Oxford Biomedica Plc · LSE:OXB
Oxford Biomedica — FY2018 Earnings Presentation
22 slides from Oxford Biomedica's earnings presentation, March 2019
Slide 1: Building the future: Preliminary results for the year ended 31 December 2018
Building the future Preliminary results for the year ended 31 December 2018 March 2019
Slide 2: Forward-looking statements
Forward-looking statements This presentation does not constitute an offer to sell or a solicitation of offers to buy Ordinary Shares (the “Securities”). Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair
Slide 3: 2018 Highlights
2018 Highlights • Delivery on Dual Strategy • $105 million collaboration and licence agreement with Bioverativ (now part of Sanofi) • $842.5 million exclusive worldwide agreement signed with Axovant Gene Sciences for AXO-Lenti- PD (previously OXB-102) for the treatment of Parkinson’s disease • Partn
Slide 4: Strategy: Leveraging our delivery platform
Strategy: Leveraging our delivery platform LentiVector® Platform IP – patents and know-how | Facilities | Expertise | Quality systems Arising IP Arising IP Technical and scientific knowledge transfer Investment into internal & R&D Investment external assets up to early Technical Developments clinica
Slide 5: Deal 1: Sanofi (Bioverativ) haemophilia partnership
Deal 1: Sanofi (Bioverativ) haemophilia partnership Sanofi (Bioverativ) partnership agreement signed in Feb-18 John G. Cox, CEO Bioverativ said: Product development Factor VIII and Factor IX preclinical agreement programmes for haemophilia A and B “Beginning with hemophilia, we will lead by doing wh
Slide 6: Deal 2: Axovant licence agreement
Deal 2: Axovant licence agreement Axovant Gene Therapies deal signed in Jun-18 Pavan Cheruvu, CEO Axovant said: World wide exclusive Unmet need in Parkinson’s disease “Axovant, together with our parent company licensing agreement for (includes all indications) Roivant, remains committed to developin
Slide 7: Deal 3: BI/UK CFGTC/Imperial Innovations
Deal 3: BI/UK CFGTC/Imperial Innovations BI/UK CFGTC/Imperial Innovations partnership agreement signed in Aug-18 Dr Clive Wood, Senior Corporate Vice Process Responsible for process & analytical President Discovery Research said: development development, scale up of manufacture and “Through this col
Slide 8: Building the Future – Capacity Expansion to 226,000 sqft
Building the Future – Capacity Expansion to 226,000 sqft Current Future WINDRUSH HARROW YARNTON DISCOVERY THE COURT HOUSE & FUTURE State of the art & FDA & MHRA INNOVATION (2020) laboratories CHANCERY approved FACILITY 4x cGMP GATE GMP (2019) production manufacturing & 2x filling FDA and MHRA Non GM
Slide 9: Extensive lentiviral vector clinical/pre-clinical trial activity
Extensive lentiviral vector clinical/pre-clinical trial activity FDA Commissioner – Scott Gottlieb (15 January 2019) "We anticipate that by 2020 we will be receiving more than 200 INDs [in gene and cell therapy products] per year, building upon our total of more than 800 active cell-based or directl
Slide 10: Platform pipeline
Platform pipeline Product Indication Pre-Clinical Phase I Phase I/II Phase II Phase III Approval LentiVector® platform Kymriah®1 r/r ALL Kymriah®1 r/r DLBCL 2nd CAR-T Cancer (multiple) AXO-Lenti-PD Parkinson’s disease Factor VIII Haemophilia A Process development and bioprocessing Factor IX Haemophi
Slide 11: Product pipeline
Product pipeline Product Indication Pre-Clinical Phase I Phase I/II Phase II Phase III Approval OXB Partnered Products Parkinson’s AXO-Lenti-PD disease Development SAR4224591 Stargardt disease milestones and royalties Usher syndrome SAR4218691 1B OXB Proprietary Unencumbered Products Corneal graft O
Slide 12: Financial review
Financial review
Slide 13: 2018 Financial Highlights
2018 Financial Highlights • 72% increase in gross income1 to £67.9 million (2017: £39.4 million) • Operating expenses2 increased by 38% to £31.7 million (2017: £22.9 million) • Operating EBITDA3 of £13.4 million (2017: EBITDA loss of £1.9 million) • Operating profit for the period of £13.9 million (
Slide 14: Gross income and EBITDA
Gross income1 and EBITDA2 Includes £18.3m Axovant and Gross income1 (£m) Bioverativ license fees 80 60 40 20 0 2014 2015 2016 2017 2018 Bioprocess & Commercial Development Licences, incentives, grants Operating EBITDA2 (£m) 2014 2015 2016 2017 2018 15.0 10.0 5.0 0.0 -5.0 -10.0 -15.0 1 Gross income =
Slide 15: Segmental analysis
Segmental analysis Platform segment (£m) Product segment (£m) 2016 2017 2018 2016 2017 2018 60 14 12 50 10 40 8 6 30 4 20 2 0 10 -2 0 -4 -6 -10 -8 1 2 Gross income Operating EBITDA Operating profit/loss Gross income Operating EBITDA Operating loss Platform segment Product segment • Gross income rece
Slide 16: Outlook for 2019
Outlook for 2019 • Expect gross income to continue to grow driven by: • Increasing Novartis bioprocessing and royalty income • Multiple revenue generating partners beyond Novartis • Expectation of additional new platform partnerships to be added during the year • Partnering discussions ongoing to ou
Slide 17: Expected newsflow
Expected newsflow Partners’ programmes Novartis 2nd CAR-T Royalty stream from programme in Novartis/CTL0191 development increasing in 2019 Orchard Therapeutics Sanofi (Bioverativ) Intends to file a BLA for ADA-SCID Sanofi gene therapy product for haemophilia A & B during 2020 progressing towards cli
Slide 18: Appendix
Appendix
Slide 19: Consolidated statement of comprehensive income
Consolidated statement of comprehensive income 19
Slide 20: Balance sheet
Balance sheet Group 2018 2017 £7000 £7000 Assets Non-current assets Intangible assets 117 97 Property, plant and equipment 31,791 25,370 Investments 10,966 2,954 42,874 28,421 Current assets Inventories 4,251 3,332 Trade and other receivables 30,585 17,088 Current tax assets 2,446 2,232 Cash and cas
Slide 21: Statement of cash flows
Statement of cash flows Group 2018 2017 £7000 £000 Cash flows from operating activities Cash generated from / (used in) operations (9,214) (1,533) Tax credit received 3,654 4,530 Overseas tax paid - (18) INet cash generated from / (used in) operating activities 12,868 2,979 Cash flows from investing
Slide 22: Contact Us
Contact Us Oxford Biomedica plc Windrush Court Transport Way Oxford OX4 6LT John Dawson Chief Executive Officer Stuart Paynter Chief Financial Officer Catherine Isted Head of Corporate Development & IR +44 (0) 1865 783 000 IR@oxb.com www.oxb.com