Safe Harbor / Non-GAAP financial measures
This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements in this presentation which are not strictly historical statements including, without limitation, express or implied statements or guidance regarding Repligen's estimated financial results for full year 2024, future financial performance and other statements identified by words like "estimated," "anticipated," "guidance," or "goal," and similar expressions are forward-looking statements. These statements are subject to risks and uncertainties which may cause our plans to change or actual results to differ materially from those anticipated. In particular, unforeseen events outside of our control may adversely impact future results. Additional information concerning these factors is discussed in our reports filed with the Securities and Exchange Commission including recent Form 8-Ks, our most recent Annual Report on Form 10K and our most recent Quarterly Reports on Form 10Q, all of which are available on our website. The forward-looking statements in this presentation reflect management's current views and may become obsolete as a result of new information, future events or otherwise. We may not update such forward looking statements to reflect a change of events or circumstances that occur after the date hereof, except as required by law. The industry and market data contained in this presentation are based on management's own estimates, independent publications, government publications, reports by market research firms or other published independent sources, and, in each case, are believed by management to be reasonable estimates. Although we believe these sources are reliable, we have not independently verified the information. This presentation discloses certain financial measures not prepared in accordance with generally accepted accounting principles, or GAAP. Repligen strongly encourages investors to review our consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used herein may differ from similar measures used by other companies, even when similar terms are used to identify such measures.
Repligen Overview
Inspiring Advances in Bioprocessing
Bioprocess markets showing signs of improvement
Bioprocessing market challenges
2023 down market for Bioprocessing
• CDMO significant destocking
• Pharma destocking, project delays, conservative capital spend
• Contraction in funding for startup biotech
• China macro headwinds
Repligen indications of recovery
• Opportunity funnel has improved >50% in 2023
• Order strength in H2 2023 in Pharma, CDMO
• Expansion of Fluid Management; M&A execution
• Exciting new product launches:
• XCell® LS Controller, TangenX® SC TFF, KrosFlo® RPM
Our Lens: 2024 turning point, 2025 return to more robust growth
"Base" business excludes COVID-related & inorganic M&A revenue.
We are the innovation leader in bioprocessing
Enabling efficient, single-use, high-productivity biological drug manufacturing
$639M
2023 Revenue
+27%
5-year CAGR 2018-2023
+18%
5-year avg. base growth 2019-2023
12
M&A Deals since 2016
12
Disruptive technology launches
4
Distinct franchises
13%
revenue from new products*
65%/ 35%
Clinical/ Commercial revenue mix
Challenging year in bioprocessing
Industry-leading growthSelective portfolio expansion
*2021-2023
"Base" business excludes COVID-related & inorganic M&A revenue.
Tailwind for future growth
Antibody market (mAbs/Bispecifics/ADCs and Biosimilars)
Monoclonal Antibodies (originators)
>$175B
160
Market 2022
U.S. FDA approvals
Market leader in Protein
Biosimilars
>$8B
Market 2022
31
U.S. FDA approvals across 9 originators
1.The Antibody Society: Antibodies to watch in 2023; Company filings/guidance Growth: Market research reports (Allied Market Research, etc.)
>1,000
Phase I-III1
>2,500
Active clinical trials1
5
Blockbuster mAbs coming off-patent 2024-2026, representing
>$30B
in 2022 originator sales
Repligen is well positioned
Leader in upstream process intensification
Addressing downstream challenges with systems, advanced analytics and single-use products
A ligand development
Approvals: Approval numbers as of 12/31/23 U.S. FDA website; Repligen internal tracker
New modalities market (Cell, Gene Therapy, mRNA)
>$7B
22
>800
Market 2022
Cell1, Gene and RNA
Therapies
U.S. FDA approvals: 12 Gene 10 Cell
Phase I-III2
>3,000
Active clinical trials2
Repligen gaining share
• Upstream process intensification
• Customers scaling; esp. Filtration and Chromatography
• 25 accounts generating >$1M each
• 18% of 2023 revenue
1Cell therapy excludes non-gene modified cell therapy; 2ASGCT Q3 2023 Quarterly Data Report; 3CVS Health, Gene Therapy report Q42023-Q42027; Company filings/guidance Approvals: Approval numbers as of 12/14/23 U.S. FDA website; Repligen internal tracker; Growth: Market research reports (Grandview, ASCGT); *2023 C> revenue estimate as of Oct. 31, 2023
RGEN New Modalities Revenue ~28% 3-yr. CAGR $116M $54M 2020 2023 | New Modality Revenue Mix 2023 9% 14% 49% 28% AAVmRNALenti/CAR-TOther |
Expanding addressable market now $12B; $20B total market
PROCESS ANALYTICS
Delivering above industry-average growth, creating new markets, taking share
Strong revenue growth driven by innovation and portfolio expansion
Base business has more than doubled through COVID years
Long life-cycle, highly differentiated portfolio
Our blueprint for value creation
Strategic M&A
Acquire companies with technological differentiation and accretive financials
Add & build out new platforms that expand our integrated solutions offering
R&D innovation and technology integration
Introduce first-to-market, technologically disruptive products
Create integrated, platform solutions across bioprocessing workflow
Commercial & Operational Excellence
Strengthen integrated solutions selling across portfolio
Drive margin expansion through cost discipline and the optimization of our global network and resource base
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Repligen Corporation published this content on 01 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2024 22:15:32 UTC.