Opthea Limited · ASX:OPT
Opthea — Circadian Technologies — Investor Presentation (July 2009)
31 slides from Opthea's investor presentation, Jul 9, 2009
Slide 1: Corporate Presentation
Corporate Presentation 9 July 2009 Robert Klupacs, CEO & Managing Director Circadian Technologies (ASX.CIR)
Slide 2: Disclaimer
Disclaimer Investment in Circadian Technologies Limited (‘Circadian’) is subject to investment risk, including possible loss of income and capital invested. Neither Circadian nor any other member company of the Circadian Group guarantees any particular rate of return or performance, nor do they guar
Slide 3: New direction in cancer therapies
New direction in cancer therapies • Developing antibody therapies to treat cancer – a major global opportunity • Break through technology - anti-angiogenic approach • Partnered programs - leading international biotechs • Deep pipeline of products • Other disease applications • Dominant IP position
Slide 4: An investment with significant upside
An investment with significant upside • Therapeutic antibodies – Major focus of big pharma – High value early stage deal opportunities and M&A opportunities • Deep diverse product pipeline – One product at Phase III (partnered & fully funded) – Potential multi-million dollar royalties – Royalty flow
Slide 5: Therapeutic Antibodies: A major development opportunity
Therapeutic Antibodies A major development opportunity • Exquisite targeting-improved probability of success (compared to small molecule drugs) • Major successes in cancer treatment: Avastin®, Herceptin®, Erbitux®, Mabthera® • Extremely large markets • Major focus of big pharma – High value early st
Slide 6: Antibodies: A rich deal environment
Antibodies: A rich deal environment • Antibodies are one of the most valuable sectors of the market – 21 antibody drugs on the market – Mostly in cancer and inflammation – Current sales of top ten antibodies > $US20B pa – Total sales growing by >30% annually – Greater competitive barrier to entry –
Slide 7: Antibodies: A rich deal environment (cont)
Antibodies: A rich deal environment (cont) • Strong interest in antibodies from pharma in M&A and early stage licensing: • M&A over last 2 years: – Medimmune/AstraZeneca – US$15.5b – Cambridge Antibody Technologies/AstraZeneca – US$1.3b – Domantis/GSK – US$435m – Adnexus/BMS – US$425m – Morphotek/Ei
Slide 8: Oncology Antibodies: Pre-clinical Deals
Oncology Antibodies: Pre-clinical Deals Parties Date Size Technology BioInvent/Thrombogenics Jun 08 $US800M Exclusive licence to PlGF Abs in /Roche oncology. $US75M upfront. $US700M milestones. Double digit royalties Micromet/Bayer-Schering Jan 09 $US396M Option to Ab against undisclosed oncology ta
Slide 9: Circadian's Deep Therapeutic Products Pipeline
Circadian’s Deep Therapeutic Products Pipeline
Slide 10: Anti-Angiogenic Agents Targeting the VEGF/VEGFR Family
Anti-Angiogenic Agents Targeting the VEGF/VEGFR Family Competitive environment reflects clinical/commercial potential Genentech Genentech Circadian Circadian Circadian Circadian Circadian Circadian ImClone ImClone(Circadian Licensee) ) (CircadianLicensee ImClone ImClone Avastin Avastin VGX-100 VGX-1
Slide 11: Anti-Angiogenic Agents Targeting the VEGF/VEGFR Family
Anti-Angiogenic Agents Targeting the VEGF/VEGFR Family Competitive environment reflects clinical/commercial potential Circadian Circadian Circadian Circadian Circadian Circadian ImClone ImClone(Circadian (CircadianLicensee) Licensee) VGX-100 VGX-100(anti-VegF-C) (anti-VegF-C) VGX-200 VGX-200(anti-Ve
Slide 12: Circadian controls rights to nearly half the products
Anti-Angiogenic Agents Targeting the VEGF/VEGFR Family Competitive environment reflects clinical/commercial potential Circadian Circadian Circadian Circadian VGX-200 VGX-200 (anti-VegF-D) (anti-VegF-D) VGX-300 VGX-300 (VEGFR-3-Fc) (VEGFR-3-Fc) Circadian Circadian ImClone ImClone (Circadian (Circadia
Slide 13: Circadian's Deep Product Pipeline
Circadian’s Deep Product Pipeline • Four drug development programs – Including three antibodies – Target different mediators of the process of angiogenesis – Focus is on treatments for cancer • One late stage clinical asset, Trinam® – Phase 3 clinical trials commenced Jan 2009
Slide 14: Technology centred on anti-angiogenesis
Technology centred on anti-angiogenesis • Angiogenesis is the growth of new blood vessels • Tumour growth is caused by stimulation of new blood vessel growth by proteins (e.g. proteins VEGF-A, C, D) • Blocking these proteins blocks blood vessel growth (anti-angiogenesis) leading to tumour starvation
Slide 15: The role of Vascular Endothelial Growth Factor (VEGF)
The role of Vascular Endothelial Growth Factor (VEGF) • Our technology is centred on two members of the VEGF family of proteins: VEGF-C & VEGF-D and their activation on VEGF receptors VEGFR-2 and VEGFR-3 • These proteins promote blood and lymphatic vessel development • Targeting this process has the
Slide 16: The role of Vascular Endothelial Growth Factor (VEGF)
The role of Vascular Endothelial Growth Factor (VEGF) Go to Company video at www.circadian.com.au
Slide 17: An exciting commercial opportunity
An exciting commercial opportunity • Anti-angiogenesis drugs arguably the most significant recent advancement in cancer therapy • Potential to treat virtually all cancer types with minimal side effects • Avastin®: Fastest sales growth of any drug – First anti-angiogenesis drug, approved Feb 2004 – A
Slide 18: An exciting commercial opportunity (cont)
An exciting commercial opportunity (cont) • Avastin®: Effective but not across the board – Not all patients respond to therapy (30-50% response rate) – 25-50% of responders become “resistant” within 12 to 18 months – Likely reasons: • Tumour growth due to factors other than VEGF-A; and/or • Other an
Slide 19: Strategy for extracting pipeline value
Strategy for extracting pipeline value • Objective is to secure pre-clinical partnerships for one or more of our therapeutic programs • Retain development of one selected therapeutic to proof of efficacy in humans – partner thereafter • Selectively exploit / commercialise other aspects of portfolio:
Slide 20: Existing partnered programs
Existing partnered programs • Established partner programs with leading international biotechs in their fields - Ark Therapeutics plc (LSE:AKT) - Phase III clinical trial for Trinam® - ImClone Systems Inc (recently acquired by Eli Lilly & Co) (NYSE:LLY) – developing anti- cancer drug - Healthscope L
Slide 21: Phase III product Trinam
Phase III product Trinam® Significant benefits for kidney dialysis patients • Phase 3 trials commenced Jan 2009 under SPA – Expected recruitment 250 patients over 18 months • VEGF-D gene therapy product – license under Circadian patents • Extends lifetime of dialysis access grafts: – Phase 2 trials
Slide 22: IMC-3C5 (human anti-VEGFR-3 mAb) for cancer
IMC-3C5 (human anti-VEGFR-3 mAb) for cancer ImClone/Eli Lilly • Formal internal product development candidate • IND planned H1 2010 • Currently completing manufacturing development and animal safety testing • Wide range of peer reviewed literature – Significant results presented at AACR 2009 • Likel
Slide 23: Other potential revenue generating assets
Other potential revenue generating assets • Cancers of Unknown Primaries (CUP) Molecular Diagnostic – Ownership and exclusive commercialisation rights in US, Europe and Japan; partnered with Healthscope for other territories – US incidence of CUP 60,000 to 100,000 per annum – Test to sell for betwee
Slide 24: Dominant and protected IP position
Dominant and protected IP position • Granted IP rights in major territories to VEGF-C/D proteins and VEGFR-3 and blockers • Applications in cancer and certain other diseases • IP rights over product candidates extend beyond 2020 • Further strategic IP filings being made to extend patent life • Freed
Slide 25: Experienced and talented management team
Experienced and talented management team • Robert Klupacs (CEO) • Natalie Korchev (CFO & Head of Operations) • Dr Alex Szabo (Head Business Development) • Dr Megan Baldwin (Head Pre-clinical Development) • Dr Mike Gerometta (Head CMC Development) • Dr Richard Chadwick (Head Intellectual Property) •
Slide 26: Product Development Advisory Committee
Product Development Advisory Committee • Vast experience in international drug development and oncology. Collective experience in over 150 drug developments – Errol Malta (Chair): ex Amgen – George Morstyn: ex CMO Amgen – Russell Howard: CEO Nasdaq listed Maxygen – Ralph Smalling: ex Amgen Reg Affai
Slide 27: Company with strong financial position & shareholder base
Company with strong financial position & shareholder base Top 10 shareholders: 51.8% Investor % of issued Financial Summary @ 9 July 09 shares Packer and Co Limited 17.1 Stock code: CIR Select Asset Management Ltd 8.1 Ludwig Institute for Cancer 5.7 Share price: 75c Research Licentia Ltd 5.6 Shares
Slide 28: Expected events next 12 months
Expected events next 12 months • Trinam® (licensee Ark Therapeutics) – Phase 3 trial: enrolment update • VEGFR3 Abs IMC-3C5 for cancer (licensee ImClone) – IND filing • CUP molecular diagnostic – Validation of diagnostic test completed by Healthscope
Slide 29: Expected events next 12 months (cont)
Expected events next 12 months (cont) • VGX cancer drug development program – VGX-100 commencement of GLP toxicology – VGX-200 lead drug candidate selection – VGX-300 Manufacturing milestone achieved – Publication of data from animal experiments – all programs • Updates from key collaboration partne
Slide 30: Circadian – An investment with significant upside
Circadian – An investment with significant upside Deep Diverse Product Pipeline •One product at Ph 3 •Four drug development programs targeting different mediators of cancer – three antibody drugs Partnership Opportunities •Two existing deals •Antibodies – major focus of big pharma •High value space
Slide 31: Circadian – An investment with significant upside
Circadian – An investment with significant upside Competitive IP Dominant IP position over key mediators of angiogenesis and tumour spread Revenue stream Existing and increasing royalty flow possible within 24-36 months People Track record of deal making & drug development success News flow Potentia
Circadian Technologies — Investor Presentation (July 2009) on 6ix