DeinoveThe Specialist in Deinococcus Bacteriafor Biofuels and Green Chemistry

Certain information contained in this presentation includes forward-looking statements. Forward-looking statements are not guarantees offuture achievements or performance of the Company and its actualachievements, financial condition, actual results of operations andcash flows and the development of the industry in which it operatesmay differ materially from those made in or suggested by the forward-looking statements contained in this presentation. These statementsare based on management’s current expectations or beliefs andinvolve risks and uncertainties that could cause actual results to differmaterially from those described in the forward looking statements.

Forward Looking Statements

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CONTENTS

1. Deinove in a Nutshell

3. Deinove’s Technology

4. Deinol Project & Biofuels Applications

5. Deinochem Project: Green Chemistry

6. Deinobiotics Project:Antibiotics

7. Our Progress to date & Next Steps

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2. Deinove’s Human Assets

Deinove in a Nutshell

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DEINOVE in a Nutshell

Deinove designs and develops breakthrough technologies by exploiting the exceptional properties of the Deinococcus(biodiversity and robustness) to generate innovative industrial processes in biofuels and green chemistry

Development of innovative bioprocesses up to market, in cooperation with industry leaders

Revenues to be generated by licensing agreements

First partnership signed with TEREOS for the production of 2nd-generation ethanol (Industrial pilot planned in 2.5 years)

Sufficient cash secured to fund development programs up to 2014

Break-even expected within 3-4 years

Industry-oriented boards and strong management team

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DEINOVE (1/2)

Key Facts• Founded by Prof. M Radman & Dr Philippe

Pouletty in 2006

• HQ in Paris, Laboratory in Montpellier

• 23 employees, 18 in R&D

• IPO April 2010 (€12m raised)

• Listed on NYSE- Alternext (ALDEI)

• Market cap: €23m (as of Nov 2010)

Finances• Oseo grant and loan € 7m

• Cash in hand €12m (Oct 2010)

• Cash burn guidance approx € 4-5m /year

• R&D expenses: 80% of total

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75%

2%

1% 22%

Truffle Tereos Scientific founders Floating

Shareholders(non diluted basis)

DEINOVE (2/2)

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Scientific Assets

• 6,000 proprietary Deinococci bacteria• Unique technology of bacteria selection

and optimization• 9 international patent applications

Partnerships

• Industrial partnership with Tereos• French academic partnerships: CNRS, INSA• International academic partnership : VTT

(Finland)

Programs• Deinol –2nd generation BIOFUELS from all types of feedstocks• Deinochem – GREEN CHEMISTRY that can substitute petrochemicals• Deinobiotics – next generation

ANTIBIOTICS

Deinove’s Human Assets:

Concentrated Grey Matter &

Light Operational Costs

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An Integrated MultidisciplinaryR&D Team at Deinove’s Service

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CNRS Marseille

Genomics

3 researchers

VTT Finland

Enzymology

Metabolism

10 researchers

Paris Descartes

Necker Hospital

Genetics

2 consultants

INSA Toulouse

Fermentation

2 researchers

1 consultant

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Deinove’s Lab

Montpellier

Microbiology

Molecular

Biology

Enzymology

18 researchers

VTT – Deinove PartnershipA Major Boost to the Deinol Project

20 Months Research Services Contract signed on June 2010

Objectives:

• Helping Deinove in selecting the candidate host

• Studying biomass digestion properties of Deinococcus (enzymes characterisation)

VTT = Technical research center of Finland / the biggest multitechnological applied research organisation in Northern Europe

Under the Ministry of Employment & Trade

Budget 2010: € 276 million – Headcount: 2935 pers.

1/3 public funding, 1/3 industrial contracts, 1/3 EU, Tekes, etc.

Bio & Process Technology: 450 persons

Areas of research: Health and well-being, Water and Environnement, Industrial Biotech & Green chemistry

Unique Analytical Platform, Excellent expertise in Enzymes & Process Development

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Professor Frédéric DardelTechnology Transfer Advisor to

the President of Paris-Descartes

University

Christian PierretFormer French Minister for Industry

Nabil SakkabFormer Senior Vice President, Corporate

R&D, Procter & Gamble.

Professor Rodney J. RothsteinProfessor of Genetics,

Columbia University (New York)

Paul-Joël DerianVice President R&D, Rhodia

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Philippe Pouletty MDChairman of the Board

An International, Business-FocusedBoard of Directors

Philippe DuvalCEO, Tereos

Bruno WeymullerFormer Strategy Director

of the Total Group

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Multiple Skills

Prof. Gérard Goma

INSA Toulouse

International expert in industrial

bioprocesses and fermentation

Prof. Miroslav Radman

Director, INSERM Unit 571, "Molecular,

Evolutionary and Medical Genetics",

INSERM Grand Prix laureate,

Member of the French Academy of

Science

Prof. Patrick Forterre

Paris-Sud University,

Department

of Microbiology at the

Pasteur Institute.

Florence Lazard

Intellectual property

expert

Ivan Matic

Molecular biology and Genetics

CNRS Research Director

Prof. Pierre Monsan

INSA Toulouse

Enzymologist

Ecole des Mines

Prof. Bernard Pau

University of Montpellier

Strategic Advisor

to Deinove

A multidisciplinary Scientific Advisory Board An experienced management team

Alain Chevallier

CFO

Former CFO, sanofi aventis France

Angelita de Francisco

Business Development Director

Former Secretary General,

France Biotech

Jean-Paul Leonetti, pHD

CSO

Former CNRS Research Director

Jacques Biton, pHD

CEO

20 years in R&D, notably at

Roussel Uclaf /Aventis,

Co-founder of Oroxcell

Deinove’s Technology

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Deinococcus: Naturally adaptedfor Industrial Processes (1/3)

3 to 4 billion years of evolution and adaptation:the most robust living organism on earth

Deinococcus is able to resist extreme industrial conditions:• Temperatures between 30 and 60 °C

• pH range between 3 and 10

• Harsh fermentation conditions (large volumes, non homogenous substrates …)

• Solvents naturally toxic for other bacteria

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Deinococcus: Naturally Adaptedfor Industrial Processes (2/3)

Unique ability to reassemble its genome when damaged • Unique resistance to radiation

• High biological stability

Non pathogenic strain

Non GMO (self-cloning approach)

No need for confinement measures

Easier registration and authorization

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Deinococcus: a Genetic Thief (3/3)

Deinococcus incorporates genes from other rare species

A wide range of functional properties available for industrial applications

Ability to digest biomass: cellulose, hemicellulose, starch, i.e. all components of vegetable biomass

Naturally customized for industrial bioconversion of biomass

Replace feedstocks as substrates for new industrial approaches

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Main Applications of Deinove’s Technology

Green chemistry• Biologically produced compounds

as substitutes for petrochemicals

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Pharmaceuticals• The production of novel

antibiotics for combating newly resistant microbial pathogens

Biofuels• Optimize the production of first- or second-generation

biofuels from all types of bio-based feedstocks

Major, fast-growing markets that are looking for innovative solutions

Deinove’s Expertise

An unrivaled proprietary collection of 6,000 rare Deinococcibacteria

Patented screening and exploitation tools

A genome repair mechanism, discovered and patented by Deinove, that offers a unique technology for bacteria optimization: non GMO

Massive parallel sequencing

Metabolic studies

Fermentation know-how• A dedicated research team of 18 people in Montpellier

• Led by Jean-Paul Leonetti

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from screening to commercial exploitation

Genomic analysis

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Functional screening

2

Genetic engineering

for optimization

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Analysis of

fermentation

performance levels

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Industrial pilot

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Demonstration

Commercialization

7Sourcing of bacteria

from the environment

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Deinove’s DeinococcusDevelopment Platform

From screening to commercial exploitation

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Deinove’s DeinococcusDevelopment Platform

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Securing the microbial collection & enlarging its biodiversity

Processing the cell factoryMonitoring of microbial biomass production & sugars consumption

Building the cell factory

5 candidate strainsUnderstanding the metabolismGenome modifications

6000 strains

Creating the tool box

April : 600 Deino thermophile on ethanol

Junel:

Screening the biodiversity1400 Thermophile Deinococci

Transformability of the hostMicrobial Genomes sequenced: > 35Gene resources Genetic tools

Deinove’s DeinococcusDevelopment Platform

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Pilot

6000 Strains

1400 Thermophile

Deinococci

5 Candidates

1 Strain digesting biomass

and fermenting ethanol:

0,5% by Feb 2011

3% by Feb 2011

10% by Feb 2012 (end of

lab scale-up)

The Deinol Project &

Biofuels ApplicationsBIOFUELS

GREEN CHEMISTRY

ANTIBIOTICS

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Biofuels: What are the Challenges?

Need to reduce dependence to oil and to urgently address climate change issues

Stepping from first generation to second-generation biofuels production means:• Using any type of biomass thus reducing food vs fuel competition

• Obtaining better production yields to compete with petrochemical processes

There is a substantial unmet need to develop industrial processes that allow for the optimal digestion of all biomass components – not only glucose.

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Limitations of Traditional Bioethanol Production Processes

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Food crop

Blending Fermentation Distillation

EthanolStarch

Co-products containingcellulose and hemicellulosefrom the branAnimal feed

Enzymes 70° C Yeast 32° C 72°C

Hydrolysis

The DEINOVE Bacterial Factory versus Current Practice

All biomass

Blending

Ethanol

Starch+Bran Cellulose

Hemicellulose

Increased nutritive contentof the co-productfor animal feed

Integrated processDeinococcus 50° C

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Distillation72°C

1 Renewable Fuels Association

Potential Advantages of the Deinove Process

A breakthrough innovation: Use of non-foodbiomass as a feedstock: Digestion of C5 + C6+ cellulose + hemicellulose

Higher yields: + 20%

Implementation in existing factories: Reduction of Capex

Energy savings: less water and energy consumption(no need to cool fermentors)

Less process constraints, resistance to higher ethanol concentrations

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A global market worth $38 billion in 2009

Growing at 10% per year 1

Biomass

Potential Users of Deinove’s Technology

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Agrifood groups (Tereos, Cristal Union, Poet, Roquette, etc.)• Optimization of production costs

Biomass producers (Cargill, papermakers, etc.)• Downstream diversification, value creation

Oil and energy companies (Areva, BP, Exxon, Shell, Total, etc.)• Upstream diversification, added-value capture

The goal: industrial development of a Deinococcus-basedintegrated process for producing second-generationbioethanol

The DEINOL Project: a Major Industrial Partnership

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TOTAL PROJECT COST € 21.4 MILLION

Supported by the French Innovation AgencyOSEO – ISI Program A total of €8.9 million in grant and loan, including €6 million for DeinoveThe largest ever French grant-in-aid in this field

Project leader AcademicPartner

Industrial partner AcademicPartner

Tereos – Deinove Partnership

A global player in sugar, starch and alcohol, committed to R&D in bioethanol 2G through partnered and in-house projects • 35 industrial facilities in Europe, Brazil, Indian Ocean

• 3,800,000 tonnes of sugars

• 1,800,000 tonnes of starch products

• 1,800,000 m3 of alcohols and bioethanol

• 3.3 billion euros in sales

• Cereal processing and sugarcane businesses grouped within a new company, Tereos Internacional (Bovespa:TERI3)

Collaborative Research within the Deinol Project and Non-Exclusive Option to Licence

Tereos will perform the industrial Pilot trials (beg 2013)

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Deinove in Biofuels: Deinol’s timeline & outcomes

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2010/2011 2012 2013 2014 - 2 months 2014

Royalties

Royalties

RoyaltiesMilestone

MilestoneUpfront payment

Upfront payment

DEINOL/TEREOS cereals

DEINOL/Partner : corn, sugar cane

DEINOL/papermanufacturer - cellulose

IndustrialisationIndustrial Pilot Demonstration plant

Research & DevelopmentStrain optimization Labscale Pilot

Commercialisation

Deinove: a Large Spectrum Solution Compared to Competition

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Company Hemicellulose Cellulose

BIOGASOL (DK)

MASCOMA (US) NO NO

TMO Renewables (UK) YES NO

QTEROS (US) NO YES

COSKATA (US)

ZEACHEM (US)

DEINOVE (FR) YES YES

NOSteam explosion + Enzymatic

hydrolysis

Syngas

Enzymatic hydrolysis

The Deinochem

Project

& Green Chemistry

BIOFUELS

GREEN CHEMISTRY

ANTIBIOTICS

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RenewableChemicals

All typesof biomass Blending

starchcellulose

hemicellulose

Deinococcus

Additional outputs from the Deinol project: Deinococcusproduces high-added-value organic acids

The Deinochem Project: Harnessing the Potentialof Bacteria for Green Chemistry

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Deinove in Green Chemistry

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2010/2011 2012 2013

Strains selection

and optimization Lab pilot Commercialisation

2014

CommercialisationIndustrial developmentResearch & Development

Industrial pilot

On-going discussions with potential industrial partners (Tereos, Rhodia,

DSM, etc.)

1st Green chemical project to be partnered in 2011

Deinobiotics Project:

Antibiotics and Anti-

fungal Discovery

BIOFUELS

GREEN CHEMISTRY

ANTIBIOTICS

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Serendipitous outputs from Deinove’s collection: several strains produce compounds with strong antibacterial and antifungal activities

A critical public health issue: epidemic infections and multiresistance to today's antibiotics

Strong demand from clinicians and health authorities

All today's antibiotics have been derived from the same, conventional bacteria

Deinobiotics : Leveraging our Bacterial Collection

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registration of new antibiotics (1993-2009)

88/92 93/

9798/02

03/07

83/87

1980 1985 1990 1995 2000

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20

30

40

50

60

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14

12

10

2

4

6

8

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2005

Progression of antibiotic-resistant microbial infections

Source: ISDA « Bad bugs, no drugs »

DEINOBIOTICS: from Biodiversity to Molecular Diversity

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An example of strain producing antibiotic compounds

Deinove bacterium

StaphylococcusZone with antibiotic activity

70 diverse strains selected out of 6,000 having anti Gram positive, anti Gram

negative and antifungal activities

First in vivo assay in 2011

Our Progress to Date

Next Steps

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Progress since the IPO

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July 2010 - VTT Finland Partnership signed in July 2010:

a major asset for the Deinol Project

July 2010 - OSEO 1st payment for Deinol Project

Oct 2010 - Philippe Duval, CEO of TEREOS, joined the Board

Oct 2010 – Deinobiotics Project receives a new OSEO major financing of €1.35 m ; Consortium agreement between Partners (Nosopharm, 2 CNRS Labs and Deinove)

Dec 2010 - 2 New Patents filed; Founding Patent receives Notification of Allowance from European Patent Office

Perfectly in line with our roadmap…

Newsflow: Excellent Mid-term Perspectives

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2010-2011

Partnershipin green chemistry

R&D agreementin bioethanol

2012

Partnership in green chemistry

Partnership in bioethanol (corn)

Antibiotic drugcandidate

2013

Partnershipin green chemistry

New ethanolpartnerships (sugarcane, sugar beet …)

Licensing an antibioticcandidate

2014

New bioethanollicense agreements

Antibiotic drugcandidate

Financial breakeven

IndustrialPilot

Demonstrationplant

Lab PilotR&D Production

Conclusion

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The Deinococcus company

A focused business model

Breakthrough technology

Tereos agreement

Untapped markets

Breakeven by 2014

Substantial revenue stream

Contact us

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Jacques Biton, CEO

Tel: + 33(0)1 42 03 27 37

Cell: + 33 (0)6 87 20 10 76

jacques.biton@deinove.com

Elisabetta Castelli, Investor Relations

Cell: + 33(0)6 13 66 39 39

elisabetta.castelli@deinove.com

www.deinove.com