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© 2013 Agrivida, Inc. | 1
Agrivida Investor Presentation
BIO World Congress 2013 - Clean Tech Investor Session
Mark Wong, CEO
© 2013 Agrivida, Inc. | 2
Disclosures
This Investor Presentation by Agrivida, Inc. (the “Company”) is solely for use by the recipient in considering its potential interest in
becoming a investor in the Company. This Investor Presentation is not an offer to sell or solicitation of an offer to purchase
securities of the Company. If interested in investing in the Company’s securities, the purchaser would have to meet certain
qualifications. Such a transaction would be effected in a private offering, without registration under the federal securities laws
(Securities Act of 1933) or applicable state law. No class of securities is registered under federal securities laws, and the Company
does not make periodic disclosures as required by those laws for publicly-owned companies. Further there is no public market for
the Company’s securities and none is likely to develop.
This Investor Presentation is Confidential. This Investor Presentation has been prepared by the Company for the exclusive use of
recipients and their designated representatives and may not be used by, distributed to, discussed with others or copied.
The information presented herein was prepared by the Company. The Company makes no representations or warranties as to the
accuracy or completeness of any information provided herein. Further, this Investor Presentation does not contain all of the
information that a recipient may need to determine whether to pursue or make an investment in the Company. Each recipient must
conduct and rely on its own evaluation of the merits of making an investment and the risks involved in doing so.
This Investor Presentation includes statements, estimates and projections with respect to the Company’s future performance.
Certain statements made by the Company in this Investor Presentation are not historical and are considered forward looking
statements under the Private Securities Litigation Reform Act of 1995. Forward looking statements generally include beliefs,
hopes, intentions or strategies regarding the Company’s future. Forward looking statements include estimates and projections and
reflect assumptions by the Company, made in good faith, that may or may not prove to be correct, and no representation is made
and no assurance can be or is given that the Company can or will attain such results. Forward looking statements are subject to
risks, uncertainties, and other factors, some of which are not currently known to the Company. Actual events or results may differ
materially from those expressed or implied from forward looking statements as a result of various factors. Some of such risks,
uncertainties and other factors can be found in the Private Placement Memorandum describing securities being offered by the
Company. The Company assumes no obligation to update any forward looking statement to reflect events or circumstances
arising after the date on which it was made.
The date of this Investor Presentation is June 2013.
© 2013 Agrivida, Inc. | 3
Overview
© 2013 Agrivida, Inc. | 4
Agrivida Overview
• An industrial biotechnology company with expertise in:
• Protein engineering
• Molecular biology
• Plant biotechnology
• Agronomy
• Chemical engineering
• Founded in 2003; “A” Round closed in 2007
• 45 employees, 20 PhDs
• Located near Boston
• Kleiner Perkins funded company
© 2013 Agrivida, Inc. | 5
Agrivida’s breakthrough INzymeTM technology
• Enzymes catalyze chemical reactions
• Almost all chemical reactions in
biological systems require enzymes
• Enables a radical improvement in
product cost and/or performance.
• Proprietary "on-off” biological switch
that regulates enzyme behavior
The Importance of
Enzymes
Technology Value
Proposition
© 2013 Agrivida, Inc. | 6
Agrivida’s breakthrough INzymeTM technology
• Currently, the industry cannot
precisely control enzyme activity
• As a result, these natural catalysts
have been deployed in a suboptimal
fashion
Using protein engineering Agrivida
has developed its ground-breaking
INzymeTM technology, which precisely
controls enzyme activity
The Technology
Problem
The Agrivida
Solution
© 2013 Agrivida, Inc. | 7
INzymeTM
Technology
Animal Nutrition
Conversion of low-value biomass into high-value animal nutrition products, reducing component costs by 70%
Industrial Enzymes
Delivers high-performance regulated enzymes for detergent, oil and gas and animal nutrition applications
Ultra-Cheap Sugar
Enables biomass conversion into ultra-cheap sugar feedstock ($0.08/lb.) for bio- based chemicals & fuels
Regulated enzyme activity creates novel products in many diverse global markets
© 2013 Agrivida, Inc. | 8
Agrivida Development Timeline
© 2012 Agrivida, Inc. | 8
Kleiner Perkins leads Series
A Financing; Agrivida grows
from 12 to 25 employees
DAG Ventures leads Series
B Financing; Agrivida grows
to ~45 employees
Agrivida’s first
patents issued
Mark Wong
becomes CEO
Agrivida delivers first
single- enzyme
transgenic events
Agrivida wins award in first
ARPA-E FOA; also receives
USDA BRDI grant award
Agrivida & Syngenta form
partnership to develop
enzyme-based traits
Agrivida demonstrates
multiple INzymesTM in plants
increase process value
Agrivida expands
number of INzymesTM
in plants to drive
process value
Agrivida plants
first field trials
in 2012 Agrivida begins plant
transformation
Agrivida & POET
sign technology JDA
Agrivida testing improved
animal feeds
2007
Agrivida begins
work on industrial
enzyme products
2003
Founded
2008 2009 2010 2011 2012 2013
© 2013 Agrivida, Inc. | 9
Agrivida Today
• Intein commercial applications broader than originally believed
• Improved animal nutrition
• Industrial and consumer applications
• Cheap sugar for fuels and chemicals
• Regional growth focus – Brazil
• Broad crop species applicability
• Corn (Primary crop), Sorghum, Sugarcane, Switch grass
• World leader in intein regulation technology
• Science is very difficult to perfect
• IP portfolio is substantial barrier
• Alternative methods have all failed or proven to be uneconomic
© 2013 Agrivida, Inc. | 10
Agrivida Today
• Strong IP Portfolio
• 28 patents issued or pending
• Plants containing intein modified proteins
• Intein modified proteins and enzymes
• Plant development methods and process
• Intein modified proteins
• Favorable and permanent license agreements
• Syngenta
• 150 patents
• Enzyme library
• Other
• Strong institutional VC sponsorship
© 2013 Agrivida, Inc. | 11
Agrivida Go Forward Strategy
• Capitalize on the broader commercial applicability of the core
INzymeTM technology
• Patented technology is the only one of its kind
• Technology toolbox – the ability to “switch” enzymes on/off during a
chemical process - is applicable to a broad range of areas
• Partner with industry leading market participants for -
• Proof on concept validation
• Commercialization and implementation of the technology into relevant
industry processes
• Create and sell processes and solutions that leverage
Agrivida’s technology
© 2013 Agrivida, Inc. | 12
INzymeTM Technology
© 2013 Agrivida, Inc. | 13
Agrivida’s INzymeTM technology regulates enzyme activity to create unique properties
Enzyme
(active)
INzymeTM Engineered Enzyme
Protein Engineering +
Intein
Agrivida’s ground-breaking INzymeTM
technology uses protein engineering to
precisely control enzyme activity
INzymeTM Activation
(Temperature exposure, pH
change)
+
Intein
Enzyme
(active – “on mode”)
Proprietary biological “off-on” switch that regulates
enzyme behavior to enable a radical improvement in
enzyme-based products with unique properties
(inactive – “off mode”)
© 2013 Agrivida, Inc. | 14
Commercialization
© 2013 Agrivida, Inc. | 15
Agrivida Business Model
• Animal Nutrition
• Agrivida will sell animal nutrition products and license its trait technology
to seed companies
• The INzymeTM biomass will be used as a replacement for corn grain
• Industrial Enzyme Products
• High-performance, proprietary enzymes that create differentiated value
and are microbially produced
• Agrivida will selectively sell and license enzymes to end users and other
enzyme producers
• Bio-based Chemicals and Fuels
• Agrivida will license its processing technology to production facilities and
opportunistically joint venture with targeted partners
• For a typical facility, Agrivida will deliver a $200 per ton of product
reduction in operating expenses
© 2013 Agrivida, Inc. | 16
Agrivida Revenue Model
© 2012 Agrivida, Inc. | 16
Technologies:
• Crop Traits
• Process
Technology
• Industrial
Enzymes
Large, Diverse
Markets:
• Animal
Nutrition
• Crop seeds
• Industrial
Enzymes
• Bio-based
chemicals
• Biofuels
Technology Licenses
$ - License & Recurring Royalty Fees
Animal nutrition products, industrial
enzymes, seed
$ - Product revenues
© 2013 Agrivida, Inc. | 17
• Current development and commercialization application partnerships
• Animal feedstock (ADM)
• Household detergents
• Oil and gas wells (Verenium)
• Bio-based fuels (POET)
1st Trait
Milestone Payment
(Chemicals & Fuels)
Commercial Product
Development
(Industrial Enzymes)
Feeding tests completed
(Animal Nutrition)
1st commercial product sales &
royalty payments
(Industrial Enzymes)
1st Demo Production
(Chemicals & Fuels)
1st Product sales
(Animal Nutrition)
1st License fees
(Industrial Enzymes)
1st License payment
(Chemicals & Fuels)
1st Commercial production
(Chemicals & Fuels)
Agrivida Commercialization Timeline
2013 2014 2015 2016 2017
© 2013 Agrivida, Inc. | 18
Agrivida Capital Strategy
• “C” Round first close of $25 million completed in late 2012
• Runway through Q3 2014
• Closing commercial partnerships in 2013 & early 2014
• Animal nutrition
• Industrial enzymes
• Oil & gas production
• Household care products (detergents)
• Pulp & paper
• Bio-based chemicals & fuels
• Cash positive projection – 2016
• Planned “D” Round starting in early 2014
© 2013 Agrivida, Inc. | 19
Summary: Agrivida delivers disruptive bio-based products for diverse markets
Proprietary
Technologies • Protein engineering
• Plant transformation
• Process engineering
Global Markets • Animal Nutrition, $240B
• Chemicals, $2,200B
• Fuels, $1,500B
• Enzymes, $6B
Premier Partners • Syngenta, ADM, POET,
Verenium,
Compelling
Business Model • Product sales and licensing
revenue
• $1.8B in revenue by 2020
World Class Team • Industry leading
management / scientist
experience
Disruptive Products • Digestible animal nutrition
(70% lower input cost)
• Ultra-cheap sugar (8¢/lb.)
• Regulated, high-value
enzymes