Circio Holding Asa · OSL:CRNA
Circio Holding Asa — Targovax — Q1 2022 Earnings Presentation
17 slides from Circio Holding Asa's earnings presentation, May 12, 2022
Slide 1: Activating the Patient's Immune System to Fight Cancer
ACTIVATING THE PATIENT’S IMMUNE SYSTEM TO FIGHT CANCER 1Q 2022 presentation 12 May 2022 OSE: TRVX
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This report contains certain forward-looking statements based on uncertainty, since they relate to events and depend on circumstances that will occur in future and which, by their nature, will have an impact on the results of operations and the financial condition of
Slide 3: 1Q 2022 Highlights
1Q 2022 HIGHLIGHTS Announced two key collaboration agreements with Agenus: − Free drug supply of two checkpoint inhibitors for ONCOS-102 Business combination therapy in the upcoming phase 2 melanoma trial Development − Inclusion of the adjuvant QS-21 STIMULONTM as an immune-stimulatory component of
Slide 4: Targovax' New and Strengthened Management Team Is Now in Place
TARGOVAX´ NEW AND STRENGTHENED MANAGEMENT TEAM IS NOW IN PLACE Dr Erik D Wiklund Dr Lubor Gaal Dr Lone Ottesen Dr Victor Levitsky Ola Melin Dr Ingunn M Lindvig Chief Executive Chief Financial Chief Medical Chief Scientific Head of VP Regulatory Officer Officer Officer Officer Manufacturing Affairs F
Slide 5: 1Q Opex in Line with Previous Quarters
1Q OPEX IN LINE WITH PREVIOUS QUARTERS NOK m 1Q21 2Q21 3Q21 4Q21 1Q22 Total revenue 0 0 0 0 0 R&D expenses1 - -9 - -9 -10 -10 -9 Payroll and related expenses -11 -13 -11 -13 -16 Other operating expenses 2 -2 -3 -2 -2 -3 Total operating expenses -23 -25 -23 -26 -29 Operating loss -23 -25 -23 -26 -29
Slide 6: 1Q Financial Snapshot
1Q FINANCIAL SNAPSHOT Key figures Shareholder base Net cash flow in 1Q Estimated ownership1 - 32 - 3.1 Shareholder Avanza Bank AB (nom.) Shares million Ownership 14.7 7.8 % NOK million USD million HealthCap 12.4 6.6 % FJARDE AP-FONDEN 8.7 4.6 % Cash at end of 1Q ABN Amro Global (nom.) 6.5 3.4 % 150
Slide 7: BD Update: Two New Clinical Collaboration Agreements
BD UPDATE: TWO NEW CLINICAL COLLABORATION AGREEMENTS Why this Collaboration ? Benefit for Targovax o First step in new clinical program to test o Opportunity to test TG vaccination in new enhanced mutant RAS TG cancer vaccines patient population o TG01 monotherapy in 20 KRAS and NRAS o First time TG
Slide 8: Targovax Development Pipeline
TARGOVAX DEVELOPMENT PIPELINE Preclinical Clinical Product candidate Discovery IND- Phase 1 Phase 2 Phase 3 / 2022 Milestones enabling pivotal Multi-cohort 4Q 2022 / 1Q 2023 PD1 Refractory Melanoma trial in Start Phase 2 trial Combination w/anti PD1 planning 1H 2022 ONCOS-102 Mesothelioma Full study
Slide 9: Targovax Development Pipeline
TARGOVAX DEVELOPMENT PIPELINE Preclinical Clinical Product candidate Discovery IND- Phase 1 Phase 2 Phase 3 / 2022 Milestones enabling pivotal Multi-cohort 4Q 2022 / 1Q 2023 PD1 Refractory Melanoma trial in Start Phase 2 trial Combination w/anti PD1 planning 1H 2022 ONCOS-102 Mesothelioma Full study
Slide 10: ONCOS-102 Has Demonstrated a Highly Competitive ORR of 35% in PD1 Refractory Melanoma
ONCOS-102 HAS DEMONSTRATED A HIGHLY COMPETITIVE ORR OF 35% IN PD1 REFRACTORY MELANOMA CR PR 35% ORR ONCOS-102 5% 30% (7/20 pts.) 35% 35% ORR 37% ORR BNT111 0% (6/17 (6/16pts.) pts.) Anti-PD1 retreatment RP1 35% 37%ORR ORR 6% 31% (6/17 (6/16pts.) pts.) 20% 28% ORR TAVO 8% (15/54 pts.) 8% 7% 16% 23% O
Slide 11: CTLA-4 Is Strongly Upregulated in Response to ONCOS-102 in Melanoma
CTLA-4 IS STRONGLY UPREGULATED IN RESPONSE TO ONCOS-102 IN MELANOMA Expression of immune checkpoint inhibtors, tumor biopsy RNAseq, difference in PR vs. PD patients Day 1 / Baseline TIGIT Day 1 / Baseline Day 22 Day 22 Day 64 Day 64 Day 1 / Baseline CTLA4 Day 22 >25-fold upregulation Day 64 of CTLA-
Slide 12: Strong Rationale for Combining ONCOS-102 with a CTLA-4 Checkpoint Inhibitor
STRONG RATIONALE FOR COMBINING ONCOS-102 WITH A CTLA-4 CHECKPOINT INHIBITOR Reverse CTLA-4 blockade counteracts negative tumour immuno- infiltrating regulatory T-cells (Tregs) suppression Enhance anti- CTLA-4 blockade enhances the priming of tumor T-cell tumor-specific T-cells priming Boost Enhanced
Slide 13: Next Step: Multi-Cohort Phase 2 Trial to Include ONCOS-102 + Anti-CTLA-4 Combination
NEXT STEP: MULTI-COHORT PHASE 2 TRIAL TO INCLUDE ONCOS-102 + ANTI-CTLA-4 COMBINATION Part 1 – run-in Part 2 – multi-cohort extension 1 ONCOS-102 3 ONCOS-102 + monotherapy Assess botensilimab o Additional cohorts to explore contribution of Randomize components, novel combinations ONCOS-102 + ONCOS-10
Slide 14: Targovax Development Pipeline
TARGOVAX DEVELOPMENT PIPELINE Preclinical Clinical Product candidate Discovery IND- Phase 1 Phase 2 Phase 3 / 2022 Milestones enabling pivotal Multi-cohort 4Q 2022 / 1Q 2023 PD1 Refractory Melanoma trial in Start Phase 2 trial Combination w/anti PD1 planning 1H 2022 ONCOS-102 Mesothelioma Full study
Slide 15: Multiple Myeloma Is an Incurable Cancer That Starts in the Plasma Cells in the Bone Marrow
MULTIPLE MYELOMA IS AN INCURABLE CANCER THAT STARTS IN THE PLASMA CELLS IN THE BONE MARROW Multiple Myeloma Facts & Figures o Second most common form of blood cancer o Worldwide: ~ 176,000 diagnosed & 117,000 deaths in 2020 1 o Five year survival rate only around 55% 2 o Several therapeutic options
Slide 16: Oslo University Hospital – Multiple Myeloma
OSLO UNIVERSITY HOSPITAL – MULTIPLE MYELOMA Phase 1/2 trial testing TG01/QS-21 vaccination in MM patients after standard initial therapy Lead by Dr. Fredrik Schjesvold (PhD, MD), Oslo University Hospital, Norway o Dr. Schjesvold is a leading o Largest clinical research center for international exper
Slide 17: Multiple Paths to Significant Value Creation
MULTIPLE PATHS TO SIGNIFICANT VALUE CREATION Value creation strategy Out-license ONCOS-102 based on data from melanoma multi-cohort trial o Opportunity to “knock-it-out-of-the-park” with novel, differentiated scientifically based IO combinations o Sufficient sizing to de-risk program for big pharma/