OmniAb, Inc. · NASDAQ:OABI
OmniAb — Investor Presentation (August 2023)
35 slides from OmniAb's investor presentation, Aug 10, 2023
Slide 1: OmniAb, Inc.
1 OmniAb, Inc. Nasdaq: OABI August 10, 2023
Slide 2: Disclaimer
2 Disclaimer We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business stra
Slide 3: Our Business
3 Our Business LEVERAGING OUR PROPRIETARY DISCOVERY TECHNOLOGY PLATFORM WORLDWIDE Technology Offering Addresses Most One of the Largest Greenfields Critical Challenges of Discovery in the Pharma Industry Create, Screen, Deliver antibodies leveraging $279 billion total addressable market industry’s o
Slide 4: Mission
Our mission is to enable the rapid Mission development of innovative therapeutics by pushing the frontiers of drug discovery technologies.
Slide 5: Antibodies and Industry Demand
5 Antibodies and Industry Demand HIGHER CLINICAL SUCCESS RATES FOR ANTIBODY MEDICINES DRIVE OUR INDUSTRY’S NEED FOR DISCOVERY TECHNOLOGY Acceleration of Regulatory Increasing Antibody Market Approvals (FDA and EMA) • $279B in antibody sales by 2025 (up from ~$238B in 2022) 70 • 51 blockbuster antibo
Slide 6: Growth of Partner Programs
6 Growth of Partner Programs PROGRESSION AND PERFORMANCE IN PROGRAMS BY STAGE OF DEVELOPMENT 305 Active Programs as of 06/30/2023 Phase 3: 1 21 Active Programs Phase 2: 2 BLA: 1 as of 2016(1) Phase 1: 22 Approved: 3 Preclinical: 15 Preclinical: 1 Discovery: 20 Discovery: 261 Substantial progress in
Slide 7: Performance Indicators
7 Performance Indicators SIGNIFICANT GROWTH IN ACTIVE PARTNERS AND ACTIVE PROGRAMS Number of Active Number of Active Partners Programs • 4 new license agreements signed in Q2 80 350 ‒ New platform license agreements with Merck & Co. Inc., Neurocrine Biosciences Inc., Stanford University, 70 300 and
Slide 8: Select OmniAb Partners
8 Select OmniAb Partners >70 COMPANIES CURRENTLY HAVE ACCESS TO OMNIAB ANTIBODIES
Slide 9: Performance Indicators
9 Performance Indicators ACTIVE CLINICAL PROGRAMS AND APPROVED PRODUCTS Number of Active Clinical Programs and • 2 new programs entered the clinic in Q2 Approved Products ‒ IMVT-1402 (Immunovant): Next-generation FcRn antagonist 30 ‒ GLS-012 (Gloria): anti-LAG-3 25 • 3 new programs have entered the
Slide 10: Q2 2023 and Recent Updates
10 Q2 2023 and Recent Updates SELECT RECENT DEVELOPMENTS SHOW CONTINUED PARTNER MOMENTUM Batoclimab IMVT-1402 CSX-1004 APVO436 GSK Program-1 FcRn FcRn Anti-fentanyl CD123 x CD3 Ion Channels and (and related synthetic opioids) Transporters • Immunovant is conducting • Immunovant initiated a • Cessati
Slide 11: The OmniAb Platform
11 The OmniAb Platform TECHNOLOGY OFFERING IS PAIRED WITH OUR HIGHLY SPECIALIZED AND EFFICIENT OPERATIONS Create Screen Deliver Create Diverse Repertoires of Screen Millions of Cells to Find Further Characterize, Select & High-Quality Antibodies Potential Therapeutic Candidates Optimize the Right An
Slide 12: The OmniAb Technology Offering
12 The OmniAb Technology Offering TECHNOLOGY OFFERING ADDRESSES THE MOST CRITICAL CHALLENGES OF ANTIBODY DISCOVERY Create Screen Deliver Create Diverse Repertoires of Screen Millions of Cells to Find Further Characterize, Select and High-Quality Antibodies Potential Therapeutic Candidates Optimize t
Slide 13: What is Biological Intelligence™?
13 What is Biological Intelligence™? • We believe that antibodies generated in vivo are superior to ones from other sources because they are naturally optimized through an iterative process that preferentially selects for antibodies with excellent specificity and developability profiles • The abilit
Slide 14: The OmniAb Platform
14 The OmniAb Platform Create Screen Deliver Antibody Generation Technologies We believe generating large and diverse repertoires of high-quality antibodies increases the likelihood of Computational discovering the antibody with the Antigen Design & most desirable therapeutic characteristics Proprie
Slide 15: Rodent Platforms
15 Rodent Platforms • Endogenous Ig genes inactivated Light chain loci Heavy chain locus • Expression of full human V gene VL J CL VH DH JH ECCg1 Cg2b e a diversity + Fully human LC Human V, D, Rat constant • Streamlined conversion into fully J human molecule VJ C VDJ C mRNA Human Antibody Well-va
Slide 16: Chicken Platforms: Powered by Evolution
16 Chicken Platforms: Powered by Evolution GREATER EVOLUTIONARY DISTANCE YIELDS GREATER IMMUNOGENICITY AND MORE ANTIBODY DIVERSITY PRIMORDIAL TARGET GENE HUMAN ORTHOLOGUE MAMMALIAN LINEAGE Early form of gene prior to avian/mammalian 300 MILLION ~95 MILLION evolutionary split YEARS AGO YEARS AGO MURI
Slide 17: OmniTaur: Ultralong CDRH3 Create Novel Binding Domains
17 OmniTaur: Ultralong CDRH3 Create Novel Binding Domains UNIQUE STRUCTURAL FEATURES OF ULTRALONG H3 ANTIBODIES CDRH3 CDRH3 Human Cow • Novel structure may enable targeting epitopes unreachable by standard antibodies • Long H3 domains can be expressed on human Stanfield et al. Sci Adv 2020 VH framew
Slide 18: Common Light Chain Platforms for Bispecific Antibodies
18 Common Light Chain Platforms for Bispecific Antibodies STANDARD IgG FORMAT TO DE-RISK DOWNSTREAM DEVELOPMENT† Rearranged IgVK3-15/JK1 JK2-5 IgKC IgVK3-15/JK1 // Rearranged human VK3-15 light chain “Germlining” human VK3-15 light chain combined with diversifying heavy chain Simple reformatting fro
Slide 19: Diverse Formats and Modalities of Preclinical and Clinical Molecules
19 Diverse Formats and Modalities of Preclinical and Clinical Molecules IgG ADC IgG Duobody® Fab-VHH ADAPTIR™ IgG-scFv 4% (IgG4 exchange) (Knob-in-hole) scFv-Fc-scFv Monospecific Multispecific 48% HexaBody® (incl. T cell Fab-Fc/scFv- engager) IgG-Anticalin® TRAAC* Fc-scFv 48% * Toll-like Receptor Ag
Slide 20: Antibody Repertoires
20 Antibody Repertoires NUMEROUS OPTIONS AVAILABLE TO ADDRESS DIVERSE PARTNER OBJECTIVES Structural and Benefits for therapeutics Host V genes immunological features discovery and development • Full human V gene diversity • Diverse V gene usage and mixed • Widely accessible and flexible workflows •
Slide 21: Screening Platforms
21 Screening Platforms Create Screen Deliver Immunization Isolate B-cells Expression Validation Sequence Bioinformatics Hybridoma Workflow Fusion Screen B-cell Enrichment Single-cell Workflow optional NGS Our powerful single B-cell screening technologies, xPloration® and GEM assay, bypass bottleneck
Slide 22: The OmniAb Platform
22 The OmniAb Platform Create Screen Deliver Our discovery teams are flexibly positioned to work closely with partners to identify the right antibody • Data from multi-parameter screening and performance assays used in combination with bioinformatics • NGS hit expansion to identify variant antibodie
Slide 23: Ion Channels and Transporters
23 Ion Channels and Transporters Ions • Ion channels are key components in Ions Outside of cell a wide variety of biological processes that involve rapid changes in cells • Present in all human cells and affect vital functions such as nerve transmission, muscle contraction, cellular secretory proces
Slide 24: Ion Channels and Transporters
24 Ion Channels and Transporters DIFFERENTIATED ION CHANNELS AND TRANSPORTERS DISCOVERY PLATFORM AT OMNIAB • One of industry’s most experienced teams of ion channel discovery experts Collaborations for High-Value Targets • Continuous expansion and development of cutting-edge technologies including h
Slide 25: Intellectual Property Advantage
25 Intellectual Property Advantage PARTNERS FILING PATENTS ON OMNIAB-DERIVED ANTIBODIES CAN CREATE DIVERSE AND DURABLE ROYALTY STREAMS AND A LENGTHY IP TAIL Antibody Patent Applications Over 300 patents issued worldwide Filed by Partners 80 • We maintain a broad intellectual property estate with mul
Slide 26: Business Model
26 Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: • Upfront/Access fees • Potential Collaboration/Service revenue • Milestones • Royalties on commercial sales
Slide 27: Illustrative Antibody Deal Structure
27 Illustrative Antibody Deal Structure Profile A Profile B Potential IP Extension Potential IP Extension Year 0 5 10 15 20 25 Year 0 5 10 15 20 25 Collaboration/ Clinical & Regulatory Royalties: Collaboration/ Clinical & Regulatory Royalties: Access Fees: Milestones: ~Low Single Access Fees: Milest
Slide 28: Q2 2023 vs. Q2 2022 Financial Results
28 Q2 2023 vs. Q2 2022 Financial Results Table includes rounded figures. Please reference press release dated 8.10.2023 for more detailed information.
Slide 29: Balance Sheet - June ‘23 vs December ‘22
29 Balance Sheet - June ‘23 vs December ‘22 Business is close to break-even cash flow Expect to end 2023 with slightly more cash than 12/31/22 cash balance Current cash balance and cash from operations expected to provide sufficient capital to fund operations for foreseeable future Table includes ro
Slide 30: Quarterly Results
30 Quarterly Results ($ Millions) Q1 '22 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Q2 '23 License and milestone revenue $ 4.1 $ 2.3 $ 1.4 $ 31.1 $ 12.6 $ 4.3 Service revenue 5.3 4.7 4.9 3.9 4.0 2.5 Royalty revenue 0.3 0.1 0.6 0.4 0.3 0.2 Total revenues 9.6 7.2 6.9 35.3 16.9 6.9 Research & development 10.8 11.5 13
Slide 31: FY 2021 and 2022 Financial Results
31 FY 2021 and 2022 Financial Results ($ Millions) FY21 FY22 Variance License and milestone revenue $ 14.7 $ 38.9 $ 24.3 Service revenue 20.1 18.8 (1.3) Royalty revenue 0.0 1.4 1.4 Total revenues 34.7 59.1 24.3 Research & development 39.2 48.4 9.1 General & administrative 16.9 24.9 8.0 Amortization
Slide 32: Share Information – as of 6/30/23
32 Share Information – as of 6/30/23 (in millions) • Basic Shares Basic Share Count 99.9 ‒ Common Shares Outstanding/Public Float Total Earnout Shares 16.3 • Earnout Shares ‒ 50% vest at $12.50, 50% vest at $15.00 RSU/Options/Warrants ‒ VWAP of stock for 20 out of 30 consecutive Employee Unvested RS
Slide 33: Our Key Areas of Focus Going Forward
33 Our Key Areas of Focus Going Forward WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH We Leverage a Highly Scalable Business where Investments in Technologies and Innovation are Informed by Discovery Relat
Slide 34: For more information, please visit www.omniab.com
34 For more information, please visit www.omniab.com
Slide 35: Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline
35 Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline AS OF 06/30/2023 Partner Program Source Animal Therapy Area Target Phase 1 Phase 2 Phase 3 Registration Approved Zimberelimab OmniRat Oncology PD-1 Sugemalimab OmniRat Oncology PD-L1 Teclistamab OmniRat Oncology BCMA x CD3 Bato