Seer, Inc.

Good day and thank you for standing by. Welcome to the sheer fourth quarter and full year 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star one on your touchtone telephone. Please be advised that today's conference may be recorded. If you require any further assistance, please press star then zero. I would now like to hand the conference over to your host today, Carrie Mendeville, Investor Relations. Please go ahead.

Thank you. Earlier today, SEER released financial results for the quarter and year ending December 31st, 2021. If you have not received this news release, or if you'd like to be added to the company's distribution list, please send an email to investors at seer.bio. Joining me today from SEER is Omid Fereqzad, Chairman, Chief Executive Officer and Founder, and David Horn, Chief Financial Officer. Before we begin, I'd like to remind you that management will make statements during this call that are forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. Additional information regarding these risks and uncertainties appears in the section entitled forward-looking statements in the press release to your issue today. For a more complete list and description, please see the risk factors section of the company's yearly report on form 10K for the year ending December 31st, 2021, and as other filings of the Securities and Exchange Commission. Except as required by law, SEER disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast, February 28th, 2022. With that, I'd like to turn the call over to Omid.

Thanks, Kerry, and thanks, everyone, for joining us this afternoon. 2021 was a momentous year for SEER. We had a strong first year as a publicly traded company with the commercial launch of our product and tangible progress across all areas of our strategic plan. These significant efforts resulted in $6.6 million in revenue for the year and laid the foundation for broad release of the Protograph product suite. We shipped 17 instruments to our collaborators and customers by the end of 2021. We completed the first two phases of our commercialization strategy and onboarded Lighthouse customers across multiple market segments, which paved the way for future market adoption and exemplification of the unique capabilities of our technologies. We demonstrated the power of this technology together with our customers with more than 25 abstracts across a number of scientific conferences. We established partnerships with industry-leading mass spec providers, Thermo Fisher, Bruker, and Cyax, and presented results on our joint workflows. We made great strides in strengthening teams across our organizations, including commercial, operations, quality, data science, and R&D. We made significant progress building our operation infrastructure, including systems and lab space and executed contracts with key suppliers and partners to support our growing customer base globally, all while minimizing disruption to the business during the COVID pandemic. We also continued to build our board of directors, adding strong operating leaders representing a cross-section of industries, company sizes, and market segments. I couldn't be more pleased with the progress we made in 2021, and I'm more confident than ever as we're squarely focused on the customer experience and the broad release of the Protograph product suite. I had previously shared at the JPMorgan Healthcare Conference in early January that we officially entered into broad release and have built a strong pipeline of demand for the ProteoGraph product suite. I'm encouraged by the depth and breadth of discussions we're having with potential customers. We believe we are well positioned to become the definitive tools leader in proteomics. We envision a future in which entire ecosystems and markets will be created or expanded with customers using the ProteoGraph product suite to access unbiased, deep, rapid, and scalable proteomics across a myriad of applications. Heading into 2022, we are continuing to ramp our commercial efforts to meet this expected demand. Over the course of the year, we will be focused on five key objectives. First, growing our installed based-up instruments. Second, expanding our partnership efforts to continue to extend our global reach, making it easy to access our technology and allow us to serve a diverse customer base. Third, supporting customers with an industry-leading onboarding and user experience so they can get up and running quickly. Fourth, continuing to build out our commercial capabilities, geographic footprint, and team. And fifth, driving the product roadmap and exploring more applications for proprietary engineered nanoparticles in 2022 and beyond. We have a strong pipeline of prospective customers with a roughly equal mix of academic and commercial entities. We're seeing interest across a broad range of applications, including biomarker discovery and target identification for drug development. For diseases such as neurodegenerative diseases, oncology, cardiovascular, and other complex diseases, and for market areas such as reproductive health, aging, veterinary, direct-to-consumer, and population-scale initiatives. The Proteograph product suite is performing exceptionally well in customers' hands. We routinely receive positive feedback about the product's usage, installation, and support experience, and this I'm very proud of. We have built a foundation for customers to log in and self-serve online, and we're launching a customer portal to enable this capability in the first quarter. The ease of onboarding and the power of our technology to deliver insight is demonstrated by how quickly limited release customers are presenting their data. Even small proof-of-principle studies using the Protograph product suite have generated exciting results and presentations at conferences. Larger studies are beginning in aging, cancer, and complex diseases. Oregon Health Sciences University, one of our collaboration sites, is running their study of approximately 1,000 samples in the first quarter, and they're currently about halfway through processing their samples. We expect they will submit abstracts later this year. During this week's U.S. CUPA conference in New Orleans, we're presenting seven posters, some in collaboration with our customers. demonstrating the power of unbiased B-proteomics at scale. In addition, there is an aid posted that will be presented by Prognomic, sharing their analysis of N-link glycans in cancer patients using the Proteograph product suite. Their study of 212 subjects, inclusive of 96 healthy controls, yielded hundreds of glycopeptides. Importantly, this demonstrates the Proteograph product suite's ability to detect glycosylated proteins. Glycosylation is a common post-transitional modification and is involved in the normal functioning of the cell and in the development of diseases such as cancer. Previously, these glycoproteins could only be robustly identified utilizing specific enrichment strategies. In one of our own posters being presented at the US HUPO, we're demonstrating our new software package. the Proteograph Analysis Suite, which leverages our scalable cloud-based software for large-scale proteogenomic data analysis and visualization. Another poster being presented demonstrates the high proteome depth, ability to identify new protein variants, and the reproducibility of our technology in customers' hands. with a 1% false discovery rate for protein identification. This was shown in a study with a cohort of 200 individuals, including Alzheimer's disease patients and healthy controls. Across this cohort, we identified at least 5,500 protein variants, inclusive of 4,700 unique protein groups at a 1% false discovery rate. Looking at this data at peptide level resolution, we identified over 63,000 peptides, inclusive of more than 1,350 unique peptide allele variants. Importantly, more than 500 of these peptide variants have not been previously reported in the major public peptide repositories or in the ClinVar genomic variant database. This is a key benefit of our technology. Our solution is the only available at-scale technology to deliver peptide and amino acid level resolution, which is needed to match with nucleotide level genomic information in order to broadly enable proteogenomics. As studies scale to larger cohorts, we expect to find increasing catalogs of protein variants, including alleles, splice forms, and post-transitional modification to enable increasingly more powerful proteogenomic analysis. At scale, we believe this kind of novel biological insight will be key to unlocking the proteome and likely lead to applications and therapeutics not otherwise possible. Geographically, we're seeing a growing interest across North America, Europe, and Asia, and as a result of our expanding commercial footprint. to our ongoing efforts in North America and Europe, we're diligently working through COVID constraints to establish our presence in China with installation and training occurring this month at our distributor in Light Medical. We're in an excellent position to expand our installed base in 2022 and are eager to continue to get the Protegraph product suite into customers' hands and see their biological insight grow. Earlier this year at the JPMorgan Healthcare Conference, we announced the launch of our Center of Excellence program, a program that partners SEER with select premier multi-omic service providers to offer unbiased deep proteomic services to customers around the world. We have strategically selected each COE based on geography and expertise. In North America, we have Biodesic Discovery Life Sciences, and Sanford Burnham Prevost Medical Discovery Institute, with services and expertise targeted at pharma, genomics, and academic customer group, respectively. Outside of the U.S., we have partnered with Evotech in Europe and Soulbrain in South Korea. These partners are at varying stages of commercializing their services using the Protograph product suite, and the majority of them are ready to go and have already received inquiries since our announcement at J.P. Morgan. We also announced a key collaboration to expand access of deep unbiased proteomics for genomics customers to enable proteogenomics and multiomics studies at previously unimaginable scale. Together with Discovery Life Sciences and Leany Genomics Service Provider, and one of our COEs, and Cyax, one of our current commercial partners and a leading provider of mass spec platforms, we have created a first-of-its-kind proteogenomic consortium. This is a multiyear collaboration that incorporates a three-phase expansion where Discovery will set up, expand, and offer defund bias proteomic capabilities to their existing genomic customers. ramping toward an annual capacity of over 100,000 samples per year. This is, of course, done using the Portograph product suite and the SIAC Xenotops 7600 platform. We expect the consortium to become operational in the second half of 2022 and look forward to updating you on its progress. I'm extremely pleased with the execution of our commercial strategy over the past year. None of this would have been possible without the critical talent to drive progress across these important fronts. And we have more than doubled our organization in 2021. We have also continued to build a diverse and experienced board with new members, including Mika Guliani, a seasoned life science and pharma leader with global experience across markets, including Asia. And Rachel Horowitz, a highly accomplished and distinguished scientist and CEO in a high growth emerging area of gene editing. We're very proud of our progress in attracting top performing, passionate people to see a team, and we believe this is the fuel to drive our business as we head into 2022. We are engaged with top institutions and scientists across the world to enable unbiased deep proteomics at scale. We're seeing first-of-their-kind, unbiased, large-scale projects being planned and funded. We're seeing robust performance of the product in customers' hands with compelling data being presented just months after gaining access to the technology. And we're building a strong pipeline across markets and customer groups as we continue to scale our commercial organization to open up a new gateway to the proteome and unlock this exciting opportunity ahead. And with that, I will now turn the call over to David.