Leveraging the Power of Proteins to Deliver Precision Health - 2020 Management Presentation - SomaLogic
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Leveraging the Power of Proteins to Deliver Precision Health 2020 Management Presentation
Safe Harbor Statement
Some of the statements in this presentation constitute forward-looking statements. In some cases, you can identify
forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “seek,” “believe,”
“intend,” “plan,” “estimate,” “pro forma,” “anticipate,” “predict,” “project,” “potential,” or the negative of these terms or
other comparable terminology, although not all forward-looking statements contain these words. Examples of these
statements include, but are not limited to, statements regarding the following: our projected future spending plans and
operating results, our tests’ potential clinical utility and advantages over competitive offerings, market opportunities for
current and planned tests, market adoption of current and planned tests, development of enhanced and new tests,
potential additional applications for data generated by our tests, our go-to-market strategy, potential reimbursement or
payor coverage for our tests, cost reduction efforts, sales productivity, intellectual property protection, potential out-
licensing or spin-out transactions, upside opportunities, our future capital needs and the timing and availability of
additional financing. All statements other than statements of historical fact are statements that could be deemed
forward-looking statements. These statements involve substantial known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance, or achievements to be materially different from the
information expressed or implied by these forward-looking statements. These statements are based on a combination of
facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result of
these factors, actual results or events could differ materially from the plans, intentions and expectations disclosed in the
forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not
regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and
plans in any specified time frame, or at all. The forward-looking statements in this presentation represent our views as of
the date of this presentation. We anticipate that subsequent events and developments will cause our views to change.
We undertake no obligation to update any forward-looking statements, whether as a result of new information, future
events or otherwise. You should, therefore, not rely on these forward-looking statements as representing our views as of
any date subsequent to the date of this presentation.
© 2020 SomaLogic, Inc. All rights reserved. 2
Who We Are
As the global leader in commercial protein
measurement and interpretation, we are transforming
biomedical discovery, clinical diagnostics and disease
management and personal health.
3
Key Investment Highlights
Addressing ~$6B Market Opportunity in Biopharma / Research & Self-Pay, with Longer-
Term Potential to Tap Into ~$50B U.S. Based TAM Through Risk-Bearing and DTC
Core Technology Advanced Over ~20 Years, with $365M+ of Equity Investment
Strong Strategic and Business Relationships with Blue Chip Pharma & Biotechs
Robust Product Pipeline of 100+ Health, Wellness and Disease Management Tests with
Near-Term Commercial Potential
Compelling Growth Profile with Highly Visible Contracted Revenues
Seasoned Leadership Team
4
Seasoned Leadership Team
MANAGEMENT
Roy Smythe Melody Harris Matt Norkunas Patrick Terry Nebojsa Janjic Stephen Williams Alan Williams Fintan Steele
Chief Executive President and Chief Chief Financial Chief Commercial Chief Science Chief Medical Chief Development Chief,
Officer Operating Officer Officer Officer Officer Officer Officer Communications
BOARD OF DIRECTORS
Charles M. Lillis Terry L. Randall
Former Chairman & CEO, Media One Group; President & CEO, Heritage Capital
Larry Gold Co-Founder & Managing Partner, LoneTree Capital Alister (Al) W. Reynolds
Chairman &
Anne Margulies Former SVP of U.S. Operations, Quest Diagnostics
Founder of Vice President & Chief Information Officer, Harvard University Roy Smythe
SomaLogic Jessica Mathews CEO, SomaLogic; Former CMO for Strategy & Partnerships,
Former President, Carnegie Endowment for International Peace Royal Philips
Franck J. Moison
Former Vice Chairman, Colgate-Palmolive
Richard Post
Former President & CEO, Autobytel, Inc.
5
SomaLogic: Driving the Proteomic Revolution
BioPharma Concierge Medicine
Life Science Research Self-Pay Executive Health
Academic Alternative Health
Health Systems
Insurers Risk-Bearing Direct-to-Consumer (DTC)
National Health
Services
VALIDATED WITH PARTNERS, PATIENTS, PUBLICATIONS, EXISTING BIOPHARMA, ACADEMIC BUSINESS AND DATABASE
~80 ~250 ~300,000 ~700 Patents ~$32M
Partners Publications Cumulative Samples (Issued and Pending) Revenues (2019)
Established Market Future Market 6
Why Proteins?
▶ Proteins are the best source of available biological information for health, wellness and
disease management
▶ Proteins mediate the effects of all known drugs
DNA
Unique hereditary
material that
encodes biological
molecules
Proteins
Functional and
structural molecules
for all biological
processes
mRNA Receptors b ind
Molecule that
Unlike Genes — Proteins are Contextual
carries the
“directions” for While the genome stays the same, each human
protein synthesis
proteome is dynamic — protein levels within the
body are constantly changing
7
Addressing The Limitations of Genomics …
SOMALOGIC’S PROTEOMIC TESTING PLATFORM ADDRESSES THE LIMITATIONS OF GENOMICS
“Traditional” Genomics T-Cell Recognition Cell-Free DNA mRNA Protein Measurement
Legacy approaches utilizing Limited to diseases and Limited to diseases and Limited applications, Covers all human biology in
next-gen sequencing conditions that activate conditions that shed primarily used as a real-time, across many
T-cells marker DNA research tool diseases and health states
Few Competitors, Highly Contextual,
Many Competitors, Less “Contextual”, Few Diseases and Conditions Many Diseases and Conditions
8
Solving the Commercial Protein Puzzle
We can commercially measure ~5x the number of proteins vs. our closest competitor — at a ~10x lower cost per unit
Yes
Partial
▶ Proven ability to measure ~5,000
No Antibodies Mass Spec. SomaLogic
Platform (~7,000 in next 12-18 months) proteins
Breadth from a single sample input
Depth ▶ Capability to run assays simultaneously,
at high-throughput — faster, less costly
Speed
▶ Established CLIA/CAP-certified lab
Cost
infrastructure
Scalability
▶ Small biological sample volume
Reproducibility required
Low Sample Size ▶ Highly scalable and reproducible
9
▶ SomaSignal tests are created using machine learning and
advanced pattern recognition modeling
The SomaLogic Platform ▶ In each model, an individual’s risk is determined by the pattern
of expression of between 16 and 300 proteins
1 6
2 7
3 8
4 9
5
“SOMAmer” SomaScan SomaScan SomaLogic SomaSignal
reagents Assay Discovery Alliance Proteomics Database Tests
Slow Off-Rate Incorporates ~5,000 (current) Access to World-Leading
Modified(“SOMAmer”) unique SOMAmer reagents Biobanks Supports High-
Aptamers: proprietary to measure proteins in a Quality Database
protein-binding reagents single sample
SELF-PAY, RISK-BEARING AND DTC MARKETS
1 4 7
10How To Transform Healthcare with a Proteomics Dx Platform
Achieve
dramatically
1 6
better health,
wellness and
2 7 disease
3 8 outcomes
4 9
5 COMPLETELY
NOVEL
MORE
FEASIBLE
LESS
EXPENSIVE
Measure ~5X+ MORE
more proteins
at ~10x lower CONVENIENT
per unit cost…
LESS INVASIVE Ø SomaSignal tests have a transformational ability to
Then develop identify individuals thought to be at “no risk” for a
diagnostic
tests that are… condition who actually are — and those “optimally
treated” for conditions, with residual significant risk
Ø This information is currently not available to clinicians
11Proteomic Testing vs. Genetic Testing
Genomic tests: “one and done.” Re-
doing genetic tests over time usually will
not give any indication of changing
condition or disease risk.
X (one)
Proteomic tests: can be repeated
over time - to understand if a
biologic condition or disease risk is
changing.
X (many)
The “cost” incurred by SomaLogic for delivering more than one test at a time is simply running a different algorithm
12Robust Commercial Product Pipeline of 100+ Tests
Any test, or combination of all available tests can be run on any patient from one biological sample
Launched (Q4:2019) Available 2020-2021 Available 2022+
Preventative Disease Preventative Disease Preventative
Medical Management Medical Management Medical
Primary CV risk – 4 year NASH: 4 liver biopsy components eGFR (kidney function) CHF therapy sensitivity CV risk (all-comers
Secondary CV risk – 4 year Cancer susceptibility (top 4) Predict type II diabetes Cancer early detection multiple subtypes)
Liver fat Kidney disease prognosis diagnosis with COPD risk/risk of Cancer risk (top 15)
Glucose tolerance Congestive heart failure complications progression Functional status/ability
prognosis Pulmonary function w/aging
GLP-1 agonist response
Congestive heart failure type Coronary artery calcium
Rule-out symptomatic coronary
surrogate
heart disease
Statin adherence
Health/Wellness Health/Wellness Health/Wellness
Resting energy rate Healthspan Physical activity Circadian cycle Mental stress
Cardiorespiratory fitness/VO2 max Lifespan Body weight trajectory Reproductive health Inflammatory load
Alcohol impact Sleep quality Bone mineral mass Cognitive trajectory Microbiome diversity
Body fat percentage Alzheimer's/dementia risk Insulin sensitivity Depression/mood Diet change/hypertension
Visceral fat Cognitive function w/aging correlation
Lean body mass Biologic/functional age Frailty Joint health
Social deprivation Grip strength w/aging
Smoking status
13World-Class Academic and Strategic Partnerships
▶ Research partnerships that have
advanced the scientific platform
▶ Client collaborators that fund the
development of the world’s
largest human proteomics
database
The NASH Consortium ▶ Key vendor relationships for
supply chain and capacity
growth
▶ Third-party key opinion leaders
now positioned and in-place
▶ Long-term relationships that will
facilitate clinical utility work and
business development
Denotes revenue-generating client collaborator.
14SomaScan Discovery Alliance Self-Pay Risk-Bearing DTC
Unlocking the Applied Market Opportunity of Proteomics
SomaScan SomaSignal
Discovery SomaSignal SomaSignal
Product Alliance Self-Pay Risk-Bearing
Direct-to-
Consumer
(SDA) (DTC)
2017 SomaSignal 2019 2022 2023
Translation
2020
~$900M
TAM* ~$4B ~$14B ~$30.5B
to ~$2B
BioPharma and Concierge Medicine, Health Systems and Direct-to-Consumer
Academic Markets Executive Health and National Health
Alternative Health Services Insurers
*Source: LEK market research estimates (U.S.- only) 15SomaScan Discovery Alliance Self-Pay Risk-Bearing DTC
Enables Key Insights for BioPharma and Academic Markets
▶ Market size estimated at ~$900M to ~$2B*
• Biologic drug efficacy and risk
Clinical Trials
BioPharma • Drug impact on disease biology, trial inclusion
• Wet laboratory-based protein targeted drug
Drug Discovery development
SomaScan • In vivo animal studies for drug development
Discovery Genomic /
• Use of GWAS and SNPs to find secondary drug
targets
Alliance Proteomic Studies
• Fine phenotyping (pQTL) for drug targeting and
(SDA) disease understanding
SomaSignal
Translation Companion Dx • Development of companion diagnostics
2020
Academic Basic / Translational
Research
• Unlocking preclinical biologic insights across a
broad spectrum of protein-based investigative areas
SomaScan SomaScan Access
Proteomic Data Participant
SomaScan Access Individual
Participant Clinical Data
*Per LEK market research (U.S.- only) 16SomaScan Discovery Alliance Self-Pay Risk-Bearing DTC
Novartis: Transformative 10 Year Deal for SomaLogic
▶ Long-term, committed partner (since 2011)
▶ Renewed 10-year collaboration in March 2019:
• Sample commitments of >250K (run on SomaLogic
Platform), in aggregate, over the next several years
• Novartis to invest ~$50M in this current funding round
▶ Plan to use SomaLogic’s technology platform for all pipeline
drug development programs
▶ ~1/3 of total revenues for the next ~2 years are highly visible,
contracted revenues
▶ Other, similar large deals are in late-stage development
17SomaScan Discovery Alliance Self-Pay Risk-Bearing DTC
SomaSignal Tests: Transformational Dx Platform for Self-Pay
▶ Market size estimated at ~$4B*
• Replace invasive, expensive, COMMERCIAL LAUNCH UNDERWAY (AS OF Q4:2019)
inconvenient existing tests
Dx Testing • Test across multiple conditions
and risks simultaneously
Primary Secondary
Cardiovascular Risk Cardiovascular Risk
• Deployment of some tests not
previously available
Cardiorespiratory
SomaSignal Patient Risk • Use of individual biology to much
Liver Fat Fitness
Stratification more accurately risk stratify
Self-Pay
Body Fat Lean Body
Percentage Mass
• More accurate and rapid
Physician assessment of patient
“intervention” need — to + Glucose Tolerance, Resting
Productivity Alcohol Impact
streamline efficiency of care
Energy Rate and Visceral Fat
PROOF OF CONCEPT STUDY (DECEMBER 2019) VALUE PROPOSITION FOR PATIENTS AND PROVIDERS IN SELF-PAY
Nature Medicine: plasma
samples on nearly ~17K Overview Booklet Test report
patients using SomaScan platform Patient’s personalized
SomaScan to assess 11 and SomaSignal tests results
health and disease states
*Per LEK market research (U.S.- only) 18SomaScan Discovery Alliance Self-Pay Risk-Bearing DTC
Markets in Development:
SomaSignal Risk-Bearing and SomaSignal DTC
All of the individual physician benefits, plus the ability
SomaSignal
Population Health to inform health system, national health service and
Risk- Management and payor precision population health, and guide
Bearing Resource Allocation
resource use with data never before available
SomaSignal Becoming the leading-edge provider of individual
The Democratization health, wellness and disease information to power
Direct-to- of Health Information
and capture the increasing trend and demand for
for Individuals
Consumer democratization of healthcare information and
technology
19Proof Of Benefit For Clinical Market Acceptance
▶ SomaSignal tests benefits not requiring intensive study
• Identification of patients at risk with no known risk factors for
disease who are actually at risk
• Identification of patients under “optimal treatment” who are still
at significant risk despite treatment
• Identification of patients who are candidates, or not, for certain
therapeutics
▶ > 250 peer-reviewed
manuscripts
▶ Proof of Benefit Studies
▶ 2019 Nature Medicine Paper
• Negotiating with health systems currently to demonstrate - plasma samples on ~17K
health economics benefits, or physician/patient activation patients to assess 11 health
and disease states, provides
• A number of tests on the SomaSignal test menu that will allow “scientific underpinnings” for
us to do these studies over a period of months, rather than SomaSignal tests
years (e.g., CHF hospitalization risk, likelihood of a positive ▶ Trials to prove that
workup for ambulatory chest pain, etc.) SomaSignal tests “work” will
likely not be necessary on a
large scale
20Well-Formulated Regulatory Approach
▶ SomaScan Assay
• Will pursue FDA clearance as De Novo Platform / Assay Tool (e.g., Illumina MiSeq)
• Will only need to file updates as content increases or assay platform substantially changes
• Will maintain CAP / CLIA certification for RUO and LDT where applicable
▶ SomaSignal Tests
• Will seek “modular” approach (similar to Apple and others)
• Will file de novo clearance for 1-3 SomaSignal tests as 510k Software as a Medical Device (SaMD)
• Subsequent filings will use SaMD Special Controls, rather than entire re-approval process
▶ Regulatory Strategy
• Short-term goal is clinical acceptance in Risk-Bearing SomaSignal market and DTC SomaSignal clearance à
direct reimbursement facilitation
• Not seeking near-term third-party payment for most SomaSignal tests, as pipeline has >100 tests
• Will encourage bundled purchase of tests from Risk-Bearing SomaSignal market in capex fashion
• Will likely seek payment for some tests involved in “complex” guidelines (e.g., cancer biologic therapy response
prediction) later
Initial FDA filing on SomaScan Assay (platform) + ~1-3 initial tests anticipated in 1H:2021
21Proprietary, Expanding High-Quality Proteomics Database
~300k samples run on the assay to-date and anticipated to have ~2M cumulative samples by 2024
▶ Rigorously curated: enables advanced understanding of the proteome and SomaSignal tests
development (including regulatory filing preparation)
▶ Powerful asset and substantial source of value over time, as broader dataset is implemented on
incremental biopharma partnerships and FDA filing (in 1H:2021)
▶ Multiple monetization opportunities – curated access to discovery market customers, development of
recommendation engines, development of clinical decision support products, among others
22SomaLogic: Driving the Proteomic Revolution
SomaScan SomaSignal
Discovery Alliance: Self-Pay:
Transforming Drug Release of First Tranche of
Development and Disease Protein Pattern-Based Medical
Understanding, Yielding a Dx Tests (in 2019) for Precision
Growing Consumables and Health, Wellness and Disease
Solutions Business Insights
SomaSignal
Core Technology Risk-Bearing:
Advanced Over ~20 Years, The Ability to Inform Health
with ~$365M+ of System and Payor Precision
Population Health with Data
Equity Investment
Never Before Available
(beginning in 2022)
SomaSignal DTC:
Strong Strategic and The Leading Edge
Business Relationships Provider of Democratized
with Blue Chip Healthcare Information
Pharma & Biotechs Directly to Individuals
(beginning in 2023)
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