Circio Holding ASA · OSL:CRNA
Circio Holding ASA — Targovax — Q1 2020 Earnings Presentation
26 slides from Circio Holding ASA's earnings presentation, May 7, 2020
Slide 1: Activating the Patient's Immune System to Fight Cancer
ACTIVATING THE PATIENT’S IMMUNE SYSTEM TO FIGHT CANCER 1Q 2020 7 May 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: Intro & Highlights
Intro & Highlights 2. Dr Victor Levitsky, Chief Scientific Officer 3. Pipeline initatives 4. Financials 5. Newsflow 3
Slide 4: Growing Need for Immune Activators
GROWING NEED FOR IMMUNE ACTIVATORS CPIs are revolutionizing …but not all patients …leading to high medical cancer treatment… respond to CPIs… need for immune activators 22 bn USD Global CPI market1 44 % Patients eligible for CPI2: 10 - 40 % Responders 1 Immune Checkpoint Inhibitors Markets Report, 2
Slide 5: Activating the Immune System to Fight Cancer
ACTIVATING THE IMMUNE SYSTEM TO FIGHT CANCER ONCOS-102 lead clinical asset ONCOS oncolytic adenovirus platform targets hard-to-treat solid tumors One of the furthest developed OVs with >180 patients treated to date Four ongoing combination trials ensuring rich news flow in 2020 Encouraging clinical
Slide 6: ONCOS-102 Mode of Action Ideal Combination Partner for Checkpoint Inhibitors
ONCOS-102 MODE OF ACTION MAKES AN IDEAL COMBINATION PARTNER FOR CHECKPOINT INHIBITORS 1 Virus injection Local delivery 2 Oncolysis Immune activation 3 Antigen processing T-cell activation 4 T-cell response Anti-tumor immunity Intratumoral or intra- Lysis of tumor cells Antigen processing T-cell tumo
Slide 7: Several Significant BD Transactions in the Oncolytic Virus Space
SEVERAL SIGNIFICANT BD TRANSACTIONS IN THE ONCOLYTIC VIRUS SPACE IN 2018-2019 Target Type of deal Deal value Strategic collaboration USD 120m near-term Co-development of multiple USD >900m total value vaccinia viruses, Pre-clinical M&A USD 400m RNA virus, Phase II cash acquisition M&A USD 140m up-fr
Slide 8: ONCOS Development Strategy
ONCOS DEVELOPMENT STRATEGY 1 Establish path-to-market Mesothelioma o ~15.000 patients o Potential for first line, limited competition 2 Activate refractory tumors Anti-PD1 refractory melanoma o Few alternatives for ~50.000 patients o Benchmarking arena for immune activators 3 Expand CPI indications
Slide 9: ONCOS-102 Clinical Development Program
ONCOS-102 CLINICAL DEVELOPMENT PROGRAM o Randomized trial Mesothelioma o Combination with SoC chemo 1 Phase I/II 31 patients o Encouraging first set of clinical and immune data Anti-PD1 refractory o Combination with Keytruda Compassionate use Various tumors o program 115 patients Phase I 12 patients
Slide 10: Recent Highlights
RECENT HIGHLIGHTS Announced encouraging data in mesothelioma trial combining ONCOS-102 and chemotherapy Completed enrollment of melanoma trial ONCOS Entered into a collaboration to develop mutant RAS neoantigen coating of ONCOS viruses using Valo Therapeutic’s PeptiCRAd technology Announced that an
Slide 11: ONCOS-102 Mesothelioma Phase I/II Trial Study Design
ONCOS-102 MESOTHELIOMA PHASE I/II TRIAL IN COMBINATION WITH CHEMO STUDY DESIGN Experimental group n=14 Patient population Safety lead-in ONCOS-102 plus Non- n=6 SoC Chemo (6 cycles) Advanced malignant randomized Randomized pleural mesothelioma ONCOS-102 First and second (or later) plus SoC Chemo (6
Slide 12: 6-Months Data and Next Steps
ONCOS-102 MESOTHELIOMA PHASE I/II TRIAL 6-MONTHS DATA AND NEXT STEPS Excellent safety profile confirmed ONCOS-102 and SoC chemotherapy combination is well-tolerated Clinical activity observed mPFS of 8.9 months in first line suggest benefit for ONCOS-102 treated patients and compares favorably to hi
Slide 13: Limited Impact on Operations of COVID-19
LIMITED IMPACT ON OPERATIONS OF COVID-19 o Some hospital labs closed: samples from some patients not collected Data collection o Delayed monitoring may impact read-out timelines. Guiding not affected o Mesothelioma trial: fully recruited 2019 Patient recruitment o Melanoma trial: fully recruited Feb
Slide 14: Dr Victor Levitsky, Chief Scientific Officer
Dr Victor Levitsky, Chief Scientific Officer 3. Pipeline initatives 4. Financials 5. Newsflow 13
Slide 15: Victor Levitsky – Chief Scientific Officer
VICTOR LEVITSKY – CHIEF SCIENTIFIC OFFICER M.D. with Ph.D. in virology Associate professor and Principal Investigator at the Microbiology and Tumor biology center, Karolinska Institute, Stockholm, Sweden Associate professor at the Oncology Department, Johns Hopkins University School of Medicine Seni
Slide 16: Victor Levitsky – Chief Scientific Officer
VICTOR LEVITSKY – CHIEF SCIENTIFIC OFFICER Support optimal design, collection, analysis and scientific interpretation of data from the ongoing clinical trials Generate pre-clinical data sets to reveal full potential of available ONCOS200 series of vectors for selection of development lead candidates
Slide 17: Pipeline initiatives
Pipeline initatives 4. Financials 5. Newsflow 21
Slide 18: Next Generation ONCOS Viruses Have Double Transgenes and Distinct Modes of Action
NEXT GENERATION ONCOS VIRUSES HAVE DOUBLE TRANSGENES AND DISTINCT MODES OF ACTION Mode of action Target tumors ONCOS-210 & -212 o Interfere with tumor’s ability to o Highly invasive or Inhibition of tumor growth break down surrounding tissue metabolic tumors and vascularization o Induce cell cycle a
Slide 19: Merging Targovax Platforms to Generate a Mutant RAS Targeting Oncolytic Virus
MERGING TARGOVAX PLATFORMS TO GENERATE A FIRST-IN- CLASS MUTANT RAS TARGETING ONCOLYTIC VIRUS ONCOS-102 TG peptides ONCOS-TG PeptiCRAd Negative surface charge of Positively charged tail added Coating of TG peptides onto ONCOS-102 adenovirus capsid to TG mutant RAS peptides by electrostatic interacti
Slide 20: Financials
Financials 5. Newsflow 24
Slide 21: Sufficiently Funded to Advance Clinical Program Beyond Value Inflection Points
SUFFICIENTLY FUNDED TO ADVANCE CLINICAL PROGRAM BEYOND VALUE INFLECTION POINTS The company The shareholders Cash end of 1Q Estimated ownership1 135 13 Shareholder HealthCap Shares million Ownership 12.4 16.3 % NOK million USD million RadForsk 4.4 5.8 % Nordea 4.3 5.7 % Net cash flow - total 1Q Fjard
Slide 22: Reduced Opex in 1Q20 in Line with 3Q19
REDUCED OPEX IN 1Q20 IN LINE WITH 3Q19 NOK m 1Q19 2Q19 3Q19 4Q19 1Q20 Total revenue 0 0 0 2 0 External R&D expenses -19 -22 -14 -25 -13 Payroll and related expenses -14 -18 -8 -11 -11 Other operating expenses -7 -5 -5 -5 -5 Total operating expenses -40 -45 -27 -42 -30 Operating loss -40 -45 -27 -39
Slide 23: Newsflow
Newsflow ° targovax °
Slide 24: Pipeline with Rich Near-Term News Flow
PIPELINE WITH RICH NEAR-TERM NEWS FLOW Product candidate Preclinical Phase I Phase II Phase III Next expected event 1H 2020 Mesothelioma Updated clinical and Combination w/ pemetrexed/cisplatin immune data 2H 2020 Melanoma Clinical and immune Combination w/Keytruda activation data ONCOS-102 Peritone
Slide 25: Upcoming Events and Milestones
Upcoming events 12-15 May ASGCT, virtual conference Next-gen virus poster 26 May ABGSC Life Science Summit, virtual conference Company presentation 29-31 May ASCO, virtual conference Abstract presentation 22-24 Jun AACR, virtual conference Next-gen virus poster 10-11 Aug IO Summit, Boston, US Oral p
Slide 26: Activating the Immune System to Fight Cancer
ACTIVATING THE IMMUNE SYSTEM TO FIGHT CANCER CLINICALLY PROVEN INNOVATIVE RICH NEWS FLOW PIPELINE One of the furthest developed Next generation Clinical and immune activation oncolytic viruses virus platform in from mesothelioma and pre-clinical testing melanoma trials Strong single agent data Explo