Corporate Overview. June 2017

Transcription

1 Corporate Overview June 2017

2 Safe Harbor Statement These slides and accompanying oral presentation contain forward-looking statements. All statements, other than statements of historical fact, included in these slides and accompanying oral presentation are forward-looking statements. Forward-looking statements include, but are not limited to, statements about: the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our ability to advance product candidates into, and successfully complete, clinical trials; the tolerability of our product candidates at efficacious doses; our collaborators exercise of their license options; the commercialization of our product candidates; the implementation of our business model, strategic plans for our business, product candidates and technology; the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and technology; estimates of our expenses, future revenues, capital requirements and our needs for additional financing; the timing or likelihood of regulatory filings and approvals; our ability to maintain and establish collaborations; our financial performance; and developments relating to our competitors and our industry. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the preclinical and clinical development process; the risks and uncertainties of the regulatory approval process; our dependence on our collaboration partners, including Celgene, for the funding of our partnered programs; our ability to raise additional capital to support the development of our unpartnered programs; our dependence on the development and marketing efforts of our partners for the commercial success of our partnered product candidates; our reliance on third parties to conduct certain preclinical studies and all of our clinical trials; our reliance on single source third-party contract manufacturing organizations to manufacture and supply our product candidates; our ability to validate, develop and obtain regulatory approval for companion diagnostics; our ability to achieve market acceptance and commercial success of our product candidates once regulatory approval is achieved; our ability to discover, develop and commercialize additional product candidates; the ability of competitors to discover, develop or commercialize competing products more quickly or more successfully; our dependence on our Chairman and Chief Executive Officer and other key executives; risk of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate our patents or proprietary rights; and the ability of our proprietary rights to protect our technologies and product candidates. Other factors that may cause actual results to differ materially from current expectations include, among other things, those listed under Risk Factors or otherwise described in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on March 9, 2017, our Quarterly Report on Form 10-Q filed with the SEC on May 8, 2017, and our other current and periodic reports filed from time to time with the SEC. Any forward-looking statement you see or hear during this presentation reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, industry and future growth. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. 2

3 OncoMed Pharmaceuticals Innovative Platform Diverse Pipeline Financial Strength & Value Creation Fundamental cancer biology focused on I/O Human Tumor Bank, and Humanized Mice model platforms for I/O Antibody expertise: MabTrap display, bispecifc and trimer ligand technologies Navicixizumab (anti- DLL4/VEGF) & Rosmantuzumab (anti- RSPO3) on-going Phase 1b Anti-TIGIT on-going Phase 1a GITRL-Fc Phase 1a Initiation by 2H17 Active I/O discovery: future INDs $156M cash position funds company through 3Q 2019 Celgene Partnership: ~$98M in potential opt-in payments within next 2 years Co-Dev. / Co-Com. of DLL4/VEGF and RSPO3 programs TIGIT Ph1b to be conducted by Celgene Potential Wnt-I/O partnerships 3

4 Systematic Approach to Target Key Biological Pathways Elucidate key pathway interactions Conduct comprehensive in vivo screening Identify biomarkers Immuno-oncology TIGIT, GITR others Wnt, RSPO Notch Sources: Takebe, et al; Nature Reviews Clinical Oncology Melo, et al; Cancers Smyth, et al; Nature Reviews Clinical Oncology

5 Pipeline Therapeutic Preclinical Phase 1 Phase 2 navicixizumab (bispecific) rosmantuzumab (Anti-RSPO3) Anti-TIGIT GITRL-Fc trimer I/O Research Therapeutic Preclinical Phase 1 Phase 2 vantictumab ipafricept Potential future development in I/O combinations 5

6 Celgene Partnership Provides Funding and Value Program Opt-in payment Remaining potential milestones Opt-in Stage Commercial rights Nav icix izum ab $25M $505M Rosm antuzum ab $38M $440M Phase 1 WW co-dev elopment 1 /3 OMED 2 /3 CELG cost split US co-commercialization pr ofit split Ex-U.S. roy alties anti-t IGIT $35M $440M Celgene WW license Celgene started work on Ph1b "at risk" Pr epa r in g for sea m less tr a n sition Strong, collaborative relationship Celgene is a significant shareholder (~8%) *Worldwide license (no co-co rights) 6

7 Key Economics By Program Partner Program Opt-in payment Remaining potential milestones Commercial rights GIT RL-Fc trim er Vantictum ab OncoMed owned Ipafricept Nav icixizum ab $25M $505M Rosm antuzum ab $38M $440M anti-t IGIT $35M $440M 50/50 US Mid-single to mid-teens roy alties ex- US 50/50 US Mid-single to mid-teens roy alties ex- US High single-digit to high teens roy alties WW Sm all Molecules n/a $100M+ each Single-digit roy alties WW 7

8 Navicixizumab (anti-dll4/vegf) Bispecific mab Advancing in Phase 1b Mechanism Dual anti-angiogenic effect; anti-csc, I/O activity Simultaneous DLL4 and VEGF blockade synergistically inhibits tumor growth, delays tumor recurrence, and reduces cancer stem cell frequency Program Status Phase 1b chemo combination trials in ovarian & colorectal cancers ongoing Interim Phase 1a data (N=51) demonstrated single-agent activity, with continuous dosing generally well tolerated 8

9 % Change in Tumor Volume Navicixizumab (anti-dll4/vegf) Initial Evidence of Clinical Activity Phase 1a Data: Ovarian Cancer Patients (interim results as of October 2016) % Change in RECIST Target Lesion Size Duration on Study Doses are mg/kg outlined bar = prior bevacizumab Single-agent activity in heavily pre-treated patients EORTC-NCI-ACCR Symposium

10 Rosmantuzumab (Anti-RSPO3) Biomarker Driven Hypothesis Mechanism Study Design R-spondin (RSPO) ligands signal through the LGR receptor family RSPO3+ RSPO is a key potentiator of beta catenin Program Status Biomarker-selected ( RSPO 3 fusion) Phase 1a expansion cohort and Phase 1b FOLFIRI combination trial in colorectal cancer or gastric cancer currently enrolling Safety established in Phase 1a, well tolerated, no MTD reached 10

11 Rosmantuzumab (Anti-RSPO3) Early Clinical Data Time on Study 11

12 Anti-TIGIT First Immuno-Oncology IND Mechanism TIGIT blocks T-cells from attacking tumor cells Anti-TIGIT Preclinical Activity Control Anti-TIGIT Similar to PD1 in both structure and function Program Status Preclinical single-agent & combination anti-tumor activity observed Phase 1a FPI May 2017 Partnered with Celgene Celgene planning to conduct basket trial including potential combo with Anti- PD1 RENCA (RCC) Tumor Model 12

13 Anti-TIGIT OMP-313M32 Phase 1a Dose Escalation * 1 st patient to receive 0.03, 0.1, then 0.3. After 5 days, 2 nd patient dosed at

14 GITRL-Fc Trimer Differentiated Approach to TNFR Superfamily Approach Problem: Agonist mabs are poorly suited for trimeric TNF receptors GITRL-Fc Trimer Impact on Tumor Volume OMED Solution: Fully human single-gene ligand trimer-fc Also amenable to bispecific formats Program Status FPI 2H17 OMED WW rights 14

15 OncoMed s I/O Research Strategy Approach Leverage proprietary mab/protein expertise Focus on the most important challenges in I/O space Validate with rigorous animal models Advance programs rapidly to development Immune Activation (e.g., GITR) MDSC & Myeloid Suppression Therapeutic Opportunities Novel Checkpoint Agents (e.g., TIGIT) Getting Leukocytes into Tumors 15

16 Financial Strength Current Position $156.9M at end of 1Q17 Cash through 3Q19 before any potential milestones/opt-ins ~37m Shares Outstanding Long-Term Outlook ~$98 million potential Celgene partner milestones/opt-ins in next 2 years ~$1.5B+ in potential milestones from current partnerships Substantial downstream royalties and profit-sharing Exploring additional strategic partnerships to drive value 16

17 Upcoming Milestones Pipeline 1H17 Phase 1 Initiation - anti-tigit 2H17 Phase 1 Initiation - GITRL-Fc Trimer FY18 Opt-in Decisions end of Phase 1b - navicixizumab and rosmantuzumab (Celgene) IND Filing Additional I/O candidate 17

18 Thank you Click to edit master subtitle style