Khosla Ventures Acquisition Co
Khosla Ventures Acquisition — Valo Health — SPAC Merger (June 2021)
35 slides from Khosla Ventures Acquisition's SPAC merger presentation, Jun 8, 2021
Slide 1: Valo Overview
Valo Overview Company Overview 2Q21
Slide 2: Disclaimer
Disclaimer Disclaimer. This presentation (“Presentation ”) is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) between Khosla Ventures Acquisition Co. (“Khosla”) and Valo Health,
Slide 3: Disclaimer (con't)
Disclaimer (con’t) Participants in the Solicitation. Khosla, Valo and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Khosla’s shareholders with respect to the proposed Business Combination. A list of the names of Khosla’s directors and
Slide 4: Risk Factors
Risk Factors The below list of risk factors has been prepared as part of the Business Combination. The risks presented below are a subset of the general risks related to the business of Valo and the proposed Business Combination, and such list is not exhaustive. The list below has been prepared sole
Slide 5: Combination of Khosla & Valo Health creates an industry-defining opportunity
Combination of Khosla & Valo Health creates an industry-defining opportunity Khosla Ventures (KV): Bold… Early… Impactful Select KV Investments1 - Early investors in industry-defining companies across $17B $33B multiple verticals market cap market cap - Investments with $395B+ in value1 $48B $5B - KV
Slide 6: Pro forma valuation and ownership
Pro forma valuation and ownership TRANSACTION OVERVIEW ILLUSTRATIVE PRO FORMA OWNERSHIP1 Share price $10.00 1 Pro forma shares outstanding 281.1 Equity value $2,810.9 (+) Debt [0.0] (-) Pro forma cash (488.0) Firm value $2,322.9 FOCUS ON LONG-TERM PERFORMANCE SOURCES 3 - Tiered promote structure rew
Slide 7: Valo is a technology company built to transform the pharmaceutical industry
Valo is a technology company built to transform the pharmaceutical industry, led by a deeply experienced team >100 drug approvals 1 >1,000 regulatory filings 1 >1,000 clinical trials 1 >28,000 AI models deployed1 David Berry, MD, PhD Brandon Allgood, Graeme Bell, MBA, Founder, CEO PhD FCMA Founder In
Slide 8: Valo's Board and investors support the company's vision
Valo’s Board and investors support the company’s vision of transforming the pharmaceutical industry BOARD OF DIRECTORS INVESTORS1 Ron Hovsepian Shreeram Aradhye, MD Chairman of the Board of Directors Board Director CEO Indigo Agriculture, Former CEO Novell, Former Former CMO Novartis Pharmaceuticals
Slide 9: The pharmaceutical industry is at an inflection point
The pharmaceutical industry is at an inflection point: the scale of human centric data and computation now enables a step change1 PHARMACEUTICAL INDUSTRY TRENDS THE VALO OPPORTUNITY Data & computation designed 3 Decreasing R&D productivity to increase precision, and reduce cost and time Scalable, cap
Slide 10: Valo is a technology company built to transform drug discovery and development
Valo is a technology company built to transform drug discovery and development using human-centric data and computation... LEGACY BIOPHARMA MODEL1,2 VALO DRUG ACCELERATION MODEL5 Biological Target Target to Hit to Discovery ID Hit Lead TM Ph II Ph I Preclinical Lead Opt Ph III Reg Comm LOCALIZED3 |
Slide 11: Designed to enable a new model of drug discovery and development
…designed to enable a new model of drug discovery and development rather than applying AI to the constrained, legacy model AI-DRIVEN LIFE SCIENCES INNOVATION REINFORCING LEGACY VALO TRANSFORMATION Biological Target Target to Hit to Discovery ID Hit Lead Ph II Ph I Preclinical Lead Opt Ph III Reg Com
Slide 12: Valo's Opal platform enables a fully integrated, human-centric approach
Valo’s Opal platform is designed to enable a fully integrated, human-centric approach to the systematic development of better drugs, faster Valo is building an end-to-end, fully-integrated drug development platform with a unified architecture, founded upon world-class human-centric data and AI-anchor
Slide 13: Opal platform consists of an integrated set of capabilities
Valo’s Opal platform consists of an integrated set of capabilities designed to transform data into valuable insights that may accelerate discoveries Opal’s design intent is to create a data→compute→drug SELF-REINFORCING ACTIVE LEARNING flywheel which increases Opal’s capability with each ‘loop’... CO
Slide 14: Aspiration for Opal to become the industry standard platform
Valo’s aspiration is for Opal to become the industry standard platform for drug discovery and development, unlocking multiple business models CURRENT FUTURE Building what we believe is the first digitally Aspiration to become the standard native fully integrated pharma technology platform for drug de
Slide 15: Opal is built upon a differentiated, human-centric data foundation
Opal is built upon a differentiated, human-centric, and high quality data foundation DATA >125M years of longitudinal patient data Multidimensional -’omics Valo’s cumulative longitudinal patient data Exclusive access to one of the largest prospective studies 125M >125M spanning pan-omics, imaging, a
Slide 16: Opal is an end-to-end platform
Opal is an end-to-end platform, enabled by Valo’s data capabilities to bring human-centricity to the process, shifting from serial to parallel PLATFORM BIOLOGICAL DISCOVERY Human data to identify human targets designed to treat human disease with enhanced clinical development profiles based on genoty
Slide 17: Biological discovery: Human-centric target discovery
Biological discovery: Human-centric target discovery powered by causal artificial intelligence approaches BIOLOGICAL DISCOVERY Bayesian network 2 1 2 0.35 analysis Cumulative Rate of Coronary Artery Disease Presumed loss of Circulating TARGET1 0.30 1 function in BIOMARKER levels were significantly hig
Slide 18: Biological discovery: discovery of targets linked to patient populations
Biological discovery: Opal’s human-based capabilities designed to enable discovery of targets linked to precisely selected patient populations BIOLOGICAL DISCOVERY Designed to causally link therapeutic intervention to target & pathway mechanism to physiological PATIENT SUBGROUP biomarkers of patient
Slide 19: Therapeutic design: Opal's active learning loop
Therapeutic design: Opal’s proprietary active learning loop is designed to accelerate programs through the discovery process (target → drug candidate) THERAPEUTIC DESIGN OPAL’S INTEGRATED MOLECULE DESIGN LOOP Opal is designed to make computational predictions in parallel with molecule design to gene
Slide 20: Therapeutic design: serial to parallel process
Therapeutic design: Opal is designed to simultaneously optimize for target activity, ADME, and tox, moving from a serial to a parallel process THERAPEUTIC DESIGN TRADITIONAL DEVELOPMENT VALO INTEGRATED DEVELOPMENT EXAMPLE PARALLELIZED DESIGN2 Traditional molecule discovery methods Opal is designed t
Slide 21: Clinical development: trial optimization
Clinical development: Valo’s approach to trial optimization is being designed to leverage patient datasets to identify sub-populations likely to benefit CLINICAL DEVELOPMENT 1 2 3 4 Featurize patient Identify pathway Design pragmatic Monitor and adapt data & biomarker dysfunction in clinical studies
Slide 22: Clinical development: OPL-0301 validates Opal's clinical acceleration
Clinical development: Development of OPL-0301, a biased S1P1 agonist, is designed to validate Opal’s clinical acceleration capabilities CLINICAL DEVELOPMENT Valo’s goal is to computationally define clinical hypotheses a priori and continuously refine them throughout development, potentially enabling s
Slide 23: Scalable acceleration model: supply chain of programs
Valo’s scalable acceleration model is designed to build a ‘supply chain’ of programs as a digitally native therapeutics company INTERNAL SUPPLY CHAIN PR OPAL ACCELERATION FLYWHEEL OF PROGRAMS OG R AM S / IN SIG DATA DA HTS TA FOCUS THERAPEUTIC AREAS: Portfolio designed to reduce risk and achieve CAR
Slide 24: Opal platform offers the opportunity to accelerate program development
Opal platform offers the opportunity to accelerate the development of programs OPAL PLATFORM INDUSTRY New target identification in weeks 6-12 months for typical target discovery using (CV and ND targets discovered and/or statistically VS. validated in less than a month) surrogates rather than humans1
Slide 25: Internal supply chain of programs demonstrates impact of Opal
Internal supply chain of programs demonstrates impact of Opal drug acceleration, providing, we believe, validation to scale via external program supply chain TARGET DISCOVERY MOLECULE DISCOVERY IND ENABLING PHASE I PHASE II 1 OPL-0301 Post-MI; Acute Kidney Injury PLANNED 2021 INTERNAL SUPPLY CARDIOV
Slide 26: OPL-0301: Preclinical and Phase I data
OPL-0301: Preclinical and Phase I data suggests differentiated biology A biased S1P1 agonist designed to avoid the side effects of other We believe Opal has the potential to enable THERAPEUTIC OPAL S1P1 modulators will unlock therapeutic benefit for post-MI left accelerated developmentMurine, In vivo
Slide 27: OPL-0401: Oral candidate for diabetic retinopathy
OPL-0401: Oral candidate with retinal exposure with the potential to address complications of diabetes, including diabetic retinopathy (DR) A ROCK1/2 inhibitor with oral dosing and Pragmatic phase II trial designed to identify THERAPEUTIC preferential exposure in the retina could OPAL responder coho
Slide 28: OPL-0101: Targeted NK cell & T cell stimulator
OPL-0101: Designed as targeted NK cell & T cell stimulator with reduced exhaustion An NK cell and CD8+ T cell selective Potential for monotherapy activity as well as enriched THERAPEUTIC activator protein that avoids Tregs with FUTURE OPAL combination therapy with potential for improved HYPOTHESIS m
Slide 29: Best-in-class compounds leveraging known or proven biology
Valo is seeking to develop best-in-class compounds leveraging known or proven biology Creating a PARP1 inhibitor with central Preventing NAMPT inhibition in the OPL-0001: PARP1 OPL-0021: NAMPT penetrance while preserving activity could retina while driving peripheral activity THERAPEUTIC THERAPEUTIC
Slide 30: Compounds to drug previously undruggable targets
Valo is seeking to develop compounds that allow us to drug previously undruggable targets USP7 is a clinically validated oncogene implicated In vivo: Complete responses to established OPL-0012: USP7 in the p53 pathway1 tumors in mouse models THERAPEUTIC HYPOTHESIS USP7 Control Drug Ub Deubiquitinati
Slide 31: Valo has a growing patent portfolio estate
Valo has a growing patent portfolio estate CUMULATIVE VALO PATENTS AND APPLICATIONS 605 Patents and Applications 600 - 600 patents and applications directed to compositions Granted of matter and methods of use, including patents and Pending applications related to Valo’s proprietary programs across
Slide 32: Scalable acceleration model: internal and external supply chain
Valo’s scalable acceleration model is designed to build a ‘supply chain’ of programs—aspiration to become the standard drug development platform Cross-program active learning benefits internal and external programs INTERNAL SUPPLY CHAIN OPAL ACCELERATION FLYWHEEL EXTERNAL SUPPLY CHAIN PR OF PROGRAMS
Slide 33: Opal as the industry standard platform, multiple business models
Valo’s aspiration is for Opal to become the industry standard platform for drug discovery and development, unlocking multiple business models CURRENT FUTURE Building what we believe is the first digitally Aspiration to become the standard native fully integrated pharma technology platform for drug de
Slide 34: Valo is rapidly scaling and executing its strategy
Valo is rapidly scaling and executing its strategy with the goal of positioning Opal as the standard technology platform upon which drugs are built Powered by the Opal platform, Valo aspires to transform the biopharma industry as what we believe is the first digitally-native fully integrated pharma.
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