Skye Bioscience, Inc. · NASDAQ:SKYE
Skye Bioscience — Merger or Acquisition (August 2023)
13 slides from Skye Bioscience's merger presentation, Aug 21, 2023
Slide 1: Transaction & Overview Q3 2023
Transaction & Overview Q3 2023 +
Slide 2: Forward Looking Statements
skyebioscience.com • 2 FORWARD LOOKING STATEMENTS This presentation contains “forward-looking statements”, including statements regarding Skye Bioscience, Inc. (“Skye Bioscience and/or the Company”), within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act o
Slide 3: Transaction Highlights
TRANSACTION HIGHLIGHTS $17M institutionally-led financing • $12M PIPE led by 5AM Ventures; joined by Versant Ventures and other accredited investors • $5M convertible note Bird Rock Bio acquisition • $20M merger consideration for Bird Rock’s outstanding equity interests held by dedicated biotechnolo
Slide 4: CB1 inhibitor and CB1 activator programs
skyebioscience.com • 4 • CB1 inhibitor (negative allosteric modulator) • Nimacimab: monoclonal antibody • Inhibits ligand-mediated and intrinsic CB1 signaling • Highly selective for CB1, with no detectable binding for CB2 or other GPCRs • Mechanism of action in fibrotic, inflammatory and metabolic d
Slide 5: Proforma Capitalization (Unaudited)
PROFORMA CAPITALIZATION (Unaudited) skyebioscience.com • 5 Proforma Cap Table 8/18/2023 Common shares outstanding 3,078.1 M 12.3 M Options and RSUs 38.0 M 0.2 M Warrants 821.2 M 3.3 M Convertible note (as-converted basis)1 2 242.2 M 0.9 M Common shares fully diluted 4,179.5 M 16.7 M Transaction2 Mer
Slide 6: Advancing Distinct CB1-Targeting Therapeutics
ADVANCING DISTINCT CB1-TARGETING THERAPEUTICS skyebioscience.com • 6 R&D Phase 1 Phase 2MOA CB1 Receptor Inhibitor Chronic Kidney Disease Disease R&D Phase 1 Phase 2MOA CB1 Receptor Agonist Glaucoma Disease Skye has two clinical-stage programs with multiple clinical inflection points First–in-class
Slide 7: Exploiting Proven Targets with Improved Drug Design
EXPLOITING PROVEN TARGETS WITH IMPROVED DRUG DESIGN skyebioscience.com • 7 CB1 is a validated target for glaucoma and other inflammatory/fibrotic/metabolic diseases Dynamics Nimacimab SBI-100 OE Basic Goal Reduce inflammatory, fibrotic and/or metabolic processes that cause other degenerative conditi
Slide 8: CB1 Overactivation: Role in Critical Diseases
CB1 OVERACTIVATION: ROLE IN CRITICAL DISEASES skyebioscience.com • 8 Upregulation of CB1 signaling involved in multiple inflammatory, fibrotic and metabolic diseases in various organs; significant prevalence and unmet needs Adipose Tissue Kidneys LungsLiver & Pancreas CB1 Receptor Metabolic Disorder
Slide 9: Competitive Landscape Validating CB1 MOA
COMPETITIVE LANDSCAPE VALIDATING CB1 MOA skyebioscience.com • 9 Recently acquired by Novo Nordisk for up to $1.075B based on positive Phase 1 data of INV-202 NIMACIMABINV-202GFB-024 Molecule Type No CNS Accumulation Based on preclinical data Allosteric Modulator Inverse Agonist Favorable Safety Phas
Slide 10: Anticipated Clinical Milestones
ANTICIPATED CLINICAL MILESTONES skyebioscience.com • 10 Working toward four data catalysts in two key programs over the next two years P2a Interim Data Phase 2a Enrollment Chronic Kidney Disease Basket Study Phase 1 (AUS) Phase 2a (US) Glaucoma 2023 2024 P1 Final Data P2a Interim Data P2a Final Data
Slide 11: Leadership
skyebioscience.com • 11 LEADERSHIP Tu Diep, MSc Chief Development Officer Chris Twitty, PhD Chief Scientific Officer Kaitlyn Arsenault, CPA Chief Financial Officer Punit Dhillon CEO & Chair of BOD Margaret Dalesandro, PhD Pharma. Dev. Consultant, Brecon Pharma Consulting Deborah Charych, PhD Co-foun
Slide 12: Compelling Value Proposition
COMPELLING VALUE PROPOSITION skyebioscience.com • 12 Advancing two Phase 2 programs targeting cannabinoid receptor 1 (CB1) NOVEL TECHNOLOGY PATIENTS FIRST COMMERCIAL POTENTIAL INTELLECTUAL PROPERTY CLINICAL MILESTONES EXPERIENCED TEAM Portfolio of two distinct first-in-class, only-in-class CB1-targe
Slide 13: Skye Next Steps
SKYE NEXT STEPS • SBI-100 OE Phase 1 glaucoma clinical data Q3 2023 • SBI-100 OE Phase 2a glaucoma clinical trial first dosing Q4 2023 • Nimacimab Phase 2a chronic kidney disease clinical trial initiation Q1 2024 • Continued in vivo studies, biomarker development, next-generation • Planned SBI-100 O
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