Slides
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MALIN Malin Company Overview Presentation Q3 2019
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1 Malin at a glance
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2 Malin at a glance Vision To deliver significant returns for our shareholders & transformative outcomes for patients by investing in highly innovative life sciences companies Immediate focus To translate progress within our investee companies into shareholder value Assets 4 Priority Assets 6 Growth Potential Assets 3 revenue generative assets 2 early-stage assets 1 public asset Notable milestones & potential value creation catalysts within 2 years Future investment focus Investing in innovative life science & healthcare technologies with potential to reach near-term significant value inflection or realisation points Delivery of transformative outcomes for patients Therapeutic areas of focus: oncology, immunology & genetic diseases
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3 Financial update & overview of near-term value catalysts
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4 FY 2018 Financial Highlights Financial Highlights at 31 December 2018: IPEV fair value of assets was €404 million Cash of €43 million (current cash of €31 million) European Investment Bank debt of €55 million
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5 Fair value of Investee Companies €298 million IPEV fair value Priority Assets IPEV fair value breakdown IPEV guidelines are recognised as best practice in the valuation of private companies €404 million €106 million IPEV fair value Growth Potential Assets Malin equity % = 15% Malin equity % = 8% Malin equity % = 25%*Malin equity % = 10% 3 Revenue Generative companies 24% of total IPEV fair value Growth Potential Assets 2 Early-stage companies 2% of total IPEV fair value Public asset equities <1% of total IPEV fair value All other assets have been written off Legacy Assets 19% 27% 21% 7% *Following Poseida’s $142 million financing round completed in April 2019
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6 What’s in a Share? Intrinsic Equity Value Share Price €8.57 €1.71 €0.63 €2.33€1.85 Growth Potential Assets €2.32 Malin’s share price at 31 December 2018 of €5.00 per share traded at a discount to management’s estimate of intrinsic equity value €8.57 per Malin share Intrinsic Equity Value is arrived at through our estimate of the fair value of our investee companies in accordance with IPEV guidelines adjusted for net debt Net Debt* (€0.27) Net Debt* (€0.27) Growth Potential Assets €2.32 Priority Assets €6.52 Management has committed to return capital realised from its assets to shareholders
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7 Malin Strategy 24 - 36 months Asset progression & realisations Assets: • Public shares • Cash • Royalty streams • Contingent / deferred cash consideration • Modest private asset interests Strategic options: • Maintain flexibility around all long-term options • Participation in new investment activity Malin looking forward Cash distributions to shareholders Malin plc €’m Private Assets 401* Public Assets 3* Cash 31 *As at 31 December 2018 Malin Today
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8 Strong Clinical and Commercial Progress in Priority Assets in the past year Progressed Ph.1 study of lead CAR-T program, P-BCMA-101, reporting positive data, having received RMAT & orphan drug designation from US FDA Advanced late-stage pre- clinical development of other candidates Closed a $142m financing round, led by a $75m equity investment from Novartis Progressed pivotal trial of lead candidate, IMCgp100 Completed co-dev / co-promo deal with Genentech for MAGE-A4 target ($100m upfront) Filed IND for MAGE-A4 target & dosed 1 st patient in GSK- partnered, NYEso, trial Appointed Bahija Jallal as CEO, David Berman as Head of R&D & Dr Mohammed Dar as CMO Positive data from Ph.1 study of lead, KY1005 anti-OX40L, & initiated Ph.2a study Filed IND for KY1044 anti- ICOS candidate Appointed Simon Sturge as CEO Filed confidential Form F-1 with US SEC relating to proposed IPO Entered strategic partnership with LifeArc Continued to expand & advance discovery & preclinical antibody pipeline Completed structured sale of lead asset, VT-1161, to NovaQuest. Potential of significant & recurring cash flows from milestones & sales royalties
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9 Key Catalysts for Investee Companies within the next year Poseida Progress potential registrational Ph.2 clinical trial for P-BCMA-101 towards potential BLA filing File IND for prostate cancer target (P-PSMA-101) and begin Ph.1 trial File IND for multiple solid tumour indication (P-MUC1C- 101) File IND for allogeneic product candidate (P-BCMA-ALLO1) Immunocore Progression of pivotal trial for IMCgp100 in metastatic uveal melanoma Potential to file BLA for IMCgp100 Dose 1 st patient in Ph.1 trial for MAGE-A4 target (Genentech collaboration) Additional IND filings Additional partnerships Kymab Complete proposed IPO Ph.2a data in anti-OX40L atopic dermatitis indication (KY1005) Expand KY1005 into other anti- inflammatory indications (acute Graft v Host Disease) Ph.1/2 data in anti-ICOS agonist (advanced solid tumours) indication (KY1044) Other Assets Viamet: Antifungal interest (VT- 1161) to advance through Ph.3 trials (funded by NovaQuest) Novan: Ph.3 data in molluscum indication (SB206) Altan: Potential US approval of IV paracetamol product Xenex: FDA approval of robot device 3D4Medical: Continued strategic interest
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10 Growth Potential Assets Revenue generative assets with potential near-term value inflection events: Malin equity % = 38% Strong revenue growth Malin equity % = 11% US FDA 510(k) application Malin equity % = 65% US paracetamol opportunity Early-stage assets with innovative early-stage platform potential Public equity Malin equity % = 10% Ph.3 molluscum program data Malin equity % = 14% Drug discovery Malin equity % = 25% Drug discovery
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11 Outlook Several assets with important milestones in the year ahead, which have the potential to create significant value for shareholders Focus on delivery of this value and committed to returning capital to shareholders Efficient business structure with additional expertise within future investment focus area Cash operating expenses at a run- rate of <1.5% of asset fair value
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12 Priority Asset profiles
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13 Poseida Therapeutics
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14 Technology: Best-in-class CAR-T and gene editing Company overview Developing cell & gene therapies for multiple cancers and genetic diseases using best-in-class technology Lead indication is CAR-T therapy for multiple myeloma Ph.1 clinical trial data positive, targeting a potential registrational Ph.2 trial moving towards a potential BLA by end of 2020 Strong pipeline of autologous and allogeneic CAR-Ts, and gene therapy/editing Next oncology indication is a solid tumor (prostate) First gene therapy indication is beta-thalassemia Closed a $142m financing round in April 2019, led by a $75m investment from Novartis Pharma AG Best-in-class technology Next generation gene insertion, gene editing, gene delivery and CAR-T technology platforms Core technology is non-viral piggyBac™ transposon system for gene insertion Complementary technologies: CAS-CLOVER gene editing Site-specific nucleases that cut DNA with very low off-target activity CART-T elements Stable and specific Centyrin binders plus safety switch and selection elements Management & scientific team Mark Gergen, J.D. Chief Business Officer Former COO/CFO at 3 prior companies during listing process Eric Ostertag, M.D., Ph.D. Chief Executive Officer Founder & Former CEO of Transposagen, Vindico NanoBiotechnology & PhenoTech Devon Shedlock, Ph.D. VP Preclinical Development Former Associate Director of the T-Cell Engineering Lab in Carl June’s group at UPenn Julian Down, Ph.D. Director of Gene Therapy Early team member and former Senior Director of Research at Bluebird Bio Sustainable business construct Platform protected through 2030 and beyond More than 50 issued and pending patents Worldwide exclusive coverage of piggyBac™ technology Patents covering Super piggyBac™ to 2030 & beyond Patents covering Cas-CLOVER™ to 2032 & beyond Well-positioned for long-term commercial success Proven senior leadership team with a track record of success, supported by strong investor base
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15 CAR-T Platform: Highly favourable Stem Cell Memory Phenotype (TSCM) …which provides a superior profile TSCM phenotype most favourable for product persistence and depth of response piggyBacTM manufacturing process consistently yields ~70-80% TSCM Lentivirus process typically yields 0-20% TSCM Process yields high fraction of T scm phenotype… CD45RA+ CD62L+ CD45RO+ CD62L+ CD45RO+ CD62L- CD45RA+ CD62L- TSCM (Stem cell memory) TCM (Central memory) TEM (Effector memory) TEFF (Effector)
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16 CAR-T Strategy: Efficacy, safety and scalability Efficacy Durable responses Poseida’s therapies are composed primarily of long-living early memory T cells, or TSCM cells, which provide a more persistent killing of tumor cells and may potentially re-respond to a future relapse. Poseida’s science enables better CAR-T therapies that will set new standards across 3 pillars of excellence Safety Low or no cytokine storm An early memory CAR-T product is a more gradual killer of tumor cells and demonstrates a significantly greater therapeutic index than other CAR-T products. Scalability Efficient manufacturing Poseida’s non-viral gene insertion technology results in lower-cost autologous products. Ability to treat solid tumors Self-renewing TSCM cells can produce a potentially unlimited number of TEFF cells, resulting in multiple waves of responses necessary to penetrate solid tumors. Pure product Positive selection during manufacturing results in essentially 100% CAR-positive cells, eliminating one of the potential sources of toxicity. Allogeneic therapies Using proprietary Cas-CLOVER gene editing, Poseida is able to create off- the-shelf products from a universal donor. This allows Poseida to produce therapies at scale and create therapies that can be administered to patients more conveniently.
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17 Tumor burdens were reduced in P-BCMA-101-treated mice out to >90 days Standard tumor model (p53 WT) Aggressive tumor model (p53 KO) Source: Data presented at ASGCT 2017 Annual Meeting (Hermanson et al.) Note: Tumor challenge means MM.1S injection; treatment means CAR-T injection Control of aggressive tumor model Relapse and control P-BCMA-101: Best-in-class pre-clinical data from MD Anderson
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18 P-BCMA-101: Multiple myeloma program Population c.100K patients in US c.30K new cases per year 12,650 patient deaths/year $9.7B Revlimid 2018 sales Target BCMA seen in BM from all symptomatic multiple myeloma patients BCMA specific to plasma cells Supports tumor survival and growth so antigen escape unlikely Status of Phase 1 Trial Trial design: up to 6 dose levels to be tested in 40 patients First patient dosed: December 2017 Data to 31 January 2019: 26 patients treated in 5 dose groups Data to date: Extremely good safety profile with deep and durable responses
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19 P-BCMA-101: Adverse events Treatment-Emergent Adverse Events TEAE, n (%) Overall ≥Grade 3 Dose Limiting Toxicity(DLT)a 0 0 Cytokine Release Syndromea 5 (19.2%) 0 Neurotoxicitya Grade 2 CRES with Grade 3 confusion (1 pt) 1 (3.8%) 1 (3.8%) Neutropenia/Neutrophil count decreasedb 17 (65.4%) 16 (61.5%) Thrombocytopenia/Platelet count decreasedb 11 (42.3%) 8 (30.8%) Anemia 11 (42.3%) 9 (34.6%) Infectionc Overall 9 (34.6%) 4 (15.4%) First month 6 (23.1%) 2 (7.7%) Data cutoff: 31 January 2019 aby investigatorassessment CRES based on confusion reported in patient with baseline mental status decrement not including orthostatic dizziness or peripheral neuropathy/tremor bsubject counted once for either term cincludes events in the SOC Infections and Infestations. Subject counted once for any PT within the SOC. Cytokine Release Syndrome Parameters Parameter Dosed Patients (n = 26) Patients with a CRS event, n 5 (19.2%) Maximum CRS grade None 21 (80.8%) 1 3 (11.5%) 2 2 (7.7%) Median time to onset, d 8 Median duration, d 4 Data cutoff: 31 January 2019 5 cases of CRS reported (19.2%). In each case, the CRS was mild and transient, and no patients were treated with an IL-6 inhibitor or steroids, which are standard therapies for CRS.
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20 P-BCMA-101: Tumor response by dose cohort Tumor response in evaluable patients by dose Data cutoff: 31 January 2019, 23 patients were evaluable for response by International Myeloma Working Group (IMWG) criteria. ORR attaining sCR (inc. MRD-), CR, VGPR, or PR, including confirmed and unconfirmed responses. Patient 105-002 PET (dose cohort 1) 10 20 30 40 50 60 70 80 90 100 Objective Response Rate, % ORR = 50% 0 152 x 106 (n=7) 459 x 10 6 (n=8) 6 (n=3) Mean Dose Median follow -up (min, max), d 241 (191, 297) 143 (17, 190) 122 (122, 129) ORR = 100% Jan 26th, 2018 (4 weeks post-P- BCMA-101) Dec 18th, 2017 (post DT-PACE, pre-P- BCMA-101) Catheter / injection site(FDG) Catheter / injection site(FDG) 0.75 x 106 cells/kg (50 x 106 cells) Oligosecretory disease, M-protein, SPEP, UPEP, FLC not measurable/within normal limits. 857 x 1052 x 106 (n=2) 302 (259, 345) MR = 25% PR VGPR+sCRMR ORR = 71% ORR = 50% ORR = 67% 6 (n=3) 64 (44, 66) 1194 x 10 ORR = objective response rate MR = minor response PR = partial response VGPR = very good partial response CR = complete response sCR = stringent complete response
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21 Multiple products rapidly moving towards clinic Candidate Indication Focus Area Discovery Preclinical IND-Enabling Clinical Phase 1 Anticipated next milestone P-BCMA-101* Multiple Myeloma Autologous CAR-T Therapy Data update potential registrational trial 2H 2019 P-PSMA-101 Prostate Cancer Autologous CAR-T Therapy File IND 2H 2019 P-BCMA-ALLO1 Multiple Myeloma Allogeneic CAR-T Therapy File IND late 2019 or early 2020 P-MUC1C-101 Ovarian, breast, pancreatic, lung & colorectal cancers Autologous CAR-T Therapy File IND 2020 P-HBB-101 Sickle Cell disease Ex vivo Gene Therapy *Phase 3 may not be necessary if Phase 2 can serve as a registrational clinical trial.
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22 Recent newsflow: CAR-T & gene engineering August 2017 FDA approves first ever CAR-T product – Novartis’ Kymriah Gilead acquires Kite for c. $12bn October 2017 FDA approves second CAR-T product – Kite’s Axi-cel December 2017 J&J agree to pay $350m upfront to license Legend’s anti-BCMA CAR-T Gilead acquires Cell Design Labs for up to $567m FDA approves first gene therapy – Spark’s Luxturna January 2018 Celgene acquires Juno for c. $9bn April 2018 Novartis acquires AveXis for c. $9bn June 2018 Autolus IPO raises c. $150m @ c. $510m pre-money valuation, current mkt cap $730mn October 2018 Allogene IPO raises c. $320m @ c. $1,750m pre-money valuation, current mkt cap $3.2bn February 2019 Roche agrees to acquire Spark Therapeutics for $4.8bn Significant further validation and value creation in gene engineering space since Malin’s initial investment in Poseida Source: NASDAQ, company press releases
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23 Summary Best-in-class gene engineering & CAR-T platforms with >50 issued and pending patents Potential to address enormous range of diseases with multiple treatment modalities Competitive advantages in efficacy, safety, speed to clinic and cost Lead candidate, P-BCMA-101 enrolling for a potential registrational Ph.2 trial & potential biologics license application in 2020 Pipeline includes solid tumor indications, allogeneic CAR-T products, and a gene therapy
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24 Immunocore
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25 Immunocore: Company overview Major shareholdersCompany overview Headquartered in Oxfordshire, UK and Philadelphia, US • 500 employees • Malin led $320M Series A financing round in 2015 Novel technology platform applicable in oncology, autoimmune and infectious disease indications • Lead IMCgp100 is in pivotal trial for uveal melanoma and combination trial for cutaneous melanoma • INDs filed for 2 partnered programmes (Genentech & GSK) and expected to complete Phase 1/2 dose-ranging in 2019 • Promising preclinical data in autoimmune and infectious disease Recent management changes Appointed: Bahija Jallal, CEO & Director Former President & head of global biologics R&D unit, MedImmune, at AstraZeneca Appointed: David Berman, Head of R&D Former Senior Vice President & head of immuno-oncology at AstraZeneca & former senior executive at Bristol-Myers Squibb Appointed: Dr Mohammed Dar, Head of Clinical Development & Chief Medical Officer Former Vice President, clinical development oncology, R&D at MedImmune (AZ) & spent 10 years at GSK in various roles Family holdings Novel technology platform • Unique & proprietary platform • Off-the-shelf drug with disruptive COGS • Mix of orphan and major indications • Strong proof of concept clinical data
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26 Current Status: Substantial progress in last 2 years Progress in oncology Overall survival in uveal • ~74% at 12 months in 2 trials • SOC only ~40% (includes I-O) Pivotal trial in uveal initiated • Randomized vs invest. choice • Potential for 2L approval faster Dose expansion in combo • Initial responses in durva doublet and durva/treme triplet arms Promising pipeline after lead • Next ImmTACs will target lung, head & neck, ovarian & breast Progress in ID / AID Gates infectious disease deal • $40M convertible note • Focus on HIV and TB programs • Validation from leading non-profit & ongoing support will be crucial • ID business also targeting Hepatitis B Autoimmune work ongoing • Early data showing proof of concept in autoimmune cell models • Initial indications targeted could include type 1 diabetes & atopic dermatitis • Partnership discussions Value unlock path Augment executive team following new CEO appointment Additional ImmTAC IND 2 new first-in-human trials Execute financing strategy Launch IMCgp100 Potential Phase 2 / pivotal studies initiated for other programmes Breadth of platform sets up catalysts over the next 12 months 2H19 2H19 2020 2020 Potential BLA submission (uveal) Additional partnered INDs
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27 mUM: Compelling “proof-of-concept” indication Metastatic uveal melanoma is compelling “proof-of-concept” indication for Immunocore • No approved therapies: None have shown survival benefit in clinical trials • High rate of metastasis: Up to 50% develop metastases within median 2.4 yrs1 • Poor overall survival: ~40% 12-month overall survival rate post metastasis2 • Best-in-class data: Two trials (N=16 and N=19) showed median PFS in 4-6-month range and best-in-class overall survival data (~74% 12-month overall survival rate) • Competition: Limited success to date with chemotherapy, targeted therapy or checkpoint inhibitors High unmet need Strong clinical data 1Nabil, et al (BJC, 2015), 2Khoja, et al (ASCO, 2016) Notes: DCR = Disease control rate; PR = partial response; SD = stable disease Fast track designation • Fast Track Designation: Granted by US FDA in Apr-19 for investigation of IMCgp100 for treatment of patients who are HLA- A*0201-positive with previously untreated mUM
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28 Oncology pipeline: Proprietary & partnered assets ImmTAC generation IND enabling Phase 1/2 Pivotal Indication Collaborator IMCgp100 Uveal melanoma IMCgp100 / CPIs combination Cutaneous melanoma GSK1 (IMCnyeso) Synovial / bladder / melanoma / NSCLC IMC-C103C (MAGE A4) NSCLC, Others IMC-F106C NSCLC, Others Undisclosed (oncology) Liver, NSCLC, Others Undisclosed (oncology) Various Undisclosed (infectious) Various Undisclosed (autoimmune) Various Note: CPIs = checkpoint inhibitors; NSCLC = non-small-cell lung carcinoma Immunocore oncology pipeline
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29 Kymab
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30 Kymab: Company overview Major shareholdersCompany overview Cambridge (UK) based clinical-stage biopharmaceutical company developing a deep pipeline of novel human antibody-based therapies Founded by Prof. Allan Bradley in 2010, based on development in his laboratory at the Wellcome Trust Sanger Institute, Cambridge UK Building a rich pipeline of assets across immuno-oncology, haematology, auto-immune and infectious disease Management Team & Chair Simon Sturge, Chief Executive Officer Former EVP at Merck KGaA; Boehringer Ingelheim Arndt Schottelius, M.D., Ph.D, EVP R&D Former CDO of Morphosys; Genentech; Schering Prof Allan Bradley, Ph.D, FRS, Chief Scientific Officer Founder, Former Emeritus Director of the Sanger Institute Sonia Quaratino, M.D., Ph.D, Chief Medical Officer Former Global Oncology Clinical Program Leader at Novartis Martin Nicklasson, Ph.D, Non-Executive Chair Former CEO of Swedish Orphan Biovitrum; AstraZeneca The pioneering IntelliSelect® Technology • Consists of several mouse strains that are genetically engineered with extensive and complex modifications • Designed to produce fully human antibodies • Combines single-cell sequencing, genomics and proprietary bioinformatic algorithms to prioritise and select antibodies that have the most desirable drug-like properties • Reduces the risk of missing novel solutions and increases the quality and differentiation of antibodies
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31 Pipeline: Broad pipeline of therapeutic assets Programme Indication Preclinical Phase 1 Phase 2 OX40L Atopic Dermatitis OX40L Acute Graft-vs-Host Disease OX40L Other Immune Disorders ICOS Solid Tumors ICOS + anti-PD-L1 Solid Tumors Anti-PD-L1- immunogytokine Solid Tumors Factor VIII-mimetic Haemophilia A CXCR-4 Solid Tumors KY1005 KY1005 KY1044 KY1044 KY1005 KY1043 KY1051 KY1049
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32 KY1005: Anti-OX40L in auto-immune diseases KY1005 – “Pipeline in a single antibody" Preclinical POC Clinical development Phase 2a clinical trial for treatment of Atopic Dermatitis Preliminary results in H1 2020 • Ph.1 in HV demonstrated ability to block T cell driven skin inflammation while being well tolerated • Human monoclonal antibody that targets OX40L, a key regulator of the immune system • Designed to rebalance the immune system by blocking inappropriate activation and proliferation of ‘pro- inflammatory’ effector T cells & promoting expansion of ‘anti-inflammatory’ regulatory T cells, without broad suppression of immune system • Immunocore-modulating mechanism has broad potential therapeutic application in multiple diseases caused by immune dysregulation • Potential application to autoimmune & inflammatory diseases
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33 KY1044: Anti-ICOS agonist – targeting multiple cancers KY1005 – “Pipeline in a single antibody" Preclinical POC Clinical developmentPhase 1/2 clinical trial in patients with advanced solid tumors as a monotherapy and in combination with atezolizumab Safety and activity data from monotherapy trial in H1 2020 Initial safety and activity data from combination trial in H2 2020 • Human monoclonal IgG1 that selectively binds to Inducible T cell CO-stimulator (ICOS) • Designed to exert anti-tumor activity through preferential depletion of intra-tumoral regulatory T cells and stimulation (agonism) of ICOS-positive effector T cells • Improves ratio of intra-tumoral effector T cells to regulatory T cells • Promotes a significant and long-lasting anti-tumor effect as a monotherapy or as a synergistic combination with anti-PD-L1
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34 Kymab 2021: Substantial clinical data for lead products 2018 2019 2020 2021 KY1005 Anti-OX40L - Safety, dosing and PD data in HV Clinical milestones through 2021 1 2 3 6 4 5 7 8 9 KY1005 Anti-OX40L - Early efficacy data in AD KY1044 Anti-ICOS agonist - Safety and early efficacy data in cancer KY1005 Anti-OX40L - Early efficacy data in GvHD prophylaxis KY1044 Anti-ICOS agonist + PD-(L)1 - first combination data KY1070 Anti-BMP6 - Safety and early efficacy data in HV and in CKD patients on dialysis KY1044 Anti-ICOS agonist - Efficacy data in cancer patients KY1005 Anti-OX40L - Ph2b data in AD KY1005 Anti-OX40L - Early efficacy signal in new indications Pipeline continues to grow with 1-2 new possible development candidates per year
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35 Viamet
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36 Viamet: Company overview Proven drug target class Metalloenzymes are a proven drug target class • Metal is key to enzyme activity Most inhibitors contain a metal-binding group (MBG) which inactivates the metal • The MBG in many drugs often binds too tightly Tight metal binding leads to off-target toxicity and narrow therapeutic index Company overview Unmatched expertise in metalloenzyme chemistry and biology Following excellent Phase 2b results, NovaQuest Capital acquired and agreed to advance the clinical development of VT-1161 for the treatment of recurrent vulvovaginal candidiasis (RVVC) and onychomycosis (OM) • Progress of this molecule will provide a substantial cash flow to Malin – estimated total deal value of approx. $330 million • Deal structured so milestone and royalty payments flow back to Viamet shareholders on clinical and commercial success Pipeline of breakthrough agents to treat life threatening fungal infections, cancer and orphan diseases • All drug candidates internally discovered and 100% owned Viamet portfolio Preclinical Phase 1 Phase 2 Phase 3 Next steps VT-1161 Phase 3 Results Phase 3 Start VT-1129 Phase 1 Results RVVC OM CCM
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37 Viamet: NovaQuest VT-1161 transaction Deal summary NovaQuest acquired VT-1161 from Viamet NewCo (Mycovia) will fund Phase 3 development of VT-1161 in RVVC, and will retain right to develop the drug for OM and other indications Viamet will retain rights to platform and remainder of pipeline (Selenity Therapeutics) Malin Perspective Great validation for platform and major success after competitive bid process Upfront payment of $11.6M (of which $10.6M was received in February 2018), and continued receipt of cash flows in 2019+ timeframe Malin still owns ~15% of Viamet non-VT-1161 business, representing potential future upside The data for Viamet Pharmaceutical’s VT-1161 program is very compelling, and we see the potential for VT-1161 to become a centerpiece for NovaQuest Capital in the fields of women’s health and dermatology - Mr. Jordan (Partner of NovaQuest Capital) “ ”
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38 Revenue Generative Asset profiles
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39 3D4Medical
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40 3D4Medical: Company overview Company overview 3D4Medical is an award winning technology company based in Dublin, Ireland Building products that help students and patients understand human anatomy in an intuitive and accessible manner High quality powered detailed images and graphics Medically accurate anatomical structures combined with seamless interface Interactive functionality and striking design Most successful medical app developer in the world Largest medical image library in the world Over 100 apps developed for iOS and Mac #1 selling Medical App on Apple iOS and Android More than 10 million downloads Multiple high potential strategies in clinical space to be pursued Revenue growth of 300% since 2015 Apple Keynote - Complete Anatomy Release John Moore, Founder & CEO 20+ years experience in driving businesses and developing 3D technology in medical learning industry Niall Johnston, Co-founder & President 3D4Medical (US) 20+ years experience in enterprise sales and in the medical learning industry Irene Walsh, Director of Design 10+ years experience in the design field, across architectural, medical, graphic, user experience and interface design Management team
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41 3D4Medical: Company overview Rendering engine Cloud-based generator 3D Models Animation and content Data Complete Consultation ‒ First clinical product Complete Ortho launched in May 2017 ~$1.5bn market across the key therapeutic areas in the U.S alone Complete Anatomy & Content Builder Platform ‒ 12 million apps downloaded to date Multi-billion $ market worldwide for medical publishers Complete Anatomy Inside & “The Lab” ‒ API licensing, AR / VR and beyond Billions of API transactions across top tech players daily Sales via the App Store, proprietary website and direct to academic institutions, with an increasing number of customers signing up to an annual subscription model Academic Clinical Other 3D4Medical own all their technological IP
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42 Altan
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43 Altan: Company overview Company overview Altan Pharma Ltd was created as an investment vehicle to acquire specialty injectable assets Headquartered in Dublin, Ireland Founded by four former Corporate Officers of Abbott Laboratories First acquisition completed in 2015 – the GES Group in Spain Altan is broadening its geographic footprint in Europe with a new direct commercial strategy and 140+ product registrations 20+ active new products in development Malin plc is the majority investor & shareholder and closely aligned with management GES Group overview Altan’s first acquisition was the GES Group GES is a leading injectable generic company in Spain with #1 or #2 market position for several molecules GES is a fully integrated injectables drug business with commercial, manufacturing, QA / QC, regulatory, medical and R&D capabilities Has broad international presence through partnerships with leading local market participants Analgesic / Anesthetics Women’s Health GI Cardio- vascular Anti- infectives Therapeutic focus Developing injectable products for hospital segments
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44 Altan: Strategy focused on four main initiatives Expand geographic presence by going direct in the larger European markets Altan has targeted the 9 most attractive European markets to go direct 24 molecules, 142 registrations currently in process across these markets Go-direct strategy Internal R&D US market Business development Significant investment in R&D to bring 19 new products to the market by 2021 1st launch is in 2019 Leverages the go-direct strategy Opportunity to enter $300mm+ US market for intravenous formulations of paracetamol Q319 FDA registration filing in the US Granted two patents by the USPTO covering its intravenous formulation In March 2019, as expected, Mallinckrodt, the exclusive supplier of IV paracetamol in the US, filed a suit against Altan alleging infringement of several of its patents. Altan is highly confident that it does not violate the Mallinckrodt patents at issue and plans to vigorously defined its right to enter the US market In-licensing/acquisitions/distribution expansion Altan’s internal R&D efforts will be supplemented by select in-licensing opportunities Acquisition opportunities in Latin America currently being pursed
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45 Xenex
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46 Xenex: Company overview US-based commercial stage medical device company focused on reducing hospital acquired infections Manufacturing and selling the only non-mercury, full- spectrum disinfection system on the market The first version became available in 2010 Next generation (sixth) mobile version under development Hospital acquired infections (HAIs) require costly treatment and can results in loss of life 1 in 25 patients will contract a HAI while in care, with close to 75,000 of these patients dying annually HAIs cost the U.S. healthcare industry upwards of $30bn annually Razor/razorblade business model: capital sales coupled with recurring service revenue Secondary markets: hospitality, cruise ships, sports, schools, public facilities Company overview Technology Developed and designed to be highly effective, efficient, safe and portable Disinfection of any space within a healthcare facility 25 granted patents and 64 pending applications Major shareholders
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47 Appendices
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48 Board of Directors Liam Daniel Chairman Rudy Mareel Lead Independent Non-Executive Jean-Michel Cosséry, Ph.D Independent Non-Executive
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49 Senior management Sean Murphy Malin Executive VP Darragh Lyons Chief Business and Financial Officer
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50 How to find out more Jessica Bergin Director of Investor Relations investorrelations@malinplc.com +353 1 901-5700 Andrew Young andrew.young@davy.ie Dublin Ken Rumph krumph@jefferies.com London Malin Contact Analyst Coverage AY KR Alistair Campbell alistair.campbell@liberum.com London AC
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51 Disclaimer This document is personal to the recipient and has been prepared and issued by Malin Corporation plc (the “Company”) incorporated and registered in Ireland under the Irish Companies Acts and is the responsibility of the Company. For the purposes of this notice, this presentation (the “Presentation”) shall mean and include the slides, the oral presentation of the slides by the Company, hard copies of this document and any materials distributed at, or in connection with, that oral presentation. The slides are given in conjunction with an oral presentation and should not be taken out of context. This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. 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No representation or warranty, express or implied, is given by or on behalf of the Company or its investee companies or any of such persons' advisors, or any of their respective parent or subsidiary undertakings, the subsidiary undertakings of any such parent undertakings or any of the directors, officers, employees of such person as to the fairness, accuracy or completeness of the contents of this Presentation, for the opinions contained in this Presentation or for any other statement made or purported to be made by any of them, or on behalf of them and no responsibility or liability is accepted by any person for such information or opinions. No person has been authorised to give any information or make any representations other than those contained in this Presentation and, if given and/or made, such information or representations must not be relied upon as having been so authorised. The contents of this Presentation are not to be construed as legal, financial or tax advice. No liability is accepted for any such information or opinions by the Company or its investee companies, or any of their respective directors, members, officers, employees, agents or advisers. Nothing in this Presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. There is no obligation on any person to update this document, correct any inaccuracies which may become apparent or to publicly announce the result of any revision to the statements made herein except to the extent that they would be required to do so under applicable law or regulation. To the extent permitted by law, no responsibility or liability whatsoever is accepted by the Company or its investee companies or any of such persons' directors, officers, employees or affiliates or any other person for any loss howsoever arising, directly or indirectly, from any use of this Presentation or such information or opinions contained herein or otherwise arising in connection herewith. Except where otherwise indicated herein, the information provided in this Presentation is based on matters as they exist as of the date of preparation and not as of any future date. Certain statements included in this Presentation contain forward- looking information concerning the Company’s and its investee companies’ strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Company and its investee companies operate. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which are within the Company’s or its investee companies’ control or can be predicted by the Company or by its investee companies. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from those set out in the forward-looking statements. The forward-looking statements made in this Presentation relate only to events as of the date on which the statements are made. Nothing in this Presentation should be construed as a profit forecast and no part of these results constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company, and must not be relied upon in any way in connection with any investment decision. The Company expressly disclaim any obligation or undertaking to update or revise any forward-looking statement.
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