Avacta Group Plc · LSE:AVCT
Avacta — FY2022 Earnings Presentation
33 slides from Avacta's earnings presentation, Apr 25, 2023
Slide 1: Avacta Group plc Preliminary Results
Avacta Group plc Preliminary Results for the Period Ending December 31st, 2022 25th April, 2023
Slide 2: Disclaimer
Disclaimer No representation or warranty, expressed or implied, is made or given by or on behalf of Avacta Group plc (the “Company” and, together with its subsidiaries and subsidiary undertakings, the “Group”) or any of its directors or any other person as to the accuracy, completeness or fairness o
Slide 3: Avacta Group plc Preliminary Results
Avacta Group plc Preliminary Results for the Period Ending December 31st, 2022 3
Slide 4: Preliminary Results Highlights
Preliminary Results Highlights Therapeutics – significant clinical and pre-clinical progress • Avacta’s lead pre|CISION™ drug, AVA6000 – a tumour microenvironment activated form of a chemotherapeutic agent, doxorubicin: • Favourable safety profile in the first four patient cohorts. • Doxorubicin det
Slide 5: Preliminary Results for the Year Ending 31st December 2022
Preliminary Results for the Year Ending 31st December 2022 Income Statement 2022 (£m) 2021 (£m) Revenue 9.65 2.94 Gross profit 7.24 2.02 Research/Manufacturing costs (11.10) (15.62) S, G & A costs (11.23) (8.14) Adjusted EBITDA (15.09) (21.74) Amortisation/Depreciation (8.18) (2.28) SBP/Share of Aff
Slide 6: Operating Segment Analysis
Preliminary Results for the Year Ending 31st December 2022 Operating Segment Analysis 2022 (£m) 2021 (£m) Dx Tx Central Total Dx Tx Central Total Revenue 4.17 5.48 - 9.65 0.78 2.16 - 2.94 Gross profit 1.89 5.35 - 7.24 0.56 1.46 - 2.02 Research/Manufacturing (2.31) (8.79) - (11.10) (5.81) (9.81) - (1
Slide 7: Cash Flow
Preliminary Results for the Year Ending 31st December 2022 Cash Flow 2022 (£m) 2021 (£m) Cash/short term deposits at 1 January 26.19 47.91 Operating cash outflows (16.43) (20.51) Investing activities (25.04) (1.31) Financing activities 56.90 0.23 Other 0.16 (0.13) Cash/short term deposits at 31 Dece
Slide 8: Balance Sheet
Preliminary Results for the Year Ending 31st December 2022 Balance Sheet 2022 (£m) 2021 (£m) Non-current assets 37.10 12.27 Current assets (exc. cash/deposits) 13.77 7.26 Cash/deposits 41.78 26.19 Assets held for sale - 1.28 Current liabilities (14.00) (4.37) Non-current liabilities (60.21) (1.41) N
Slide 9: Avacta Therapeutics Business Update
Avacta Therapeutics Business Update 9
Slide 10: Avacta Therapeutics: Vision and Strategy
Avacta Therapeutics Improving cancer patients’ lives through innovation and partnership VISION STRATEGY Our vision is to deliver • Use our proprietary innovative oncology pre|CISIONTM and Affimer® drugs that transform platforms to develop best-in- treatment outcomes to class and first-in-class cance
Slide 11: Avacta Therapeutics Pipeline – 2023
Avacta Therapeutics Pipeline – 2023 + / © Avacta Group plc 2023 (CONFIDENTIAL) 11
Slide 12: Targeting Payloads to the Tumour
Targeting Payloads to the Tumour Reducing systemic toxicities of chemotherapies and improving tolerability for patients through tumour-specific activation Common Doxorubicin Toxicities The Problem Alopecia pre|CISIONTM • Chemotherapy, cytotoxic agents • Targets the tumour tissue and and immunotherap
Slide 13: AVA6000: Targeting Doxorubicin to the Tumour
AVA6000: Targeting Doxorubicin to the Tumour Reducing the side-effects of doxorubicin through tumour-specific activation using the pre|CISIONTM technology AVA6000 Tumour Microenvironment Release of Active Doxorubicin Doxorubicin Cancer cells Naïve T cells 2 FAPa OH Macrophage B cells Cancer Associat
Slide 14: AVA6000: Ongoing Phase 1 Dose Escalation & Expansion Trial
AVA6000: Ongoing Phase 1 Dose Escalation & Expansion Trial Phase 1a Dose Escalation AVA6000 Dose Regimen - 3 weekly cycles (Doxorubicin Equivalent Dose) Primary Objectives • Safety and tolerability of AVA6000. • Maximum tolerated dose and/or recommended Cohorts 5-7 phase 2 dose of AVA6000. 250-400 m
Slide 15: Summary of ALS-6000-101 Phase I Dose Escalation Data
Summary of ALS-6000-101 Phase I Dose Escalation Data Positive safety profile and biopsies confirm release of doxorubicin in the tumour tissue at therapeutic levels • 22 patients with a range of solid tumours dosed across four dose escalation cohorts. • Currently dosing patients in the fifth cohort a
Slide 16: AVA6000: Phase Ib Study
AVA6000: Phase Ib Study Clinical development in Soft-Tissue Sarcoma (Phase 1 to 2) Development Rationale in Soft Tissue Sarcoma (STS) • Advanced, Metastatic STS tumours • Doxorubicin is the only therapy indicated for first-line monotherapy in advanced STS ` • No current or near future competition fo
Slide 17: Pre-clinical Programmes
Pre-clinical Programmes 17
Slide 18: AVA3996: A Novel Tumour Targeted Proteasome Inhibitor
AVA3996: A Novel Tumour Targeted Proteasome Inhibitor • The “proteasome” is the cell’s “garbage disposal” system that breaks down protein waste. AVA2727D • A working proteasomal degradation pathway (“garbage disposal”) is essential for a cell to survive. • Inhibiting the proteasome (turning off the
Slide 19: Proteasome Inhibitor Market
Proteasome Inhibitor Market • The global proteasome inhibitors market is Global Proteasome Inhibitors Market 2022 (~$1.7billion) expected to grow at a CAGR of 8.4% (2023-2028) to reach nearly USD 2.3 billion by 20261. • Proteasome inhibitors have severe dose limiting Market Share by Product toxiciti
Slide 20: In-vivo Efficacy in Multiple Tumour Models
In-vivo Efficacy in Multiple Tumour Models Melonoma Model Key Takeaways • AVA3996 is as effective in these different mouse PDX models as bortezomib and, in the case of the melanoma model, as trametinib. • Mice did not show the same toxicities when treated with AVA3996 as when they were treated with
Slide 21: Affimer Next-generation Biotherapeutics
Affimer® Next-generation Biotherapeutics What is an Affimer® ? Technical Benefits Differentiated Biotherapies Based on a naturally occurring human Smaller (14 kD), simpler and more robust, Flexible solutions for difficult-to-drug protein (stefin A) and engineered to soluble and stable than antibodie
Slide 22: Affimer Internal Research Programmes
Affimer® Internal Research Programmes AVA028 PDL1/Cytokine Bispecific AVA021 Next Generation Multispecific Tumour Microenvironment Activated Immunotherapies Drug Conjugates • Most patients either do not respond to immune • Exhausted T cells have a reduced ability to • Cytotoxin linked to immunothera
Slide 23: Key Partnerships
Key Partnerships 23
Slide 24: AffyXell – Joint Venture in the Cell & Gene Therapy
AffyXell – Joint Venture in the Cell & Gene Therapy A joint venture in South Korea with Daewoong Pharmaceutical to develop engineered mesenchymal stem cells that express and secrete immuno-modulatory Affimer molecules to treat autoimmune diseases Next-generation Stem Cell Therapies • Renewable “off
Slide 25: LG Chem – Multi-target Partnership
LG Chem – Multi-target Partnership A multi-target development partnership and licensing deal worth up to $310 million with a focus on oncology and inflammatory diseases PDL1/XT Antagonist • PD1/PDL1 axis Affimer inhibitor • Half-life extension using Affimer XT® a human serum albumin binder • Small s
Slide 26: Avacta Diagnostics Business Update
Avacta Diagnostics Business Update 26
Slide 27: Avacta Diagnostics: M&A Led Growth Strategy
Avacta Diagnostics: M&A Led Growth Strategy VISION MISSION Build an integrated and Innovate to make market differentiated in-vitro leading diagnostic diagnostics (IVD) business solutions available to all, with global reach serving to inform treatment and professionals and monitor health and consumer
Slide 28: Markets, Applications, Customers and the DX Value Chain
Markets, Applications, Customers and the DX Value Chain Supporting Healthcare Professionals Improving Access Centralised Testing Decentralised Testing Pathology Laboratory Rapid PoC Tests Self-sampling Diagnostics Value Chain Research Product Manufacturing Sales and Logistics and Development Marketi
Slide 29: Launch Rationale
Launch Diagnostics: Supporting Healthcare Professionals Launch Rationale • Leading UK IVD distributor Acquisition of a profitable with a growing business in distribution channel into France. centralised pathology • Established for over 30 laboratories with the market years. knowledge to help drive •
Slide 30: Launch Diagnostics
Launch Diagnostics Key Facts Launch by Numbers • Founded in 1990 and headquartered in UK. • FY21 £14.17M core, non-COVID related business. • Launch provides immunodiagnostic and • Total FY21 revenue £32.75M. molecular test products, technical support and • £23.85M UK and £8.90M France/Benelux. maint
Slide 31: Launch Diagnostics: Growth Opportunities
Launch Diagnostics: Growth Opportunities Opportunities for growth in sales and margin through geographical expansion, cross-selling to customers gained during the pandemic and expansion of product range Investment in Sales and Portfolio Expansion Geographical Expansion Marketing • Investment in sale
Slide 32: Summary
Summary Principle of tumour targeting through FAP activation of pre|CISIONTM mdified chemotherapy confirmed in AVA6000 phase 1 study. AVA3996, an FAP-activated proteasome inhibitor, showing positive pre-clinical data; now in IND enabling studies with FIH expected 2024. Launch Diagnostics: First acqu
Slide 33: www.avacta.com
www.avacta.com