Bio-techne Corp · NASDAQ:TECH
Bio-techne — J.P. Morgan Healthcare Conference 2022
28 slides from Bio-techne's conference presentation, January 2022
Slide 1: Where Science Intersects Innovation: Bio-Techne Corporate Presentation
WHERE SCIENCE INTERSECTS INNOVATION ™ Bio-Techne Corporate Presentation January 2022 1 © 2022 Bio-Techne®. All rights reserved.
Slide 2: Safe Harbor Cautionary Statements
SAFE HARBOR CAUTIONARY STATEMENTS This presentation contains “forward-looking Forward-looking statements are neither historical This presentation also contains non-GAAP statements” within the meaning of the facts nor assurances of future performance. financial information. Management uses this feder
Slide 3: Overview
OVERVIEW 3 © 2022 Bio-Techne®. All rights reserved.
Slide 4: Business Overview
PRESIDENT AND CEO BUSINESS OVERVIEW Chuck Kummeth HEADQUARTERS 10% 7% 2% Minneapolis, MN INSTRUMENTS SERVICES ROYALTIES NUMBER OF EMPLOYEES PROTEINS ANTIBODIES IMMUNOASSAYS ~2,700 WORLDWIDE PRESENCE 35 Locations AUTOMATED PROTEIN ANALYSIS SPATIAL LIQUID 81% FY2021 REVENUES BIOLOGY BIOPSY $931M NASDA
Slide 5: FY21 Revenue by Customer Type & Geography
FY21 REVENUE BY CUSTOMER TYPE & GEOGRAPHY 18% 17% DISTRIBUTORS ASIA 18% 26% OEM EMEA 41% 23% PHARMA/BIOTECH 57% AMERICAS ACADEMIA OVERVIEW $931M 5 © 2022 Bio-Techne®. All rights reserved. CONFIDENTIAL
Slide 6: Four Key Strategies for Sustained Growth
FOUR KEY STRATEGIES FOR SUSTAINED GROWTH OVERVIEW 6 © 2022 Bio-Techne®. All rights reserved. CONFIDENTIAL
Slide 7: Laying the Foundation for a Sustainable Future
LAYING THE FOUNDATION FOR A SUSTAINABLE FUTURE E N V I R O N M E N TA L SOCIAL GOVERNANCE • Continual progress toward sustainability • Diverse and inclusive workplace: • Board membership includes: at largest global manufacturing site: • 50% of global workforce are female • Diverse membership • ISO 1
Slide 8: An Active History of M&A
AN ACTIVE HISTORY OF M&A Focus on Internal Investment Disciplined M&A approach has created an organic growth engine OVERVIEW Revenue ($ million) Organic Growth (%) 8 19 © 2022 Bio-Techne®. All rights reserved. CONFIDENTIAL
Slide 9: Wilson Wolf Agreement
WILSON WOLF AGREEMENT • Announced agreement with Wilson Wolf for potential ownership investment and future acquisition • Potential 20% ownership investment for ~$257M in total consideration upon Wilson Wolf achieving ~$92M in revenue or ~$55M in EBITDA • Agreement to acquire Wilson Wolf for addition
Slide 10: Financial Results Under Current Leadership
FINANCIAL RESULTS UNDER CURRENT LEADERSHIP 22% 362 352 246 205 10% 244 239 182 9% ~13% 170 208 144 143 6% 6% 198 139 ~11% 190 137 4% 184 124 3% 169 4% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 OVERVIEW OR
Slide 11: Our Segment Structure
OUR SEGMENT STRUCTURE PROTEIN SCIENCES DIAGNOSTICS & GENOMICS PROTEOMIC PROTEOMIC DIAGNOSTIC MOLECULAR SPATIAL RESEARCH REAGENTS ANALYTICAL TOOLS REAGENTS DIAGNOSTICS BIOLOGY Develop and manufactures Manual and automated Develops and manufactures Develops and Advanced, tissue biological reagents use
Slide 12: Our Focus
OUR FOCUS 12 © 2022 Bio-Techne®. All rights reserved.
Slide 13: Protein Sciences
PROTEIN SCIENCES PROTEINS ANTIBODIES I M M U N OA S S AYS INSTRUMENTS OUR FOCUS 13 © 2022 Bio-Techne®. All rights reserved. CONFIDENTIAL
Slide 14: Proteomic Research Reagents
PROTEOMIC RESEARCH B I O -T E C H N E C I TAT I O N S * 20,000 REAGENTS 0 2015 2016 2017 2018 2019 TOTAL ADDRESSABLE MARKET: PROTEINS ANTIBODIES ~$3B • Proteins sold with optimal bio-activity • Full length proteins with native protein structure MARKET GROWTH: assay, highest quality, lot to lot consi
Slide 15: Key Proteomic Research Reagent Applications
KEY PROTEOMIC RESEARCH REAGENT APPLICATIONS PROTEINS ANTIBODIES Cell & Gene Therapy (GMP Proteins) Cell Imaging BRANDS KNOWN FOR HIGH BIOACTIVITY Dx Controls & Cell Growth & Blocking/ Immunoassay Calibrators Differentiation Activation AND CONSISTENCY WORLDWIDE Antibody Therapeutic Western Blot Produ
Slide 16: Proteomic Analytical Tools
PROTEOMIC ANALYTICAL TOOLS I M M U N OA S S AYS • Market leading portfolio of single analyte & multiplex immunoassays TOTAL ADDRESSABLE MARKET: • Key supplier to Luminex testing platform $2B-$3B • Quantikine ELISAs most referenced/published ELISAs in literature MARKET GROWTH: Mid-Single Digit SIMPLE
Slide 17: Diagnostics & Genomics
DIAGNOSTICS & GENOMICS S PAT I A L B I O LO G Y MOLECULAR DIAGNOSTIC DIAGNOSTICS REAGENTS OUR FOCUS 17 © 2022 Bio-Techne®. All rights reserved. CONFIDENTIAL
Slide 18: Spatial Biology
SPATIAL BIOLOGY TOTAL ADDRESSABLE MARKET: $1B-$2B MARKET GROWTH: Mid-Single Digit BIO-TECHNE MARKET SHARE: ~5% • RNAscope & DNAscope technologies are • Provides highly sensitive and specific novel in-situ hybridization (ISH) assays for spatial information at single cell resolution BIO-TECHNE GROWTH:
Slide 19: Exosome Based Liquid Biopsy
EXOSOME BASED LIQUID BIOPSY COMPLETE PROFILING OF EXOSOMAL MOLECULAR SIGNATURES EXOSOME RELEASE BIOFLUID EXOSOME ISOLATION BIOMARKER PATHWAY ANALYSIS Exosomes are released from Exosomes are collected from Exosomes are analyzed by Exosome RNA analysis enables the brain, kidneys, lungs, the various bi
Slide 20: Liquid Biopsies: CTC, cfDNA & Exosomes
LIQUID BIOPSIES: CTC, cfDNA & EXOSOMES KEY CTC cfDNA EXOSOMES P R O P E RT I E S Difficult to find Infrequent in Prevalence within “noise” of Abundant early stages of disease contaminating DNA Early Abundance No No Yes Ability to Enrich Yes No Yes or Select Quality of Poor due to Good High-quality S
Slide 21: Molecular Products
MOLECULAR PRODUCTS TOTAL ADDRESSABLE MARKET: ~$1B MARKET GROWTH: Low-Double Digit BIO-TECHNE MARKET SHARE: <5% • Market leading developer and manufacturer of • 14 products currently on the market including BIO-TECHNE GROWTH: genetic carrier screening and oncology FDA approved kits for Fragile X (car
Slide 22: Diagnostic Reagents
DIAGNOSTIC REAGENTS TOTAL ADDRESSABLE MARKET: $1B-$2B MARKET GROWTH: Mid-Single Digit BIO-TECHNE MARKET SHARE: ~10% • Market leading supplier of clinical controls, • >40 years of experience developing and calibrators and kits for the diagnostics industry manufacturing diagnostic reagents BIO-TECHNE
Slide 23: Cross Company Cell & Gene Therapy Workflow Solutions
C R O S S CO M PA N Y C E L L & G E N E T H E R A P Y WORKFLOW SOLUTIONS CAR T cells are transfused back into the patient and Ella is used to White blood cells obtained from 8 monitor Cytokine Release patient through leukapheresis 1 Syndrome (CRS) ELLA TECHNOLOGY Antibody-coated beads Patient receiv
Slide 24: Cell Therapy Landscape & Approved Products
CELL THERAPY LANDSCAPE & APPROVED PRODUCTS Overall Market Participation: 8 • 48% of Companies in the Bullseye 1 • 68% of Companies in Phase I/II • 48% of Companies in Pre-clinical At Present, ScaleReady has: • 668 Customers • 510 in Pre-Clinical/Research • 1506 in Phase I/II • 6 in Phase III • 2 at
Slide 25: Large Addressable End Markets: ~$14B-$20B
LARGE ADDRESSABLE END MARKETS: ~$14B -$20B MARKET BIO-TECHNE BIO-TECHNE END MARKETS MARKET SIZE GROWTH RATE GROWTH RATE MARKET PENETRATION MID-SINGLE PROTEOMIC RESEARCH REAGENTS ~ $3 B DIGIT 9 %- 1 1 % ~10% $2 B - $3 B MID-SINGLE PROTEOMIC ANALYTICAL TOOLS DIGIT ~15% ~10% $3 B - $5 B >20% ~1% CELL C
Slide 26: The Path to $2B
THE PATH HIGH-TEENS OG TO $2B ~50% CAGR ~$2B ~50% CAGR ~24% ~17% CAGR RIDE CAGR ~13% ~7% • GMP proteins ”STABLE OF CAGR NORMALIZED OG • ExoDx • GMP culture & media UNICORNS” $931mm • RNAscope • DNAscope Prostate • ExoTRU • Cloudz Cell Activation kits FROM $931M HiPlex IN FY21 TO • Kidney • Simple •
Slide 27: Thank You
THANK YOU 27 © 2022 Bio-Techne®. All rights reserved.
Slide 28: © 2022 Bio-Techne ® . All rights reserved.
28 © 2022 Bio-Techne®. All rights reserved.