Pyc Therapeutics Limited · ASX:PYC
Pyc Therapeutics — Phylogica — Shareholder Meeting (November 2010)
32 slides from Pyc Therapeutics's shareholder meeting presentation, Nov 30, 2010
Slide 1: Harnessing biodiversity for biologics discovery
Phylogica For personal use only Harnessing biodiversity for biologics discovery AGM November 2010 Tuesday, 30 November 2010
Slide 2: Introductions to Speakers
Introductions to Speakers Dr Douglas Wilson - Executive Chairman • Former Senior Vice-President, Medicine for Boehringer Ingelheim For personal use only • Overseen multiple drugs at all phases of development including bringing many drugs successfully to the market in the USA Dr Paul Watt – CEO • Com
Slide 3: Highlights of the year
Highlights of the year Successfully entered 2 discovery partnerships with For personal use only some of the worlds top pharmaceutical companies (Roche, MedImmune/AZ) Appointed Nick Woolf as Chief Financial Officer Completed $2.3 Million Capital Raising Generating new revenue Successfully completed t
Slide 4: Roche & MedImmune Partnerships
Roche & MedImmune Partnerships Roche For personal use only • Signed in December 2009 • Discovery of new cell penetrating peptides • Project completed and review of milestone achievements in progress • Option structure MedImmune (biologics unit of AstraZeneca) • Signed in August 2010 • Discovery of n
Slide 5: Background
Background Spin-out from collaboration between Telethon Institute for For personal use only Child Health Research in Western Australia and Fox Chase Cancer Centre in Philadelphia Based in Perth, Western Australia, and Oxford, UK; ~20 staff Listed on Australian Stock Exchange (ASX:PYC) in 2005 Market
Slide 6: Financials
Financials Capital structure For personal use only ‣ 283M Ordinary shares, 64M options ‣ 1.3M convertible notes - convert to 27M shares Net cash burn in FY2010 of approximately AU$3.8M* Cash at hand November 30th of AU$2.6M Objective to achieve cash sustainability in 18 Months 6 Tuesday, 30 November
Slide 7: Low-Risk Business Model
Low-Risk Business Model For personal use only Contract Drug Discovery for Pharma Nick Woolf 7 Tuesday, 30 November 2010
Slide 8: Traditional Drug Development Model in Australia
Traditional Drug Development Model in Australia Discovery Humans Development Humans Humans Humans For personal use only Lead Phase Phase Phase Discovery Toxicity IND Optimisation I II III Standard Biotech Drug Development Model Co-development Humans Typically aim to partner (co-develop) after phase
Slide 9: Phylogica's focus on Drug Discovery reduces risk
Phylogica’s focus on Drug Discovery reduces risk Discovery Humans For personal use only Phylogica Co-development/Partner Humans Co-development path Model requires an exclusive source of new drug leads Phylogica now geared for multiple discovery projects Business model now gaining commercial traction
Slide 10: Model provides access to short and long-term revenue streams
Model provides access to short and long-term revenue streams Discovery Humans For personal use only Upfront fees, FTEs provide immediate revenue stream Build long-term value through milestones and royalties Secure increasing share of down-stream value through co- development, funded by surplus cash
Slide 11: Structure of our discovery alliances
For personal use only Structure of our discovery alliances Structure of Discovery Partnerships (eg: MedImmune/AstraZeneca deal) Value Per Drug Target (US$) Upfront license fee $750-$1M Contract revenue for screening (1 yr) $750K- $1M Cumulative milestone payments Up to $100M Royalties single digit %
Slide 12: Scaleability of Revenue Streams
Scaleability of Revenue Streams Revenue Streams For personal use only Upfront License Fees, Milestones, FTE’s Royalties Costs $1.5 Million $98.5 Million Tuesday, 30 November 2010
Slide 13: Scaleability of Revenue Streams
Scaleability of Revenue Streams Revenue Streams For personal use only Upfront License Fees, Milestones, FTE’s Royalties Costs $1.5 Million $98.5 Million $1.5 Million $98.5 Million $1.5 Million $98.5 Million $1.5 Million $98.5 Million Tuesday, 30 November 2010
Slide 14: Big Pharma are increasingly outsourcing drug discovery
For personal use only Big Pharma are increasingly outsourcing drug discovery Tuesday, 30 November 2010
Slide 15: The discovery-alliance model works
For personal use only The discovery-alliance model works Company Platform Market Value 2009 Listed Revenues Morphosys Antibody Library > $357M €81M Frankfurt Screening Evolva Library Screening/Small > $286M CHF19M Swiss Molecule Evotec Genetic Library > $307M >€40M Frankfurt/ Screening/Small Molecul
Slide 16: Why are big Pharma interested in Phylomers
Why are big Pharma interested in Phylomers® For personal use only Paul Watt 23 Tuesday, 30 November 2010
Slide 17: Traditional drug development pipelines are drying up
Traditional drug development pipelines are drying up 50 No. new small molecules drugs/per annum For personal use only 38 25 13 0 1996 1998 2000 2002 2004 2006 2008 Nature Reviews Drug Discovery, Vol 9, p92, 2010 Numbers of conventional ‘small molecule’ drugs coming to market are diminishing Tuesday,
Slide 18: Traditional drug development pipelines are drying up
Traditional drug development pipelines are drying up 50 No. new small molecules drugs/per annum For personal use only 38 25 13 0 1996 1998 2000 2002 2004 2006 2008 Nature Reviews Drug Discovery, Vol 9, p92, 2010 Numbers of conventional ‘small molecule’ drugs coming to market are diminishing Tuesday,
Slide 19: BIOLOGICS: the new wave in drug development
BIOLOGICS: the new wave in drug development Biologics are a new class of therapeutics including antibodies and For personal use only peptides Biologics represent fastest growing class of drugs (Herceptin, Humira) More than half of newly approved drugs by 2015 will be biologics Peptides have some key
Slide 20: Peptide market growing nearly twice as fast as conventional drugs
Peptide market growing nearly twice as fast as conventional drugs For personal use only 45 marketed peptides represent $4 billion market (excluding insulin) 132 peptides in clinical development and hundreds of peptides in advanced preclinical development (tip of the iceberg) Virtually all peptides c
Slide 21: Phylomer peptides come from parts of biodiverse proteins
Phylomer® peptides come from parts of biodiverse proteins From biodiverse microorganisms, many of which live in extreme For personal use only environments like volcanic streams, geysers and deep sea volcanic vents Phylomer libraries contain several billion distinct peptides Phylomer structures have
Slide 22: Harvesting structural diversity for drug discovery
For personal use only Harvesting structural diversity for drug discovery Phylomer libraries offer the most structurally diverse set of peptides available 10 Tuesday, 30 November 2010
Slide 23: Addressing a key challenge of peptide drug discovery
Addressing a key challenge of peptide drug discovery Phylomer libraries developed to hit new target classes For personal use only Phylomer libraries provide the most diverse set of peptide structures available Bigger pool of different structures to choose compounds from Best quality and quantity of
Slide 24: Roche collaboration: getting drugs into cells
Roche collaboration: getting drugs into cells Most disease-associated drug targets lie within cells For personal use only Traditional biologics like antibodies can’t access targets inside cells Found Phylomers which are able to penetrate inside cells, providing access to intracellular targets Extrac
Slide 25: Big pharma wants "in"
Big pharma wants “in” Accessing targets inside the cell with peptides represent the For personal use only next wave of drugs Pharma paying for drugs that can get inside cells BristolMyersSquibb/Kai pharmaceutics (2008) • $25 Million upfront, 10 Million in investment at Kai’s option • Up to $192 Mill
Slide 26: Roche: Encouraging Data
Roche: Encouraging Data Have identified multiple cell penetrating Phylomer peptides For personal use only Roche are independently evaluating Phylogica’s findings !"#$"%&'()"*+,-./0,"12345267" Negative Positive !"#$"%&'()89:9"*%2;</0,"12345267" =>"#$"=>@A"*%BC62D,57" =>"#$">?@A"*%BC62D,57" Tuesday, 3
Slide 27: MedImmune: Anti-infectives
For personal use only MedImmune: Anti-infectives Emergence of resistant bacteria in US hospitals Preliminary success of Phylomers in killing multi-resistant superbugs attracted interest of Medimmune Medimmune has engaged Phylogica to discover new drugs to treat hospital-based infections Multi-billio
Slide 28: Internal Discovery Programs
Internal Discovery Programs For personal use only CANCER TARGETS • Collaboration to discover new cancer targets • Hitting an emerging high value cancer target 23 Tuesday, 30 November 2010
Slide 29: Sonic Hedgehog (intracellular)
Sonic Hedgehog (intracellular) High value targets. Useful to treat range of diseases For personal use only including brain tumours and skin cancers In certain cancers, hedgehog (Shh) ligand binds to Ptch: Best targets inside cells relieves Ptch-mediated inhibition of Smo Shh >100 Phylomer hits Smo n
Slide 30: Discovering new disease targets
For personal use only Discovering new disease targets Collaboration with Cambridge University, Molecular Therapeutics Program Established a new application of Phylomer libraries to discover drug targets Significant interest from Big Pharma Exploring opportunities for commercialisation of this asset
Slide 31: Summary
Summary Successfully validated Drug Discovery Model with For personal use only multiple pharma partners On track to achieving goal of >3 deals per year On-track to achieve revenue neutrality within 18 months Building capital growth asset for a high value exit for our shareholders 5 Tuesday, 30 Novem
Slide 32: For personal use only
Dr. Paul Watt Nick Woolf Chief Executive Officer CFO, VP Corporate Development Tel: +61 8 9382 8888 Tel: +61 8 9382 8888 For personal use only Fax: +61 8 9382 1766 Fax: +61 8 9382 1766 Mobile UK: +44 7775 682478 Mobile UK: +44 7766 234206 Mobile AUS: +61 417 986 005 paulw@phylogica.com nwoolf@phylog