Seres Therapeutics, Inc. · NASDAQ:MCRB
Seres Therapeutics — Investor Presentation (August 2024)
26 slides from Seres Therapeutics's investor presentation, Aug 13, 2024
Slide 1: Seres Therapeutics Investor Presentation
Seres Therapeutics Investor Presentation August 13, 2024 Exhibit 99.2
Slide 2: Disclaimers: Forward Looking Statements
Disclaimers Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking
Slide 3: Disclaimers: Important Information about the Transaction
Disclaimers Important Information about the Transaction and where to Find it This presentation is being made in respect of the proposed transaction involving Seres Therapeutics, Inc., a Delaware corporation (“Seres”) and Société des Produits Nestlé S.A., a société anonyme organized under the laws of
Slide 4: Transforming patient outcomes using proprietary consortia of live biotherapeutics
Transforming patient outcomes using proprietary consortia of live biotherapeutics Strong foundation Validated platform with VOWST® clinical and regulatory success Asset sale strengthens balance sheet, expected to extend runway to Q4 ‘25 Wholly-owned cultivated pipeline: SER-155, SER-147, beyond Near
Slide 5: Validated Platform: VOWST FDA approval as first oral live microbiome therapeutic
Validated Platform: Seres pioneered the development and FDA approval of VOWST as the first-ever oral live microbiome therapeutic FDA approved (April 2023) to prevent the recurrence of C. difficile infection in adults Approximately 88% sustained clinical response rate (C. diff. recurrence, at up to 8
Slide 6: VOWST asset sale a transformational transaction for Seres
VOWST asset sale a transformational transaction for Seres KEY FINANCIAL TERMS VOWST asset purchase agreement provides infusion of capital and supports pipeline development Asset sale expected to extend operational runway into Q4 2025 Will retire debt and other obligations $100M upfront payment to Se
Slide 7: Potential to treat a range of vulnerable patient populations
Potential to treat a range of vulnerable patient populations Seres Therapeutics, Inc. © 2024 Blood cancers (including HSCT, CAR-T) Solid organ transplant ICU & long-term care patients Chronic liver disease Target population characteristics Opportunities to prevent bacterial infections and immune-rel
Slide 8: GI microbiome functional disruption leads to disease susceptibility
GI microbiome functional disruption leads to disease susceptibility Functionally disrupted Healthy GI Microbiome: Commensal microbes Pathogenic microbes Seres Therapeutics, Inc. © 2024 Pathogen domination Lost barrier & mucosal integrity Unfavorable immune responses IMPACTED BIOLOGY
Slide 9: Seres' biotherapeutics designed to restore functionality and health
Seres’ biotherapeutics designed to restore functionality and health Formulated for oral administration Bacteria selected based on desired functional properties Cultivated in Seres labs from master cell banks Bacteria engraft and restructure GI microbiome, restoring critical biology Pathogen inhibiti
Slide 10: Well-tolerated safety profile, reducing development risk
Seres’ biotherapeutics have well-tolerated safety profile, reducing development risk Sources: Nanayakkara et al, CA Cancer J Clin 2021; Penack et al, Blood Adv 2020; Zheng et al, Infect Dis Ther 2021 Seres Therapeutics, Inc. © 2024 Based on GI bacteria naturally found in healthy humans, and not asso
Slide 11: Near-term focus on SER-155 and SER-147
Near-term focus on SER-155 and SER-147 with potential to address expansive therapeutic opportunities Program Lead Indication & Development Stage Therapeutic Objectives Potential Additional Indications SER-155 Allogeneic HSCT: Ongoing Phase 1b Cohort 2 (placebo controlled) Reduce incidence of serious
Slide 12: SER-155 designed to reduce life-threatening complications of allo-HSCT
SER-155 is designed to reduce life-threatening complications of allo-HSCT Sources: CIBMTR 2023 US summary slides; Penack et al, Blood Adv 2020; Khan et al, Blood 2021; Peled et al, NEJM 2020; Stein-Thoeringer et al, Science 2019; Bleakley & Riddell, Nat Rev Cancer 2004 Only ~60% survival 3 years pos
Slide 13: GI pathogen domination frequent and associated with mortality in allo-HSCT
GI pathogen domination: frequent and associated with mortality in allo-HSCT Enterococcus domination in allo-HSCT associated with increased mortality allo-HSCT recipients frequently experience pathogen domination in GI tract Sources: Peled et al, NEJM 2020; Stein-Thoeringer et al, Science 2019; Kusak
Slide 14: SER-155 restores critical biology in murine and in vitro models
SER-155 restores critical biology in murine and in vitro models Seres Therapeutics, Inc. © 2024 Reduces known human pathogens in murine models Declining VRE titers Declining CRE titers Pathogen inhibition Barrier integrity Immune function Enhances epithelial barrier integrity in colonic epithelial m
Slide 15: Ongoing SER-155 Phase 1b study in adult HSCT recipients
Ongoing SER-155 Phase 1b study evaluating safety, pharmacology, and efficacy in adult HSCT recipients SER-155 COHORT 1 Open-label (n=13) COHORT 2 Placebo-controlled 1:1 (n=45 enrolled) Primary Endpoints: Safety and tolerability SER-155 bacterial strain engraftment Received US FDA Fast Track Designat
Slide 16: Cohort data demonstrate favorable safety and pathogen reduction
Cohort 1 data demonstrate favorable safety and pathogen reduction SER-155 well-tolerated - no serious attributed adverse events Engraftment of SER-155 bacterial strains confirmed Substantial reduction in cumulative incidence of pathogen domination, a biomarker associated with the risk of serious GI
Slide 17: Cohort 2 placebo-controlled clinical results anticipated in September 2024
Cohort 2 placebo-controlled clinical results anticipated in September 2024 Cohort 2 clinical outcomes (n=45 enrolled) Safety Profile Favorable safety profile would validate path forward in other vulnerable populations SER-155 Bacterial Engraftment and Desired Functional Pharmacology Engraftment woul
Slide 18: Viral prophylaxis provides precedent in medically vulnerable patients
Viral prophylaxis provides precedent in medically vulnerable patients Prevymis - increasingly used for viral infection prophylaxis (e.g., allo-HSCT and solid organ transplant populations) $605M ‘23 WW sales Reduces CMV infection in allo-HSCT recipients Lowers mortality rate Overall cost of allo-HSCT
Slide 19: SER-155 allo-HSCT commercial opportunity is meaningful
SER-155 allo-HSCT commercial opportunity is meaningful Serious bacterial infections are frequent, creating a strong medical rationale for prophylaxis to prevent infections and complications ~10K patients in U.S. and ~13K in top 15 EU markets Very high overall cost of allo-HSCT, and related cost of c
Slide 20: Accelerating SER-155 clinical development on positive Ph1b outcomes
Accelerating SER-155 clinical development on positive Ph1b outcomes Global SER-155 development and commercialization in broad range of indications in medically vulnerable populations Aim for global pivotal study in allo-HSCT Potential to follow successful precedent from VOWST development, utilizing
Slide 21: Anticipated SER-155 expansion in biologically adjacent populations
Anticipated SER-155 expansion in biologically adjacent populations Seres Therapeutics, Inc. © 2024 Sources: CIBMTR; Passweg et al, BMT 2021; US Organ Procurement & Transplantation Network; International Registry in Organ Donation and Transplantation; US National Cancer Institute SEER Program; Americ
Slide 22: SER-147 in development to prevent infections in chronic liver disease
SER-147 in development to prevent infections in chronic liver disease patients Substantial unmet need Promising preclinical data Sources: GBD 2017 Cirrhosis Collaborators, Lancet Gastroenterology & Hepatology 2020; United Nations world population data; Trebicka et al, J Hepatol 2020; Seres preclinic
Slide 23: End-to-end capabilities for live biotherapeutics discovery and development
End-to-end capabilities & expertise for discovery and development of bacterial live biotherapeutics GI microbiome biomarker & drug target identification Proven discovery, pharmacology, and clinical capabilities Clinical translation & patient subpopulation insights Lead candidate design, screening, o
Slide 24: Manufacturing platform delivers defined consortia in oral formulation
Manufacturing platform delivers defined consortia in oral formulation using cost-effective production Novel formulations enabling consistent drug product composition, drug stability for distribution, and targeted drug delivery Quality systems to ensure product quality and stability, extending prior
Slide 25: Maximizing opportunity going forward
Maximizing opportunity going forward SER-155 Allo-HSCT: September ‘24 Phase 1b readout; global pivotal study if successful Indication expansion in biologically adjacent populations (e.g., auto HSCT, CAR-T, blood cancers, solid organ transplants) Prevent life-threatening infections in additional popu
Slide 26: Summary and path forward
Summary and path forward Near-term SER-155 Phase 1b clinical results VOWST asset sale strengthens financial position Ongoing Phase 1b study in allo-HSCT patients for prevention of bacterial infections, febrile neutropenia, and acute GvHD Placebo-controlled Cohort 2 clinical data expected in Septembe
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