Immucell Corporation · NASDAQ:ICCC
Immucell — Investor Presentation (May 2014)
32 slides from Immucell's investor presentation, May 19, 2014
Slide 1: ImmuCell Corporate Presentation May 2014
ImmuCell NasdaqCM: ICCC Corporate Presentation May 2014
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to: projections of futur
Slide 3: Company Overview
Company Overview ImmuCell (NasdaqCM: ICCC) is a growing animal health company that is developing, manufacturing and selling products that improve animal health and productivity in the dairy and beef industries Approved and marketed products (principally First Defense â ), as well as strong developme
Slide 4: Strategic Focus
Strategic Focus ImmuCell is focused on leveraging the strength of its balance sheet and market position of First Defense®, to bring Mast Out® to market. This treatment for subclinical mastitis has the potential to be a significant game changer in the dairy industry over the coming years. Large Devel
Slide 5: Industry Overview
Industry Overview ImmuCell’s products are currently focused on the North American dairy and beef cattle markets, although significant market opportunities exist in other international territories. Calf Births Annually US Dairy Canada Dairy US BEEF Canada Beef Source: US Department of Agriculture (US
Slide 6: Economics of Dairy Industry
Economics of Dairy Industry Average Class III Milk Price (for the year ended December 31, except in 2014 Average Milk-to-Feed Price Ratio (for the year ended December 31, except in 2014) Source: US Department of Agriculture (USDA), 2014 $14.41 $18.37 $17.44 $17.99 $23.04 2.26 1.88 1.52 1.74 2.52 $30
Slide 7: ImmuCell Currently Marketed Products and Expected Approvals of New Products
ImmuCell Currently Marketed Products and Expected Approvals of New Products
Slide 8: Product Portfolio
Product Portfolio ImmuCell’s products are designed to address some of the most common and costly diseases affecting the dairy and beef industries Product Status First Defense® Wipe Out ® Dairy Wipes California Mastitis Test (CMT) Claim to prevent calf scours caused by rotavirus Mast Out® Marketed Ma
Slide 9: First Defense is best in class
First Defense® is best in class First Defense(R) is the only USDA-licensed, orally delivered scours (diarrhea) preventive proven to aid in the prevention of calf scours caused by E. coli K99 and coronavirus--the two major causes of scours. The leading competitive product is a modified-live virus vac
Slide 10: Competitive Product Comparison
Competitive Product Comparison Product First Defense Calf Guard Bovine Ecoliz Mode-of-Action Two-part: immediate immunity through bovine antibodies protecting at the gut level & immunoglobulins with high absorption into bloodstream Forces calf to mount an immune response to a vaccine to develop prot
Slide 11: First Defense Technology
First Defense Technology First Defense Technology™ is a unique whey protein concentrate processing method. Colostrum from grade-A dairies is collected and uniquely concentrated and freeze dried. This un-denatured form of colostral globulin proteins helps provide calves a strong start when administer
Slide 12: Sales and Marketing Strategy
Sales and Marketing Strategy Growing sales force communicating the First Defense® value-proposition directly to end-users while multiplying their efforts through distribution partners. New director of sales and marketing has developed marketing campaigns and targeted sales strategies that have taken
Slide 13: Additional Marketed Products
Additional Marketed Products Wipe Out ® Dairy Wipes Wipe Out ® is a naturally safe antimicrobial that attacks bacteria on contact. The use of an antimicrobial to clean and sanitize the teat area before and after milking has been proven to reduce the incidence of mastitis in cows California Mastitis
Slide 14: Lead Product in Development
Lead Product in Development Immucell Lead Product in Development
Slide 15: Mast Out is a Nisin-based intramammary treatment for subclinical mastitis
Mast Out® is a Nisin-based intramammary treatment for subclinical mastitis (inflammation of the mammary gland) in lactating cows. Mastitis is the most costly and common disease affecting the dairy industry. ImmuCell has a proprietary and patented process to produce pharmaceutical-grade Nisin, effect
Slide 16: Mast Out, for the Treatment of Subclinical Mastitis in Lactating Dairy Cows
Mast Out ® , for the Treatment of Subclinical Mastitis in Lactating Dairy Cows Benefits of Mast Out® Zero milk discard and zero meat withhold (in the United States); Higher quality of milk by having lower somatic cell counts Resulting in increased milk premiums to the producer and longer shelf life
Slide 17: Mastitis Treatment Options and Cost of Dumped Milk
Mastitis Treatment Options and Cost of “Dumped” Milk Range in Costs Associated with Milk Discard Cost of Dumped Milk (1) Active Brand Name Company Treatment Days Discard Days Total Dump Days Low Range High Range Sodium Cloxacillin Dariclox-RX Merck 1.5 2 3.5 $ 51 $ 68 Amoxicillin Amoxi-Mast Merck 1.
Slide 18: Mast Out: Upcoming Milestones
Mast Out ® : Upcoming Milestones Development Item Date Completed Zero milk discard period and zero meat withhold period granted by the FDA. Q2 2011 Mast Out® received the Target Animal Safety Technical Section Complete Letter from the FDA. Q2 2012 Mast Out® received the Effectiveness Technical Secti
Slide 19: Mast Out: Nisin Plant Construction
Mast Out ® : Nisin Plant Construction In order to complete the Chemistry, Manufacturing and Controls (CMC) Technical Section to the FDA, Nisin plant construction is required. In the third quarter of 2013, ImmuCell’s Board of Directors approved the investment of approximately $1.5M to acquire process
Slide 20: Mast Out: Review
Mast Out ® : Review Possible game changer in the treatment of Mastitis Zero milk discard; Zero meat withhold The bulk of the development is completed Construction is underway for CMC submission Targeting 2016 NADA approval and product launch Targeted gross margin: 50%+, subject to COGS verification
Slide 21: ImmuCell Financial Review
ImmuCell Financial Review
Slide 22: Consistent Annual Revenue Growth
Consistent Annual Revenue Growth $5.1 2011 $5.4 2012 $6.0 2013 $ in Millions
Slide 23: Quarterly Revenue Analysis
Quarterly Revenue Analysis Total Product Sales $ in Millions Seven (7) consecutive quarters of positive sales growth, in comparison to the same quarters of the prior year. Thirteen (13) quarters of positive sales growth (in comparison to the same quarter of the prior year) out of the last fourteen (
Slide 24: Net (Loss) Income
Net (Loss) Income ($409,510) LPS = ($0.14) 2011 EPS = $0.03 $89,512 2012 $117,395 EPS = $0.04 2013
Slide 25: Highlights / Stats
Highlights / Stats As of March 31, 2014 Cash and investments: $5.47M $1.81 per share Net Working Capital: $6.0M $1.97 per share Total Stockholders’ Equity: $9.4M $3.10 per share Long-term bank debt: $847,000 Shares Outstanding: 3.0M Total NOLs: $3.8M Expire 2028 – 2031 Ticker Symbol: ICCC Stock pric
Slide 26: Highlights / Strategic Assets
Highlights / Strategic Assets Strong balance sheet $5.47 million in cash and long-term investments as of March 31, 2014 Profitable core operating results Help to fund investments in R&D First Defense® and other marketed products Consistent revenue growth with an emphasis on further expansion through
Slide 27: ImmuCell Appendix
ImmuCell Appendix
Slide 28: Company Leadership
Company Leadership Executive Management Team Michael F. Brigham President and CEO Officer since 1991; appointed CEO in 2000 Joseph H. Crabb, Ph.D Vice President and Chief Scientific Officer Officer since 1996 Renowned scientist, Dartmouth Medical School, postdoctoral studies and professor at Harvard
Slide 29: Contact Information
Contact Information ImmuCell Corp. NasdaqCM: ICCC Michael Brigham President and CEO 56 Evergreen Drive Portland, ME 04103 (207) 878-2770 x3106 www.immucell.com Investor Relations Lytham Partners, LLC ICCC@lythampartners.com Robert Blum Joseph Diaz Joe Dorame Adam Lowensteiner (NY) (602) 889-9700 – P
Slide 30: Animal Health Industry
Animal Health Industry Animal Health Companies Distributors Diagnostics and Services Companies Aratana Therapeutics (PETX) Henry Schein, Inc. (HSIC) Abaxis (ABAX) Bayer Animal Health (BAYRY)MWI Veterinary Supply (MWIV) Advanced Animal Diagnostics (Private) Boehringer Ingelheim Animal Health (Private
Slide 31: Customer Testimonials
Customer Testimonials “First Defense is like an insurance policy that pays for itself in spades. Say you cut your death loss from, conservatively, 8 to 2 percent. If you have 300 calves a month, that’s 12 more calves a month or 144 calves a year more that you are able to raise. That fuels the growth
Slide 32: Key Publications Related to the Subclinical Mastitis Market Opportunity
Key Publications Related to the Subclinical Mastitis Market Opportunity Santman-Berends, IM. (2012, May). Incidence of subclinical mastitis in Dutch dairy heifers in the first 100 days in lactation and associated risk factors. J Dairy Sci, 95 (5) , 2476-2484. Roesch, M. (2007, February). Subclinical