Mereo BioPharma Group plc · NASDAQ:MREO
Mereo BioPharma — H1 2016 Earnings Presentation
27 slides from Mereo BioPharma's earnings presentation, Sep 16, 2016
Slide 1: Interim results for the six months ended 30 June 2016
Interim results for the six months ended 30 June 2016 16 September 2016 Denise Scots-Knight – CEO Richard Bungay – CFO & COO
Slide 2: Disclaimer
Disclaimer This document has been prepared in good faith and with reasonable care, however the information, statements and opinions contained in it have not been verified by or on behalf of Mereo BioPharma Group plc (the Company). No representation or warranty, express or implied, is given by or on
Slide 3: Agenda
Agenda Introduction Dr. Denise Scots-Knight Richard Bungay CEO CFO & COO Co-Founder Business Overview Highlights Strategy Pipeline Financial Overview Summary 3
Slide 4: Business Overview
—~ Mereo BioPharma ~~ Business Overview
Slide 5: Business overview
Business overview Well financed UK-based specialty biopharmaceutical company founded in March 2015 and admitted to AIM market of LSE (MPH.L) June 2016 Focused on the development of innovative medicines in rare and specialty disease areas Strategy is to selectively acquire and further develop c
Slide 6: Broad pipeline addressing high value end markets
Broad pipeline addressing high value end markets Clinical development Product candidate Indication Highlights Phase 1 Phase 2 Phase 3 Antibody - Sclerostin inhibitor – P2b/3 expected BPS-804 Osteogenesis stimulates bone formation to start H1 2017 Imperfecta (OI) Orphan disease without approved
Slide 7: Highlights
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Slide 8: Operational Highlights – H1 2016
Operational Highlights – H1 2016 BPS-804 (antibody - sclerostin inhibitor) Granted Orphan Drug Designation in US and EU Following submission of Phase 2b/3 pivotal study package in H1 2016 expecting to commence trial H1 2017, pending feedback from regulator BGS-649 (aromatase inhibitor) Com
Slide 9: Financial Highlights – H1 2016
Financial Highlights – H1 2016 Shares admitted to the AIM market of the London Stock Exchange on 9 June 2016 Raised £14.8 million through private placement at time of AIM admission Issue of new ordinary shares: £11.3 million Novartis convertible loan: £3.5 million Private placement price:
Slide 10: Strategy
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Slide 11: Company strategy
Company strategy 1 Advance our initial pipeline product candidates through the clinical pathway Early mover advantage in a new model of pharmaceutical development driven by Execute needs of large pharmaceutical Phase companies 2b/3 trial of BPS-804 in OI Execute Phase 2b dose confirmation trial
Slide 12: Product candidate selection criteria
Product candidate selection criteria Indication with unmet medical need and significant market potential Optionality Sourced from around further large pharma value creation companies Favourable competitive Scientific landscape / Selection rationale and pricing and Criteria robust data reimbursement
Slide 13: Pipeline
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Slide 14: Osteogenesis Imperfecta (OI)
Osteogenesis Imperfecta (OI) Disease characteristics A genetic and chronic disorder affecting connective tissue, thus resulting in bone fragility and reduced bone mass Prevalence of 20,000 to as many as 50,000 patients in the US; in Europe approx 7.5 out of 100,000 Increased risk of bone fract
Slide 15: BPS-804 (OI) highlights
BPS-804 (OI) highlights Product highlights Fully human monoclonal antibody inhibiting sclerostin 83 patients have received BPS-804 in clinical trials to date: including patients with moderate OI Statistically significant improvement on BMD and blood bone biomarkers In studies to date, BPS-80
Slide 16: Hypogonadal Hypogonadism (HH) in obese men
Hypogonadal Hypogonadism (HH) in obese men Hypogonadism in men is a clinical syndrome that results from inadequate levels of testosterone Current standard of care for the treatment of male hypogonadism is testosterone replacement therapy – No approved therapies specifically targeting obese men w
Slide 17: BGS-649 (HH) highlights
BGS-649 (HH) highlights Product highlights Weekly, oral, aromatase inhibitor to be first-line therapy for the treatment of HH in obese men 130 patients have received BGS-649 in clinical trials till date Statistically significant rise in testosterone, returning patients to normal levels, accomp
Slide 18: Acute Exacerbations of COPD (AECOPD)
Acute Exacerbations of COPD (AECOPD) AECOPDs occur when a patient with COPD experiences a sustained Chronic Bronchitis increase in cough, sputum production or dyspnea (shortness of breath), and may require hospitalisation – Patients on average suffer 1 – 3 exacerbations a year – Frequency and seve
Slide 19: BCT-197 (AECOPD) highlights
BCT-197 (AECOPD) highlights Product highlights Small molecule, inhibitor of the enzyme p38 MAP kinase Oral therapy given during an exacerbation 260 patients have received BCT-197 in clinical studies to date Clinically meaningful improvement on FEV1 and throughout the period of an exacerbatio
Slide 20: Projected news flow and catalysts
Projected news flow and catalysts Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 H1 2018 FPI BPS-804 LPI Interim data BGS-649 Interim analysis Phase 2b data BCT-197 Phase 2b data New Products Product evaluation FPI = First Patient In LPI = Last Patient In 20
Slide 21: Financial Overview
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Slide 22: Fundraising overview
Fundraising overview £m Private placement (Woodford, Invesco): • Tranche 1 (July 2015) 20.0 • Tranche 2 (June 2016) 56.5 Total private placement 76.5 Pre-admission placement (June 2016) 11.3 Novartis convertible loan 3.5 TOTAL GROSS PROCEEDS 91.3 Fees (4.8) TOTAL NET PROCEEDS 86.5 Financed through
Slide 23: Financial summary – H1 2016
Financial summary – H1 2016 6 months Period Period ended 30/6/16 ended 30/6/15 ended 31/12/15 £m £m £m Research & development expenses1 (11.1) - (5.4) General & administrative expenses2 (5.8) - (7.7) Operating loss (16.9) - (13.2) Taxation 2.2 - 1.0 Loss for the period (14.7) - (12.2) Opening cash 1
Slide 24: Summary
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Slide 25: Summary
Summary Key milestones delivered for all three programmes Two Phase 2 studies commenced within nine months of acquiring programmes Orphan Drug Designation achieved in US and EU for BPS-804 in OI Submitted package to the regulator for BPS-804 registration study Financial position strengthen
Slide 26: Questions?
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Slide 27: Introducing the Mereo leadership team
Introducing the Mereo leadership team Strong management team Experienced board of directors Dr. Denise Scots-Knight Dr. Peter Fellner (Chairman) CEO Chairman Ablynx, Vernalis, Consort Medical Co-Founder Ex CEO of Celltech, Roche UK Dr. Alastair MacKinnon Dr. Anders Ekblom (Chair – Remuneration C
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