OmniAb, Inc. · NASDAQ:OABI
OmniAb — Investor Presentation (January 2023)
38 slides from OmniAb's investor presentation, January 2023
Slide 1: OmniAb, Inc.
1 OmniAb, Inc. Nasdaq: OABI January 2023
Slide 2: Disclaimer
2 Disclaimer We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business stra
Slide 3: OmniAb, Inc. business model and highlights
3 OmniAb, Inc. OUR BUSINESS MODEL IS FOCUSED ON LICENSING OUR PROPRIETARY DISCOVERY TECHNOLOGY WORLDWIDE INDUSTRY’S ONLY 4-SPECIES PLATFORM TRANSGENIC ANIMALS FOR FULLY HUMAN AND BISPECIFIC ANTIBODY DISCOVERY LEADING AND PROVEN ONE OF THE LARGEST GREENFIELDS TECHNOLOGY IN THE PHARMA INDUSTRY >65 PAR
Slide 4: Mission
Our mission is to enable the rapid Mission development of innovative therapeutics by pushing the frontiers of drug discovery technologies.
Slide 5: Antibodies and Industry Demand
5 Antibodies and Industry Demand HIGHER CLINICAL SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY’S NEED FOR DISCOVERY TECHNOLOGY Acceleration of Regulatory Increasing Antibody Market Approvals (FDA and EMA) • $279B in antibody sales by 2025 (up from ~$238B in 2022) 70 • 51 blockbuster antibo
Slide 6: Growth of Partner Programs
6 Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 282 as of 09/30/22 Phase 3: 2 21 as of 2016(1) Phase 2: 2 Phase 1: 18 Approved: 3 Preclinical: 12 Preclinical: 1 Discovery: 20 Substantial progress in all phases, increase in discovery programs expected to f
Slide 7: The OmniAb Platform
7 The OmniAb Platform LICENSES TO OUR TECHNOLOGY PLATFORM ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Create Diverse Pools of High-Quality Screen Millions of Cells to Find Further Cha
Slide 8: The OmniAb Technology Offering
8 The OmniAb Technology Offering Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Create Diverse Pools of High-Quality Screen Millions of Cells to Find Further Characterize, Select & Naturally-Optimized Antibodies Potential Therapeutic Candidates Optimize the Righ
Slide 9: What is Biological Intelligence™?
9 What is Biological Intelligence™? • We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles • The ability
Slide 10: The OmniAb Platform
10 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Antibody Generation Technologies We believe generating large and diverse pools of high-quality antibodies increases the likelihood of Computational discovering the antibody with the Antigen De
Slide 11: Rodent Platforms
11 Rodent Platforms • Endogenous Ig genes inactivated Light chain loci Heavy chain locus • Expression of full human V gene VL J CL VH DH JH EµCµCγ1 Cγ2b ε α diversity + Fully human LC Human V, D, Rat constant • Streamlined conversion into fully J human molecule VJ C VDJ C mRNA Human Antibody Well-va
Slide 12: OmniChicken
12 OmniChicken POWERED BY EVOLUTION
Slide 13: OmniTaur: Ultralong CDRH3s Create Novel Binding Domains
13 OmniTaur: Ultralong CDRH3s Create Novel Binding Domains UNIQUE STRUCTURAL FEATURES OF ULTRALONG H3 ANTIBODIES CDRH3 Human Cow • Novel structure may enable targeting epitopes unreachable by standard antibodies • Long H3 domains can be expressed on human VH framework, or alone as ~5kD Picobodies™ S
Slide 14: Common Light Chain Platforms for Bispecific Antibodies
14 Common Light Chain Platforms for Bispecific Antibodies STANDARD IgG FORMAT TO DE-RISK DOWNSTREAM DEVELOPMENT† Bispecifics are a growing area of therapeutics (20% of mAbs in clinic) ~30% of new OmniAb programs seek to use OmniFlic or OmniClic Rearranged IgVK3-15/JK1 JK2-5 IgKC IgVK3-15/JK1 / / Rea
Slide 15: Antibody Repertoires
15 Antibody Repertoires NUMEROUS OPTIONS AVAILABLE TO ADDRESS DIVERSE PARTNER OBJECTIVES Structural and Benefits for therapeutics Host V genes immunological features discovery and development • Full human V gene diversity • Diverse V gene usage and mixed • Widely accessible and flexible workflows •
Slide 16: Screening Platforms
16 Screening Platforms Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Immunization Isolate B-cells Expression Validation Sequence Bioinformatics Hybridoma Workflow Fusion Screen enrichment Single-cell B-cell optional NGS Workflow Our powerful single B-cell scree
Slide 17: The OmniAb Platform
17 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Our discovery teams are flexibly positioned to work closely with partners to identify the right antibody • Data from multi-parameter screening and performance assays used in combination with b
Slide 18: Ion Channels and Transporters
18 Ion Channels and Transporters WE HAVE EXTENSIVE BIOLOGICAL CAPABILITIES FOR ION CHANNELS AND TRANSPORTERS Proprietary assays leveraged for Proprietary cell lines enable discovery and characterization of high-speed antigen production antibodies Create Diverse Screen Antibody Identify the Antibody
Slide 19: Ion Channels and Transporters
19 Ion Channels and Transporters • Ion channels are key components in a wide variety of biological processes that involve rapid changes in cells • Present in all human cells and affect such vital functions as nerve transmission, muscle contraction, cellular secretory processes and fluid movement • H
Slide 20: Leveraging Biological Intelligence™ with Computational Tools
20 Leveraging Biological Intelligence™ with Computational Tools Biological Intelligence • Antibody homology modeling Model-aided optimization • Computational antibody optimization • Sequence liability assessment In silico • Comparison to clinical antibodies developability • Structure-based calculati
Slide 21: Antibody Repertoire Source Used
21 Antibody Repertoire Source Used ACTIVE PARTNER PROGRAMS DISTRIBUTION OF ANTIBODY REPERTOIRE SOURCE USAGE SOURCES USED TOGETHER FOR BISPECIFICS + Combination of OmniAb sources + 24% 24% 14% 62% Single OmniAb Source 76% + Multi-species platform provides partners even more diverse repertoires and ne
Slide 22: Diverse Drug Formats and Modalities
22 Diverse Drug Formats and Modalities PRECLINICAL AND CLINICAL OMNIAB MOLECULES FORMATS MODALITIES IgG Duobody® ADAPTIR™ ADC (IgG4 exchange) scFv-Fc-scFv 6% Bispecific Monoclonal IgG (incl. T cell engager) 57% 37% Fab-Heavy chain IgG-scFv Antibody-Drug (Knob-in-hole) Conjugate Variety in the format
Slide 23: Select OmniAb Partners
23 Select OmniAb Partners >65 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES
Slide 24: Key Performance Indicators
24 Key Performance Indicators TECHNOLOGY AND BUSINESS MODEL ARE HIGHLY SCALABLE Number of Active Number of Active Number of Active Clinical Programs and Programs Approved Products • Strong annual growth in key Partners 25 performance indicators continues 70 300 ‒ Active Partners:(1) >30% CAGR 60 250
Slide 25: Intellectual Property Advantage
25 Intellectual Property Advantage PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Over 300 patents issued worldwide Antibody Patent Applications Filed by Partners 70 • We maintain a broad intellectual property estate with mul
Slide 26: Business Model
26 Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: • Upfront and collaboration/access fees • Milestones • Royalties on commercial sales
Slide 27: Illustrative Antibody Deal Structure
27 Illustrative Antibody Deal Structure Profile A Profile B Potential IP Extension Potential IP Extension Year 0 5 10 15 20 25 Year 0 5 10 15 20 25 Collaboration/ Clinical & Regulatory Royalties: Collaboration/ Clinical & Regulatory Royalties: Access Fees: Milestones: ~Low Single Access Fees: Milest
Slide 28: Published Probability of Success and Timelines for Antibodies
28 Published Probability of Success and Timelines for Antibodies Cumulative from Cumulative from Time Range Probability of Success (1) Program Start Clinical Start in Stage Discovery 100.0% 100.0% ~4 Years Preclinical 51.0% 51.0% Phase 1 69.0% 35.2% 100.0% Phase 2 54.7% 19.2% 54.7% ~5 - 8 Years Phas
Slide 29: Building Blocks of Value
29 Building Blocks of Value New Partnership Deals (13 New Licenses signed in 2022) Royalties from Approved Products Milestones from Pre-Clinical and Clinical Progress Collaboration Revenue Novel Platform Technologies
Slide 30: Proforma Revenue & Operating Expense
30 Proforma Revenue & Operating Expense ('000s) 2021 2022 Q3 YTD Revenue Royalty revenue $ - $ 984 License and milestone revenue 14,664 7,826 Collaboration revenue 20,084 14,922 Total revenues 34,748 23,732 Operating costs and expenses: Research and development 39,232 35,445 Selling, general and adm
Slide 31: Cash Position Provides Long Operational Runway
31 Cash Position Provides Long Operational Runway ($ millions) 12/31/22 Cash Balance* ~ $88 Teclistamab/TECVAYLI First Commercial Sale Milestones $35 Received in January 2023 Proforma Cash Position ~ $123 * Includes cash, cash equivalents and marketable securities BUSINESS IS CLOSE TO BREAK-EVEN CAS
Slide 32: Share Information
32 Share Information AT TIME OF SPLIT – NOVEMBER 2022 Common Shares Outstanding (in millions) Ligand Shareholders 82.6 SPAC Shareholders 1.3 Earnout Share Summary Avista Shares 14.6 Basic Share Count 98.5 • Ligand shareholders received 0.75842 earnout shares for every Ligand share Earnout Shares own
Slide 33: Management and Board of Directors
33 Management Matt Foehr Kurt Gustafson Charles Berkman Bill Harriman, PhD Christel Iffland, PhD Marie-Cecile Doug Krafte, PhD Chief Executive Officer Chief Financial Officer Chief Legal Officer SVP, Antibody Discovery SVP, Antibody Technologies Van De Lavoir, PhD, DVM SVP, Ion Channels Board Member
Slide 34: Intelligent expansion of our technology platform
34 Intelligent expansion of our technology platform is informed by deep relationships with our broad base of partners
Slide 35: Our Key Areas of Focus Going Forward
Our Key Areas of Focus Going Forward 35 WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH WE LEVERAGE A HIGHLY Partnered Pipeline Development, Expansion and Advancement SCALABLE BUSINESS WHERE Continued Workfl
Slide 36: For more information, please visit www.omniab.com
36 For more information, please visit www.omniab.com
Slide 37: OmniAb's History
37 OmniAb’s History CUTTING-EDGE PLATFORM BUILT FROM >15 YEARS OF INVESTMENT AND STRATEGIC ACQUISITIONS 2008 2016 2017 2018 2019 2020 OMT, Inc. Acquired Acquired Acquired Acquired Acquired Founded OMT Crystal Bioscience Ab Initio Icagen Taurus (Computationally-Powered Antigen Design) Acquired xCella
Slide 38: Approved and Clinical-Stage Partner Pipeline as of 9/30/22
38 Approved and Clinical-Stage Partner Pipeline as of 9/30/22 NOW WITH THREE APPROVED PRODUCTS AND 22 ACTIVE CLINICAL-STAGE ANTIBODIES Partner Program Source Animal Therapy Area Target Preclinical Phase 1 Phase 2 Phase 3 Registration Approved Zimberelimab OmniRat Oncology PD-1 Sugemalimab OmniRat On