Cibus, Inc. · NASDAQ:CBUS
Cibus — Calyxt — Merger or Acquisition (April 2023)
25 slides from Cibus's merger presentation, Apr 19, 2023
Slide 1: The Future of Breeding: Changing the Scale of Trait Development
Exhibit 99.2 The Future of Breeding™ C h a n g i n g t h e S c a l e o f Tr a i t D e v e l o p m e n t Pr o p o s e d N A S DA Q T i c ke r : C B U S A p r i l 2 0 2 3
Slide 2: The Market Opportunity: Addressing the Crisis in Farming Productivity
The Market Opportunity Addressing the Crisis in Farming Productivity
Slide 3: Breeding is How Seed Co's Develop Traits
Breeding is How Seed Co’s Develop Traits The Industry: Seed Co’s Develop Traits and Charge Trait Fees for Productivity Gains. A Seed Company’s Success depends on it continually Improving Its Traits. Conventional Breeding Has Severe Scale & Time Limitations 3
Slide 4: Gene Editing Changes the Scale
Gene Editing Changes the Scale High Throughput Gene Editing Systems that Operate as an Extension of Conventional Breeding Trait Development in a Fraction of the Time of Conventional Breeding “Nature Identical” Traits Traits from Trait Machine that Cibus are conventional breeding like. Bio-Mfg. Stand
Slide 5: Addresses the Pressing Need From Climate Change Crisis
Addresses the Pressing Need From Climate Change Crisis due to Rapidly Changing Environment for Diseases, Pests & Resources Billions of Acres Globally Being Impacted by Common Global Challenges Gene Editing is Virtually the Only Tool that Can Address Climate Challenges at Scale 5
Slide 6: Leader in Gene Editing in Agriculture Overview
Leader in Gene Editing in Agriculture Overview
Slide 7: Key Management Team
Key Management Team Greg Gocal, PhD Rory Riggs Peter Beetham, PhD CHIEF SCIENTIFIC OFFICER CHIEF EXECUTIVE CHIEF OPERATING OFFICER EXECUTIVE VICE PRESIDENT OFFICER PRESIDENT CHAIRMAN CO-FOUNDER CO-FOUNDER CO-FOUNDER Noel Sauer, PhD Wade King, MD Rosa Cheuk Kim, JD SENIOR VICE PRESIDENT CHIEF FINANCI
Slide 8: Cibus, Calyxt Merger Brings Together Pioneers
Cibus, Calyxt Merger Brings Together Pioneers See: Cibus.com for Announcement & Details https://www.Cibus.com/press-release.php Merger Combines Key Technologies in Ag. Gene Editing Productivity Traits Sustainable Ingredients Gene Edited Plants Plants, Microorganisms Oil Seeds Cereals Yarrowia Plant
Slide 9: The Future of Breeding Background
The Future of Breeding™ Background FOUNDED EMPLOYEES 2001 ~200 Products & Technology HEADQUARTERS San Diego, CA Products 1) Productivity Traits Commercial Progress Productivity traits that make crops more adaptable to the environment, have - Pipeline of 6 Productivity Traits increased yields or requ
Slide 10: Technology & Business
Technology & Business RTDS®/Trait Machine™ - Revolutionary Breeding Platform Business Model - Tech. Extension of Conventional Breeding/Trait Development 10
Slide 11: RTDS/Trait Machine: Proprietary, Non-GMO High Throughput Gene Editing System
RTDS/Trait Machine: Proprietary, Non-GMO High Throughput Gene Editing System that Operates as an Extension of Conventional Breeding Trait Development in a Fraction of the Time! Gene Editing Trait Technology GMO Trait Technology Direct Editing without Genetic Modification Integrating Foreign DNA/Tran
Slide 12: Positive Regulatory Momentum
Positive Regulatory Momentum Global Movement to Approve Gene Editing Similar to Conventional Breeding The Driving Force is the Climate The EU is a Key Driver - The European Union has announced that in Q2 2023, they will release their proposals for new gene editing regulations. - EU represents > 100
Slide 13: Trait Machine Represents a Step Change in Breeding
Trait Machine Represents a Step Change in Breeding This is the Future of Breeding! 1– Prototyping Runs: Accelerates Development & Proof of Concept 2– Production Runs: Accelerates Speed to Market. Trait Machine Trait Machine directly Once a trait is developed, Trait Machine accelerates accelerates pr
Slide 14: Business Model: Traditional Trait Distribution Model
Business Model: Traditional Trait Distribution Model: Traits Distributed in Seeds by Seed Co’s Seed Co’s Pay Royalties to Cibus for IP Related to Traits WHO TURN TO TURN TO Farmers Seed Companies Plant Trait Developers Challenged by the impacts of Seed germplasm & crop specific Develop productivity
Slide 15: Royalty Revenue Model
Royalty Revenue Model Industry: Long History of Trait Licensing & Royalty Payments Royalties (Trait Fees) based on “Value Per Acre” Trait Fees NA & SA Trait Market $2.1B Soybean ➢ Accessible Acres ~400 MM $1.0B ➢ Trait Fee Acres Cotton Major Crops 2020 Est. > 300 MM Trait Fees (NA & SA) $0.4B ➢ Avg.
Slide 16: Cibus Pipeline
Cibus Pipeline 16
Slide 17: Cibus has Developed a Broad Initial Trait Pipeline
Cibus has Developed a Broad Initial Trait Pipeline Cibus Pipeline Indicative of Productivity Advantage of RTDS Addressable TRAIT ACRES for Canola, Rice, Soybean 6 Traits: 4 of the 6 Apply to Multiple Crops ~250 MM Acres Note: Slide 25 for data sources & assumptions. Acres based on Canola, Rice, Soyb
Slide 18: Initial Commercial Model
Initial Commercial Model Initial Trait Machine Platforms: Canola, Rice & Soybean First Traits in Canola & Rice have Transferred to Customers Addressable Acres: ~250 MM* Canola Rice Soybean MM MM MM TAM: TAM: 46 ACRES 11 ACRES TAM: 190 ACRES Soybean Traits Traits Traits 5 3 4 Lead Customer: Nuseed Le
Slide 19: Lead Trait: PSR: Pod Shatter Reduction - Canola/WOSR
st Lead 1 Trait: PSR: Pod Shatter Reduction - Canola/WOSR Initial Trait Acres ~15 MM POD Shatter Reduction Commercial Progress: Developed & Transferring Sheaths or pods shatter in rain/high winds, causing yield losses of 10% or more. Customers 10 PSR reduces pod shatter . Est. Acres for and associat
Slide 20: Our Blockbuster Trait: Sclerotinia White Mold Resistance
st Our 1 Blockbuster Trait Sclerotinia White Mold Resistance - Canola, Soybean Est. Trait Fees Acres ~80 MM, Exp. Royalties > $500 Million Major Crops Canola/ Soybean Sclerotinia Resistance Sclerotinia WOSR Resistance Builds plant’s defense mechanisms Est. Trait to prevent Sclerotinia from infecting
Slide 21: Corn & Wheat Platforms Soon
Corn & Wheat Platforms Soon Timeline: Wheat Trait Machine Platform Expected by Yearend 2024, Corn Platform Expected by Yearend 2025 Addressable TRAIT ACRES Two Cibus Multi-Crop Traits Applicable to Corn and Wheat for All 5 Major Crops * Acres based on Corn and Wheat in N.A..,S.A., EU ~530 MM Acres N
Slide 22: Our Focus: Multi-Crop Blockbusters
Our Focus: Multi-Crop Blockbusters ➢ Traits that Address >100 MM Acres - Massive Impact of Global Farming Productivity ➢ Expected Traits Royalties: $5 to $15 - Massive Economic Opportunity Target Areas Sustainable Ingredients Resistance Traits Efficiency Traits PLANT OUTPUTS CLIMATE CHANGE Renewable
Slide 23: Building Blocks: Blockbuster Crop Platforms
Building Blocks: Blockbuster Crop Platforms Trait Machine Enables Stacking Multiple Traits in a Specific Crop With Multiple Stacked Traits, Individual Crops can be Blockbusters . st Canola is Cibus’ 1 Crop Platform, Royalty Potential > $1B Est. Cibus Trait Acres Est. Trait Royalty Pod Shatter (PSR)
Slide 24: Business Strategy
Business Strategy: ➢ Build Crop Specific Trait Machine Platforms for all 5 Major Crops ➢ Build a Family of Blockbusters Directed at Farming Productivity/Sustainability Trait Fees $2.1B Soybean The Underlying Scale of Traits Major Crops $1.0B NA&SA ➢ Major Traits are Applicable Cotton ~400 MM Acres 2
Slide 25: Disclaimer
Disclaimer Securities Law Matters Acreage Data This presentation has been prepared by Cibus Global, LLC (the Company ), and the Company This presentation has 2 available acreage calculations: TAM-Total Accessible Acres and Trait is responsible for its contents. It shall not constitute an offer, nor