2. DEINOVE
THE DEINOCOCCUS WAY
DEINOVE is a cleantech company that designs, develops and markets a new
generation of industrial processes based on ancestral bacteria with untapped
potential: the deinococci.
These new systems open the way for manufacturing of rare or technologically inaccessible
products:
• Second-generation biofuels (DEINOL)
• High added value biochemicals (DEINOCHEM)
• New antibiotics (DEINOBIOTICS SAS)
• Enzymes for the remediation of plastics (THANAPLAST™ lead by CARBIOS)
DEINOVE intends to provide new industrial technology standards that enable it to meet the great
world challenges: preparing for the post-oil era, switching to green chemistry, fighting against
antibiotic resistance and improving the life cycle of plastics.
2
3. DEINOVE
KEY DATES
1st data from the DEINOBIOTICS program
Proprietary technological platform
Initiation of DEINOBIOTICS program
Changeover to 300L fermenters for DEINOL
Initiation of DEINOCHEM program
6M€ funding received for DEINOCHEM
from the French government
Deinobank (6 000 strains)
DEINOL EC2 (POC)
THANAPLAST™ program
Initiation of DEINOL program
Deinobank (25 strains)
DEINOL
EC1
2006
2007
Inception,
co-founders
Pr Miroslav RADMAN
Dr Philippe POULETTY
Team
2
2008
2009
2010
OSEO funding
(€6 m)
Jacques BITON
CEO
5
2011
2012
OSEO funding
(€1.57 m)
IPO (€12 m)
Partnership with TEREOS
Partnership with VTT
OSEO funding (€1.4 m)
31
2013
Emmanuel PETIOT
CEO
OSEO funding
(€1.15 m)
Market Cap: €53 m
40
3
5. DEINOVE
EMPOWERING INNOVATION AND BIOTRANSFORMATION
Second generation biofuels
Chemicals, Specialty Chemicals, Natural molecules and
Bioremediation
DEINOL…and beyond
DEINOCHEM
Ethanol
1.5G
Ethanol
2G
Advanced
Biofuels
•
•
•
•
Fragrances
Flavours
Chemicals
Chemical
intermediates
Bioremediation
Other
Molecules
Isoprenoids
•
•
•
Chemicals
Chemical
intermediates
Sweeteners
•
•
•
•
•
Animal Feed
Food
Cosmetics
Waste
remediation
Deinococcus
as a host
strain
5
6. THE DEINOCOCCUS “MICRO-FACTORY”
A SUM OF ECONOMIC AND ENVIRONMENTAL BENEFITS
RARE OR TECHNOLOGICALLY
INACCESSIBLE PRODUCTS
STABLE AND
REPRODUCTIBLE
PRODUCTION SYSTEMS
GREAT CAPACITY TO
DEGRADE BIOMASS
EXCEPTIONAL
ROBUSTNESS
Temperature, pH, desiccation
HIGH GENOMIC STABILITY
Capacity to “capture” genetic
material from other organisms
in a highly stable manner
GREAT TOLERANCE TO
PHYSICAL AND CHEMICAL
STRESS
THERMOPHILIC
NON-PATHOGENIC
Operating range
40°C to 50°C
FERMENTATION CAPABILITY
FOR LONG CHAIN SUGARS
(C6, C5)
For human, animal
and environment
REDUCED PRODUCTION
AND MAINTENANCE
COSTS
BETTER RECOVERY
OF CO-PRODUCTS
6
7. THE PROPRIETARY TECHNOLOGICAL PLATFORM
THE BEST OF GENETIC ENGINEERING AND BACTERIOLOGY
COLLECTION
ARCHIVING
Samples
collection in
extreme
environment
Library of
cryopreserved
strains
SELECTION
OPTIMISATION
Physiology
Metabolic
Genomic
High-throughput
growth assays
Functional tests
PCR
Sequencing
& Annotation
Gene expression
measurement
Microbiology
DEINOBANK
S1
S2
S3
LEAD
Genetic &
Metabolic
Engineering
Gene insertion
Gene deletion
Sequence
optimization
DEINOCOCCUS
CANDIDATE
SCALE UP
Fermentation
engineering
Industrial
engineering
Optimization of
culture &
fermentation
processes
Lab Assays
Test &
Integration
POC
LAB PILOT
(6,000 clones)
INDUSTRIAL
PILOT
PRODUCTION
7
8. A LARGE 6000 STRAINS DEINOBANK
INCLUDING NUMEROUS NEW BACTERIA
Samples collection in various places and environments …
…original strains linked to a radiation selection
…new carbon sources
A large Deinobank (1800 strains) and lots of original strains (4200)
All the strains have been collected in conformity with international regulations (CBD)
Source of the new biocatalysts
8
9. A TARGETED STRATEGY OF DEVELOPMENT
ACCELERATE AND MAXIMISE THE CREATION OF VALUE
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Proof of concept
BIOFUELS
R&D
Lab.Pilote
Industrial
pilote
Non exclusive licences
Proof of concept
GREEN CHEMICALS
R&D
Industrial
Dev.
Non exclusive licences
Proof of principle
ANTIBIOTICS
R&D
Preclinical
Dev.
Exclusive licences
9
11. THE GREEN CHEMISTRY
A FAST GROWING EMERGENT MARKET
Objective of the EU : 15% of renewable
resources in chemistry in 2020*
Today’s level : 8 - 10%
Boosted by oil’s price increase
Supported by public authorities
(REACH Directive, World pact on climate …)
A large number of players
• Food industry, cosmetics, chemistry, oil
industry, biotechs, cleantechs, investment
funds, Coca Cola, Danone, Heinz…
A worldwide competition
•
Necessity to find reliable partners and
important financial resources
Plastics and polymers market (700 M$)
CAROTENIDS
Cosmetics
Agrochemicals
700m$
Unit price
•
•
•
The addressable markets for DEINOVE
ISOPRENOIDS
Fine chemicals
Fragrances
Biopharmaceutica
ls
70M$
N-BUTANOL
Solvents
Paints
Plastics
10M$
ENZYMES
Chemistry
Biopharmaceutical
s
Hundreds of m$
*Green
HIGH ADDED
VALUE SUGARS
Food industry
1M$
PROTEINS
Food
Biopharmaceuticals
100M$
CHEMICAL
INTERMEDIATES
Fuels
Chemistry
50M$
Volume
Univers, Panorama des Cleantech, January 2012
11
12. THE DEINOCOCCUS WAY
GET THE BEST OUT OF BIOMASS
FERMENTATION
PATHWAY
ISOPRENOIDS PATHWAY
HO
HO
HO
CH3
HO
HO
HO
O
H3C
OH
CH2
O
CH2
AcCoA
HO
HO
Geraniol
MalonylCoA
AcetoAcCoA
OH
OH
H3C
Conversion of
C5 & C6 sugars
Linalol
H3C
CH3
OH
CH3
Isoprene
CH3
Cosmetics
Fine chemistry
Animal feed
hydroxybutyrylCoA
AMINO ACIDS DERIVED
PATHWAY
O
crotonylCoA
H2C
O
O
Acrylate
H2 C
O
H3C
HO
OH
OH
O
NH 2
O
O
OH
OH
H2N
H3C
butyrylCoA
O
H3C
CH3
NH 2
Diaminobutane
Isobutanol
CH2
H3 C
CH3
H3 C
H3C
H3C
OH
OH
CH2
Isobutene
H3 C
StyrEne
Butanol
Butanol
Solvents
Paints
Plastics
Bio-sourced
chemical products
1
12
13. DEINOCHEM
6M€ FUNDING RECEIVED FROM FRENCH GOVERNMENT
TO SUPPORT THIS STRATEGIC SECTOR
A smart strategy of diversification and exploitation of
DEINOL achievements:
• Strains of interest already identified
• A proprietary technological platform
• Reduced Time-to-market
A scale shift with the new Cap Sigma laboratories:
•
•
Clean room for advanced robotics
Automated strains’ design
• Parallel fermentors up to 20 L
13
14. DEINOCHEM
AN ACTIVE PHASE OF VALUE CREATION
Make DEINOVE’s platform profitable with high
added value developments:
•
Specialty products / high price
•
Target markets : Fine chemistry, flavours, cosmetics,
fragrances, animal feed
The Plus of DEINOVE technology:
•
•
•
Constant productivity improvements
Adaptability to industrial constraints: genetic plasticity,
solvents resistance, increased output, reduced production
costs
Robustness and replicability of processes
14
15. DEINOCHEM
A NATURAL MARKET FOR DEINOVE
The Plus of the Deinococci
•
•
•
•
•
•
Natural affinity for most of the targeted metabolic
pathways (ex: isoprenoids)
Genetic plasticity (a key property to overcome
the complex steps)
Resistance to solvents (growth under high
concentations)
Adaptability to the substrate of the future:
lignocellulosic biomass
Co-digest of C5 and C6 sugars (improvement of
the output)
Thermophilic (improvement of the output and the
cost efficiency)
The Plus of the DEINOL program
•
•
Players common to biofuels and green
chemistry both known by DEINOVE
A shared technological platform which
has proved its worth in a very
demanding field : 2G bioethanol
DEINOBANK
-
SELECTION
Physiology
Metabolomic
Microbiology
Genomic
OPTIMISATION
Genetic & Metabolic Engineering
Fermentation Engineering
SCALE UP
15
17. THE BIOFUELS MARKET
+70% OF GROWTH ON THE 2006-2013 PERIOD
BIOFUELS
Production & Consumption in EU
(million of liters)
10 000
15 000
9 000
Biodiesel consumption
12 500
8 000
6 000
5 000
7 500
4 000
5 000
3 000
Bioéthanol
Bioethanol
Biodiesel
7 000
10 000
Biodiesel production
biodiesel Importation
Biodiesel
biodiesel
Bioethanol consumption
bioéthanol
Bioethanol production
bioéthanolBioethanol
Bioethanol importation
production
bioéthanol
2 000
2 500
1 000
0
2006
2007
2008
2009
2010
2011
2012
2013
Sources : EU FAS Posts
17
18. THE BIOFUELS MARKET
THE INESCAPABLE EMERGENCE OF BIOMASS
Renewable Fuels Standard (RFS2)
Billion liters / year (RFS2)
Billions of Gallons per Year
40
150
35
Advanced
biofuels
30
100
25
20
75
Cellulosic
bioethanol
Biodiesel from
biomass
15
1st generation
biofuels
10
40
20
5
00
2010
2015
2020
Massachusetts Institute of Technology (MIT), September 2011
18
19. DEINOL
FINDING THE STANDARD TO 2G BIOFUELS
PROJECT LEADER
INDUSTRIAL PARTNER
SHAREHOLDER
FINANCIAL SUPPORT
€ 8.9 million of grants and
repayable advances: the
largest funding for a biofuels
program in France
NO. 1 European
manufacturer of bioethanol
Developing an integrated industrial process based on
Deinococcus to produce 2G bioethanol
Budget: € 21.4 million
ACADEMIC PARTNER
ACADEMIC PARTNER
19
20. THE DEINOL PROGRAM
AN “ALL IN ONE” PROCESS WITH MULTIPLE BENEFITS
YIELD ++
PROCESSES IN
DEVELOPMENT
2G bioethanol
Enzymatic hydrolysis
70°C
Fermentation
37°C
Proof of
concept
Distillation
Pretreatment
NON FOOD
BIOMASS
LIGHT
DEINOL
SINGLE STAGE AT 50°C
VERY ROBUST
NO ADDITIVE
Coproducts
NUTRITIONAL
QUALITY ++
20
21. DEINOL
THE POTENTIAL TECHNOLOGICAL STANDARD OF 2G BIOETHANOL
ENZYMES
+ YEAST
ENZYMES +
YEAST OR
OPTIMIZED
BACTERIA
DEINOL
ADVANTAGES
Pretreatment
Yes
Yes
Light
Reduced costs
Conversion of complex sugars
No
Yes
Improved
Performance optimization
Fermentation of C5 and C6
sugars
No
C6 (yes)
C5 (no)
Yes
Yield optimization
Assimilation of glycerol and
acetic acide
No
No or ineffective
Yes
Yield optimization
ACOH toxicity reduced
Stability
High
Low
Very high
Reproducibility
Availability
Robustness
Average
Low
Exceptional
Reproducibility
Availability
Reduced maintenance
Temperature
35°C
35°C
Up to 60°C
Reduced costs
Energy efficiency +
NB : Due to its low levels of competitiveness (10€/l) and yield (± 1,5%), microalgae-based fuel is not shown in this table.
21
22. DEINOL
AN ACCELERATED DEVELOPMENT
2011
2012
2013
2014
2014-2015
PROCESS
PREVALIDATION
PROOF OF
CONCEPT
PILOT LAB
INDUSTRIAL PILOT
PRODUCTION
Without additive,
the optimized
strain transforms
the same substrate
into bioethanol
with an alcohol
content of 3%
Target:
process validation
in large fermenter
(300L) with SANOFI
and further
optimization
The optimized
strain degrade
more than 80% of
a wheat-based
biomass into
simple sugars
Industrial validation
in operating plant
Market
production
Hard endosperm
Soft endosperm
1.5 & 2G BIOFUELS
Germ
Aleurone
Pericarp
Tip cap
22
24. DEINOVE
IN A NUTSHELL
• A unique position in the sector of plant chemistry: the Deinotechnologies
• Proprietary metabolic engineering tools to convert Deinococcus bacterial micro-factories into industrial
production systems
• A wide range of applications: all the bio sourced products that can be substituted for oil based products:
2G biofuels, chemistry intermediates, green chemistry, drugs…
• The proof of concept in 2G bioethanol with DEINOL, a1st promising result in green chemistry, a market
worth more than 80M$
• The beginning of green chemistry exploration (hundreds of M$) with the 1st step of DEINOCHEM, an
isoprenoid R&D dedicated program financed up to 6M€ by the Investissements d’Avenir sponsored by
the French Government
• A world-class scientific, engineers and managers team who delivers
• An academic network which gathers the world’s best specialists of synthetic biology and of the
Deinococcus
• A mid and long term ambition to live up the shareholders commitments thanks to the support of Truffle
Capital, and the French Government
24
25. DEINOVE
KEY FINANCIAL FIGURES
•
•
•
6m € funding received from French Government (Investissements d’Avenir) to
support the DEINOCHEM program (PR dated 13 11 13)
Set up off standby Equity Facility PACEO® with Société Générale (within the
limit of 9% of the current share capital) in order to reinforce the flexibility and
the sources of financing (PR dated 31 10 13)
On June 30th, 2013, sufficient cash covering company’s needs until Q3 2014
> Significant improvement compared to what was planned early 2013
> With equal resources and in spite of an intensification of research efforts
•
Semester net loss decreased by 8%
> -1,3 m€ vs. -1,4 m€ for 2012
•
The net financial position reaches +4,1 m€, VS +6,5 m€ at the end of 2012.
> It does not integrate the refund to CIR of 0,9 m€ received in July 2013 (PR dated July 15 2013)
25
26. MANAGEMENT
A TEAM OF EXPERTS WITH INTERNATIONAL BACKGROUND
Emmanuel PETIOT
Former Sales Director at
NOVOZYMES North
America Inc.
EDHEC, École Centrale
Paris
Elisabetta CASTELLI,
PhD
Nagib WARD
CEO
Jean Paul LEONETTI,
PhD
VP of R&D
Former team leader at
CBPS (CNRS).
PhD in Microbiology,
University of Montpellier
VP, Business
Development
Former Marketing and BD
Manager at Novozymes
North America Inc.
Degree in Chemistry and
Biochemistry, Northern
Michigan University
MBA, Marquette
University
Julien COSTE
CFO
Former CFO at Neuro3D and
at the French branch of
Publicis Healthcare
Communication Group
(PHCG).
ESC Grenoble, Paris
Dauphine
Director of
Communications & IR
Former CEO of the Equity
branch of Deutsch Bank
(BT Alex Brown).
London School of
Economics
26
27. BOARD OF DIRECTORS
WOLRD-CLASS PERSONALITIES
Dr Philippe POULETTY
Non-executive Chairman
Co-founder
Christian PIERRET
Pr Frédéric DARDEL
Bruno WEYMULLER
Former French Minister
of Industry
Co-founder
Former Head of Group
Strategy TOTAL
Co-Fonder & General Partner
of TRUFFLE CAPITAL
Chairman of the PARIS
DESCARTES UNIVERSITY
Nabil SAKKAB
Pr Rodney J. ROTHSTEIN
Paul-Joël DERIAN
Former Head of Group R&D
PROCTER & GAMBLE
Professor of Genetics,
COLUMBIA UNIVERSITY,
New York USA
Head of Group R&D SUEZ
ENVIRONNEMENT
27
28. EQUITY STORY
SHARE CAPITAL & STOCK EVOLUTION IN 2013
Share Price Evolution in 2013
Capital (30.06.13)
(totaly dilluted)
AUM of Truffle
Capital
Scientific
founders*
Tereos EU
33.38%
52..43%
6,18%
2,05%
5.96%
*
Management &
Board members
Free float
M. Radman, Paris Descartes University
Number of shares: 5.002 million
(5.869 million totaly dilluted)
28
29. CONTACTS
Emmanuel PETIOT
CEO
Phone : + 33 6 13 80 25 30
emmanuel.petiot@deinove.com
Elisabetta CASTELLI
VP, IR and Communication
Phone + 33 6 13 66 39 39
elisabetta.castelli@deinove.com
29