Hofseth Biocare Asa · OSL:HBC
Hofseth Biocare Asa — Investor Presentation (March 2024)
23 slides from Hofseth Biocare Asa's investor presentation, March 2024
Slide 1: Company Presentation
Company Presentation March 2024 Hofseth Biocare ASA Confidential & Proprietary Information
Slide 2: Vision & Mission
Vision & Mission Sustainably produce To improve lives through premium bioactive science-led marine nutrition ingredients with proven health benefits Natural, fully-circular, traceable, clinically-proven LINK TO GUIDED TOUR VIDEO Hofseth Biocare ASA Confidential & Proprietary Information
Slide 3: HBC Creates Value From The By-products of The Salmon Processing Industry
HBC Creates Value From The By-products of The Salmon Processing Industry 2 of each harvested salmon is used for 1 of the salmon remaining is historically discarded 3 3 human consumption or used as feed Hofseth Biocare ASA Confidential & Proprietary Information
Slide 4: What Makes HBC Different
What Makes HBC Different Access to fresh raw material Intellectual property Strategic partnership with Norway’s largest salmon Proprietary patent protected BATCH manufacturing process 100% processor, Hofseth International that unlocks 100% human grade output Hofseth International has >60% market sha
Slide 5: How We Do It
How We Do It From fish to finished products using patented enzymatic hydrolysis processing Salmon off-cuts for upcycling Arrives at Midsund within a few hours at <4°C 4°C HBC turns only fresh 33% sashimi-grade salmon • 100% human grade byproducts into ingredients for • No additives human health Wate
Slide 6: Transforming Offcuts Into Human Nutrition
Transforming Offcuts Into Human Nutrition FY24 planned raw material input of 17,000mt, +26% yoy From 17,000mt HOG salmon offcuts… …to 5,700mt of speciality ingredients for human nutrition 100% Brand 90% Output Yield % Yield mt name 80% Water vapour 67% 11,305mt Traceable supply chain 70% 67% Full sp
Slide 7: Commercial Portfolio is more than just products
Commercial Portfolio is more than just 4 products HBC targets multiple segments which offer very different margin opportunities Output Product TLA Key Characteristics Feed / Fertiliser Pet Food Nutraceutical Free Fatty AV / PV Acids Full Spectrum PetGo Salmon Oil >2% <12% / <8% ✓ ✓ Salmon Oil Salmon
Slide 8: Go-to-Market Model
Go-to-Market Model Access, develop and commercialise high value market segments B2B Human Nutrition Margin o Direct to brand o Global CMOs o Global Distributors B2B Animal Nutrition Value-add Hofseth Biocare ASA Confidential & Proprietary Information
Slide 9: Consumer Health Products Powered by HBC Ingredients
Consumer Health Products Powered by HBC Ingredients Hofseth Biocare ASA Confidential & Proprietary Information
Slide 10: The Nutraceutical Market Opportunity
The Nutraceutical Market Opportunity Dietary supplements market • Dietary supplements support better human health and nutrition in a convenient format to the consumer • Examples include: vitamins, minerals, herbal extracts, and non- HBC’s ingredients play into the ongoing herbals such as peptides, o
Slide 11: B2B Human Nutrition Portfolio
B2B Human Nutrition Portfolio OmeGo® Full Spectrum Omegas ProGo® Bioactive Peptides CalGo® Calcium Collagen Complex Bringing all the benefits of Atlantic Salmon Unique bioactive peptides rich in type I & The most absorbable form of natural with >84% natural anti-inflammatory acids type III collagen
Slide 12: HBC R&D Overview
HBC R&D Overview • $50m already spent on R&D and manufacturing process development since inception • HBC is a global leader in marine lipid and peptide research in the consumer health space and is now a platform for new drug leads • 20 year history of researching the health benefits of salmon • Long
Slide 13: Strong demand for core business: Increased Raw Material Volumes
Strong demand for core business: Increased Raw Material Volumes to Increase 30% in 2024 Raw Material Input (mt) Full Capacity 25,000 20,000 Raw Material mt 15,000 +30% 10,000 5,000 2019 2020 2021 2022 2023 e2024 Hofseth Biocare ASA Confidential & Proprietary Information
Slide 14: HBC FY24 targeting 50% Revenue Growth yoy & positive EBITDA
HBC FY24 targeting 50% Revenue Growth yoy & positive EBITDA 350 • Continued revenue growth with improving sales mix towards B2B Human Nutrition 300 290 • No assumptions are made for Berkåk plant expansion Revenue NOKm for >50,000mt capacity is available 250 200 191 Sales NOKm 150 119 100 77 68 53 50
Slide 15: Berkåk Plant is a Future Growth Opportunity
Berkåk Plant is a Future Growth Opportunity Highlights • HBC’s fully owned Berkåk plant provides potential for >50,000mt of raw material processing capacity with over 28,000m² of land • This would increase >3x raw material capacity to over 72,000t • Potential human grade ingredients output: • 11,000
Slide 16: HBC Immunology
HBC Immunology • HBCI is the first Biotech spinout and HBC retains c.70% of the share capital • $1.1m was raised at $20m post-money valuation in August 2023 • Key asset: • Identified a novel peptide derived from Atlantic salmon which targets iron metabolism and starves cancer of its ability to grow
Slide 17: HBCI: Peptide Co-Treatment for Prostate Cancer
HBCI: Peptide Co-Treatment for Prostate Cancer Very encouraging early signals Published In-vitro data • ProGo® peptides added to Prostate Cancer (PC) hormone therapy showed up to a 98% kill rate of prostate cancer cells, 6x greater than existing hormone therapy alone (Marine Drugs, 2022) • Two lead
Slide 18: Thank you
Thank you Please let us know if you have any questions Hofseth Biocare ASA Confidential & Proprietary Information
Slide 19: A History of HBC
A History of HBC 2000 2007 2009 2011 2012 2015 Green Earth Industries One of the patents from Roger Hofseth acquired Merger with Cromi AS Acquired the Berkåk Cholestrol reducing (GEI) established by GEI resulted in building of the Midsund plant from and IPO at Oslo Stock spray drying facility at OxL
Slide 20: R&D: Patents Overview
R&D: Patents Overview Patent number Type Patent Issued/Pending Region 342626 A new method to improve enzyme hydrolysis and resultant protein flavor and bio-activity NO, EP, US, Manufacturing 3 issued, 3 pending (P)CA, CL, US of fish off-cuts 5554719 ProGo® Methods and compositions for promoting abso
Slide 21: Hofseth Biocare ASA Confidential & Proprietary Information
Hofseth Biocare ASA Confidential & Proprietary Information
Slide 22: Hofseth Biocare ASA Confidential & Proprietary Information
Hofseth Biocare ASA Confidential & Proprietary Information
Slide 23: Hofseth Biocare ASA Confidential & Proprietary Information
Hofseth Biocare ASA Confidential & Proprietary Information