Oxford BioMedica plc · LSE:OXB
Oxford BioMedica — FY2019 Earnings Presentation
28 slides from Oxford BioMedica's earnings presentation, May 2020
Slide 1: A Global leading Lentiviral Vector Specialist
A Global leading Lentiviral Vector Specialist Preliminary results for the year ended 31 December 2019 May 2020
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: Strategy: Leveraging our LentiVector delivery platform
Strategy: Leveraging our LentiVector® delivery platform IP: patents and know-how Expertise ™ Facilities Platform Quality Systems Arising IP & Technical /Scientific Knowledge CDMO Transfer Gene Therapeutics 19 Partners’ Programmes 8 Proprietary Products Multiple Revenue Out- Internal Streams licence
Slide 4: CDMO
CDMO Customer-centric Leading provider of scale up solutions and commercial supply
Slide 5: CDMO: 2019 and post period highlights
CDMO: 2019 and post period highlights Novartis Partnership • In December 2019 Novartis extended its commercial supply agreement by a further five years and extended the collaboration from two to five programmes • Additional sixth CAR-T programme added in Q1 2020 Juno Therapeutics / BMS Partnership •
Slide 6: CDMO Pipeline – Page 1 of 2
CDMO Pipeline – Page 1 of 2 Product Indication Pre-Clinical Phase I Phase I/II Phase II Phase III Approval LentiVector® platform Kymriah®1 r/r ALL / r/r DLBCL 2nd CAR-T Cancer (multiple) 3rd CAR-T Cancer (multiple) 4th CAR-T Cancer (multiple) 5th CAR-T Cancer (multiple) Process development and biopr
Slide 7: CDMO Pipeline – Page 2 of 2
CDMO Pipeline – Page 2 of 2 Product Indication Pre-Clinical Phase I Phase I/II Phase II Phase III Approval LentiVector® platform OTL-101 ADA SCID OTL-201 MPS-IIIA Other undisclosed Process development and bioprocessing Factor VIII Haemophilia A revenues, and royalties Factor IX Haemophilia B CFTR ge
Slide 8: Novartis CAR-T partnership
Novartis CAR-T partnership Novartis partnership in place since 2014. 1st commercial supply agreement signed in 2017 and 5 year extension signed Dec 2019 with additional 6th programme added Q1 2020 News release (05 Sept 2018) Simon Stevens, Chief Executive NHS England said: Clinical and Kymriah® (tis
Slide 9: Juno Therapeutics / BMS CAR-T & TCR-T partnership
Juno Therapeutics / BMS CAR-T & TCR-T partnership Juno Therapeutics / Bristol Myers Squibb agreement signed in Mar-20 Press release (03 Jan 2020) Giovanni Caforio, M.D., Chairman and Chief Executive OXB to Licence to the platform for CAR-T Non- Officer of Bristol-Myers Squibb said: receive sales and
Slide 10: Gene Therapeutics
Gene Therapeutics Patient-centric Leveraging expertise to deliver lentiviral vector based gene therapies
Slide 11: Gene Therapeutics: 2019 and post period highlights
Gene Therapeutics: 2019 and post period highlights Axovant Progress • Axovant reported 3-month data from first cohort for AXO-Lenti-PD. Progression to the second dose cohort, triggering a $15 million milestone to Oxford Biomedica on dosing of the first patient • In January 2020, 12-month data from t
Slide 12: Gene Therapeutics pipeline
Gene Therapeutics pipeline Product Indication Pre-Clinical Phase I Phase I/II Phase II Phase III Approval OXB Partnered Products Parkinson’s Axo-Lenti-PD1 disease Development SAR4224592 Stargardt disease milestones and royalties Usher syndrome SAR4218692 1B OXB Proprietary Unencumbered Products Haem
Slide 13: Platform
Platform Innovation-centric Driving industrialisation of Lentiviral vectors
Slide 14: Platform: 2019 and post period highlights
Platform: 2019 and post period highlights Industrialisation of Lentiviral vectors • Oxford Biomedica is driving the industrialisation of lentiviral vectors though innovation Platform Innovation partnership with Microsoft • AI collaboration to improve gene and cell therapy manufacturing – yield and q
Slide 15: Proprietary platform innovation
Proprietary platform innovation Patient sample Next gen. vectors: Cell and vector Maximising analysis Regulation, targeting engineering to data integration increase and analysis bioprocessing yield Packaging and AI and machine producer cell lines learning USP and DSP Analytical dev. to characterise
Slide 16: Building industry leading know-how in multiple therapeutic areas
Building industry leading know-how in multiple therapeutic areas Oxford Biomedica is involved at all stages of development for both proprietary and partners’ lentiviral vector based products with a strong IP position Gene modified Ocular CNS Liver Respiratory cell therapies diseases disorders diseas
Slide 17: Financials, Outlook and Newsflow
Financials, Outlook and Newsflow
Slide 18: 2019 Financial Highlights
2019 Financial Highlights • Bioprocessing and commercial development revenues increased by 17% to £47.3 million (2018: £40.4 million) despite the capacity constraints within the business. • Licences, milestones & royalties revenues decreased by 36% to £16.8 million (2018: £26.4 million) with the £11
Slide 19: Revenue and Operating EBITDA
Revenue and Operating EBITDA1 Includes £18.3m Axovant and Revenue (£m) Bioverativ license fees 40 30 20 10 0 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 Bioprocessing & commercial development Licences, incentives, royalties &grants Operating EBITDA1 (£m) H1 2015 H
Slide 20: COVID-19
COVID-19 Assessment of COVID-19 potential impact The Group has conducted an assessment of the potential risks to the business and takes comfort from: • The day to day changes in working practices put in place to protect our employees seem to be effective, with work continuing on in as near to normal
Slide 21: Expected news flow 2020
Expected news flow 2020 Partner Programmes / CDMO YE 2019 YE 2020 • Two further partner contracts expected during 2020 • New facility (Oxbox) operational in H1 2020, post completion of construction in Dec 2019 • Novartis CAR-T programmes progress in development in 2020 • Oxford COVID-19 Vaccine cons
Slide 22: Positive outlook for 2020
Positive outlook for 2020 • Improved financial performance in 2020 building on growth of bioprocessing and commercial development partnerships and benefiting from Oxbox coming on stream • CDMO partnering discussions / feasibility studies ongoing – Group aims to increase number of partners and progra
Slide 23: 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
Slide 24: Appendix
Appendix
Slide 25: Segmental analysis
Segmental analysis Platform segment (£m) Product segment (£m) H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 2016 2016 2017 2017 2018 2018 2019 2019 2016 2016 2017 2017 2018 2018 2019 2019 35 35 30 30 25 25 20 20 15 15 10 10 5 5 0 0 -5 -5 -10 -10 -15 -15 Revenue Operating EBITDA Operating profit/lo
Slide 26: Consolidated statement of comprehensive income
Consolidated statement of comprehensive income Group 2019 2018 Total Total Continuing operations £’000 £’000 Revenue 64,060 66,778 Cost of sales (35,723) (33,261) Gross profit 28,337 33,517 Research, development costs (22,546) (17,973) Bioprocessing costs (7,378) (1,243) Administrative expenses (11,
Slide 27: Balance Sheet
Balance Sheet Group 2019 2018 £’000 £’000 Assets Non-current assets Intangible assets 95 117 Property, plant and equipment 61,932 31,791 Investments at fair value through profit and loss - 10,966 Trade and other receivables 3,605 4,000 Deffered tax assets 359 - 65,991 46,874 Current assets Inventori
Slide 28: Statement of cash flows
Statement of cash flows Group 2019 2018 £’000 £’000 Cash flows from operating activities Cash generated from/(used in) operations (6,636) 9,214 Tax credit received 3,128 3,654 Net cash generated from/(used in) operating activities (3,508) 12,868 Cash flows from investing activities Purchases of prop