The Internet of Antibodies
Jonathan Milner
Founder & CEO of Abcam plc
Introduction
• Jonathan Milner, Founder & CEO
• Former lifescience research scientist – studied breast cancer genes at Cam...
Abcam in numbers
Sales

Pre-tax profits

Market cap

£122m

£46.5m

c£1bn

(year to 30 June 2013)

(year to 30 June 2013)
...
What we do
• Manufacture, source and sell protein research tools including antibodies
– Tens of thousands of proteins inte...
The internet of antibodies
• Historically, laboratory reagents were sold from paper catalogues
– Limited quantity and time...
The information flywheel
• The quicker product information is
added, the faster sales grow
• More sales lead to an increas...
Catalogue growth by product over time
130,000

Number of products on the Abcam calalogue over time

120,000
110,000
100,00...
Sales momentum in the catalogue
including unaudited pre-acquisition revenues of Epitomics (reagents) and Ascent

60000

Re...
Continual improvement
• Our website is an ever more important tool for our business
• IT team continues to focus on uptime...
How big can it get?
• Business model designed for scalability
• High growth market fuelled by scientific advances
• Recent...
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abcam - NOAH13 London

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The Internet of Antibodies - Presentation by Jonathan Milner, Co-Founder & CEO of abcam at the NOAH 2013 Conference in London, Old Billingsgate on the 13th of November 2013.

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abcam - NOAH13 London

  1. 1. The Internet of Antibodies Jonathan Milner Founder & CEO of Abcam plc
  2. 2. Introduction • Jonathan Milner, Founder & CEO • Former lifescience research scientist – studied breast cancer genes at Cambridge university • Very exciting time at the start of a golden age of biological research • Unable to buy the reagents needed to conduct gene studies • Founded Abcam in 1998 to sell these reagents – antibodies – from an online catalogue • Vision to create the largest catalogue of the best antibodies in the world • Acquisitions have broadened Abcam into a world leader in protein research tools 2
  3. 3. Abcam in numbers Sales Pre-tax profits Market cap £122m £46.5m c£1bn (year to 30 June 2013) (year to 30 June 2013) (£58m at IPO in 2005) Web pages in Google Publications referencing Abcam products in 2012 Delivering to index 1.75m (source: Google Search) c24k (source: Google Scholar) Number of products c125,000 >100 countries worldwide 3
  4. 4. What we do • Manufacture, source and sell protein research tools including antibodies – Tens of thousands of proteins interact in millions of ways • Antibodies enable research – picks and shovels for studying proteins at a cellular level • Used in scientific breakthroughs leading to new treatments for diseases such as cancer • International customer base – academia to global pharma • The US is Abcam’s largest market – huge US investment in lab bench research • Competitors include Life Technologies, Merck Millipore, Santa Cruz Biotechnology 4
  5. 5. The internet of antibodies • Historically, laboratory reagents were sold from paper catalogues – Limited quantity and timeliness of information , minimal customer interaction • The internet meant product information could be hosted online • Potential for huge quantities of relevant, continually updated information • This information is open source and unique to Abcam products • Dynamic relationship created with online community of scientists • Products manufactured in-house or sourced from third parties and branded Abcam 5
  6. 6. The information flywheel • The quicker product information is added, the faster sales grow • More sales lead to an increased rate of information addition • This leads to improved sales and better pricing • Ultimately this makes the business highly defensible 6
  7. 7. Catalogue growth by product over time 130,000 Number of products on the Abcam calalogue over time 120,000 110,000 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 H1 H2 2001/02 H1 H2 2002/03 H1 H2 2003/04 OEM Primary Antibodies H1 H2 2004/05 H1 H2 2005/06 OEM Other Products H1 H2 2006/07 H1 H2 2007/08 H1 H2 2008/09 Abcam Primary Antibodies H1 H2 2009/10 H1 H2 2010/11 H1 H2 2011/12 Abcam Other Products H1 H2 2012/13
  8. 8. Sales momentum in the catalogue including unaudited pre-acquisition revenues of Epitomics (reagents) and Ascent 60000 Revenue £k calculated at fixed exchange rates 50000 40000 30000 20000 10000 0 H1 H2 2002 / 03 H1 H2 2003 / 04 H1 H2 2004 / 05 H1 H2 2005 / 06 H1 H2 2006 / 07 H1 H2 2007 / 08 H1 H2 2008 / 09 H1 H2 2009 / 10 H1 H2 2010 / 11 H1 H2 2011/12 H1 H2 2012/13 Added pre 2002 / 03 Added in 2002 / 03 Added in 2003 / 04 Added in 2004 / 05 Added in 2005 / 06 Added in 2006 / 07 Added in 2007 / 08 Added in 2008 / 09 Added in 2009 / 10 Added in 2010 / 11 Added in 2011 / 12 Added in 2012 / 13
  9. 9. Continual improvement • Our website is an ever more important tool for our business • IT team continues to focus on uptime and responsiveness – 99.99% uptime on our website – Response time of < 2 seconds for searches • Improving accessibility and functionality of the front-end website • Re-engineering core systems to enhance scalability • Customer surveys, customer focus groups and randomly sampling web visitors 9
  10. 10. How big can it get? • Business model designed for scalability • High growth market fuelled by scientific advances • Recent acquisition of a US company, Epitomics, with exciting new technology • Vision to create the world’s leading lifescience reagents company www.abcam.com 10

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