Designing for Home Networking 2...$1.5 billion market for wireline Home Networking silicon by 2011...
Transcript of Designing for Home Networking 2...$1.5 billion market for wireline Home Networking silicon by 2011...
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5 March 2009
Designing for Home Networking 2.0
TFV Investors Meeting
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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CopperGate at a Glance
Franchise company in large and growing home networking marketPublic company when market conditions will improve
Goals
CFBE and Profitable for the past 2 yearsSustainable business model
Financial Results
Headcount of ~100, with 2/3 in R&D, 1/3 in sales/support/otherTeam
>30 operators around the globe spanning Tier 1/2/3 carriers End Customers
>30 network equipment manufacturers around the globeCustomer Base
3 generations of ITU HPNA ICs since 05; 24 core patentsOver 8 million ICs shipped; Coppergate IC installed every 7.5 secondsFirst HomePlug AV IC ships in H209 to broaden TAM
Products
Telco IPTV: 13M subs wwide; growing to 103M by 2011DSL/FTTx: over 300M subs wwide; grown by 30% last year
Market Opportunity
Leading Provider of Home Networking Semiconductor DevicesBusiness
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Company History and Milestones
CopperGate started its operations
HPNA 3.0 Approved (240Mbps)
First HPNA 3.0 products announced
ITU approves G.9954–2004 (240Mbps)
2000 2003 2004 2005 2006 2007 2008
AT&T selects HPNA for
Lightspeed
HPNA 3.1 approved (320Mbps)
ITU approves G.9954-2007 (320Mbps)
Firstprofitable year
CopperGate acquires
HomePlug AV
AT&TStarts
deployment
ITU approves G.hn
foundation spec
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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160MbpsCG3110
2006 2008 20092007
128MbpsCG3010 320MbpsCG3210 256MbpsCG3310
PLC – HPAV200MbpsCG2110
2010
- Coax/TP/Powerline- 1Gbps- Backward compatibleWith HPNA and HPAV
CG4110
HPAV
G.HN
HPNA
Compatible with next generation HPNA and ITU G.HN Standards
Low cost single chip
HPNA 3/ITU G.9954
PRODUCT ROADMAPProducts & Roadmap
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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IP-STB Residential Gateway Ethernet Bridges
iNID ONT Test EquipmentMDU
2Wire, Alcatel Lucent, Motorola, Gemtek, Xavi, Sendtek, Billion, SMC, Hitron, Scientific Atlanta
Entone
Sendtek
Tii
Ineoquest2Wire, Zhone, Allied, Telesyn, Tii, Calix, Occam, Pannaway, Arcadian
EoC End PointEoC Master
End Products Using CG Silicon
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Over 30 Direct Customers
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Over 30 Operator End Customers
AT&T U-verse is our largest end customer, but many others deploying HPNALargest footprint in North AmericaCopperGate HPNA wins on performance, price, power, ease of use
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
8Experienced Team With History of Success
Gabi Hilevitz CEO
William (Bill) Simmelink President CopperGate Inc.
David Baum VP Marketing & Co-Founder
Nurit Benjamini CFO
Tzach Schwartz VP R&D
Rami Verbin CTO __________________________
Rami Kopelman VP Business Development Europe and Asia
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Battle for Connected Home
Dramatic growth in broadband connectivity and bandwidthTelco’s attacking cable TV marketCable attacking telephony business
Digital Convergence
Rapid adoption of High Definition TV and PVRs
Convergence of computing, telephony and TV
Need to distribute content across home in reliable, standard, efficient and cost-effective manner
Market Drivers
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Interconnect Device Shipments
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
Large and Growing Market Opportunity
Over 600M wireline network nodes will ship in next 3 years $1.5 billion market for wireline Home Networking silicon by 2011 Total WW IPTV subs will grow from 13m in 2007 to 103m in 2011
Source: iSupply, April 2007
Silicon TAM
$0$200$400$600$800
$1,000$1,200$1,400$1,600$1,800
2005 2006 2007 2008 2009 2010 2011
M
M
M
M
M
M
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Telco’s Triple Play
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
12Success Story - AT&T U-verse
AT&T U-verse Roll-out • New portfolio of integrated digital TV,
high speed Internet and voice services
• Engaged with Alcatel, Microsoft, Motorola, Scientific Atlanta, & 2Wire
• 17 million homes passed by Q408/e, 30 million homes passed by 2011/e
• 1,045K subscribers by Q408/e and growing
• Available in 82 markets across 16 states
CopperGate's Role• CopperGate is the sole provider of chips for in-home distribution of video
• Penetration is 4-6 chips/subscriber
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
13MDU Broadband Access
IP Services to Multiple Dwelling Units
CopperGate Confidential Information
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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The Wired Home Networking Battle
HPNA3CopperGate
HPNA3CopperGate2005
2009
2012
Coax Phone PowerLine
MoCA1Entropic
HomePlugIntellon
MoCA1Entropic, BRCM
HomePlugIntellon, CopperGate
ITU-G.hnCopperGate, Intellon? Ikanos?
DS2? Gigle? TI? Intel? ST? IFX?
MoCA2Entropic?, BRCM
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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2004 2005 2006 2007 2008 2009E
Revenues Net Profit
Financial Highlights
Fabless semiconductor companyScalable business modelStrong revenue growthSustainable gross marginProfitable since 2007Accelerating cash generation
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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SUMMARY
Market leader with the highest performing home network solutionsOnly silicon company supporting all three wire typesWidest offering including HomePNA, HomePlug AV, and soon, G.hnStrong revenue growthSustainable gross marginOpportunity to become the dominant home networking franchise
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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5 March 2009CONFIDENTIAL// CopperGate Communications, Inc.
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Thank You
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February 2009
Confidential proprietary data MGVS
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MGVS - Snapshot
Promising results in PI/IIa study in no-option patients
Four product groups with strong IP position
Potential collaboration with a major player
Proven operational capabilities in two continents
Approved IND’s for two products, Initial PEI (Germany) Approval for 1 product
Unique, devoted and capable team
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Proprietary Technology
Manufactures cell based product that support the growth of new arteries
Utilizes cells and proteins that are operative in the natural development and maintenance of the arterial tree
Leading products include:■ MultiGeneAngio – endothelial cells and smooth muscle cells modified with
the Ang-1 and VEGF gene respectively
■ MultiGeneGraft – surgical graft coated with endothelial cells modified with VEGF and adhesion genes
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MGVS Products: Current Status and
Development Program
ProgramProduct in
development
Research /
preclinical
development
Phase I/IIa Phase IIb
PAD - Angiogenesis MultiGeneAngio
PAD – Bypass grafts MultiGeneGraft
CAD - Angiogenesis MultiGeneAngio
AV Access graft MultiGeneGraft Dialysis
CAD – Clot resistant stent
MultiGeneStent
Liver disease MultiGeneLiver
Diabetic eyeMultiGene DiabeticEye
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MultiGeneAngio
Therapeutic objective: alleviate ischemia in peripheral arterial disease & cardiac arterial disease patients
Utilizes the patient’s gene-modified cells
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Efficacy study shows improved blood flow after treatment
with MultiGeneAngio when compared to each cell type alone or cells without genes
MultiGeneAngio
100%
80%
60%
40%
20%
0%Control
(n=18)
MGA ther.
(n=17)
Naïve + LacZ
(n=16)
ECang
(n=14)
SMCvegf
(n=12)
Rt. To Lt. CFA Blood flow ratio (Aver±SD, p<0.001)
MGA (MultiGeneAngio) significantly* improved perfusion in rabbit hind limb model of ischemia in comparison to endothelial cells (ECAng Ther), Smooth muscle cells (SMCvegf ther), saline injection (control) or naive +lac Z cell combination (untransduced cells or cells transduced with marker gene).
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MultiGeneAngio: Arteriogenesis in a Rabbit PAD Model at 6 Months
New Arteries
New Arteries
Control Treated
Confidential proprietary data MGVS
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Smooth Technology Transfer to
Top US Centers
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Study highlights
“you must treat my other leg” Patient #5 (from Philadelphia)
“The only time I have seen such a dramatic
improvement was after
successful bypass surgery
or balloon or stent ” Dr. M. Grossman from Ann Arbor on the improvement of the first two patients
Angiogram of patient #2 at 1 year follow up showing an occluded stent and bypass graft and a robust collateral arteries after therapy (“enhanced natural
bypass”)
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The need for MGG - bypass surgery
Occluded artery
Bypass graft
Current failure rates PVD synthetic grafts:
42-73% after 3 years due to scar formation (neointima proliferation) and clotting
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MultiGeneGraft: Polymer Graft Lined with Endothelial Cells
Polymer graft
Confidential proprietary data MGVS
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Angiography at 6 months show that MultiGeneGraftimproved graft patency in comparison to control graft
MultiGeneGraft
NaiveNaiveBareBare
dual genesdual genes
EC expressing dual genes (n=6)
1/6
naive endothelial Cells (n=6)
4/6
ePTFE bare grafts(n=6)
5/6
Type of cellsseeded
Total occlusion
Confidential proprietary data MGVS
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Management Team
Guy Yachin, CEO
■ Former CEO of Chiasma Inc., Naiot Technological Center
■ Initiated the establishment of biomedical companies such as
Remon, Enzymotec, NanoPass
Moshe Flugelman, President & CTO
■ The founder of MGVS, based on research started in 1989
■ An interventional cardiologist and a faculty at Carmel Medical Center
and the Technion
Ranny Yaffe, CFO
■ Former CFO of BioShaf and BioPreventive
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Board of Directors
Benjamin Zeevi, Chairman of the board■ Managing General Partner, Tamir Fishman Ventures
Yoav Chelouche
■ Managing General Partner, Aviv Ventures
Yoav Doppelt■ CEO, The Ofer Hitech Group
Azin Parhizgar■ Formerly Medtronic and COO of Conor Medsystems
Moshe Flugelman
Guy Yachin
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MGVS quadruple market opportunity
Cell-based products Time to market or Deal
Intellectual Property
Required funds for Strategy
Market:Patients (US)
Market: Overall $ (US)
MGVS’ Strategy
Angiogenesis opportunity – PAD 2-3 years Eu + $20m 225K 7.8B1 Complete pivotal
Angiogenesis - CAD 2 years Eu + $0.8m 650K 22B1 Collaborate early
1Overall Market, 2Annual Market,
Tissue engineering products
Biosynthetic graft - PAD 1.5-2 years US + $2.5m 24K 720M2 Collaborate (PI/IIa)
Biosynthetic graft - Dialysis 2 years US + TBD 63K 940M2 TBD
Protein – based products
Protein eluting stent 2 years US + $0.8m 1.6M 320M2 Collaborate early
Organ regeneration products
Liver regeneration 2 years EU, USA+ $0.5m 12K 1.2B2 Collaborate early
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Intellectual Property Protection
for Multiple Applications
Strong patent position covering all fields of core technology, as well as current and future products and business model (6 core patents application). Portfolio is managed by the Boston office of Mintz, Levin
Two US patents granted,
7,364,725 Endothelial cells engineered to express or overexpress fibulin-5 and a growth factor
7,175,658 Artificial vascular grafts, their construction and use
Claims of two additional applications granted allowance (liver regeneration, biological stent)
One European patent granted
Nucleic acid constructs, vascular cells transformed therewith, pharmaceutical compositions and methods utilizing same for inducing angiogenesis
Claims of additional application granted allowance (liver regeneration)
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Regulatory plan
A second phase I/IIa study in Critical Limb Ischemia (12 patients, 3 months flow up, two doses)
Primary endpoint: safety
Secondary endpoint: efficacy
Pivotal study Critical Limb Ischemia: 150 patients, 6 months follow up
Primary endpoint: efficacy (relief of pain, wound healing)
Israel, US, and Germany
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Conclusions
Therapeutic breakthrough products addressing very large markets for no option patients
Great investment opportunity with rapid entry to multiple markets
Impressive pipeline with quadruple market opportunity
Encouraging results in Phase I/IIa studies
Attractive Business model
Clear and rapid regulatory pathway
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1
VoltaireVoltaireVoltaireCompany OverviewCompany Overview
March 2009March 2009
Ronnie KennethChief Executive Officer
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© 2009 Voltaire, Ltd.. 2
Safe HarborSafe Harbor
Certain statements in this presentation relate to future results that are forward-looking statements.
This presentation contains statements involving risks and uncertainties, including statements relating to Voltaire’s
market opportunity and future business prospects. Actual results may differ materially and reported results
should not be considered as an indication of future performance. Factors that could cause actual results to
differ are included in Voltaire’s Form 20-F.
Trademarks which appear in this presentation belong to their respective owners.
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© 2009 Voltaire, Ltd.. 3
Voltaire (NASDAQ: VOLT) - BackgroundVoltaire (NASDAQ: VOLT) - Background
Leading provider of scale-out data center fabrics- Used by more than 30% of Fortune100 companies
- Worldwide locations; ~185 employees
Generated 2008 YoY revenue growth- 16% YoY reaching $62 million
Healthy cash balance to fuel growth strategy- $55 million of cash end Q4-08
Announced several key products and partnerships in 2008
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© 2009 Voltaire, Ltd.. 4
What is Scale-out Computing?What is Scale-out Computing?
The ability to build large data centers that scale horizontally to thousands of servers while:
- Leveraging industry standard servers, storage and fabrics
- Delivering highly dense and power efficient infrastructure
- Enabling applications to accelerate performance while scaling out in resources
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© 2009 Voltaire, Ltd.. 5
Voltaire Unique Value PropositionScale-out Computing Fabric for Data CentersVoltaire Unique Value PropositionScale-out Computing Fabric for Data Centers
Performance Efficiency
ApplicationAcceleration
Data CenterScale-out
High PerformanceScale-out Fabrics
Platforms and Software
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Voltaire – The Data Center Pure PlayVoltaire – The Data Center Pure Play
Ethernet / Fibre Channel Network
The Scale-out Data Center
WAN
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Successful Growth StrategySuccessful Growth Strategy
Premier OEM Go-To-Market Strategy
Vertical Solutions Approach
EnergyFinancial
Government Manufacturing
Entertainment Life Sciences
Differentiated Products
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Fabric & I/O Management Software
Voltaire Product PortfolioEnd-to-end Scale-out Fabric SolutionsVoltaire Product PortfolioEnd-to-end Scale-out Fabric Solutions
Application AccelerationSoftware
Server Fabric and I/O Virtualization Hardware
Data Centers CloudsClusters
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Innovating with new 40Gbps Platforms and Software Innovating with new 40Gbps Platforms and Software
UFM Unified Fabric Manager
Grid Director 4700
Just
Announced
Grid Director 4036
Already
Shipping
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Delivering Scale-out Fabrics Across Industries Delivering Scale-out Fabrics Across Industries
Scaling Out Oracle ExadataDatabases and Storage
Powering theWorld LargestSupercomputer
Scaling Out Audi’s CAE Applications
Scaling-out JPMorgan’s Compute Backbone
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Financial HighlightsFinancial Highlights
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Revenue and Gross Margin Evolution (m. US$)Revenue and Gross Margin Evolution (m. US$)
Gross Margin
* Gross Margin on a Non-GAAP basis, please refer to the end period financial release for the full reconciliation
Q4
Q3
Q2
Q1
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Financial Statement HighlightsFinancial Statement Highlights
Q4’ 07Q4’ 0820072008M. US$
17.413.253.161.6Revenues
47.8%55.5%42.6%53.1%Gross Margin*
0.7(1.9)(2.2)(1.7)Op. Profit (Loss)
1.4(1.7)(1.5)(0.9)Net Income*
59.655.8Ending Cash Balance
61.759.6Shareholders’ Equity
- Available cash includes cash, cash equivalents and marketable securities as at the end of the quarter* On a Non-GAAP basis, please refer to the end period financial release for the full reconciliation
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In SummaryIn Summary
Three-Pronged Long-Term Growth Strategy
Substantial Business Developments in 2008
Healthy Cash Position Creates Opportunities
• Differentiated Vertical Markets approach• Premier Go-to-Market Partners• Innovative and Market Leading products
• Oracle\HP Launched New Database Machine based on Voltaire InfiniBand• GA of 40 Gbps QDR InfiniBand switching platform • Developing of new 40 Gb/s switch for IBM BladeCenter
• December ending cash balance $55 million with zero debt
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Thank YouThank YouThank You
Ronnie KennethChief Executive Officer