Ultragenyx Pharmaceutical Inc. · NASDAQ:RARE
Ultragenyx Pharmaceutical — Merger or Acquisition (September 2017)
15 slides from Ultragenyx Pharmaceutical's merger presentation, Sep 18, 2017
Slide 1: Proposal for Ultragenyx to Acquire Dimension Therapeutics
Proposal for Ultragenyx to Acquire Dimension Therapeutics September 18, 2017 Exhibit 99.2
Slide 2: Forward Looking Statements / Additional Information
Forward Looking Statements / Additional Information Except for the historical information contained herein, the matters set forth in this communication, including statements of anticipated changes in the business environment in which Ultragenyx operates and in Ultragenyx’s future prospects or result
Slide 3: Transaction Overview
Transaction Overview Ultragenyx has submitted a proposal to acquire Dimension Therapeutics for $5.50 per share in cash Total equity purchase price of approximately $138mm(1) in cash at close Premium of 358% to Dimension’s unaffected share price as of August 24, 2017 Premiums of 24% and 48% to implie
Slide 4: Our Strategy
Our Strategy Transforming good science into great medicine for rare genetic diseases HOW HAVE WE DONE IT? CLEAR BIOLOGY RAPID DEVELOPMENT GLOBAL VISION NEW MODALITIES HOW DO WE CONTINUE DOING IT?
Slide 5: Ultragenyx – Dimension Strong Strategic Fit
Ultragenyx – Dimension Strong Strategic Fit 5 things we look for in an opportunity: Rare and ultra-rare disease Genetic disease with clear biology Potential for meaningful clinical benefit Translating existing science to clinic rapidly Global rights to key assets Satisfies all of these criteria
Slide 6: Expanding into New Modalities & Capabilities
Expanding into New Modalities & Capabilities: Optimizing solutions to genetic diseases with clear biology In late-stage clinical development: Fully human monoclonal antibodies Enzyme replacement therapies Traditional Biologics Small Molecule AAV Gene Therapy Oral delivery Simple manufacturing mRNA A
Slide 7: Overview of Dimension Therapeutics
Overview of Dimension Therapeutics Clinical-stage biopharmaceutical company developing AAV-based gene therapies for rare metabolic diseases associated with the liver Holds exclusive license to various AAV vectors from REGENXBIO Option to license for additional indication not yet determined Cannot be
Slide 8: Proposed Acquisition Would Diversify Clinical and Preclinical Pipeline
Proposed Acquisition of Dimension Would Diversify Ultragenyx’s Clinical and Preclinical Pipeline Candidate Description Stage -2 to 0 IND Phase 1 Phase 2 Phase 3 Filed Patients Worldwide Burosumab (KRN23) Anti-FGF23 monoclonal antibody ~48,000 ~2,000-4,000 rhGUS (UX003) Enzyme replacement ~200 UX007
Slide 9: Proposed Acquisition Would Add Significant Upcoming Milestones
Candidate Disease 2H17 2018 Burosumab (UX023) XLH CHMP Opinion (end 2017) BLA Peds Ph 3 Result Data TIO Phase 2 Bone Data rhGUS (UX003) MPS7 PDUFA: Nov 16, 2017 CHMP Opinion UX007 LC-FAOD Phase 3 study design/Reg. path Glut1 DS Phase 3 Movement Disorder study ongoing Ph 3 Data DTX301 OTC Deficiency
Slide 10: Ultragenyx's Rare Disease Expertise
Ultragenyx’s Rare Disease Expertise Ultragenyx’s integrated rare disease capabilities could accelerate the development of Dimension’s programs Burosumab and rhGUS global commercial organization will be leveraged to support potential Dimension candidate launches Global regulatory expertise in registr
Slide 11: Compared to REGENXBIO's Proposal, Ultragenyx Proposal Offers Superior Value and Certainty
Ultragenyx Balance Sheet: Cash(3) (as of June 30, 2017): $457.5 million No debt Acquisition Terms: Ultragenyx offer constitutes a superior proposal for Dimension shareholders Value 24% premium to implied value assuming REGENXBIO’s latest closing stock price(1) 48% premium over 20-Day VWAP(2) Certain
Slide 12: Conclusion & Expected Next Steps
Conclusion & Expected Next Steps Aligns with Ultragenyx’s focus on patients and meeting the challenges of diseases with high unmet need Provides Ultragenyx with new modalities and capabilities and expands further in rare genetic diseases Ultragenyx brings global capabilities and resources to acceler
Slide 13: Appendix
ultrage! WA pharmaceutical Appendix www.ultragenyx.com
Slide 14: Overview of Dimension's Additional Inherited Metabolic Disease Portfolio
Overview of Dimension’s Additional Inherited Metabolic Disease Portfolio Autosomal recessive copper metabolism disorder Deficiency in copper transporter P-type ATPase, ATP7B Copper in liver, brain, kidney, cornea; chelation & strict diet WW prevalence >50K patients; incidence 1 in 30K Wilson Disease
Slide 15: DTX201: Global Collaboration with Bayer
DTX201: Global Collaboration with Bayer R&D expense reimbursement Up to $232M in milestones High single-digit to low double-digit royalties not exceeding the mid-teens IND filing expected in early 2018 Dimension responsible for preclinical activities and Phase 1/2 clinical trial, funded by Bayer Bay
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