Full Press Release Details
Introductory Corporate Presentation
Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Immuno-Oncology: A cancer treatment Revolution
programs: An important part of the Revolution
Beneficiaries: Patients...and our shareholders
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
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; Deutsche B rse:YP1B.DE). These slides have
been prepared as a presentation aid only and the information they contain may require further explanation and/or clarification. Accordingly, these slides and the information they contain should be read in conjunction with past and future
announcements made by Prima BioMed and should not be relied upon as an independent source of information. Please refer to the Company s website and/or the Company s filings to the ASX and SEC for further information.
The views expressed in this presentation contain information derived from publicly available sources that have not been independently verified. No representation or warranty is
made as to the accuracy, completeness or reliability of the information. Any forward looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans,
expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside Prima BioMed s control. Important factors that could cause actual results to differ materially from assumptions or
expectations expressed or implied in this presentation include known and unknown risks. Because actual results could differ materially to assumptions made and Prima BioMed s current intentions, plans, expectations and beliefs about the future,
you are urged to view all forward looking statements contained in this presentation with caution. This presentation should not be relied on as a recommendation or forecast by Prima BioMed. Nothing in this presentation should be construed as either
an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and
Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
Prima BioMed is changing
- Between 2001 and 2014 we developed a cancer vaccine called CVacTM, which generated favourable clinical data in second-remission ovarian cancer in late 2013
- In late 2014 we acquired Paris-based Immutep (Dec. 2014), focused on the immune checkpoint receptor LAG-3
- In 2015 we will concentrate on the LAG-3 related development and aim to partner CVac without additional clinical trials
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR 4
cancer drug development company focused mainly on immuno-oncology, arguably the hottest area of oncology today
- A global company with talent in Europe, the US,
- A company with a dominant position in what we think is the next big immuno-oncology target, LAG-3, putting us on track to develop a future
- The Immutep portfolio has multiple partnerships including with GSK and Novartis
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
In this presentation
Recent history Our volatile share price Slide 7
ceasing clinical development of CVac Slide 11 Going forward Slide 18 The Immuno-Oncology Revolution Slide 21 The Revolution is creating blockbusters Slide 25 PRR s LAG-3 programs Slide 30 Our response to
market issues Slide 39 Five reasons to invest Slide 43
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts
(Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
VOLATILE SHARE PRICE
Cast thy bread upon the waters: for thou shalt find it after many days.
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and
Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
Dendreon falls out of favour
top-line because of concerns about Progression-Free cost effectiveness and $0.20 Survival data from ASX reimbursement for CVac s Phase II Provenge on (Sep. 13) PRR
for $0.15 price share $0.10 AUD Prima does Nasdaq IPO (Apr 12) -
Xtandi (Medivation /
Astellas) gains FDA approval, $0.05 CVac is often compared to hampering Provenge s market in prostate cancer Dendreon s Provenge cellular (Aug. 12) therapy
APR-12 May-12 Jun-12 Jule-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13
Jun-13 Jule13 Aug-13 Sep-13
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
2. What then went right?
$0.065 (Oct. 13 Sep. 14)
Pete Meyers, ex Deutsche CVac PFS
for 2nd remission: Acquisition of $0.060 Bank, joins board Massive 12.9 months vs 4.9 (Feb. 14) months survival for controls Immutep
(Jun. 14) ASX $0.055 transformational
on deal (Announced Oct. 14) PRR $0.050 for
price $0.045 share $0.040
First regulatory approval for AUD Phase II 2nd remission trial,
$0.035 CAN-004B (Jan. 14)
CVac s Phase II 2nd remission
$0.030 Secondary analysis showed CVac PFS advantage in 2nd (Apr. 14) remission patients (Nov. 13)
Oct-13 Jan-14 Apr-14 Jul-14
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
3. Why market didn t like us late
last year (Oct. 14 Feb. 15)
- Oct. 2014: Concerns over Bergen funding, but
necessary for Immutep transaction - Concerns over cash reduction from Immutep acquisition - Lack of familiarity with Immutep programs - Nov. 2014: Dendreon Chapter 11 - Concerns re NASDAQ Notice of Bid Price Deficiency - Difficult small/micro cap
environment - Low visibility in the US
- Lack of institutional investor presence on register
AUD share price for PRR on ASX
$0.05 $ $ 0.10 $ 0.15 0.20 $ 0.25 $0.00
Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Nasdaq: PBMD, ASX:PRR
WHY WE ARE CEASING CLINICAL DEVELOPMENT OF CVac
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
1a. We have been reviewing CVac since October
- Our general priority for CVac in late 2014: Active management of clinical development program to ensure best potential clinical benefit and optimal capital allocation
- We indicated intent to: review the CAN-004A trial in the light of the CAN-003 results, the Immutep acquisition and the clinical development priorities of
IMP321, CAN-004B and CAN-301 *
* See AGM presentation, 14 Nov. 2014, slide 17
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
1b. On the plus side Our basic CVac thesis seems correct
CVac has shown >10 month interim overall survival advantage in second remission patients
36 34 32 30 28 26 24
Survival Overall Months
- Thesis: Mannan+MUC1* will generate tumour-destroying immune response in ovarian cancer
- Evidence to date: Nov. 2014, CAN-003 study showed interim overall survival advantage for second remission patients, trending towards significance (n=20,
treatment 36 months, median not reached, control median 25.5 months, p=0.07)
- To come: CAN-003 final Overall Survival likely in mid-2015
* Mannan is a sugar taken up by Antigen Presenting Cells, the orchestrators of the immune system. MUC1 is a protein overexpressed on many cancer cells.
27 February 2015 Introductory Corporate Presentation Marc Voigt (CEO) and Stuart Roberts (Global Head of IR) www.primabiomed.com.au
Despite the promising nature of CVac, and cancer vaccines generally, their clinical development is much more complex and costly than drugs like Yervoy and Keytruda .
- As a small biotech company we have to focus our attention and investment on the lower cost, higher potential opportunities, which have the best chance of creating blockbusters
- For Prima in 2015, the lower cost, higher potential opportunities lie in LAG-3
- As a consequence we are ceasing recruitment into CVac s CAN-
004B study with second