Alpha Tau Medical Ltd · NASDAQ:DRTS
Alpha Tau Medical — SPAC Merger (July 2021)
40 slides from Alpha Tau Medical's SPAC merger presentation, Jul 8, 2021
Slide 1: Alpha Tau Company Overview
ay AlpheTAU Company Overview July 2021
Slide 2: Disclaimer
This presentation (together with oral statements made in connection herewith, the "Presentation") is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the "Business Combination") between Healthcare Capital C
Slide 3: Use of Projections and Additional Information
Use of Projections This Presentation contains projected financial information with respect to Alpha Tau. Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results
Slide 4: Today's Presenters
Uzi Sofer CEO & Chairman Alpha Tau Raphi Levy CFO Alpha Tau William Johns CEO Healthcare Capital Corp. Today’s Presenters Confidential
Slide 5: HCC's Investment Rationale: Potential to Transform Solid Tumors Treatment
uu Potential to Transform Solid Tumors Treatment HCC evaluated many potential business combination candidates. Alpha Tau was chosen because of its innovative cancer radiotherapy and its potential to transform the treatment of solid tumors HCC and its external advisors were particularly impressed by
Slide 6: Alpha Tau – Key Investment Highlights
Alpha Tau – Key Investment Highlights Proprietary Alpha DaRT designed to safely deliver alpha radiation with localized precision in solid tumors, sparing surrounding healthy tissue 1 Broad potential and preclinical evidence supporting evaluation across various solid tumors (skin, pancreas, breast, G
Slide 7: Therapeutic Focus
Therapeutic Focus We are focused on delivering solutions to three markets that we believe would be best served by the unique characteristics of the Alpha DaRT Localized & Unresectable Localized tumors that are not surgical candidates and tumors that recur after surgery and are resistant to other the
Slide 8: Development Pipeline and Anticipated Milestones
Geography Indication Pre-Clinical Research Feasibility Trial Pivotal Trial Marketing Authorization Anticipated Milestones North America Skin Cancers Complete feasibility trial recruitment YE2021 Pancreatic Cancer First patient in feasibility trial 1Q 2022 Israel Skin & Oral SCC All Skin & Oral Cance
Slide 9: Types of Radioactive Decay
Types of Radioactive Decay Due to the mass of the alpha particle, in comparison to beta particle, alpha has a low penetration power. This means that the outside layer of the human skin, for example, can block these particles. Confidential
Slide 10: Potent Alpha Radiation: Extensively Damages the DNA
Potent Alpha Radiation: Extensively Damages the DNA Conventional Gamma/Beta Radiation Indirectly damaging the DNA Dependent on oxygen presence Repairable single strand breaks Alpha Radiation Directly damaging the DNA Independent of oxygen presence Irreparable double strand breaks γ/β Radiation Singl
Slide 11: Alpha Radiation is Focal - Short Range Limits Clinical Use
Healthy Tissue Healthy Tissue Alpha Radiation is Focal - Short Range Limits Clinical Use Alpha Radiation Short range in tissue limits damage to surrounding organs but also limits coverage Beta/Gamma Radiation Long therapeutic range with risk to surrounding organs Whereas beta and gamma radiation can
Slide 12: Mechanism of Action of the Alpha DaRT Technology
Mechanism of Action of the Alpha DaRT Technology 224Ra Decay Chain Alpha DaRT leverages the innate decay chain of Radium-224 The decay chain of Radium-224 includes four alpha particles Radium-224 has a half-life of ~3.7 days, while the remaining decay chain has a total half-life of approximately 12
Slide 13: Alpha DaRT - Diffusing Alpha-emitters Radiation Therapy
Alpha DaRT - Diffusing Alpha-emitters Radiation Therapy https://www.youtube.com/watch?v=nwfzJHm0fTQ Confidential
Slide 14: Alpha DaRT Has a Unique Potential to Preserve Healthy Tissues
Alpha DaRT is unique in its potential to deliver a high dose of radiation in a very conformal form, with sharp dose drop-off outside of a 5mm range Alpha DaRT Has a Unique Potential to Preserve Healthy Tissues The range of the Alpha DaRT was observed to be meaningfully more extensive in tumor tissue
Slide 15: Alpha DaRT Source Placement
Alpha DaRT Source Placement Coverage of margins of 8 mm (last source to be placed 5 mm outside of the tumor) 5 mm safety distance from critical organs 5mm < 5 mm between sources 5mm 8mm Through a series of Alpha DaRT injections to the tumor, spread a few millimeters apart, a clinician can potentiall
Slide 16: Intra-tumoral Delivery Methods
Intra-tumoral Delivery Methods We Have a Total of Seven Applicators Which Have Been Developed for a Range of Potential Uses to Accommodate for: Treatment Delivery Method Duration of Implantation Tumor Location Our Applicators Allow Us Flexibility to Deliver Alpha DaRTs Into Both Superficial and Inte
Slide 17: Response Observed in All Tested Solid Tumors in Preclinical Studies
Response Observed in All Tested Solid Tumors in Preclinical Studies Squamous Cell Carcinoma Lung Squamous Cell Carcinoma Pancreas Adenocarcinoma Prostate Adenocarcinoma Breast Carcinoma Glioblastoma Multiforme B-cell Lymphoma Melanoma Colon Carcinoma 18 Published Preclinical Studies in Peer-Reviewed
Slide 18: Observed Cancer-Specific Immune Protection (1/2)
In challenging mice 4 months after treatment, those previously treated by the Alpha DaRT displayed a meaningful retained protection against regrowth of the same tumor type, as compared to the two control groups Three groups of mice were inoculated with 5 x 105 CT26 tumor cells and then treated with
Slide 19: Observed Cancer-Specific Immune Protection (2/2)
Observed Cancer-Specific Immune Protection (2/2) Tumor Re-Inoculation2 (Challenge Assay) Naïve Mice Immune-Memory Transfer2 (Winn Assay) + Splenocytes from Tumor-free Pretreated Mice + Tumor Treatment by DaRT + Immunomodulators Naïve Mice DaRT-Treated Tumor-free + Naïve Mice Immuno-modulation refers
Slide 20: Outline of Our First Clinical Study: Skin / Head & Neck SCC
Key Eligibility Criteria SCC histopathologically confirmed Lesions ≤ 5 cm* Age ≥ 18 ECOG performance scale ≤ 2 Patients W/O immunosuppression Generally previously treated by radiation or surgery, recurrent *in the longest diameter (without nodal spread). Treatment & Procedure Treatment plan based on
Slide 21: Skin / Head & Neck SCC Study Results
Skin / Head & Neck SCC Study Results 100% overall response rate Durable responses observed Responses observed within days Well tolerated; no systemic toxicity observed Efficacy Results Effective against radioresistant tumors (Patient median age = 80.5 years) Overall Response (n=28) Baseline Disease
Slide 22: AP-02 Complete Response
AP-02 Complete Response During 21/03/2017 After 01/06/2017 Planning Before 21/03/2017 Applicators used 6 Alpha DaRT sources inserted 10 Total activity [µCi] 20 Age 80 Previous treatments Radiation, Surgery Tumor initial volume [cm3] 1.4 Confidential
Slide 23: AP-022 Complete Response
AP-022 Complete Response During 30/08/2018 After 30/09/2018 Before 27/08/2018 During 30/08/2018 Applicators used 12 Alpha DaRT sources inserted 24 Total activity [µCi] 48 Age 68 Previous treatments None Tumor initial volume [cm3] 2.8 Confidential
Slide 24: AP-024 Complete Response
AP-024 Complete Response Applicators used 8 Alpha DaRT sources inserted 11 Total activity [µCi] 22 During 13/11/2018 After 29/11/2018 Before 13/11/2018 During 13/11/2018 Age 61 Previous treatments None Tumor initial volume [cm3] 0.6 Confidential
Slide 25: Alpha DaRT Treatment was Well Tolerated
Targeted treatment Designed to spare neighboring healthy tissue No systemic toxicity observed Negligible and short-term radioactivity in the patient’s body Safe procedure for caregivers No special shielding required Alpha DaRT Treatment was Well Tolerated Minimal local toxicity observed Minimal loca
Slide 26: Potential Systemic Immune Effect Observed in One Patient
Potential Systemic Immune Effect Observed in One Patient Where a Second, Untreated Lesion Manifested CR Before After 29-Dec-17 30-Nov-17 Untreated Tumors Treated Tumor Before After 29-Dec-17 30-Nov-17 Complete Response + Potential Systemic Immune Effect Confidential
Slide 27: Selected Current Clinical Trials
Seeds of Hope Worldwide – Selected Current Clinical Trials Breast & Skin and Oral Multi-center TMDU, NCC, Tohoku University Pancreas At CHUM Skin & Oral IRST Breast Russia Active Active Checkpoint Inhibitor Combination Treatment Israel Preparation Completed SCC Skin, Head & Neck Israel Completed Ski
Slide 28: FDA IDE Pilot Feasibility Study
FDA IDE Pilot Feasibility Study (Currently Recruiting) Location Memorial Sloan Kettering Cancer Center Target # of Patients 10 Tumor Type Skin Cancers Primary Objectives Determine feasibility of delivering radiotherapy using DaRT, with successful delivery in at least 7 patients, and assess frequency
Slide 29: Applicable Market Size – Estimates of Annual Incidence Data
Applicable Market Size – Estimates of Annual Incidence Data US Applicable Mkt. Size SCC / H&N Annual Incidence US 1,000,000 China 133,500 Japan 28,000 Europe 550,000 Canada 17,500 Breast Annual Incidence US 276,480 China 416,370 Japan 92,300 Europe 355,460 Canada 26,900 Pancreas Annual Incidence US
Slide 30: Simple Radioactive Supply Chain
Simple Radioactive Supply Chain Simple Radioactive Supply Chain Activity per DaRT, µCi 8 µCi shipment 4 µCi shipment 1 half-life of 224Ra = 3.7 days Personalized treatment, shipped out on a per-patient basis Simple planning ensures that an Alpha DaRT arrives with the required amount of 224Ra availab
Slide 31: Global Manufacturing Facilities
Global Manufacturing Facilities For efficient commercial operations, we look to establish manufacturing operations in multiple regions of the world, to enable relatively short shipping times to our core markets Lawrence, Massachusetts (~125,000 sources per year - Ramping Up) Jerusalem (~400,000 sour
Slide 32: Management Team
Uzi Sofer CEO & Chairman Raphi Levy Chief Financial Officer Prof. Itzhak Kelson Chief Physics Officer Prof. Yona Keisari Chief Scientific Officer Robert Den, MD Chief Medical Officer Amnon Gat Chief Operations Officer Ronen Segal Chief Technology Officer Co-Founder and CEO of BrainsWay (NASDAQ: BWAY
Slide 33: Board of Directors
Uzi Sofer CEO & Chairman Michael Avruch Director Morry Blumenfeld Director Meir Jakobsohn Director Alan Adler Director Gary Leibler Director John Brown Director Peter Melnyk Director Co-Founder and CEO of BrainsWay (NASDAQ: BWAY) Medical device development, regulation, financing Expert in financing
Slide 34: Continued Track Record of Execution
Continued Track Record of Execution Distribution agreement with Medison Canada $29mm Series B financing Receipt of first Thorium-228 in Lawrence, MA Investigator meeting for French multi-center trial Provisional Israeli MoH and IRB approvals for combination trial with Keytruda Apr-20 May-20 Sep-20 O
Slide 35: Anticipated Milestones
Geography Indication 3Q 2021 4Q 2021 1H 2022 2H 2022 1H 2023 North America (Subject to COVID Opening) Skin Cancers (United States) Pancreatic Cancer (Canada) Israel la/mHNSCC (combination with pembrolizumab) Prostate Cancer Pancreatic Cancer Europe Oral Cavity SCC Japan Skin & Oral SCC Anticipated M
Slide 36: Transaction Overview
Transaction Overview Confidential
Slide 37: Transaction Overview
Transaction Overview Transaction Summary Alpha Tau and Healthcare Capital Corp. (Nasdaq: HCCC) to combine and create a publicly traded company focused on transforming the treatment of solid tumors through the precision delivery of Alpha radiation The transaction represents an implied pro forma equit
Slide 38: Transaction Economics at Closing
Transaction Economics at Closing Assume no shareholder redemptions. Estimated existing Alpha Tau cash as of Q4 2021. Share allocation is at transaction pricing and excludes unvested options and shares, potential future equity earn-outs, HCC public warrants and HCC sponsor warrants, and includes vest
Slide 39: Use of Proceeds
Use of Proceeds At the time of closing, the Company is expected to have approximately $362 million of cash on the balance sheet(1) Funding is expected to provide cash runway at least into 2024 and to primarily be used for clinical programs, manufacturing capacity and preparations for commercializati
Slide 40: Saving Lives Globally
Saving Lives Globally Confidential