AN EXPERT IN SENSORY ANALYSIS

DELIVERING FOODTECH SOLUTIONS AND PIONEERING MEDTECH SOLUTIONS,

READY TO SCALE

Copyright 2019 - Alpha MOS

Confidential and Proprietary

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Alpha MOS Proprietary

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Investment case: An expert in sensory analysis delivering FoodTech solutions and pioneering MedTech solutions, ready to scale

25 years experience in sensory analysis

Providing critical sensory analysis services based onVolatile

Organic Compound (VOC)

Bringinga new solution to complement human sensory panels currently used in analysis, a human intensive and costly process

Leadership position in the Food & beverage industry for quality testing in product development with Top100 key accounts and a strategic partnership withCoca-Cola

25 years experience and know how

Fablesssince 2018

With a strong technology edge

A unique VOC sensing and analysis technology

Ability to combine the right instrumentwith a proprietary software cumulating 25 years experienceto capture and

analyze sensory characteristics in multiple environments

Successfully validatedwith world-class F&B customers in the Product Development phase

Easy to usesolutions usable both in R&D centers and production sites

10 patent families granted

2021 objectives

FoodTech

MedTech

Revenue

And a clear strategic roadmap

to address fast growing segments and promising markets

>15M€

Launching

manufacturing

CAGR 2018-2021

with the right

MedTech partner

FoodTech

($5bn market for product testing)

Leveraging our validated platform and strong customer relations to expand beyond product development into quality control directly on production sites, enabling our clients' shift towards industry 4.0

New product design ready to scale

Signing new key alliances and continue to invest in R&D

  • Growing market position focusing onTop100 Food & Beverage key accounts

MedTech

($10bn market for glucose monitoring devices)

Miniaturizing our patented solution to build an economical and non-invasive breath analyzer platform to monitor chronic conditions, starting with diabetes.

Successful early clinical trial (>100 patients) and identification of breath VOC for diabetic test.

Ready for demos with partners and customers

  • Fueling development towards FDApre-submission and product development

>45%

in 2021

EBITDA Margin

>15%

Alpha MOS Proprietary

3

Volatile Organic Compounds (VOC) are critical indicators in sensory analysis

Most scents or odors are associated with VOC: organic chemicals that evaporate from the liquid or solid form of the compound and enter the surrounding air

In Food & Beverage, VOC can vary greatly in quantity driving a significant impact on the final product's aroma and perceived quality

In the Medical sector, VOC can also be found in the exhaled breath of humans and are a critical indicator of normal metabolic activity or pathological disorders

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25 years of experience in VOC based sensory analysis solutions

Ready to scale up

We are an expert in VOC based sensory analysis solutions across multiple markets: food, beverage, medical,…

50 employees (March 1, 2019)

>95% international sales

1,000+ instruments installed globally

Fabless company

10 Patent families granted

Traded on EuroNext Paris

France

America

Japan

China

Alpha MOS Proprietary

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A unique VOC analysis technology

25 years of Experience & Unique Combination of Skills

Alpha MOS unique technology leveraging 10 patent families

Design, specify and build the right instrument /

X

Leverage Proprietary All-in-One Software

hardware to capture VOC characteristics

to analyze VOC characteristics

Fluidic

Bio-

Sensor

Electronic

Firmware

Data pre-

Database of

Machine

chemistry

Technology

processing

compounds

learning

Delivering VOC analysis solutions across multiple markets

Alpha MOS Proprietary

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(certain chemicals that give individual products their distinctive flavors and aromas)

An automated VOC analysis solution

Instrument

Software

Services

Maintenance

E-training

~100 000 VOC

Data Analytics

> 2 000 sensory attributes

Lab services: customer specific

Artificial Intelligence

models & applications

Heracles /Astree/Iris

Proprietary All-in-One Software

Customer operations

Detecting desirable VOC

  • undesirable VOC(cross contamination, migrants from packaging, or unpleasant by-products of microbial action)

7

Alpha MOS Proprietary

Successfully validated VOC analysis technology with world-class R&D centers

Food

Beverage

Others

Vegetable

Dairy

Waters

Juices

Oils

& Milk

Petfood, Packaging, Cosmetics,

Aromas &

Seasonings

Coffee

Sodas

Pharma…

Flavors

& Sauces

Tea

& CSD

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Ready to deliver solutions on other fast-growing markets and segments

Food & Beverage |

R&D Production

$5bn

Medical |

Glucose monitoring devices

$10bn

Leveraging our existing client relationships to expand from Product Developmenttesting in the labs to quality control directly on production sites

Miniaturizing our patented solution to build an economical andnon-invasivebreath analyzer platform to monitor chronic conditions - starting with diabetes

Alpha MOS unique VOC analysis technology

Hardware expertise

X

Software and data analysis capabilities

Alpha MOS Proprietary

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F&B total addressable market size based on Alpha MOS estimates

9

Glucose monitoring device addressable market: https://aabme.asme.org/posts/innovations-to-disrupt-blood-glucose-monitoring-market)

Best positioned to enable F&B customers'

shift towards Industry 4.0

Pain points

Customer's Benefits with Alpha MOS

Market

Frequent change-overs

Versatile monitoring tool

« Just in time » production,

constraints

High throughput analysis capabilities

limited control on production parameters

Subjective monitoring

Objective monitoring

Sensory

/ variation of flavors

(>90% of correct evaluation vs 75% for panel)

Partial sampling (samples / day)

Up to 200 samples / day

Analysis

Delays in the workflow

Immediate result display

Financial

Off-taste batch / production stop financial losses

Increased production yield

Non-quality costs

Reduced costs: direct (test) + non quality

constraints

Brand image risk

Protecting brand reputation

Human

Uncomfortable and repetitive human tests

User-friendly and easy-to-use, leveraging Machine-Learning

Dimension

Increased consumer concerns on F&B quality

Product quality improvement for consumers

Improved operational efficiency / Enhanced working conditions

for employees / Secured Brand Reputation

Alpha MOS Proprietary

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Already bringing key benefits for the F&B market

Example of use cases at production sites

Fruit Juices

Fermentation level

Off taste such as earthy, sulfurous, plastic, etc… Taste modification by fermented juice after pasteurization

Various fruit juice foot print

Vegetable Oils

Detection of Hexane level

Mixed quality or mixed origin detection (ex: fraudulent)

Rancid off note - major off taste for oil Various oils foot print

Carbonated Soft Drink (CSD)

Off taste such as earthy, sulfurous, medical, etc… Plastic or metallic taste detection

Multiple CSD foot print

Cross contamination detection

Cleaning In Place (CIP)

Cross contamination

Detergent (acid or basic) detection Rinse water analysis

Reduction of number of rinse cycle

Reduction of production cost: up to 5K$ per rinse

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Leverage our technology to address the MedTech sector and solve the diabetes analysis issue

  1. dedicatedCalifornia-based subsidiary: BOYDSense

Miniaturizing our platform to offer an economical andnon-invasivebreath analyzer to monitor chronic conditions, starting with glucose.

Bringing a new solution for glucose

measurement: Non invasive, easy,

convenient,

quick,

real time information of glycemic trends.

platform:

available and tested for

AI

glucose measurements

Miniaturized solution

Alpha MOS unique VOC analysis technology

Hardware expertise

Software and data

analysis capabilities

Alpha MOS Proprietary

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$10 bn: market size of glucose monitoring devices

High barriers of high cost and poor user experience lead to low adherence for current standards of care and hinders adoptionby people that could benefit from glycemic con such obesity, prediabetes, and diabetes.

Alpha MOS Proprietary

Tackle a new gigantic market with a disruptive solution for glucose measurement

Blood

Glucose

Monitor

(BGM)

AFFORDABLE

>$26/mo3

ContinuousExperimental

Glucose

Monitor

(CGM)

$100-$300/mo1,2

Fast growing market in US > 600k users in 2018 vs 300k users in2017

NON-INVASIVE

---

1. Dexcom price sheet. https://s3-us-west-2.amazonaws.com/dexcompdf/HCP_Website/LBL016019+2018+Reimbursement+Sheet.pdf

2. Abbott and Dexcom price summary: https://www.closeconcerns.com/knowledgebase/r/55a45fe3#How_Does_FreeStyle_Libres_US_Pricing_Compare_to_Dexcom

3. $.20/strip @ recommended 4x / day (by American Diabetes Association).http://www.diabetes.org/living-with-diabetes/recently-diagnosed/where-do-i-begin/checking-blood-glucose.htmland $50 or device amortized over 2 years.

13

A disruptive solution valuable to the entire diabetes ecosystem

Great user experience to enable regular and accurate glucose measurements to drive well controlled blood glucose levels

PAYERS/EMPLOYERS

  • Improved glycemic control leads to lower average glucose concentration value (A1c)1
  • Lower A1C is associated with reduced health care spending2
  • Improved control and time in range (TIR) is associated with decreased complications1

PATIENTS

  • Improvedself-management though timely glycemic awareness
  • A1C reduction when using Self Monitoring Blood Glucose and guided support4
  • Improved time in range and medication dosing

PHYSICIANS

  • Reimbursement, Star rating and HEDIS measures are tied to A1c reduction3
  • Glucose monitoring and reporting informs:
    • Medication management
    • Risk stratification
    • Dynamic personalized treatment plans

---

BLOODGLUCOSE LEVELS

Poorly Controlled

Well Controlled

TIME/HOURS

  1. Nathan DM. for the DCCT/EDIC Research Group. The Diabetes Control and Complications Trial/Epidemiology of Diabetes Interventions and Complications Study at 30 Years: Overview. Diabetes Care Jan 2014, 37 (1)9-16.
  2. Fitch K, Pyenson BS, Iwasaki K. Medical Claim Cost Impact of Improved Diabetes Control for Medicare and Commercially Insured Patients with Type 2 Diabetes. Journal of Managed Care Pharmacy 2013 19:8,609-620
  3. Sussell, Jesse et al.Value-Based Payments and Incentives to Improve Care: A Case Study of Patients with Type 2 Diabetes in Medicare AdvantageValue in Health , Volume 20 , Issue 8 , 1216 - 1220
  4. Chow N, Shearer D, Aydin Plaa J, et al Blood glucoseself-monitoring and internet diabetes management on A1C outcomes in patients with type 2 diabetes BMJ Open Diabetes Research and Care 2016

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First significant achievement in 2018: promising results for our non invasive breath analyzer platform

Conducted first large early clinical trial

> 100 patients

Plasma Blood glucose used as reference method Validated in controlled environment at leading hospital in the United Kingdom

Identified breath VOC that correlate to blood glucose levels

Same algorithm used for all patients

BG < 180mg/dl

Alpha MOS Proprietary

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* Diabetes and healthy state was determined by medical record entry. Healthy individuals with high A1c were removed from the sample.

15

Support from strong scientific board combining Endocrinology, Diabetes and Behavioral expertise

Timothy Garvey, MD

Professor of Medicine in the Department of Nutrition Sciences at the University of Alabama, a state hit by obesity

Achievedinternational recognition for his

research in the metabolic, molecular, and genetic pathogenesis of insulin resistance, Type 2 Diabetes, and obesity

Steven Chen, MD

Endocrinologist physician with broad, diverse background including obesity,diabetes and academic clinical research, clinical practice, pharmaceutical clinical development (phase1-4),and medical affairs

US and global R&D experience with a specialfocus on China within emerging markets

VP, Medical Development at La Jolla Pharmaceutical Company

William Polonsky, PhD

A globally recognized leader in behavioralhealth focusing on obesity and diabetes

Associate Clinical Professor in Psychiatry at the University of California San Diego

An active researcherin the field of behavioral diabetes, he has served on the editorial boards of Diabetes Care, Diabetes Forecast, Clinical Diabetes, Diabetes Self- Management and Diabetes Health

"Non-invasive glucose monitoring has been an industry goal for many years due to its potential to improve health outcomes for people struggling with this disease. The BOYDSense technology and their early phase clinical studies show promise for making availablenon-invasiveglucose monitoring, which will be eagerly accepted and applied by patients.This technology will promote more diligent self-monitoring and more informed clinical management by health care professionals."

Alpha MOS Proprietary

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A FoodTech & MedTech company ready for growth

2017

2018

2019-2021

STRATEGIC & OPERATIONAL

COMPANY REFOCUS

Two major strategic pivots

Focus on Sensory analysis for Food & Beverage: End Of Life (EOL) old products, EOL environmental products

Move to Sensory Quality Assurance at F&B production lines since mid 2017.

Accelerated R&Dwith focus on FoodTech solutions and e-nose integration in MedTech applications

New management team (mid 2017)

New shareholders- Jolt Capital and Ambrosia Investments

TRANSITION:

FIRST ACHIEVEMENTS

FoodTech:Resetting solid foundations

Fabless company

New product design ready to scale

Software upgrade and evolution

Starting distribution network rationalization

Renewal of teams: product, software, quality, sales managers (Europe & Asia)

Strategic partnership with Coca-Cola Bottling Co. Consolidated (June)

Resumed booking growth in Q3

MedTech: Significant milestones

Platform validation through early clinical trial in United Kingdom (>100 patients)

Identification of breath VOC for diabetic test 2 new patent families filed

ACCELERATING DEVELOPMENT WITH

A CLEAR STRATEGIC ROADMAP

FoodTech: Rapidlygrowing market position in production quality control

Grow market position rapidly focusing on Top100 F&B key accounts.

Introduction of new generation of in-line products for F&B factories with global analysis reporting.

MedTech: Getting ready for product manufacturing in 2021

Fuel development towards FDA pre-submission Field trials with partners in USA (major market for diabetics)

Alpha MOS Proprietary

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Alpha Mos SA published this content on 02 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2019 09:33:10 UTC