Cosmo Pharmaceuticals NV · SIX:COPN
Cosmo Pharmaceuticals NV — Credit Suisse Equity Forum November 2021
37 slides from Cosmo Pharmaceuticals NV's conference presentation, November 2021
Slide 1: Cosmo Delivering Innovation
Cosmo Delivering Innovation Credit Suisse Equity Forum November 2021 Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 2: Safe Harbour
SAFE HARBOUR This presentation may include forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. The inclusion of forward-looking statements should not be regarded as a representation by Cosmo that any of its p
Slide 3: Overview
Overview Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 4: Cosmo's Expertise
COSMO’S EXPERTISE Cosmo has top-class expertise and know-how in three major therapeutic areas • GI • Endoscopy • Dermatology Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 5: Cosmo Has an Impressive Track Record
COSMO HAS AN IMPRESSIVE TRACK RECORD • Cosmo’s expertise in these areas has led to: - 5 drugs approved by the FDA: Lialda, Uceris, Aemcolo, ByFavo, Winlevi - 4 drugs approved by the EU: Mezavant (Lialda), Cortiment (Uceris), RelaFalk (Aemcolo), LuMeBlue - 2 medical devices approved both by the FDA a
Slide 6: All Cosmo Products Are One-of-a-Kind and Provide Solutions to Unmet Needs
ALL COSMO PRODUCTS ARE ONE-OF-A-KIND AND PROVIDE SOLUTIONS TO UNMET NEEDS • Lialda - once a day formulation of mesalamine for the treatment of mild Ulcerative Colitis (UC), increasing compliance • Uceris - once a day formulation of budesonide for more severe UC, devoid of side effects • Aemcolo - an
Slide 7: All Cosmo Products Are One-of-a-Kind and Provide Solutions to Unmet Needs
ALL COSMO PRODUCTS ARE ONE-OF-A-KIND AND PROVIDE SOLUTIONS TO UNMET NEEDS • LuMeBlue - first drug to increase detection of lesions during colonoscopies • Eleview - first injectable solution to make polyp removal during colonoscopies safer and faster • GI Genius - first AI based medical device for th
Slide 8: Cosmo's Business Model
COSMO’S BUSINESS MODEL • Cosmo will seek best in class partners to commercialise its products • All Cosmo’s approved products are currently marketed by partners • This enables Cosmo to: - Maintain a lean cost structure - Increase diversification - Reduce overall execution risk - Focus on research an
Slide 9: Current Partnerships
CURRENT PARTNERSHIPS Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 10: Current Partnerships
CURRENT PARTNERSHIPS Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 11: Cosmo's Development Pipeline
COSMO’S DEVELOPMENT PIPELINE PRODUCT INDICATION PH I PH II PH III Aemcolo IBS-D Acute Uncomplicated Diverticulitis* Small Intestine BacteriaI Overgrowth (SIBO)* Minimal Hepatic Encephalopathy* Lesion detection during colonoscopy - European Methylene Blue MMX Union APPROVED Methylene Blue MMX Lesion
Slide 12: Cassiopea SpA
CASSIOPEA SPA • Cosmo currently owns 46.6% of Cassiopea and launched a public exchange offer in October 2021 to acquire all the publicly held shares of Cassiopea not currently owned by Cosmo • On 16 November, Cosmo announced that shareholders tendered 76.5% of the publicly held shares covered by the
Slide 13: Cassiopea SpA's Development Pipeline
CASSIOPEA SPA’S DEVELOPMENT PIPELINE PRODUCT INDICATION PH I PH II PH III Winlevi (clascoterone) cream 1% Acne APPROVED Breezula (clascoterone solution) Androgenetic alopecia Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 14: Replenishment of Cosmo's Development Pipeline
REPLENISHMENT OF COSMO’S DEVELOPMENT PIPELINE • CB-03-10 for the treatment of solid tumors is now seeing the GMP engineering batches being finalized, the phase I trial with a renewed formulation which significantly increases bio-availability is expected to begin by end 2021 • In addition, Cosmo is c
Slide 15: Replenishment of Cosmo's Development Pipeline
REPLENISHMENT OF COSMO’S DEVELOPMENT PIPELINE • Cosmo is unlikely to take the candidate to Phase 3, at that stage the investment would be too great relative to risk considering that the business model is to out-license rather than market directly • Cosmo is currently focusing on 5 opportunities at e
Slide 16: Cosmo's Financial Position
COSMO’S FINANCIAL POSITION Cosmo is an established company with a strong balance sheet and is generating a positive cashflow from operations Market Cap1 Cash, bonds and fund Equity stakes in other CHF 1,048.0 million investments1 companies1 €204.7m €227.1m 2020: €212.9m 2020: €339.2m Treasury shares
Slide 17: Cosmo's HY21 Revenues
COSMO’S HY21 REVENUES Other revenues from sales, 4% Royalties , 9% Half Year 21 revenue €28.4m vs €25.9m prior year 16 15 H1 2021 Manufacturing generic products, speciality drugs 14 H1 2020 13 and related services, 22% 12 Licence fees , Up-front 10 fees & milestones, 14% 8 6 6 6 4 4 4 2 2 Manufactur
Slide 18: Cosmo's Headcount
COSMO’S HEADCOUNT As at 30th of June 2021 Research and Development 77 28% Production & Logistics 160 58% S,G&A 39 14% Total 276 Cosmo has invested heavily in research and development while maintaining a lean organisation structure Overall headcount has increased from 265 at December 2021 and 234 at
Slide 19: Cosmo's Stakes in Other Companies as a Result of Partnerships and Spin-offs
COSMO’S STAKES IN OTHER COMPANIES AS A RESULT OF PARTNERSHIPS AND SPIN-OFFS • As at 31st of October 2021 the market value of our stakes in other companies, cash, loans, investments and treasury shares was €512.5 million. €M 31 Oct 2021 Shareholding in Cassiopea 150.9 Shareholding in Acacia Pharma Gr
Slide 20: Recent Milestones
Recent Milestones Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 21: Recent Milestones
RECENT MILESTONES • In November, Cosmo announces the provisional interim result of the public exchange offer for all publicly held shares of Cassiopea S.p.A., in the initial acceptance period shareholders tendered 76.5% of the publicly held shares covered by the offer which together with the Cassiop
Slide 22: Recent Milestones
RECENT MILESTONES • EU rights (plus Switzerland, UK, EEA countries, Russia and Mexico) for Lumeblue (Methylene Blue MMX) licensed to Alfasigma S.p.A., February 2021, launch expected 1Q 2022 • Successful outcome of Rifamycin 600mg phase II trial in IBS-D announced, January 2021 • License of Lumeblue
Slide 23: Key Products Update
Key Products Update Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 24: GI Genius
GI GENIUS • In April 2021, GI Genius™ was approved by the FDA • The FDA assessed the safety and effectiveness of the GI Genius through a multicenter, prospective, randomized, controlled study in Italy with 700 subjects 40-80 years old who were undergoing a colonoscopy for colorectal cancer screening
Slide 25: GI Genius
GI GENIUS The global AI partnership with Medtronic • Now Approved in the US, Europe, Australia, Israel and the United Arab Emirates • Extensive marketing campaign by Medtronic underway • https://www.medtronic.com/us-en/c/digestive-gastrointestinal/gi-genius.html Cosmo Pharmaceuticals Credit Suisse E
Slide 26: GI Genius – Video
GI GENIUS – VIDEO Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 27: GI Genius – Video
GI GENIUS – VIDEO Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 28: GI Genius – Video
GI GENIUS – VIDEO Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 29: GI Genius
GI GENIUS • Subsequent to the interest shown by the market Medtronic has ordered 3,000 devices • As of 31 October 2021 we have delivered 1,062 devices to Medtronic for placement in the US market and 388 for the European Market Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 30: Aemcolo
AEMCOLO • In January 2021, we announced the successful outcome of our Phase II Proof of Concept (POC) clinical trial of Rifamycin-MMX 600mg in Irritable Bowel Syndrome with Diarrhea (IBS-D) • Together with our licensees, we are commencing discussions with the U.S. and EU regulatory agencies with a v
Slide 31: Methylene Blue MMX
METHYLENE BLUE MMX • In August 2020, the European Commission approved Methylene Blue MMX for the visualization of colorectal lesions during colonoscopies • In December 2020, we licensed the Chinese rights for Lumeblue to China Medical System Holdings Ltd. (“CMS”) (SEHK: 867) • In February 2021, we l
Slide 32: 2021 Key Priorities & Outlook
2021 Key Priorities & Outlook Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 33: Key Priorities for 2021 and Beyond
KEY PRIORITIES FOR 2021 AND BEYOND • Post the closing of the proposed transaction with Cassiopea, focus on the successful integration of Cosmo and Cassiopea • Ensure that GI Genius performs in the US market by providing Medtronic with all the necessary supply and support • Complete the replenishment
Slide 34: 2021 Guidance
2021 GUIDANCE • We reiterate our prior guidance of: - Revenue in the range of €60m - €64m - Operating profit in the range of €3m - €5m • In addition to the operating profit above, the agreement reached between Sun and Cassiopea in relation to Winlevi will result in Cassiopea delivering a profit in F
Slide 35: Cosmo as Seen by Equity Analysts
COSMO AS SEEN BY EQUITY ANALYSTS • Analyst – Peter Welford • Analyst – Barbora Blaha • BUY Rating • OUTPERFORM Rating • 12 month price target CHF 110 • 12 month price target CHF 95 • Analyst – Paul Verbraeken • Analyst – Bob Pooler • BUY Rating • Risk Adjusted NPV per share CHF 134 • 12 month price
Slide 36: Thank You
Thank You Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Slide 37: Cosmo Pharmaceuticals N.V.
Cosmo Pharmaceuticals N.V. Riverside II Sir John Rogerson’s Quay Dublin 2, Ireland media@cosmopharma.com Mr. Alessandro Della Cha, CEO adellacha@cosmopharma.com Mr. Niall Donnelly, CFO ndonnelly@cosmopharma.com Cosmo Pharmaceuticals Credit Suisse Equity Forum November 2021
Cosmo Pharmaceuticals — Credit Suisse Equity Forum November 2021 on 6ix