Microba Life Sciences Limited · ASX:MAP
Microba Life Sciences — Investor Presentation (June 2025)
57 slides from Microba Life Sciences's investor presentation, Jun 23, 2025
Slide 1: At the forefront of microbiome diagnostics & therapeutics
At the forefront of microbiome diagnostics & therapeutics Strategic Investment & Equity Raise Presentation ASX: MAP 23 JUNE 2025 Not for release to US wire services or distribution in the United States Authorised for release by the Board of Directors
Slide 2: Disclaimer
Disclaimer 2 This presentation (Presentation) has been prepared by Microba Life Sciences Limited (Microba). Summary information - This Presentation contains summary information about Microba and its activities which is current only as at the date of this Presentation, being 23 June 2025. Microba may
Slide 3: Investment Highlights
Investment Highlights 3 Global diagnostics leader continuing Large addressable market with Accelerating sales and clinical to invest for future latent demand adoption Major shareholder and partner, Sonic $25b2 initial TAM addressing an 82 million $15.4m - $16m in FY25 revenue, and over >145% Healthc
Slide 4: Pathway to scale
4 SECTION 1 Pathway to scale Strategic Objective – regional & group breakeven
Slide 5: Building the platform for personalised, microbiome-based healthcare
“We are building the platform 5 for personalised, microbiome- ~3 Year Strategic Objective based healthcare.” Strong penetration of FY26 innovator & early adopter clinicians. Transformative Expand clinical adoption. patient outcomes across FY25 Break-even in Australia & core regions. United Kingdom1.
Slide 6: 5 key pillars and strengths of our ~3-year strategic plan
5 key pillars and strengths of our ~3-year 6 strategic plan to deliver continued strong growth 1 Large Scale Latent Demand 2 Efficient Growth Engines 3 Essential Clinical Utility 4 SaaS Style Retention 5 Powerful Moats Clinicians and patients Product-accelerated Clinically valuable & Comprehensive U
Slide 7: The market is big, and we only need to capture a small amount
The market is big, and we only 7 need to capture a small amount 800% Future Addressable Market to impact at scale All flavours of pie. 7 major markets. Top 10 indications. Established in clinical practice Top-down, bottom up, primary, secondary and tertiary guidelines with reimbursement, routine use
Slide 8: Scalable product-accelerated growth drives increasing operating leverage
Scalable product-accelerated growth and strong net 8 revenue retention drive increasing operating leverage Growth & Unit Economics Formula Customer & Market Growth “We are forecasting strong and enduring year- ↑ Increase referring HCPs - Maintain average referrals per HCP on-year growth, driven by i
Slide 9: Strong clinical adoption & accelerating growth
Strong clinical adoption & accelerating growth 9 Leveraging 7 years of development at the forefront of microbiome testing Growth $1,800,000 3x landmark clinical study results Core diagnostic tests & clinical $1,600,000 software winning a major new $1,400,000 MetaXplore – UK Early Access $25B diagnos
Slide 10: Founded and operated by deep bench of world-class leaders
Founded and operated by deep bench of world-class leaders 10 Dr Luke Reid Mr James Heath Mr Eric Davis Mr Alaster Stockwell-Jones Chief Executive Officer Chief Financial Officer Chief Growth Officer UK Commercial Director Scientific Advisors Medical Advisors Prof. Gene Tyson Prof. Phil Hugenholtz Pr
Slide 11: Product-accelerated growth
11 SECTION 2 Product-accelerated growth Moving from left to right through the adoption curve, one feature at a time, with increasing efficiency
Slide 12: The Microba Market Adoption Curve
Product-Accelerated Growth 12 The Microba Market Adoption Curve Like with all technology adoption, a natural bell-curve forms separating innovators from laggards. In Microba's case, this curve can be traversed by addressing increasing levels of clinician scepticism across 4+ dimensions. These needs
Slide 13: Moving through the adoption curve powered by features
Product-Accelerated Growth 13 Moving through the adoption curve powered by features that address higher levels of market demands over time Enhanced Interpretability Enhanced Actionability Enhanced Business Integration Enhanced Workflow Integration E.g. Health Categories, Marker Cards E.g. Key findin
Slide 14: Driving down CAC with marketing and product efficiency
Product-Accelerated Growth 14 Driving down CAC with marketing and product efficiency Sales-Influenced Growth Product-Assisted Growth Product-Led Growth Sales Calls, Clinic visits, Lunch & learns, Live Self-serve education, always-on marketing Self-serve onboarding, self-serve support, Mentoring, Liv
Slide 15: Channel activation and efficiency through top tier strategic partners
Partner-Accelerated Growth 15 Channel activation, CAPEX & OPEX efficiency through leveraging top tier strategic partners “Microba is to gut health what Cochlear is to hearing and Pro Medicus is to imaging—category-defining, Partnering models clinically trusted, and digitally dominant. It is building
Slide 16: Therapeutics
16 SECTION 3 Therapeutics Attractive upside - leveraging Microba’s leading databank with years of R&D and investment
Slide 17: A pipeline of assets backed by big-data, preclinical and clinical validation
Attractive Upside 17 A pipeline of assets backed by big-data, preclinical and clinical validation, targeting deals • 5+ years of investment to develop a rich Therapeutic Assets pipeline of live biotherapeutic assets and data, leveraging Microba’s world leading databank generated from it’s testing bu
Slide 18: Strategic Investment & Equity Raise
18 SECTION 4 Strategic Investment & Equity Raise Offer details
Slide 19: Up to $8.3m of new strategic investment from Sonic Healthcare
Up to $8.3m of new strategic investment from major 19 strategic partner, medical diagnostics leader Sonic Healthcare “Our partnership with Microba exemplifies our commitment to invest in cutting edge developments in laboratory medicine. We see microbiome testing becoming a key part of pathology over
Slide 20: Equity Raise
Equity Raise 20 A Two Tranche Institutional Placement (Placement) to raise A$12.5 million, comprising: • Tranche One of the Placement to raise approximately A$6.046 million using the Company’s Listing Rule 7.1 placement capacity through the issue of 67,177,796 Placement new shares in Microba (New Sh
Slide 21: Timetable
Timetable 21 Event Date Trading Halt Thursday, 19 June 2025 Record Date for entitlement to participate in SPP Friday, 20 June 2025 Trading Halt lifted and announcement to ASX of the Placement and SPP Monday, 23 June 2025 Settlement Date of New Shares - Tranche 1 Placement Thursday, 26 June 2025 Issu
Slide 22: Sonic Healthcare investment details
Sonic Healthcare investment details 22 • Microba’s relationship with key partner and largest shareholder, Sonic Healthcare, further strengthened through a strategic investment to accelerate growth in the UK market with a total investment of up to $8.3m (£4m1), with an initial commitment of ~A$4.167m
Slide 23: Full Business Summary
At the forefront of microbiome diagnostics & therapeutics Full Business Summary ASX: MAP 23 JUNE 2025 Authorised for release by the Board of Directors
Slide 24: The Microbiome Opportunity
24 SUB-SECTION 1.1 The Microbiome Opportunity The next frontier in precision healthcare
Slide 25: Changing the gut microbiome can treat chronic disease
25 Changing the gut microbiome can treat chronic disease. 21,000+ 150+ Research publications Global clinical studies demonstrate a clear link demonstrate that microbiome between chronic diseases and modulation can influence disease the gut microbiome* outcomes and clinical symptoms* Gastrointestinal
Slide 26: Clear, global and ambitious vision
Clear, global and ambitious vision 26 Broad-based Regular testing is Usage of approved Millions of patients acceptance commonplace therapeutics is living healthier lives The microbiome is High quality and routine Microbiome diagnostics recognised by clinically useful Microbiome therapeutics and ther
Slide 27: Combating chronic disease through microbiome diagnostics and therapeutics
Combating chronic disease through 27 microbiome diagnostics and therapeutics $1.4 trillion healthcare disruption opportunity Microbiome testing to diagnose and match Microbiome therapy to treat patients with the right treatment chronic diseases $125B Est. TAM $1.3T Est. TAM Management estimate based
Slide 28: Unlocking the $1.4 trillion healthcare disruption opportunity
Unlocking the $1.4 trillion healthcare disruption opportunity Diagnostics Therapeutics Clinical microbiome testing Precision microbiome therapeutics Two tests. 3 programs. • Opening a $100B new • 5 years of R&D established INFLAMMATORY BOWEL DISEASE PROGRAM diagnostic category. GASTROINTESTINAL pipe
Slide 29: Diagnostics: Q3 Results & Highlights
29 SUB-SECTION 1.2 DIAGNOSTICS Q3 Results & Highlights
Slide 30: Q3 Financial Highlights
Q3 Financial Highlights 30 Continued Growth & Clinical Adoption of Testing Products in Australia and UK 3225 MetaXplore tests sold AU (+201% vs PCP) | 246 MetaXplore tests sold UK (+1,018% vs PCP) | 212 MetaPanel tests sold (+1,827% vs PCP) Continued Growth in Testing Volumes 4,000 Australia +240% •
Slide 31: Q3 Financial Highlights
Q3 Financial Highlights 31 Forecasting strong close to FY25, despite Q3 impact from strategic change in revenue mix Annual Revenue Growth +28% - $18,000,000 33% • Transitionary impact in Q3 revenue aligned to $16,000,000 changes in product and revenue mix $14,000,000 • Record March sales for both Me
Slide 32: Q3 Business Highlights
Q3 Business Highlights 32 Partnership with Major Gastroenterology Clinic • Microba partnered with Colonoscopy Clinic and Integrated Gut Health, one of Australia’s largest private gastroenterology services which sees more than 10,000 patients annually • Key elements of the partnership include: • Rout
Slide 33: Diagnostics: Products, TAM & Clinical Data
33 SUB-SECTION 1.3 DIAGNOSTICS Products, TAM & Clinical Data
Slide 34: Addressing the GI symptom challenge
Addressing the GI symptom challenge 34 Microba’s comprehensive diagnostic products First line Gastrointestinal pathogen test Launched March 2024 Diagnosing pathogenic causes Stool DNA test. of GI symptoms 175 targets. Expertly curated clinical recommendations for targeted treatment. Second lin
Slide 35: GI disease is a silent epidemic
GI disease is a silent epidemic 35 New answers and resolution for millions of patients suffering 82,690,000 50% >70% >60% patients suffering no resolution with get new results get improved outcomes Presenting annually with lower GI abdominal routine care Demonstrated in studies on over 5k patients I
Slide 36: Supported by multiple clinical studies across >30k patients
Supported by multiple clinical studies across >30k 36 patients Released to ASX 30 April 2025 Released to ASX 14 May 2025 Released to ASX 21 May 2025 Inflammatory Bowel Disease (IBD) Chronic GI Symptoms GI Infectious Disease • MetaPanel test identifies gastrointestinal • 71.4% of reports from 4,616 p
Slide 37: Diagnostics: Real Patient Impact
37 SUB-SECTION 1.4 DIAGNOSTICS Real Patient Impact
Slide 38: Patient testimonial: Cecelia, Adelaide
38 “I have struggled with gastrointestinal symptoms for over half my life. I have tried resolving with many specialists, restrictive eating plans and natural therapies. My MetaXplore test this year identified clear problems and a personalised treatment plan. I am grateful that through following the
Slide 39: Patient testimonial: MetaXplore treatment results
39 “Before completing the MetaXplore test with my practitioner, my health was in constant distress. I looked and felt bloated all the time, to the point of appearing six months pregnant. My severe constipation led to bowel movements only every 5-6 days with trapped gas causing extreme pain. After co
Slide 40: Therapeutics: Attractive upside
40 SUB-SECTION 2.1 THERAPEUTICS Attractive upside - leveraging Microba’s leading databank with years of R&D and investment
Slide 41: Low cost, high return opportunity leveraging years of R&D
Attractive Upside 41 Low cost, high return opportunity leveraging years of R&D and investment Historical & Forecast Therapeutic Asset • Over 5 years of strategic investment has built a rich Investment pipeline of live biotherapeutic assets, leveraging Microba’s world leading databank generated from
Slide 42: Advanced AI Development of Next Generation Precision Live Biotherapeutics
Attractive Upside 42 Advanced AI Development of Next Generation Precision Live Biotherapeutics Target Prediction Disease Relevant Activity Disease Donor Prevalence Isolation Human Data Driven Precision AI & Machine Microbiome Health Data Learning Therapeutics Biome Data In Silico Analysis Species Su
Slide 43: A pipeline of assets backed by big-data and early clinical validation
Attractive Upside 43 A pipeline of assets backed by big-data, deep preclinical and early clinical validation Therapeutic Assets Core Program Discovery Development Preclinical Phase 1 Phase 2 R&D Partners MAP 315 Phase 2 IND submission currently (LBP) being compiled IBD (Ulcerative colitis) Undisclos
Slide 44: Therapeutics: Path to major deals for these assets
44 SUB-SECTION 2.1 THERAPEUTICS Path to major deals for these assets
Slide 45: Two major commercial pathways to value return
Attractive Upside 45 Two major commercial pathways to value return Assets Commercial strategy Market value potential Live Biotherapeutic Out license $1.5 - $11B MAP-315 Pharmaceutical drug (FDA – BLA) • Upfront • Strategic partnerships • Milestone payments IBD • Royalties • Non-dilutive equity inves
Slide 46: Recent Comps & Activity
Attractive Upside 46 Recent Comps & Activity Pharma Deal Comps Next Gen Probiotic Activity Licensee Licens Total Date Deal Type / or / Stage Upfront Deal Next generation Date Company Headline Acquiror Target Value probiotic species Gut health pill aims to reduce fatigue and improve July 2024 Veillon
Slide 47: Upcoming deal catalysts
Attractive Upside 47 Upcoming deal catalysts 2x peer companies are expected to read out on key clinical trials by the end of 2025. The results from these trials if positive would validate this new live-biotherapeutic modality, and deal precedents indicate that competitive deal activity for these ass
Slide 48: Contact
Dr Luke Reid CONTACT Chief Executive Officer luke.reid@microba.com Head Office Level 10, 324 Queen Street Brisbane QLD Australia Laboratory Pasquale Rombola Princess Alexandra Hospital Chairman Woolloongabba QLD Australia pasquale.rombola@microba.com Investor Hub Presentation Link: https://ir.microb
Slide 49: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 49 KEY RISKS Regulatory and compliance risk Microba operates in the highly regulated healthcare, diagnostics and therapeutic development environments and works with expert advisors related to these activities. Changes in laws, regulations, or ind
Slide 50: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 50 Access to Capital Risk Microba’s ability to deliver on its diagnostic, therapeutic, and international expansion objectives depends on timely access to external funding. These activities are capital-intensive and require sustained investment ac
Slide 51: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 51 Litigation risk Microba may also be subject to litigation in the future and there can be no assurance that the outcome of legal proceedings from time to time will not have an adverse effect on Microba’s businesses, financial performance, finan
Slide 52: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 52 Merger, acquisitions and divestments Microba may engage in merger, acquisition or divestment activities which facilitate Microba’s strategic direction. Whilst Microba recognises that benefits may arise from merger, acquisition or divestment ac
Slide 53: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 53 OFFER AND GENERAL RISKS Market price of ordinary shares will fluctuate Ordinary shares trade on ASX. The market price of ordinary shares on ASX may fluctuate due to various factors, including: i. Australian and international general economic c
Slide 54: Key Risks & Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 54 Shareholders are subordinated and unsecured investors In a winding up of Microba, Microba Shareholders’ claims will rank after the claims of creditors preferred by law, secured creditors and general creditors. Microba Shareholders’ claims will
Slide 55: Forward Financial Information Assumptions
Key Risks & Forward Financial Information Assumptions 55 Forward Financial Information Assumptions • Group break-even assumes successful execution of the FY26 regional break-even milestones (see The achievement of the FY26 forward information & ~3-year strategic objectives detailed in slide 5 is abo
Slide 56: Offer Jurisdictions
Offer Jurisdictions 56 International Offer Jurisdictions This Presentation does not constitute an offer of new ordinary shares (New Shares) and attaching options (Attaching Options) of the Company in any jurisdiction in which it would be unlawful. In particular, this Presentation may not be distribu
Slide 57: Overview of FAM, TAM, SAM & SOM Assessments
Market Sizing 57 Overview of FAM, TAM, SAM & SOM Assessments Future Addressable Market (FAM) - Est. 729m tests p.a. / $125B p.a. Serviceable Addressable Market (SAM) - Est. 18.6m tests p.a. • 7 major markets – Australia, United Kingdom, United States, France, • Top 5 focus markets – Australia, Unite
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