Genmab A/s · OMXCOP:GMAB
Genmab A/s — Shareholder Meeting (April 2021)
47 slides from Genmab A/s's shareholder meeting presentation, Apr 13, 2021
Slide 1: Annual General Meeting
Annual General Meeting Copenhagen, Denmark 13 April 2021 © Genmab
Slide 2: Welcome
Welcome Deirdre P. Connelly Chair of the Board © Genmab 2 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 3: Chair of the AGM
Chair of the AGM Jørgen Kjergaard Madsen Chair of the AGM © Genmab 3 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 4: Today's Agenda
Today’s 1 Report by the Board of 5 Election of members of the Agenda Directors on the Company’s Board of Directors activities during the past year 6 Election of auditor 2 Presentation and adoption of the audited Annual Report 2020 and resolution to discharge Board of Directors and Executive Manageme
Slide 5: Introduction
Introduction Deirdre P. Connelly Chair of the Board © Genmab 5 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 6: Forward Looking Statement
Forward Looking This presentation contains forward looking outcome of clinical trials, slower than expected statements. The words “believe”, “expect”, rates of patient recruitment, unforeseen safety Statement “anticipate”, “intend” and “plan” and similar issues resulting from the administration of o
Slide 7: On the Road to 2025: Evolving Into a Fully Integrated Biotech
On the Road to 2025: Our Core Purpose, Strategy & Vision Guide Our Work Evolving Into a Fully Integrated Biotech Core Purpose To improve the lives of patients by creating & developing innovative antibody products Our Strategy Focus on core competence Turn science into medicine Build a profitab
Slide 8: Corporate Video
Corporate Video ¥Genmab © Genmab
Slide 9: Towards Our 2025 Vision
Towards Our 2025 Vision Jan van de Winkel, PhD President & Chief Executive Officer © Genmab 9 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 10: Key Achievements: Company Highlights & Pipeline Updates
Key Achievements Company Highlights & Pipeline Updates Company Highlights Additional Pipeline Progress ▪ Broad oncology collaboration with AbbVie ▪ Expanding ▪ 8th year of profitability – Two INDs filed – Operating profit +139% – DuoBody-CD3x5T41 & DuoHexaBody-CD371 enter clinic ▪ Strategic growth o
Slide 11: Tisotumab Vedotin BLA Submitted
Tisotumab Vedotin 50:50 collaboration with Seagen, Inc. BLA Submitted First BLA for a Genmab owned ≥50% product • Recurrent or metastatic cervical cancer with disease progression on or after chemotherapy • Based on results from Phase 2 innovaTV 204 study First-in-class • Antibody–drug conjugate (ADC
Slide 12: Approved Antibody Therapeutics Created by Genmab
Key Achievements Approved Antibody Therapeutics Created by Genmab DARZALEX® (daratumumab) & Kesimpta® (ofatumumab) Approved TEPEZZA® (teprotumumab) DARZALEX FASPRO® in U.S. and Europe in Relapsing Approved in U.S. in Thyroid Eye (daratumumab and hyaluronidase Multiple Sclerosis* disease (TED)* human
Slide 13: Investing in the Breadth & Depth of Our Pipeline
Investing in the Breadth & Depth of Our Pipeline R&D Engine Expanding & maturing trials for our • DuoBody® technology proprietary* assets • HexaBody® technology • 2016 • DuoHexaBody® technology • 2 product candidates in the clinic • HexElect® technology • All Phase 1/2 Pipeline Assets • End 2020 • 7
Slide 14: Accelerating Development of Potential "Next Winners"
Accelerating Development of Potential “Next Winners” DuoBody-CD3xCD20 (epcoritamab)1: DuoBody-PD-L1x4-1BB (GEN1046)2: Potential best-in-class bispecific CD3xCD20 antibody Potential first-in-class bispecific IO antibody in in development for treatment of unmet medical need development for treatment o
Slide 15: Key 2021 Priorities
Key 2021 Priorities: Build a Strong Differentiated Product Pipeline & Bring Own Medicines to Market Priority Targeted Milestones » Tisotumab vedotin1 – U.S. FDA decision on BLA and progress to market Bring our own medicines to » Tisotumab vedotin – JNDA submission in cervical cancer patients » Epc
Slide 16: Well On Track to Reaching Our 2025 Vision
Well On Track to Reaching Our 2025 Vision Successful track record Genmab profile today Strategy 2025 Vision 2 potential near-term Focus Areas ▪ Focus on core competence By 2025, our own product has Genmab owned transformed cancer treatment product launches ▪ Turn science into medicine and we have a
Slide 17: 2020 Financial Results
2020 Financial Results Anthony Pagano EVP & Chief Financial Officer © Genmab 17 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 18: 2020: Executing Against Our Priorities
2020: Executing Against Our Priorities Further solidified our strong foundation Recurring revenue growth of 50% and significant underlying profitability Focused investments leading to highly innovative and differentiated pipeline Right team in place to continue to deliver © Genmab 18 For Investor au
Slide 19: Recurring Revenue Growth of 50%
Recurring Revenue Growth of 50% Revenue, DKK Millions 10,111 4.398 90% of $750 million upfront payment from AbbVie recognized immediately 5,366 972 50% increase in recurring revenues 2.211 Addition of TEPEZZA® and Kesimpta® to recurring revenue streams 4.741 DKK 1.8 billion of DARZALEX® sales Mile
Slide 20: Investing in Our Pipeline and Capabilities
Investing in Our Pipeline and Capabilities Operating Expenses, DKK Millions ~145 ~125 ~(400) 3.798 Continued focused and disciplined approach to investment ~1,200 Epcoritamab and DuoBody-PDL1x4-1BB drive 2.728 increase in R&D Investments to expand talented Genmab team Investments in commercial, enha
Slide 21: 2020 Key Figures: Exceptional Growth
2020 Key Figures: Exceptional Growth 2020 2019 2020 2019 DKKM Change USDM * Total Revenue 10,111 5,366 4,745 1,669 886 Recurring Revenue 4,741 3,155 1,586 783 521 Non-Recurring Revenue 5,370 2,211 3,159 886 365 Operating Expenses (3,798) (2,728) (1,070) (627) (450) Operating Income 6,313 2,638 3,675
Slide 22: Robust Financial Framework
Robust Financial Framework Recurring Revenue Growth Focused Investment Continued Growth & Expansion of DARZALEX® Evolving the organization for continued success Potential Blockbuster Products: Focused investment in pipeline & capabilities − Kesimpta® in Relapsing Multiple Sclerosis (RMS) A
Slide 23: 2021 Guidance: Recurring Revenue Growth and Focused Investments
2021 Guidance: Recurring Revenue Growth and Focused Investments Key Figures 2021 2020 DARZALEX® royalties of ~DKK 4.9B to ~DKK 5.3B to drive (DKKM) Guidance Actual significant recurring revenue growth Revenue 6,800 – 7,500 10,111 Recurring Revenue 5,300 – 5,900 4,741 Growth in operating expenses dri
Slide 24: Summary
Summary Clear path to reach our 2025 Vision Growing recurring revenue streams and significant underlying profitability Focused and disciplined investment approach Significant growth opportunities © Genmab 24 For Investor audience only. Not for public information or use. Not for promotional u
Slide 25: Agenda Items 1-4
Agenda Items 1. Report by the Board of Directors on the Company’s activities during the past year 2. Adoption of 2020 Annual Report and discharge Board of Directors and Executive Management 3. Resolution on the distribution of profits as recorded in the adopted Annual Report 4. Presentation of an Ad
Slide 26: Item 3: Resolution on the distribution of profits
Item 3: Resolution on the distribution of profits as recorded in the adopted Annual Report • It is proposed that the profit of DKK 4,758 million for the accounting year 2020 be carried forward by transfer to retained earnings. © Genmab 26 For Investor audience only. Not for public information or use
Slide 27: Item 4: Advisory vote on the 2020 Compensation Report
Item 4: Presentation of an advisory vote on the 2020 Compensation Report • It is proposed to approve the 2020 Compensation Report. © Genmab 27 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 28: 5. Election of Members of the Board of Directors
5. Election of Members of the Board of Directors Deirdre P. Connelly Chair of the Board © Genmab 28 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 29: Deirdre P. Connelly
Deirdre P. Connelly • Re-election for 1 year • Genmab board member since 2017 • Chair – Chair of Compensation Committee, Member of Audit & Finance and Nominating & Corporate Governance Committees • Other board memberships: Macy’s Inc. and Lincoln Financial Corporation • Extensive experience: Leader
Slide 30: Pernille Erenbjerg
Pernille Erenbjerg • Re-election for 1 year • Genmab board member since 2015 • Deputy Chair – Chair of Audit & Finance Committee, Member of Nominating & Corporate Governance Committee • Other board memberships: Millicom, Nordea AB, Nordic Entertainment Group AB. • Extensive experience: Telecoms, med
Slide 31: Rolf Hoffmann
Rolf Hoffmann • Re-election for 1 year • Genmab board member since 2017 • Board member – Member of Audit & Finance and Scientific Committees • Adjunct Professor of Strategy and Entrepreneurship at the University of North Carolina Business School • Other board memberships: Biotest AG, EUSA Pharma, In
Slide 32: Paolo Paoletti, M.D.
Paolo Paoletti, M.D. • Re-election for 1 year • Genmab board member since 2015 • Board member – Chair of Scientific Committee, Member Compensation Committee • CEO GammaDelta Therapeutics Ltd. • Board memberships: PsiOxus Therapeutics Limited and FORMA Therapeutics • Extensive experience: Research, d
Slide 33: Jonathan Peacock
Jonathan Peacock • Re-election for 1 year • Genmab board member since 2020 • Board member – Member of Audit & Finance and Compensation Committees • Other board memberships: Bellerophon Therapeutics Inc, Avantor Inc, W20 Group, Trustee: Natural History Museum of Los Angeles • Extensive experience: co
Slide 34: Anders Gersel Pedersen, M.D., Ph.D.
Anders Gersel Pedersen, M.D., Ph.D. • Re-election for 1 year • Genmab board member since 2003 • Board Member – Chair of Nominating & Corporate Governance Committee, Member of Scientific and Compensation Committees • Other board memberships: Aelis Farma, Bavarian Nordic A/S, Hansa Biopharma AB, Bond
Slide 35: Composition Board of Directors
Composition Board of Directors • Deirdre P. Connelly • Pernille Erenbjerg • Rolf Hoffmann • Paolo Paoletti • Jonathan Peacock • Anders Gersel Pedersen • Peter Storm Kristensen, Employee elected Board Member • Rima Barwarshi Nassar, Employee elected Board Member • Mijke Zachariasse, Employee elected
Slide 36: 6. Election of Auditor
6. Election of Auditor Jørgen Kjergaard Madsen Chair of the AGM © Genmab 36 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 37: 7. Proposals from the Board of Directors
7. Proposals from the Board of Directors Jørgen Kjergaard Madsen Chair of the AGM © Genmab 37 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 38: Item 7(a): Remuneration to the Board of Directors for 2021
Item 7: Proposals from the Board of Directors 7(a): Remuneration to the Board of Directors for 2021 Item 7 (a): Approval of remuneration to the Board of Directors for 2021 • Annual base fee for members of the Board of Directors: DKK 600,000 • Fee for the Chair and Deputy Chair currently subject to m
Slide 39: Item 7(b): Remuneration Policy amendment
Item 7: Proposals from the Board of Directors 7(b): Remuneration Policy for Board of Directors & Executive Management Item 7 (b): Adoption of an amendment to the Remuneration Policy for the Board of Directors and Executive Management of Genmab A/S (decrease of the multiplier of the base fee for the
Slide 40: Item 7(c): Amended Remuneration Policy
Item 7: Proposals from the Board of Directors 7(c): Remuneration Policy for Board of Directors & Executive Management Item 7 (c): Adoption of amended Remuneration Policy for the Board of Directors and Executive Management of Genmab A/S (certain other changes) • Proposal to adopt certain other change
Slide 41: Item 7(d): Authorization to Acquire Treasury Shares
Item 7: Proposals from the Board of Directors 7(d): Authorization to Acquire Treasury Shares Item 7 (d): Authorization to Board of Directors to mandate the Company to acquire treasury shares • Proposes that the Annual General Meeting authorizes the Board of Directors to allow the Company to acquire
Slide 42: Item 7(e): Articles of Association, share capital increase
Item 7: Proposals from the Board of Directors 7(e): Articles of Association Item 7 (e): Authorizations to Board of Directors to increase the share capital of the Company by cash payment and to let the Company issue convertible debt instruments. • Board of Directors proposes to replace the Board of D
Slide 43: Item 7(f): Authorization to issue warrants
Item 7: Proposals from the Board of Directors 7(f): Articles of Association Item 7(f): Authorization to Board of Directors to let the Company issue warrants. • The Board of Directors proposes that Article 5 of the Company's Articles of Association be amended so that the Board of Directors is authori
Slide 44: Item 7(g): Wholly virtual general meetings
Item 7: Proposals from the Board of Directors 7(g): Articles of Association Item 7(g): Authorization to Board of Directors to assemble general meetings as wholly virtual general meetings • COVID-19 pandemic has made it apparent that Board of Directors needs to have option to decide that a general me
Slide 45: Agenda Items 8-9
Agenda Items 8. Authorization of the chair of the General Meeting 9. Any Other Business and Q&A Jørgen Kjergaard Madsen Chair of the AGM © Genmab 45 For Investor audience only. Not for public information or use. Not for promotional use.
Slide 46: Thank you
Thank you © Genmab For Investor audience only. Not for public information or use. Not for promotional use.
Slide 47: genmab.com
genmab.com © Genmab For Investor audience only. Not for public information or use. Not for promotional use.