Content s n e t r e M s a e r d n A / K W M B © : o t o h P Greetings – The bioeconomy ecosystem is growing Dr Dr h.c. Christian Patermann Pages 6–8 “Hands-on” guidance to meet the chal- lenges of becoming a patent proprietor Dr Christiane Maxien, Wallinger Ricker Schlotter Tostmann Patent- und Rechtsanwälte Pages 30–32 What creates impact can’t generate returns? – How to reconstruct European venture capital for a rege- nerative world Danijel Viševi, World Fund Pages 40–41 4 ls 04-2022 “Circular Bioeconomy“ 3 Editorial The world cannot wait! Introduction 6 Greetings The bioeconomy ecosystem is growing Dr Dr h.c. Christian Patermann 10 Bring the German bioeco- nomy back into play! Representatives from science and business discussed ways to scale it 30 To patent, or not to patent, that is the question “Hands-on” guidance to meet the challenges of becoming a patent proprietor Dr Christiane Maxien, Wallinger Ricker Schlotter Tostmann Patent- und Rechtsanwälte SPECIAL ADVERTISING SECTION 33 Who is Who in Life Sciences Nine industry players introduce themselves Financing Markets & Technologies 38 “We are open to meet 16 Good ideas rub off The BioökonomieREVIER shapes regional bioeconomy in the Rhineland 20 From a coal-mining to a bioeconomy region Central Germany sets off into a new industrial age Kai Bieler, European Metro politan Region of Central Germany (EMMD) start-ups ready to embark on their growth journey“ Interview with Clara Martinez Velandia, Relationship & Communications Manager, ECBF 40 What creates impact can‘t generate returns? How to reconstruct European venture capital for a regenera- tive world Danijel Viševi, World Fund 22 The BIOMAC project: 42 “Pave the way for a better A European open inno vation test bed Scaling up bio-based nano- material technologies and solutions Annika Frank, IBB Netzwerk 24 Green hydrogen as a key enabler for the bioeconomy Eastern Germany is ready for a competitive hydrogen economy Daniela Pufky-Heinrich, Fraunhofer IMW 28 How to communicate sustainability The Global Reporting Initiative sets standards Brenda Benthien, EnglishBusiness impact on our environment“ Interview with Lisette Fortanier- Weege, Sustainability Manager, and Camille Vicier, Lead Sustainability Manager, Global Entrepreneurship Centre (GEC) 44 How to overcome the growth financing gap What are the options for bioeco- nomy start-ups? Nikolaus Raupp, HTGF 46 Our social license to operate – and today’s dilemmas A column by Sascha Berger, Partner, TVM Capital Life Science

Introduction Greetings The bioeconomy ecosystem is growing The answer is given by the reality itself surrounding us: yes, there is. 6 ls 04-2022 “Circular Bioeconomy“ s n e t r e M s a e r d n A / K W M B © : o t o h P But what might these facts and events mean for the future development of bio-based economies in Europe and also Germany?

Introduction : o t o h P Whether we like these priorities or not, we will have to cope with these approaches. 8 ls 04-2022 “Circular Bioeconomy“ We should be constantly prepared to review and, if necessary, adjust strategic priorities and activities at shorter inter- vals than now.

Introduction Bring the German bioeconomy back into play! Representatives from science and business discussed ways to scale it By Urs Moesenfechtel T Take bioeconomy developments in other countries as a model 10 ls 04-2022 “Circular Bioeconomy“ s n e t r e M s a e r d n A / K W M B © : o t o h P Make innovative products more comparable

Introduction Improving the plannability of investments in bioeconomy technologies 12 ls 04-2022 “Circular Bioeconomy“ Address the lack of facilities s n e t r e M s a e r d n A / K W M B © : o t o h P s n e t r e M s a e r d n A / K W M B © : o t o h P

Introduction s n e t r e M s a e r d n A / K W M B © : o t o h P Strengthen regional approaches Work on reservations about genetic engineering 14 ls 04-2022 “Circular Bioeconomy“ Introduce price comparability and storytelling Empower women to start businesses

Markets & Technologies Good ideas rub off The BioökonomieREVIER shapes regional bioeconomy in the Rhineland By Urs Moesenfechtel T : o t o h P It all starts with the will to change No less than flowering landscapes in mind 16 ls 04-2022 “Circular Bioeconomy“ Once started, one thing leads to another

Markets & Technologies : o t o h P Further impulses are to drive the transformation forward 18 ls 04-2022 “Circular Bioeconomy“ : o t o h P Dr Christian Klar, Viable ideas rub off on others, literally A regionalised bioeconomy does not grow by itself Transformation projects require initiation and support Examples of sustainable manage- ment are important

Markets & Technologies From a coal-mining to a bioeconomy region Central Germany sets off into a new industrial age By Kai Bieler : o t o h P A “Ideal conditions“: UPM invests 750 million in the Leuna site 20 ls 04-2022 “Circular Bioeconomy“ ABOUT THE AUTHOR Kai Bieler is Press Officer at the European Metropolitan Region of Central Germany (EMMD).

Markets & Technologies The BIOMAC project: A European open innovation test bed Scaling up bio-based nanomaterial technologies and solutions By Dr Annika Frank Fig. 1: The BIOMAC ecosystem’s central hub structure T ABOUT THE AUTHOR Dr Annika Frank IBB Netzwerk GmbH, where ls 22 04-2022 “Circular Bioeconomy“

Markets & Technologies Green hydrogen as a key enabler for the bioeconomy Eastern Germany is ready for a competitive hydrogen economy By Daniela Pufky-Heinrich ABOUT THE AUTHOR Dr Daniela Pufky-Heinrich of Materials at Fraunhofer Center for International Management and Knowledge Economy IMW. G Eastern Germany has a high potential for the establishment of a successful hydrogen economy 24 ls 04-2022 “Circular Bioeconomy“

Markets & Technologies Opportunities for the bioeconomy and recommendations for rapid implementation : o t o h P Development of hydrogen demand promotes the ramp-up of the hydrogen economy in the Central German region 26 ls 04-2022 “Circular Bioeconomy“

Markets & Technologies How to communicate sustainability? The Global Reporting Initiative sets standards By Brenda Benthien : o t o h P W Talking about sustainability is often not sustainable A global common language to communicate impacts 28 ls 04-2022 “Circular Bioeconomy“ ABOUT THE AUTHOR Brenda Benthien translator at EnglishBusiness, she writes

Markets & Technologies To patent, or not to patent, that is the question “Hands-on” guidance to meet the challenges of becoming a patent proprietor By Dr Christiane Maxien Speech is silver, but silence is golden For success: product or process is Partner at ABOUT THE AUTHOR Dr Christiane Maxien Wallinger Ricker Schlotter Tostmann Patent- und Rechtsanwälte PartmbB. - - : o t o h P T patenting? - 30 ls 04-2022 “Circular Bioeconomy“

Markets & Technologies Are you ready to go? Two applications are better than one ... ? National, regional, or worldwide – what else? 32 ls 04-2022 “Circular Bioeconomy“ Prosecution – half way there to become a patent proprietor? It’s all about money

BIO Deutschland e.V. Field of activity - work conditions for our innovative members. important key technology to meet the great challenges of our time. 3. Networking. We provide events and other opportunities for Unique Selling Propositions - sents the interests of innovative biotechnology companies. As an care of the needs of founders as well as those of more mature biotech companies. Memberships in networks/associations Biotechnology is our DNA for the Biotechnology Industry. We support the development of an innovative econo- mic sector based on modern biosciences. as small and medium-sized enterprises and additionally large companies support entire spectrum ranging from medical to is managed by a board of directors made - our members through their expertise in numerous working groups. Key aspects of our work: c-LEcta GmbH Field of activity ® to deve- lop customized enzymes and microbial production strains that meet the requirements of a wide variety of manufacturing processes in industry. Main shareholder Kerry Group Partner Technology cient and targeted engineering of enzymes. Products processing aids for the production of biopharmaceuticals and vaccines or as biocatalysts for the production of active chemical ingredients. For the food industry we provide enzymes for pro- duction of food ingredients and additives or as process aids in the production of foods and beverages. Memberships in networks/associations - distribution of enzyme products. The company uses world-class enzyme engineering and pro- duction technologies to provide its partners in the food and pharmaceutical industries with su- perior biotechnological solutions for innovative industrial applications. Product development is based on the proprietary enzyme technology ® and is carried out both in- house and in close cooperation with industry - countries. Group. Kerry is the world’s leading taste and pharmaceutical markets. The company employs uses its broad range of ingredient solutions to innovate with its customers and create great the planet. ls 34 04-2022 “Circular Bioeconomy“ Address Schützenstraße 6a Telephone/Telefax Email info@biodeutschland.org Social media Website www.biodeutschland.org Founded on: number of employees Address Perlickstraße 5 Telephone Email contact@c-lecta.com Social media Web address www.c-lecta.com Date of incorporation/ number of employees Thomas Pfaadt

Global Entrepreneurship Centre Industry focus - Global Entrepreneurship Centre (GEC) is a transformation hub for scaling sustain- able technology innovation and entre- preneurship. It addresses the scaling challenges of promising SusTechs from all over the world. The selection process includes a proprietary sustainability - ups per year in the sectors building & agriculture & nutrition with access to capacity. The GEC is funded by the Rhine- land region’s STARK initiative for structu- ral transition and the Rhine County of Neuss. NRW.BANK is the promotional bank of North Rhine-Westphalia (NRW). It has largely aligned its equity products with companies’ lifecycles. The NRW.SeedCon - vative companies in their early stages. The NRW.SeedCap programme doubles initial funding invested in start-ups by business angels at the same terms and conditions. NRW.BANK also supports the funding of start-ups with investments in regionally anchored seed funds. The NRW.Venture fund promotes young high-tech companies. In the context of the “win NRW.BANK - tors support young companies with capital and knowledge. The NRW.BANK.Venture Center is a specialist advisory service for researchers and scientists that have start- up potential. What services Global Entrepreneurship Centre offers? - Sustainability programme and impact assessment GEC Fund & access to impact investors Senior expert support system Number of tenants Current number of employees in the companies Memberships in networks/associations Brightlands Chemelot ECP European Chemistry Partnering NRW.BANK Capital under management Conditions for investment and available funding The NRW.SeedCon convertible loan supports young companies no programme doubles initial funding invested in start-ups by business The NRW.Venture fund promotes young high-tech companies with EUR 5 million. Sector focus The life-science portfolio ranges from classic active pharmaceutical in- gredient development to medical equipment manufacturers to digital health projects. Portfolio and exits Memberships in networks/associations NRW.BANK is a member of various networks and organisations and ls 36 04-2022 “Circular Bioeconomy“ Address Areal Böhler Telephone Email hello@gec-scaleup.com Social media Web address www.gec-scaleup.com Date of foundation Address Telephone/-fax Email beteiligungen@nrwbank.de Social media www.twitter.com/nrwbank www.instagram.com/nrw.bank Web address www.nrwbank.de Date of incorporation/number of employees Christoph Büth Head of Equity Finance

Financing “We are open to meet startups ready to embark on their growth journey” : o t o h P Plattform Life Sciences: Mrs Martinez, how does “a common journey” with the ECBF usually begin? Martinez: PLS: How does the ECBF then select the start-ups that are of interest to it? 38 ls 04-2022 “Circular Bioeconomy“ What do you mean by the term “scale-up companies”? If all these basic criteria are met, how is a concrete decision made as to whether an investment is made? ABOUT THE INTERVIEWEE Clara Martinez ECBF.

Financing What creates impact can’t generate returns? How to reconstruct European venture capital for a regenerative world - By Danijel Viševi Fig. 1: Returns of cleantech companies by year of initial investment vs broader universe, 2005-2017 28% 26% 33% 22% 24% 19% 19% 21% 21% 24% 22% 20% 21% 23% 23% 10% 12% 8% 8% 4% 2% 4% 3% 4% -4% -9% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Clean Tech PE/VC Universe A 40 ls 04-2022 “Circular Bioeconomy“ We need to get innovations out of the lab into the real world ABOUT THE AUTHOR Danijel Viševi World Fund -

Financing “Pave the way for a better impact on our environment“ Fig. 1: GEC Sustainability Programme Plattform Life Sciences: The ambitious mot- to of the GEC is “Scaling for Impact”. What does it mean? Vicier: How do you determine whether your idea of impact is present in a start-up? Fortanier-Weege: Vicier: 42 ls 04-2022 “Circular Bioeconomy“ How can this high standard be achieved in direct implementation? What are the concrete challenges associated with this impact check and impact scaling? Fortanier-Weege: ABOUT THE INTERVIEWEES Lisette Fortanier-Weege GEC. Camille Vicier GEC.

Financing How to overcome the growth financing gap What are the options for bioeconomy start-ups? By Nikolaus Raupp : o t o h P T Alternative options 44 ls 04-2022 “Circular Bioeconomy“ ABOUT THE AUTHOR Dr Nikolaus Raupp HTGF

Financing Our social license to operate – and today’s dilemmas : o t o h P R 46 ls 04-2022 “Circular Bioeconomy“ ABOUT THE AUTHOR Dr Sascha Berger is a Partner at TVM Capital Life Science - points. Sascha is a passionate VC, a Boston finance.

Case Studies Seeking Alpha in proteins - worms as a sustainable source of protein on a large industrial scale By Urs Moesenfechtel T Mealworm farming – an important piece of the puzzle of a circular bioeconomy SHORT PROFILE OF ALPHA-PROTEIN GMBH Foundation: Sector: Number of employees: Internet: https://alpha-protein.de 48 ls 04-2022 “Circular Bioeconomy“ Ambitious goal: to become the global supplier of alpha insect proteins i n e t o r P - a h p A © l : o t o h P Mealworms Rapid expansion is in the pipeline

Case Studies Recycling plastic is fantastic! Carbios S.A. develops biological processes for the degradation and re- cycling of plastics By Urs Moesenfechtel F SHORT PROFILE OF CARBIOS S.A. Foundation: Sector: Number of employees: 98 Internet: ls 50 04-2022 “Circular Bioeconomy“ Major developments are planned Investing in the future

Case Studies A spin-off for high-tech cell culture from the Baltic Sea coast By Urs Moesenfechtel A SHORT PROFILE OF CELLTEC SYSTEMS GMBH Foundation: Company headquarter: Sector: Employees planned for 2023: Internet: 52 ls 04-2022 “Circular Bioeconomy“ Customisation and scaling are intended

Investment Sustainability assessments in M&A transactions By Oliver Köster, LL.M. and Stephan Zuber ABOUT THE AUTHORS Oliver Köster- ner at Baker Tilly Stephan Zuber at Baker Tilly national and international corporate and - cialist in commercial and corporate law, he science and health care sectors. : o t o h P T 54 ls 04-2022 “Circular Bioeconomy“

Investment The green circle embraces the financial world generates high returns for investors By Stefan Riedel B Circular economy as key investment theme Fig. 1: Selected funds Fund ISIN Agio TER Volume Sources: Own research. Performance 6 months Performance 1 year Performance 3 years 56 ls 04-2022 “Circular Bioeconomy“

Investment Biotech basket with individual upward outliers ongoing high volatility in the sector By Stefan Riedel T MorphoSys AG (ISIN: DE0006632003) 16.05.2011 - 09.11.2022 (11 Jahre, 1 Tag) Jan '12 Jan '14 Jan '16 Jan '18 Jan '20 Jan '22 ls 58 04-2022 “Circular Bioeconomy“ Heidelberg Pharma AG (ISIN: DE000A11QVV0) 18.07.2014 - 09.11.2022 (8 Jahre, 1 Tag) Jan '15 Jan '16 Jan '17 Jan '18 Jan '19 Jan '20 Jan '21 Jan '22 8.00 6,50 6.18 5.00 4.00 3.00 2.50 2.00 1.50 100.00 80.00 60.00 45.00 35.00 25.00 20,000 20.03 15.00

Investment Insolvencies and name changes bioXXmed AG (ISIN: DE000A0KFRJ1) 11.04.2011 - 09.11.2022 (12 Jahre, 1 Tag) Jan '12 Jan '14 Jan '16 Jan '18 Jan '20 Jan '22 ls 60 04-2022 “Circular Bioeconomy“ : o t o h P 300.00 250.00 200.00 159.50 150.00 100.00 80.00 65.00 55.00 BioNTech AG (ISIN: US09075V1026) 05.11.2020 - 09.11.2022 (2 Jahre, 1 Tag) Jan '21 Jul Jan '22 Jul 60.00 40.00 20.00 10.00 6.00 4.00 2.00 1.66 Summary

Imprint/Company Index Company Index Page Alpha-Protein.................................................................... 48 Plattform Life Sciences AMSilk ................................................................................ 49 Baker Tilly.....................................................................33, 54 Imprint BIO Deutschland.........................................................10, 34 Plattform Life Sciences 4-2022, BIOMAC.............................................................................. 22 Circular Bioeconomy (Vol. 2) Price: Single issue EUR 12.50, Annual subscription EUR 48.00 BioökonomieREVIER........................................................ 16 Publishing house: GoingPublic Media AG Subscription: Hofmannstr. 7a, 81379 Munich, Germany GoingPublic Media AG c-Lecta................................................................................. 34 Phone: +49 89-2000 339-0 E-Mail: info@goingpublic.de Carbios................................................................................ 50 Website: www.plattform-lifesciences.de Plattform Life Sciences subscription management Hofmannstr. 7a 81379 Munich CellTec Systems ................................................................. 52 Editorial staff: Urs Moesenfechtel (project Germany eekual bionic........................................................................8 management), Holger Garbs Picture editing: Andreas Potthoff Phone.: +49 89-2000339-0 E-Mail: abo@goingpublic.de EnglishBusiness ...........................................................28, 35 Printing: Druckerei Joh. Walch GmbH & Co Pictures: Adobe Stock, company images KG, Augsburg, Germany Cover picture: © Enrico Obergefäll – stock.adobe.com Liability and references: Articles, recom- mendations and tables are based on sources which the editorial team deems reliable. No Authors: Brenda Benthien, Dr Sascha Berger, guarantee can be assumed for their accuracy, Kai Bieler, Dr Annika Frank, Oliver Köster, Dr however. The editorial team reserves the Christiane Maxien, Dr Dr h.c. Christian Patermann, Dr Daniela Pufky-Heinrich, Stefan Riedel, Danijel Viševi, Stephan Zuber Interviewees: Dr Jürgen Eck, Prof Dr Christine Lang, Dr Albrecht Läufer, Dr Joachim Schulze, right to edit and/or to decline the printing of articles which it receives unprompted. Reprinting: © 2022 GoingPublic Media AG, Munich. All rights reserved, especially those pertaining to translation into foreign languages. The photomechanical duplication of this publication or parts thereof is not permitted without the written permission of GoingPublic Media AG. This also includes recording in elec- tronic databases, the internet, and duplication on CD-ROM. Data protection: The protection of your data is important to us. The data protection declaration of GoingPublic Media AG applies, also available on our website www.goingpublic.de/datenschutz. BIO Deutschland e.V. European Circular Bioeconomy Fund (ECBF)........35, 38 European Metropolitan Region of Central Germany (EMMD).............................................. 20 Fraunhofer IMW............................................................... 24 Global Entrepreneurship Centre (GEC)..................36, 42 High-Tech Gründerfonds................................................ 44 NRW.BANK........................................................................ 36 WF World Fund ................................................................ 40 Preview Plattform Life Sciences 1/2023 Smarte Medizin (German language) (Publishing date: 18/3/2023, Closing date: 9/3/2023) ID-No. 22127921 ls 62 04-2022 “Circular Bioeconomy“ Potsdam Science Park...................................................... 37 Prof Dr Schraudner, Clara Martinez Velandia, Camille Vicier, Lisette Fortanier-Weege, Dr TVM Capital Life Science................................................. 46 Markus Wolperdinger Wallinger Ricker Schlotter Tostmann Patent und Rechtsanwälte.......................................30, 37 Proofreading: EnglishBusiness GmbH Design: Andreas Potthoff Editorial address: See publisher, E-Mail: lifesciences@goingpublic.de Publishing house management Life Sciences: Karin Hofelich, Phone: +49 89-2000339-54 hofelich@goingpublic.de Price List no. 2 of 1 November 2017 ISSN 2511-719X ZKZ 10711 Publishing dates 2022: Nr. 1/2022 “Smarte Medizin“ (19 March), Nr. 2/2022 “Finanzieren & Investieren“ (28 May), Nr. 3/2022 “Biotechnologie 2022“ (24 Sep- tember), Nr. 4/2022 “Circular Bioeconomy“ (19 No- vember)

AUDIT & ADVISORY • TAX • LEGAL • CONSULTING Baker Tilly Even the smallest details in view. Industry Team Medical & Biotech Our has been successfully advising clients for many years on legal, tax and accounting issues. This includes topics such as IFRS conversion, contracts for license sales, employee compensation models, accounting for development costs, comfort letters, going public and listings/dual listings. With 39,000 employees in 148 countries, Baker Tilly provides a broad range of innovative and individual consulting services in the areas of Audit & Advisory, Tax, Legal and Consulting worldwide. Globally, our accountants, lawyers, tax advisors and management consultants develop solutions which are precisely tailored to the individual needs of our clients . In Germany, Baker Tilly employs 1,220 specialists in ten different locations and is one of the largest partner-managed consulting firms in the country. bakertilly.de