Allergy Therapeutics Plc · LSE:AGY
Allergy Therapeutics — H1 2021 Earnings Presentation
28 slides from Allergy Therapeutics's earnings presentation, Mar 3, 2021
Slide 1: 2021 set to be an important year
2021 set to be an important year Interim Results for the six months ending 31 December 2020 Manuel Llobet, Chief Executive Officer Nick Wykeman, Chief Financial Officer Alan Bullimore, Head of Business Innovation 1
Slide 2: Disclaimer
Disclaimer The information contained in this presentation (“Presentation”) is being This Presentation includes “forward-looking statements” which include supplied to you solely for your information and may not be copied, reproduced all statements other than statements of historical facts, including,
Slide 3: Financial and operational highlights
Financial and operational highlights VLP peanut candidate Ex vivo biomarker study in progress increase in Results expected in Spring 2021 7% actual revenue to £54.0m (2019 £50.5m) Grass MATA MPL Exploratory field trial now fully recruited Record operating profit pre R&D up 18.5% Results expected in
Slide 4: Three Pillars to Growth: Advancing a Leading Allergy Immunotherapy Company
Three Pillars to Growth: Advancing a Leading Allergy Immunotherapy Company 01 02 03 Strong pipeline Expanding in Europe Preparing for US entry New technologies underpin Strongly performing Significant opportunity pipeline breadth and depth profitable business in largest allergy market Growing market
Slide 5: European Business – 2021 Half Year Results
European Business – 2021 Half Year Results Solid sales growth of 7% at actual rates in 2021 Good growth Initial Brexit Focused cost Regulatory Potential for tempered by impact slowdown but goods efficiencies while environment still Immunobon of COVID, especially flowing more investing in future chal
Slide 6: Innovative, Broad Pipeline and Marketed Products
Innovative, Broad Pipeline and Marketed Products Also available as a Pre-clinical Phase I Phase II Phase III Market/Registered Named Patient Product Grass MATA Short-course SCIT Tree MATA Short-course SCIT Ragweed MATA Short-course SCIT Bee Venom SCIT Short-course SCIT Wasp Venom SCIT Short-course S
Slide 7: Grass MATA MPL
Grass MATA MPL Phased Phase III Just one Phase III efficacy programme underway to trial and completion of provide data to support US safety database away from and EU authorisation filing in US Both trials (G309 and G306) Key product for US fully funded introduction – Ragweed and Birch would be produ
Slide 8: VLP Peanut product
VLP Peanut product Single dose of virus like Ex vivo biomarker trial with particle (VLP) with Imperial College underway recombinant peanut allergen and due to read out Spring successfully protects against 2021 anaphylaxis when challenged with peanut in pre clinical model Industrial scale-up progress
Slide 9: Draft Trial Protocol for VLP Peanut P101
Draft Trial Protocol for VLP Peanut P101 Planned timing STEP 1 H1 2022 Updosing with VLP Peanut to confirm tolerability of VLP STEP 2 Skin prick testing with VLP Peanut in peanut allergic patients STEP 3 Updosing with VLP Peanut in peanut allergic patients STEP 4 Fixed dose proof of concept with VLP
Slide 10: Increased investment in VLP Technology
Increased investment in VLP Technology • Exclusive licence agreements signed to use patented VLP technology platform to develop vaccines targeting oncology and immune conditions – • Cancer (Melanoma) • Asthma • Atopic Dermatitis • Psoriasis • Proof of concept studies underway • IP registration in pr
Slide 11: immunoBON - Strengthening a Broad Portfolio
Strengthening a Broad Portfolio immunoBON® - to treat and prevent allergies by mimicking the “farm effect” • Uses Lipocalins, that are found in raw milk and farm dust, which are proteins that can protect from allergy. • Treatment for multiple allergens with studies already complete in Birch and Hous
Slide 12: Financial Results
Allergy Therapeutics "°
Slide 13: P&L – six months ended December 2020
P&L – six months ended 31 December 2020 2021 2020 Variance % £’m £’m £’m +7% Revenue 54.0 50.5 3.5 7% Robust sales performance Gross profit 42.3 39.1 3.2 8% Despite COVID-19 and Brexit Overheads (22.1) (21.8) (0.3) 1% +£0.3m R&D - Expenditure (4.7) (4.5) (0.2) Overheads up - Settlement 3.2 (3.2) due
Slide 14: Balance sheet at December 2020
Balance sheet at 31 December 2020 2021 2020 Variance £'m £'m £'m £1.4m Non-current assets Property , plant and equipment 19.5 20.3 (0.8) Increase in inventory due to Brexit preparation Intangible assets 4.4 4.6 (0.2) Investments 5.9 5.5 0.4 29.8 30.4 (0.5) Current assets £2.0m Inventories Trade and
Slide 15: Cashflow for the six months ended December 2020
Cashflow for the six months ended 31 December 2020 2021 2020 £’m £’m £’m £’m Positive net cash Opening cash balance 1st July 37.0 27.4 generated by good sales, Profit before tax 15.6 15.9 cost phasing and control Adjustments re operations (2.9) (1.6) Net cash generated by operations 12.7 14.3 Tax re
Slide 16: Summary and outlook
Allergy Therapeutics "° Summary and outlook
Slide 17: 2021 set to be an important year
2021 set to be an important year Delivering against Drive further growth our strategy: three in sales and pillars to growth maximise ImmunoBON launches Results from Grass MATA MPL exploratory field study (G309) in Focused strategy to autumn 2021 be first to market in the US SCIT segment Results of P
Slide 18: Key milestones
Key milestones Grass MATA MPL Grass MATA MPL (G309) – Results exploratory field study (G309) – Grass MATA MPL Grass MATA MPL Study start pivotal Phase III– pivotal Phase III ImmunoBON – Study start launch trial – Results 2020 2021 2022 2023 VLP Peanut Phase I (P101) – First in human study start plan
Slide 19: Appendix
Allergy Therapeutics °° 19
Slide 20: Allergy Therapeutics
Allergy Therapeutics Unique Selling Point - Ultra- Successful trading short course treatment model - 9% annual technology platforms revenue growth over the last 22 years Potential to cure, not just Leading aluminium-free treat symptoms subcutaneous allergy vaccines Only truly innovating business in
Slide 21: Allergy Therapeutics: Company with Solid Sales and Global presence
Allergy Therapeutics: Company with Solid Sales and Global presence Sales and marketing network comprising c.140 European sales force Latvia Estonia Lithuania South Korea Belarus Netherlands Poland UK Germany Czech Rep. Slovakia Austria Switzerland Serbia Italy Albania Spain Portugal Greece Canada Ma
Slide 22: PQ: Differentiated platform approach enhances compliance and efficacy
PQ: Differentiated platform approach enhances compliance, leads to higher efficacy and successful outcomes MPL Adjuvant MPL Adjuvant MPL (Monophosphoryl MPL allows Specific Lipid A) is a non-toxic Immunotherapy (SIT) derivative of treatment course to be lipopolysaccharide shortened (big impact on (L
Slide 23: Science of immunoBON
Science of immunoBON® What we already know: “raw milk-effect”: raw milk protects from allergies “farm-effect” based on “Hygiene hypothesis”: living close to traditional cattle farms protects from allergies What is new: Lipocalins, that are found in raw milk and farm dust, are proteins that can
Slide 24: immunoBON clinical studies
immunoBON® clinical studies Study overview: Study Design: We assessed the effect of a new dietary supplement (immunoBON®) containing whey proteins such as BLG, iron, retinoic acid, zinc and polyphenols on participants suffering from house dust mite (HDM) induced allergic rhinoconjunctivitis. Results
Slide 25: Virus like particle (VLP) platform
Virus like particle (VLP) platform • VLP platform has potential in many different allergy areas. • Sophisticated technology with potential to treat severe and extreme allergies • Engineered with a T-cell epitope derived from the tetanus toxin • Leads to activation of memory cells • Increased antibod
Slide 26: The changing US regulatory landscape offers potential for significant commercial growth
The changing US regulatory landscape offers potential for significant commercial growth Current US SCIT market Allergy Therapeutics’ entry in the US • Home made, unlicensed New USP and FDA • Standardised dose vaccine preparation regulations drive towards pharmaceutical • GMP manufactured • Non GMP m
Slide 27: Preparing for US entry
Preparing for US entry >100 injections Capturing the Current treatment: up to 100 $2bn opportunity injections over 3-5 years*** estimated allergy immunotherapy market** New USP and FDA regulations drive towards pharmaceutical 2-3m grade, centrally manufactured, Americans receive allergy single aller
Slide 28: Sales – six months ended December 2020
Sales – six months ended 31 December 2020 2021 2020 Variance % £’m £’m £’m Good sales growth driven by Gross Revenue at Constant good performance in 55.9 53.8 2.1 4% Exchange Rate Northern Europe Rebate at Constant (2.8) (3.3) 0.5 Exchange Rate Growth in Pollinex, Pollinex Quattro and Venomil Net Re