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Cryocrate presentation for zoom 3.26.19
1. Xu Han, Founder & CTO
Tim Wheeler, CEO
Life in Nano Ice
Novel Cryopreservation Platform
for Clinical and Research Applications
2. About CryoCrate
Platform Technology Across Multiple Markets
Vision: Worldwide leader in cryopreservation technology
Long-term cell and tissue preservation
Current Products:
• Liquid media – Commercial, now selling through Fisher Scientific
• Tissues for research– Cornea feasibility complete, ready to sell
• Tissues for transplantation – Need 510(k) clearance for cornea device
Products under development
• Ultrafast freezing technology – R&D phase nearly complete
• Organs – R&D phase, focusing on hearts
3. Market Pain Points
Technology Challenges
• Some cells cannot be stored
Liquid Nitrogen Storage
• Safety & cost
Use of Animal Sera
• Rising costs
• Lot-to-lot validation required
Tissue Processing Costs
• 24/7/365 operational cycle
Tissue Viability
• 7-10 days typical, 14-day max
• Missed revenue opportunities
Tissue Availability
• Global demand >>> supply 30:1
• 97% of patients globally will
NOT get cornea transplants
NEEDS
Better formulae
Serum-free
-80o
C storage
NEEDS
Cost reductions
Longer-term tissue life
More tissue availability
CELL PRESERVATION CORNEA MANAGEMENT
4. Addressing Market Needs
C80EZ® & IcyEYE™
-80o
C storage
$30M to $60M savings/year
Extend tissue life >6 months
More cornea transplants
Better-quality tissues for
research and training
PCT filing pending
IcyEYE™
CORNEA MANAGEMENTCELL PRESERVATION
C80EZ®
-80
o
C storage
Serum not required
Enabling for many 1o
cells
Full viability post-thaw
Time & material savings
IP: Nationalized PCT
“Having the ability to preserve corneas beyond the current two-week shelf life would
revolutionize the global cornea transplant market.” --Ophthalmologist
5. Novel Platform Technology and Product Line
“Nano Ice”
in C80EZ®
media
Creates unique cubic ice
Reduces ice crystal size
Minimizes cell damage
Enables long-term storage
in -80o
C freezers
Current C80EZ®
Cell Applications
Cardiovascular
Cancer
Kidney
Insect
New
Products
IcyEYETM
cornea kit
(media + device)
C80EZ® Neuron for primary
neurons
6. Competitive Overview and Positioning
IcyEYE™ is the only technology
that can enable long-term cornea
storage
Ideal Customer Profile
• Cornea researcher
• Eye Bank processing tissue for
transplantation
• Eye Bank exporting surplus
tissues
Highly Competitive
Many suppliers + homebrew
Distribution channels are key
Ideal Customer Profile:
• Using primary cells
• Prefer -80o
C vs liquid nitrogen
• Moving away from animal serum
“The ability to freeze corneas shortly after collection would greatly improve the
quality of corneas that we export as well as increase the number of corneas
available for export.” - Eye Bank CEO
C80EZ®
IcyEYE™
CELL PRESERVATION CORNEA MANAGEMENT
7. Go-To Market Highlights
$200K$55K $17M$3M $9M
Exit
•$1M Funding
• Sales Team
• Production Staff
• Consultants
• IcyEYE™ PCT
•Icy EYE™ FDA Clearance
•Personnel
$26M
• GMP Manufacturing
• FDA Meeting
• Beta Eye Banks
• IcyEYE™ Nationalization
Sales Revenues
2019 2020 2021 20232022 2024
Scale Production
Potential Acquirers
>$600M global market, 10-20% CAGR
Distribution sales thru Fisher Scientific
Thousands of researchers
Expand sales team (2019)
GMP production (2020)
$2M sales in 2024
>$60M global market, 5-10% CAGR
Direct sales
70+ eye banks in the US
Media for research cornea (2019)
FDA clearance early 2021
$24M sales in 2024
CELL PRESERVATION CORNEA MANAGEMENT
8. Management Team
Business and R&D
Tim Wheeler, M.S., D.B.A. (CEO)
• 30+ years, business executive, marketing, sales, ecommerce
• Worked for GE, Fisher Scientific, Millipore Sigma, BioMerieux
Xu Han, Ph.D. (President & CTO)
• Founded CryoCrate in 2012
• NIH and NIFA SBIRs, Coulter Awardee,
• MU Faculty Innovation Award and MU IP Fast-track Awards
• >$2M funding – Grants & 2017 seed investment
Advisory Board
P. Koulen, Ph.D. (Director, Vision Research Center)
F. Fraunfelder, M.D., M.B.A. (Chair, MU Ophthalmology)
R. Roberts, Ph.D. (Member, National Academy of Sciences)
H. White, Ph.D. & D. Keller (Centennial Investors Angel Network)
B. Turpin & Q. Messbarger (Directors, Missouri Innovation Center, Inc.)
9. Near-Term Recruitment and Collaboration
Chief Operating Officer:
• Regulatory professionals (FDA medical device)
• cGMP manufacturing and production
• Business operation and acquisition
Sales
• Experience in cell culture or tissue engineering
• Working with Fisher representatives in mid USA
Partners:
• GMP production of chemically defined media
• GMP production of devices (injection molding)
10. CryoCrate Projections 2019 to 2024
Distribution Sales
• Liquid media only
• $200/bottle
• Distribution – Fisher Scientific
• Academia & biopharma
IcyEYE™ Sales
• $200/cornea: Device + media
• Direct channel
• US eye banks main target
• China, India, & EU secondary
targets
Cornea Research
•Liquid media only
•$75/cornea
•Direct channel
•Eye banks & academia
-$5,000,000
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
2019 2020 2021 2022 2023 2024
IcyEye™ C80EZ® Cornea
C80EZ® Cell Media EBITDA
11. Xu Han, Founder & CTO | xu.han@cryocrate.com | 573-268-9501
Tim Wheeler, CEO | timothy.wheeler@cryocrate.com | 636-875-8297
Thank You!