2010

ACTIVITY REPORT
 CONTENTS

4 Note from the CEO

6 2010 Highlights

10 Cellectis In brIef

12 Our core activity

16 CellectiS In 2010

18 Our science

22 Business development

24 Corporate development

27 Human Resources - Communications

30 Subsidiaries

31 Cellectis bioresearch

34 Cellectis plant sciences

36 Ectycell

38 Cellectis therapeutics

41 Financial statements

47 APPENDICES

NOTE FROM THE CEO

2010 a year of construction

We are living in an era that is redefining the very essence of biotechnology. The core concept Growth and development
of biotechnology is based on using living organisms to transform products by means of We made several acquisitions in 2010, offering us the promise of new technological
industrial methods. This notion was revolutionized in the late 1970s with the discovery of innovations and boosting our intellectual property portfolio. In September, for example,
recombinant DNA and the production of therapeutic proteins, developments made possible we purchased all the assets of CytoPulse, a company that specializes in electroporation
by our ability to modify DNA fragments in test tubes and reintroduce the products of this systems, a technique that will enable us to introduce meganucleases, or other molecules,
engineering process into cells, thereby changing their genetic makeup. We have now reached into a wide range of different cell types. We also decided to pursue the partnerships launched
a new stage in this biotechnological revolution. Changing the genetic makeup of cells is no by CytoPulse, meaning that we are in a position to benefit from the operating licenses
longer down to chance but is performed using rational methods. A discipline once characterized granted for electroporation technology. One strand of our development strategy is based on
by genetic manipulations resulting from makeshift “tinkering” with living organisms the acquisition of technologies that complement our genome engineering technologies and
has now become a branch of engineering science. DNA programming now uses a perfect can be used for a broad range of applications, from research to therapy. In the pursuit of
knowledge of the entire genome sequence to obtain a predictable, reliable and exact result. this aim, we have also acquired non-exclusive license rights that offer us access to induced
pluripotent stem (iPS) cell technology resulting from the work of Kyoto University’s Professor
A silent revolution Shinya Yamanaka. Cellectis is the first company in the world to secure licenses for human
Predictions in the field of biotechnology are often optimistic. But the speed at which therapeutic or prophylactic applications under this portfolio and will be making these
scientists have been able to decode the DNA of the human genome, and the DNA of all technologies available to its subsidiary Ectycell so that it can become a leading global player
iving species, has constantly surpassed all predictions. Today we are at the cusp of a new in this field.
era in which genetic information will be available to everyone. It is estimated that by 2013,
the cost of decoding the human genome will be less than 1,000 euros per person, Innovation and performance
and the process will be possible in under four weeks. In just a few years, millions of people We have made considerable progress in our key business sectors this year, both in terms of
will have their genome decoded and be able to use it to design customized medical science and product development and in the area of intellectual property and sales activity.
treatments. Genome engineering is situated downstream of this wave. The technologies It goes without saying that there is still a lot to be done, and we have not yet achieved all
developed by Cellectis will make it possible to treat innate or acquired genomic defects. our goals. However, we are more convinced than ever that we possess an effective economic
Genome engineering will generate a host of new, innovative products, taking up the model and technologies with the potential to make a radical impact. Our success is under-
torch from fossil and chemical resources. These new resources from living organisms offer pinned by the people who make up our group, our resources, our culture of excellence and
vast potential for growth and sustainable development over the coming decades. our vision of the biotechnology industry, which together have made it possible for us to build
a group on a global scale.
Leader in genome engineering
Cellectis is in a strong position in this emerging industrial sector. We develop new classes
of therapeutic products with the potential to transform the way in which diseases are
treated and to cure diseases that are currently incurable. We also develop products
for research, biopharmaceutical production, agrobiotechnology, induced stem cells and,
more recently, in the area of alternative fuels. Our approach to biotechnology is poised
to bring fundamental changes to this industry in the coming decades and to offer an Dr. André Choulika, Chief Executive Officer
endless source of innovation and growth for our society.

4 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 5

 2010 Highlights
Cellectis and the French National Institute
January
for Agricultural Research (INRA) sign
cooperation agreement
Cellectis and INRA wished to collaborate
in the fields of cell biology and plant
and animal biotechnologies. They
decided to pool their expertise, where
possible, to acquire new scientific
knowledge, to create technological
innovations, and to share these
results, knowledge, and transfer
technology to businesses, particularly
to small and medium-sized enterprises
in the agrofood, agriculture and
environment sectors.
6 l Cellectis l Activity Report 2010
Cellectis receives INPI National
January
March
Innovation Award 2009
Cellectis won a National Innovation
Award from the French National Institute
for Industrial Property (INPI). Cellectis’
IP Manager Michèle Paquier received
the award from the President of the
INPI Board, Thierry Morin. The awards,
organized annually by the INPI since
1991, honor small and medium-sized
enterprises whose growth can be attri-
buted to their outstanding innovation
policies and which use a comprehensive
intellectual property strategy to leverage
business growth. “Cellectis represents a
fine balance between research activities
and a healthy management strategy,”
said Thierry Morin.  
l l
Cellectis launches Cellectis plant
April
sciences, a subsidiary dedicated to
plant applications
The main aims of this subsidiary are to
increase and accelerate usage of Cellectis’
proprietary technology in agricultural
biology, broaden the company’s skills
base to attract new and expanded
licensing opportunities and explore the
development of proprietary traits for
selected applications. Cellectis plant
sciences is located in Minneapolis,
Minnesota, USA, with laboratory space
close to the University of Minnesota hereditary disease that is characterized
and its greenhouse facilities. Its Chief
Scientific Officer, Professor Daniel Voytas,
currently Director of the University mobility and death. The results of this
of Minnesota Center for Genome
Engineering, is an internationally
renowned scientist and established
expert in plant genome engineering.
New journal publication details in vivo
June
activity of Cellectis’ meganucleases in
muscle fibres
Researchers at the Laval University
Hospital Center in Quebec, Canada,
used meganucleases engineered by
Cellectis to restore the expression of
microdystrophin in human myoblasts
in vitro and in muscle fibers in vivo.
They were therefore able to show the
potential of using meganucleases to
treat Duchenne muscular dystrophy, a
by rapid degeneration of the muscle
tissue, eventually leading to loss of
research were published in the scientific
journal Gene Therapy.
Cellectis bioresearch and Lonza
July
enter development and commercial
manufacturing agreement
Cellectis bioresearch and Lonza, a world
leader in biotechnology manufacture
have entered into a contract for the
development and marketing of bioengi-
neered cell lines. Cellectis bioresearch
will use its meganucleases to inactivate
(“knock-out”) the glutamine synthetase
(GS) in CHOK1SV, Lonza’s proprietary
host cell line. John Birch, CSO of
Lonza Biopharmaceuticals, said, “Lonza
is delighted to work with Cellectis
bioresearch. This collaboration makes
sense and will enhance our long-
standing and successful GS technology.”
Stylized meganuclease.
New study shows meganuclease-driven
targeted integration using Cellectis
bioresearch’s cGPS® CHO-K1 kit to be
highly efficient for drug discovery
Scientific research based on a unique
method for generating stable cell lines
compatible with high throughput
screening (HTS) was published in the
Journal of Biomolecular Screening.
This research showed that the techno-
logy developed by Cellectis bioresearch,
based on meganuclease-driven targeted
integration, is faster, more practical
and more efficient than traditional
methods in deriving cell-based assays
for HTS studies.
Cellectis l Activity Report 2010 l 7
 Cellectis acquires assets from
September
CytoPulse Sciences Inc.
CytoPulse specializes in the development,
manufacture and marketing of electro-
poration technology and equipment.
Electroporation is a highly efficient way
for molecules such as meganucleases
to be introduced into any type of cell,
with applications ranging from research
and biomanufacturing to agriculture
and therapeutics. “CytoPulse’s assets
are a great strategic acquisition for
Cellectis,” said Cellectis Chief Executive
Officer André Choulika.
“As we announced in 2009, part of
our development strategy is to acquire
technologies that complement our
existing meganuclease platform and can
be leveraged across all aspects of our
business, from research to therapeutics.
We saw such an opportunity in the
technologies at CytoPulse Sciences
Inc. and look forward to unlocking the
value of these assets.”
8 l Cellectis l Activity Report 2010
Cellectis bioresearch announces
September
September
availability of research kits through new
online online-store, provides enhanced
accessibility to meganuclease technology
Cellectis bioresearch announced the
launch of its e-store, with approximately
one hundred ready-to-use products
available for sale online via a new func-
tional and intuitive website to meet the
needs of both academic and industry
research. “The launch of a website with
online purchasing capability was a vital
step in improving researchers’ access
to our meganuclease technology,”
explained Luc Selig, VP Sales and
Marketing at Cellectis bioresearch.
“Our product offering has expanded
rapidly, and we now market over
one hundred different products on
three target markets.”
l l
Cellectis launches its new corporate
October
website - Information sharing, interactivity
and new media space
Visitors to the new website are ensured
enhanced usability and information
sharing, including more streamlined
access to information about Cellectis’
technology and products.
The new Cellectis website focuses on
three central themes: research and
technology, business development and
investor relations.
Cellectis bioresearch announces
October
establishment of subsidiary in the US
Located at the Cambridge Innovation
Center in Cambridge, Massachusetts,
Cellectis bioresearch Inc. will be responsible
for the US-wide promotion of Cellectis
bioresearch products and services.
Cellectis in-licenses induced pluripotent Cellectis grants Harvard Bioscience
December
stem cell technology from iPS a license to CytoPulse electroporation
Academia Japan – First patent license instruments
in the therapeutic field Cellectis and Harvard Apparatus, a division
Cellectis entered into two separate non- of Harvard Bioscience Inc. which develops,
exclusive license agreements granting manufactures and markets a broad
the company worldwide access to the range of tools to advance life science
induced Pluripotent Stem (iPS) cell patent research and regenerative medicine
portfolio arising from the work of worldwide, signed a license agreement
Professor Shinya Yamanaka at the Center that grants Harvard Apparatus the
for iPS Cell Research and Application worldwide exclusive right to manu-
(CiRA) at the University of Kyoto, Japan. facture and market, for research use,
the full line of electroporation-based
Cellectis is the first company in the world instruments acquired by Cellectis
to be licensed by iPS Academia Japan to from CytoPulse in September 2010.
use this patent portfolio for applications
in human therapeutics and prophylactics. Cellectis, however, retains all rights to
In the research tool field, this is the the use of these instruments for its own
first agreement with a French company, research and development programs as
following agreements with US and well as in clinical trials and prophylactic
German companies. or therapeutic procedures, for both
humans and animals.
Cellectis l Activity Report 2010 l 9
 CELLECTIS IN BRIEF
Cellectis improves life by applying its genome engineering
expertise to a broad range of applications, including human
health, bioresearch and agriculture.
The company designs and markets nucleases
or “DNA scissors” such as meganucleases,
innovative tools which enable precise
modification of the genome, as well as
other products arising from this technology.
Cellectis aims to exploit the full potential
of its technology in medicine and other
areas of scientific or industrial exploration.
Since its inception in 1999 by André Choulika,
PhD, and David Sourdive, PhD, Cellectis has
enjoyed exclusive rights to a patent portfolio
owned by the Institut Pasteur. Professor Rodney
Rothstein (Columbia University) chairs its
Scientific Advisory Board, which comprises
internationally renowned scientists.
To date, Cellectis has entered into more than
50 agreements with pharmaceutical labora-
tories, seed producers and biotech companies
CELLECTIS IN BRIEF
10 l Cellectis l Activity Report 2010 l l
worldwide, and has formed more than 20
academic research partnerships.
Since 2007, Cellectis has been listed on the
NYSE-Euronext Alternext market in Paris and
has secured over € 70 million in capital since
its inception. While maintaining its ambitious
growth targets, Cellectis has a very solid
cash balance due to increased revenue from
product sales, meganuclease production,
partnerships and license agreements.
With 10 years of work on meganucleases,
Cellectis has acquired unmatched expertise in
the field of genome engineering. The internal
R&D and meganuclease platform teams have
broad knowledge of the field and the skills
required to select and integrate new tech-
nologies that would prove complementary to
Cellectis’ offering.
Worldwide pioneer in genome engineering
Established in 1999, listed on the NYSE-
Euronext Alternext market in Paris since
2007 (ALCLS)
2010 operating revenues: 15,8 M €
Staff: 129 including 51 PhDs
4 subsidiaries: Cellectis bioresearch,
Cellectis therapeutics, Cellectis plant
sciences, Ectycell
Applications: research and biomanu-
facturing, human health, agricultural
biotechnology, stem cells
Main technologies: genome engineering,
protein engineering (in particular nucleases
or DNA scissors)
IP portfolio: 83 patents granted and more
than 260 patent applications pending
Locations : Paris (France); Saint Paul,
Minnesota and Cambridge, Massachussetts
(USA)
As of December 31, 2010
Cellectis l Activity Report 2010 l 11
Our Core Activity: Genome engineering

The principle of genome engineering is simple: it involves
modifying the genome of an individual or species for the
purposes of understanding the way it works, producing useful
proteins or treating a disease.
Genetics has demonstrated the link between the physical attributes of species and their
genes, and thereby shown how particular genes are implicated in certain diseases or attri-
butes. Genome engineering enables species’ genes to be modified in order to change certain
attributes, to rectify an error, or to add a new trait of physiological or economic interest.
This approach is not new: cross-breeding different plants or selecting the best animals for
reproduction is based on the same principle. The aim is to improve species by giving them
the best possible attributes – drought tolerance or pest resistance for crops, for example.
The targeted approach of genome engineering is predictable, more reliable and more effective
than earlier techniques, and can even be applied to humans. The genomes of over 1,000
organisms have now been decoded. Knowledge of the sequence and location of the genes of
living beings is therefore constantly improving, even though the workings of these genes are
still not fully known. Our understanding in this field allows us to manipulate genes directly.
Meganucleases are natural proteins found in many single-celled organisms. They are highly
specific “DNA scissors”. They are able to recognize their binding site by identifying a nucleic
acid sequence (nucleic acids are the constituents of DNA), which contains between 12 and
over 30 base pairs. This site is statistically unique in a genome. Once the DNA break has been
made, the cell activates its maintenance and repair system (for example, homologous recom-
bination). This system corrects the DNA molecule by using, for example, its twin copy (gene
correction) or a similar fragment specifically introduced into the cell as a model (insertion or
“knock-in”). It is the same principle as the “copy and paste” function in word processing.
When a gene just needs to be inactivated rather than replaced, the broken DNA is bound and
loses information, therefore the targeted gene is inactivated (known as “knock-out”).
Cellectis manufactures meganucleases that can cut precise new sequences, and are thus tailor-
made for genes of interest. The feasibility of meganuclease engineering allows the creation
of a wide range of specific tools to modify the targeted genes. It is the technological vision
upon which Cellectis was founded 11 years ago. This was achieved when the meganuclease
platform was able to produce custom meganuclease specific of any new gene of interest,
with the same characteristics as the wild type ones (efficacy, specificity, …). This expertise in
genome engineering tools production has allowed Cellectis to evolve from a tool producer to
a product-delivering company.

There are three possible strategies to do this:

• Insertion is used to add a new attribute to the genome. For example in drug discovery,
Meganuclease
or in order to overcome a genetic defect like hemophilia.
Chromosome
• Correction is used to replace an existing defective sequence (which generally impacts the
gene’s functions) by a functional sequence. For example, to treat a serious genetic disease
cut
such as Duchenne muscular dystrophy.
• Inactivation is used to prevent the expression of a gene. This approach can be used to treat
persistent viral infections such as AIDS or herpes.
Gene Insertion Gene Inactivation
KNOCK IN GENE REPAIR KNOCK OUT
Our tool: Meganucleases
Compared with earlier technologies, the effective power of genome engineering lies in its
ability to insert the gene of interest in the chosen place. For many years, researchers’ methods
were akin to “playing darts blindfolded”. They would study the effect of randomly inserted
sequences, despite the fact that insertion in the wrong place can have harmful effects: one
gene can be inserted into another and inactivate it, or activate cancer mechanisms. This is Integration matrix repair matrix loss of a few
paste base pairs
where Cellectis has the competitive edge. Its expertise in meganucleases means that it is able paste
to precisely target a specific locus in the genome. Cellectis’ tools give scientists the precision
they were lacking. Homologous Homologous Non Homologous
Recombination Recombination End Joining (NHEJ)

12 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 13

Our Core Activity: Applications
DNA universality makes it
possible for our technology
to be applied to any kind
of species (human, animal,
plant, bacterial, or viral) and
to every gene of interest.
The technology conceived
and mastered by Cellectis
can be used to unlock represents a potential breakthrough in the treatment of these diseases.
or restore the potential of
DNA, opening up a broad
range of applications.
14 l Cellectis l Activity Report 2010
OUR fACILITIES
Human health
Genome engineering is the basis for gene therapy. Often called “genome surgery”, this
type of treatment could be used to cure many genetic diseases, such as sickle cell anemia
(drepanocytosis). Research in this area has been carried out in collaboration with Cellectis at
the Memorial Sloan-Kettering Cancer Center in New York. Inserm, the CNRS, and AFM
(French Association against muscular dystrophy) are also closely involved in Cellectis’ progress
in the therapeutic field. But genome engineering can also be used to fight viruses like herpes.
These pathogens insert their DNA into the DNA of infected cells, meaning that the
immune system is unable to get rid of them permanently. Cellectis’ ability to target very
precise regions of viruses’ genome in order to inactivate them might make it possible
to remove the genetic material of the viruses found in the infected cells. This therefore
Research teams
Agrobiotechnology
Meganucleases can be engineered so that they are specific to any gene of any species of
plant. Cellectis uses its technology and expertise to provide seed producers with mega-
nucleases that can make targeted modifications in plant genomes and to develop the next
generation of high quality crop plants. Today Cellectis is developing partnership agreements
with some of the major players in the agrobiotech sector, so that genome engineering will
be accepted and widely used within this field of application. In 2010, Cellectis created Cellectis
plant sciences, a subsidiary dedicated to genome engineering applications in plants. Its aim
is to increase and accelerate usage of Cellectis’ proprietary technology in agrobiotechnology
and to develop proprietary traits for selected applications.
Research and biomanufacturing
Genome engineering is at the basis of the modern approach to fundamental research in
biology. The entire human genome sequence has been identified, as well as those of more
than a thousand species. However, biologists do not know the entire role of these genes The platform team and its robots
that have been identified. To find out the role of these genes, we can use targeted DNA
modification techniques to suppress or regulate the expression of a precise DNA sequence.
Researchers can therefore understand the role of a gene by studying the effects of its absence
or variations in its expression or its structure. In biomanufacturing, meganuclease applications
have unique competitive advantages in terms of manufacturing processes, reduction in cycle
time and improvements in protein quality. Research kits are marketed by Cellectis bioresearch
allowing meganuclease-driven targeted integration of a gene into various cell lines.
They make it easier for researchers to modify the DNA of species they are studying and
for manufacturers to screen and evaluate their products’ efficiency.
Qpix robot, meganucleases tested on targets Colored test for mutant selection FX robot, DNA production in plates
l l Cellectis l Activity Report 2010 l 15
 ORGANIZATION

Four subsidiaries of Cellectis were created between 2008 and 2010. Their aim is to fully develop
the applications of our technology within their given market sectors. The parent company centralizes
the financial department of the group, the intellectual property, the legal department and other
support functions, as well as the research and development around genome engineering technologies.
The “DNA scissors” platform production will remain the strategic center of the company as a whole
as well as the driving force of the group activity.

Cellectis and its subsidiaries

CELLECTIS IN 2010 Cellectis

Technologies development, protein production platform,
intellectual property, support functions.

Cellectis bioresearch Cellectis therapeutics Cellectis plant sciences Ectycell

Founded in 2008, Cellectis
bioresearch develops and
markets research and
production kits that make
genome engineering
accessible to biological
researchers and companies
worldwide.
It offers turnkey solutions,
enabling biologists to design
their daily work tools with
control and precision,
such as cell lines with the
features of a healthy
or diseased organ or tissue.
Cellectis therapeutics, Established in March 2010, Ectycell was established in
launched in 2008 under Cellectis plant sciences September 2009 to research
the name Cellectis genome is a subsidiary dedicated and commercialize industrial
surgery, is dedicated to the to the applications of uses of stem cells.
development of innovative meganucleases to plants.
therapeutic approaches using Its main mission is to increase The initial goals are to
meganucleases to treat and accelerate usage of develop tools for generating
genetic diseases, cancers and induced pluripotent stem cells
persistent viral infections. Cellectis’ proprietary from adult cells, robust,
Cellectis genome surgery technology in agricultural reproducible differentiation
seeks to treat patients biology, broaden the of stem cells, and cell libraries
suffering from serious diseases company’s platform to for testing drug candidates.
resistant to conventional attract new and expanded
treatment. Its prospective licensing opportunities
therapy targets the very and explore the development
DNA sequence responsible of proprietary traits for
for the disease that may be selected applications.
of congenital origin
(genetic desease) or acquired
(viral infection or cancer).

16 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 17

OUR Science
This achievement resulted from a proper
industrialization of our processes, which
illustrates the overall maturity and adapta-
bility of the organization. This enhanced
production capacity means that Cellectis
can position itself as a supplier of tools
for a very broad spectrum of applications
and products.
But the progress that has been made in
our manufacturing processes should not
Dr. Frédéric Pâques, Chief Scientific Officer overshadow the advances made in the
application of our products. One of the
2010 was a particularly most significant achievements is the use of
our products in genome surgery, which is
productive year in terms of now happening on an unprecedented scale,
the research and advancement with over 15 collaborations with academic
research labs all over the world (HSR-TIGET
of our core technology. One
in Milan, VIB in Leuven, Children Hospital
of our main achievements in Boston, …) producing both in vitro and
was the consolidation of in vivo data. This represents a greater
number of meganucleases used as well as
our production platform in combined to obtain chimeric proteins
a broader variety of application methods,
order to produce a record particularly the cell types that can be
number of meganucleases successfully targeted. Both aspects are
directly linked to the increase in our
(271 in 2010).
manufacturing capacity, which is meeting
the growing needs of our customers,
our partners and our in-house research
and development activities.
18 l Cellectis l Activity Report 2010 l l
In 2010 we used dozens of meganucleases
in immortalized cells, plants, animal models
and stem cells. This broad applicability is
a key feature of the potential of Cellectis
technology. The amount of data gathered
by different teams, both at Cellectis and
elsewhere, is indicative of the robustness
of this technology. Many of these results will
be published throughout 2011.
Finally, our research has enabled us to assess
the challenges that lie ahead, particularly
in 2011 and and it is the therapeutic sector
which holds some of the biggest challenges
for us. Among them, the ability to get our
molecules in sufficient numbers into the
target cells will be a major priority for our
research. Another key priority is ensuring
the safety of this approach, which is directly
linked to the specificity of the meganucleases.
The specificity criteria are the most strictly
applied in therapeutic applications,
and safety most stringently assessed.
Safety and vectorization (or the method
used to insert a meganuclease into a target
cell) are therefore the two key words
for 2011, as we spend the year focusing
wholeheartedly on the applications of
genome engineering – across research
tools, agriculture or medicine.
Dr. Frédéric Pâques
Research and Development
The core activity of Cellectis
internal R&D team is to researchers focuses on the engineering of
engineer meganucleases that
are specific to a chosen DNA
target, i.e. to create “custom”
meganucleases for each gene
of interest.
The teams at Cellectis can identify the
areas responsible for the “DNA scissor”
function within the meganuclease structure,
as well as the areas that correspond to
the recognition of specific DNA sites. Our
researchers are therefore able to modify
the recognition and DNA fixation area so
as to generate new variants that target new
sites in a genome. As a result of this research,
Cellectis now has a large bank of proteins
with over 40,000 motifs that can be
capable of binding to different sequence
combinations of the DNA. describes the different tools used in
In the labs at Cellectis, upstream research
is split into two areas. One team of
proteins – meganucleases in particular –
in order to improve their activity and speci-
ficity, and to increase the sequence space
that can be targeted by these “tailor-made”
meganucleases. The other team focuses
on the activity of meganucleases in cells,
and particularly on improving the efficiency
of gene targeting and its recombination.
This team is also working on new appli-
cations for meganucleases.
In 2010, the R&D group made important
progress, including the identification of
new protein structures with the capability
to be engineered more quickly and
offering new properties. This led to new
meganucleases with optimized usage.
A very complete publication, which
genome engineering and compares their
properties, was published in Current Gene
Therapy by the Cellectis research team at
the end of 2010.
Meganucleases and other Tools for
Targeted Genome Engineering: Perspectives
and Challenges for Gene Therapy
Silva G, Poirot L, Galetto R, Smith J,
Montoya G, Duchateau P, Pâques F.
Curr Gene Ther. 2010, Dec 24
Cellectis l Activity Report 2010 l 19
Production Platform
The scientists identify the protein modules
whose DNA targets match with fragments
from the targeted genome site. Then they
combine the modules to create a new
meganuclease with recognition specificity
for the required gene target. The activity
of each newly created meganuclease is
then tested in a series of functional trials
developed by Cellectis.
All the creation and analysis work is carried
out by the production Platform team, who
create from start to finish all the enzymes
When a project requires a
used and sold by Cellectis. The Platform
different site in the genome to team creates high quality meganucleases
be modified, Cellectis’ teams compliant with the precise specifications of
each Cellectis partner or customer, internal
create a new meganuclease
and external. The Platform team can
from the Omegabase, validate and secure orders by supplying each
a bank of meganucleases customer with a solution that best meets its
needs. Using its array of robots, the Platform
with modified characteristics,
team is able to measure the activity of a
property of Cellectis. vast number of meganucleases. It is actually
able to run up to 1 million tests per week.
These data are then processed, analyzed
and used to design meganucleases that are
appropriate for each project. The Platform
team enables the research departments to
assess their theories in standard production
conditions while following strict procedures
that guarantee full sample traceability and
quality. This work is supported by a bio-
informatics team that supplies essential data
to the research teams, enabling them to
predict the correct structures for developing
effective meganucleases in the shortest
possible time.
20 l Cellectis l Activity Report 2010 l l
By carrying out its research work, the
Platform team is able to expand the
database, enhancing Cellectis’ knowledge
and scientific expertise. 2010 was marked
by a reduction and stabilization in
manufacturing times within the Platform.
This resulted in a significant increase in
our production output, with 271 mega-
nucleases manufactured in 2010 compared
with 99 in 2009.
An article describing the work of Cellectis
on meganucleases and the techniques
used to create and produce new proteins
that can cut new targets was published in
November in the journal Protein Engineering
Design and Selections. This article also
describes the broad range of applications
of meganucleases: development of cell
lines enabling protein expression, modified
plants and animals, therapeutics applications
like gene therapy, or creation of a new
class of antiviral drugs.
The I-CreI meganuclease and its
engineered derivatives: applications from
cell modification to gene therapy
Arnould S, Delenda C, Grizot S,
Desseaux C, Pâques F, Silva GH, Smith J.
Protein Eng Des Sel. 2010, Nov 3
Print: 2011 Jan. 24(1-2) pp27-31
Computational biology
At Cellectis, the mission of the
computational biology team in a protein, and completely relies on the
is to produce engineered
meganucleases using a rational
approach.
New meganucleases are today essentially
produced by a so-called semi-rational
approach: collections of meganuclease
variants are built by randomly modifying
specific areas of the protein, and these
collections are tested by the platform to
identify the mutants with the expected
properties. Striving for a rational approach
aims at determining, with more precision,
which variants are more likely to be
functional in order to generate and test a
smaller number of these variants.
The Cellectis computational biology program
aims to improve Platform performance in
terms of delivery, cost, capacity, sequencing
area and product quality. There has been
regular progress in the last few years and
with the use of innovative new techniques
recently implemented at Cellectis, we can
better address the core performance
improvement aim of computational biology.
Computational design involves using
software based on energy level calculations
availability of structural data (i.e. tridimen-
sional structures of meganucleases bound
to their DNA target). Cellectis established in
2009-2010 a dedicated computational
biology group, in parallel with the set up
of a major structural biology program.
The program is held at the CNIO (Madrid)
in collaboration with Dr Guillermo Montoya.
Exclusive access to a significant amount of Dr. George Silva, head of the computational biology
structural data has been a key factor in the
department
computational biology group gaining a better
understanding of the mechanisms governing
meganuclease/DNA interactions, and
optimizing the molecular modeling process
and gradually replacing the experimental
high-throughput screening method.
An article was published in the scientific
journal Nucleic Acids Research, resulting
from a collaboration between Cellectis and
Dr. Guillermo Montoya’s laboratory at the
CNIO of Madrid. It describes the structure of
a meganuclease bound to its DNA target.
Molecular basis of engineered mega-
nuclease targeting of the endogenous
human RAG1 locus.
Muñoz IG, Prieto J, Subramanian S,
Coloma J, Redondo P, Villate M, Merino N,
Marenchino M, D’Abramo M, Gervasio FL,
Grizot S, Daboussi F, Smith J, Chion-Sotinel I,
Pâques F, Duchateau P, Alibés A, Stricher F,
Serrano L, Blanco FJ, Montoya G.
Nucleic Acids Res. 2010, Sep 16
Print: 2011; 39;729-743
Cellectis l Activity Report 2010 l 21
Business Development
Dr. Dirk Pollet, Chief Business Officer
The aim of the Business
Development team is • To pro-actively transfer its technology to
to commercialize Cellectis’
intellectual property and for research purposes.
to acquire other companies’
IP that would support the
development of new
technologies or products.
Cellectis’ innovative intellectual
property has a broad range
of applications such as Dermavax for transdermal DNA vaccination,
health, agriculture or research
regarding stem cells and
alternative energies. The
Business Development team is
also in charge of the business
contracts with our partners.
22 l Cellectis l Activity Report 2010
The Business Development strategy
comprises five main areas, which will
help Cellectis advance its leadership
in genome engineering.
These are:
• To give priority to meganucleases for
therapeutic applications in order to treat
rare genetic diseases and viral infections,
and to develop new products to fight cancer
or to improve allogeneic transplantation
(transplant between two genetically
different persons).
major academic and industrial laboratories significant income from licensing of
• To enter into business agreements in its of partnerships to develop innovative
four main fields of application: healthcare, products in multiple fields.
biotechnology, agricultural biotechnology, ranging from research and biomanufacturing
and stem cells.
• To strengthen privileged partnerships
established with some of the major players
in agricultural biotechnology.
• And to sustain Cellectis’ competitive
advantage by continuing to enhance its
patent portfolio and by increasing its
technological lead and expertise in order
to bring value to the portfolio.
l l
From a Business Development perspective,
2010 initiated a shift in focus from
outlicensing of intellectual property
towards generating income from products
developed using such intellectual property.
Whereas the main source of revenue
remained licenses to homologous recom-
bination patents, the incorporation and
expansion of Cellectis plant sciences, with Bayer HealthCare to use
the expansion of the stem cell activities ments for its own research and development
in Ectycell thanks to the Shinya Yamanaka
iPS license, and the acquisition of
the CytoPulse electroporation technology
will form the cornerstones of products
based on Cellectis genome engineering
technologies. This trend will continue
through 2011 where Cellectis expects
its intellectual property portfolio, but also
expects to sign an increasing number
Dr. Dirk Pollet, Chief Business Officer
In 2010, Cellectis entered
into a license agreement with
Boehringer Ingelheim to obtain,
breed and utilize animal models
for pharmaceutical research
throughout Europe, as well as
its homologous recombination
patents. BASF plant sciences
has also broadened its collabo-
ration with Cellectis to utilize
its custom meganucleases.
Acquisition of assets from CytoPulse Inc.
Electroporation is a very efficient way of
inserting molecules such as meganucleases
into any type of cell and has applications
to agriculture and therapeutics.
Through this transaction, Cellectis acquired
three other technologies based on elec-
troporation and developed by CytoPulse:
Oncovet for veterinary vaccination appli-
cations, and Hybrimmune to manufacture
hybridomas for monoclonal antibodies
production. The transaction was finalized
on September 2, 2010, for $2.2 M.
Harvard Apparatus granted license
agreement
This agreement granted Harvard Apparatus
the worldwide exclusive right to manufacture
and market, for research use, the full line of
electroporation-based instruments that
Cellectis acquired from CytoPulse.
Cellectis retains all rights to use these instru-
programs as well as in clinical trials and pro-
phylactic or therapeutic procedures, for both
humans and animals. Under the agreement,
Cellectis will receive a payment of $1.3 M
from Harvard Apparatus. Cellectis will also
continue to receive annual licensing fees
from some of its customers.
License to use Evrogen fluorescent
proteins
This non-exclusive agreement with Evrogen
(Moscow, Russia) has allowed Cellectis
bioresearch to incorporate these proteins
into its own products and thus expand its
range of genome engineering tools.
The integration matrix is one of the key com-
ponents of the Cellectis bioresearch kits. It
is this matrix that allows the user to express
a gene of interest. By extending the choice
of promoters and tags in these matrices,
Cellectis bioresearch can offer its customers
a full range of methods to achieve single-
phase developments, thus saving valuable
time during experiments.
Agreement with Lonza for modification
of bioengineered cell line
Cellectis bioresearch will use its mega-
nucleases to inactivate (“knock-out”) the
glutamine synthetase (GS) gene in CHOK1SV,
Lonza’s proprietary host cell line. Lonza is
world leader in therapeutic proteins produc-
tion. Its ability to control production of the
highest quality cell lines makes the company
a perfect partner for the application of
Cellectis technology and its meganucleases.
“We are delighted to be work-
ing with Cellectis bioresearch.
This collaboration makes sense
and will enhance our long-
standing and successful GS
technology.”
John Birch, CSO of Lonza Biopharmaceuticals
License agreement with Midwest
Oilseeds for plant transformation
This agreement enables Cellectis plant
sciences to use Midwest Oilseeds’ Aerosol
Beam Injector (ABI) technology for the
targeted modification of plant genomes.
The Midwest Oilseeds ABI technology
enables functional meganucleases to be
delivered directly into plant cells, thus avoid-
ing the need for DNA vectors. This approach
will allow Cellectis plant sciences to modify
plant genomes without integrating DNA in
the plant.
Cellectis l Activity Report 2010 l 23
Corporate Development
Dr. David Sourdive, EVP Corporate Development
The aim of the Corporate
Development team for 2010
was to set into action the materialized by giving them the necessary
opportunities available to us
in the field of stem cells by
establishing a cell platform
for population leading to
two different applications:
research tools and cell therapy
(transplants).
24 l Cellectis l Activity Report 2010
The aim is to organize a collection of cells
that represent the physiology, pathology
and diversity of a population so that we can
understand this diversity in vitro. The initial
purpose is to utilize stem cells to improve
understanding of diseases and their mecha-
nisms. If we can collect cell samples from
donors who have these diseases, and have
access to their medical files, it will then be
possible to study the disease via the induced
Pluripotent Stem (iPS) cells generated from
the patient’s cells.
The CellMill platform project was therefore
set up primarily to industrialize iPS cells and
make them both robust and safe. 2010
enabled us to ensure that all our projects
resources. The CellMill project received
a funding commitment from the regional
authorities, the Caisse des dépôts et
consignations (Bank for Official Deposits)
and OSEO, a public enterprise whose
aim is to fund and support innovation and
company growth.
In addition, two non-exclusive license agree-
ments have given Cellectis worldwide access
to the induced Pluripotent Stem (iPS) cell
patent portfolio arising from the work of
Professor Shinya Yamanaka at the Center for
iPS Cell Research and Application (CiRA) at
the University of Kyoto (Japan). Cellectis is
the first company in the world to be licensed
by iPS Academia Japan under this iPS cell
patent portfolio for human therapeutics and
prophylactics.
l l
Cellectis has also entered into a collabora-
tion with CiRA to combine Cellectis’ genome
engineering technologies with CiRA’s iPS cell
technology to improve the natural character-
istics of iPS cells for use as cellular tools.
“We are starting 2011 with
the essential keys for success.
It is now up to us to ensure
that our projects reach their
full potential.”
Dr. David Sourdive
Meganucleases offer new
possibilities for establishing well suited to help optimize these traits and
a viable alternative to oil.
Microalgae are actually
thought to be a very promising
source of alternative to another need, such as food supply. Algae
oil derivative: fuel, chemical
molecules or materials.
This is partly due to their
strong ability to produce
oils and their growth and
effective yield rate.
Focus on oil substitute
Our meganuclease technology would be
enable an industrialization of the processes.
As a natural source, algae alone are currently
thought to be able to meet the demand
for fuel effectively without competing with
also use the process of photosynthesis and
therefore need light, water and CO2, making
them an environmentally friendly fuel.
Dr. Alberto Amato, project leader, genome engineering
It was for these reasons that, in 2010, on algae
Cellectis set up a research team to focus on
micro-algae, and diatoms in particular, as a
possible substitute for oil. Diatoms already
play an important role in the environment
because they produce one-fifth of all oxygen
produced on earth every year. Diatoms
are unicellular algae found in most humid
environments and offer huge diversity, with
100,000 species already identified.
A preliminary program was therefore set
up at Cellectis in order to provide proof of
principle as soon as possible, particularly
Different kinds of diatoms
regarding the potential of meganuclease
efficiency in these algae.
Cellectis l Activity Report 2010 l 25
Intellectual Property
The Intellectual Property Team
One of Cellectis’ foremost
assets is its intellectual property
portfolio. The Institut Pasteur
patent families covering the use
of homologous recombination
and meganuclease-type to its intellectual property portfolio. Thanks
endonucleases for inducing
DNA recombination formed
the platform upon which
Cellectis was initially founded.
26 l Cellectis l Activity Report 2010
We have since developed a strong propri-
etary portfolio, with patents across three
broad categories – general principles,
meganucleases and their specific appli-
cations, and manufacturing processes of
modified meganucleases. Our strategy
involves expanding the intellectual property
100
portfolio to further protect our products,
their applications, and the corresponding
body of technological knowledge.
At the end of 2010, Cellectis owned the
rights to 83 patents worldwide, including 35
in the United States and Canada. This means
that 25 new patents were obtained over the
course of the year. Cellectis currently has
more than 260 patent applications pending.
In 2010, Cellectis bought all the assets of
CytoPulse Inc., a company that specializes
in electroporation systems, and through this
operation obtained 16 new patents to add
to these new patents, Cellectis will receive a
regular income (>$600,000 in 2009), derived
from the granting of exploitation licenses
for CytoPulse’s HybrimuneTM electrofusion
technology.
The company strives to optimize and uphold
the intellectual property it licensed from the
Institut Pasteur. Cellectis also endeavors to
promote its intellectual property by defend-
ing its own rights, while respecting the rights
of others.
l l
Human Resources – Communications
With a headcount that has The policy at Cellectis involves enabling our The new Cellectis website focuses on three
Evolution of Cellectis’ IP portfolio staff to evolve as the company does so. central themes:
grown from 5 in 2000 to 129 Reflective of their passion and determination
Number of patents granted to Cellectis, per year
and geographic area at the end of 2010, the key to see Cellectis become a major player in • Research and technology
word in our company is clearly biotechnology, some of the previous project • Business development
leaders are now at the head of a department • Investor relations
“development,” in terms and some laboratory technicians have taken
80 of our employees and their up engineering assistant functions. In addition to these focus areas, the website
talents, as well as our core offers new features and fresh content including:
60 Moreover, Cellectis provides support for
technology. those individuals who would like to further • Several specific RSS feeds, so that
40
their education in engineering. subscribers can monitor the Company’s
business in real time, choosing only the
20
These dynamics help us attract new talent subjects that interest them.
0 to Cellectis, unify current staff and establish
a genuine company identity in the midst • Information sharing via social networks
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
of continuous growth and development. (particularly Facebook and Twitter).
US/CA Europe Asia Australia Cellectis is proud of its team spirit and intends
to expand all its energy to maintain it. • Downloadable documents that explain
Cellectis’ technology.
Team building is also achieved through
seminars and other regular in-house events • Illustrative videos and regular features on
that are organized by the Communications various aspects of Cellectis’ technology
Department. The department is also respon- to help improve the public’s understanding
sible for promoting Cellectis’ technology of our scientific progress.
and expertise. One of the main tools set up
by the Communications Department in
2010 was the new corporate website with
several key features: information sharing,
interactivity and a dedicated media area.
In light of its expansion, Cellectis chose to
provide visitors to the website with clearer
and more accessible insight into its work,
products and achievements. Visitors to the
new website are ensured enhanced usability
and information sharing, including more
streamlined access to information about
Cellectis’ technologies and products.
Cellectis l Activity Report 2010 l 27

Ectycell Team
“My position in the IT group
is central to the business
and involves working closely
with all the staff at Cellectis.
I’m glad I can help them
progress their research.”
Sandra Lapèze, Network and System Technician
“I chose to work at Cellectis
because it is a well-known,
growing biotech in France
that is developing innovative
technologies with the objective
of becoming the leader
in genome engineering.”
Julien Pontin, Senior Lab technician
28 l Cellectis l Activity Report 2010
Shareholder relations
“Cellectis is a dynamic Event: first R&D Day
On November 30, 2010, Cellectis held its
company in which team Cellectis’ staff
first Research & Development Day, to which
spirit and strong motivation Breakdown by categories
it invited investors, analysts and the media.
are the driving forces that This event, intended to be the first in a series,
was a chance for Cellectis to forge stronger
lead us further every day ties with the investment community, get to
in pursuing innovative 25% know these individuals better, and exchange
and fascinating matters.” ideas. The guests gained a more in-depth
Christelle Rochon, Researcher in Cellular and Molecular
4% understanding of the business activities
Biology at Ectycell of Cellectis and its subsidiaries with a tour of
the premises, in particular the laboratories,
“Cellectis is a hub of during which they met the teams that have
71% made Cellectis the company it is today and
innovation in which represent the values it upholds.
communication among
Following a tour of its proprietary technology
teams and between
facility that creates, produces and tests
departments flows actively. Scientific Departments (SD) meganucleases, members of the Cellectis
Business Development
Working with teams Administration Letters to shareholders management and scientific teams detailed
the activities within its core business areas:
that are highly skilled and It is very important for Cellectis to forge
meganuclease engineering technology,
open is a very rewarding Breakdown by subsidiaries
Total: 129 (including 4 in the USA and 2 in the UK)
closer links with its shareholders and this
research tools, genome engineering in plants,
is why the Letter to Shareholders project
personal and professional was initiated in 2010. This is a quarterly
and therapeutic programs. Laboratories tour
experience for me.” letter addressed solely to shareholders that
Dr Serge Braun, from the French Muscular The Cellectis Communications team also
Justin Eyquem, Trainee Engineering preparing summarizes and comments on all the latest
manages everything that relates to the
Dystrophy Association (AFM), gave an
his thesis at Cellectis therapeutics news. It offers a way for Cellectis CEO André
update on his organization’s collaboration publication of yearly and half-yearly financial
Choulika to maintain direct and regular
contact and thus build a lasting and trust-
with Cellectis in therapeutics. To conclude results, and organizes the general assemblies
the event, the potential applications of which are chaired by Christian Policard,
based relationship between Cellectis and its
Chairman of the Board of Directors, and
induced pluripotent stem cell (iPS) techno-
shareholders. Each Letter to Shareholders
logies, for which Cellectis recently signed a attended by all the Cellectis shareholders.
also has a “3 Questions” interview with one
of the key people at Cellectis on a topic of
license agreement with iPS Academia Japan,
were also described. All the information about the general
particular relevance to the company at the
assemblies is available in the Investors area
Cellectis 71% SD time of issue. There is also a ‘Focus’ on one
Cellectis bioresearch 71% SD The presentations are available at on the Cellectis website www.cellectis.com.
of our constantly-evolving activities.
Cellectis therapeutics* 100% SD www.cellectis.com/investors.
Cellectis plant sciences 100% SD
Ectycell 100% SD
*ex genome surgery
l l Cellectis l Activity Report 2010 l 29
 Cellectis bioresearch

2010 Highlights
2010 was for Cellectis bioresearch a year of consolidation in terms of research and develop-
ment, such that we are now able to market over 150 products. We are particularly pleased
with this growth, given that we only launched our first kit in December 2008 following the
creation of Cellectis bioresearch in June of that year. We are able to supply a large number
of new products, illustrating a very diverse offering. In 2010, we have adapted our products to
a variety of cell lines, evidence of the efficiency by which we bring new products to market.
We also adopted a new marketing strategy to increase our visibility and rapidly come to
competition with the main global players in research. This involved both traditional advertising
in the press and on the web, as well as attendance at some 20 trade shows, but also more
original marketing methods: an interactive web platform aimed at the scientific community
engaged in using new genomics-related techniques1 and a competition to provide financing
for a post-doctoral position involving a project including genome customization. From a
business perspective, the results were very encouraging since we more than doubled our
operating revenues. We also integrated the market share of CytoPulse, an American company

SUBSIDIARIES whose assets we acquired. This included a complete range of electroporation instruments
already commercialized, as well as the related intellectual property. Cellectis bioresearch’s 2010
operating revenues met the targets and expectations set. In the current economic climate,
this is something we can be very proud of. Our success is due to our talented team,
which now includes 20 employees, two-thirds in R&D and one-third in sales and marketing. Marc Le Bozec, Chief Financial Officer of Cellectis and
Chief Executive Officer of Cellectis bioresearch

Challenges for 2011

During the coming year, we will focus on three main areas to achieve our goal of providing
our customers with thousands of products. The first area is technology. Whereas we currently
supply mainly targeted integration tools, our aim is to supply both targeted modification and
inactivation solutions also. The second area is to expand our product line in other species, such
as plants like Arabidopsis thaliana, a widely-used plant model, or other key animal models,
such as nematode C. elegans. In 2011 these key models are to undergo NHEJ (Non Homo-
logous End Joining) meganuclease or TALEN (Transcription Activator-Like Effector Nuclease)
testing, once this new technology is fully implemented on our platform. The third area of focus
will be to expand our field of applications to the ADMET (Absorption, Distribution, Metabo-
lism, Excretion and Toxicity) test to supply a cell line for cancer research, closer to the patient’s
physiological reality. More generally, we aim to maintain our growth and to achieve short-term
profitability while we deploy a field sales force in Europe and the United States. It was with
this in mind that the American subsidiary Cellectis bioresearch Inc. was set up in October
2010. Our aim for 2011 is to set up teams in the United States and Europe, to put us on an
equal footing with our competitors. The next two years will be decisive as they will determine 1
www.genome-engineering.com
the type of profitability we can expect to achieve.

Marc Le Bozec, CEO of Cellectis bioresearch

30 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 31

 Cellectis bioresearch supplies researchers in the life sciences with
easy and ready-to-use tools for creating cells and organisms that
have the desired performance.
Cellectis bioresearch develops and markets genome customization products that can be used
cGPS
cGPS®® cGPS®®
to create stable and isogenic cell lines, with characteristics and performances adapted to three Custom
Custom
main markets: drug development, gene function studies and protein production.
Integration of a natural Meganuclease Meganuclease
recognition site engineering
cGPS and cGPS Custom kits
® ®

These kits are an easy and efficient way of using Cellectis’ meganuclease technologies.
With the kits, a gene can be integrated into an extremely precise site in the genome.

“The challenge is to replace At the end of 2010, Cellectis bioresearch was supplying over 150 products via its online
traditional cell engineering shop and international distribution network (India and Canada). The company Cellectis
methods based on random bioresearch Inc. was recently set up in Cambridge, Massachusetts (United States) to
promote the company’s products and cell line engineering services throughout America.
modification with targeted Wild type
DNA Repair
Engineered
DNA Repair
Meganuclease Meganuclease
integration.” The genome customization kits contain reagents and protocols that enable precise and
Marc Le Bozec targeted modification of DNA sequences in the genome of interest, of whether a cell line,
a primary cell, a stem cell or an entire organism.

Targeted integration involves a “copy and paste” process that is performed by a

meganuclease, an integration matrix and the homologous recombination process. A study showed that Cellectis bioresearch’s technology based on meganuclease-driven
targeted integration is faster, more reliable and more efficient than traditional methods in Meganuclease-Driven Targeted Integration
Cellectis bioresearch’s targeted integration kits are easy and ready-to-use, and include deriving cell-based assays for High Throughput Screening (HTS) studies, which allow rapid in CHO-K1 Cells for the Fast Generation of
HTS-Compatible Cell-Based Assays
a complete protocol. Each kit contains all the components that are needed for targeted screening of a vast number Cabaniols J, Ouvry C, Lamamy V, Fery I,
integration: a wild-type or engineered meganuclease, an integration matrix, and, in of new molecules. Meganuclease-driven targeted integration using Cellectis Craplet M.L, Moulharat N, Guenin S.P,
Bedut S, Nosjean O, Ferry G, Devavry S,
cGPS® kits a cell line. bioresearch’s cGPS®CHO-K1 kit is therefore highly efficient for drug development. Jacqmarcq C, Lebuhotel C, Mathis L,
Delenda C, Boutin J.A, Duchâteau P,
Cogé F, and Pâques F
The ‘research kits’ line now includes five new cell types, and the product offering includes The results of this scientific study focusing on a unique method for generating stable cell J. Biomol. Screen. Sept 2010 - vol 15 no 8
a pIM Store, a collection of around 100 integration matrices that can be used with different lines compatible with high throughput screening were published online July 12, 2010 by the p. 956-967
kits. In 2010, Cellectis bioresearch launched its first customized service to deliver stable Journal of Biomolecular Screening.
clones by cGPS targeted integration. 2010 also saw a major R&D partnership with Lonza, a
world leader in biotechnology manufacturing with the aim of modifying Lonza’s proprietary
cell line CHOK1SV used to produce biotechnological drugs.

32 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 33

Cellectis plant sciences
Between now and the year 2050, the world’s population will
grow from approximately 6 billion to more than 9 billion people.
This increase in population size, coupled with a changing
climate and increasingly limited resources for agriculture, will
place enormous strains on our planet’s collective ability to provide
the food, fuel and fiber necessary to sustain humankind.
One bright spot on this otherwise troublesome scenario is the promise of new technologies.
Genome engineering, in particular, will provide new crop plants with traits that can meet
the demands placed on agriculture in the coming decades.
Created in March 2010, Cellectis plant sciences is a subsidiary dedicated to applying
sequence-specific nucleases for plants to develop new species with traits of value. The
company’s main goals are to increase and accelerate use of Cellectis’ proprietary techno-
logy in agricultural biotechnology, to broaden the company’s expertise to attract new and
expanded licensing opportunities, and to explore the development of proprietary traits.
Cellectis plant sciences is directed by a world-class scientific team. The company’s scientists
were the first to implement genome engineering in plants. Among the team members is
the subsidiary Chief Scientific Officer, Daniel Voytas, who is internationally renowned for
his work on plant genome engineering. Dr. Voytas is also a professor at the University of
Minnesota where he heads the Center for Genome Engineering. Dr. Feng Zhang serves
as the subsidiary Director of Research, and he has extensive experience in maize, rice and
Arabidopsis genome modification. In addition, the company is staffed by two PhD-level
scientists and two research associates.
In its first year of operation, Cellectis plant sciences demonstrated efficient modification
of plant genes by engineered meganucleases. Luc Mathis, Programs and Business Deve-
lopment Director, highlighted that within months of its inception, Cellectis plant sciences
obtained proof-of-concept data. These results demonstrate that meganucleases have similar
capacities in plant cells as previously shown in human cells. From this strong data, Cellectis
plant sciences is now focusing on its commercial aims: to deliver products, services and
licenses for the agriculture industry as well as to build a portfolio of agricultural traits in its
field of expertise – targeted mutagenesis in selected plant species.
34 l Cellectis l Activity Report 2010 l l
The near-term goal of Cellectis plant sciences is to move away from model plants (Arabi-
dopsis and tobacco) and to apply its technology to commercial plant species. The Cellectis
plant sciences team already has expertise in transforming corn, rice and soybean, and these
skills will be essential in deploying the next phase of the company.
It has to be taken into account that the regulatory process required to release genetically
modified plants into the environment is very expensive. As Cellectis plant sciences scientific
team implements its genome engineering strategies, they ensure that only minimal
changes are made to the plant’s genome. It is hoped that plant genomes modified with
this kind of precision will be better accepted in the marketplace.
Pr. Daniel Voytas, Chief Scientific Officer of
Professor Voytas has been with Cellectis plant sciences as Chief Scientific Officer since Cellectis plant sciences
the company was set up. He is a professor in the Department of Genetics, Cell Biology
and Development, and Director of the Center for Genome Engineering at the University “This is a very exciting time in
of Minnesota in Minneapolis. Specializing in molecular biology and genetics, Pr. Voytas’ plant biology, and our recent
research focuses on plant genome modification using nucleases that can recognize
advances in genome engineering
specific DNA sequences.
mark a new era. It is stimulating
He is an elected Fellow of the American Association for the Advancement of Science. to be involved in a company
He is an Associate Editor for the journal Genetics and Editor-in-Chief for the journal
that can have such a direct
Mobile DNA. He is the co-founder of the Zinc Finger Consortium, a group of scientists
dedicated to promoting applications of zinc finger proteins for genome modification. impact on human lives and the
He has authored or co-authored dozens of scientific papers in the field of genome well-being of the planet.”
engineering in plant species. Pr. Daniel Voytas
Cellectis l Activity Report 2010 l 35
Ectycell
“Ectycell is responsible for
spreading Cellectis’ genome
engineering technologies onto
the stem cell field in order to
transform these cells into true
manufacturing tools that Japan. The two separate non-exclusive agreements grant Cellectis worldwide access
are robust, reproducible and
usable in high throughput
experiments.”
David Sourdive, CEO of Ectycell
36 l Cellectis l Activity Report 2010
Ectycell was established in September 2009 to apply the Ectycell was founded on the fact that developing early-stage high throughput screening
benefits of Cellectis’ core technologies to developments
within the field of stem cells, especially induced pluripotent
stem (iPS) cells.
This subsidiary will utilize these technologies to transform stem cells into true develop-
ment and manufacturing tools that will be novel, robust, reproducible and usable in high
throughput experiments.
Ectycell has a number of research initiatives underway that take advantage of the benefits
of meganucleases for genomic engineering. These programs include:
• Development of ‘Clean iPS Cells’ by generating iPS cells from adult cells using targeted
integration and excision of reprogramming factors, which will circumvent the necessity to
use random viral integration methods for iPS cell production.
• Development of novel and reproducible methods for cellular differentiation from iPS cells
using targeted genome engineering technologies.
• Development of robust methodologies and processes for large scale production of iPS
and differentiated cells
• Creation of iPS based cell libraries that will be ideally suited to high throughput drug
screening applications.
In October, Cellectis in-licensed induced Pluripotent Stem Cell Technology from iPS Academia
to the induced Pluripotent Stem (iPS) cells patent portfolio arising from the work of
Professor Shinya Yamanaka at the Center for iPS Cell Research and Application (CiRA)
of the University of Kyoto, Japan.
Professor Yamanaka and his colleagues pioneered this groundbreaking work and Cellectis
is the first company worldwide to be licensed by iPS Academia Japan under this iPS cell
patent portfolio for human therapeutics and prophylactics.
l l
assays that better predict a molecule’s effect on the organism as a whole or on a geneti-
cally diverse population could significantly reduce the high attrition rate currently observed
during drug development. Advances under development at Ectycell may also open new
opportunities in therapeutics, including regenerative medicine.
What is an induced Pluripotent Stem cell?
An induced pluripotent Stem cell (or iPS cell) is an adult cell that has been reprogrammed
to behave like an embryonic Stem cell (or ES cell).
When an ovum is fertilized, the egg divides, and within a short space of time cells are
formed that have the potential to develop into all the tissues of the body. These cells are
called embryonic stem cells and are known as pluripotent cells. Pluripotency is the ability
to generate all different cell types. How to make an iPS
4 genes
As they mature, ES cells gradually lose their differentiation potential and develop a
functional specialization. For example, a lymphocyte will tackle infections, whereas a
pancreatic cell will be capable of producing insulin – for the rest of its life.
Until recently, it was believed to be impossible for a cell to return to a state of immaturity
and recover its differentiation potential. In 2006, the team of Professor Shinya Yamanaka
at Kyoto University demonstrated that it is possible to reprogram a mature adult cell to give
it back the properties of an embryonic stem cell. In order for this adult cell to return to a
Adult cell
state of immaturity and be able to differentiate into all cell types, you just need it to express
four genes (not normally expressed in adult cells). These cells are termed induced pluripo-
tent stem cells, or iPS cells.
Pluripotent stem cells
precisely required cell types like ...
... Nerve cells ... Blood cells ... Cardiac cells
Cellectis l Activity Report 2010 l 37
Cellectis therapeutics
“2010 was a year of intensive
learning for both the Cellectis
therapeutics teams and the
partners and organizations in
the medical biotechnology field
with whom we collaborated.
Alongside the first proofs of
concept, we often pioneered
technology use, production and
validation.”
Sylvain Arnould, PhD, preclinical project leader
at Cellectis therapeutics
38 l Cellectis l Activity Report 2010
Cellectis therapeutics, launched in 2008 under the name Cellectis 2010 was a turning point for Cellectis therapeutics, which
genome surgery, focuses on the development of innovative obtained very promising results, particularly in terms of proof of
therapeutic approaches that use meganucleases to treat genetic concept on the antiviral activity of meganucleases*.
diseases (such as muscular dystrophies and hemophilias…), cancers During the year, we also made significant progress in our cell
and persistent viral infections (herpes keratitis, AIDS). therapy programs.
This subsidiary has a team of 19, including 10 PhDs, and endeavors to find innovative Indeed, our team has been able to identify good targets for the so-called “Safe Harbor”
treatments to treat patients with serious conditions that are resistant to conventional approach. This approach consists in defining a site in a genome that allows the insertion of
therapy. Cellectis therapeutics’ aim is to fulfill unmet medical needs. The treatment a new gene, which might be expressed without interfering with the cell functions.
Dr. Carole Desseaux, Director of operations at
paradigm involves targeting the DNA sequence that causes the disease, which may be Cellectis therapeutics
innate (genetic disease) or acquired (viral infection, cancers). We also implemented an effective non-viral vectorization approach using the electro-
poration system obtained from the takeover of CytoPulse’s assets. In addition, we
The genome surgery approach aims to fight the cause of a particular disease and cure obtained very good preliminary results in homologous recombination in primary cells,
“Meganucleases can
the patient, rather than merely treat symptoms. Since its inception, Cellectis therapeutics which prepare the ground for our cell therapy development.
has worked together with its partners – academic research groups and clinicians all over resolve the issue of random
the world (including Children Hospital Boston, Institut de la Vision, Genomic Vision, CNRS, In gene therapy, the results obtained by our Canadian partners on Duchenne muscular integration. The precision
INSERM, and many others) – to transform its research into effective medical treatments. dystrophy* offers a good example of the energy put in our therapeutic research on
of the Cellectis technology
meganucleases by our academic partners.
Current clinical trials means that the new
After Cellectis’ buyout of the assets of CytoPulse in September 2010, the company decided In conclusion, our work in 2010 enabled us to obtain proofs of concept and confirm gene can be delivered at
to pursue the partnership program that had been set up by CytoPulse for the use of electro- our scientific and regulatory strategy. We start 2011 with the aim of obtaining proofs of
a predetermined and safe
porators for vaccination. CytoPulse’s electroporation technology is particularly effective for principle for these results on key pathologies such as hemophilia*.
location. We have high
integrating molecules such as meganucleases into any kind of cell.
Dr. Carole Desseaux hopes that one day this
Cellectis supplies the Dermavax intradermal electroporation equipment to laboratories research will lead to
carrying out clinical trials requiring this kind of equipment. Dermavax is a system that
effective and life-enhancing
applies an electric field to facilitate the integration of small fragments of DNA into cells,
thereby potentializing the effect of DNA vaccines by stimulating the immune response. therapies for hemophilia
patients.”
Although Dermavax was originally developed for cancer vaccine treatments, it is also
Dr. Thierry VandenDriessche and Dr. Marinee
being tested today as a prophylactic approach on HIV infections. Three clinical trials are
being conducted at the Karolinska Institute and at the Cancer Center in Stockholm,
Chuah, VIB Vesalius Research Center at the
Catholic University of Leuven (Belgium)
in the laboratories headed by Professors Britta Wahren and Eric Sandström, as well as at
Uppsala University by Professor Totterman and Doctor Yachnin.
* more information next page
l l Cellectis l Activity Report 2010 l 39

Publications
Herpes virus
Meganuclease-mediated Inhibition of
HSV1 Infection in Cultured Cells
Grosse S, Huot N, Mahiet C, Arnould S,
Barradeau S, Clerre DL, Chion-Sotinel I,
Jacqmarcq C, Chapellier B, Ergani A,
Desseaux C, Cédrone F, Conseiller E,
Pâques F, Labetoulle M, Smith J.
Molecular Therapy. 2011 Jan 11.
Duchenne muscular dystrophy
Meganucleases can restore the reading
frame of a mutated dystrophin
Chapdelaine P, Pichavant C, Rousseau J,
Pâques F and Tremblay J.P
Gene Therapy (2010) 17, 846–858;
40 l Cellectis l Activity Report 2010
Herpes virus
Scientists from Cellectis therapeutics, the French National Center for Medical Research
(CNRS), and Institut de la Vision (Paris) have used Cellectis’ proprietary meganucleases to
successfully prevent infection of cultured cells by a herpes virus (HSV-1). The research was
published in the journal Molecular Therapy. These are the first proof of concept datas to
show that meganucleases can prevent viral infection. The article describes how scientists
used specific meganucleases engineered by Cellectis to prevent the infection of human
cultured cells by HSV-1.
Subsequent analysis of the treated cells by sequencing showed that the viral DNA had
successfully been clipped by the meganuclease, and therefore lost its capacity to replicate
and spread.
Duchenne muscular dystrophy
Researchers at the Laval University Hospital Center in Quebec (Canada) used mega-
nucleases engineered by Cellectis to restore the expression of microdystrophin in human
myoblasts in vitro and in human cells in vivo. They were therefore able to show the
potential of using meganucleases to treat Duchenne muscular dystrophy. These new
findings were published in the scientific journal Gene Therapy.
Gene therapy for treating hemophilia
The life sciences research institute VIB and Cellectis are collaborating on research into new
approaches to treat hemophilia. They are using meganucleases to replace faulty blood
clotting factor genes with functional copies. Hemophilia is a group of hereditary, recessive,
X-linked genetic disorders that impair the body’s ability to control blood clotting or
coagulation. Hemophilia patients suffer to various degrees from uncontrolled internal or
external bleeding if a blood vessel is broken. In areas such as the brain or inside joints,
this bleeding can be fatal or permanently debilitating. Financial Statements
l l Cellectis l Activity Report 2010 l 41
Financial statements

Assets Equity and Liabilities

Figures in thousands of euros December 31 2010 December 31 2009 Figures in thousands of euros December 31 2010 December 31 2009
Note:
Net intangible assets 3 976 903 Share capital 584 582
Since 2010, the company has endeavored to
improve the quality of its financial reporting by Net tangible assets 3 913 2 893 Share premium and reserves 45 170 52 404
publishing complete accounts in line with IFRS
standards. Non-current financial assets 231 231 Net income/loss (8 063) (7 768)

This process is an ongoing one, requiring further Deferred tax assets 8 169 5 133 Equity 37 691 45 218
restatements, particularly those concerning
revenue recognition, leasing contracts, deferred Total non-current assets 16 289 9 160 Retirement benefit obligation 120 42
tax assets and the capitalization of certain
development expenses. The figures presented
Inventories 153 118 Borrowings 809 491
here therefore include all the restatements
Trade receivables 2 491 1 768 Other financial liabilities 588 795
required by IFRS standards, but at the time of
publishing this report, the consolidated accounts
Research tax credit and subsidies 6 588 1 570 Provisions 50 71
were still being reviewed by the statutory auditors.
Other current assets 2 486 2 465 Total non current liabilities 1 567 1 399

Cash and cash equivalents 24 048 45 080 Borrowings 560 748

Total current assets 35 766 51 001 Other financial liabilities 257 107

TOTAL ASSETS 52 055 60 161 Trade accounts payable 8 464 6 548

Deferred income 3 516 6 141

Intangible assets at December 31, 2010 included € 2.4 M of development expenses and Total current liabilities 12 797 13 544
€ 1.5 million for patents licensed. Research and development expenses concerning kits and
TOTAL EQUITY AND LIABILITIES 52 055 60 161
plant activities are included under assets for the first time in 2010, which differs from
fiscal year 2009. This is a result of the growth of both activities which now generate recur-
rent revenues. The total of patent assets significantly increased as a result of the acquisition of Tangible assets mainly consisted of laboratory equipment.
CytoPulse, Inc. assets. The tax credit associated with losses carried forward by Cellectis and its subsidiaries was
capitalized, given the prospects for recoverability.

The (current and non-current) “Borrowings” item mainly corresponded to the restatement of
leasing contracts for laboratory equipment.

The other financial liabilities consisted of refundable advances granted to the group for
various research programs. In summary, the company financial debt is negligible while equity
capital reached € 38 M at the end of 2010.

42 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 43

 Profit & Loss Cash Flow Statement
2010 2009 2010 2009
Figures in thousands of euros 12 months 12 months Figures in thousands of euros 12 months 12 months

Sales 8 166 7 613 Net income/loss of the year (8 063) (7 768)

Other revenues (Research tax credit & subsidies) 1
7 609 2 527 Depreciation & amortization 1 186 793
Total operating revenues 15 775 10 140 Capital gain on assets disposal (61)
Cost of Sales (licensing-in) (1 445) (1 449) Deferred Taxes (3 036) (1 749)
Gross Margin Profit 14 330 8 691 Share based payments 435 1 045
Research and Development (12 311) (7 971) Other non cash items 144 (30)
Marketing and Administration (13 457) (10 601) Cash Flow from operating activities before Working Capital change (9 334) (7 770)
Other income 0 78 (Increase) / Decrease in accounts receivable (758) (893)
Other expenses (27) (Increase) / Decrease of Research Tax Credit & Subsidies (5 018) 1 321
Current operating income/loss (11 465) (9 803) (Decrease) / Increase of trade accounts payable 1 916 71
Financial income 485 463 Net change in other assets and liabilities (2 672) 3 952
Financial expenses (153) (173) Change in working capital (6 532) (4 451)
Other financial income & expenses 34 (4) NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (15 866) (3 319)
Net operating income/loss 366 286 Acquisition of intangible assets (3 528) (1 017)
Income tax 3 036 1 749 Acquisition of tangible assets (1 477) (448)
NET INCOME (8 063) (7 768) Acquisition of financial assets
Net income form sale of tangible assets 729 719
1
Including research tax credit 6 148 1 255 NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES (4 276) (746)
New borrowings 0 0
Revenues from licenses and research kit sales increased by more than 7% in 2010. This Repayment of long-term borrowings (983) (1 079)
increase is significant considering certain agreements with major groups that have been placed Proceeds from issuance of common stock 93 22 296
on hold or in the midst of reorganization, particularly during the launch period of new NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES (890) 21 217
research kits. The next fiscal year is expected to show further progress, particularly in kit sales
and related services.
CHANGE IN CASH AND CASH EQUIVALENTS (21 032) 17 152

The R&D tax credit increased significantly in 2010 (€ 6.1 M compared with € 1.3 M in 2009), Opening cash and cash equivalents 45 080 27 928
mainly due to the increase in R&D expenditure (+54%) and the reduction in grants received Closing cash and cash equivalents 24 048 45 080
in 2010. A background study was conducted by Cellectis with the help of consultants in order INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (21 032) 17 152
to estimate the R&D tax credit.
The increase in the R&D tax credit in 2010 resulted in a considerable increase in this receivable
The increase in operating expenses in 2010 is due to the implementation of a major growth
at December 31. Intangible investments in 2010 consisted of € 1.9 M capitalized development
strategy outlined in 2009, the consolidation of upstream research teams for Cellectis, and
expenses, along with patent acquisitions. Approximately one third of the year’s cash burn
application platform development for each of the subsidiaries. Research and development
was affected by a temporary unfavorable variation in working capital requirements. In 2011,
expenses increased by approximately 50%, which remains consistent with the staff increase
the change in cash (and cash equivalents) is expected to be near the level of net income.
(+50% from the end of 2009 to the end of 2010).

44 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 45

 Share Price and Capital Structure

Cellectis’ share price saw a downturn during the 2010 financial year. In fact, the first
Share Price Evolution trading day of 2010 finished at a price of € 10.95 per share and the last day (December
31st) finished at a price of € 7.40 per share, thus showing a net fall of 32.4%. Several
Share Price in € Share Volume in thousands of shares
12
factors explain this downturn: the continued exit of venture capitalists as historical
100
11 shareholders, low daily trade volumes and market volatility linked to significant macro-
80
10 economic uncertainty.
60
9
40
8 The capital structure has continued to evolve by the exit of venture capital shareholders
7 20 and changes resulting from the capital increase at the end of 2009. The free float
6 0 has now reached more than 60% but the “hard core” holding, centered around the two
Apr Jul Oct
2010
2009

founders, the Institut Pasteur, the business angel present in the capital since 2000
€ 100 million market capitalization. About 10,000 share and the industrial companies that entered in 2008 (Regeneron) and 2009 (Monsanto),
average volume.

NYSE-Euronext ACLS.PA
remains unchanged.
Appendices
Shareholders Breakdown as of December 31, 2010

1. Free float 62% 2

2. Corporate Partners 4% 3

3. Founders & Management 15%

4. Business Angel 10%

1 4
5. Venture Capitals 5%

6. Institut Pasteur 4%
5
6

46 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 47

Governance

Executive Committee Board of Directors Scientific Advisory Board

The Executive Committee is composed of the senior-level management of Cellectis, which The Board of Directors determines the The Scientific Advisory Board, set up in
establishes consolidated objectives, monitors the strategic projects and decides on priorities. company strategy and oversees Cellectis 2002, is composed of eight active members,
Its members implement the company’s strategy and direct its day-to-day operations. The activities. Members of the Board of appointed for one year and meets twice a
Committee includes André Choulika and David Sourdive, the company’s co-founders. Directors serve for a term of three years; year. Its mission is to outline Cellectis’ broad
the Chairman convenes meetings scientific orientations. It presents Cellectis’
André Choulika, PhD, Chief Executive Officer when it is deemed necessary or desirable. management team with methods and
strategies to achieve the company’s techno-
André Choulika, PhD, founder of Cellectis SA, has served as Chief Executive Officer since On December 31, 2010: logical goals. It evaluates the work achieved
the company’s inception. Dr. Choulika is a pioneer in the analysis and use of meganucleases during the year and the results obtained.
to modify complex genomes. He has made many of the critical observations in the field Christian Policard, PhD
On December 31, 2010:
Executive Commitee, from left to right: and is an author of the most significant patents on the use of meganucleases in vivo. Chairman, co-founder of Biotech
David Sourdive, André Choulika, Frédéric Pâques, Dr. Choulika received a PhD in Molecular Virology form University of Paris VI / Institut Developpement Conseils
Dirk Pollet, Sylvie Delassus, Marc Le Bozec Prof. François Jacob, Honorary Chairman, PhD
Pasteur. Dr. Choulika has made post-doctoral studies at the Harvard Medical School within
Collège de France, Paris, France
the department of Molecular Medicine of Boston’s Children’s Hospital. Martin Bitsch, MD
Independent director, Consultant Prof. Rodney J. Rothstein, PhD, Chairman
David Sourdive, PhD, Executive Vice President, Corporate Development Columbia University, New York, USA
André Choulika, PhD
Prof. Frederick W. Alt, PhD
David Sourdive, PhD, co-founded Cellectis SA with Dr Choulika, and has served as Director, Chief Executive Officer, Cellectis
Howard Hughes Medical Institute,
Director since 2000. Prior to inception of the company, Dr Sourdive was the head of
Chevy Chase, USA; Harvard
Biotechnology Laboratory at the Centre d’Etudes du Bouchet (French Ministry of Defense). Alain Godard
Medical School, Boston, USA
At the same time, Dr Sourdive was heading a research group in Immunology at the Pasteur Independent director, Former Head of
Institute. Dr. Sourdive attended Ecole Polytechnique and received a PhD in Molecular Aventis Cropscience board of directors, Prof. Bernard Dujon, PhD
Virology form University of Paris VII/ Institut Pasteur. Dr Sourdive then applied Consultant Université Pierre et Marie Curie (Paris VI) -
recombination tracking technologies to anti-viral immune memory, at the Emory University Institut Pasteur, Paris, France
Vaccine Center in Atlanta. Roger J. Hajjar, MD
Prof. Alain Fischer, MD, PhD
Director, Kaminvest Holding Representative
Hôpital Necker - Enfants Malades, Paris,
France
Frédéric Pâques, PhD, Chief Scientific Officer Richard C. Mulligan, PhD
Independent director, Mallinckrodt Profes- Prof. James E. Haber, PhD
Marc Le Bozec, Chief Financial Officer sor of Genetics at Harvard Medical School Brandeis University, Waltham, USA
and Director of the Harvard Gene Therapy
Prof. Denis Pompon, PhD
Dirk Pollet, PhD, Chief Business Officer Initiative
Center of Molecular Genetics,
Gif-sur-Yvette, France
Sylvie Delassus, PhD, Senior Vice President, Corporate Communication David Sourdive, PhD
Director, Executive Vice President, Prof. José-Alain Sahel, MD, PhD
Corporate Development, Cellectis Hôpital des Quinze-Vingts, Paris, France

Prof. Luis Serrano, PhD

Pascale Altier
Center for Genomic Regulation,
Observer, Institut Pasteur Representative
Barcelona, Spain

48 l Cellectis l Activity Report 2010 l l Cellectis l Activity Report 2010 l 49

®
Cellectis

Contact:
Cellectis
102 avenue Gaston Roussel
93230 Romainville
France
Tel: +33 (0)1 41 83 99 00
investors@cellectis.com
www.cellectis.com

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Ramon Martinez
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Cellectis
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Disclaimer
This publication and the information contained
herein do not constitute an offer to sell or subscribe,
or a solicitation of an offer to buy or subscribe,
for shares in Cellectis in any country. This
publication contains forward-looking statements
that relate to the Company’s objectives based
on the current expectations and assumptions of
the Company’s management only and involve
unforeseeable risk and uncertainties that could
cause the Company to fail to achieve the objectives
expressed by the forward-looking statements bove.
MADE BY CELLECTIS