OmniAb, Inc. · NASDAQ:OABI
OmniAb — Investor Presentation (May 2023)
39 slides from OmniAb's investor presentation, May 11, 2023
Slide 1: OmniAb, Inc.
1 OmniAb, Inc. Nasdaq: OABI May 11, 2023
Slide 2: Disclaimer
2 Disclaimer We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business stra
Slide 3: Our Business
3 Our Business LEVERAGING OUR PROPRIETARY DISCOVERY TECHNOLOGY PLATFORM WORLDWIDE Industry’s Only 4-Species Platform One of the Largest Greenfields in the Pharma Industry Transgenic animals for fully human and bispecific POISED FOR $279 billion total addressable GROWTH market for antibodies by 2025
Slide 4: Mission
Our mission is to enable the rapid Mission development of innovative therapeutics by pushing the frontiers of drug discovery technologies.
Slide 5: Antibodies and Industry Demand
5 Antibodies and Industry Demand HIGHER CLINICAL SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY’S NEED FOR DISCOVERY TECHNOLOGY Acceleration of Regulatory Increasing Antibody Market Approvals (FDA and EMA) • $279B in antibody sales by 2025 (up from ~$238B in 2022) 70 • 51 blockbuster antibo
Slide 6: Growth of Partner Programs
6 Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 301 Active Programs as of 03/31/2023 21 as of 2016(1) Preclinical: 1 Discovery: 20 Substantial progress in all phases, increase in discovery programs expected to feed growth in new clinical programs and futu
Slide 7: Performance Indicators
7 Performance Indicators SIGNIFICANT GROWTH IN ACTIVE PARTNERS AND ACTIVE PROGRAMS Number of Active Number of Active 80 Partners 350 Programs • New license and revenue sharing agreement signed 70 300 in Q1 with Scripps 60 250 50 • Strong annual growth in key performance 200 40 indicators continues,
Slide 8: Select OmniAb Partners
8 Select OmniAb Partners >65 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES
Slide 9: Performance Indicators
9 Performance Indicators ACTIVE CLINICAL PROGRAMS AND APPROVED PRODUCTS Number of Active Clinical Programs and Approved Products 30 • New program entered the clinic in Q1 2023 ‒ SGN-BB228 (Seagen): Anti-CD228 x 4-1BB Anticalin 25 20 • Based on dialog with partners, we see potential for approximately
Slide 10: Q1 2023 and Recent Updates
10 Q1 2023 and Recent Updates SELECT RECENT DEVELOPMENTS SHOW CONTINUED PARTNER MOMENTUM Batoclimab IMVT-1402 SGN-BB228 FcRn FcRn CD228x4-1BB • Ongoing studies in: • An investigational • Next-gen FcRn antagonist • Myasthenia Gravis (P3) costimulatory bispecific • Immunovant expects molecule composed
Slide 11: The OmniAb Platform
11 The OmniAb Platform LICENSES TO OUR TECHNOLOGY PLATFORM ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Create Diverse Repertoires of High-Quality Screen Millions of Cells to Fin
Slide 12: The OmniAb Technology Offering
12 The OmniAb Technology Offering Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Create Diverse Repertoires of High-Quality Screen Millions of Cells to Find Further Characterize, Select & Naturally-Optimized Antibodies Potential Therapeutic Candidates Opti
Slide 13: What is Biological Intelligence?
13 What is Biological Intelligence™? • We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles • The abilit
Slide 14: The OmniAb Platform
14 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Antibody Generation Technologies We believe generating large and diverse repertoires of high-quality antibodies increases the likelihood of Computational discovering the antibody with th
Slide 15: Rodent Platforms
15 Rodent Platforms • Endogenous Ig genes inactivated Light chain loci Heavy chain locus • Expression of full human V gene VL J CL VH DH JH ECCg1 Cg2b e a diversity + Fully human LC Human V, D, Rat constant • Streamlined conversion into fully J human molecule VJ C VDJ C mRNA Human Antibody Well-va
Slide 16: OmniChicken
16 OmniChicken POWERED BY EVOLUTION
Slide 17: OmniTaur: Ultralong CDRH3s Create Novel Binding Domains
17 OmniTaur: Ultralong CDRH3s Create Novel Binding Domains UNIQUE STRUCTURAL FEATURES OF ULTRALONG H3 ANTIBODIES CDRH3 Human Cow • Novel structure may enable targeting epitopes unreachable by standard antibodies • Long H3 domains can be expressed on human Stanfield, et.al. Sci Adv (2020) 6(20): eaba
Slide 18: Common Light Chain Platforms for Bispecific Antibodies
18 Common Light Chain Platforms for Bispecific Antibodies STANDARD IgG FORMAT TO DE-RISK DOWNSTREAM DEVELOPMENT† Bispecifics are a growing area of therapeutics (20% of mAbs in clinic) ~30% of new OmniAb programs seek to use OmniFlic or OmniClic Rearranged IgVK3-15/JK1 IgVK3-15/JK1 JK2-5 IgKC / / “Ge
Slide 19: Antibody Repertoires
19 Antibody Repertoires Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody NUMEROUS OPTIONS AVAILABLE TO ADDRESS DIVERSE PARTNER OBJECTIVES Structural and Benefits for therapeutics Host V genes immunological features discovery and development • Full human V ge
Slide 20: Screening Platforms
20 Screening Platforms Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Immunization Isolate B-cells Expression Validation Sequence Bioinformatics Hybridoma Workflow Fusion Screen enrichment Single-cell B-cell optional NGS Workflow Our powerful single B-cell
Slide 21: The OmniAb Platform
21 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Our discovery teams are flexibly positioned to work closely with partners to identify the right antibody • Data from multi-parameter screening and performance assays used in combination
Slide 22: Ion Channels and Transporters
22 Ion Channels and Transporters WE HAVE EXTENSIVE BIOLOGICAL CAPABILITIES FOR ION CHANNELS AND TRANSPORTERS Proprietary assays leveraged for Proprietary cell lines enable discovery and characterization of high-speed antigen production antibodies Create Diverse Antibody Screen Antibody Identify the
Slide 23: Leveraging Biological Intelligence with Computational Tools
23 Leveraging Biological Intelligence™ with Computational Tools Biological Intelligence • Antibody homology modeling Model-aided optimization • Computational antibody optimization • Sequence liability assessment In silico • Comparison to clinical antibodies developability • Structure-based calculati
Slide 24: Launching OmniDeep at PEGS-Boston
24 Launching OmniDeep at PEGS-Boston OmniDeep is a suite of in silico tools for therapeutic discovery and optimization that are woven throughout OmniAb, Inc.’s various technologies and capabilities. These tools include structural modeling, large multi-species antibody databases, molecular dynamics s
Slide 25: Active Programs by Antibody Source Technology
25 Active Programs by Antibody Source Technology 3% 26% 54% 14% 3% Significant diversity of source As of 3/31/2023, Combination of sources allocated to contributing source used based on percentage of end therapeutic
Slide 26: Diverse Formats and Modalities of Clinical Molecules
26 Diverse Formats and Modalities of Clinical Molecules THREE NEW FORMATS INTRODUCED TO CLINIC IN RECENT MONTHS IgG IgG ADC Duobody® Fab-VHH ADAPTIR™ 10% (IgG4 exchange) (Knob-in-hole) scFv-Fc-scFv Multispecific (incl. T cell HexaBody® Monospecific IgG-scFv IgG-Anticalin® Fab-Fc/scFv-Fc-scFv engager
Slide 27: Intellectual Property Advantage
27 Intellectual Property Advantage PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Over 300 patents issued worldwide Antibody Patent Applications Filed by Partners 70 • We maintain a broad intellectual property estate with mul
Slide 28: Business Model
28 Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: • Upfront/Access fees • Potential Collaboration/Service fees • Milestones • Royalties on commercial sales
Slide 29: Illustrative Antibody Deal Structure
29 Illustrative Antibody Deal Structure Profile A Profile B Potential IP Extension Potential IP Extension Year 0 5 10 15 20 25 Year 0 5 10 15 20 25 Collaboration/ Clinical & Regulatory Royalties: Collaboration/ Clinical & Regulatory Royalties: Access Fees: Milestones: ~Low Single Access Fees: Milest
Slide 30: First Quarter 2023 Financial Results
30 First Quarter 2023 Financial Results ($ Millions) Q1 2023 Q1 2022 Variance License and milestone revenue $ 12.6 $ 4.1 $ 8.5 Service revenue 4.0 5.3 (1.3) Royalty revenue 0.3 0.3 0.1 Total revenues 16.9 9.6 7.3 Research & development 13.8 10.8 3.0 General & administrative 8.2 4.1 4.1 Amortization
Slide 31: Balance Sheet Summary
31 Balance Sheet Summary March 31, December 31, in Millions 2023 2022 ASSETS Business is close to break-even cash flow Current assets: Cash & investments $ 113.6 $ 88.3 Accounts receivable, net 1.8 30.3 Expect to end 2023 with slightly Other current assets 5.7 6.4 Goodwill & intangible assets 248.3
Slide 32: Quarterly Results
32 Quarterly Results ($ Millions) Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 License and milestone revenue $ 4.1 $ 2.3 $ 1.4 $ 31.1 $ 12.6 Service revenue 5.3 4.7 4.9 3.9 4.0 Royalty revenue 0.3 0.1 0.6 0.4 0.3 Total revenues 9.6 7.2 6.9 35.3 16.9 Research & development 10.8 11.5 13.2 12.9 13.8 General & ad
Slide 33: FY 2022 Financial Results
33 FY 2022 Financial Results ($ Millions) FY21 FY22 Variance License and milestone revenue $ 14.7 $ 38.9 $ 24.3 Service revenue 20.1 18.8 (1.3) Royalty revenue 0.0 1.4 1.4 Total revenues 34.7 59.1 24.3 Research & development 39.2 48.4 9.1 General & administrative 16.9 24.9 8.0 Amortization of intang
Slide 34: Share Information – as of 3/31/23
34 Share Information – as of 3/31/23 (in millions) Basic Share Count 99.3 • Basic Shares ‒ Common Shares Outstanding/Public Float Total Earnout Shares 16.3 • Earnout Shares ‒ 50% vest at $12.50, 50% vest at $15.00 RSU/Options/Warrants ‒ VWAP of stock for 20 out of 30 consecutive trading days at each
Slide 35: Management and Board of Directors
35 Management Matt Foehr Kurt Gustafson Charles Berkman Bill Harriman, PhD Christel Iffland, PhD Marie-Cecile Doug Krafte, PhD Chief Executive Officer Chief Financial Officer Chief Legal Officer SVP, Antibody Discovery SVP, Antibody Technologies Van De Lavoir, PhD, DVM SVP, Ion Channels Board Member
Slide 36: Our Key Areas of Focus Going Forward
36 Our Key Areas of Focus Going Forward WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH We Leverage a Highly Scalable Business where Investments in Technologies and Innovation are Informed by Discovery Relat
Slide 37: For more information, please visit www.omniab.com
37 For more information, please visit www.omniab.com
Slide 38: OmniAb's History
38 OmniAb’s History CUTTING-EDGE PLATFORM BUILT FROM >15 YEARS OF INVESTMENT AND STRATEGIC ACQUISITIONS 2008 2016 2017 2018 2019 2020 OMT, Inc. Acquired Acquired Acquired Acquired Acquired Founded OMT Crystal Bioscience Ab Initio Icagen Taurus (Computationally-Powered Antigen Design) Acquired xCella
Slide 39: Approved and Clinical-Stage Partner Pipeline as of 03/31/2023
39 Approved and Clinical-Stage Partner Pipeline as of 03/31/2023 THREE APPROVED PRODUCTS AND 24 ACTIVE CLINICAL-STAGE ANTIBODIES Partner Program Source Animal Therapy Area Target Phase 1 Phase 2 Phase 3 Registration Approved Zimberelimab OmniRat Oncology PD-1 Sugemalimab OmniRat Oncology PD-L1 Tecli