Slide 1: Full Year 2023 Financial & Corporate Update
Full Year 2023 Financial & Corporate Update October 3, 2024
Slide 2: Agenda
Agenda Financial Update – FY 2023 results Commercial Update – TWYMEEG® (Imeglimin) Sales in Japan Agreement with OrbiMed to Monetize a portion of TWYMEEG® Royalties Amendments to loan agreements with IPF Partners and the PGE banks Poxel’s Development Strategy Conclusion & Q&A
Slide 3: Disclaimer
Disclaimer Some of the statements contained in this presentation constitute forward-looking statements. Statements that are not historical facts are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “ex
Slide 4: Financial Update – FY 2023 results
Financial Update – FY 2023 results
Slide 5: 2023 Revenue
2023 Revenue* Mainly reflecting royalty revenue from Sumitomo Pharma EUR (in thousands) FY FY • Revenue for 2023 reflects JPY 313 2022 2023 million (EUR 2 million) of royalty 12 months 12 months revenue from Sumitomo Pharma, which Sumitomo Agreement 673 1,981 represents 8% of TWYMEEG net sales in Ja
Slide 6: Statement of Comprehensive Income as of Dec. 31, 2023
Statement of Comprehensive Income as of Dec. 31, 2023* December 31, December 31, EUR (in thousands) 2022 2023 Represents royalties paid to Merck on sales of Imeglimin in Japan (fixed 8%, Revenue 674 1,981 independent of the level of sales) (672) (1,980) Cost of sales Gross margin 2 1 Decrease primar
Slide 7: Statements of Financial Position as of December 31, 2023 (Assets)
Statements of Financial Position as of December 31, 2023* Assets December December EUR (in thousands) 31, 2022 31, 2023 The decrease mostly reflects the depreciation of the PXL065 Intangible assets 16,606 10 (DeuteRx portfolio acquisition in 2018) Property, plant and equipment 1,323 121 Other non-cu
Slide 8: Statements of Financial Position as of December 31, 2023 (Equity and Liabilities)
Statements of Financial Position as of December 31, 2023* Shareholders’ Equity and Liabilities EUR (in thousands) December December 31, 2022 31, 2023 Mostly reflects FY2023 net loss Total shareholders' equity (18,241) (49,078) Employee benefits 252 9 Reflects debt IPF (€34m), PGE Non-current financi
Slide 9: Statements of Cash Flow as of Dec. 31, 2023
Statements of Cash Flow as of Dec. 31, 2023* EUR (in thousands) December December 31, 2022 31, 2023 Cash flows from operating activities (18,477) (12,692) before change in WC (-) Changes in working capital requirements (3,335) (1,286) Reflects operating loss net of non-cash Cash flows from operating
Slide 10: Commercial Update
Commercial Update TWYMEEG® (Imeglimin) Sales in Japan
Slide 11: TWYMEEG (Imeglimin): Strong Growth Trajectory
TWYMEEG® (Imeglimin): Strong Growth Trajectory Partnered in Japan, with Diabetes Market Leader, Sumitomo Pharma Collaboration Summary Commercial Strategy Update 1. Current promotion focused on combination therapy: add-on to DPPIV inhibitors, the market leader class in JP, Royalties 2. Combination wi
Slide 12: Agreement with OrbiMed to Monetize a portion of TWYMEEG Royalties
Agreement with OrbiMed to Monetize a portion of TWYMEEG® Royalties
Slide 13: Summary of the Royalty Monetization with OrbiMed and Debt Restructuring
Summary of the Royalty Monetization with OrbiMed and Debt Restructuring with IPF Partners and PGE banks • One time cash payment of USD 50 million (bonds issuance) from OrbiMed • In return, OrbiMed to obtain the royalties received by Poxel1 from sales of Royalty Monetization with TWYMEEG® by Sumitomo
Slide 14: Main terms of the Royalty monetization agreement with OrbiMed
Main terms of the Royalty monetization agreement with OrbiMed based on TWYMEEG® sales USD 7.5M Payments based on Partnership proceeds with in a deposit account & potential partnerships Gross Upfront Sales-based Potential additional Payment: Royalties payments proceeds USD 50M Until net sales of TWYM
Slide 15: Amendments to loan agreements
Amendments to loan agreements • Bond loan agreement contracted with IPF Partners • PGE loan agreement with banks
Slide 16: Amendment to loan agreements (1/2)
Amendment to loan agreements (1/2) Bond loan contracted with IPF Partners Economics Repayment Terms • Proceeds from USD 50M: Main Terms Additional sources EUR 23.7M paid • Poxel still owes: Deposit Royalties Cash flow Facility ▪ Remaining debt: EUR 12.3M on Tranche C 100% of the 75% of 75% of cash f
Slide 17: Amendment to loan agreements (2/2)
Amendment to loan agreements (2/2) PGE loan agreement with the banks Economics Amendment of the repayment schedule Interest rate • Proceeds from USD 50M: EUR 2.8M paid Remaining balance due with: Similar interest rate as current situation • Poxel still owe: • Quarterly repayment schedule ▪ Remaining
Slide 18: Poxel's Development Strategy
Poxel’s Development Strategy • Strategy in rare diseases • Ongoing partnership discussions on Imeglimin
Slide 19: Poxel's Development Strategy
Poxel’s Development Strategy Proven capabilities to lead drug development & build strong partnerships to enable future Continued focus on rare diseases with PXL770 and growth PXL065; finalize ongoing discussions (partners, investors etc.) to execute on development plans Return of Imeglimin rights fo
Slide 20: Focus on Rare Metabolic Diseases with PXL770 and PXL065
Focus on Rare Metabolic Diseases with PXL770 and PXL065 Approved/ Indication MOA Preclinical PH 1 PH 2 PH 3 Recent & Upcoming Milestones Marketed PXL770 • Orphan Drug Designations (2022) AMPK3 PXL770 ADPKD1 • Clinical PoC trial under preparation, pending Activator additional financing AMPK • Fast Tr
Slide 21: For Imeglimin, Sumitomo Pharma has returned rights to all territories ex-Japan (1/2)
For Imeglimin, Sumitomo Pharma has returned rights to all territories ex-Japan under the agreement (1/2) Poxel to continue regional partnering discussions Return of Imeglimin Rights under Sumitomo License Agreement • Ongoing focus by • As part of the return of • Positive topline results • Sumitomo t
Slide 22: For Imeglimin, Sumitomo Pharma has returned rights to all territories ex-Japan (2/2)
For Imeglimin, Sumitomo Pharma has returned rights to all territories ex-Japan under the agreement (2/2) Poxel to continue regional partnering discussions Continued ongoing partnering discussions to Sizeable pool of diabetic patient with Chronic drive Imeglimin development ex-Japan Kidney Disease (C
Slide 23: Conclusion
Conclusion Strategy & Outlook
Slide 24: Strategic & Outlook
Strategic & Outlook • Continue successful partnership with Sumitomo in Japan • Continue regional partnering discussions, incl. in China, the world’s PARTNERSHIPS second-largest type 2 diabetes market − ongoing advanced partnering discussions • Focus on rare diseases opportunity for PXL770 & PXL065 •
Slide 25: Q&A
Q&A Participants can submit questions in the chat
Slide 26: Key Financial & Shareholder Information
Key Financial & Shareholder Information Market data Shareholder ownership1 Bpi France 8.8% Founders Ticker: POXEL 6.2% ISIN: FR0012432516 Number of shares: 48,673,3431 Floating 84.9% Key financials Analyst coverage • As of 08/31/24, estimated cash & cash Degroof Petercam David Seynnaeve equivalents:
Slide 27: Contact
Contact investors@poxelpharma.com