BRAIN Group Pioneering Bioproducts - Corporate Presentation - brain ag
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BRAIN Group
Pioneering Bioproducts
Corporate Presentation
Zwingenberg, July 9, 2020
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 1
Disclaimer
This document may contain forward-looking statements. These forward-looking statements are subject to risks and
uncertainties, as they relate to future events and are based on current assumptions of the Company, which may
not occur at all in the future or may not occur as assumed. They do not represent a guarantee for future results or
performance of the Company, and the development of economic and legal conditions may materially differ from the
information expressed or implied in the forward-looking statements.
The Company assumes no obligation to update or revise any forward-looking statement contained herein or to
adapt them to future events or developments. The information contained in this document has not been
independently verified. No representation or warranty expressed or implied is made as to, and no reliance should
be placed on, the fairness, accuracy, completeness or correctness of the information or opinion contained herein.
The Company or any of its shareholders, affiliates, advisors, employees or representatives shall have no liability
whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or
otherwise arising in connection with this document.
By accepting this presentation you acknowledge that you will be solely responsible for your own assessment of the
market and the market position of the Company and that you will conduct your own analysis and be solely
responsibility for forming your own view of the potential future performance of the Company’s business.
This presentation speaks as of July 9, 2020. Neither the delivery of this presentation nor any further discussions of
the Company with any of the recipients shall, under any circumstances, create any implication that there has been
no change in the affairs of the Company since such date. The term “BRAIN”, as used in this presentation means
B.R.A.I.N. Biotechnology Research and Information Network AG and its affiliates, if not otherwise specified.
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 2
BRAIN Group at a Glance
Key facts
• Founded 1993
• 2019 revenues: 38.6 m€
>26
Years of experience
• 300 staff employed
300
• Since 2016 listed at Frankfurt Stock Exchange
• Five operating companies
Employees
Leader in Bioeconomy
• Proven partnership track-record (>100 partnerships)
• Comprehensive proprietary BioArchive of natural solutions >100
Specialty B2B products
(Result of >450 man years)
• Strong network with international partners and academia
• Substantial funding secured over the last 5 years: 8 m€ >100
Industrial partnerships
Growth opportunities
• New venture creation
• Pipeline of own products
• Internationalization of business
12
New product development programs
• M&A
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 3
Our Space is “White Biotech”
BIOTECHNOLOGY
White biotech Green biotech Red biotech Blue biotech
(industrial) (agricultural) (medical) (marine)
Clear strategic positioning in Biotechnology
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 4
Three Product Platforms
Microorganisms
Bioactive
Enzymes
Natural
Compounds
Capitalizing on synergies in technology and application
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 5
Three Different Business Models
Earnings models include:
• spin out (SolasCure)
• JV
• run ourselves
New Product • out-license
Development
100 products
> 70% of BRAIN
revenue Product Earnings models include:
Sales • (IP) license income
Tailor-made • milestone payments
Solutions • tech access fee
• strain/molecule sale
Each revenue source feeds off the others.
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 6
Our Solutions Address Key Sustainability Goals
Mission: Creating breakthrough B2B Bioproducts for Nutrition,
Health and the Environment
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 7
Products and Solutions with Impact on Sustainability
BRAIN is providing support when it comes to:
Ensure Access to Water and • Replacing chemicals by biological metal extraction
Sanitation / Improve Water Quality from e-scrap, incinerator bottom ash and other
mineralic resources
• Reducing CO2 emissions and energy consumption
Sustainable Industry, Innovation,
Infrastructure • Using CO2 as raw material: capture and utilization,
e.g. for production of energy or chemical building
blocks
Sustainable Consumption and • Utilizing organic waste streams: e.g. for production
Production Patterns of energy or value compounds
• Managing pollution: e.g. soil and water detoxification
• Recycling phosphate
Combat Climate Change and its
Impacts • Improving production time efficiency
• Transforming waste-streams into products for
unprecedented value chains
Products and Solutions help Customers to reach SDG Goals
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 8
Products and Solutions with Impact on Sustainability
• Reduce calorie density in foods while keeping
taste – with our next generation natural sweeteners
• Make food healthier by reducing salt while
End Hunger, Achieve Food retaining savor
Security and Improved • Replace chemical ingredients by biological ones
Nutrition – e.g. in food, cosmetics (e.g. biologically effective,
aluminium-free antitranspirants, identified by our
innovative cell-based test system)
Ensure healthy Lives • Maintain gut health by providing functional
and promote Well-being probiotics, avoiding antibiotics
• Reduce human suffering by treatment of open
wounds (e.g. diabetic foot syndrome) with our
enzymatic agent Aurase®
Responsible Consumption • Reducing the perishability of foodstuffs thanks
and Production to the use of natural bioactive antimicrobials
Products and Solutions help Customers to reach SDG Goals
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 9
Our Vision
We create breakthrough solutions supported by a profitably growing
products and services business.
Breakthrough solutions: Profitably grow business:
New-to-the-world solutions that surprise our We realize that existing products business is key
customers and consumers for their inventiveness and to success. We will build the existing businesses
efficacy. We do not seek to copy existing solutions. organically and through acquisition. Goals are to
be customer intimate, generate cash-flow, and
deepen our know-how. This may mean copying
existing solutions.
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 10NPD Focuses on Big Targets (Sample Global Markets)
Sugar (Substitutes)1 Wound Care 4 & Advanced Wound Care 6 Microbial Control Biocide Market 5
CAGR 4.6 %
AWC
AWC
CAGR 6.5 %
AWC
CAGR 4.10 %
19.8 bn US $ 24.8 bn US $
2019 2024 E
8,457 mn US $ 13,944 mn US $ 8.6 bn US € 10.5 bn US €
2018 2026 E 2019 2024 E
Salt Substitutes 2 Mining Chemicals Market 3
62 bn US $
Sugar (82% of total
sweetener market)
High fructose corn syrup CAGR 7.8 % CAGR 4.60 %
Others (e.g. sugar alcohols)
Natural High Intensity 0.84 bn US $ 1.54 bn US $ 6 bn US $ ~7.5 bn US $
Sweeteners (HIS) 2019 2025 E 2017 2022 E
1 Finanzen.net 01/2018; LMC-Report 2015 & nutraceuticalsworld.com 2017, 2 industrystatsreport.com, 2020 3 WhaTech, 2018 4 PR newswire (Research and Markets) 2019 5 PR newswire, 2019 6 allied market research 2019
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 11We Win Thanks to Four Core Capabilities
1 World-class collection of compounds “BioArchive”
“Discovery”
2 Highly distinguishing “Filters” to identify the best candidates
3 Partnership track-record and skill
“Monetizing”
4 Integrated Tool-set from Discovery to Commercialization
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 12We Invest 5 – 7 m€ p.a. to Create New Solutions
EBITDA
5 M€
Products
&
Contract
Research
0 M€
R&D
New
Solutions
NEW
-5 M€
Total BRAIN operating cash-flow in 2019/20 was -3.4 m€
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 13Track-Record of Industry Partnerships
More than 100 exclusive partner collaborations successfully completed
Enzymes Microorganisms Bioactive Natural
Compounds
Industrial
Partner*
*confidential partnerships not disclosed
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 14Selected Examples of “BRAIN Inside”
Enzymes Microorganisms Bioactive natural
compounds
Product range
Beiersdorf
BRAIN inside Low temperature Flavorpro™ 786P Optimisation Skin anti-irritant
detergent enzymes flavor creation of microbial strain for Symsitive 1609
in cheese processing isomalt production
Industrial partner
#3 detergent BRAIN #1 European #4 ingredients
business globally subsidiary sugar company supplier globally
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 15Growing Product Sales: Top 10 Enzyme Products
Brand Enzyme Class Application Affiliate Growth
YOY
FLAVOUR
FlavorproTM Protease
creation
FLAVOUR
FlavorproTM Peptidase
debittering
PROTEIN modification
PromodTM Protease
gluten
TM PROTEIN modification
Promod Protease
hydrolysates
FRUIT / VEGETABLES
DepolTM Betaglucanase
Naturals extraction
Fruit / Beverage
NATUZYM Pectinase juice yield increase
FRUIT / VEGETABLES
Pectinase Polygalacturonase
juice yield improvement
DAIRY
LipomodTM Esterase
flavour
STARCH / BioETOH
D-zym Glucoamylase
saccharification
STARCH / BioETOH
D-zym Alpha-amylase
liquefaction
< 10% 10-20% > 20%
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 16New Product Development Pipeline
Pipeline Partner R&D Market Own Production
Starch Processing Enzymes Yes
Green Metal Mining tbd
Natural Beverages Yes
Salt Taste Enhancer 1.0 US-CPGC No
Gold from Waste Streams Yes
Specialty Enzymes Food Yes
Aurase Yes
DOLCE Natural Sweet Enhancers No
Salt Taste Enhancer 2.0 Yes
Natural Antimicrobials Jap. Bev-Co. No
DOLCE Natural Sweet Solutions No
CO2 for Value Chemicals No
BRAIN plans to be supplier of active ingredient in 7 out of 12 programs
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 17Adriaan Moelker: My 100 Day Observations
BRAIN AG Strengths BRAIN AG Challenges
Organization Structure
Strong team culture and team spirit Overly complex
Trusting work-force Unclear accountabilities and responsibilities
Broad and deep technology know how Business
Three platforms to tap into: Enzymes, Not monetizing the efforts strongly enough
Microorganism, BioActives Go-to-market view and approach needs to be re-focused
Solid partnership capability and network Small sales force
Some very strong current industry M&A strategy and pipeline underdeveloped
partnerships
Interaction with the subsidiaries needs to be institutionalized
Good acquisition of Biocatalysts and spin-out
Improve government and grant funding
SolasCure
Enzyme host strain development needs to be addressed
Cost per FTE competitive; inexpensive office
buildings HR tools and systems
Culture of cost-awareness Talent management is key and needs to be strengthened
Several impressive talents Little performance management or goal setting
Improving profitability YoY Cost structure
Good IR mentality Overheads, compared to the current revenue base
Investor and board awareness Capital Markets
Creative and flexible business models, e.g. Clarity on pipeline communication
spin-out, JV, licenses etc. Focus
Growth plans and initiatives
We will build on our strengths and communicate a growth & strategy update
latest by September
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 18BRAIN is unique
In white biotech there is no comparable business.
Creating breakthroughs is our passion and is based
on the reality of proven biotechnology and business.
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 19Key Financials
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 20BRAIN Revenues History
45
40 42%
35
12% 38,6
6%
30
In Mio. €
25
27,1
20 24,1
22,8
15 19,9
21,1
10
10,4
5 8,8
0
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 6M FY 19/20
YOY Growth
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 21Key Consolidated Financials 6M 2019/20
6M 6M 1-3M 1-3M 4-6M 4-6M
(in € million) 2019/20 2018/19 2019/20 2018/19 2019/20 2018/19
Revenues 19.9 18.5 10.3 9.4 9.6 9.1
BioScience 6.8 5.2 4.0 2.8 2.8 2.4
BioIndustrial 13.1 13.3 6.3 6.6 6.8 6.7
Total operating performance1 20.2 19.8 10.4 9.9 9.8 9.9
Adjusted EBITDA2 -0.7 -1.7 -0.2 -0,0 -0.5 -1.7
EBITDA -0.9 -1.8 -0.3 -0.1 -0.6 -1.6
EBIT -2.6 -3.2 -1.2 -0.8 -1.4 -2.4
Net result -4.6 -4.1 -2.2 -1.2 -2.3 -2.8
Operating cash flow -4.1 -2.9 -0.6 -0.1 -3.5 -2.8
31.03.2020 30.09.2019 31.12.2019
Cash 6.43 15.2 13.2
1 Revenues + change in inventories + other income + R&D grants 3 SolascureLtd. Capital increase EUR1,9mln, Put AnalytiCon Discovery EUR1,6mln
2 The reconciliation from adjusted to unadjusted EBITDA can be found in the major Capex Büttelborn&Cardiff EUR2,6mln, additional group Capex, negative WC swing
consolidated profit and loss statement as of March 31, 2020
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 22Key Consolidated Financials 6M 2019/20
● The BRAIN Group revenues increased by 7.6% to €19.9m (PY €18.5m), organically +14.1%*
o Group generated a total operating performance (TOP) of €20.2m vs. PY €19.8m (+1.9%)
o The “BioScience” segment increased its revenues by 31.9% to €6.8m (PY €5.2m), mainly due to new
and follow-up projects
o Revenues of the “BioIndustrial” segment decreased slightly to €13.1m (-1.8%), due delays in the
commissioning of new production facilities. Organically revenues increased by 6.5%*
● The reported Group EBITDA amounts to €-0.9m (PY €-1.8m)
o The “BioIndustrial” segment has been able to increase its EBITDA Margin to 11.7% (PY 10.6%)
● The adjusted Group EBITDA amounts to €-0.7m (PY €-1.7m). Adjustments have mainly been driven by
higher employee remuneration from option accounting. Adjustments:
o €155k for personnel expenses resulting from ESOP
● The gross cash-flow has been at €-3.5m vs. PY €-3.4m, almost unchanged to the previous year
● Our Cash position as of March 31st, 2020 amounted to €6.4m
*adj. for the disposal of Monteil Cosmetics
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 23Group Revenues per Segment
Revenues segments 6M 19/20 Revenues segments 6M 19/20 organic growth
25.000 € 25.000 €
19.935 19.935
20.000 € 20.000 €
18.525
13.102 17.478 13.102
13.344
12.297
15.000 € 15.000 €
in T. €
in T. €
10.000 € 10.000 €
5.000 € 6.833 5.000 € 6.833
5.180 5.180
0€ 0€
6M 18/19 6M 19/20 6M 18/19 6M 19/20
BioScience BioIndustrial BioScience BioIndustrial
• Year over year the segment BioScience performed excellent
• Revenues in the segment BioIndustrial decreased slightly due delays in the commissioning of new
production facilities. Organic growth amounted to 6.5%
• The overall BRAIN group grew organically by 14.1% YoY
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 24Overview of Material Expenses
Material expenses 6M 19/20 Material expenses ratio 6M 19/20
9.000 € 8.554 60,0%
8.048
8.000 €
50,0%
49,3% 48,5%
7.000 € 6.728
6.226 43,2%
39,9%
6.000 € 40,0%
5.000 €
In T. €
29,9%
30,0%
4.000 € 24,8%
3.000 € 20,0%
1.851 1.828
2.000 €
10,0%
1.000 €
0€ 0,0%
BRAIN Group BioScience BioIndustrial BRAIN Group BioScience BioIndustrial
18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20
• In both segment we have realized material expenses cost savings
• The material expense ratio in the BioScience segment as well as the group decreased due to the rise in
revenues
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 25Overview of Personnel Expenses
Personnel expenses 6M 19/20 Personnel expenses ratio 6M 19/20
10.000 € 100,0%
9.171 89,7%
9.000 € 8.801 90,0%
81,7%
8.000 € 80,0%
7.000 € 70,0%
6.177
6.000 € 5.625 60,0%
IN T. €
5.000 € 50,0%
44,0% 44,7%
4.000 € 40,0%
3.176
2.993
3.000 € 30,0%
23,3% 23,3%
2.000 € 20,0%
1.000 € 10,0%
0€ 0,0%
BRAIN Group BioScience BioIndustrial * adj.Perso. BRAIN Group BioScience BioIndustrial
18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20
• Personnel expenses grew slightly compared to the previous year
• The groups adj. personnel expense ratio remains stable compared to the previous year
• In BioScience the personnel expense ratio decreased by 8%-pts. compared to the previous year
• In BioIndustrial the personnel expense ratio remained stable compared to the previous year
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 26Overview of Other Expenses
Other expenses 6M 19/20 Other expenses ratio 6M 19/20
4.500 € 35,0%
4.217
4.000 € 3.840 30,3%
30,0%
3.500 €
24,4%
25,0%
3.000 € 21,3%
2.500 € 2.340 20,0% 19,0%
In T. €
17,1%
2.080 16,2%
2.000 € 1.879
1.799 15,0%
1.500 €
10,0%
1.000 €
5,0%
500 €
0€ 0,0%
BRAIN Group BioScience BioIndustrial * adj. Exp. BRAIN Group BioScience BioIndustrial
18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20 18/19 - 19/20
• In the group other expenses decreased significantly due of cost savings
• In BioScience the other expenses ratio decreased by over 5%-pts. compared to the previous year
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 27EBITDA 6M 19/20
EBITDA 6M 19/20
2.000 €
1.530
1.409
1.000 €
0€
In T. €
-1.000 €
-869
-2.000 € -1.756
-2.437
-3.000 €
-3.167
-4.000 €
BRAIN Group BioScience BioIndustrial
18/19 - 19/20 18/19 - 19/20 18/19 - 19/20
• The group’s EBITDA improved by 50.5% compared to the prior year
• Especially the segment BioScience strongly contributed to an improved EBITDA
• The BioIndustrial segment improved its EBITDA by 8.6% despite a decline in sales
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 28Shareholders & Calendar Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 29
Shareholder Structure of BRAIN
Lloyd
Fonds
DAH Beteiligungs
GmbH 4.3% Notes
6.8% • Current number of shares: 19,861,360
Founders/
Management • Free float of 45.0%
8.6%
• Strong long term investor base
• 8,000 shareholders
45.0%
• WKN 520394 / ISIN DE0005203947
• Symbol BNN
35.3% • Prime Standard; Frankfurt/M
MP Beteili- Free Float
gungs-GmbH
June 16, 2020
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 30Financial Calendar FY 2019/20 and beginning FY 2020/21
August 31, 2020 Publication of the quarterly report for the period ending
June 30, 2020 (9M)
January 14, 2021 Publication of the annual report for the period ending
September 30, 2020 (12M)
February 26, 2021 Publication of the quarterly report for the period ending
December 31, 2020 (3M)
March 10, 2021 Annual General Meeting in Zwingenberg, Germany
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 31Analysts Covering BRAIN
Analyst Company Phone number
Falko Friedrichs Deutsche Bank, Frankfurt +49 69 91 03 62 70
Pierre Corby ODDO BHF, Paris +33 1 44 51 84 04
Markus Mayer Baader Helvea, Munich +49 89 51 50 18 18
Laura López Pineda Baader Helvea, Munich +49 89 51 50 18 04
Dennis Berzhanin Pareto Securities AS, Frankfurt +49 69 58 99 7 434
Manuel Mühl DZ Bank AG, Frankfurt +49 69 7447 51438
Dr. Christian Ehmann FMR Frankfurt Main Research AG +49 69 920 389-15
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 32Thank you for
your attention.
BRAIN Aktiengesellschaft
Darmstädter Straße 34–36
64673 Zwingenberg, Germany
+49 (0) 6251-9331-0
www.brain-biotech.com
Your contact:
Michael Schneiders (Head of Investor Relations)
+49 (0) 6251-9331-86
MiS@brain-biotech.com
@BRAINbiotech
BRAIN AG
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 33Management
Adriaan Moelker Manfred Bender Lukas Linnig
(CEO) (CFO, until Sep. 2020) (CFO, from Oct. 2020)
• Master of Business Administration • Diploma in Business Administration • B.S. in Economics, CFA
• Year of birth 1964 • Year of birth: 1965 • Year of birth: 1993
• Joined BRAIN in Feb. 2020 • Joined BRAIN in 2018 • Joined BRAIN in 2015
• 7+ y leadership experience in
• 20+ y of professional experience in • 20+ y of finance leadership finance, controlling and legal
industrial biotechnology innovation experience as CFO and CEO in • Successful in implementing
• Successful in terms of innovation & listed companies finance controlling systems
revenue • Successful in market cap & • Prior to BRAIN: VC and
consulting
• Extensive global experience in all key revenue growth
• Advisor during the IPO
industrial enzyme segments • Asset management, M&A
Pioneering Bioproducts. © BRAIN Aktiengesellschaft Zwingenberg Germany www.brain-biotech.com +49 (0) 6251-9331-0 34You can also read
