Immutep Ltd · ASX:IMM
Immutep — Prima BioMed — Investor Presentation (May 2015)
23 slides from Immutep's investor presentation, May 19, 2015
Slide 1: 2015 Capital Raising Presentation
Nasdaq: PBMD, ASX:PRR 2015 Capital Raising Presentation 19 May 2015 Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Slide 2: Immuno-Oncology: A cancer treatment revolution
2 Nasdaq: PBMD, ASX:PRR Immuno-Oncology: A cancer treatment Revolution Our LAG-3 programs: An important part of the Revolution Beneficiaries: Patients...and our shareholders 19 May 2015 Capital Raising Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Slide 3: Notice: Forward Looking Statements
3 Notice: Forward Looking Statements The purpose of the presentation is to provide an update of the business of Prima BioMed Ltd ACN 009 237 889 (ASX:PRR; NASDAQ:PBMD). These slides have been prepared as a presentation aid only and the information they contain may require further explanation and/or
Slide 4: Prima BioMed – Who are we?
4 Prima BioMed – Who are we? - A cancer drug development company focused on immuno- oncology, a revolutionary new field of cancer treatment - Our original product, CVacTM, is a cancer vaccine with favourable clinical data in second-remission ovarian cancer - After acquiring Paris-based Immutep (comp
Slide 5: A Transformative Capital Raising
A TRANSFORMATIVE CAPITAL RAISING 19 May 2015 Capital Raising Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au Nasdaq: PBMD, ASX:PRR
Slide 6: Prima plans to raise A$20m
6 Prima plans to raise A$20m - Ridgeback Capital Investments, a US-based specialist healthcare investor, is investing A$15m in Prima - Ridgeback has taken an immediate placement of ~72 million Prima shares at 1.73 cents per share, worth approx. A$1.25m - Ridgeback will invest the remainder of its A$
Slide 7: Significant cash reach achieved
7 Significant cash reach achieved - Proceeds fund two new clinical trials with Prima’s lead product, IMP321 (soluble recombinant LAG-3) * A Phase IIb chemo-immunotherapy trial of IMP321 together with paclitaxel to treat metastatic breast cancer in patients ineligible for Herceptin® * A Phase I trial
Slide 8: A transformative capital raise
8 A transformative capital raise - Ridgeback is a highly regarded and fundamentally oriented investor in established and emerging healthcare companies - Ridgeback, which knows immuno-oncology very well, to name new Prima director - Ridgeback due diligence represents strong validation of Prima’s stra
Slide 9: Prima BioMed Today – A Leading Immuno-Oncology Company
PRIMA BIOMED TODAY – A LEADING IMMUNO-ONCOLOGY COMPANY 19 May 2015 Capital Raising Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au Nasdaq: PBMD, ASX:PRR
Slide 10: Prima BioMed today…
10 Prima BioMed today… = Immuno-oncology – Probably the most important field of cancer drug development today = LAG-3 – An increasingly important immuno-oncology target, which we dominate = Shareholder value as the market recognises the value of our products 19 May 2015 Capital Raising Presentation
Slide 11: LAG-3 both inhibits and activates immune response
LAG-3* both inhibits and activates 11 immune response * The Lymphocyte Activation Gene 3 product - On the surface of T cells, can inhibit them from killing cancer cells - Our soluble LAG-3 (sLAG) can activate the immune system to kill cancer cells by binding to molecules on APCs called MHC Class II,
Slide 12: Three significant partners
12 Three significant partners Phase I Phase IIa Phase IIb Phase III Our partners IMP321 Cancer GSK2831781 Autoimmune diseases IMP701 Cancer 19 May 2015 Capital Raising Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au Nasdaq: PBMD, ASX:PRR
Slide 13: IMP321 doubled response rate in metastatic breast cancer Phase IIa
IMP321* doubled response rate in 13 metastatic breast cancer Phase IIa *Soluble LAG-3 (sLAG) 60% - PRR believes IMP321 will work in combination with other immune Response rate (RECIST criteria) 50% 40% checkpoint regulators and other chemotherapies 30% 20% - Randomised, placebo-controlled Phase IIb
Slide 14: GSK2831781 to treat autoimmune diseases
GSK2831781* to treat 14 autoimmune diseases *LAG-3 depleting antibody - GSK2831781 is based on Immutep‘s original IMP731 antibody - Dec. 2010: GlaxoSmithKline licensed from Immutep the right to develop LAG-3 depleting antibodies for autoimmune disease - ₤64m total deal package (~A$124m as at 13 May
Slide 15: IMP701 brings Novartis into the LAG-3 camp
IMP701* brings Novartis 15 into the LAG-3 camp * Antagonist (ie blocking) anti-LAG-3 antibody - 2012: US biotech CoStim licensed LAG-3 antagonists for cancer from Immutep - Feb. 2014: Novartis bought CoStim for undisclosed sum - History: Novartis persevered with Gleevec® - today a super-blockbuster
Slide 16: Our basic CVac thesis seems correct
Our basic CVac thesis seems correct 16 CVac Hazard Ratio = - Thesis: Mannan+MUC1* will generate tumour- 0.17 for second destroying immune response in ovarian cancer remission ovarian cancer Evidence Progression-Free Survival: Nov. 2014, 8 month advantage for second remission patients 45 40 (CAN-003
Slide 17: Why Investors Should Look at Prima Again
WHY INVESTORS SHOULD LOOK AT PRIMA AGAIN 19 May 2015 Capital Raising Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au Nasdaq: PBMD, ASX:PRR
Slide 18: Until recently, the market hasn't liked us much
Until recently, the market hasn’t 18 liked us much (Oct. ’14 – May. ’15) $0,05 - Concerns over cash reduction from $0,04 Immutep acquisition and need for more capital AUD share price for PRR on ASX $0,03 - Lack of familiarity with Immutep programs $0,02 - Disappointment regarding the cessation of CV
Slide 19: Six reasons why investors should look again
Six reasons why investors should 19 look again - Depth: We are now a multi-product company - Important market space. Immuno-oncology is the most important area of cancer R&D today. - Superior technology: With LAG-3, we are in a strong position within the emerging immuno-oncology drug class - Partner
Slide 20: Prima is one of the least expensive of our peer group
Prima is one of the least 20 expensive of our peer group USDm market capitalisation as at 19 May 2015 PRR US$40m 19 May 2015 Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) 7ww.primabiomed.com.au Nasdaq: PBMD, ASX:PRR
Slide 21: Potential for great news flow…
21 Potential for great news flow … - GSK milestone reached ✓ - MTA with NEC and Yamaguchi ✓ - CAN-003 final Overall Survival data ✓ - Start of Phase IIb with IMP321 - Start of immuno-combination study with IMP321 - Start of Phase I for IMP701 - Continued expansion of intellectual property - R&D for
Slide 22: Thank you Merci Danke
Thank you Merci Danke Stuart Roberts, Global Head of IR Professor Frédéric Triebel, CSO Marc Voigt, CEO [email protected] [email protected] [email protected] +61 (0) 447 247 909 Nasdaq: PBMD, ASX:PRR
Slide 23: Our stock
Our stock 23 - Current market cap: A$50.5m (as at 19 May 2015) - Current share price: 3.4 cents (AUD) - Shares on issue, pre Ridgeback (ASX: PRR): 1.48 billion - Listed options on issue (ASX: PRRO), 77.4 million (5.6% of current issued capital), exercisable at 20 cent by 19/6/2017 - Unlisted options