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Greg Hines President & CEO Sept 2002. Forward Looking Statements To the extent any statements made in this presentation deal with information that is.

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Presentation on theme: "Greg Hines President & CEO Sept 2002. Forward Looking Statements To the extent any statements made in this presentation deal with information that is."— Presentation transcript:

1 Greg Hines President & CEO Sept 2002

2 Forward Looking Statements To the extent any statements made in this presentation deal with information that is not historical, these are necessarily forward-looking. As such, they are subject to the occurrence of many events outside of the control of Tm Bioscience and are subject to various risk factors that could cause results from Tm Bioscience to differ materially from those expressed in any forward-looking statement. The risk factors include, without limitation, the inherent risk of competition in the marketplace, outcomes in product development programs, regulatory risks related to proprietary rights and market acceptance. Important factors known to Tm Bioscience that could cause such material differences are identified and discussed from time to time in filings by Tm Bioscience.

3 A DNA-based diagnostics company

4 Tm Bioscience Dual Strategy 1.DNA testing platform State-of-the Art Platform License platform to Luminex, MetriGenix Near-term revenue with high margins 2.DNA tests for potential $16B market Four tests in development First test to be launched Q1-2003 Dual Strategy 1.DNA testing platform State-of-the Art Platform License platform to Luminex, MetriGenix Near-term revenue with high margins 2.DNA tests for potential $16B market Four tests in development First test to be launched Q1-2003

5 Why DNA-based Diagnostics?

6 DNA Diagnostics Strong Business Case Thousands of Genetic Markers Better Prediction of Disease Strong IP High Margins Positive Reimbursement Trends Genomic Bridge between Old and New medicine (David Lewis, Thomas Weisel, 2001) Strong Business Case Thousands of Genetic Markers Better Prediction of Disease Strong IP High Margins Positive Reimbursement Trends Genomic Bridge between Old and New medicine (David Lewis, Thomas Weisel, 2001)

7 Genetic Testing Reality A Rare Commodity: Very few tests performed. Not yet mainstream healthcare. Un-tapped Market Why is DNA-based Diagnostics an Un-tapped Market? A Rare Commodity: Very few tests performed. Not yet mainstream healthcare. Un-tapped Market Why is DNA-based Diagnostics an Un-tapped Market?

8 Why --- Untapped Market Technology Gap: 1.Not Accurate 2.Not Affordable 3.Not Fast Enough Technology Gap: 1.Not Accurate 2.Not Affordable 3.Not Fast Enough

9 DNA-based Diagnostics Technology Gap 1.DNA Sequencing: expensive Slow 2.Single gene tests: slow Can be expensive 3.Microarrays / Biochips: Inaccurate Technology Gap 1.DNA Sequencing: expensive Slow 2.Single gene tests: slow Can be expensive 3.Microarrays / Biochips: Inaccurate

10 Technology Solution Tm100 DNA test platform –Accuracy > 99.9% –Fast: 9600 DNA tests / hr. –Economical: pennies / DNA analysis Tm100 DNA test platform –Accuracy > 99.9% –Fast: 9600 DNA tests / hr. –Economical: pennies / DNA analysis

11 Tm100 Universal Microarray

12 Microarrays Universal Tag Operating System Computers Cancer Toxicology Coagulation Universal Tags

13 CoagulationCF Cardiovascular Arthritis Infectious Disease Diabetes P450 Cancer Universal Array Tm100 Universal Array ONE Array for ALL applications OPEN SYSTEM ONE Array for ALL applications OPEN SYSTEM Benefits: Less development time High Accuracy Lower cost Benefits: Less development time High Accuracy Lower cost

14 Tm Bioscience Business Model

15 Building Value: A Dual Strategy Tm100 Universal Array Operating System Out-Licensing Revenue Generating Near Term Sustainable DNA Diagnostic Tests High Growth Rapid Development Times Low Technology Risk

16 Operating System Strategy

17 Industry Standard O. S. 1. Luminex xMAP 100 >1000 systems placed (GSK, Lilly, Mayo, Abbott, Celera, Lab. Corp of America, Quest) 2. MetriGenix GeneLogic Extensive Database 3. Other Platforms

18 Operating System Revenue Tm100 Tm1000 Tm100 4D Tm1000 4D Royalty & Milestone 1 M 35 M Yr. 1Yr. 5 Products Analyst Consensus Estimates

19 Diagnostic Test Strategy

20 Genetic Testing Market 2001 Research 20052010 Affymetrix 1 B 2 B 3 B Research Market 20% CAGR

21 Genetic Testing Market Diagnostic Market 38% CAGR 2001 Research 2005 Diagnostics 2010 Affymetrix Orchid 5 B 8 B

22 Genetic Testing Market 2001 Research 2005 Diagnostics 2010 Theranostics Affymetrix 16+ B Theranostic Market

23 Luminex – An Ideal Partnership Tm Access to:Luminex Instruments, Beads, our Universal Array Opportunity: Resale Instruments Design and Market Tests Broad Based Fields of Use Reduced Cost of Goods Low Royalty Tm Access to:Luminex Instruments, Beads, our Universal Array Opportunity: Resale Instruments Design and Market Tests Broad Based Fields of Use Reduced Cost of Goods Low Royalty

24 Tm Competitive Advantage Low Cost of Goods Cross Licensing Leverage (Tm100) Tm1000 Time to Market Early Access to the Technology Broad based Fields of Use Expertise Know-How on the Platform Test Development Low Cost of Goods Cross Licensing Leverage (Tm100) Tm1000 Time to Market Early Access to the Technology Broad based Fields of Use Expertise Know-How on the Platform Test Development

25 Low Hanging Fruit 1.Coagulation 2.Cystic Fibrosis 3.Drug Metabolism (P450) 4.Melanoma 5.Apo E for Alzheimers 6.Hemoglobinopathies Sickle Cell Anemia Beta-thalassemias 7.Ashkenazi Jewish panel 8.Hereditary Hearing Loss 9.Congenital Adrenal Hyperplasia 1.Coagulation 2.Cystic Fibrosis 3.Drug Metabolism (P450) 4.Melanoma 5.Apo E for Alzheimers 6.Hemoglobinopathies Sickle Cell Anemia Beta-thalassemias 7.Ashkenazi Jewish panel 8.Hereditary Hearing Loss 9.Congenital Adrenal Hyperplasia

26 Diagnostic Test Portfolio

27 Product Pipeline Design – Develop – Manufacture - Launch Coagulation P450 Cystic Fibrosis 2003 Melanoma Dr. Hogg U of T 2004

28 Cystic Fibrosis 1 in 29 North Americans is an unknowing symptom-free carrier of a defective gene Current test $400 CDN., 7-10 days 600,000 tests conducted / yr Fastest (100% CAGR) Growing Genetic test. Demand for a new test platform. Ob-Gyns will need to incorporate CF screening into their practice ACOG 1 in 29 North Americans is an unknowing symptom-free carrier of a defective gene Current test $400 CDN., 7-10 days 600,000 tests conducted / yr Fastest (100% CAGR) Growing Genetic test. Demand for a new test platform. Ob-Gyns will need to incorporate CF screening into their practice ACOG

29 P450 Drug Metabolism – Toxicity profile – Dosing adjustments Impacts key pharmaceuticals (eg. Prozac, Tylenol, Erythromycin, and >80 other drugs) Significant cost driver in healthcare – Hospital admissions – Repeat physician visits Currently >100,000 tests/yr in USA Drug Metabolism – Toxicity profile – Dosing adjustments Impacts key pharmaceuticals (eg. Prozac, Tylenol, Erythromycin, and >80 other drugs) Significant cost driver in healthcare – Hospital admissions – Repeat physician visits Currently >100,000 tests/yr in USA

30 Melanoma An example of the flexibility of the Universal Array A collaboration between Dr. Hogg (U of T) and Tm Bioscience –Dr. Hogg develop the test –Tm retains commercialization rights Will detect genetic mutations which predispose patients to Melanoma, the most serious type of skin cancer The most common cancer for women aged 25 to 29 An example of the flexibility of the Universal Array A collaboration between Dr. Hogg (U of T) and Tm Bioscience –Dr. Hogg develop the test –Tm retains commercialization rights Will detect genetic mutations which predispose patients to Melanoma, the most serious type of skin cancer The most common cancer for women aged 25 to 29

31 Coagulation High Risk Patients 17% of population carry blood clotting mutations High Risk group are likely to develop blood clots 1.Major Surgery. 2.Birth Control Meds. 3.Hormone Replacement 4.Pregnancy Potential $700 million test market High Risk Patients 17% of population carry blood clotting mutations High Risk group are likely to develop blood clots 1.Major Surgery. 2.Birth Control Meds. 3.Hormone Replacement 4.Pregnancy Potential $700 million test market

32 Factor II MTHFR 677 TFPI MTHFR 1298 Factor XIII Factor V Universal Array Coagulation Product Tm test will screen for 6 DNA variations Assay Specs: Total Time: 4 hours Array Time: < 1 hour Array Cost: ~ $6.00 per test

33 Alpha Testing Tested 132 DNA Samples Assayed using Tm 6-plex assay Compared to DNA sequencing (ABI) Alpha Testing Tested 132 DNA Samples Assayed using Tm 6-plex assay Compared to DNA sequencing (ABI) Tm Assay DNA Sequencing Correct Calls 180171 Ambiguous calls 09 TOTAL 180 Coagulation Product

34 1.Research Prototype 2. Validation 3.Product Launch 1.Research Prototype 2. Validation 3.Product Launch Milestones: Completed Q1 - 2003

35 Corporate Overview

36 Management Greg Hines - President and CEO (Founding President of Leo Pharma Inc.- Chairman, Rx&D) Jim Pelot - CFO (Infospace, VP - NortelNetworks) Richard Janeczko, Ph.D - Executive VP (CEO - General Synthesis and Diagnostics) Roman Zastawny, Ph.D. - VP Product Development (Allelix Biopharmaceutical, Eli-Lilly) Jeremy Bridge-Cook, Ph.D. - VP Business Development (MDS Capital Corp.) Alan Coley - VP IR and Regulatory (Eli-Lilly, Leo Pharma) (+Product Dev & Manufacturing Management) Greg Hines - President and CEO (Founding President of Leo Pharma Inc.- Chairman, Rx&D) Jim Pelot - CFO (Infospace, VP - NortelNetworks) Richard Janeczko, Ph.D - Executive VP (CEO - General Synthesis and Diagnostics) Roman Zastawny, Ph.D. - VP Product Development (Allelix Biopharmaceutical, Eli-Lilly) Jeremy Bridge-Cook, Ph.D. - VP Business Development (MDS Capital Corp.) Alan Coley - VP IR and Regulatory (Eli-Lilly, Leo Pharma) (+Product Dev & Manufacturing Management)

37 Board of Directors Richard Lockie – Chairman (MDS Capital Corp.) Neil Reid (MDS-Sciex, MDS Proteomics) John Frederick (Galaen Holdings Ltd.) Geoffrey Beattie (The Woodbridge Company Ltd.) Paul Lucas (GlaxoSmithKline) Curtis Cusinato – Secretary (Stikeman Elliott) Gregory Hines – President & CEO Richard Lockie – Chairman (MDS Capital Corp.) Neil Reid (MDS-Sciex, MDS Proteomics) John Frederick (Galaen Holdings Ltd.) Geoffrey Beattie (The Woodbridge Company Ltd.) Paul Lucas (GlaxoSmithKline) Curtis Cusinato – Secretary (Stikeman Elliott) Gregory Hines – President & CEO

38 Financial Position Shares Outstanding 113.7 M Fully Diluted 116.4 M Recent Price $0.22 Market Cap $25 M Cash reserves$7.5 M 12 month revenue (projected)$1.5 M Quarterly burn$1.3 M Shares Outstanding 113.7 M Fully Diluted 116.4 M Recent Price $0.22 Market Cap $25 M Cash reserves$7.5 M 12 month revenue (projected)$1.5 M Quarterly burn$1.3 M TSX-VEN: TMC

39 Key Milestones Tm100 LuminexQ1-2002 Tm 1000 Out license Q2-2002 2-D platform PartnershipQ2-2002 MetriGenix LaunchQ4-2002 Coagulation test2003 Drug Metabolism test2003 Cystic Fibrosis test2003 Melanoma test2004 Tm100 LuminexQ1-2002 Tm 1000 Out license Q2-2002 2-D platform PartnershipQ2-2002 MetriGenix LaunchQ4-2002 Coagulation test2003 Drug Metabolism test2003 Cystic Fibrosis test2003 Melanoma test2004

40 Tm Bioscience Dual Strategy 1.DNA testing platform State-of-the Art Platform License platform to Luminex, MetriGenix Near-term revenue with high margins 2.DNA tests for potential $16B market Four tests in development First test to be launched Q1-2003 Dual Strategy 1.DNA testing platform State-of-the Art Platform License platform to Luminex, MetriGenix Near-term revenue with high margins 2.DNA tests for potential $16B market Four tests in development First test to be launched Q1-2003

41 . www.tmbioscience.com TSX Venture:TMC. www.tmbioscience.com TSX Venture:TMC


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