Circio Holding Asa · OSL:CRNA
Circio Holding Asa — Targovax — Q3 2020 Earnings Presentation
28 slides from Circio Holding Asa's earnings presentation, Nov 5, 2020
Slide 1: Activating the Patient's Immune System to Fight Cancer
ACTIVATING THE PATIENT’S IMMUNE SYSTEM TO FIGHT CANCER 3Q 2020 5 November 2020
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This report contains certain forward-looking statements based on uncertainty, since they relate to events and depend on circumstances that will occur in future and which, by their nature, will have an impact on the results of operations and the financial condition of
Slide 3: Introduction and highlights
Introduction and highlights 2. Finance 3. Colorectal 4. Mesothelioma 5. Melanoma 6. Summary 3
Slide 4: Targovax at a Glance
TARGOVAX AT A GLANCE Lead product ONCOS-102 directed to the $20+ billion market for checkpoint inhibitors Encouraging clinical and immune data with ONCOS-102 Pipeline with multiple additional value-creating opportunities Active near-term news flow includes significant trial data Strong patent positi
Slide 5: Medical Need for Immune Activators
MEDICAL NEED FOR IMMUNE ACTIVATORS CPIs are revolutionizing …but only a minority of …leading to a high medical cancer therapy… patients respond… need for immune activators $20+ bn Global CPI market1 44% Patients eligible for CPI2: 10 - 40% Responders 1 Immune Checkpoint Inhibitors Markets Report, 20
Slide 6: Pipeline with Rich Near-Term News Flow
PIPELINE WITH RICH NEAR-TERM NEWS FLOW Product candidate Preclinical Phase 1 Phase 2 Collaborator Next expected event Mesothelioma 2H 2020 Combination w/ pemetrexed/cisplatin Survival data Melanoma 2H 2020 Combination w/Keytruda Part 2 clinical data ONCOS-102 Colorectal Update by collaborator Combin
Slide 7: Recent Highlights
RECENT HIGHLIGHTS Successfully completed Part 1 in the colorectal cancer trial, combining Colorectal ONCOS-102 with Imfinzi (duravalumab) cancer Efficacy threshold was met and recruitment in Part 2 with 14 additional patients is opened Abstract accepted at the Society for Immunotherapy of Cancer (SI
Slide 8: World-Renowned Experts in Immuno-Oncology Research
SCIENTIFIC ADVISORY BOARD WORLD-RENOWNED EXPERTS IN IMMUNO-ONCOLOGY RESEARCH Raphael Clynes, MD, PhD Dmitriy Zamarin, MD, PhD Dean A. Fennell, MD, PhD o Vice President, o Medical oncologist and o Professor in Thoracic Translational Biology at Research Director for Medical Oncology and Xencor, USA Gy
Slide 9: Expanding Mutant RAS Platform Through Strategic Partnerships
EXPANDING MUTANT RAS PLATFORM THROUGH STRATEGIC PARTNERSHIPS Targovax mutRAS immunotherapy strategy Ongoing mutRAS initiatives o Test new indications Option to license TG vaccines for o Test new combinations Greater China and Singapore Expand mutRAS clinical use o Test new adjuvant Clinical stage o
Slide 10: Finance
Finance 3. Colorectal 4. Mesothelioma 5. Melanoma 6. Summary 10
Slide 11: Continued Cost Control in 3Q20
CONTINUED COST CONTROL IN 3Q20 NOK m 3Q19 4Q19 1Q20 2Q20 3Q20 Total revenue 0 2 0 0 0 External R&D expenses -14 -25 -13 -14 -9 Payroll and related expenses -8 -11 -11 -11 -9 Other operating expenses -5 -5 -5 -5 -4 Total operating expenses -27 -42 -30 -30 -22 Operating loss -27 -39 -29 -30 -22 Net fi
Slide 12: Extended Runway with a NOK 75 Million Capital Raise
EXTENDED RUNWAY WITH A NOK 75 MILLION CAPITAL RAISE The raise The shareholders1 Shareholder Estimated ownership Strong market sentiment Shares m Relative Important to extend runway HealthCap 12.4 14.3 % 10.3m new shares RadForsk 4.4 5.1 % Multiple times oversubscribed Nordea 4.3 4.9 % AP-4 4.0 4.6 %
Slide 13: Funded Well Beyond Important Value Inflection Points
FUNDED WELL BEYOND IMPORTANT VALUE INFLECTION POINTS The company Share liquidity Cash at end of 3Q Raised NOK 79% of shares traded last 6 month 78 8 75m in Share turnover per month1 NOK million USD million Oct 2020 Million shares Net cash flow - total 3Q -24 -2.5 NOK million USD million Market cap 5
Slide 14: Colorectal
Colorectal 4. Mesothelioma 5. Melanoma 6. Summary 14
Slide 15: Microsatellite-Stable Metastatic Colorectal Cancer
MICROSATELLITE-STABLE METASTATIC COLORECTAL CANCER HIGH UNMET MEDICAL NEED Patient population Standard of Care (SoC) Stage IV MSI-S CRC with Platinum chemotherapy spread to peritoneum Response in <50% of patients Approx. 50.000 patients Lonsurf can be used on relapse per year globally Experimental t
Slide 16: Phase 1/2 Trial Combining ONCOS-102 and Imfinzi
STRONG COLLABORATION IN COLORECTAL CANCER WITH PHASE 1/2 TRIAL COMBINING ONCOS-102 AND IMFINZI Collaboration Patient population Colorectal cancer with peritoneal metastases Refractory to standard-of-care platinum chemotherapy Intraperitoneal admin of ONCOS-102 Dose escalation Expansion Safety lead-i
Slide 17: Signs of Efficacy and Dose Response in Safety Lead-in
SIGNS OF EFFICACY AND DOSE RESPONSE IN SAFETY LEAD-IN Disease control Tumor change1 and best overall response Dosing cohorts (best response) by RECIST 1.1 Cohort C A: Low-dose ONCOS-102 0 of 2 120 Cohort B PD then Imfinzi 100 Cohort A 80 B: Low-dose ONCOS-102 + 0 of 2 PD Cohort C 60 Imfinzi 40 PD PD
Slide 18: Mesothelioma
Mesothelioma 5. Melanoma 6. Summary 18
Slide 19: Pressing Need for New Treatment Approaches in Malignant Pleural Mesothelioma
PRESSING NEED FOR NEW TREATMENT APPROACHES IN MALIGNANT PLEURAL MESOTHELIOMA Surgery Radiotherapy Only 10% of patients Rarely effective due to suitable for resection tumor shape and location Often diagnosed too Hard to focus radiation late for surgery Mainly Technically challenging palliative care C
Slide 20: 1st Line Ipilimumab/Nivolumab Data and Impact
1ST LINE IPILIMUMAB/NIVOLUMAB DATA AND IMPACT The new BMS data mOS 18.1 months vs chemo 14.1 months led to FDA approval Significant benefit in small (15-20%) subgroup of non-epithelioid histology Non-significant difference in main (80-85%) epithelioid histology Anticipated clinical practice impact U
Slide 21: 1st-Line ORR & PFS Data Compare Favorably to Historical Control
1ST-LINE ORR & PFS DATA COMPARE FAVORABLY TO HISTORICAL CONTROL ONCOS-102 +Pem/cis ORR / BORR Pem/cis (or carbo) Ipi+nivo 50 45 Scagliotti Baas 20194 20205 40 35 Baas ipi/nivo 20205 Targovax experimental 30 group, ORR7 Vogelzang Targovax control 25 20032 Zalcman Tsao Ceresoli 20166 20 20191 2006, BO
Slide 22: ONCOS-102 Drives Broad & Powerful Immune Activation
ONCOS-102 DRIVES BROAD & POWERFUL IMMUNE ACTIVATION ASSOCIATED WITH CLINICAL OUTCOME CD8+ T-cells -fold change Key Findings • Powerful immune activation vs control Cytotoxic CD8+ T-cells across all 6 parameters analysed in PD-L1 expression -fold change mesothelioma -fold change • Immune activation p
Slide 23: Clinical & Immune Data Support CPI Triple-Combo
CLINICAL & IMMUNE DATA SUPPORT CPI TRIPLE-COMBO Excellent safety profile confirmed ONCOS-102 and SoC chemotherapy combination is well-tolerated Clinically we see Favorable mPFS and 1-year survival rate in 1st-line ONCOS-102 patients ONCOS-102 mode-of-action confirmed Powerful immune activation assoc
Slide 24: Melanoma
Melanoma ° targovax °
Slide 25: ONCOS-102 Efficacy Competitive in Anti-PD1 Refractory Melanoma
ONCOS-102 EFFICACY IS COMPETITIVE TO LEADING DRUG CANDIDATES IN ANTI-PD1 REFRACTORY MELANOMA CR PR Comment 11% 22% 33% ORR o Adenovirus expressing GM-CSF ONCOS-102 (3/9 pts.) 31% ORR o Herpes virus expressing GM-CSF retreatment RP1 0 31% (5/16 pts.) and GALV Anti-PD1 25% ORR o TLR-9 agonist CMP-001
Slide 26: Summary
Summary 26
Slide 27: Track Record of Strong Execution with Multiple Upcoming Value Inflection Points
TRACK RECORD OF STRONG EXECUTION WITH MULTIPLE UPCOMING VALUE INFLECTION POINTS 2020 2021 H1 H2 H1 Mesothelioma ✓ Mesothelioma Mesothelioma 18 month survival 24 month survival 12 month data follow-up follow-up Merck: ✓ Melanoma Part 2 data Mesothelioma ONCOS-102 Keytruda supply for Keytruda combo me
Slide 28: Targovax at a Glance
TARGOVAX AT A GLANCE Lead product ONCOS-102 directed to the $20+ billion market for checkpoint inhibitors Encouraging clinical and immune data with ONCOS-102 Pipeline with multiple additional value-creating opportunities Active near-term news flow includes significant trial data Strong patent positi