Vive Crop Protection - Keith Thomas

Report
Vive Summary
• Vive reformulates existing pesticides for the $46 Billion crop
protection industry, addressing issues jeopardizing the industry
• Replace organic solvents with biodegradable or bio-inert polymers
• Working with six global crop protection companies on products with
$8 billion total addressable market
• Six products in field trials with results expected by year end
• Trials demonstrate Vive formulations are more effective than
current products
• Products and process are patented and are 100% owned
• Experienced management team and advisors
• Raised $16 MM to date
2
The Growing Use of Pesticides is Assured
$46B
pesticide industry
Crop Yields are
a Worldwide Issue
•
•
•
•
Population growth
Shrinking arable land
Changing diets
Biofuels
3
Yet Industry Profits are Under Pressure
Patent
Cliff
Lack of
New Molecules
Regulatory
Barriers
Crop Protection Industry
Syngenta | Bayer | BASF | DuPont | Dow
Pressure from Generics
4
Addressing Crop Protection Industry’s Key Issues
Products
Patentable
• New IP without
new active
ingredient
Competitive
•
•
•
•
Economics
Efficacy
Convenience
Grower safety
Approvable
• Avoid toxic
formulations
• Environmental
safety
5
Vive Patented Technology Platform
IP Generating
Innovative
Approvable
• Broadly applicable
reformulation
technology
• Lower
development cost
per product
• Improves
economics,
efficacy, safety,
convenience
• Fast timelines
• Improves
handling and
safety
• Enables water
to act as the only
solvent
6
Vive Technology
Active Ingredient (AI)
Vive Cage
Vive New Product
Not soluble in water
Encapsulates AI
in a water dispersible
(non-toxic) structure
Encapsulated AI
dispersed in water
7
Vive Technology Platform
Water and
bio-inert
polymers
create a
cage that
delivers the
active
ingredient
8
Simple, Scalable Manufacturing
• Low capital cost — uses off
the shelf equipment
• Main inputs are EPA
approved polymers
• Straightforward path to large
commercial scale
• $4 MM capex for 200T
Allosperse plant
Pilot Scale Plant (Five tonnes per year)
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Low Capex with Significant Product Leverage
Vive 200 Tonne
plant
600 Tonnes of
partner supplied
active ingredient
6,000 Tonnes of
packaged
product with
>$100 MM in
annual revenue
10
Four Levels of IP Protection
Product IP
Patent
Cliff
Application IP
Process IP
Composition of
Matter IP
• 12 issued patents (first expiry 2017)
• 52 patents pending
• 7 families in the US and
internationally
• New products via patentable
reformulations
• First reformulated product patents to
be filed in 2012
Ongoing IP Generation
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Vive Product Portfolio
Patented Actives
• Developing products with
branded companies
• $5 Billion+ addressable market
• Upfront, milestone and royalty
revenue
Generic Actives
• Developing products to be
distributed through branded
companies
• $3 Billion+ addressable market
• Product revenue
Portfolio Renewal and Extension Model
12
Improved Insecticide Efficacy
• Third party trials tested Vive’s formulated
cypermethrin versus the leading competitive
product, FMC’s Ammo
Treatment
Partnered Product
Pests
Killed
Plant Damage
Vive
90%
1.1%
Ammo
5%
32.5%
(Lower is Better)
• Both products were applied at 0.1ppm
• Tests demonstrated superior performance killing
pests and protecting plants
• Results have been confirmed in 5 different trials
Vive’s formulation was 18x more effective killing pests and
~30x more effective protecting plants from insect damage
What Does it Mean to the Farmer?
Potential product benefits include:
•
Better plant protection – higher yields
•
Buy and use less pesticide – save money
13
Improved Residual Activity
• Trials test how long a product keeps working after
it is applied
• Third party trials tested Vive’s formulated
lambda-cyhalothrin versus the leading premium
product, Syngenta’s Karate Zeon, at identical
concentrations
Treatment
Pests Killed
7 Days Later
Pests Killed
14 Days Later
Vive
90%
76%
Karate Zeon
50%
42%
Partnered Product
• Karate Zeon is marketed against “standard”
products based on its superior residual activity
Vive’s formulation was 80% more effective killing pests both
one and two weeks after application
• Results show that Vive’s formulation is better
after 7 and 14 days
What Does it Mean to the Farmer?
Potential product benefits include:
•
Sustained protection – higher yields, better crops
•
Apply less often – save money and hassle
14
Potential Markets
Crop Protection
TAM => $50 Bn
Beauty and
Industrial
Pharmaceuticals
Nutritionals
Personal Care
TAM => $100 Bn TAM => $300 Bn TAM => $500 Bn
TAM => $425 Bn
Potential Markets > $1 Trillion
15
Corporate
Information
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Management
Keith Thomas
CEO
Darren Anderson
CTO
Flavio Campagnaro
VP Manufacturing
Skip Campbell
VP Product Creation
Ken Yoon
CFO and VP Corp
Development
Entrepreneur, project management and corporate finance;
Booz Allen, Citigroup, BASc (Toronto), MA (Toronto), MBA (Columbia)
Founding president, 4 issued patents, 24 pending applications, 10 refereed
papers, over 40 conference presentations and publications, PhD (Toronto)
Senior process engineer, scaled large environmental plants; Bennett
Environmental, BASc (UBC), PEng
Boston-based M&A and advisory for high-tech industries, consulting and VC
experience, BA (Williams), MBA (Toronto)
Life sciences venture capitalist, consulting and accounting; VenGrowth, Ernst
& Young, BSc (Western), LLB (Queen’s), MBA (Toronto), CA
Supplemented by 10 advisors with experience at Syngenta, BASF, DuPont, Dow, FMC ,etc.
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Directors
Neil Reid
Chair
Charlie Fischer
Director
Warren Libby
Director
Bill Lambert
Director
Mark MacDonald
Director
Co-founder, MDS Sciex
Former CEO, Dow AgroSciences; Former Chair, CropLife America and CropLife
International
Former President, Syngenta Canada; Former Chairman, Crop Protection
Institute of Canada
Chairman, Ag Growth International; Former Partner, TD Capital
Former VP, Teachers Private Equity; significant board experience
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The Vive Opportunity
 $46 Billion global market opportunity with assured demand with
significant potential in additional markets
 Patent cliff, formulation issues and generics are unavoidable
 Disruptive, patented, green technology addresses industry needs
 Products with $8 Billion addressable market in dev and trials
 Strong management team and directors
 Commercial deals in 2013 and product launches in 2014
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