emu
Slide 11: 01. Quality Assessment Products
01. Quality Assessment Products ™ Microbix is continuing to expand its line of QAPs. Includes both liquid vial and FLOQSwab® formats. Already comprises >80 discrete SKUs. QAPs have competitive advantages 1. Performance – QAPs are whole- 2. Formats – Having vials & swabs genome and whole-workflow to
Slide 12: 01. Quality Assessment Products
01. Quality Assessment Products • Licensed/ registered for sale in Canada, EU and U.S. (vial and/or swab formats) C$ 10s of millions in sales targeted – • Sold directly to clinical lab chains or via distributors (via 9 Cos., into 30+ countries) >US$ 30/unit MRSP, for labs • Growing sales of leading
Slide 13: 01. Quality Assessment Products
01. Quality Assessment Products ™ PROCEEDx™ – For qualifying new REDx Controls™ – To support the formal QC instruments and training technicians and QA programs of clinical laboratories To Dx OEMs, Labs, & Distributors To Clinical Labs & Distributors Sales began in f2018 and exceeded $1.0M f2021. Sal
Slide 14: 02. VTM for Ontario & others
02. VTM for Ontario & others ™ Specific Microbix Activities: → Why this Project? Identified Need of Ontario Applied to OTF Program Outreach to MEDJCT Project Selected by Ontario Expertise in large-scale biological Security of supply being key Supported due diligence by Ontario medium production enab
Slide 15: 02. VTM for Ontario & others
02. VTM for Ontario & others Every PCR test conducted requires a vial of VTM, all of which was imported. Sales Potential for VTM VTM needs expected to continue, driven by both respiratory viruses and the ongoing need to test for many other infectious organisms. • Microbix can now produce at • Normal
Slide 16: 03. Antigens
03. Antigens Immunoassays Antigens Diagnostic tests that measure an antigen-antibody Any foreign substance that evokes an antibody response reaction, and for infectious diseases, can: and binds to an antibody. Antigens are an essential and a)suggest the presence of a pathogen, core component of immu
Slide 17: 03. Antigens
03. Antigens As healthcare re-stabilizes, Antigen sales may benefit from greater Antigens comprise <50% of global attention to respiratory and infectious disease testing as a total sales, changed from 90% result of the COVID-19 pandemic. historically due to growth of other segments. In the near In t
Slide 18: 04. Financials
04. Financials COVID-19 changed sales for antigens and QAPs, while creating its own opportunities. • Microbix has created & launched leading products with its new QAPs & VTM. • In fiscal 2021, QAPs sales growth overcame the slowdown in antigen sales, with record sales of $18.6M & QAPs sales +208% Y/
Slide 19: 04. Financials
04. Financials Revenue Gross Margin 20,000,000 12,000 100% 10,000 80% 15,000,000 8,000 60% 10,000,000 6,000 40% 5,000,000 4,000 2,000 20% 0 0 0% 2017 2018 2019 2020 2021 YTD 2022 2017 2018 2019 2020 2021 YTD 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Gross Margin (%) Financial EBITDA $000's D/E & Current Ratio Pe
Slide 20: 04. Financials
04. Financials Company Est. Ticker Currency Price EV EV/Revenue EV/EBITDA iA Capital Markets has a BUY Meridian Bioscience Inc. Source Con NASDAQ: VIVO USD $31.77 (M) $1,333.4 2021A 4.2 2022E 4.0 2023E na 2021A na 2022E na 2023E na rating and a 12-month target price of C$ 1.25. Thermo Fisher Scienti
Slide 21: 04. Financials
04. Financials Strong Annual Sales Growth Record year in F2021, Record YTD F2022 Generating positive Cash Improving Gross Margins across Flow from Operations all product lines Well-capitalized for facility Growing QAPs offerings (to >80 improvements, automation, production SKUs), more registered/lau
Slide 22: Thank You
THANK YOU Corporate Presentation Cameron Groome CEO, President, and Director cameron.groome@microbix.com 22
Slide 23: 05. Kinlytic Urokinase
05. Kinlytic® Urokinase → Kinlytic® Urokinase Specific Kinlytic Activities: Microbix’s expertise in biologicals Refined Project Scope Established Precise Costs led to its securing rights to this Catheter Clearance Indication Quotes from qualified vendors clot-buster drug, which is U.S. market as a v
Slide 24: 05. Kinlytic Urokinase
05. Kinlytic® Urokinase The U.S. return of Kinlytic Clearing blood clots from I.V. → Kinlytic® Urokinase starts with its FDA-approved catheters is now a >US$350 million Urokinase is a human protein use for catheter clearance. monopoly in the USA, held by tPA that dissolves blood clots and and growin
Microbix Biosystems — Investor Presentation (November 2022) on 6ix