Avalo Therapeutics, Inc. · NASDAQ:AVTX

Avalo Therapeutics — Investor Presentation (September 2021)

53 slides from Avalo Therapeutics's investor presentation, Sep 9, 2021

  1. Slide 1: Innovation Driven by Compassion

    1 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Innovation Driven by Compassion September 2021

  2. Slide 2: Forward-looking statements

    2 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. This presentation may include forward - looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward - looking statements are statements that are not historical facts. Such forward - looking statem

  3. Slide 3: Pipeline Highlights

    3 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Avalo has a pipeline of six novel, first - in - class assets in eight clinical development programs across Immunology, Immuno - oncology, and Rare Genetic Diseases • All assets have demonstrated mechanistic rationale, biomarkers, or

  4. Slide 4: Clinical-Stage Pipeline

    4 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Clinical - Stage Pipeline *Avalo remains in dialogue with the FDA and is working through feedback to determine the trial design for a registrational st udy and accompanying timelines, including the potential expansion to a larger pati

  5. Slide 5: AVTX-002: Anti-LIGHT monoclonal antibody for Crohn's Disease and COVID-19 ARDS

    5 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 5 Anti - LIGHT monoclonal antibody in clinical studies for Crohn’s Disease and COVID - 19 ARDS AVTX - 002

  6. Slide 6: AVTX-002: A Novel First-in-Class Anti-LIGHT (TNFSF14) mAb

    6 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Novel, first - in - class fully human subcutaneous (SQ) monoclonal antibody (mAb) • Only fully human anti - LIGHT mAb • Only anti - LIGHT mAb in clinical development AVTX - 002: A Novel First - in - Class Anti - LIGHT (TNFSF14) mAb

  7. Slide 7: AVTX-002: Crohn's Disease

    7 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 7 AVTX - 002: Crohn’s Disease

  8. Slide 8: Executive Summary: AVTX-002 Potential Proof-of-Concept in Initial Low-Dose Cohort

    8 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Open - label proof - of - concept study in patients with moderate to severe Crohn’s disease who previously failed 3 or more lines of biologic therapies, including anti - TNF α * • Clinically meaningful mucosal healing, determined by

  9. Slide 9: Inflammatory Bowel Disease Overview

    9 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Inflammatory bowel disease (IBD) is a broad term indicating chronic inflammation of the gastrointestinal (GI) tract and includes both Crohn’s disease (CD) and ulcerative colitis (UC) 1 – Relapsing and remitting course characterized

  10. Slide 10: Substantial Opportunity Remains in the Treatment of IBD

    10 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Substantial Opportunity Remains in the Treatment of IBD • Majority of patients are designated moderate/severe and treated with pharmacologic intervention • Almost all patients with moderate to severe IBD will receive biologics over t

  11. Slide 11: LIGHT Is a Key Driver of Inflammation

    11 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. LIGHT Is a Key Driver of Inflammation LIGHT, homologous to L ymphotoxin, exhibits I nducible expression and competes with HSV G lycoprotein D for binding to herpesvirus entry mediator ( H VEM), a receptor expressed on T lymphocytes.

  12. Slide 12: Multiple Lines of Evidence Support Importance of LIGHT in IBD

    12 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Multiple Lines of Evidence Support Importance of LIGHT in IBD 1. Data on file, Avalo Therapeutics, Inc. 2. Moraes L et al. Inflamm Bowel Dis. 2020;26(6):874 - 884. 3. Cohavy O et al. J Immunol. 2005;174(2):646 - 653. 4. Wang J et al.

  13. Slide 13: Elevated LIGHT Levels Detected in Pediatric Crohn's Disease

    13 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Approximately 83% of pediatric patients with CD had significantly elevated LIGHT levels – Cross - sectional study of pediatric patients with CD from Center for Applied Genomics at CHOP – Studied pediatric patients with CD (n=183) v

  14. Slide 14: AVTX-002 Crohn's Disease Proof-of-Concept Trial Design

    14 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Moderate to severe disease • Anti - TNF α failure • Heavily pre - treated patients • Dose escalation starting at 1mg/kg every 2 weeks • Short duration (8 weeks) AVTX - 002 Crohn’s Disease Proof - of - Concept CDAI, Crohn’s Disease

  15. Slide 15: Severe Patients Less Likely to Achieve Spontaneous Remission

    15 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Clinical Trials in CD Consistently Suggest More Severe Patients Are Less Likely to Achieve Spontaneous Remission PBO, placebo; KOL, key opinion leader. Source: Su . Gastroenterology. 2004; Su . Gastroenterology. 2007; Physician Inter

  16. Slide 16: Crohn's Disease Proof-of-Concept: Phase 1b Initial Data (Cohort 1)

    16 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Subject 1 42 Remicade, Entyvio, Stelara 11 4 455 24 Significant mucosal healing: • 64% reduction in SES - CD score (moderate to mild) • Patient relapsed post treatment and needed surgery Subject 2 63 Remicade, Humira, Entyvio, Stelar

  17. Slide 17: Preliminary Efficacy Results (Patient-Level Data)

    17 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. SES - CD Scores Plasma LIGHT Levels SES - CD Score 25 Baseline (Day 0) Week 8 20 10 5 0 15 Plasma LIGHT Levels (pg/mL) 500 Baseline (Day 0) Week 8 400 200 100 0 300 Subj. 1 Subj. 2 Subj. 3 Subj. 4 Subj. 1 Subj. 2 Subj. 3 Subj. 4 AVTX

  18. Slide 18: Independent Preliminary Safety Data Results

    18 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • No serious adverse events attributable to study drug – Consistent with 83 - patient COVID - 19 ARDS clinical trial 1 • Adverse events were mild to moderate in nature – Most common: GI symptoms consistent with CD • No evidence of in

  19. Slide 19: Crohn's Disease Opportunity

    19 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Crohn’s Disease Opportunity Despite the Number of Agents Available, There Remains Significant Opportunity Among Later Line CD Patients DIRECTIONAL U.S. Crohn’s Disease Cases (2021) Key Takeaways According to claims data, ~60% of the

  20. Slide 20: AVTX-002: COVID-ARDS

    20 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 20 AVTX - 002: COVID - 19 ARDS

  21. Slide 21: AVTX-002 Reduced Respiratory Failure and Mortality in Phase 2 Trial

    21 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • AVTX - 002 significantly reduced respiratory failure and mortality in a Phase 2 clinical trial in patients hospitalized with COVID - 19 acute respiratory distress syndrome (ARDS) – This analysis updates the preliminary top - line d

  22. Slide 22: LIGHT Is a Central Driver of COVID-Related Cytokine Storm

    22 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. LIGHT Is a Central Driver of COVID - 19 – Related Cytokine Storm • In patients ≥60 years, LIGHT levels were significantly higher in those who eventually died than in those who recovered ( P =0.021) • Observed mortality rate was highe

  23. Slide 23: Cytokine Storm Drives ARDS Across Etiologies

    23 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. ARDS Progression Pre - ARDS Disease Course Cytokine Storm Drives ARDS Across Etiologies Source : Physician Interviews; Papazian L et al. Ann Intensive Care 2019;9(1):69; Bhatraju PK et al. N Engl J Med. 2020;382(21):2012 - 2022. Pati

  24. Slide 24: AVTX-002 Treatment of Cytokine Storm-Induced COVID-19 ARDS

    24 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. AVTX - 002 Treatment of Cytokine Storm - Induced COVID - 19 ARDS PaO 2 , partial pressure of oxygen, FiO 2 , fraction of inspired oxygen. Primary Endpoint: Respiratory Failure and Mortality Over 28 Days Randomized, Double - Blind, Pl

  25. Slide 25: Patient Disposition

    25 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Patient Disposition ITT, intent - to - treat; SoC, standard of care. Source: Data on file, Avalo Therapeutics, Inc. Screening: Patients With COVID - 19 – Associated Pneumonia and Mild to Moderate ARDS 1:1 Randomization to SoC + AVTX

  26. Slide 26: Patient Demographics

    26 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Age (yrs), mean (SD) 59.2 (14.5) 58.1 (14.2) Age Group, n (%) <60 yrs ≥60 yrs 20 (48.8) 21 (51.2) 21 (50.0) 21 (50.0) Gender, n (%) Male Female 25 (61) 16 (39) 32 (76.2) 10 (23.8) Race, n (%) White Black or African American Asian Oth

  27. Slide 27: A Single Dose of AVTX-002 Reduced LIGHT Levels Dramatically and Rapidly

    27 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. A Single Dose of AVTX - 002 Reduced LIGHT Levels Dramatically and Rapidly • Mean LIGHT levels were comparable at baseline across cohorts • Mean LIGHT levels were ~100 pg/mL higher in patients aged ≥60 years • LIGHT levels declined ra

  28. Slide 28: AVTX-002 Significantly Reduced Respiratory Failure and Mortality

    28 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. AVTX - 002 Significantly Reduced Respiratory Failure and Mortality *Prespecified analysis. Source: Data on file, Avalo Therapeutics, Inc. Primary Endpoint: Percentage of Patients Alive and Free of Respiratory Failure at Day 28 Effica

  29. Slide 29: A Single Dose of AVTX-002 Reduced Mortality by ~50%

    29 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 28 - day Mortality 7.7% 14.3% 60 - day Mortality 10.8% 22.5% A Single Dose of AVTX - 002 Reduced Mortality by ~50% Source : Data on file, Avalo Therapeutics, Inc. • A trend in ~50% reduction in mortality was observed at both the 28 -

  30. Slide 30: Safety and Tolerability

    30 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Subjects with ≥1 AE, n (%) Subjects with ≥1 drug - related AE, n (%) 16 (40) 8 (20) 21 (50) 6 (14.3) AEs >5%, n (%) Leukocytosis Anemia Hepatic enzyme increase Acute kidney injury Respiratory failure 6 (15) 4 (10) 4 (10) 3 (7.5) 3 (7

  31. Slide 31: Broader ARDS Target Populations

    31 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Broader ARDS Target Populations CAGR, compound annual growth rate. Sources: Eworuke E et al. J Crit Care . 2018;47:192 - 197; Bellani G et al. JAMA . 2016;315(8):788 - 800; Rubenfeld GD et al. N Engl J Med . 2005;353(16):1685 - 1693;

  32. Slide 32: AVTX-002 Clinical Program Next Steps

    32 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Crohn’s Disease – Further evaluation of cohort data, including tissue LIGHT levels – Cohort 2 (3 mg/kg dose) fully enrolled; complete data anticipated in 2H 2021 • Ulcerative Colitis – Expand clinical study to patients with moderat

  33. Slide 33: AVTX-007: Anti-IL-18 mAb for Multiple Myeloma and Still's Disease

    33 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 33 Phase 1b anti - IL - 18 monoclonal antibody for Multiple Myeloma and Still’s Disease (AOSD and sJIA) AVTX - 007

  34. Slide 34: First-in-Class Anti-IL-18 High-Affinity Monoclonal Antibody

    34 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. IL - 18 (% of baseline) 150 100 50 0 • In - licensed from Medimmune/AstraZeneca • Potent and durable IL - 18 inhibition – Evaluated in Phase 1 SAD* for COPD* (n=31) – IV* doses of 10, 30, 100, 300 or 1000 mg – Well tolerated • Phase

  35. Slide 35: Multiple Myeloma: Second Most Common Blood Cancer Globally

    35 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Multiple Myeloma: Second Most Common Blood Cancer Globally 1. NCI SEER. Cancer stat facts: myeloma. https://seer.cancer.gov/statfacts/html/mulmy.html. Accessed July 22, 2021. 2. Palumb o A et al. N Engl J Med . 2011;364(11):1046 - 10

  36. Slide 36: Strong Potential in Multiple Myeloma

    36 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Strong Potential in Multiple Myeloma *HR, hazard ratio; † IL, interleukin . Source : Nakamura K et al. Cancer Cell. 2018;33(4):634 - 648.e5. • Patients with high IL - 18 have significantly worse median survival (42 mo vs >84 mo; P =0

  37. Slide 37: AVTX-007 Treatment of Resistant and Refractory Multiple Myeloma

    37 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Estimated Enrollment Dose Escalation Phase ~14 Expansion Phase = 14 Multicenter, Open - Label, Dose - Escalation Phase 1b Study of AVTX - 007 in Subjects With Relapsed or Refractory Multiple Myeloma Dose Escalation and Expansion Tria

  38. Slide 38: Adult-Onset Still's Disease (AOSD) Overview

    38 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Serum IL - 18* Levels Significantly Elevated in AOSD Patients 3 Adult - Onset Still’s Disease (AOSD) Overview • Rare disease with estimated US diagnosed prevalence of 3,500 to 7,000 1 • Symptoms include fever, rash, pharyngitis, arth

  39. Slide 39: Systemic Juvenile Idiopathic Arthritis (sJIA) Overview

    39 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Systemic Juvenile Idiopathic Arthritis (sJIA) Overview *IL, interleukin; † NSAID, nonsteroidal anti - inflammatory drug; ‡ DMARD, disease - modifying anti - rheumatic drug; † CRP, C - reactive protein. 1. ClearView Healthcare Partner

  40. Slide 40: Proof-of-Concept Clinical Data

    40 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Proof - of - Concept Clinical Data • AB2 Bio clinical proof - of - concept in AOSD (n=23) using IL - 18 binding protein ( t ½ † = 40 h) – >50% of AOSD patients treated with IL - 18 binding protein achieved response • Serum IL - 18 co

  41. Slide 41: AVTX-007 Treatment of Adult-Onset Still's Disease

    41 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Key Secondary / Exploratory Endpoints Primary Endpoint Estimated Enrollment: N=12 AVTX - 007 7 mg/kg (max 500 mg) q4wks (n=6) *IL, interleukin; † CRP, C - Reactive Protein; ‡ DAS, Disease Activity Score; Α ESR erythrocyte sedimentati

  42. Slide 42: AVTX-006: mTORC1/2 inhibitor for Complex Lymphatic Malformations

    42 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 42 Phase 2 - ready, dual mTORC 1/2 small - molecule inhibitor for Complex Lymphatic Malformations AVTX - 006

  43. Slide 43: High-Potency, Second-Generation, Dual Inhibitor of mTORC1/2

    43 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. High - Potency, Second - Generation, Dual Inhibitor of mTORC1/2 • In - licensed from Astellas • Phase 2 – ready asset – 4 - week nonclinical tox studies completed – Previously studied in Phase 1 MAD* (n=128) – Development discontinue

  44. Slide 44: Complex Lymphatic Malformations

    44 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Neoplastic lesions caused by mutations in PI3K/AKT/mTOR pathway • Leads to local proliferation of lymphatic endothelial cells and perturbation of lymph flow Complex Lymphatic Malformations: Family of Potentially Life - Threatening

  45. Slide 45: Off-Label Use of mTOR Inhibitor Sirolimus in Lymphatic Malformations

    45 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Phase II trial enrolled patients with complicated vascular anomalies – Enrolled patients with different subtypes of lymphatic malformations not controlled by previous medication, sclerotherapy, and/or surgery – Sirolimus was admini

  46. Slide 46: AVTX-006 Treatment of Complex Lymphatic Malformations

    46 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Estimated Enrollment: N=10 AVTX - 006 Treatment of Complex Lymphatic Malformations *Pi3K, phosphatidylinositol 3 - kinase; † AKT, protein kinase B. Dual mTOR Inhibitor to Modulate PI3K* and AKT † Activity AVTX - 006 two dose groups:

  47. Slide 47: AVTX-800s: Monosaccharide therapy for CDGs

    47 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 47 Monosaccharide therapy for Congenital Disorders of Glycosylation (CDGs) AVTX - 800s

  48. Slide 48: Congenital Disorders of Glycosylation: Life-Threatening, Ultra-Rare Disease

    48 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. • Glycosylation is essential for protein structure & function, particularly for circulating proteins and enzymes such as hormones and coagulation factors • Currently approximately 150 CDGs identified • Due to a genetic mutation, CDG

  49. Slide 49: Opportunity to Be the First FDA-Approved Drugs for CDGs

    49 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. D - Mannose D - Galactose L - Fucose OHO OH OH HO OH O HO OH OH HO OH AVTX - 801 AVTX - 802 AVTX - 803 Accelerated pathway ض ض ض FDA ODD* † ض ض ض Priority Review Voucher † ض ض ض Pivotal data anticipated 2022 2022 1H 2022 Pharmaceutic

  50. Slide 50: Key Financial Information

    50 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. 50 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Key Financial Information

  51. Slide 51: Financial & Investor Information

    51 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. NASDAQ: AVTX Financial & Investor Information The following data is as of June 30, 2021 • Outstanding common shares – ~96M • Fully diluted shares – 114.8M • Average daily trading volume – ~2M • Cash – $40.4M* Key Financial Highlights

  52. Slide 52: Select Management Team Members

    52 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. Select Management Team Members Michael Cola | Chief Executive Officer, Chairman of the Board • Former President of Specialty Pharmaceuticals, Shire plc • Senior Management, AstraMerck and AstraZeneca plc Garry Neil, MD | Chief Scient

  53. Slide 53: www.avalotherapeutics.com

    53 © Copyright 2021. Avalo Therapeutics, Inc. All rights reserved. NASDAQ:AVTX www.avalotherapeutics.com

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