IEX Beleggen in Biotech Dag

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IEX Beleggen in Biotech Dag

• Leonard Kruimer
• May 20, 2006

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Disclaimer

• The presentation contains or may contain
  forward-looking
• statements within the meaning of the U.S. Private
  Securities
• Litigation Reform Act of 1995. It is important to
  note that the
• companys actual results could differ materially
  from the
• statements, based on a number of important
  factors. Crucells
• filings with the U.S. SEC contain cautionary
  statements
• identifying important factors affecting such
  forward-looking
• statements, including certain risks and
  uncertainties, that could
• cause actual results to differ materially from
  projections
• contained in any forward-looking statements made
  by the
• company.

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Key data Crucell

• Based in
• Listing
• Employees
• Technology
• Products
• Facilities
• Partners
• Holding

The Netherlands Euronext, NASDAQ and SWX
900 Proprietary PER.C6 cell culture production
technology Vaccines and antibodies for
infectious diseases Switzerland, Korea, Spain,
Netherlands 45 Licensees global distributor
network 10 Galapagos Genomics N.V.
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Crucell Core Technologies
EXPRESSION
REPLICATION
PER.C6

• Antibodies
• Proteins
• CHO, NS/0
• Market 35 bill

• Vaccines
• VERO, MDCK
• Market 9 bill

STARTM
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Crucell Strategy
Growing optimizing vaccines
Vaccines
Proteins Antibodies
Leveraging technology
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Growth Vaccine market 13/yearSales World
Vaccine Market (US b)
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Crucell Major Independent PlayerMarket shares
(2004 sales)
Big Pharma
Independent vaccine companies
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RD Leiden, the Netherlands
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Facilities Bern, Switzerland
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Facilities GCVC, Korea
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Marketed products
Influenza
Typhoid
Hepatitis A
Hepatitis B
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Late-stage pipeline
Projects
Preclinical
I
II
III
Filing
Expected Launch
Yellow fever Aerugen DTPw-HepB Quinvaxem
Done 2006 Done Done
H1 2007 2007 2006 KFDA approved
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Growing and optimizing vaccines

• Increase sales existing products
• Increase margins existing products
• Gain approval for new products
• Optimize capacity utilization

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Early-Stage Pipeline
Potential Peak Sales (USm)
Projects
Preclinical
I
II
III
Partner
Influenza
06
1,500
sanofi aventis
West Nile
400
in house
Ebola
06
100
NIH
06
Malaria
200
GSK/WRAIR
Rabies
06
100
in house
TB
06
100
Aeras
in house
Factor V
1000
06
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PER.C6 - Roll out across markets

• MAbs Proteins
• From 2002
• Roche
• J J / Centocor
• Eli Lilly/ AME
• Biogen Idec
• DSM
• Ferring
• Merck Co.
• Mitsubishi
• Morphosys
• Chiron
• JCR
• GSK

• Gene Therapy
• From 1997
• GSK
• Merck Co.
• Wyeth
• Transgene
• GenVec
• Edwards
• Cell Genesys
• Molecular Med
• ML Laboratories

• Vaccines
• From 2001
• sanofi Pasteur
• Merck Co.
• GSK
• Chiron/Novartis
• NIH
• WRAIR
• IAVI
• AERAS
• Vaxin
• Kimron
• Merial

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Crucell Strategy
growing optimizing vaccines
Vaccines
Proteins Antibodies
Leveraging technology
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MAb and Protein marketsLarge and growing at 15
per yearUS billion
160
MAbs
140
Glycoproteins (mammalian)
120
100
80
60
40
Source Puilaetco
20
0
2003
2006
2009
2012
2015
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Proteins Licensing Business
Position PER.C6 as next generation platform
Yield
CHO, NS/0 Production platforms for most
proteins today Most optimization already achieved
Time
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2006 Focus on product development, registration
and integration

• Approval by KFDA of Quinvaxem (DTP-HepB-Hib)
• Start of Phase I clinical trials
  endemic/pandemic influenza, Ebola, malaria, TB
  and rabies antibody
• Continuing licensing business (PER.C6, STARTM)
• First protein licensing agreement to be expected
• Significant cash position to fund development
  programs

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Share ownership58.8 million shares outstanding
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Major shareholders
Institutional investors Europe Van Herk GO Capital Holland Beleggingsgroep Delta Lloyd/Aviva
Institutional investors US Fidelity David M. Knott Mc Cullough Oracle
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Share price performance since IPOOctober 27, 2000
October 27, 2000
May 19, 2006
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Trading data CRXL

• 58.8 mill shares 13 mill ADS
• Market cap 1.25 b
• 52 week 14.55 - 25.40
• Avg. daily volume (shares)
• NASDAQ 170.000
• Euronext 450.000
• SWX as from February 22, 2006

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• For more information
• www.crucell.com