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DeinoveThe Specialist in Deinococcus Bacteriafor Biofuels and Green Chemistry
Certain information contained in this presentation includes forward-looking statements. Forward-looking statements are not guarantees offuture achievements or performance of the Company and its actualachievements, financial condition, actual results of operations andcash flows and the development of the industry in which it operatesmay differ materially from those made in or suggested by the forward-looking statements contained in this presentation. These statementsare based on management’s current expectations or beliefs andinvolve risks and uncertainties that could cause actual results to differmaterially from those described in the forward looking statements.
Forward Looking Statements
2
CONTENTS
1. Deinove in a Nutshell
3. Deinove’s Technology
4. Deinol Project & Biofuels Applications
5. Deinochem Project: Green Chemistry
6. Deinobiotics Project:Antibiotics
7. Our Progress to date & Next Steps
3
2. Deinove’s Human Assets
Deinove in a Nutshell
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© Copyright
DEINOVE in a Nutshell
Deinove designs and develops breakthrough technologies by exploiting the exceptional properties of the Deinococcus(biodiversity and robustness) to generate innovative industrial processes in biofuels and green chemistry
Development of innovative bioprocesses up to market, in cooperation with industry leaders
Revenues to be generated by licensing agreements
First partnership signed with TEREOS for the production of 2nd-generation ethanol (Industrial pilot planned in 2.5 years)
Sufficient cash secured to fund development programs up to 2014
Break-even expected within 3-4 years
Industry-oriented boards and strong management team
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DEINOVE (1/2)
Key Facts• Founded by Prof. M Radman & Dr Philippe
Pouletty in 2006
• HQ in Paris, Laboratory in Montpellier
• 23 employees, 18 in R&D
• IPO April 2010 (€12m raised)
• Listed on NYSE- Alternext (ALDEI)
• Market cap: €23m (as of Nov 2010)
Finances• Oseo grant and loan € 7m
• Cash in hand €12m (Oct 2010)
• Cash burn guidance approx € 4-5m /year
• R&D expenses: 80% of total
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75%
2%
1% 22%
Truffle Tereos Scientific founders Floating
Shareholders(non diluted basis)
DEINOVE (2/2)
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Scientific Assets
• 6,000 proprietary Deinococci bacteria• Unique technology of bacteria selection
and optimization• 9 international patent applications
Partnerships
• Industrial partnership with Tereos• French academic partnerships: CNRS, INSA• International academic partnership : VTT
(Finland)
Programs• Deinol –2nd generation BIOFUELS from all types of feedstocks• Deinochem – GREEN CHEMISTRY that can substitute petrochemicals• Deinobiotics – next generation
ANTIBIOTICS
Deinove’s Human Assets:
Concentrated Grey Matter &
Light Operational Costs
8
© Copyright
An Integrated MultidisciplinaryR&D Team at Deinove’s Service
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CNRS Marseille
Genomics
3 researchers
VTT Finland
Enzymology
Metabolism
10 researchers
Paris Descartes
Necker Hospital
Genetics
2 consultants
INSA Toulouse
Fermentation
2 researchers
1 consultant
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Deinove’s Lab
Montpellier
Microbiology
Molecular
Biology
Enzymology
18 researchers
VTT – Deinove PartnershipA Major Boost to the Deinol Project
20 Months Research Services Contract signed on June 2010
Objectives:
• Helping Deinove in selecting the candidate host
• Studying biomass digestion properties of Deinococcus (enzymes characterisation)
VTT = Technical research center of Finland / the biggest multitechnological applied research organisation in Northern Europe
Under the Ministry of Employment & Trade
Budget 2010: € 276 million – Headcount: 2935 pers.
1/3 public funding, 1/3 industrial contracts, 1/3 EU, Tekes, etc.
Bio & Process Technology: 450 persons
Areas of research: Health and well-being, Water and Environnement, Industrial Biotech & Green chemistry
Unique Analytical Platform, Excellent expertise in Enzymes & Process Development
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Professor Frédéric DardelTechnology Transfer Advisor to
the President of Paris-Descartes
University
Christian PierretFormer French Minister for Industry
Nabil SakkabFormer Senior Vice President, Corporate
R&D, Procter & Gamble.
Professor Rodney J. RothsteinProfessor of Genetics,
Columbia University (New York)
Paul-Joël DerianVice President R&D, Rhodia
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Philippe Pouletty MDChairman of the Board
An International, Business-FocusedBoard of Directors
Philippe DuvalCEO, Tereos
Bruno WeymullerFormer Strategy Director
of the Total Group
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Multiple Skills
Prof. Gérard Goma
INSA Toulouse
International expert in industrial
bioprocesses and fermentation
Prof. Miroslav Radman
Director, INSERM Unit 571, "Molecular,
Evolutionary and Medical Genetics",
INSERM Grand Prix laureate,
Member of the French Academy of
Science
Prof. Patrick Forterre
Paris-Sud University,
Department
of Microbiology at the
Pasteur Institute.
Florence Lazard
Intellectual property
expert
Ivan Matic
Molecular biology and Genetics
CNRS Research Director
Prof. Pierre Monsan
INSA Toulouse
Enzymologist
Ecole des Mines
Prof. Bernard Pau
University of Montpellier
Strategic Advisor
to Deinove
A multidisciplinary Scientific Advisory Board An experienced management team
Alain Chevallier
CFO
Former CFO, sanofi aventis France
Angelita de Francisco
Business Development Director
Former Secretary General,
France Biotech
Jean-Paul Leonetti, pHD
CSO
Former CNRS Research Director
Jacques Biton, pHD
CEO
20 years in R&D, notably at
Roussel Uclaf /Aventis,
Co-founder of Oroxcell
Deinove’s Technology
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© Copyright
Deinococcus: Naturally adaptedfor Industrial Processes (1/3)
3 to 4 billion years of evolution and adaptation:the most robust living organism on earth
Deinococcus is able to resist extreme industrial conditions:• Temperatures between 30 and 60 °C
• pH range between 3 and 10
• Harsh fermentation conditions (large volumes, non homogenous substrates …)
• Solvents naturally toxic for other bacteria
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Deinococcus: Naturally Adaptedfor Industrial Processes (2/3)
Unique ability to reassemble its genome when damaged • Unique resistance to radiation
• High biological stability
Non pathogenic strain
Non GMO (self-cloning approach)
No need for confinement measures
Easier registration and authorization
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Deinococcus: a Genetic Thief (3/3)
Deinococcus incorporates genes from other rare species
A wide range of functional properties available for industrial applications
Ability to digest biomass: cellulose, hemicellulose, starch, i.e. all components of vegetable biomass
Naturally customized for industrial bioconversion of biomass
Replace feedstocks as substrates for new industrial approaches
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Main Applications of Deinove’s Technology
Green chemistry• Biologically produced compounds
as substitutes for petrochemicals
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Pharmaceuticals• The production of novel
antibiotics for combating newly resistant microbial pathogens
Biofuels• Optimize the production of first- or second-generation
biofuels from all types of bio-based feedstocks
Major, fast-growing markets that are looking for innovative solutions
Deinove’s Expertise
An unrivaled proprietary collection of 6,000 rare Deinococcibacteria
Patented screening and exploitation tools
A genome repair mechanism, discovered and patented by Deinove, that offers a unique technology for bacteria optimization: non GMO
Massive parallel sequencing
Metabolic studies
Fermentation know-how• A dedicated research team of 18 people in Montpellier
• Led by Jean-Paul Leonetti
18
from screening to commercial exploitation
Genomic analysis
3
15
Functional screening
2
Genetic engineering
for optimization
4
Analysis of
fermentation
performance levels
5
Industrial pilot
6
Demonstration
Commercialization
7Sourcing of bacteria
from the environment
1
Deinove’s DeinococcusDevelopment Platform
From screening to commercial exploitation
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Deinove’s DeinococcusDevelopment Platform
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Securing the microbial collection & enlarging its biodiversity
Processing the cell factoryMonitoring of microbial biomass production & sugars consumption
Building the cell factory
5 candidate strainsUnderstanding the metabolismGenome modifications
6000 strains
Creating the tool box
April : 600 Deino thermophile on ethanol
Junel:
Screening the biodiversity1400 Thermophile Deinococci
Transformability of the hostMicrobial Genomes sequenced: > 35Gene resources Genetic tools
Deinove’s DeinococcusDevelopment Platform
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Pilot
6000 Strains
1400 Thermophile
Deinococci
5 Candidates
1 Strain digesting biomass
and fermenting ethanol:
0,5% by Feb 2011
3% by Feb 2011
10% by Feb 2012 (end of
lab scale-up)
The Deinol Project &
Biofuels ApplicationsBIOFUELS
GREEN CHEMISTRY
ANTIBIOTICS
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© Copyright
Biofuels: What are the Challenges?
Need to reduce dependence to oil and to urgently address climate change issues
Stepping from first generation to second-generation biofuels production means:• Using any type of biomass thus reducing food vs fuel competition
• Obtaining better production yields to compete with petrochemical processes
There is a substantial unmet need to develop industrial processes that allow for the optimal digestion of all biomass components – not only glucose.
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Limitations of Traditional Bioethanol Production Processes
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Food crop
Blending Fermentation Distillation
EthanolStarch
Co-products containingcellulose and hemicellulosefrom the branAnimal feed
Enzymes 70° C Yeast 32° C 72°C
Hydrolysis
The DEINOVE Bacterial Factory versus Current Practice
All biomass
Blending
Ethanol
Starch+Bran Cellulose
Hemicellulose
Increased nutritive contentof the co-productfor animal feed
Integrated processDeinococcus 50° C
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Distillation72°C
1 Renewable Fuels Association
Potential Advantages of the Deinove Process
A breakthrough innovation: Use of non-foodbiomass as a feedstock: Digestion of C5 + C6+ cellulose + hemicellulose
Higher yields: + 20%
Implementation in existing factories: Reduction of Capex
Energy savings: less water and energy consumption(no need to cool fermentors)
Less process constraints, resistance to higher ethanol concentrations
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A global market worth $38 billion in 2009
Growing at 10% per year 1
Biomass
Potential Users of Deinove’s Technology
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Agrifood groups (Tereos, Cristal Union, Poet, Roquette, etc.)• Optimization of production costs
Biomass producers (Cargill, papermakers, etc.)• Downstream diversification, value creation
Oil and energy companies (Areva, BP, Exxon, Shell, Total, etc.)• Upstream diversification, added-value capture
The goal: industrial development of a Deinococcus-basedintegrated process for producing second-generationbioethanol
The DEINOL Project: a Major Industrial Partnership
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TOTAL PROJECT COST € 21.4 MILLION
Supported by the French Innovation AgencyOSEO – ISI Program A total of €8.9 million in grant and loan, including €6 million for DeinoveThe largest ever French grant-in-aid in this field
Project leader AcademicPartner
Industrial partner AcademicPartner
Tereos – Deinove Partnership
A global player in sugar, starch and alcohol, committed to R&D in bioethanol 2G through partnered and in-house projects • 35 industrial facilities in Europe, Brazil, Indian Ocean
• 3,800,000 tonnes of sugars
• 1,800,000 tonnes of starch products
• 1,800,000 m3 of alcohols and bioethanol
• 3.3 billion euros in sales
• Cereal processing and sugarcane businesses grouped within a new company, Tereos Internacional (Bovespa:TERI3)
Collaborative Research within the Deinol Project and Non-Exclusive Option to Licence
Tereos will perform the industrial Pilot trials (beg 2013)
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Deinove in Biofuels: Deinol’s timeline & outcomes
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2010/2011 2012 2013 2014 - 2 months 2014
Royalties
Royalties
RoyaltiesMilestone
MilestoneUpfront payment
Upfront payment
DEINOL/TEREOS cereals
DEINOL/Partner : corn, sugar cane
DEINOL/papermanufacturer - cellulose
IndustrialisationIndustrial Pilot Demonstration plant
Research & DevelopmentStrain optimization Labscale Pilot
Commercialisation
Deinove: a Large Spectrum Solution Compared to Competition
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Company Hemicellulose Cellulose
BIOGASOL (DK)
MASCOMA (US) NO NO
TMO Renewables (UK) YES NO
QTEROS (US) NO YES
COSKATA (US)
ZEACHEM (US)
DEINOVE (FR) YES YES
NOSteam explosion + Enzymatic
hydrolysis
Syngas
Enzymatic hydrolysis
The Deinochem
Project
& Green Chemistry
BIOFUELS
GREEN CHEMISTRY
ANTIBIOTICS
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© Copyright
RenewableChemicals
All typesof biomass Blending
starchcellulose
hemicellulose
Deinococcus
Additional outputs from the Deinol project: Deinococcusproduces high-added-value organic acids
The Deinochem Project: Harnessing the Potentialof Bacteria for Green Chemistry
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Deinove in Green Chemistry
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2010/2011 2012 2013
Strains selection
and optimization Lab pilot Commercialisation
2014
CommercialisationIndustrial developmentResearch & Development
Industrial pilot
On-going discussions with potential industrial partners (Tereos, Rhodia,
DSM, etc.)
1st Green chemical project to be partnered in 2011
Deinobiotics Project:
Antibiotics and Anti-
fungal Discovery
BIOFUELS
GREEN CHEMISTRY
ANTIBIOTICS
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© Copyright
Serendipitous outputs from Deinove’s collection: several strains produce compounds with strong antibacterial and antifungal activities
A critical public health issue: epidemic infections and multiresistance to today's antibiotics
Strong demand from clinicians and health authorities
All today's antibiotics have been derived from the same, conventional bacteria
Deinobiotics : Leveraging our Bacterial Collection
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registration of new antibiotics (1993-2009)
88/92 93/
9798/02
03/07
83/87
1980 1985 1990 1995 2000
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20
30
40
50
60
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14
12
10
2
4
6
8
18
2005
Progression of antibiotic-resistant microbial infections
Source: ISDA « Bad bugs, no drugs »
DEINOBIOTICS: from Biodiversity to Molecular Diversity
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An example of strain producing antibiotic compounds
Deinove bacterium
StaphylococcusZone with antibiotic activity
70 diverse strains selected out of 6,000 having anti Gram positive, anti Gram
negative and antifungal activities
First in vivo assay in 2011
Our Progress to Date
Next Steps
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© Copyright
Progress since the IPO
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July 2010 - VTT Finland Partnership signed in July 2010:
a major asset for the Deinol Project
July 2010 - OSEO 1st payment for Deinol Project
Oct 2010 - Philippe Duval, CEO of TEREOS, joined the Board
Oct 2010 – Deinobiotics Project receives a new OSEO major financing of €1.35 m ; Consortium agreement between Partners (Nosopharm, 2 CNRS Labs and Deinove)
Dec 2010 - 2 New Patents filed; Founding Patent receives Notification of Allowance from European Patent Office
Perfectly in line with our roadmap…
Newsflow: Excellent Mid-term Perspectives
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2010-2011
Partnershipin green chemistry
R&D agreementin bioethanol
2012
Partnership in green chemistry
Partnership in bioethanol (corn)
Antibiotic drugcandidate
2013
Partnershipin green chemistry
New ethanolpartnerships (sugarcane, sugar beet …)
Licensing an antibioticcandidate
2014
New bioethanollicense agreements
Antibiotic drugcandidate
Financial breakeven
IndustrialPilot
Demonstrationplant
Lab PilotR&D Production
Conclusion
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The Deinococcus company
A focused business model
Breakthrough technology
Tereos agreement
Untapped markets
Breakeven by 2014
Substantial revenue stream
Contact us
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Jacques Biton, CEO
Tel: + 33(0)1 42 03 27 37
Cell: + 33 (0)6 87 20 10 76
Elisabetta Castelli, Investor Relations
Cell: + 33(0)6 13 66 39 39
www.deinove.com