CORPORATE PRESENTATION - A ROYALTY AGGREGATION
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CORPORATE
PRESENTATION
A ROYALTY
AGGREGATION
OCTOBER 2021 NASDAQ: XOMA COMPANY
1
DISCLAIMERS
Certain statements in this presentation are forward-looking statements Potential risks to XOMA meeting these expectations are described in
within the meaning of Section 27A of the Securities Act of 1933 and more detail in XOMA's most recent filing on Form 10-K and in other
Section 21E of the Securities Exchange Act of 1934, including SEC filings. Consider such risks carefully when considering XOMA's
statements regarding: future potential monetization opportunities, prospects. Any forward-looking statements represent XOMA’s views
active transactions with significant financial implications, collaborations only as of the date of this presentation and should not be relied upon as
poised for significant financial contribution, our library of potentially representing its views as of any subsequent date. XOMA disclaims any
value-generating assets, future potential for milestone and royalty obligation to update any forward-looking statement, except as required
payments, the potential of our antibody discovery engine, potential out- by law.
licensing of our internal compounds and products, the ability of our
partners and their licensees to successfully develop their pipeline NOTE: All references to “portfolio” in this presentation are to milestone
programs, the productivity of acquired assets, our revenue forecasts, and/or royalty rights associated with a basket of drug products in
upcoming internal milestones and value catalysts, our future cash development. All references to “assets” in this presentation are to
needs, our strategy for value creation, and other statements that relate milestone and/or royalty rights associated with individual drug product
to future periods. These statements are not guarantees of future candidates in development. References to royalties or royalty rates
performance and undue reliance should not be placed on them. They contained herein refer to future potential payment streams regardless
are based on assumptions that may not prove accurate, and actual of whether or not they are technically defined as royalties in the
results could differ materially from those anticipated due to certain risks underlying contractual agreement; further, any rates referenced herein
inherent in the biotechnology industry and for companies engaged in are subject to potential future contractual adjustments.
the development of new products in a regulated market.
2
XOMA SNAPSHOT
▪ Portfolio of 70+ assets in >30 disclosed indications today and growing
- Roche – faricimab1
- Novartis – iscalimab, NIS793, gevokizumab
- Merck – MK-4830
- Bayer – osocimab
- Janssen - cetrelimab
▪ Acquire drug royalties associated with mid- to early stage clinical candidates
₋ Differentiate by focusing on development-stage assets with blockbuster potential licensed to large-cap partners
▪ Provide exposure, through royalties, to the upside potential of biotech
₋ Capital-efficient model; R&D costs are borne by partners
₋ Interim milestone payments have covered much of our low operating costs
₋ Exposure risk mitigated through diverse portfolio effects
₋ Partners spend up to hundreds of millions of dollars to develop individual XOMA royalty assets
▪ Royalty interests are not diluted as companies raise capital
3 3
1. Acquired economic rights from Affitech SA
XOMA’S PORTFOLIO: 70+ PARTNERED PROGRAMS
PRECLINICAL PHASE 1 PHASE 1/2 PHASE 2 PHASE 3 BLA FILING
1
1
22
Further
4 Development
Expenses by XOMA:
$0
18
10
>50% of assets with
15+ Large-Cap Partners
4
SINCE 2017 STRATEGIC PIVOT, PORTFOLIO HAS
SEEN >25 ADVANCEMENTS FROM PHASE TO PHASE
PROGRAM ADVANCEMENTS SINCE 2017
Ph 2 to Ph 3 2
Ph 2a to Ph 2b 2
Ph 1 to Ph 2 10
Entered Clinic 12
5
KEY XOMA PORTFOLIO ASSETS
Asset Partner Royalty Rate Stage
Faricimab1 Roche 0.5% BLA accepted by FDA
Iscalimab (anti-CD40) Novartis Mid-single-digit to low teens Phase 2
NIS793 (anti-TGFβ) Novartis Mid-single-digit to low teens Phase 2
MK-4830 (anti-ILT-4) Merck Low single-digit Phase 2
Osocimab (anti-Factor Xia) Bayer Low single-digit Phase 2
Mezagitamab (anti-CD-38) Takeda 4% Phase 2
RZ358 (insulin receptor) Rezolute High single-digit to mid-teens Phase 2
Gevokizumab (anti-IL-1β) Novartis High single-digit to mid-teens Phase 1
Cetrelimab (anti-PD-1) Janssen / JNJ 0.75% Phase 3
DAY101 (pan-RAF) Day One Mid-single-digit Phase 2
Vidutolimod (TLR9) Checkmate High single-digit to double digits Phase 2
1. Acquired economic rights from Affitech SA 6
7
XOMA Royalty Rates:
Iscalimab Mid-single digit to low teens
NIS793 Mid-single digit to low teens
VPM087 High-single digit to mid teens
NIR178 Low-single digits
8
SIGNIFICANT NUMBER OF CLINICAL EVENTS – RECENT AND FUTURE
EXPECTATIONS
SPONSOR/PROGRAM: Phase 1 Phase 2 Phase 3 Regulatory
Roche / faricimab1 BLA accepted by FDA
JNJ / cetrelimab Ph 3 initiation
Novartis / NIS793 Ph 3 initiation
Rezolute / RZ358 Ph 2 CHI readout
Bayer / osocimab Ph 2 ESRD readout As disclosed
Incyte / INCAGN01876 Ph 1/2 readout – advanced malignancies
by partners in
public filings
Checkmate/vidutolimod Ph 2 initiation – advanced or metastatic cancer
Incyte / INCAGN01949 Ph 1/2 initiation
Affimed / AFM24+NK Ph 1/2a initiation
Incyte / INCAGN02390 Ph 1 readout
Bayer / Osocimab Ph 1 ESRD readout
Rezolute / RZ402 Ph 1 DME readout
Denovo / vosaroxin Ph 1 MDS readout
Takeda / TAK-079 Ph 1 SLE readout
9
As disclosed by partners on Clinicaltrials.gov and/or public announcements - dates as of 10/4/2021- all subject to change 1. Acquired economic rights from Affitech SA
WHO WE ARE Board of Directors
▪ Leadership • Denny Van Ness
Hidden Hill Advisors
▪ Jim Neal, CEO
• Heather L. Franklin
▪ Tom Burns, CFO Blaze BioScience
▪ Business Development Team • Natasha Hernday
Seattle Genetics
▪ Legal Team • Barbara Kosacz
Kronos Bio
▪ Finance Team
• Joe Limber
▪ Consultants Secura Bio
▪ Deal sourcing • Jim Neal
XOMA
▪ Scientific
• Matthew Perry
▪ Medical BVF Partners
• Jack Wyszomierski
VWR International (retired)
10XOMA IS POSITIONED TO MONETIZE ROYALTIES ON
MID- TO EARLY-STAGE CLINICAL ASSETS
Capital per transaction
$200M +
Royalty Pharma
$100M –
DRI
$200M
Healthcare
Trust
$25M – Ligand
$100M HCRP
< $25M
11 PRECLINICAL PHASE 1 PHASE 2 PHASE 3 APPROVAL COMMERCIALBASICS OF A XOMA ROYALTY MONETIZATION TRANSACTION
STEP 2:
STEP 1:
BIG Program Licensed
BIOTECH
PHARMA Royalties & Milestones
12 12OPPORTUNITIES
ABOUND FOR TOTAL
ROYALTY 3,817 INDUSTRY
LICENSING
MONETIZATION DEALS
’14 – ’20
PHASE 3
LICENSING DEALS: 514
Biotech & Pharma
License Transactions
consist of:
PHASE 2
LICENSING DEALS: 646 • Milestone payments
• Royalty obligations
Companies’ funding
PHASE 1
LICENSING DEALS: 457 needs increase over
time
PRECLINICAL/OTHER
LICENSING DEALS: 2,200 13
Bloomberg dataKEY ATTRIBUTES
OF XOMA TARGET ASSETS
STRONG DEVELOPER/MARKETER
Assets partnered with high-quality pharma / biopharma companies
Rx MID- TO EARLY STAGE CLINICAL ASSETS
Therapeutic area agnostic
LONG DURATION OF MARKET EXCLUSIVITY
Patent expiration or regulatory exclusivity
HIGH REVENUE POTENTIAL
High unmet need or clear clinical benefit over alternatives
14 14Acquired from Affitech SA 15
XOMA ACQUISITION TRANSACTIONS 2018 - 2021
ASSETS
COMPANY PARTNER / LICENSEE CAPITAL DEPLOYED THERAPEUTIC AREA
ACQUIRED
wAMD, DME, diabetic
Affitech 1 $6M retinopathy
Kuros 1 $7M Immuno-Oncology
Viracta 2 $13.5M Oncology
$15M
Agenus 7 ($1M milestone Immuno-Oncology
earned since)
Aronora 5 $9M Thrombotics
Palobiofarma 6 $10M Oncology, NASH, Asthma
Bioasis 4 $1.2M Lysosomal Storage DisordersFINANCIAL HIGHLIGHTS
($M)
Expenses YE Cash
($M)
$100 $90
$90 $80
G&A non-cash
$80 $70
G&A
$70
$60
R&D non-cash
$60
$50
$50 R&D Expense
$40
$40
$30
$30
$20 $20
$10 $10
$0 $0
2015 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
17RECENT HIGHLIGHTS PARTNERS & PARTNERED ASSETS
▪ Novartis
OPERATIONAL ₋ Announced intention for NIS793 (anti-TGFβ mAb) Phase 3 launch in 2021; received
Orphan Drug Designation for pancreatic cancer in combination with standard of
care chemotherapy
▪ Acquired economic interest in Roche’s faricimab from
₋ Conducting multiple iscalimab (CFZ533) Phase 2 trials
Affitech for $6M
▪ Janssen
▪ More than doubled royalty license portfolio since 2017 - Launched Phase 3 cetrelimab study in muscle-invasive bladder cancer
- Purchased milestone & royalty rights to: ▪ Takeda
‒ Initiated mezagitamab (TAK-079) Phase 2 program - myasthenia gravis and
- DAY101 + vosaroxin for $13.5M thrombocytopenia studies
- Vidutolimod for $7M
▪ Merck
- Acquired milestone & royalty interests in >20 programs, - Commenced and expanded MK-4830 Phase 2 development program
future assets from 2 technology platforms ▪ Bayer
- Legacy research licenses advanced to clinical - Initiated Phase 2 osocimab (BAY1213790) study in kidney failure setting
development-stage ▪ Rezolute
- Affimed - AFM13, AFM24, one undisclosed - Announced positive data from RZ402 Phase 1 diabetic macular edema study,
initiated multiple ascending dose study
- Janssen – cetrelimab, JNJ-63709178, JNJ-
63898081, others ▪ Day One
- Launched DAY101 Phase 2 registrational study in pediatric and young adult patients
- Out-licensed three programs with relapsed or progressive low-grade glioma
- Received Rare Pediatric Disease Designation for pediatric low-grade glioma
▪ Completed over $60M in Perpetual Preferred Stock
Offerings – (NASDAQ: XOMAP, XOMAO)
18WHAT MAKES XOMA SO EXCITING
▪ XOMA holds potential royalty stream on 70+ assets; pharmaceutical partners
fund 100% of research & development costs
• Roche – faricimab1
• Novartis – iscalimab, NIS793, gevokizumab
• Merck – MK-4830
• Bayer – osocimab
• Janssen - cetrelimab
▪ XOMA sources royalty rights through deep industry network
▪ XOMA constructs an increasingly diverse and expanding portfolio to increase
odds of success and mitigate binary risk
▪ XOMA’s future royalty revenues are paired with a low-cost infrastructure
19
1. Acquired economic rights from Affitech SACORPORATE
PRESENTATION
A ROYALTY
AGGREGATION
OCTOBER 2021 NASDAQ: XOMA COMPANY
20WE EXPECT A SIGNIFICANT NUMBER OF CLINICAL EVENTS IN THE
NEXT 12 MONTHS
As disclosed by partners in public filings
Phase 1 Phase 1/2 Phase 2 Phase 3 Regulatory
Bayer/osocimab - Incyte/INCAGN01876 – Rezolute/RZ358 – Novartis/NIS793 – Roche/faricimab1
ESRD readout advanced malignancies readout CHI readout mPDAC initiation FDA decision
Takada/TAK-079 - Incyte/INCAGN01949 – Bayer/osocimab - JNJ/cetrelimab –
SLE readout initiation ESRD readout MIBC
Denovo/vosaroxin – JNJ/cetrelimab – JNJ/cetrelimab –
MDS readout advanced cancers readout apalutamide combo initiation
Incyte/INCAGN02390 – JNJ/cetrelimab –
advanced malignancies readout TAR-200 combo initiation
Incyte/INCAGN01876 – JNJ/cetrelimab –
HNSCC initiation daratumumab combo readout
JNJ/cetrelimab – Merck/MK-4830 –
prostate cancer readout ES-SCLC initiation
Novartis/NIR178 – Checkmate/vidutolimod –
RCC combo initiation cemiplimab initiation
Checkmate/CMP-001 Novartis/NIS793 –
pembrolizumab readout mCRC initiation
Affimed/AFM24+NK –
initiation
21
As disclosed by partners on Clinicaltrials.gov and/or public announcements - dates as of 10/4/2021- all subject to change 1. Acquired economic rights from Affitech SAXOMA’S PORTFOLIO: KEY MID-LATE-STAGE (Does not include all assets,
including certain assets subject
HIGHLIGHTS
to confidentiality agreements)
ASSET TARGET THERAPEUTIC AREA ROYALTY RATE STAGE
angiopoietin-2 (Ang-2) and
BLA accepted
faricimab1 vascular growth factor-A Ophthalmology 0.5%
by FDA
(VEGF-A)
cetrelimab (JNJ-63723283) PD-1 Oncology 0.75% Phase 3
NIS793 TGFß Oncology Mid-single digit to low teens Phase 2
iscalimab (CFZ533) CD-40 Multiple Mid-single-digit to low-teens Phase 2
NIR178 adenosine A2A Oncology Low single-digit Phase 2
osocimab (BAY1213790) Factor XIa Renal disease Low single-digit Phase 2
1. Acquired economic rights from Affitech SA
22
> $1 billion in potential milestonesXOMA’S PORTFOLIO: KEY MID-LATE-STAGE (Does not include all assets,
including certain assets subject
HIGHLIGHTS
to confidentiality agreements)
ASSET TARGET THERAPEUTIC AREA ROYALTY RATE STAGE
MK-4830 ILT-4 Oncology Low single-digit Phase 2
mezagitamab (TAK-079) CD-38 Oncology 4% Phase 2
RZ358 INSR Congenital Hyperinsulinism High single-digit to mid-teens Phase 2
DAY101 pan-RAF Oncology Mid-single-digit Phase 2
AFM13 CD30/CD16A Oncology Undisclosed Phase 2
vidutolimod (CMP-001) TLR9 Oncology Mid-single-digit to double-digit Phase 2
23
> $1 billion in potential milestonesXOMA’S PORTFOLIO: KEY MID-STAGE (Does not include all assets,
including certain assets subject
HIGHLIGHTS
to confidentiality agreements)
ASSET TARGET THERAPEUTIC AREA ROYALTY RATE STAGE
AB002 (E-WE thrombin) E-WE thrombin Renal disease Low single-digit Phase 2
xisomab 3G3 (AB023) Factor XI Renal disease / thrombosis Low single-digit Phase 2
AV-299 (ficlatuzumab) Anti-HGF Oncology Low single-digit Phase 2
DF106 (vosaroxin) Topoisomerase II Oncology High single-digit Phase 2
INCAGN1876 GITR Oncology Mid-single-digit Phase 2
PBF-680 adenosine A1 Asthma Low single-digit Phase 2
PBF-677 adenosine A3 Ulcerative colitis Low single-digit Phase 2
24
> $1 billion in potential milestonesXOMA’S PORTFOLIO: EARLY STAGE (Does not include all assets, including
certain assets subject to confidentiality
HIGHLIGHTS
agreements)
ASSET NAME TARGET THERAPEUTIC AREA ROYALTY RATE STAGE
INCAGN1949 OX-40 Oncology Mid-single-digit Phase 1/2
INCAGN02390 TIM-3 Oncology Low to mid-single-digit Phase 1/2
INCAGN02385 LAG-3 Oncology Low to mid-single-digit Phase 1/2
AFM24 EGFR/CD16A Oncology Undisclosed Phase 1/2
JNJ-64232025 CD154 Oncology 0.75% Completed Phase 1
JNJ-55920839 IFN Oncology 0.75% Completed Phase 1
NTM-1631, NTM-1632,
Botulinum neurotoxins Botulism poisoning 15% Completed Phase 1
NTM-1633, NTM-1634
PBF-1650 adenosine A3 Low single-digit Completed Phase 1
VPM087 (gevokizumab) IL-1ß Oncology High single-digit to mid-teens Phase 1
RZ402 Kallikrein Inhibitor DME Low single-digit Phase 1
JNJ-63709178 CD123xCD3 Oncology 0.75% Phase 1
JNJ-63898081 PSMAxCD3 Oncology 0.75% Phase 1
TAK-169 CD-38 Oncology 4% Phase 1
COM902 TIGIT Oncology Low single-digit Phase 1
PBF-999 adenosine A2A / Phosphodiesterase 10 (PDE-10) Oncology Low single-digit Phase 1
PBF-1129 adenosine A2B Oncology Low single-digit Phase 1
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