Syntara Limited · ASX:SNT
Syntara — Shareholder Meeting (November 2018)
36 slides from Syntara's shareholder meeting presentation, Nov 22, 2018
Slide 1: Annual General Meeting
Annual General Meeting 22 November 2018 1
Slide 2: Pharmaxis 2018 AGM Agenda
Pharmaxis 2018 AGM Agenda 1. Welcome and opening of meeting 2. Chairman’s Address 3. Presentation by CEO and CFO 4. Shareholder questions 5. Formal business: i. Financial Report, Directors’ Report and the Auditor’s Report ii. Adoption of the Remuneration Report iii. Re-election of Mr Malcolm McComas
Slide 3: Chairman's Address
Chairman’s Address Malcolm McComas 3
Slide 4: Presentation by Chief Executive Officer
Presentation by Chief Executive Officer Gary Phillips 4
Slide 5: Forward looking statement
Forward looking statement This document contains forward-looking statements, including statements concerning Pharmaxis’ future financial position, plans, and the potential of its products and product candidates, which are based on information and assumptions available to Pharmaxis as of the date of
Slide 6: Pharmaxis has a successful track record of research, development and commercialisation
Pharmaxis has a successful track record of research, development and commercialisation of human healthcare products for the treatment and management of fibrotic and inflammatory diseases • Utilise global experience and extensive clinical networks to execute value adding Phase 1 and 2 clinical trials
Slide 7: Senior management
Senior management Significant experience in drug development, commercialisation and partnering Gary Phillips – CEO Wolfgang Jarolimek – Drug Discovery more than 30 years of operational management more than 20 years’ experience in pharmaceutical drug experience in the pharmaceutical and healthcar
Slide 8: Pharmaxis portfolio
Pharmaxis portfolio Pre Indication Discovery Lead Optimisation Phase I Phase II Phase III Marketed Clinical Commercial Phase 3 trial met primary endpoint in 2017. Chiesi planning to file with FDA Q4 2018. Subject to FDA Bronchitol® US Cystic fibrosis approval, US partner Chiesi will launch commercia
Slide 9: Key catalysts targeted for 2018/2019
Key catalysts targeted for 2018/2019 Pharmaxis value driving events 1. LOXL2 anti fibrotic program Phase 2 enabling toxicity studies: 2 completed, 2 to report Q4 2018 Partnering process to commence - Q4 2018. 2. Boehringer Ingelheim acquired SSAO inhibitor (BI 1467335) to report clinical proof o
Slide 10: LOXL2 inhibition program
LOXL2 inhibition program for NASH, IPF & other high value fibrotic diseases Potential indications / market size: NASH / Liver Fibrosis; $35b1 Pulmonary fibrosis (IPF); $3.5b2 Significant Excessive production and linking of market collagen fibres results in fibrosis Kidney fibrosis Cardiac
Slide 11: LOXL2 inhibitor program approaches deal ready status
LOXL2 inhibitor program approaches “deal ready” status Feature What Pharma values PXS program status Disease target Independent validation Multiple peer reviewed publications Pre clinical proof of 2 or more different Multiple supportive models across 5 different diseases. concept supportive animal m
Slide 12: LOXL2 inhibitor program – partnering process
LOXL2 inhibitor program – partnering process Positive engagement with pharma companies Pharma company interest driven by search for: Inhibitor to LOXL2 and LOXL3 enzymes, Effective anti-fibrotic drug, and/or Drugs to complement existing disease portfolio – lung, liver, kidney, heart, etc.
Slide 13: SSAO (Boehringer Ingelheim): Pharmaxis poised to be a major player
SSAO (Boehringer Ingelheim): Pharmaxis poised to be a major player in diseases caused by complications of diabetes Two diseases with high unmet need and large patient populations in Phase 2 studies NASH Diabetic Retinopathy Expected to become leading cause of liver transplant by 2020 Affects ~95
Slide 14: SSAO: Phase 2 trials to show clinical proof of concept in H1 2019
SSAO: Phase 2 trials to show clinical proof of concept in H1 2019 Boehringer Ingelheim responsible for clinical development and commercialisation NASH Diabetic Retinopathy Phase 2a trial expected to report Phase 2a SSAO diabetic retinopathy expected to report H1 2019 – proof H1 2019 – proof of e
Slide 15: SSAO: Boehringer Ingelheim deal
SSAO: Boehringer Ingelheim deal Deal structure illustrates value generating potential of Pharmaxis business model PLUS earn-out payments First indication (NASH) on annual net sales • Tiered percentages Commencement of increasing from high Commencement of Filing, regulatory & phase 2 phase 3 pricing
Slide 16: More programs approaching the clinic
More programs approaching the clinic Opportunities to fast track both programs into patient proof of clinical efficacy studies Program LOX (oral) LOX (Topical) Indication Severe fibrotic indications: Scarring pancreatic cancer myelofibrosis Commercialisation Partner after phase 2 Partner after
Slide 17: Bronchitol for cystic fibrosis
Bronchitol for cystic fibrosis Overview Cystic fibrosis Bronchitol Business model - RoW Business model - US Patients Active ingredient Distributors responsible Phase 3 trial (CF303) – US: 30,000; mannitol delivered as an for promotion & support reported June 2017 – Europe: 37,000; inhalable
Slide 18: Summary
Summary Pharmaxis is a global leader in drug development for fibrosis & inflammation Pharmaxis have built a successful platform of small molecule drugs targeting high value fibrotic and inflammatory indications Development pipeline across various stages - one drug in two phase 2 trials, one drug
Slide 19: Financial Overview
Financial Overview David McGarvey CFO 23
Slide 20: Financials – highlights
Financials – highlights 30 June 2018 A$'000 2018 2017 2016 2015 Highlights of 2018 Income Statements Increased product sales Two milestone payments Sales revenue 6,094 4,823 6,135 5,999 from Boehringer Ingelheim Other revenue 44,739 13,178 12,885 53,248 totaling $42m Total revenue 50,833 18,001
Slide 21: New Drug Development
New Drug Development Drug development and clinical trial expenditure by pipeline project New Drug Development Expenses - Annual Current status/planned expenditure 16,000 LOXL2: 14,000 12,000 2 compounds in phase 1 – completed Q4 2018 10,000 13 week tox for both compounds – to complete $’000 8,
Slide 22: Bronchitol & Aridol
Bronchitol & Aridol Segment profitability Bronchitol & Aridol EBITDA Sales 2015 2016 2017 2018 7,000 20,000 6,000 10,000 5,000 4,000 $’000 - $’000 3,000 -10,000 2,000 1,000 -20,000 - -30,000 -1,000 2015 2016 2017 2018 Sales Other revenue Expenses Aridol Bronchitol - EU Bronchitol - Australia Clinica
Slide 23: Corporate
Corporate 30 June 2018 Expenses Employee and other costs stable 16,000 One-off expense in 2018 to change 14,000 collaboration agreement with Synairgen 12,000 10,000 8,000 6,000 4,000 2,000 0 2015 2016 2017 2018 Employee costs Other expenses Change in collaboration agreement 27
Slide 24: Balance sheet – 30 September 2018
Balance sheet – 30 September 2018 PP&E $11.8 Assets ($64m) Liabilities ($37m) Inventory Accounts Other $2.9 $2.3 Other $2.2 Finance lease payable $3.1 Cash $46.8 $8.0 Accounts receivable $0.7 NovaQuest financing $23.2 Finance lease over 20 Rodborough Rd (to 2024) NovaQuest financing – not repaya
Slide 25: Shareholders & trading
Shareholders & trading Financial Information Institutional Ownership 30 Sep 18 ASX Code PXS BVF Partners (US) 23% Market Cap1 $103m Arix Bioscience (UK) 11% Shares on Issue 394m Australian Ethical 7% Employee Options1 16m Allan Gray 5% 47m Liquidity (turnover last 12 months)1 Montoya Investments (UK
Slide 26: Shareholder Questions
eharmaxis Shareholder Questions
Slide 27: Formal Business
eharmaxis Formal Business
Slide 28: Resolution 1: Financial Report, Directors' Report and Auditor's Report
Resolution 1 Financial Report, Directors’ Report and the Auditor’s Report No shareholder vote is required 32
Slide 29: Resolution 2: Adoption of the Remuneration Report
Resolution 2 Adoption of the Remuneration Report Ordinary resolution: “That the remuneration report of the Company for the year ended 30 June 2018 be adopted.” 33
Slide 30: Resolution 2: Proxy votes received
Resolution 2 Adoption of the Remuneration Report The Company has received: • 204,074,080 proxy votes in favour of the resolution; • 3,156,689 proxy votes against the resolution; • 459,236 proxy votes abstaining from the resolution; • 1,620,488 proxy votes excluded from voting; • 569,791 proxies able
Slide 31: Resolution 3: Re-election of Mr Malcolm McComas
Resolution 3 Re-election of Mr Malcolm McComas as a Non-Executive Director Ordinary resolution: “That Mr Malcolm McComas, who retires and offers himself for re-election as a director of the Company, be re-elected as a non executive director of the Company.” 35
Slide 32: Resolution 3: Proxy votes received
Resolution 3 Re-election of Mr Malcolm McComas as a Non-Executive Director The Company has received: • 177,192,522 proxy votes in favour of the resolution; • 32,153,080 proxy votes against the resolution; • 327,707 proxy votes abstaining from the resolution; • 606,975 proxies able to be voted by the
Slide 33: Resolution 4: Grant of Performance Rights to Mr Gary Phillips
Resolution 4 Grant of Performance Rights to Mr Gary Phillips Ordinary resolution: “That for the purposes of the ASX Listing Rules and for all other purposes, approval is given for the grant of 690,000 zero grant price and zero exercise price employee options (Performance Rights) to Mr Gary Phillips
Slide 34: Resolution 4: Proxy votes received
Resolution 4 Grant of Performance Rights to Mr Gary Phillips The Company has received: • 197,323,111 proxy votes in favour of the resolution; • 10,537,073 proxy votes against the resolution; • 739,948 proxy votes abstaining from the resolution; • 710,361 proxy votes excluded from voting; • 569,791 p
Slide 35: Resolution 5: Renewal of Proportional Takeover Provision
Resolution 5 Renewal of Proportional Takeover Provision Special resolution: “That approval is given for the proportional takeover provision contained in article 45 of the current constitution of the Company to be renewed for a further three years from the date of the 2018 annual general meeting, as
Slide 36: Thank you for your participation
Thank you for your participation 2018 Annual General Meeting 40