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

Shaping the Future of Cancer Therapy

Dr Alastair Smith, Chief Executive

Turner Pope Investments

Investor Day3rd July 2019

2© Avacta Group plc

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Cancer Immunotherapy

Harnessing the patient’s immune system to fight cancer


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


Immuno-therapies

Immune Cell Tumour CellAnti-PDL1 Immunotherapy

(blocking PD-L1 on tumour cell)

X

X


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


“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


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


Affimers are Avacta’s proprietary alternative to antibodies

Avacta’s Affimer® Technology

Antibody

• 10x smaller

• 10x cheaper

• Easy to modify


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


+

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


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


• 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


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


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


Thank you and any questions?

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