Developing First-in-Class Treatments in Haematologic Cancers DNB Healthcare Conference, Thursday December 15 th, 2016

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1 Developing First-in-Class Treatments in Haematologic Cancers DNB Healthcare Conference, Thursday December 15 th, 2016 \\AD.JEFCO.COM\BANKING\HEALTHCARE INTL\DEALS\NOR45600IB - TARGET\2. FROM COMPANY\ UPDATED NANO TARGET DECK\NANO - TARGET LC V5 - MHN.PPTX 12/2/16 7:55 PM

2 Forward-looking statements This presentation may contain certain forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on Nordic Nanovector s business, financial condition and results of operations. The terms anticipates, assumes, believes, can, could, estimates, expects, forecasts, intends, may, might, plans, should, projects, will, would or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied in a forward-looking statement or affect the extent to which a particular projection is realised. Factors that could cause these differences include, but are not limited to, implementation of Nordic Nanovector s strategy and its ability to further grow, risks associated with the development and/or approval of Nordic Nanovector s products candidates, ongoing clinical trials and expected trial results, the ability to commercialise Betalutin, technology changes and new products in Nordic Nanovector s potential market and industry, the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions and legislative, regulatory and political factors. No assurance can be given that such expectations will prove to have been correct. Nordic Nanovector disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 2

3 Nordic Nanovector at a glance Focused on the development of targeted therapies for haematological cancers Pipeline led by Betalutin for treating non-hodgkin lymphoma (NHL) Clear plan to bring Betalutin to market Deep pipeline of targeted therapies for haematological cancers Listed on the Oslo Stock Exchange (OSE: NANO) market cap. approx. NOK 4.8 billion* IPO March 2015, raising gross proceeds of NOK 575 million Private placement December 2016, raising gross proceeds of NOK 499 million * As at 14 December 2016 \\AD.JEFCO.COM\BANKING\HEALTHCARE INTL\DEALS\NOR45600IB - TARGET\2. FROM COMPANY\ UPDATED NANO TARGET DECK\NANO - TARGET LC V5 - MHN.PPTX 12/2/16 7:55 PM 3

4 Leveraging expertise to develop a broad pipeline of targeted therapies for haematological cancers Betalutin ADC: antibody-drug conjugate; ARC: antibody-radionuclide conjugate; ASCT: autologous stem cell transplant; DLBCL: diffuse large B-cell lymphoma; FL: follicular lymphoma; NHL: non-hodgkin lymphoma 4

5 Betalutin is specifically designed to treat NHL Design Property Differentiation CD37 a validated target for B-cell NHL Highly expressed in B-cells Antibody internalization anchors the payload to cancer cells, resulting in prolonged irradiation of nucleus Different target ideally suited to be effective for patients previously treated with CD20-based therapies Lutetium-177 ideal radionuclide Beta-emitting radionuclide with half-life (6.7 days) matching the circulation time of the antibody Mean range 0.23mm Payload properties are well suited for treating NHL while limiting unnecessary side effects Multi-cell kill approach Localized tumor cell kill (40-cell radius) from irreparable double strand DNA breaks Cytotoxic effect on poorly perfused or nonantigen expressing cells Expected to deliver better treatment outcomes than anti-cd20 therapies and chemotherapy (single cell kill approach) Lilotomab pre-dosing Prioritises Betalutin binding to CD37 on NHL cells Binds CD37 on B cells and blocks Betalutin binding minimises side effects Enhances attractiveness of CD37 as target for new NHL therapy 5

6 Potential for new CD37-targeting ARCs in FL 3L FL USD 0.6 billion approx. 5,750 (US) + 4,480 (EU-5) patients in L FL $1.5 billion approx. 8,980 (US) + 7,000 (EU-5) patients in L FL USD 1.4 billion approx. 13,700 (US) + 10,670 (EU-5) patients in 2014 Betalutin Single agent Betalutin Combination with rituximab Lu 177 -conjugated chimeric anti-cd37 ARC 2L and 3L segments combined exceed USD 2 billion and are expected to grow 50% in the next 10 years Decision Resources,

7 Tumour response confirms Betalutin s potential as single dose in monotherapy, with a median DOR of 20.7 months ORR = Overall response rate, CR = Complete response, PR = Partial response, SD = Stable disease, PD = Progressive disease Tumour response assessed according to Cheson criteria 2007 n = 35 One patient with a transformed lesion has been excluded from the efficacy analysis of the 15MBq/kg group but included the incidence of DLTs ASH 2016, Poster version of the Abstract 1780, Prof. A. Kolstad et al. 7

8 ORR and CR rates in pts. receiving Betalutin 15MBq/kg and 40mg lilotomab confirm efficacy of currently tested dosing regimen Response rate in all patients receiving 15 MBq/kg and 40 mg lilotomab pre-dosing (n=21) Response rate in Phase 2 patients receiving 15 MBq/kg and 40 mg lilotomab pre-dosing (n=16) Kolstad A et al. abstract 1780, ASH

9 2 nd Line 3 rd Line Betalutin monotherapy offers competitive profile vs. existing and upcoming competitors in R/R FL CR ORR Source Betalutin (Phase 1/2) 29% 63% Kolstad et al, 2016 (35 patients ASH 2016) CTL019 (Phase 2) Ibrutinib (Phase 2) Copanlisib (Phase 2) Idelalisib (Launched) Nivolumab (Phase 1) MOR208 (Phase 2) Duvelisib* (Phase 2) Rituximab (Launched) Ibritumomab tiuxetan (Launched) 3% 6% 8% 10% 11% 15% 23% 30% 29% 40% 41% * Data read-out suggests not very strong results. Infinity is still in touch with FDA to look for future action All agents are approved based on different phase results as mentioned along with asset Results from different trials for comparison purpose only and NOT head to head studies \\AD.JEFCO.COM\BANKING\HEALTHCARE INTL\DEALS\NOR45600IB - TARGET\2. FROM COMPANY\ UPDATED NANO TARGET DECK\NANO - TARGET LC V5 - MHN.PPTX 12/2/16 7:55 PM 46% 48% 54% 64% 73% 74% Novartis, 2015 (11 patients) Bartlett et al, 2014 (40 patients) Dreyling et al, 2014 (33 patients) Gopal et al, 2014 (125 patients) Lesokhin et al, 2016 (10 patients) Jurczak et al, 2016 (45 patients) Infinity Pharma, 2016 (129 patients) McLaughlin et al, 1998 (166 patients) Witzig et al, 2002 (57 patients) 9

10 A higher lilotomab pre-dosing regimen (Arm 4) may positively impact haematologic toxicity Kolstad A et al. abstract 1780, ASH

11 Goal to improve clinical profile further for testing in pivotal PARADIGME trial Phase 1 identified 20 MBq/kg as most efficacious dose yet with DLT Lilotomab pre-dosing crucial for use of higher and potentially more efficacious Betalutin doses Blocks Betalutin binding to CD37 antigen on healthy cells No impact on therapeutic levels of Betalutin absorbed by NHL tumours Now recruiting to test 20 MBq/kg Betalutin and 100 mg/m 2 lilotomab (Arm 4) PARADIGME expected to start in Europe in 2H 2017 Achieving Breakthrough Drug Designation from US FDA crucial to entering accelerated approval process Accelerated approval would enable potential first filing in 1H

12 Betalutin s unique value proposition in FL is based on important differentiating factors New target and combination potential New target (CD37) ideal for patients who progress after rituximab (anti-cd20)-based regimens Potential synergy from combination with anti-cd20 mabs High and durable response* Significantly higher Complete Response than current and future competitors, as a single agent Sustained Duration of Response in heavily pre-treated patients Predictable and manageable toxicity* Convenience for patients and physicians Minimal non-haematological toxicity Predictable, transient and reversible cytopenias Suitable for more elderly and more frail patients, incl. those with co-morbidities One-time therapy: 100% patient compliance and improved convenience vs. oral TKIs No repeat visits to cancer center: improved QoL for patient Optimised healthcare resource utilisation TKI: Tyrosine Kinase Inhibitor *ASH 2016, Poster version of the Abstract 1780, Prof. A. Kolstad et al 12

13 Exploring potential of Betalutin in DLBCL, the most prevalent NHL with the greatest unmet medical need DLBCL USD 4.5 billion* approx. 9,500 patients in the US and 8,170 in EU relapsed to 2L in 2014, 70% of whom are ineligible for stem cell transplant Phase 1 open label, single injection, ascending dose study Investigate various Betalutin doses and lilotomab predosing regimens in up to 24 patients in the US and Europe Objective to identify an optimal dosing regimen for Phase 2 Initial clinical centres activated, patient screening underway *estimate market value by 2024, Decision Resources,

14 Betalutin + rituximab increased survival in a preclinical NHL model* Survival analysis of nude mice with s.c. Daudi xenografts Survival 1,0 0,8 0,6 0,4 0,2 0, Endpoint: tumour diameter 20mm N = 9-10/group 5 x NaCl Time after first treatment injection (days) *ASH 2016, Poster version of the Abstract 1489, Repetto-Llamazares et al. 177 Lu-lilotomab + 4xNaCl 177 Lu-lilotomab + 4 x rituximab 177 Lu-lilotomab + 1 x rituximab NaCl + 4 x rituximab NaCl + 1 x rituximab Betalutin increased binding of rituximab to NHL cells and uptake of rituximab in NHL tumours Stronger anti-tumour effect in combination compared to control groups and each of the treatments alone Median survival time in combination: >222 days (p < 0.05) Survival time with either treatments alone 31 days with rituximab and 60 days with Betalutin 14

15 177 Lu-conjugated chimeric anti-cd37 ARC presents opportunity to target 1L NHL Preclinical studies confirm potential Less immunogenic potential safer repeat dosing in NHL patients Similar internalisation and selectivity to human lymphoid tissues as lilotomab Higher antibody dependent cellular cytotoxicity (ADCC) First GMP batch of chimeric antibody (NNV003) completed at contract manufacturer in USA Divisional Betalutin patent application has been granted in Europe and USA First clinical trials expected to begin in 2017 Preclinical data EANM 2016, Poster version of the Abstract, J. Dahle et al 15

16 177 Lu-conjugated chimeric anti-cd37 ARC is the base of research collaborations to develop new targeted therapies for leukemias ARCs Develop new ARCs optimised for treating leukaemias, e.g. CLL, AML >50,000 patients relapse every year worldwide Market estimated to grow to USD 5 billion by 2020 Supported by grant funding from the Research Council of Norway ADCs Early stage R&D collaborations to develop new ADCs optimised for treating leukaemias Leveraging CD37 targeting and biologics expertise of Nordic Nanovector and complementary technologies of partners CLL: chronic lymphocytic leukaemia, AML: acute myeloid leukaemia; ADCs- antibody drug conjugates 16

17 Solid cash position, further strengthened by share issue in December Private placement completed on December 7 th 2016 Gross proceeds NOK 499 million Intention for use of proceeds: Fund Phase 2 combination study with Rituximab Fund Phase 1 study and GMP manufacturing for 177Lu-conjugated chimeric antibody Develop new proprietary antibody production technology Accelerate pipeline of pre-clinical assets to clinical trials Prepare for commercial launch of Betalutin General corporate purposes * USD/NOK 8.06 Cash flow as of 30 September

18 Key development milestones through 2019 Dose-regimen selection for PARADIGME 1H 2017 First patient treated in PARADIGME study 2H 2017 Betalutin in FL Clinical study of Betalutin /rituximab combo in 2L FL (start/prelim. read out) 2H 2017/2H 2018 Clinical study of chimeric ARC in 1L FL (start/prelim. read out) 2H 2017/2H 2019 Preliminary read out of PARADIGME study 2H 2018 First filing for Betalutin in 3L FL 1H 2019 DLBCL Pipeline Preliminary read out of DLBCL Phase 1 study 2H 2018 New preclinical programmes in other B-cell malignancies (leukaemias/mm) \\AD.JEFCO.COM\BANKING\HEALTHCARE INTL\DEALS\NOR45600IB - TARGET\2. FROM COMPANY\ UPDATED NANO TARGET DECK\NANO - TARGET LC V5 - MHN.PPTX 12/2/16 7:55 PM 18

19 Nordic Nanovector investment proposition Market Leading product Evidence Pipeline Strategy Team *Technavio 2014, Global NHL Therapeutics Market Substantial unmet medical need and orphan drug opportunities, a growing NHL market worth over USD 12 billion* First in a new class of Antibody-Radionuclide-Conjugates, designed to deliver better treatment outcomes for NHL patients with a single dose Promising clinical data from Phase 1/2 study indicates the potential for a competitive target product profile Novel targeted therapies with potential to capture further value in NHL and in other B-cell malignancies Well thought-out clinical strategy - unencumbered asset with all options open to maximise shareholder value Management team with extensive industry experience in both development and commercialisation of anticancer drugs 19

20 Nordic Nanovector ASA Kjelsåsveien 168 B, 0884 Oslo, Norway IR contact: