shaping the future of cancer therapy · the company undertakes no obligation to update or revise...
TRANSCRIPT
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
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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
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presentation.
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performance of the Group. However, not all of the information in this presentation has been audited. Further, this presentation
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actual results and performance may differ materially from the impression created by the forward-looking statements or any other
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forecast or a guide as to the performance, financial or otherwise, of the Company or the Group whether in the current or any
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disclosed by recipients to any other person.
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not a substitute for reading the Company’s announcements in full.
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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
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Immuno-therapies
Immune Cell Tumour CellAnti-PDL1 Immunotherapy
(blocking PD-L1 on tumour cell)
X
X
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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
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“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
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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
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Affimers are Avacta’s proprietary alternative to antibodies
Avacta’s Affimer® Technology
Antibody
• 10x smaller
• 10x cheaper
• Easy to modify
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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
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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
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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