Slide 1: Transforming Biospecimen Procurement
CONNECT. INNOVATE. March 2023 Investor Presentation TRANSFORMING BIOSPECIMEN PROCUREMENT An online marketplace for human biospecimens
Slide 2: Forward-looking statements
This presentation may contain forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended, and Section 21 E of the Securities Exchange Act of 1934 , as amended . Such forward - looking statements are characterized by future or conditional verbs such as
Slide 3: Investor Highlights
Investor Highlights 3 >200 Healthcare Provider / Supplier Organizations >450 Customer Organizations 1. Early - stage opportunity with a first mover advantage 2. Unique two - sided marketplace disrupting the biospecimen procurement process 3. Strong revenue growth with a 7 - year CAGR of 48% 4. Growi
Slide 4: Our Vision
Accelerate scientific discovery via an online marketplace that empowers researchers to instantly search for and gain access to patients, biospecimens, and data across a global network of healthcare providers Our Vision 4
Slide 5: Human Biospecimens are Essential for Life Science R&D
Human Biospecimens are Essential for Life Science R&D Basic Research Biomarker Identification & Validation Drug Discovery & Development Diagnostics Discovery & Validation Biofluids Solid Tissue Stem & Immune Cells Plasma, Serum, Urine, Saliva Industry Academia Government 5 Lung, Breast, Colon, Brain
Slide 6: Large and Inefficient Biospecimen Market
10 - 15% Annual Growth Fueled by precision and regenerative medicine research 2 Disconnected Market Participants in Need of a Marketplace Solution With an Inefficient Supply Chain Manual processes plus fragmentation make it ripe for an online marketplace solution Large and Inefficient Biospecimen Ma
Slide 7: Market Inefficiencies
Market Inefficiencies PROVIDER RESEARCHER Scientist / Informaticist Procurem ent Legal & Compliance IT / Informaticist Scientist & Informaticist Legal & Compliance IT / Informaticist Researcher & Procurement Legal & Compliance Principal Investigator & Specimen Operations PATIENTS PROVIDERS RESEARCHE
Slide 8: Inefficiencies Lead to Losses
Inefficiencies Lead to Losses Providers miss revenue and research opportunities > 3 Billion clinical specimens are discarded annually worldwide 5 > 1 Billion Patient encounters yearly in the U.S. where a specimen could be provided for research 4 > 800 Million banked specimens are in biorepository in
Slide 9: The iSpecimen Marketplace Solution
The iSpecimen Marketplace ® Solution 9 PROVIDER Procurement Principal Investigator / Operations IT / Informaticist PATIENTS Legal & Compliance IT / Informaticist Researcher & Procurement Legal & Compliance Principal Investigator & Specimen Operations Scientist & Informaticist Blood / Pheresi s Cente
Slide 10: Full-Service Procurement
Full - Service Procurement We Not Only Connect Suppliers and Customers, but Also Manage the Entire Procurement Process SPECIMEN SEARCH & SELECTION SPECIMEN LOGISTICS SPECIMEN MANAGEMENT DATA MANAGEMENT STUDY/ORDER MANAGEMENT SUPPLIER SITE TRAINING COLLECTION KIT BUILDING COMPLIANCE MANAGEMENT STUDY
Slide 11: Suppliers and Researchers Benefit
Suppliers and Researchers Benefit Advance Discovery Suppor t research mission and advance diagnostic, therapeutic, and vaccine research Increase Revenue Instantly connect to a global network of researchers Ensure Compliance On a platform that protects the privacy and security of patient information
Slide 12: Growing Supplier Adoption
13 34 66 102 147 181 200 217 2015 2016 2017 2018 2019 2020 2021 2022 Growing Supplier Adoption 1000+ Hospitals Also includes two Healthcare Information Exchanges 50% CAGR Number of Suppliers (2015 – 2022) WORLDWIDE COVERAGE United States United Kingdom Germany France Ukraine Georgia Bulgaria Russian
Slide 13: Growing Researcher Adoption
$700 $1,448 $3,067 $4,395 $4,298 $8,184 $11,135 $10,402 2015 2016 2017 2018 2019 2020 2021 2022 Cumulative Customer Organizations with Purchases 2015 – 2022 55% CAGR Customers (2015 – 2022) Annual Revenue ($000) - Unaudited 2015 – 2022 48% CAGR Revenue (2015 – 2022) Growing Researcher Adoption 70% o
Slide 14: Growing Marketplace Adoption
80 118 668 1,587 2,681 3,871 5,218 6,703 2015 2016 2017 2018 2019 2020 2021 2022 Cumulative Researcher and Supplier Marketplace Users 2015 – 2022 88% CAGR Registered Users (2015 – 2022) Growing Marketplace Adoption ~2,700 Unique searches performed by researchers in the iSpecimen Marketplace in 2022
Slide 15: Growing Data Asset
“Utilization of sample data for research and for monetization is the next key value driver for the biobanks.” - Frost & Sullivan, Global Biobanking Market Landscape Growing Data Asset Banked Specimen Records Patient Records Medical Condition Records Clinical Specimen Records Laboratory Test Records
Slide 16: Statements of Operations
Statements of Operations 16 iSpecimen Inc. Condensed Statement of Operations Years Ended December 31, 2022 (Unaudited) 2021 Revenue $ 10,402,303 $ 11,135,303 Operating expenses: Cost of revenue 4,756,965 5,249,013 Technology 2,656,287 1,837,882 Sales and marketing 3,445,344 2,422,743 Supply developm
Slide 17: Balance Sheets
Balance Sheets 17 iSpecimen Inc. Condensed Balance Sheet Years Ended December 31, 2022 (Unaudited) 2021 Assets Cash $ 15,308,710 $ 27,738,979 Accounts receivable - unbilled 2,327,789 1,739,020 Accounts receivable, net of allowance for doubtful accounts of $230,999 and $269,170 at December 31, 2022 a
Slide 18: Fully Diluted Shares of Common Stock Outstanding
Fully Diluted Shares of Common Stock Outstanding 18 Diluted Shares of Common Stock Shares outstanding at December 31, 2022 8,925,808 Shares issuable upon vesting of restricted stock units 267,505 Shares issuable upon exercise of stock options 297,559 Shares issuable upon exercise of warrant to purch
Slide 19: Tracy Curley, Chief Executive Officer and CFO
Tracy Curley | Chief Executive Officer, Chief Financial Officer and Treasurer Ms . Curley brings three decades of experience in public accounting and corporate finance for both publicly traded companies and emerging companies like iSpecimen and joined iSpecimen in August 2020 . She came to iSpecimen
Slide 20: Investor Summary
Investor Summary 20 >200 Healthcare Provider / Supplier Organizations >450 Customer Organizations 1. $3B - $4B global biospecimen market growing at 10 - 15% per year 2. Early - stage opportunity with a first mover advantage 3. Unique two - sided marketplace disrupting the biospecimen procurement pro
Slide 21: Contact Us
CONNECT. INNOVATE. Sign up for a free iSpecimen Marketplace account at www.ispecimen.com CONTACT US iSpecimen Inc. 450 Bedford Street Lexington, MA 02420 investors@ispecimen.com ispecimen.com
Slide 22: Appendix
Appendix 22
Slide 23: Strategic Evolution
Strategic Evolution PHASE 3 Expansion via the Online iSpecimen Marketplace Ƞ START UP Company Ideation and Self - Funding PHASE 1 Proof of Concept PHASE 2 Critical Mass of Suppliers and Early Customer Adoption 2010 – 2011 2012 – 2013 2014 – 2017 2018 – 2022 0 Customers 1 Supplier Agreement 0 Specime
Slide 24: iSpecimen Marketplace UI/UX
iSpecimen Marketplace UI/UX Click Search to start searching for specimens 24
Slide 25: iSpecimen Marketplace UI/UX
25 iSpecimen Marketplace UI/UX Use search bar to quickly find specimens that match search criteria
Slide 26: Refine Search Results Using Sliders and Check Boxes
Refine Search Results Using Sliders and Check Boxes iSpecimen Marketplace UI/UX 26
Slide 27: View Quote Request and Add More Specimens
View Quote Request and Add More Specimens Request a Quote iSpecimen Marketplace UI/UX 27 Track and Manage Requests
Slide 28: Sources Cited
28 Page Note Source Cited 7 1 iSpecimen estimates based on In Vitro Diagnostics Market Size, Share & Trends Analysis Report By Product, By Application, By Technology (Immunochemistry, Molecular Diagnostics) By End - use, By Region, And Segment Forecasts, 2021 – 2027. Grandview Research, January 2021
Slide 29: Marketplace’
© iSPECIMEN Marketplace’