shaping the future of cancer therapy · the company undertakes no obligation to update or revise...

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Shaping the Future of Cancer Therapy Dr Alastair Smith, Chief Executive Turner Pope Investments Investor Day 3 rd July 2019

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Shaping the Future of Cancer Therapy

Dr Alastair Smith, Chief Executive

Turner Pope Investments

Investor Day3rd July 2019

2© Avacta Group plc

Disclaimer: Important Notice

No representation or warranty, expressed or implied, is made or given by or on behalf of Avacta Group plc (the “Company” and,

together with its subsidiaries and subsidiary undertakings, the “Group”) or any of its directors or any other person as to the

accuracy, completeness or fairness of the information contained in this presentation and no responsibility or liability is accepted

for any such information. This presentation does not constitute an offer of securities by the Company and no investment decision

or transaction in the securities of the Company should be made solely on the basis of the information contained in this

presentation.

This presentation contains certain information which the Company’s management believes is required to understand the

performance of the Group. However, not all of the information in this presentation has been audited. Further, this presentation

includes or implies statements or information that are, or may deemed to be, "forward-looking statements". These forward-

looking statements may use forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects",

"intends", "may", "will" or "should". By their nature, forward-looking statements involve risks and uncertainties and recipients are

cautioned that any such forward-looking statements are not guarantees of future performance. The Company's or the Group’s

actual results and performance may differ materially from the impression created by the forward-looking statements or any other

information in this presentation.

The Company undertakes no obligation to update or revise any information contained in this presentation, except as may be

required by applicable law or regulation. Nothing in this presentation is intended to be, or intended to be construed as, a profit

forecast or a guide as to the performance, financial or otherwise, of the Company or the Group whether in the current or any

future financial year.

This presentation and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or

disclosed by recipients to any other person.

Certain information in this presentation has been extracted from announcements made by the Company and this presentation is

not a substitute for reading the Company’s announcements in full.

3© Avacta Group plc

Cancer Immunotherapy

Harnessing the patient’s immune system to fight cancer

4© Avacta Group plc

Immuno-therapy Successes

• 2006 - stage 4 melanoma.

• Prognosis was very poor.

• Ipilimumab – experimental antibody

targeting CTLA4 to “re-programme”

her immune system.

• Treated at the Royal Marsden in UK.

• Cancer still in remission.

Sandra Sayce

75immuno- therapies since 2005

15in 2018

5© Avacta Group plc

Immuno-therapies

Immune Cell Tumour CellAnti-PDL1 Immunotherapy

(blocking PD-L1 on tumour cell)

X

X

6© Avacta Group plc

Less than 20% of patients respond to current antibody immunotherapies

Patient Survival is not Reflecting the Early Promise of Immuno-therapies

Pfizer Data

20-30% of patients who have ”inflamed’ tumours

respond to single immunotherapies

Immune Cells Already in Tumour

70-80% of patients who don’t have inflamed

tumours do not respond

No Immune Cells in Tumour

Only 20-30% of cancer patients on average

respond to PD-1 blockade

7© Avacta Group plc

“Inflamed tumours”

respond to simple

immunotherapies

How Can We Improve Survival?

“Non-inflamed”

tumours do not

1. Combine multiple

immuno-therapies

2. Combine immuno-therapies

with “pro-inflammatory” chemo

• Antibody therapies are expensive

• Hitting more than one target at once using a single antibody is difficult

• Antibodies are big so don’t penetrate solid tumours well

But

30% patients 70% patients

8© Avacta Group plc

Avacta has two proprietary therapeutic platforms positioning the

company uniquely well to address the gap in cancer immunotherapies

A New Approach is Needed

TMACTM

• 10x smaller than antibodies

• 10x cheaper to manufacture

• Easier to modify and develop

• Tumour targeted release of chemo

• Reduced side effects

• Longer and greater dosing

Alternative to antibodies Targeted chemotherapy

9© Avacta Group plc

Affimers are Avacta’s proprietary alternative to antibodies

Avacta’s Affimer® Technology

Antibody

• 10x smaller

• 10x cheaper

• Easy to modify

10© Avacta Group plc

TMAC Platform

Targeted activation in

the tumour

Targeted release of chemotherapy in the tumour microenvironment

Inert Chemotherapy Active Chemotherapy

+

“Combination Therapies” “Drug Conjugates”

by an enzyme that is in high

concentration in most solid

tumours compared to

healthy tissue

11© Avacta Group plc

+

Technology and Strategy Overview

Antibody mimetic

+

+

I-O active drug conjugates

Co- administered therapies

Mono- and bi-specific ICP therapies

TMACTM

Two proprietary platforms well positioned to generate multiple clinically differentiated

products addressing the gap in cancer immunotherapy

Exclusively licensed from

Tumour Targeted Chemo

12© Avacta Group plc

Targeted Chemotherapy

• Phase I trial: selected solid

tumours including advanced

and metastatic high grade soft

tissue sarcoma

• IND/CTA 1Q20

• Simple efficacy/tolerability

read-out

Near-term clinical testing tumour targeted chemo in humans creating potential

spin-off licensing opportunity

Global liposomal doxorubicin market: $910m (2018) and is expected to reach $1.41b by the end of 2025 (6% CAGR)

Primary outcomes:

• TMAC FAP linker function in

human

• AVA6000 improved therapeutic

index over Doxil

Testing the TMAC Targeting in Humans IND 1Q20

• Test targeting in human using

doxorubicin

• TMAC “pro-doxorubicin” is inert

until activated in the tumour

• Maximum dose in mice >6x

doxorubicin

TMAC Activation in the tumour

13© Avacta Group plc

• Improved patient outcomes from

combination therapies allows Avacta to

compete in checkpoint inhibitor market

• By 2025, ~350,000 patients per year

globally

• Average reimbursement rate

$13,000/month

• Every 5% market share is $2.7B in

annual sales.

Commercial Potential of

Combination Therapies

• Approximately 1.75m new cancer patients

diagnosed per year in EU/US

• Only 30% respond to existing checkpoint

monotherapies

• 1.25m new cancer patients per year would

not but could respond to Avacta’s

combination therapies

• At an equivalent reimbursement rate

($13,000/month) every 1% market share

is $1.9B in annual sales.

Existing Market Market Expansion

14© Avacta Group plc

Life Sciences

Wholly Owned Pipeline and Fully

Funded Partnerships

Discovery Clinical Candidate IND Phase 1

AVA004 PD-L1

AVA004-100 PD-L1/I-

DASH

AVA021 PD0L1/LAG-3

BISPECIFIC

I-O PIPELINE

AVA6000 TMAC LINKER (PRO-DOXORUBICIN)

4Q20

1Q20

2Q20

4Q20

1H21

2Q20

Undisclosed

Undisclosed

Ongoing

2Q19

Multi-target development partnership and licensing deal worth up

to $310m with $2.5m upfront, $5.5m in near-term milestones,

royalties on future products and full research costs

Multi-target research collaboration initiated 2015. Commercial

option exercised 1Q19 to take one or more Affimer lead

molecules into clinical development.

4Q19 Milestones

15© Avacta Group plc

Investment Highlights

Best-in-class proprietary biopharmaceutical platform: Affimer®

Based in Cambridge UK and listed on the LSE (AVCT)

Differentiated pipeline of novel cancer immunotherapies based on

tumour targeted Affimer/drug combinations: TMACTM

Near-term value inflection points driven by pre-clinical and

clinical milestones, and commercial deals

Validating partnerships in place with LG Chem, Moderna

and Tufts, and new discussions ongoing with additional

third parties

Building a recurring revenue stream from diagnostic and

research applications of Affimers

16© Avacta Group plc

Thank you and any questions?