Avacta Group PLC · LSE:AVCT
Avacta — H1 2019 Earnings Presentation
22 slides from Avacta's earnings presentation, Apr 9, 2019
Slide 1: Interim Results for the Period Ending 31st January 2019
Interim Results for the Period Ending 31st January 2019 April 9th, 2019 © Avacta Group plc 1
Slide 2: Disclaimer: Important Notice
Disclaimer: Important Notice No representation or warranty, expressed or implied, is made or given by or on behalf of Avacta Group plc (the “Company” and, together with its subsidiaries and subsidiary undertakings, the “Group”) or any of its directors or any other person as to the accuracy, complete
Slide 3: Operational Highlights: Affimer Therapeutics
Operational Highlights for the Period Ended 31st January 2019 Affimer Therapeutics • Major development partnership and license agreement with LG Chem Life Sciences (LG Chem) potentially worth over $300m plus future royalties on product sales. The agreement included an upfront payment of $2.5m, near-
Slide 4: Operational Highlights: Affimer Research and Diagnostics Reagents
Operational Highlights for the Period Ended 31st January 2019 Affimer Research and Diagnostics Reagents • Custom Affimer sales pipeline largest value to date including multiple global in vitro diagnostic companies, pharma and biotech companies and bioprocessing companies • Agreed commercial license
Slide 5: Financial Highlights for the Period Ended 31st January 2019
Financial Highlights for the Period Ended 31st January 2019 Financial highlights • First up-front milestone payment of $2.5m received from LG Chem. • Fund raising completed August 2018, with £11.6m gross received. • Cash balances £11.8m (£5.2m 31 July 2018). • Half year revenues of £1.0m (£1.5m FY18
Slide 6: Interim Results: Income Statement
Interim Results for the Period Ending 31st January 2019: Income Statement Unaudited Unaudited Audited 6 months 6 months Year ended 31 Jan 2019 (£m) 31 Jan 2018 (£m) 31 July 2018 (£m) Revenue 0.97 1.47 2.76 Life Sciences 0.29 0.69 1.19 Animal Health 0.68 0.77 1.57 Gross profit 0.66 1.01 1.87 Gross ma
Slide 7: Interim Results: Cash Flow and Balance Sheet
Interim Results for the Period Ending 31st January 2019: Cash Flow and Balance Sheet Unaudited Unaudited Audited 6 months 6 months Year ended 31 Jan 2019 (£m) 31 Jan 2018 (£m) 31 July 2018 (£m) Operating activities (2.90) (3.59) (5.47) Capex – PPE & Development (1.42) (1.34) (2.52) Financing 10.89 0
Slide 8: Business Update
Avacta Business Update
Slide 9: Partnership with LG Chem Life Sciences
Partnership with LG Chem Life Sciences From the LG Chem presentation at the JP Morgan Healthcare conference January 2019
Slide 10: Collaboration and License Deal to Access IP from Tufts University
Collaboration and License Deal to Access IP from Tufts University • The TMACTM drug conjugate concept is a joint invention between Avacta and Tufts University School of Medicine. • Avacta has agreed a co-development partnership with Patent Application July 2018: Tumor Bach BioSciences, a company com
Slide 11: Moderna Exercises its Option to Develop and Commercialise Certain Affimers
Moderna Exercises its Option to Develop and Commercialise Certain Affimers • Multi-target deal (May 2015) to co-develop Affimer therapeutics for undisclosed indications. • Upfront, near-term and clinical development milestones worth up to “tens of millions of dollars”. • Royalties on future sales pl
Slide 12: Extending the Benefit of Immunotherapies
Extending the Benefit of Immunotherapies Avacta’s mission is to extend the benefit of cancer immunotherapies with innovative and differentiated Affimer therapeutics combining modulation of multiple checkpoints with pro-inflammatory drugs “Inflamed tumours” PD-1 Monotherapy “Non-inflamed” respond wel
Slide 13: Avacta's Immuno-oncology Strategy
Avacta’s Immuno-oncology Strategy Novel tumour microenvironment active drug conjugates (TMACTM) and combination therapies built around PD-L1 multi-specifics Non-inflamed Tumours Strategy: Inflamed Tumours Strategy: Combinations with Pro-inflammatory Drugs Multi-specific Therapies 70% 70%patients pat
Slide 14: The Broader Affimer TMAC Platform Opportunity
The Broader Affimer TMACTM Platform Opportunity First TMAC Programme FAPa sensitive linker PD-L1 I-DASH inhibitor warhead Broad TMAC patent covers a range of I-O targeting, linkers and warheads and Avacta owns all the commercial rights to the TMAC platform Immuno-oncology Active Tumour Microenvironm
Slide 15: Pipeline: Principal In-house Programmes
Pipeline: Principal In-house Programmes Programme Discovery Lead Optimisation Pre-clinical Phase 1 Checkpoint Antagonists AVA004 PD-L1 AVA-021 Bispecific AVA017 LAG-3 Costimulatory Agonists AVA026 4-1BB AVA023 CD40 Affimer TMACTM Drug Conjugates AVA004-100 PD-L1/I-DASH Technology Development AVA003
Slide 16: Key Preclinical and Clinical Milestones
Key Preclinical and Clinical Milestones AVA004/100 (PDL1/IDASH TMAC) Deliverables: 4Q19 AVA004/100 2H21 IND/CTA 1. First novel tumour TMAC animal AVA004/100 microenvironment drug model PoC filing conjugate candidate; 1H19 AVA004 3Q20 AVA004 4Q20 AVA004 3Q21 AVA004 PD-L1 candidate IND/ CTA Phase I Fi
Slide 17: Appointment of Dr Jose Saro as Chief Medical Officer
Appointment of Dr Jose Saro as Chief Medical Officer Dr Jose Saro • Over 20 years’ experience in the pre-clinical, translational and early clinical development of oncology assets. • Joined Avacta from Roche where he held the role of Senior Translational Medicine Leader at the Roche Innovation Center
Slide 18: Affimer Reagents Overview
Affimer Reagents Overview Differentiated Affimer reagents for research and diagnostics markets Target Markets • Building a profitable reagents business as quickly as possible by Clinical and Rapid Immunoassays supplying or licensing Affimers into Diagnostics high value applications in diagnostics an
Slide 19: Affimer Reagents: Business Update
Affimer Reagents: Business Update Evaluations Market leading, Anti-idiotypic ongoing with turn-key Bioprocessing Reagents global players performance Secure strategic Establish partnership(s) market leading reputation and Immuno- Clinical and Rapid grow revenue histochemistry Diagnostics Working with
Slide 20: Affimer Reagents: 2019 Targets
Affimer Reagents: 2019 Targets • Total Affimer services revenue £1.5m(E) (£1.2m 2018). • Secure further reagents license deals through technology evaluations to underpin long term royalties. • Develop at least one diagnostic immuno-assay product for licensing: • Quicker route to licensing deals than
Slide 21: Summary
Summary Best-in-class antibody alternative technology The Affimer platform is a best-in-class antibody alternative with superior formatting flexibility coupled with high expression levels, stability and solubility. Therapeutics strategy focused on extending the benefit of immunotherapies Proprietary
Slide 22: Advisers and Contacts
finnCap Ltd (Broker and Nomad) Yellow Jersey PR Geoff Nash / Giles Rolls – Nominated Sarah Hollins / Harriet Jackson Advisors avacta@yellowjerseypr.com Tim Redfern / Alice Lane – Corporate Broking www.yellowjerseypr.com www.finncap.com M +44 (0)7764 947 137 T +44 (0) 207 220 0500 Zyme Communications