Bright Minds Biosciences Inc. · CSE:DRUG
Bright Minds Biosciences — Investor Presentation (February 2025)
24 slides from Bright Minds Biosciences's investor presentation, February 2025
Slide 1: BMB-101 Breaking through: Novel 5-HT2C Selective Agonist
BMB-101 Breaking through Novel 5-HT2C Selective Agonist Drug resistant epilepsies February 2025
Slide 2: Disclaimer and Cautionary Note regarding Forward Looking Statements
Disclaimer and Cautionary Note regarding Forward Looking Statements This corporate presentation (this “Presentation”) of Bright Minds Biosciences Inc. (the “Company”) is current as of January 2025, on reasonable terms; (xx) judicial proceedings, including those related to product liability; (xxi) fo
Slide 3: Bright Minds Biosciences (NASDAQ: DRUG)
Bright Minds Biosciences (NASDAQ: DRUG) 2041 $2Bn $2Bn 2027 BMB-101 DEE Absence epilepsies Cash Runway IP Protection Market opportunity Market opportunity Relevant M&A deals $7.2Bn (2021) 5-HT2C Best-in-class mechanism $1.9Bn (2022) in DEE epilepsies $2.6Bn (2024) NASDAQ: DRUG | BRIGHTMINDSBIO.COM 3
Slide 4: Pipeline
Pipeline Rich and diverse portfolio in neurology and psychiatry with multiple programs Lead Indications 5-HT2C agonists for CNS disorders BMB-101 Rare epilepsies Clinical Studies – Phase 2 BMB-10x Obesity and feeding behaviour ADME/PK profiling Non-hallucinogenic psychoplastogens Treatment-resistant
Slide 5: Drug-resistant epilepsy is still a significant issue
Drug-resistant epilepsy is still a significant issue Definition: ~30% Drug-resistant epilepsy is characterized by the persistence of Epilepsy patients develop of seizures despite the use of at least two appropriate drug resistance antiseizure medications (ASMs) at effective doses Despite the availab
Slide 6: 5-HT2C agonism provides superior efficacy in DEE epilepsies
5-HT2C agonism provides superior efficacy in DEE epilepsies 5-HT2C agonists Fenfluramine DEE - Developmental and Epileptic Encephalopathy DS – Dravet Syndrome LGS – Lennox Gastaut Syndrome TSC - Tuberous sclerosis CDD - CDKL5 deficiency disorder OLE – Open-Label Extension NASDAQ: DRUG | BRIGHTMINDSB
Slide 7: Epilepsy: High unmet need
High unmet need Recent drug development focused on Dravet Syndrome, LGS and other DEEs Mixed Acute Seizure Therapy / Prodromes Medically Other DEE Controllable Syndromes Dravet 70% TSC Infantile Spasms Currently targeted by 5- HT2C agonists Lennox – Gastaul Syndrome Autoimmune epilepsy EPILEPSY Cere
Slide 8: Best-in-class 5-HT2C Selective Agonist BMB-101
Best-in-class 5-HT2C Selective Agonist BMB-101 First-in-class G-protein biased agonist
Slide 9: BMB-101 is uniquely positioned to address major unmet needs
BMB-101 is uniquely positioned to address major unmet needs Proof of mechanism Safety and PK/PD demonstrated in Ph.1 Highly selective G-protein biased properties validated in Increased gamma-power on 5-HT2C agonist agonist Phase 1 qEEG Compound 5-HT2A 5-HT2B 5-HT2C 1300 10 1200 Mean (±SD) Concentrat
Slide 10: Novel 5-HT2C mechanism to avoid tolerance pathways
Novel 5-HT2C mechanism to avoid tolerance pathways Beta-arrestin activation is associated with receptor desensitization and the development of tolerance. BMB-101 is designed to avoid b-arrestin activation and produce sustained effect. Potential for improved efficacy with a G-protein biased agonist D
Slide 11: BMB-101 – Novel scaffold 5-HT2C agonist
BMB-101 – Novel scaffold 5-HT2C agonist Fenfluramine/ LP352/ BMB-101 Norfenfluramine Bexicaserin Lack of 5-HT2B liability ✓ x ✓ (related to cardiac toxicity) 5-HT2C Biased Agonism ✓ x x (Sustained efficacy) Can be Dose-optimized ✓ x x Increased Frontal Gamma power on ✓ Not reported Not reported qEEG
Slide 12: BMB-101 Phase 1 study
BMB-101 Phase 1 study Favorable Safety & Tolerability Results Observed Safety and tolerability Single Ascending Dose 4 cohorts (6 drug and 2 placebo) • No SAEs observed, all AEs were transient • Most common adverse effect - oral paresthesias (related to the sweet taste of Food Effects the drug produ
Slide 13: BMB-101 Phase 1 study
BMB-101 Phase 1 study Favorable Safety & Tolerability Results Observed 40-80 mg BID • Drug slightly better tolerated in fed state at 120 mg Expected Therapeutic dose • No SAEs observed, all AEs were transient Placebo 20 mg (n=6) 60 mg (n=6) 120 mg 180 mg Placebo (n=8) 40 mg BID (n=6) 80 mg BID (n=6)
Slide 14: BMB-101 – Clinical Data from Phase 1
BMB-101 – Clinical Data from Phase 1 Changes in absolute power pre/post-dose Delta Alpha Beta Gamma Target engagement: Broad spectrum ASMs ✓ Transient dose-dependent prolactin release Valproate ⇩ ⇩ ⇩ ⇩ ✓ Central target engagement by qEEG and Potential for Leviracetam ⇩ ⇩ ⇩ NA improved cognitive perf
Slide 15: BMB-101 Phase 2 BREAKTHROUGH Study
BMB-101 Phase 2 BREAKTHROUGH Study An Open-Label Phase 2 Study To Evaluate the Efficacy, Safety and Tolerability of BMB-101 in Adults with: • Absence Epilepsy (with or without Eyelid Myoclonia (Jeavons syndrome)) • Developmental Epileptic Encephalopathy (DEE) Screening Treatment (N = 20) Open Label
Slide 16: US Market Entry Strategy and Revenue Potential
US Market Entry Strategy and Revenue Potential DEE Approach Absence Epilepsy Opportunities ~200-250k Patients with DEEs in the US Rare Absence Epilepsy + Absence Seizures Across Epilepsy Individual DEE Subtypes: (High unmet need) Dravet 21k EEM Absence LGS TSC Jeavons Epilepsy 48k 50k 90k 230k Other
Slide 17: Undervalued relative to rare epilepsy peers
Undervalued relative to rare epilepsy peers 30X DRUG’s 8X 4X 11X 1440X Valuation DRUG’s Valuation DRUG’s DRUG’s Valuation Valuation DRUG’s Valuation $7.2Bn $2.6Bn $7.2Bn $1.9Bn $0.96Bn Transaction Value $7.2Bn $1.9Bn $0.96Bn $2.6Bn $240M M CAP % Premium (30-day 50% 72% N/A (Private) 77% N/A volume)
Slide 18: BMB-101 – Opportunity for Best-In-Class 5-HT2C agonist
BMB-101 – Opportunity for Best-In-Class 5-HT2C agonist Well-Tolerated Optimal 5-HT2C Ideal Properties for Safety & Flexible Favorable PK Profile Pharmacology Commercial Supply Dosing • BID dosing; potential for • Reduced on-target • Biased G-protein agonism • API stable at room QD adverse events att
Slide 19: Appendix: Absence Epilepsy & Seizures
Appendix Absence Epilepsy & Seizures
Slide 20: Absence Epilepsy & Seizures Overview
Absence Epilepsy & Seizures Overview • Absence seizures are defined as profound impairments of consciousness: • Typical Absence Seizures last 10-30 seconds • Atypical Absence Seizures last up to 90 seconds • Absence seizures are common across the epilepsy continuum and represent significant morbidit
Slide 21: Absence Treatment Paradigm and Opportunity
Absence Treatment Paradigm and Opportunity Absence Seizure Management • First-line treatment decisions for absence seizures are dependent on a variety of factors including age, age of onset, Absence Seizures+ Absence Seizures only sex and seizure semiology • Ethosuximide considered narrow-spectrum,
Slide 22: Opportunities for other BMB 5-HT2 agonists
Opportunities for other BMB 5-HT2 agonists
Slide 23: Opportunities for 5-HT2C agonists
Opportunities for 5-HT2C agonists In the treatment of feeding disorders and obesity BMB-10X BMB-10X Feeding behaviour and Obesity Genetic Obesity and Rare Metabolic Disorder Description ✓ To be used in conjunction with GLP1 agonists ✓ PWS is debilitating neuropsychiatric disorder ✓ Improved fat-mass
Slide 24: BMB-201 and 202 – potential for best-in-class 5-HT2A agonists
BMB-201 and 202 – potential for best-in-class 5-HT2A agonists BMB-201 BMB-202 Potent inducer of neuroplasticity The most selective 5-HT2A agonist in development* Description ✓ Designed to have minimal or absent psychoactive effects ✓ Designed to have short psychoactive effects time ✓ Efficacy in rod
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