Circio Holding Asa · OSL:CRNA
Circio Holding Asa — Targovax — H1 2017 Earnings Presentation
25 slides from Circio Holding Asa's earnings presentation, Aug 24, 2017
Slide 1: Arming the patient’s immune system to fight cancer
Arming the patient’s immune system to fight cancer 2Q & 1H 2017 presentation August 24th 2017 www.targovax.com
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: Highlights from the 1st half of 2017
Highlights from the 1st half of 2017 Signal of efficacy of TG01 in resected pancreatic cancer − 68% of patients alive after 2 years Clinical data − Median survival of 33.1 vs. 27.6 months for standard of care (historical control, ESPAC4 2017) − Data presented at the ASCO conference First patient rec
Slide 4: Agenda
Agenda Introduction to immunotherapy ONCOS-102 oncolytic virus platform TG RAS-peptide vaccine platform Targovax clinical program overview Financial highlights www.targovax.com 4
Slide 5: Immunotherapy has the potential to cure cancer
IMMUNOTHERAPY Immunotherapy has the potential to cure cancer Real world example – Patient in a Yervoy checkpoint inhibitor trial Week 108: complete remission Prior to Yervoy 1 year after www.targovax.com 5
Slide 6: The immunotherapy market is expected to boom over the next 10 years
CORPORATE The immunotherapy market is expected to boom over the next 10 years Estimated market size by major analysts ($Bn)* ~15% p.a. Science, December 2013 *Citi Research, Barclays Capital, Leerink Swann, BMO Capital Markets www.targovax.com 6
Slide 7: Most patients do not respond to currently available immunotherapies
IMMUNOTHERAPY Most patients do not respond to currently available immunotherapies Response rate to checkpoint inhibitors (CPIs) Melanoma ~40% Renal Cell carcinoma ~70% Complimentary Triple Negative Breast ~70%-80% immune priming medicines may make tumors respond Lung Carcinoma (NSCLC) ~80% better to
Slide 8: Targovax is developing two drugs to boost the effect of immunotherapy
ONCOS TG Targovax is developing two drugs to boost the effect of immunotherapy o Genetically tailored Adenovirus ONCOS-102 o Selectively infects and lyses cancer cells Oncolytic virus o Releases cancer antigens o Triggers immune response o Cocktail of 7 synthetic peptides acting as TG01 antigens to
Slide 9: Agenda
Agenda Introduction to immunotherapy ONCOS-102 oncolytic virus platform TG RAS-peptide vaccine platform Targovax clinical program overview Financial highlights www.targovax.com 9
Slide 10: ONCOS-102 makes tumors visible to the immune system
ONCOS TG ONCOS-102 makes tumors visible to the immune system Activate immune system: Train T-cells: Attack the cancer: o Virus injected directly into o APCs present tumor o Tumor specific T-cells the tumor / peritoneum specific antigens at lymph circulate in the body o Infected cells lyse and nodes
Slide 11: Phase I trial data in solid tumors: ONCOS-102 can make tumors hot
ONCOS TG Phase I trial data in solid tumors: ONCOS-102 can make tumors hot 10000 Change in CD8+ T-cell count after treatment with ONCOS-102 1000 Fold-change from baseline 100 10 1 0,1 FI1-08 FI1-19 FI1-06 FI1-04 FI1-18 FI1-02 FI1-15 FI1-13 FI1-09 FI1-17 FI1-01 FI1-14 6 patients 5 patients up to 5-fo
Slide 12: Targovax has initiated a broad clinical program to test ONCOS-102
ONCOS TG Targovax has initiated a broad clinical program to test the clinical benefit of ONCOS-102 o Combination with PD-1 Melanoma CPI in refractory patients Phase I o Proof-of-concept 12 patients o Memorial Sloan Kettering Mesothelioma o Combination with chemo Phase I/II - controlled o Randomized
Slide 13: Agenda
Agenda Introduction to immunotherapy ONCOS-102 oncolytic virus platform TG RAS-peptide vaccine platform Targovax clinical program overview Financial highlights www.targovax.com 13
Slide 14: The survival rate for pancreatic cancer patients has not improved since the 1970s
ONCOS TG The survival rate for pancreatic cancer patients has not improved since the 1970s Improvement in 10 year survival rate % change over 40yrs. 1972–2012 No improvement in survival over the past 40 years www.targovax.com 14
Slide 15: The RAS gene is mutated in >85% of pancreatic cancer patients
ONCOS TG The RAS gene is mutated in >85% of pancreatic cancer patients, making it an interesting therapeutic target Incidence of RAS mutations One of the most common 100% mutations in cancer RAS is a well-defined neoantigen Results in cell division 50% permanently switched on No existing therapies t
Slide 16: The TG neoantigen vaccine primes the immune system to destroy RAS mutated cancer cells
ONCOS TG The TG neoantigen vaccine primes the immune system to recognize and destroy RAS mutated cancer cells Activate immune system: Train T-cells: Attack the cancer: o TG vaccine injected o APCs present RAS o RAS specific T-cells intradermally antigens in lymph node identify cancer cells o APCs pi
Slide 17: The TG vaccine has shown 20% 10-year survival in earlier Phase I trials
ONCOS TG The TG vaccine has shown 20% 10 year survival in earlier Phase I trials in resected pancreatic cancer 10 year survival from historical TG trials in resected pancreatic cancer (monotherapy) 100 90 o 4/20 (20%) treated patients 80 alive after 10 years Survival (%) 70 o 0/87 untreated patients
Slide 18: Data corroborated in a Phase I/II trial in combination with standard of care
ONCOS TG These data were corroborated in a recent Phase I/II trial in combination with modern standard of care Results from TG01-01 trial in resected pancreatic cancer (combination with Gemcitabine) 2 year overall 13 of 19 patients (68%) alive 2 years after surgery survival Historical controls 2 yea
Slide 19: Clinical development overview for TG01 – Targovax is seeking potential partnership
ONCOS TG Clinical development overview for TG01 – Targovax is seeking potential partnership Historical trials Completing trial Planned / recruiting trials Resected pancreas o 2 arm, controlled trial Phase II/III o Aimed to reach registration N=tbd o Currently seeking partner Phase I Phase I/II Resec
Slide 20: Agenda
Agenda Introduction to immunotherapy ONCOS-102 oncolytic virus platform TG RAS-peptide vaccine platform Targovax clinical program overview Financial highlights www.targovax.com 20
Slide 21: Two platforms and six clinical trials ensure frequent data readouts
ONCOS TG Two platforms and six clinical trials ensures a program with frequent data readouts Cancer Combined 2017 2018 2019 indication with H1 H2 H1 H2 H1 Melanoma CPI Phase l ONCOS-102 Mesothelioma Chemo* Orphan ind. Phase lb/ll Ovarian & Orphan ind. CPI Phase l/ll Colorectal Sponsor: Ludwig Prosta
Slide 22: Agenda
Agenda Introduction to immunotherapy ONCOS-102 oncolytic virus platform TG RAS-peptide vaccine platform Targovax clinical program overview Financial highlights www.targovax.com 22
Slide 23: Targovax has a sound financial position, with cash to complete the planned clinical program into 2019
CORPORATE Targovax has a sound financial position, with cash to complete the planned clinical program into 2019 Raised NOK 200 million in private placement June 8 2017 10,000,000 new shares @ NOK 20 per share Operations Cash end of Q2 NOK 116m USD 14m June 30st 2017 Net cash flow NOK -32m USD -4m To
Slide 24: The shareholder base is strong, with a mix of specialist, generalist and retail investors
CORPORATE The shareholder base is strong, with a mix of specialist, generalist and retail investors Shareholder Estimated ownership Shares m Relative Key international investors participating in PP 2017 HealthCap Sweden 12,4 23,6 % – Nyenburgh (NL) Nordea Norway 4,7 8,9 % – Trium (UK) RadForsk Norwa
Slide 25: Planned strong news flow with multiple near term value inflection points
FINANCE Planned strong news flow with multiple near term value inflection points ONCOS-102 Initiate phase l/ll melanoma TG02 ONCOS-102 Initiate phase Ib in Initiate phase l colorectal Ovarian/colorectal TG01 ONCOS-102 Oslo Stock Exchange ONCOS-102 Initiate phase l/ll Listing on OSE main Initiate pha