Cytek Biosciences, Inc. · NASDAQ:CTKB
Cytek Biosciences — Investor Day (June 2022)
124 slides from Cytek Biosciences's investor day presentation, Jun 22, 2022
Slide 1: Investor and Analyst Day
Investor and Analyst Day Dr. Wenbin Jiang, CEO June 22, 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding the size and growth of the cell analysis market; Cytek’s anticip
Slide 3: Analyst / Investor Day Agenda
Analyst / Investor Day Agenda 9:00 – 9:15 Welcome | Dr. Wenbin Jiang, CEO 9:15 – 9:45 Market Overview | Mark Herberger, Sr. Director, Marketing 9:45 – 10:00 Aurora at the NIH | Dr. Bill Telford, NIH/NCI (by video) 10:00 – 10:15 High Dimensional Cell Sorting | Kevin Weller, Ohio State 10:15 – 10:30 A
Slide 4: Cytek's Leadership Team
Cytek’s Leadership Team Wenbin Jiang, Ph.D. Ming Yan, Ph.D. Patrik Jeanmonod Todd Garland Chief Executive Officer Chief Technology Officer Chief Financial Officer Chief Commercial Officer Valerie Barnett Paul Goodson Mark Herberger Ken Riley General Counsel Allen Poirson, Ph.D. Head of Investor Rela
Slide 5: Cytek Highlights
Cytek Highlights Patented, transformative FSP platform, delivering deep Addresses unmet needs and provides highly insights, high-throughput and ease-of-use intuitive and flexible customer experiences Enabling broad applications in Diversified customer base with Global scale and reach, with discovery
Slide 6: Global Scale and Reach with Diversified Revenue Mix
Global Scale and Reach with Diversified Revenue Mix Since launch of Aurora Series in 2017 900+ Customers 500+ Employees 150+ Biopharma Companies 40+ Countries Seattle Amsterdam WW Applications, Service & Sales Fremont (Headquarters) Wuxi Bethesda Tokyo San Diego Shanghai % Revenue by Industry 49% 51
Slide 7: Investing to Capture the Cell Analysis Opportunity
Investing to Capture the Cell Analysis Opportunity CE-IVDD 2022 Validated Broad Customer Base Strong Technology Platform* and Global Presence Financial Profile* Tonbo 2021 $139M 1,226 900+ $18M Cell Sorter 2021 Units Placed Customers TTM Revenue/ A-EBITDA Reagents 2020 $362M 740 40+ Publications Cou
Slide 8: Our FSP Platform Allows Us to Address the Broader Cell Analysis Market
Our FSP Platform Allows Us to Address the Broader Cell Analysis Market $23B $1.0B Single Cell $1.1B Long-Term TAM Cell Structure (Total Cell Analysis Market in 2024) Analysis $2.4B $3.0B Cell Viability $8B Cell ID $1.3B Target ID $8B Marine Biology $1.6B Initial TAM Cell Counting (Cell Analysis Mark
Slide 9: Today's Focus Areas
Today’s Focus Areas Where Flow Cytometry What our Technology fits in Research, Market Segments, Sizes, Enables: Why Reagents – Markets and Clinical, Diagnostics, and Growth Rates Customers Choose Opportunities and Other Areas Cytek 4 Real World Examples The Reasons Cytek Can Our Financial Profile Ou
Slide 10: Market Overview
Investor and Analyst Day Market Overview Mark Herberger, Sr. Director Marketing June 22, 2022 10
Slide 11: Why Flow Cytometry? A Transformative Platform Technology
Why Flow Cytometry? A Transformative Platform Technology Infectious diseases Immuno-Oncology Autoimmune diseases Normal Abnormal Exhaustion Cell sorting Senescence 11
Slide 12: Cytek Technology Enables Applications
Cytek Technology Enables Applications 740 652 516 414 # Publications 325 242 172 111 70 45 6 9 11 18 25 3 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2 '22 12
Slide 13: Market Forces and Needs Shaping Cell Analysis
Market Forces and Needs Shaping Cell Analysis Research Translational Clinical Emergence of high dimensional CRO focus on cell markers and Performance (quality), price, characterization & functional biomarkers leads to new clinical IVD, customer service are assays applications fundamental needs • The
Slide 14: Cytek Plans to Expand the Market and Capture Share
Cytek Plans to Expand the Market and Capture Share Research Translational Clinical Customer Segment Academic Pharma / BioTech / CRO Reference labs, hospitals Application(s) Immuoprofiling Dendritic cells, Car-T, Vaccine MRD, IO, LDT, Immuno-Onc, Immunology development & trials, Receptor Immunotherap
Slide 15: A Selection of Application Areas for FSP
A Selection of Application Areas for FSP Flow Cytometry Cell Analysis Immuno-oncology Immuno-deficiencies Allergy & Immunology Infectious Disease Immunotherapy Immuno- deficiencies $9B 15
Slide 16: Application of FSP in Myeloid Disorders in L/L
Application of FSP in Myeloid Disorders in L/L • Published by Pathology Laboratory at Ludaopei Hospital, China • Spectral multicolor flow cytometry(SMFC) has shown an advantage over traditional FC ⎻ that more fluorescent markers could be detected simultaneously, ⎻ more antigen combinations could be
Slide 17: Application of FSP in Multiple Myeloma Diagnostics
Application of FSP in Multiple Myeloma Diagnostics • Presented by Kindstar Medical Laboratory, China at ICCS 2021 High-parameter and Effective Multiple • Compared the antigen expression and diagnostic results obtained from the Myeloma Diagnostic Panel on the Cytek NL- Cytek NL-CLC vs. the widely use
Slide 18: Flow Can Now Analyze 50 Parameters
Flow Can Now Analyze 50 Parameters • Flow cytometers can now analyze up to 50 parameters (antigens, size, granularity, cytokines, transcription factors, etc.) per cell and millions of cells per sample • Conventional flow cytometry data analysis uses manual gating of cells on 2D plots to distinguish
Slide 19: Application of FSP in Immunology
Application of FSP in Immunology • Scientists developed a 43 color panel to characterize most of the immune subsets within the peripheral immune system, including • conventional T cells • unconventional T cells • B-cell subsets • natural killer (NK) cells • dendritic cells • hematopoietic progenitor
Slide 20: Adjacent Markets: The Power of AND
Adjacent Markets: The Power of “AND” Flow cytometry is often used with and enables downstream or companion technologies Flow Cytometry Sorting Next Gen Sequencing Flow Cytometry Analysis High Content Imaging Cytek Instruments & cFluorTM Reagents Molecular Biology 20
Slide 21: Multicolor Flow Combined With Next Gen Sequencing
Multicolor Flow Combined With Next Gen Sequencing Combining these technologies improves the ability to predict leukemia relapse after therapy Minimal Residual Disease (MRD) Predicting 4-Year Relapse for Acute Myeloid Leukemia (AML) MFC NGS 73% 52% 50% 21
Slide 22: Cytek Commercial and Reagent Strategy
Cytek Commercial and Reagent Strategy Establish Focus Position Translate Transforming credibility on the platform applications into Cytek to a Academic Labs Cutting-Edge Pharma, Biotech Clinical Space Solutions Provider • Instruments at top Applications & CROs • Immunotherapy • Kits & Panels researc
Slide 23: KOL Profiles
KOL Profiles Bill Telford, Ph.D. Kevin Weller Anna Belkina, MD, Ph.D. Buddy Fuda, MD NIH / NCI, Head of Core Flow Co-Director - Flow Cytometry, Asst. Professor, Pathology & Professor of Pathology at the Cytometry Facility The Ohio State University Laboratory Medicine, Director, Flow University of Te
Slide 24: Flow Cytometry in Oncology
Investor and Analyst Day Flow Cytometry in Oncology Dr. Bill Telford, NIH / NCI June 22, 2022 24
Slide 25: NCI Flow Cytometry Core Laboratory
NCI Flow Cytometry Core Laboratory William Telford, Ph.D. National Cancer Institute, National Institutes of Health • A research core laboratory providing state-of-the- art flow and image cytometry services to NCI investigators. • Building specialized instruments and improving flow cytometry technolo
Slide 26: NCI Flow Cytometry Core Laboratory
NCI Flow Cytometry Core Laboratory • While a research-oriented shared resource facility, we support both basic and clinical research projects within the National Cancer Institute. • Clinical trial support is a major component of our mission – not diagnostic analysis for patient care, but high-level
Slide 27: What do we analyze by flow cytometry?
What do we analyze by flow cytometry? Our lab analyzes virtually many potential fluorescent targets Using antibodies, FPs and biosensors, we can target almost many cellular characteristics (and there are thousands)… Extracellular and intracellular receptors. Thousands now known for the immune system
Slide 28: Spectral flow cytometry
Spectral flow cytometry Traditional flow cytometers use single lasers to excite a fluorochrome, and detects fluorescence in narrow bandwidths using dichroic mirrors, filters and PMTs. cyan laser PE Spectral flow cytometry collects 488 nm PerCP TxRed Cy5.5 fluorochrome data as complete AF488 spectra
Slide 29: Traditional flow cytometry
Traditional flow cytometry Cyan Laser PerCP-Cy5.5 PerCP-eFluor710 BB700 Red Laser Ax700 APC-R700 488nm BB630 628nm B B The traditional approach … expand the D D EM 69 730 PT 5/ /45 6 Y 6 40 9 9 0 dichroic / filter single detector model. 0 L L P P I F E F I EM M SS EM PT P C PT Y Complexity, size and
Slide 30: Spectral flow cytometry
Spectral flow cytometry Full spectrum flow cytometry provides many advantages over traditional cytometry • Dramatically improved ability to separate the signals from fluorescent probes with similar (but non-identical) spectra. This allows us to analyze many more fluorescent probes (and cell markers)
Slide 31: DC1555 KRC Arno versus spectral analysis
DC1555 KRC Arno versus spectral NK cells 12-color panel comparison analysis between spectral and Aurora analyzer fluorescence lifetime Option 3B monocytes cytometry. CD4 T naïve cells CD8 T naïve cells CD56 BV421 CD45 eFluor 450 CCR7 BV605 CD19 StarBright Violet 610 B cells CD4 T cells CD2 BV711 CD8
Slide 32: BV421 and SuperBright by spectral cytometry
BV421 and SuperBright 436 by spectral cytometry BV421 SuperBright 436 Two fluorochromes that are VERY similar spectrally but can be distinguished by spectral cytometry. Not possible by traditional cytometry. BV421 0.97 SuperBright 436 SuperBright 436 BV421 ultraviolet 355 nm violet blue yellow red 4
Slide 33: Cytek Aurora 27 colors
Cytek Aurora 27 colors One of our users (Natalia Schneider-Nunez, Chris Kanakry Lab, ETIB-CCR-NCI) is designing a 27-color panel for murine B/T/NK/myeloid cells. UV green-yellow BUV395 CD317 PE CD207 BUV496 CD24 PE-CF594 CD103 BUV563 F4/80 PE-Cy5 Thy1.2 BUV615 B220 PE-Cy7 PD-L1 BUV661 CD11b BUV737 C
Slide 34: T regulatory cell panel
The simple 12 color T regulatory cell panel below (designed not for low spectral overlap but to test fluorochromes spectrally close to CF-5 and R-PC) show that these probes can be reasonably combined with spectrally similar fluorochromes. hCD45RO BUV563 hCD25 APC-Cy7 hCD25 APC-Cy7 hCD14 PE-Cy5 side
Slide 35: New fluorochromes
“New” fluorochromes Old fluorochromes previously not applicable for flow cytometry are now being reassessed, expanding the “palette” of fluorescent tags for high-dimensional labeling. R-phycocyanin (R-PC). Isolated from Stanford Columbia University Biosciences red algae (C-PC from cyanobacteria). λE
Slide 36: Cytek Biosciences Aurora CS cell sorter
Cytek Biosciences Aurora CS cell sorter Cell sorting is a major focus of our group. When our users analyze a cell population, they will soon want to sort it! These cells can be put back into culture, analyzed for proteomics, genomics, etc. Traditionally, the capabilities of cell sorters lag behind a
Slide 37: Cytek Biosciences Aurora CS cell sorter
Cytek Biosciences Aurora CS cell sorter Extensive sensitivity evaluations have shown that the Aurora analyzer and Aurora CS have virtual identical sensitivity, intensity and and linearity profiles. Clontech Takara Spherotech mCherry PE MESF Clontech / Takara acGFP microspheres microspheres microsphe
Slide 38: Cytek Biosciences Aurora CS cell sorter
Cytek Biosciences Aurora CS cell sorter
Slide 39: Cytek Biosciences Aurora CS cell sorter
unlabeled Cytek Biosciences Aurora CS cell sorter Alexa Fluor 488 hCD2 PE hCD56 Human PBMCs, 14 color panel (T cell subsets including naïve/memory and Treg) R-PC hCD4 Sorting for CD4+ and CD8+ populations PECy7 hCD45RA APC hCD19 APCCy7 hCD45RO 59.5% 48.3% 35.3% eF450 hCD45 side scatter BV605 hCD20 U
Slide 40: High Dimensional Cell Sorting
Investor and Analyst Day High Dimensional Cell Sorting Kevin Weller, Ohio State University June 22, 2022 40
Slide 41: High Dimensional Sorting for Discovery
High Dimensional Sorting for Discovery Kevin P. Weller Associate Director – PIIO Co-Director – Flow Cytometry Share Resource Pelotonia Institute for Immuno-Oncology The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute
Slide 42: Our Mission - PIIO
Our Mission - PIIO A comprehensive bench-to-clinical- trial research initiative that will accelerate advanced immunotherapies that harness the immune system to fight cancer Founded in April 2019 with a starting donation of $102 million 42
Slide 43: The IMDP is a key part of the bench
The IMDP is a key part of the bench • Build a leading immune monitoring platform for supporting IO research from discovery to translation, using state-of-the-art technology, robust informatics, strong expertise and exceptional customer service • A Shared Resource to provide IO researchers with the b
Slide 44: The PIIO was built for this
The PIIO was built for this • The PIIO has over 100 members with broad specialization • Emphasis on bioinformatics, the first IO Database is already accruing • We are planning large experiments with teams (5- 10) investigators with different interests and expertise • Currently optimized high dimensi
Slide 45: New Opportunities
New Opportunities • Previous generations of sorting equipment were limited by biomarker numbers (10-15) • Other high dimensional platforms limited: • Mass Cytometry – cell destruction • FACS – not yet reaching stated potential (25-30 commonly reported) • Current high dimensional panels are translati
Slide 46: Let's do everything
do anything, what would you do? Let’s do everything 46
Slide 47: Single Cells/Team Science
Single Cells/Team Science Tumor/Blood/Tissue Process and sort 47
Slide 48: Class
48 Class | gp easonis maar crate wee @.... @ eeinmarser nat a4 (NK Collis Feehan cosa fea con7 m7 C056 ant H Actrates Binz’ ORY an coi 5 los Wiz NOR’ 6S and Le 3 peste @= ante Foro and as oe co6e- Foca a fated etn ‘ave Etec Menary Trot Conte || Gane | [ coesiaw || coho ad wy ‘Acton 02s aPerforiny |
Slide 49: Single Cells/Team Science
Single Cells/Team Science Tumor/Blood/Tissue Process and sort Single Cell Genomics Single Cell Proteomics Single Cell Functional Screening 49
Slide 50: Combine with Spatial information
Combine with Spatial information Composite GzmB T-bet FoxP3 DAPI CD8 PD1 CD3
Slide 51: Examples of spatial maps for a given pair of biomarkers
Examples of spatial maps for a given pair of biomarkers
Slide 52: Single Cells/Team Science
Single Cells/Team Science • The experiments are designed and funded by multiple labs thereby distribution the costs • Very costly becomes relatively affordable • Each sorted cell population is selected for a specific expert on the project based on their interest • Multiple publications and or single
Slide 53: Healthy Donor 3 on Aurora – Y0245
Healthy Donor 3 on Aurora – Y0245
Slide 54: Healthy Donor 3 on Aurora CS – S0108
Healthy Donor 3 on Aurora CS – S0108
Slide 55: Aurora CS Data from 'Patient 1'
Aurora CS Data from ‘Patient 1’
Slide 56: 34c Panel Sort
| _S Saw 34c Panel Sort
Slide 57: Thanks!
Thanks! https://www.pelotonia.org/profile/KW0281 57
Slide 58: Aurora Empowering Immunological Research
Investor and Analyst Day Aurora Empowering Immunological Research Dr. Anna Belkina, Boston University June 22, 2022 58
Slide 59: Full spectrum cell analysis reveals novel immune phenotypes in health and disease
Full spectrum cell analysis reveals novel immune phenotypes in health and disease Anna C. Belkina, M.D., Ph.D. Assistant Professor Department of Pathology Boston University School of Medicine Director Flow Cytometry Core Facility
Slide 60: Introduction
➢Assistant Professor of Pathology and Laboratory Medicine at Boston University School of Medicine My work is focused on chronic inflammatory processes in the context of variety of conditions: • HIV • Diabetes/obesity • Aging and ‘inflammaging’ Introduction Bioinformatic approaches to study single ce
Slide 61: Immune system is known to be incredibly complex
Immune system is known to be incredibly complex, but you would never suspect that if you look at the immune cells under the microscope... Epithelial tissues Lymphocyte
Slide 62: However, immune cells are extremely diverse!
However, immune cells are extremely diverse! Protein ‘fingerprints’ that define diverse types and functions of immune cells
Slide 63: Multiparameter measurements allow us to detect the exact fingerprint
Multiparameter measurements allow us to detect the exact ‘fingerprint’ that correlates with disease X % RA- X X Immune feature: X Disease with no correlation % RA- 57+ X with weak correlation X with strong correlation X to outcome. X % RA- 57+ 27+ All cells X X 1 marker-defined subset A+B+C+D+… X 2
Slide 64: We need to assay these proteins in a single measurement
We need to assay these proteins in a single measurement + identify and measure other biomarkers of disease ➢For basic and translational research ➢For clinical trials ➢For clinical diagnostics
Slide 65: HIV: a problem even when virus is undetectable
HIV: a problem even when virus is undetectable Despite successful viral suppression via anti-retroviral therapy, HIV+ individuals have an elevated risk of Serious Non-AIDS (SNA) events: cardiovascular atherosclerosis Diseases associated with normal aging neurocognitive degeneration SNAs afflict olde
Slide 66: Our Previous Work Implicate γδ T cells as Inflammatory Driver
Our Previous Work Implicate γδ T cells as Inflammatory Driver in HIV, Aging 16-color immunophenotyping (PBMCs) 16 markers of inflammation in plasma OMIP-037 (Belkina et al, 2017) CITRUS algorithm: TIGIT on gd T % TIGIT+ gd T cells tracked with cells stratified plasma inflammatory markers subjects in
Slide 67: Multiparameter analysis of immune cells
Multiparameter analysis of immune cells Reagents to distinguish multiple analytes simultaneously We switched to CYTEK spectral We use CYTEK spectral platform to generate larger unmixing with integrated datasets with better signal signal standardization + our resolution own algorithmic tools Instrume
Slide 68: opt-SNE algorithm enables visualization of mega-scale datasets
opt-SNE algorithm enables high quality visualization of mega-scale datasets and serves as our staple tool for high parameter data analysis “Standard” t-SNE ‘t-SNE for large data’ opt-SNE algorithm
Slide 69: Spectral analysis reveals dramatic diversity of γδ T cells
Spectral analysis reveals dramatic diversity of γδ T cells in HIV, Aging CD45RA CD103 CD160 CD27 CD38 CD16 CD56 TIGIT TIM3 CD3 CD4 CD8 PD1 Vd1 Vd2 Vg9 opt-SNE algorithm integrates the spectral data 29 45 2 23 Vd1 28 26 Vd2 38 17 Vg9 8 20 CD3 19 9 CD4 27 10 CD8 22 1 CD27 11 16 CD16 24 5 CD56 44 32 CD
Slide 70: Spectral analysis reveals dramatic diversity of γδ T cells
Spectral analysis reveals dramatic diversity of γδ T cells in HIV, Aging ≤35yo ≥50yo opt-SNE algorithm integrates the spectral data Uninfected Vd1 Vd2 Vg9 CD3 CD4 CD8 CD27 CD16 CD56 CD45RA CD38 CD160 CD103 HIV+ TIM-3 TIGIT PD-1 gd T cell data from 96 subjects contain 40 distinct clusters / subtypes
Slide 71: Mapping the landscape of the lung in pneumococcal pneumonia
Mapping the landscape of the lung in pneumococcal pneumonia induce streptococcal pneumonia Watch recovery from pneumonia & development Shenoy et al, 2022 of immunity • Spectral fingerprints of lung cells are generated on Cytek Aurora • Measurement stability over multiple timepoints - critical for th
Slide 72: Multiparameter measurements on immune cells
Multiparameter measurements on immune cells CYTEK customizable standardized Reagents panels allow reproducible and Moving forward, full spectrum to distinguish multiple analytes simultaneously easy-to-implement assays cell analysis is the method of choice for single cells cell characterization. CYTE
Slide 73: The Aurora Analyzer in Oncology
Investor and Analyst Day The Aurora Analyzer in Oncology Dr. Franklin “Buddy” Fuda, UTSW June 22, 2022 73
Slide 74: Buddy Fuda
Buddy Fuda Professor of Pathology Division of Hematopathology Director of Clinical Flow Cytometry University of Texas Southwestern Medical Center Dallas, Tx
Slide 75: Disclosures
Disclosures • I have no actual or potential conflicts of interest in relation to this presentation or program.
Slide 76: My Background
My Background • 20 Years in Clinical Practice • Hematopathology and Flow Cytometry at the University of Texas Southwestern Medical center (UTSW) • Director of two clinical flow cytometry laboratories and one immunology laboratory • One of the largest university labs in the county • Wide range of pat
Slide 77: Clinical Flow Cytometry
Clinical Flow Cytometry Normal Cell Helper T-lymphocytes Populations vs Neutrophil Cancer Cell Populations Monocyte Leukemias Immunophenotype and Lymphomas Lymphocyte
Slide 78: How are Laboratories Graded?
How are Laboratories Graded? All Institutions Academic Institutions 1. Sensitivity and 1. Sensitivity and Accuracy of Diagnosis Accuracy of Diagnosis 2. Operating Expenses 2. Operating Expenses 3. Turn Around Time 3. Turn Around Time Setting Our Goals 4. Expertise in Field 1. Publications 2. Nationa
Slide 79: Correct Resources Impact Outcomes
Correct Resources Impact Outcomes Resources Outcomes 1. Instruments • Performance • Reliability/Downtime (Service) 2. • • Reagents Performance Supply Quality of Product • Shipping Times Big influence on 3. • • Vendor Application Support Training Knowledge of Clinical Market Efficiency of Operation 4
Slide 80: Correct Resources Cytek
Correct Resources Resources 1. • Instruments Performance Cytek • Reliability/Downtime (Service) Customer service company 2. Reagents Flow Cytometry Focused • Performance • Supply • Shipping Times 3. Vendor Application Support Jeep • Training Chrysler dealership Enthusiast • Knowledge of Clinical Mar
Slide 81: Flow Cytometry Systems The Hardware/Instruments
Flow Cytometry Systems The Hardware/Instruments Numbers Game The more powerful the test Markers matter! The more per tube The more cost effective the test Conventional Clinical Flow Cytometer Conventional Research Flow Cytometer Up to 12 colors Up to 30 colors Dirty! Conventional Flow Cytometer Real
Slide 82: Flow Cytometry Systems The Hardware/Instruments
Flow Cytometry Systems The Hardware/Instruments Conventional Flow Cytometer Cytek Porthole Windows Bay Window FARM COW!
Slide 83: Fewer Tubes = $$$
Examples: Operating Expense Comparisons Fewer Tubes = $$$ Example 1 – Peripheral Blood screen Example 2 – Peripheral Blood Mycosis Fungoides Panel Conventional Cytek Conventional Cytek Unique Markers 17 17 Unique Markers 20 20 Tubes 2 1 Tubes 3 1 Total Markers Run 19 17 Total Markers Run 27 20 Redun
Slide 84: Turn Around Time Acquisition Faster On Cytek
Turn Around Time Fewer tubes = Faster Acquisition Faster On Cytek • Less Resource Consumption • Faster patient results Routine sensitivity each tube – 3 minutes Routine analysis each tube – 3 minutes Panel Acquisitions Acquisition Acquisition Acquisition Panel Analysis Analysis Analysis Analysis Tim
Slide 85: Faster Turn Around Times
Faster Turn Around Times • Increased productivity • Flow cytometry lab • Hematopathology work up • Improved patient care Cytek system • Earlier diagnosis “No-brainer” • Earlier induction of treatment • More cost-effective patient care But, does it actually work? • More specific therapeutic approach
Slide 86: CLL/SLL 21 color tube
Plasma cells Hematogones B-cells CLL/SLL 21 color tube Stage 3 Cytek Stage 2 Stage 1 Chronic Lymphocytic Leukemia/Small Lymphocytic lymphoma (CLL/SLL) CLL/SLL = 0.001% CD5(+), CD10(-), CD19(+), CD20(dim +), CD23(+), CD34(-), CD38(-), CD43(+), CD45(+), surface kappa(dim +), surface lambda(-)
Slide 87: Successful Operation
Successful Operation Academic Institutions 1. Accuracy of Diagnosis 2. Operating Expenses 3. Turn Around Time 4. Expertise in Field Achieve our goals 1. Publications FAN! 2. National Prominence
Slide 88: What's that mean for Flow Cytometry
What’s that mean for Flow Cytometry • Cytek revolutionizes flow cytometry • Unleashes the full potential of artificial intelligence • Simplifies the technical component • Opens new horizons for research and clinical practice • Meets new challenges brought about through advancements in clinical thera
Slide 89: What's that mean for Cytek
What’s that mean for Cytek • It takes the market share • Out of the gate Early • Reference laboratories and University Laboratories • Builds a bond • Will switch to the latest technology • Superior product • Superior customer service • Longevity of relationship • Private practice and small laborator
Slide 90: Successful Operation
Successful Operation Cytek A Focused Flow Cytometry Company Machine, Reagent, Service
Slide 91: Break
Investor and Analyst Day Break June 22, 2022 91
Slide 92: Cytek Technologies and Products
Investor and Analyst Day Cytek Technologies and Products Dr. Ming Yan, Chief Technology Officer Mark Herberger, Sr. Director Marketing June 22, 2022 92
Slide 93: Unmet Needs: High Dimensional Cell Analysis
Unmet Needs: High Dimensional Cell Analysis The complexity of the immune system requires to detect and purify • the combinations of expressing numerous proteins, • the functionally distinct cell subsets. To correlate a given immune response to disease and treatment Functional Assays High Dimensional
Slide 94: Advancing Cell Analysis with Our Unique FSP Technology
Advancing Cell Analysis with Our Unique FSP Technology Cytek’s FSP Our FSP platform was purpose- Conventional Technology built to advance the next generation of cell analysis by delivering deep insights, high throughputs and ease of use FSP technology enables high sensitivity and high throughput wit
Slide 95: Our FSP Technology is Powered by Patented Innovative Designs
Our FSP Technology is Powered by Patented Innovative Designs A A. The fluorescence spectrum C from each laser source is collected from multiple laser excitation D B B. The fluorescence from each laser source is collected by B each corresponding detector array module A C C. Use of APD detectors maxim
Slide 96: Cytek's Core Instruments: Analyzer to Sorter
Cytek’s Core Instruments: Analyzer to Sorter Aurora Northern Lights Aurora Cell Sorter Biopharma, Biopharma, >40 Colors >24 Colors Individual >40 Colors CROs, Large High-End Entry-Level CROs, Large High-End from 3-5 from 1-3 Researchers & from 3-5 Academic Market Market Academic Market Lasers Lasers
Slide 97: We Provide an End-to-End Platform of FSP Solutions
We Provide an End-to-End Platform of FSP Solutions Instruments Reagents and Kits Northern Aurora Lights Automatic Cell Sorter sample loader Services & Application Data Acquisition and Support Analysis Software 97
Slide 98: Cytek FSP Platform versus Other Technologies
Cytek’ FSP Platform versus Other Technologies Conventional Flow Spectral Flow Mass Cytometry Cytometry Cytometry Biomarkers / Parameters (>40 biomarkers)1 Sensitivity (nanoparticle detection) Throughput (>30K cell/second) Footprint (<150K cm3) Sorting Capability Cost : Performance2 1. Based on peer-
Slide 99: Our FSP Technology Provides a Significant Reagents Sales Opportunity
Our FSP Technology Provides a Significant Reagents Sales Opportunity ▪ Cytek developed a set of spectral unique dyes based on full spectrum cytometry Laser Violet cFluor cFluor V420 Violet cFluor V450 ‒ About 28 cFluor dyes with high parameter enablers have been Violet cFluor V500 Violet cFluor V570
Slide 100: Reagents & Kits Portfolio
Reagents & Kits Portfolio Our reagents are fluorochrome conjugated antibodies used to identify cells of interest Our multi-color cFluor immunoprofiling kits and optimized multicolor immunofluorescence panel provide users with ready-to-use antibodies and protocols Class 1 single-color reagents curren
Slide 101: Cytek Bioinformatics Program Objectives
Cytek Bioinformatics Program Objectives Make it easier to do Flow: Easier for new customers to Accelerates reagent and instrument pull-through. get started, and advanced users to scale to larger and Powerful and easy-to-use software gives faster time-to- more complex experiments. insight and answers
Slide 102: Cytek AI Expected to Speed Up the Clinical Adoption
Cytek AI Expected to Speed Up the Clinical Adoption Collaboration of AI machine learning on automatic diagnosis of B-ALL MRD Increased accuracy with less laboratory time – Greater simplicity Manual Analysis with SpectroFlo AI Analysis Seamless Workflow to the Clinician with Immediate Data Read 102
Slide 103: Advancing Technology through Collaborations
Advancing Technology through Collaborations Dr. Sylvain Simon of Fred Hutch Cyto 2022 Talk A 59-marker panel to decipher immune cell Multiple site collaboration in L&L MRD diagnosis perturbations in immunotherapy-treated patients Team and monitoring AI on clinical data analysis Multiple sites nano-p
Slide 104: Cytek's Value Proposition to the Clinical Market
Cytek’s Value Proposition to the Clinical Market Advanced flow cytometry for disease screening, diagnosis and monitoring Benefits FSP ▪ More informative antibodies in 1 tube ▪ Eliminates redundant reagents ▪ Optimizes use of smaller amounts of patient specimen ▪ Identifies tiny populations of abnorm
Slide 105: Cytek Supporting Laboratory Developed Test (LDT) Worldwide
Cytek Supporting Laboratory Developed Test (LDT) Worldwide Project Panels Number of cFluors Cytek 20-color MRD kit 20C AML MRD 20 Conversion of BD Canto L&L panels to NL-CLC 10 panels, screening and diagnosis. Tested in 16 cFluors >300 samples Broad range of LDT panels 23C MM, 23C ALL-CS, 16C ALL-IC
Slide 106: Next-Gen Clinical Flow Cytometry – Key Focus Points
Next-Gen Clinical Flow Cytometry – Key Focus Points Next Generation Flow Cytometry: completely operator independent - removing bias, daily performance variability, and individual operators’ variability. Result: improved results & data quality Instrument Data Acquisition • Characterization & Initiali
Slide 107: System Solutions Under Development at Cytek Clinical
System Solutions Under Development at Cytek Flow cytometer • Advanced Instrumentation with loader option • Automated processing Automated Sample prep • Panels based on innovative cFluor reagents Cytek • Application driven menu Clinical System L&L Dx, MRD, Immunodeficiency • Automatic data analysis a
Slide 108: Key Financial Review
Investor and Analyst Day Key Financial Review Patrik Jeanmonod, CFO June 22, 2022 108
Slide 109: Strong and Growing Base of Instrument Placements
Strong and Growing Base of Instrument Placements CAGR 1226 (Q4’19 – Q1’22) 1110 86% 970 855 751 657 548 447 376 303 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 109
Slide 110: Quarterly Revenue and Adjusted Gross Margin % Q1-2022 Review
Quarterly Revenue and Adjusted Gross Margin % Q1-20 to Q1-22 $38.9 Q1-2022 Review ($MM) $34.4 $2.9 $35.1 • Revenue $35.1 million $30.6 $30.4 $2.2 $3.6 or + 44% YoY $2.0 $1.7 • Cytek added another $25.1 $1.9 $24.3 116 instruments now $1.6 $19.1 64% total base at 1,226 $18.0 61% $1.9 $1.7 62% 64% 60%
Slide 111: Revenue & Adj. EBITDA
Revenue & Adj. EBITDA $39.9 28% 27% $34.4 $35.1 $30.6 $30.4 $25.1 $24.3 16% 15% $18.0 $19.1 14% 7% 7% $8.3 $7.1 $4.7 $5.5 $5.5 2% -2% $1.8 $2.2 $0.4 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 $(0.4) Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Adj. EBITDA $(0.4) $0.4 $7.1 $8.3 $1
Slide 112: Operating Expenses
Operating Expenses S&M Expenses R&D Expenses G&A Expenses ($MM) ($MM) ($MM) $7.5 $8.3 $8.0 $6.9 18% 20% 20% 16% 20% $7.1 19% 16% 19% 18% $7.0 18% $6.6 18% 15% 14% $5.7 17% 17% $6.2 $6.1 16% 13% 13% 15% 16% 16% 15% 15% $5.6 13% 14% $5.1 $4.6 $4.2 $4.4 $4.0 $4.3 $3.8 8% $3.5 $3.4 $3.1 $3.0 $2.9 7% $2.
Slide 113: Cytek Operating Stats
Cytek Operating Stats Non-GAAP Target Operating Model ($ in thousands) 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 4Q2021 1Q2022 Gross Margin % 47% 43% 62% 64% 60% 65% 64% 63% 61% S&M % 19% 16% 15% 15% 17% 18% 18% 20% 18% R&D % 17% 15% 13% 14% 20% 20% 16% 16% 19% G&A % 14% 13% 7% 8% 16% 13% 15%
Slide 114: Top Line Growth with Improved Operating Efficiencies
Top Line Growth with Improved Operating Efficiencies Support 4 pillars strategy – with focus on top line growth, GP margin improvement and increased A-EBITDA $ value and as percent of total revenues Discipline in cost management Capex investment to support long term Cytek worldwide growth Re-affirmi
Slide 115: Business Strategy & Conclusions
Investor and Analyst Day Business Strategy & Conclusions Dr. Wenbin Jiang, CEO June 22, 2022 115
Slide 116: Cytek's Four Business Pillars
Cytek’s Four Business Pillars Instruments Applications Bioinformatics Clinical • Performance • Enabler • Storage • Regulatory • Intelligence • Panels/kits • Analysis • LDT • Ease of use • Flexibility • Optimization • Menu • Compact • Functionality/Purposes • Management • AI • Lowest cost • Volume/re
Slide 117: Cytek Vision
Cytek Vision Comprehensive Solutions Company Autosampler Liquid biopsy Imaging Spatial Marine biology Mass Spectral Environmental Microfluidics Single cell analysis Genomics NGS 117
Slide 118: Cytek's Operational and Shareholder Goals
Cytek’s Operational and Shareholder Goals Commitment to Shareholder Value Creation Maintain Positive EBITDA Capital Efficiency Execution Speed Operational Excellence Maximize Free Cash Flow Smart Acquisitions, Licenses and Joint Ventures 118
Slide 119: Why Invest In Cytek - Investment Thesis
Why Invest In Cytek - Investment Thesis Transformative Platform Technology The most competitive innovator Driving Growth & Expansion with strong in Cell Analysis – fastest growth global adoption rate in the industry Strong Balance Sheet Attractive Valuation and Cash Flow Positive 119
Slide 120: Thank you!
Investor and Analyst Day Thank you! June 22, 2022 120
Slide 121: Appendixes
Appendixes June 22, 2022
Slide 122: Non-GAAP Adjusted GP Reconciliation
Note: Fiscal Quarter Non-GAAP Adjusted GP Reconciliation ($ in thousands) Non-GAAP Adjusted Gross Profit Reconciliation ($ in thousands) FY20A FY21A 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 4Q2021 4Q2022 GAAP Gross Profit 51,710 79,144 8,375 8,270 15,615 19,450 14,487 19,745 21,276 23,636 20
Slide 123: Non-GAAP Adjusted EBITDA
Note: Fiscal Quarter Non-GAAP Adjusted EBITDA ($ in thousands) Non-GAAP Adjusted EBITDA Reconciliation ($ in thousands) FY19A FY20A FY21A 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 4Q2021 1Q2022 Net Income (16,827) 19,411 3,027 (839) 8,111 6,539 5,600 101 2,671 1,420 (1,165) (2,158) Adjustment
Slide 124: Overview of Our Key Business Components
Overview of Our Key Business Components Revenue Components Background Instruments • Our instrument revenue primarily consists of sales of our Aurora and Northern Lights and Cell Sorter systems, instrument accessories, such as loaders • We offer multiple versions of our Aurora and Northern Lights and