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Alex Michine, CEO
www.metgen.com
The story of Mr. Forest and his grandaugther 2Gen
Mr. Forest Represents pulp&paper industry Old, traditional Problem: Looking forward to make the paper more effeciently
2Gen Represents second generation biofuel industry Young, growing fast Problem: Looking forward to learn how to make advanced biofuels more effeciently
Source Pretreatment Refining Bleaching Paper
Different types of wood
Chemical Steam Mechanical
Energy hungry mechanical process to get cellulose
With chemicals
Different kind of paper
Source Pretreatment Hydrolysis Fermentation Conversion
Different types of lignocellulosic
Chemical Steam Mechanical
Expensive process to convert cellulose to sugars
Yeast BioEthanol Biobuthanol Jet Fuel
Mr. Forest’s way of doing things
2Gen ideas
Mr. Forest and 2Gen are relatives and share a lot in common
ENZYMES Enzymes are proteins catalyzing chemical reaction.
LACCASE Laccase is an enzyme which can degrade
lignin in wood or cellulosic biomass.
Who and How can help Mr. Forest and 2Gen?
Energy saving at pulp&paper mills
Enzyme liquid solution added to hot (70°C) wood chips. Retention time 2 hours
Chips are refined and energy is measured
Drop-in solution that may not require additional CAPEX
P&P mill spends 17 Mln EUR / year for energy in refining only MetGen solution saves 1.2 Mln Eur/year/mill in energy consumption MetGen receive 1.2 Mln Eur/year in revenues from 1 mill
Low cost lignocellulosic sugars are possible
Steam Exploded Wheat
Sodium Hydroxide Pretreatment
Enzymatic Hydrolosis with
Cellulase
Sugar yield 40-50% (from total
weight of Cellulose and Hemicellulose
Steam Exploded
Wheat
Sodium Hydroxide
Pretreatment
MetGen
Laccase Treatment
Enzymatic Hydrolosis
with Cellulase
Sugar yield 80-90%
MetGen is helping Mr. Forest and 2Gen
Addresable Markets (Mln Eur)
2012 2015 2020
Forest 254 259 264
2 Gen 19 192 675
MetGen business models • Enzyme produced and delivered
to Mr. Forest’s door
• Enzyme production is licenced to TooGen’s playground
MetGen’s Competitive
Advantage Tailored
Enzymes
• Competitor’s Laccases are not active at high temp and not tolerant to variable pH • “Drop In” solution, no CAPEX for customers • We outsourcing fermentation capacity for production.
Are we really expecting that there is ONE
ENZYME suitable for EVERY biofuel and
pulp&paper process?
MetGen Competitive Advantage: genetically modify enzymes to fit
specific customer conditions
Location: Turku, Finland , since May 2008, employs 8 people Team: Experienced management team IP: First Patent filed 09.2011, 2 patents planned in 2012 Achievements: Successful industrial trials with industry leaders in forest & biofuel We have ready products, customers, revenues Invested to date: 1 Mln Eur, founders are major shareholders Funding: Seeking 4 Mln Eur, break even in 2014 Use of proceeds: commercialize enzymes on industrial scale Exit: Trade Sale in 3-5 years Potential Buyers: Global Industrial Enzyme Company
MetGen: Industrial Enzymes
Klara Birikh, PhD in genetic engineering. 1994-1997 Max Planck Society postdoctoral fellow, Max Planck Institute for Experimental Medicine 1999-2000 Postdoctoral fellow, The Hebrew University of Jerusalem 1998 – 2004 Senior Scientist, Institute of Bioorganic Chemistry, Moscow 2004-2008 Senior Scientist, Oxford Gene Technology Ltd,
Area of interest: DNA microarray technology. Minor shareholder in MetGen. v plan
Alex Michine, CEO, MBA
Alex is serial entrepreneur in Life Science Industry, Founder and CEO of MetGen (from 2008). Previously companies: Metkinen (2002-2005) Founder and CEO. Metkinen is active in development of fermentation technologies for pharmaceutical market. Metkinen Chemistry (2005-2008) Founder and CEO. Metkinen Chemistry produces reagents for RNA and DNA synthesis. Both previous companies are profitable and grew without external financing. Alex received his MBA in 2005 from Robert Kennedy College. Member of Board of Directors of HyTest (Finland), leading supplier of reagents for in-vitro diagnostic market.
Management Team
Alexey Azhayev, Ph.D. Professor, Founder and Member of Board of MetGen Department of Pharmaceutical Chemistry, University of Eastern Finland •Ph.D Chemistry in 1979, Institute of Molecular Biology, Moscow •1979-80 PostDoctoral Fellowship Max-Planck Institute for Experimental Medicine, • 1980-1990 Various research positions in Institute of Molecular Biology and Institute of Biotechnology •1990-91. ChimTech Ltd, General Manager •1991-96 Turku University, Department of Chemistry, Post-Doctoral Chemistry •1996- present, Professor of Department of Pharmaceutical Chemistry, Kuopio Publications: more than 150 scientific papers (peer reviewed journals), patents & patent applications.
METGEN LACCASE
1. De-lignifying enzyme disrupts the lignin network and
facilitates the interaction between cellulase and
polysaccharides
2. Detoxification enzyme polymerizing residual lignin and
toxic phenols inhibiting fermentation
IP Strategy
Technology platform - Kept as trade secret
Key to MetGen IP : MetGen Laccase sequence is less than 98%
identical to the closest analogue. It is substantially more active and
capable of working under alkaline and high temperature as opposed
to the natural prototype.
Laccase – First Patent Application filed September 2011
Laccase Applications – Can be patented
MetGen’s in vitro
evolution of laccase
Step 1.Combinatorial library is
constructed
Step 2. Individual mutants are tested
with DESIRED SUBSTRATE (treated
biomass)
Step 3. Best variants selected and
sequenced (structure determined).
Step 4. Cloning and expression in
suitable host (e-coli or yeast)
Summary
• Laccase is a versatile enzyme. MetGen has robust and cost-effective laccases. • Experienced team and board • Lean cost structure • Low break-even point • Leverage equity with non-dilutive funding from Tekes • Early customer validation in pulp&paper • Enzyme technology and industrial biotech are high growth markets
