Altimmune, Inc. · NASDAQ:ALT
Altimmune — Merger or Acquisition (July 2019)
17 slides from Altimmune's merger presentation, Jul 9, 2019
Slide 1: Acquisition of Spitfire Pharma Inc. Adding NASH Drug Candidate ALT-801
Acquisition of Spitfire Pharma Inc. Adding NASH Drug Candidate ALT-801 Exhibit 99.2
Slide 2: Forward-looking statements Safe-Harbor Statement
Forward-looking statements Safe-Harbor Statement Any statements made in this presentation relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the closing of the Spitfire Phar
Slide 3: Agenda
AGENDA Spitfire Pharma, Inc. overview Strategic rationale ALT-801 overview Financial considerations Q&A 1 2 3 4 5 Vipin K. Garg, Ph.D. President and CEO . Will Brown, CPA Chief Financial Officer . Scot Roberts, Ph.D. Chief Scientific Officer John J. Nestor, Jr., Ph.D. Co-Founder Spitfire Pharma, Inc
Slide 4: Spitfire Pharma Overview
SPITFIRE PHARMA OVERVIEW Founded by Dr. John Nestor and Velocity Pharmaceutical Development, in San Francisco, California Developing a novel dual GLP-1/glucagon receptor agonist for the treatment of NASH Compelling results in established preclinical animal models for NASH Product candidate to be ren
Slide 5: Strategic Rationale
STRATEGIC RATIONALE NASH is a significant unmet need with no currently approved therapy ALT-801: Potent dual agonist peptide that treats a root cause of NASH – obesity Demonstrated beneficial effects on liver fat, fibrosis and inflammation COMPLEMENTARY HEPTCELL | PEPTIDES Leverages our expertise in
Slide 6: ALT-801 Overview: Differentiated, Patient Friendly, Strong Intellectual Property
DIFFERENTIATED PATIENT FRIENDLY STRONG INTELLECTUAL PROPERTY Balanced dual agonist at GLP-1 and Glucagon receptors PK profile optimized for weekly dosing Potential for improved GI tolerability Aqueous solution compatible with 31-gauge needle to maximize comfort Superior to semaglutide and elafibrano
Slide 7: GLP-1/Glucagon Dual Agonists: Optimal Activity for NASH
GLP-1/ Glucagon Dual Agonists: Optimal Activity for NASH ALT-801 Significant reductions in: weight liver fat, inflammation & resulting fibrosis blood glucose GLP-1 ↓ blood glucose ↓ appetite ↓ inflammation GLUCAGON ↑ energy expenditure ↑ adipose browning ↑ lipolysis/ gluconeogenesis ↑ mobilization o
Slide 8: Substantial weight loss can reverse NASH progression
Substantial weight loss can REVERSE nash pROGRESSION1 1 Pomrat et al Hepatology 2010; Glass et al Dig Dis Sci 2015; Vilar-Gomez et al Gastroenterology 2015; Marchesini et al Hepatology 2016; Koutowkidis et al JAMA Intern Med 2019 ALT-801 Sustained weight loss is rarely achievable without medical int
Slide 9: ALT-801 compared with other NASH drug candidates
ALT-801 Semaglutide METABOLIC MODULATORS Pioglitizone Elafibranor MGL-3196 LIVER SPECIFIC EFFECTORS ANTI-INFLAMMATORY ANTI- FIBROTICS Cenicriviroc Selonsertib GR-MD-02 Obetocholic acid (OCA) Most NASH drug candidates do not result in meaningful weight loss Metabolic modulatorsdeliver meaningful weig
Slide 10: 25% weight loss over one month
25% weight loss over one month ALT-801 More than 2x the weight loss of semaglutide Body weight decreased to normal range Body Weight (Percentage Day 0 Weight) 110 100 90 80 70 0 4 8 12 16 20 24 28 Time (days) vehicle dose titration semaglutide (12nmol/kg) ALT-801 (12nmol/kg)
Slide 11: Greater reduction in Liver Fat
GREATER reduction in Liver Fat ALT-801 VEHICLE SEMAGLUTIDE ELAFIBRANOR ALT-801 Liver fat VEIN
Slide 12: Greater Reduction in NAFLD Activity Score (NAS)
GREATER Reduction in NAFLD Activity Score (NAS) ALT-801 Score of each component of the NAS: Steatosis(0–3); Lobular inflammation:(0–3;, Ballooning: (0–2) The % is based on mean of individual animal responses pre- and post-treatment biopsy. vehicle ALT-801 ALT-801 elafibranor semaglutide 5 nmol/kg 10
Slide 13: Greater Impact on Fibrosis
GREATER Impact on Fibrosis ALT-801 LIVER COL1A1 (TOTAL) (Post-biopsy) Liver COL1A1 content (mg) 600 400 200 0 vehicle ALT-801 elafibranor semaglutide ALT-801 showed significant decreases in Type 1 collagen, a key component of fibrosis Similar pattern of effects were noted for galectin-3, a marker fo
Slide 14: Financial considerations – Deal terms
Financial considerations – Deal terms Cash-free and debt-free acquisition of 100% Spitfire Pharma Inc. SALES BASED MILESTONES SINGLE ASSET ENTITY no employees or facilities $5M UPFRONT all stock consideration up to $8M CLINICAL AND REGULATORY MILESTONES payable in cash or stock C
Slide 15: ALT-801 Development plan
ALT-801 Development plan 2019 2020 2020 2021 2021 $10M Budget H2 H1 H2 H2 H1 BEGIN TOX STUDY IND FILING & INITIATE PHASE 1 START MANUFACTURING PHASE 1 TRIAL DATA READOUT
Slide 16: Spitfire Pharma Acquisition: key takeaways
Spitfire pharma Acquisition: key takeaways Complementary asset addressing a significant unmet need Highly differentiated product candidate that addresses a root cause of NASH Outperforms other NASH candidates in preclinical models All stock deal structure with payment terms that minimize risk Cash o
Slide 17: Acquisition of Spitfire Pharma
Acquisition of Spitfire Pharma