Immunocore Holdings Plc · NASDAQ:IMCR
Immunocore — FY2023 Earnings Presentation
30 slides from Immunocore's earnings presentation, Feb 28, 2024
Slide 1: 4Q 2023 & FY 2023 Financial Results & Business Update
Transformative immunomodulating medicines for patients 4Q 2023 & FY 2023 Financial Results & Business Update
Slide 2: Forward-looking statements
This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “believe”, “expect”, “plan”, “anticipate” and similar expressions (as well as other words or expressions refe
Slide 3: Agenda
Agenda Overview & 2023 highlights Bahija Jallal, CEO Maximizing potential of KIMMTRAK® Ralph Torbay, Head of Commercial Advancing clinical portfolio & innovating for sustainable growth David Berman, Head of R&D Delivering on our promise Bahija Jallal, CEO Q&A Session 3 4Q23 & FY23 financial results
Slide 4: Our mission: transformative immunomodulating medicines
4 We want to radically improve outcomes for patients with cancer, infectious diseases, and autoimmune diseases, by pioneering and delivering transformative immunomodulating medicines
Slide 5: FY23 net sales with additional growth opportunities
$238.7M FY23 net sales with 3 Additional Growth Opportunities US Community & global expansion (mUM) Ph 2/3 trial in 2L+ advanced melanoma (TEBE-AM) Ph 3 trial in adjuvant uveal melanoma (ATOM) Maximizing potential of KIMMTRAK Up to 6K potential patients1 9 Active Clinical & Pre-clinical Programs PRA
Slide 6: Delivering across our three strategic pillars
Delivering across our three strategic pillars Ralph Torbay Head of Commercial Maximizing potential of KIMMTRAK Innovating for sustainable growth Advancing clinical portfolio 6
Slide 7: We continue to reach more patients with KIMMTRAK
7 1 Early Access Program (EAP). 2 US, Germany, France, Israel, Italy, Austria, Finland, Belgium, Switzerland, Slovenia, Australia and Canada. 3 Hassel, J., Piperno-Neumann, S. et al. New England Journal of Medicine 2023; 10.1056/NEJMoa2304753 We continue to reach more patients with KIMMTRAK 1L stand
Slide 8: KIMMTRAK growth in 2023
USD millions Q1 Net Revenues1 $51.6M Q2 Net Revenues1 $56.9M Q3 Net Revenues1 $62.6M Q4 Net Revenues1 $67.6M 8 Q1 23 Q2 23 Q3 23 Q4 23 1 Q1, Q2, Q3 & Q4 net revenues are unaudited 2 International denotes countries where Immunocore is commercializing through a partner 3 Final price negotiations conti
Slide 9: KIMMTRAK expansion opportunities in two late-stage trials
9 1 ctDNA is a dual primary endpoint for the Phase 2 portion. 2 EORTC: European Organisation for Research and Treatment of Cancer KIMMTRAK expansion opportunities in two late-stage trials Phase 2 topline data expected by 4Q 2024 Key endpoints Primary: Relapse-Free Survival (RFS) Secondary: Overall s
Slide 10: KIMMTRAK estimated market opportunity
10 1 Estimated number of HLA-A*02:01 positive patients per year in the US and EU KIMMTRAK’s 3 growth areas Continued growth in US and global launches (incl. EU) (FY23 net sales ~$239M) Phase 2/3 trial in 2L+ advanced cutaneous melanoma (TEBE-AM) (Phase 2 data expected 4Q 2024) Phase 3 trial in adjuv
Slide 11: Delivering across our three strategic pillars
Delivering across our three strategic pillars David Berman Head of Research & Development Innovating for sustainable growth Maximizing potential of KIMMTRAK Advancing clinical portfolio 11
Slide 12: PRAME franchise opportunity spans multiple solid tumors
PRAME is negative prognostic marker in multiple tumors PRAME broadly expressed in multiple tumors including: 12 PRAME franchise opportunity spans multiple solid tumors Cutaneous Melanoma NSCLC Ovarian Endometrial Candidate Opportunity IMC-F106C Up to 150,000 patients/year PRAME HLA-A02 IMC-P115C Hal
Slide 13: IMC-F106C (PRAME HLA-A02) next steps
13 IMC-F106C (PRAME HLA-A02) next steps Phase 1 2024 Data Plan Next Steps Phase 1 Data Cutaneous melanoma 2Q – Monotherapy and anti-PD1 combination 1Q - Start PRISM-MEL301 1L Melanoma Ovarian 3Q – Monotherapy and chemotherapy combination NSCLC 4Q – Monotherapy and combination data Endometrial Enroll
Slide 14: PRISM-MEL301: First-line advanced cutaneous melanoma
14 PRISM-MEL301: First-line advanced cutaneous melanoma First Phase 3 trial with IMC-F106C | Clinical trial collaboration and supply agreement with BMS 1 Use of nivolumab or nivolumab + relatlimab as control will be country specific. 2 BICR: blinded independent committee review Treatment phase Follo
Slide 15: IMC-R117C: First-in-class target PIWIL1 for colorectal & GI cancers
Negative prognostic marker in multiple cancers, role in tumor progression Expressed in CRC1, historically insensitive to IO, and across major subgroups2 25% CRC have broad PIWIL1 expression (with > 75% of tumor cells positive) 15 IMC-R117C: First-in-class target PIWIL1 for colorectal & GI cancers Eu
Slide 16: Ongoing clinical trial exploring potential functional cure in HIV
16 Ongoing clinical trial exploring potential functional cure in HIV Evaluating anti-viral activity of IMC-M113V before and after withdrawal of anti-retroviral therapy (ART) 1 Fun, Axel et al. Scientific reports vol. 7 43231. 2017. 2 Pardons M et al. PLoS Pathog 15(2), 2019, e1007619 Phase 1 goal is
Slide 17: Delivering across our three strategic pillars
Delivering across our three strategic pillars Advancing clinical portfolio Maximizing potential of KIMMTRAK Innovating for sustainable growth David Berman Head of Research & Development 17
Slide 18: Platform candidates now across therapeutic areas
18 Platform candidates NOW across 3 therapeutic areas Oncology ImmTAC Immune mobilizing monoclonal TCRs Against Cancer Infectious Diseases ImmTAV Immune mobilizing monoclonal TCRs Against Virus Autoimmune Diseases ImmTAAI Immune mobilizing monoclonal TCRs Against AutoImmune diseases Activation of th
Slide 19: ImmTAAI: tissue-specific, down modulation of the immune system
19 ImmTAAI: tissue-specific, down modulation of the immune system Vision Current Systemic immune suppression, even if inflammation in single tissue Future Down modulation of immune system localized to tissue under attack ImmSPECT: target peptide discovery engine >250K Unique peptides that are tissue
Slide 20: ImmTAAI: off-the-shelf, down modulation of immune system
20 ImmTAAI: off-the-shelf, down modulation of immune system Suppress T-cells only when ImmTAAI is tethered to target tissue 2. PD1 agonist suppresses T cells 3. Fc fusion infrequent dosing Designed for long half- life, infrequent dosing Suppresses T cell and NK cell activation Promotes T cell exhaus
Slide 21: IMC-S118AI (PPIxPD1) for type 1 diabetes
21 IMC-S118AI (PPIxPD1) for type 1 diabetes Pancreas-tethered ImmTAAI (HLA-A02) protects against killing by autoreactive T cells 1 Quantity measured as area under the curve. 2 Current Diabetes Reports (2023) 23:277–291 (~700K in US & ~700K in EU5) ImmTAAI binds specifically to pre-pro-insulin (PPI)
Slide 22: Universal candidate for dermatology
ImmTAAI binds specifically to APC in skin 22 Universal (non-HLA restricted) candidate for dermatology Antigen presenting cell (APC) tethered ImmTAAI inhibits T cell activation Potent inhibition of cytokine release Non-tethered ImmTAAI Tethered ImmTAAI ImmTAAI (nM) IL-2 release (%stim control) Potent
Slide 23: 4Q23 & FY23 financial results
4Q23 & FY23 financial results Brian Di Donato Chief Financial Officer & Head of Strategy 23
Slide 24: 4Q & 2023 GAAP Financials
24 4Q & 2023 GAAP Financials 3Q in US GAAP for comparison (in USD millions, except per share data) 1 Q1, Q2, Q3 & Q4 Financials are unaudited 2 International denotes countries where Immunocore is commercializing through a partner 3 Final price negotiations continue in France, sales based on accrual
Slide 25: Pro-Forma Cash
25 Pro-Forma Cash Unaudited and approximated Use of Proceeds We intend to use the net proceeds from the convertible note financing together with our existing cash and cash equivalents, to accelerate our clinical pipeline and for ongoing commercial expansion and repay loan under Pharmakon facility. C
Slide 26: Delivering on our promise
Delivering on our promise 26 Bahija Jallal Chief Executive Officer
Slide 27: Looking ahead
27 Looking ahead Commercial milestones Clinical milestones KIMMTRAK Continued global growth driving by the United States and additional launches 2024 KIMMTRAK Expansion Topline data from Ph 2 2L+ advanced cutaneous melanoma (TEBE-AM) 4Q 2024 First patient randomized in Ph 3 registrational adjuvant u
Slide 28: Leading bispecific TCR pipeline in three therapeutic areas
28 New candidate added to pipeline January 2024. 1 Platinum refractory or resistant serous ovarian carcinoma. 2 Program is wholly owned, development costs being provided by the Bill & Melinda Gates Foundation (BMGF), Immunocore retains all development and commercialization rights in the developed wo
Slide 29: Q&A Session
29 Bahija Jallal PhD Chief Executive Officer Ralph Torbay Head of Commercial Brian Di Donato Chief Financial Officer and Head of Strategy Mohammed Dar MD SVP, Clinical Development and Chief Medical Officer David Berman MD, PhD Head of Research and Development John Goll SVP, Finance and Chief Account
Slide 30: Thank you
IMMUNOCORE Thank you