Oxford Biomedica Plc · LSE:OXB
Oxford Biomedica — H1 2024 Earnings Presentation
29 slides from Oxford Biomedica's earnings presentation, Sep 23, 2024
Slide 1: Delivering on our pure-play CDMO growth strategy
Delivering on our pure-play CDMO growth strategy Interim results for the six months ended 30 June 2024 23rd September 2024
Slide 2: Legal disclaimer
Legal disclaimer 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 and reason
Slide 3: Agenda
Agenda Business update 1 CEO - Dr. Frank Mathias Commercial update 2 CBO - Dr. Sébastien Ribault Financial update 3 CFO - Dr. Lucy Crabtree Wrap-up 4 CEO - Dr. Frank Mathias A global quality and innovation led CDMO in cell and gene therapy 5 Q&A 3
Slide 4: Business update
Business update CEO - Dr. Frank Mathias
Slide 5: Strong momentum seen across all areas of OXB
Strong momentum seen across all areas of OXB 3 pillar plan to deliver sustainable growth is delivering results Clear strategy Strong implementation plan Clear path towards profitability Well defined Global integration of Prudent cost strategy with sites progressing well control measures investment t
Slide 6: Commercial update
Commercial update CBO - Dr. Sébastien Ribault
Slide 7: Clinical programs continue to grow despite funding challenges
Clinical programs continue to grow despite funding challenges Growth in the C> sector fuelled by high number of commercial approvals Number of in vivo and ex vivo gene therapies in FDA approvals for CGT: clinical phases: +5% 1,432 1,420 1,350 2024 E 3 4 70 1,343 66 67 66 Approved molecules so far
Slide 8: Significant increase in commercial opportunities since 2022
Significant increase in commercial opportunities since 2022 ~40% of the pipeline in late phase and commercial projects Commercial opportunities non-risk Opportunities in pipeline in $m by development phases: adjusted pipeline in $m: Pre. P1 P2 P3 Com. +94% 565 Early phase OXB solutions 438 Late phas
Slide 9: OXB seizes opportunities in a dynamic market
OXB seizes opportunities in a dynamic market Maturing pipeline with a balanced client base and geographical spread Risk-adjusted pipeline value Risk-adjusted pipeline revenue split Geographies Total opportunities weighted by the probability of % of pipeline revenue coming from new clients vs Diversi
Slide 10: Number of late-stage & commercial programmes continues to grow
Number of late-stage & commercial programmes continues to grow OXB is supporting pre-commercialisation activities for 4 clients Client programmes by type/phase: Benefits to our clients: Early: pre-clinical Late: Commercial Total Track record: increasing our track to phase 2 phase 3 agreements record
Slide 11: Financial update
Financial update CFO - Dr. Lucy Crabtree
Slide 12: H1 2024: Successful transformation of OXB
H1 2024: Successful Confirmation transformation of our mid-term guidance forof OXB both top- and bottom-line 1 Double-digit revenue growth 2 Robust commercial KPIs ✓ Organic revenue growth of 38% ✓ Underpins expected momentum for H2 2024 and beyond ✓ Driven by new client acquisition and lentiviral v
Slide 13: Confidence in our financial guidance
Confidence in our Confirmation of financial guidance mid-term guidanceunderpinned bybottom-line for both top- and robust drivers Mid-term guidance maintained…. …underpinned by robust operational and commercial drivers Past Current Future • Continued commercial momentum with total potential revenue p
Slide 14: Wrap-up
Wrap-up Dr. Frank Mathias
Slide 15: Strategy supported by a clear mission and vision
Strategy supported by a clear mission and vision To transform lives through cell Vision and gene therapy To enable our clients to deliver Mission life-changing therapies to patients To create a leading global Strategy quality and innovation-led CDMO in cell and gene therapy 15
Slide 16: Delivering on our pure-play CDMO growth strategy
Delivering on our pure-play CDMO growth strategy High energy management team executing ”One OXB” strategy Strong market demand for OXB’s services and expertise Order book growth due to significant commercial momentum Reiterating financial guidance and confidence in future performance 16
Slide 17: Q&A
Q&A
Slide 18: Appendix
Appendix
Slide 19: Consolidated statement of comprehensive income
Consolidated statement of comprehensive income Six months ended 30 June Six months ended 30 June 2024 2023 £'000 £'000 Continuing operations Revenue 50,806 43,061 Cost of sales (32,851) (21,122) Gross profit 17,955 21,939 Research and development costs (15,764) (31,417) Bioprocessing costs (23,595)
Slide 20: Consolidated balance sheet
30 June 2024 31 December 2023 Consolidated balance Assets £'000 £'000 Non-current assets sheet Intangible assets & goodwill Property, plant and equipment 29,991 71,596 30,981 75,692 Trade and other receivables 4,506 4,340 106,093 111,013 Current assets Inventories 16,569 12,872 Trade and other recei
Slide 21: Consolidated statement of cash flows
Consolidated statement of cash flows Six months ended 30 June 2024 Six months ended 30 June 2023 £’000 £’000 Cash flows from operating activities Cash consumed in operations (39,199) (8,916) Tax credit received - 3,502 Net cash used in operating activities (39,199) (5,414) Cash flows from investing
Slide 22: ESG 2024 achievements
ESG 2024 achievements OXB’s ESG strategy is focused on four pillars: People, Community, Environment and Supply Chain People Community Equality, Diversity & Inclusion online training Module Volunteer day completed removing invasive species from local launched to all UK employees in July 2024 nature r
Slide 23: Extensive track-record and best-in-class capabilities
Extensive track-record and best-in-class capabilities A quality and innovation-led CDMO in cell and gene therapy, accelerating access to life-changing therapies Our 25+ 550+ 50+ 30+ experience… years of manufacturing successful GMP batches programmes supported IND submissions experience in the last
Slide 24: History rich in science and innovation
History rich in science and innovation Unmatched track record in viral vector manufacturing Co-development of an GMP license granted adeno process for GMP for Oxford site production in 6 months World’s first Acquired ABL Europe, 2006 patient treated 2020 expanding manufacturing in-vivo with OXB lent
Slide 25: Differentiated manufacturing platforms
We help tackle complex problems with our differentiated manufacturing platforms LentiVector® platform inAAVate platform Adenovirus platform o 25+ years of experience with 10+ o 8+ years of experience Strong track years in GMP manufacturing o Delivered 100+ million covid vaccine doses o 50+ GMP batch
Slide 26: Our global network supports programmes in all major vectors
Our global network supports programmes in all major vectors We’re closing strategic gaps to enhance our value proposition and capture market growth Global capabilities by vector type: Impact of our strategic decisions: GMP GMP PAD clinical commercial Fill & Finish Testing Clients get access to a glo
Slide 27: Selected services
OXB’s end-to-end capabilities enable us to be the chosen partner for companies from discovery to commercialisation Illustrative OXB Revenue Streams from CDMO Services Drug development Pre-clinical Phase 1 Phase 2 Phase 3 Commercial phases Our Early: developing robust process and delivering Late: ens
Slide 28: Definitions
Definitions BLA/MA submission Biologics License Application submission and Marketing Authorisation submission respectively. E2E End-to-end GxP, GMP, GCP, GLP GxP is a general term for Good (Anything) Practice. GMP, GCP and GLP are the practices required to conform to guidelines laid down by relevant
Slide 29: Contact us
Contact us Oxford Biomedica plc Windrush Court Transport Way Oxford OX4 6LT Lucy Crabtree Chief Financial Officer Sophia Bolhassan Head of Investor Relations IR@oxb.com www.oxb.com