Omniab, Inc. · NASDAQ:OABI
Omniab — Credit Suisse 31st Annual Healthcare Conference 2022
43 slides from Omniab's conference presentation, Nov 9, 2022
Slide 1: OmniAb, Inc.
1 OmniAb, Inc. Nasdaq: OABI Credit Suisse - 31st Annual Healthcare Conference Rancho Palos Verdes, CA November 7-10, 2022
Slide 2: Disclaimer
2 Disclaimer We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business stra
Slide 3: OmniAb, Inc.
3 OmniAb, Inc. OUR BUSINESS MODEL IS FOCUSED ON LICENSING OUR PROPRIETARY DISCOVERY TECHNOLOGY ONE OF THE LARGEST GREENFIELDS IN THE PHARMA INDUSTRY $236 BILLION TOTAL ADDRESSABLE MARKET FOR ANTIBODIES BY 2025 LEADING AND PROVEN GLOBALLY-RECOGNIZED TECHNOLOGY SCIENCE AND TEAM GROWING ROSTER OF PARTN
Slide 4: Mission
Our mission is to enable the rapid Mission development of innovative therapeutics by pushing the frontiers of drug discovery technologies.
Slide 5: The OmniAb Platform
5 The OmniAb Platform LICENSES TO OUR TECHNOLOGY PLATFORM ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Create Diverse Pools of High-Quality Screen Millions of Cells to Find Further Cha
Slide 6: Antibodies and Industry Demand
6 Antibodies and Industry Demand HIGHER SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY’S NEED FOR DISCOVERY TECHNOLOGY Acceleration of Regulatory Increasing Antibody Market Approvals (FDA and EMA) • $236B in antibody sales by 2025 (up from ~$212B in 2021) 70 • 49 blockbuster antibodies in 2
Slide 7: The OmniAb Platform
7 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Create Diverse Pools of High-Quality Screen Millions of Cells to Find Further Characterize, Select & Naturally-Optimized Antibodies Potential Therapeutic Candidates Optimize the Right Antibody
Slide 8: What is Biological Intelligence™?
8 What is Biological Intelligence™? • We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles • The ability
Slide 9: The OmniAb Platform
9 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Antibody Generation Technologies We believe generating large and diverse pools of high-quality antibodies increases the likelihood of Computational discovering the antibody with the Antigen Des
Slide 10: Rodent Platforms
10 Rodent Platforms • Endogenous Ig genes inactivated Light chain loci Heavy chain locus • Expression of full human V gene VL J CL VH DH JH ECCg1 Cg2b e a diversity + Fully human LC Human V, D, Rat constant • Streamlined conversion into fully J human molecule VJ C VDJ C mRNA Human Antibody Well-va
Slide 11: OmniChicken
11 OmniChicken POWERED BY EVOLUTION 300 million years Primordial target gene 95 million years Chicken orthologue Murine orthologue Human orthologue GREATER EVOLUTIONARY DISTANCE YIELDS GREATER IMMUNOGENICITY AND MORE ANTIBODY DIVERSITY
Slide 12: OmniTaur: Ultralong CDRH3s Create Novel Binding Domains
12 OmniTaur: Ultralong CDRH3s Create Novel Binding Domains UNIQUE STRUCTURAL FEATURES OF ULTRALONG H3 ANTIBODIES CDRH3 Human Cow • Novel structure may enable targeting epitopes unreachable by standard antibodies • Long H3 domains can be expressed on human VH framework, or alone as ~5kD Picobodies™ S
Slide 13: Common Light Chain Platforms for Bispecific Antibodies
13 Common Light Chain Platforms for Bispecific Antibodies STANDARD IgG FORMAT TO DE-RISK DOWNSTREAM DEVELOPMENT† Bispecifics are a growing area of therapeutics (20% of mAbs in clinic) ~30% of new OmniAb programs seek to use OmniFlic or OmniClic Rearranged IgVK3-15/JK1 JK2-5 IgKC IgVK3-15/JK1 / / Rea
Slide 14: Antibody Repertoires
14 Antibody Repertoires NUMEROUS OPTIONS AVAILABLE TO ADDRESS DIVERSE PARTNER OBJECTIVES Structural and Benefits for therapeutics Host V genes immunological features discovery and development • Full human V gene diversity • Diverse V gene usage and mixed • Widely accessible and flexible workflows •
Slide 15: Screening Platforms
15 Screening Platforms Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Immunization Isolate B-cells Expression Validation Sequence Bioinformatics Hybridoma Workflow Fusion Screen enrichment Single-cell B-cell optional NGS Workflow Our powerful single B-cell scree
Slide 16: The OmniAb Platform
16 The OmniAb Platform Create Diverse Screen Antibody Identify the Antibody Pools Candidates Right Antibody Our discovery teams are flexibly positioned to work closely with partners to identify the right antibody • Data from multi-parameter screening and performance assays used in combination with b
Slide 17: Ion Channels and Transporters
17 Ion Channels and Transporters WE HAVE EXTENSIVE BIOLOGICAL CAPABILITIES FOR ION CHANNELS AND TRANSPORTERS Proprietary assays leveraged for Proprietary cell lines enable discovery and characterization of high-speed antigen production antibodies Create Diverse Screen Antibody Identify the Antibody
Slide 18: Leveraging Biological Intelligence™ with Computational Tools
18 Leveraging Biological Intelligence™ with Computational Tools Biological Intelligence • Antibody homology modeling Model-aided optimization • Computational antibody optimization • Sequence liability assessment In silico • Comparison to clinical antibodies developability • Structure-based calculati
Slide 19: OmniAb’s History
19 OmniAb’s History BEST-IN-CLASS PLATFORM BUILT FROM ̴ 15 YEARS OF INVESTMENT AND STRATEGIC ACQUISITIONS 2008 2016 2017 2018 2019 2020 OMT Acquired OMT Acquired (OmniRat, Acquired Acquired Founded Crystal OmniMouse) Icagen Taurus BioScience (Ion Channel (OmniTaur) (OmniChicken) Technology) Acquired
Slide 20: Growth of Partner Programs
20 Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 282 as of 09/30/22(2) Phase 3: 2 21 as of 2016(1) Phase 2: 2 Phase 1: 18 Approved: 3 Preclinical: 12 Preclinical: 1 Discovery: 20 Substantial progress in all phases, increase in discovery programs expected
Slide 21: Antibody Repertoire Source Used
21 Antibody Repertoire Source Used ACTIVE PARTNER PROGRAMS DISTRIBUTION OF ANTIBODY REPERTOIRE SOURCE USAGE SOURCES USED TOGETHER FOR BISPECIFICS + Combination of OmniAb sources + 24% 24% 14% 62% Single OmniAb Source 76% + Multi-species platform provides partners even more diverse repertoires and ne
Slide 22: Diverse Drug Formats and Modalities
22 Diverse Drug Formats and Modalities PRECLINICAL AND CLINICAL OMNIAB MOLECULES FORMATS MODALITIES IgG Duobody® ADAPTIR™ ADC (IgG4 exchange) scFv-Fc-scFv 6% Bispecific Monoclonal IgG (incl. T cell engager) 57% 37% Fab-Heavy chain IgG-scFv Antibody-Drug (Knob-in-hole) Conjugate Variety in the format
Slide 23: Select OmniAb Partners
23 Select OmniAb Partners >65 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES
Slide 24: Key Performance Indicators
24 Key Performance Indicators TECHNOLOGY AND BUSINESS MODEL ARE HIGHLY SCALABLE Number of Active Number of Active Number of Active Clinical Programs and Partners Programs Approved Products • Strong annual growth in key 25 performance indicators continues 70 300 ‒ Active Partners:(1) >30% CAGR 60 250
Slide 25: Intellectual Property Advantage
25 Intellectual Property Advantage PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Over 300 patents issued worldwide Antibody Patent Applications Filed by Partners 70 • We maintain a broad intellectual property estate with mul
Slide 26: Business Model
26 Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: • Upfront and collaboration/access fees • Milestones • Royalties on commercial sales
Slide 27: Illustrative Revenue Profiles for Successful Partnered Programs
27 Illustrative Revenue Profiles for Successful Partnered Programs WEIGHTED TOWARDS DOWNSTREAM SUCCESS Flexible transaction structures enable optionality for partners while maintaining value for OmniAb Profile A Profile B Upfront and Collaboration / Access Clinical Milestones Commercial Milestones /
Slide 28: Illustrative Antibody Deal Structure
28 Illustrative Antibody Deal Structure Profile A Profile B Potential IP Extension Potential IP Extension Year 0 5 10 15 20 25 Year 0 5 10 15 20 25 Collaboration/ Clinical & Regulatory Royalties: Collaboration/ Clinical & Regulatory Royalties: Access Fees: Milestones: ~Low Single Access Fees: Milest
Slide 29: Published Probability of Success and Timelines for Antibodies
29 Published Probability of Success and Timelines for Antibodies Cumulative from Cumulative from Time Range Probability of Success (1) Program Start Clinical Start in Stage Discovery 100.0% 100.0% ~4 Years Preclinical 51.0% 51.0% Phase 1 69.0% 35.2% 100.0% Phase 2 54.7% 19.2% 54.7% ~5 - 8 Years Phas
Slide 30: Building Blocks of Value
30 Building Blocks of Value New Program Starts x Probability of Success x Standard Deal Terms (68 in 2021 and growing) Research-Stage Programs x Probability of Success x Standard Deal Terms Existing Approved Products/Clinical-Stage Partnered Pipeline Collaboration Revenue Novel Platform Technologies
Slide 31: Proforma Revenue & OpEx
31 Proforma Revenue & OpEx ('000s) 2020 2021 License and Milestone Revenue $ 11,385 $ 14,664 Collaboration Revenue 11,883 20,084 Total Revenues 23,268 34,748 Operating costs and expenses: Research and Development 24,796 39,232 Selling, General and Administrative 10,225 16,947 Amortization of Intangi
Slide 32: Cash Position Provides Long Operational Runway
32 Cash Position Provides Long Operational Runway ($ millions) Gross Cash Proceeds $130 Underwriting/Transaction/Other Fees ~$35 Net Cash ~$95 Shares Outstanding 114.8 million Shares Outstanding includes earnout shares, but excludes OmniAb options, RSUs, PSUs and APAC warrants BUSINESS IS CLOSE TO B
Slide 33: Share Information (at time of Split)
33 Share Information (at time of Split) Common Shares Outstanding Ligand Shareholders 82.6 SPAC Shareholders 1.3 Earnout Share Summary Avista Shares 14.6 Basic Share Count 98.5 • Ligand shareholders received 0.75842 earnout shares for every Ligand share Earnout Shares owned Ligand Shareholders 15.0
Slide 34: Management
34 Management Matt Foehr Kurt Gustafson Charles Berkman Chief Executive Officer Chief Financial Officer Chief Legal Officer Board Member Viking Therapeutics Board Member Xencor, Inc Former General Counsel Former Exec at Ligand Pharmaceuticals, Former CFO/Exec at at Ligand Pharmaceuticals, GlaxoSmith
Slide 35: Board of Directors
35 Board of Directors Carolyn Bertozzi, PhD Sarah Boyce Jennifer Cochran, PhD Matt Foehr Professor of Humanities & Sciences CEO, Avidity Professor of Bioengineering CEO, OmniAb, Inc. Stanford University Former Akcea Therapeutics, Stanford University Board Member Viking Therapeutics Investigator HHMR
Slide 36: Our Key Areas of Focus Going Forward
36 Our Key Areas of Focus Going Forward WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH WE LEVERAGE A HIGHLY Partnered Pipeline Development, Expansion and Advancement SCALABLE BUSINESS WHERE Continued Workfl
Slide 37: OmniAb, Inc. Summary
37 OmniAb, Inc. Summary • Demand for antibody-based approaches drives the industry’s need for cutting-edge discovery technologies • We maintain a highly scalable business where investments in and extensions of our differentiated technology are informed by a deep portfolio of partnerships • Our partn
Slide 38: For more information, please visit www.omniab.com
38 For more information, please visit www.omniab.com
Slide 39: Approved and Clinical-Stage Partner Pipeline
39 Approved and Clinical-Stage Partner Pipeline NOW WITH THREE APPROVED PRODUCTS AND 22 ACTIVE CLINICAL-STAGE ANTIBODIES Partner Program Source Animal Therapy Area Target Preclinical Phase 1 Phase 2 Phase 3 Registration Approved Zimberelimab OmniRat Oncology PD-1 Sugemalimab OmniRat Oncology PD-L1 T
Slide 40: Recent News Flow from Partners
40 Recent News Flow from Partners SELECT RECENT DEVELOPMENTS SHOW CONTINUED MOMENTUM AND PLATFORM VALUE Geography & Recently Additional Entering Indication Expansion Approved Late-Phase Trials Phase 2 Sugemalimab Teclistamab Batoclimab M6223 (PD-L1) (BCMA x CD3) (FcRn) (TIGIT) • Approved in China (C
Slide 41: Zimberelimab
41 Zimberelimab THE FIRST APPROVED OMNIRAT-DERIVED ANTIBODY • In August of 2021, zimberelimab (GLS-010), an OmniAb-derived fully human anti-PD-1 mAb, was approved in China for the treatment of recurrent or refractory classical Hodgkin’s lymphoma ‒ Marked the first approval of an OmniAb-derived mAb •
Slide 42: Sugemalimab
42 Sugemalimab THE SECOND APPROVED OMNIRAT-DERIVED ANTIBODY • Fully human, full-length anti-PD-L1 immunoglobulin G4 (IgG4) mAb, which may reduce risk of immunogenicity and toxicity, a unique advantage over similar drugs • Sugemalimab (Cejemly®) was approved in China in June of 2022 for unresectable
Slide 43: Teclistamab
43 Teclistamab APPROVED BISPECIFIC ANTIBODY FOR RELAPSED OR REFRACTORY MULTIPLE MYELOMA (RRMM) • A fully humanized IgG4, T-cell redirecting, bispecific antibody targeting both BCMA (B-cell maturation antigen) and CD3 ‒ Discovered in part with the OmniAb platform technology (anti-BMCA portion) • In D
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