Thank you operator, and warm welcome to everyone joining this call. Medivir's first quarter numbers and highlights. Slide number three please, operator. You will find our presentation on our homepage. I do recommend everyone to read our cautionary statement, which you find on slide number three. Let's jump to slide number five, please. We will briefly present an overview of the company's main projects and partners and highlight a few numbers for the first quarter. To be continued with our CFO, Magnus, to present the broader picture of what we believe strong financial position, followed by an update on our recently announced partnerships. We'll be touching upon our 818 project for liver cancer and round up the presentation with an Q&A. Slide number six, please. Our proprietary asset 818 is a liver-directed nucleoside prodrug and has received orphan drug designation both in EU and the U.S. We did recently announce the safety follow-up of the last patient has been completed and recommended dose for the upcoming combination therapy has been determined. As previously communicated, we will announce the next study in more details later in this quarter. Our internal goal is to initiate the next study during second half of this year. We did in the quarter out-license birinapant to IGM Biosciences and have also out-licensed one of our preclinical projects, USP7 to Ubiquigent. In parallel, we have completed successful financing of the company, specifically to drive the next phase of our MIV-818 molecule. In the rights issue, the specialist investor HealthInvest has become a new major shareholder. We did receive good support from existing shareholders, LINC AB and Nordea. We do also have two programs partnering, that is remetinostat and MIV-711. Slide number seven, please. A snapshot of our clinical assets, where we have our proprietary project MIV-818, which is a liver-directed nucleoside prodrug. Currently, as I mentioned, completed the monotherapy phase I-B, where the recommended dose has been determined, where we can now continue into combination study phase. Our partnered asset at IGM, where we continue to expect initiation of a phase I trial later this year. We do have our two other assets, remetinostat and MIV-711. Remetinostat, a topical HDAC inhibitor, where there have been conducted clinical trials in CTCL basal cell carcinoma, and also a smaller trial in squamous cell carcinoma, where data has not been disclosed. For MIV-711, the company has in the past concluded an osteoarthritis phase II study. With that, I'll hand over to Magnus Christensen, CFO of the company, for financial highlights of the company. Thank you, Yilmaz. Go to slide number nine, please. Here you can see the financial summary for the quarter one this year compared to quarter one last year. Bear in mind, all numbers are in million SEK. You can see in the Q report in the last year, and this Q1 report for this year, Medivir has been very cost-conscious. For example, we have reviewed all our external agreements. As a result, you can see the cost base is much lower now as a result of that. If you look at the numbers for Q1, you can see the turnover for quarter one amounts to SEK 9.9, which is an increase of SEK 2.6 compared to last year. That really relates mainly to the out-license of birinapant to IGM Biosciences, which Yilmaz described earlier. As we continue to be very cost-conscious, for example, we have received this quarter a refund from previous clinical studies, and this is shown as other operating income. Overall, we have a lower external expenses, which amounts to SEK 18.8 compared to SEK 20.7. Please note that the revenue share to TetraLogic regarding the out-licensing of IGM of birinapant is included in this figure. Lower personnel costs relates to less number of FTE employed and amounts to SEK 5.8 compared to SEK 7.3. The loss for the quarter one is around SEK 8 million, improvement from SEK 23 last year. The cash flow from the operating activities this quarter amounts to minus SEK 1.5, which is a nice improvement from last year of SEK 16.6. If we sum up the cash position at the end of Q1 is SEK 269 million, the increase relates mainly to the right issue and the rights issues carried out in quarter one, to the SEK 223 million before the subtraction cost. According to our current plan, the cash burn rate is well into 2023. Next slide, please. Final thing secured to bring MIV-818 study into the next phase. I think we have informed you earlier about the right issue was completed successfully and oversubscribed with 93.5%. With the directed issues carried out in Q1, Medivir received a total of SEK 223 million before transaction cost. With this, Medivir has now a very strong ownership base with three strong institutions. LINC AB, a special investor with around 10.5% shareholder. Nordea, one of the larger bank in the Nordics with almost 9% shareholder. HealthInvest, a special investor with around 6.5 shareholder. Thank you all existing shareholders and the new shareholders for participating in the rights issue and directed issue. With that, I turn back the call to Yilmaz. Thank you, Magnus. Let's jump over to describe our latest partnerships. Slide number 12, please. As mentioned during the quarter, we did sign a licensing agreement with IGM Biosciences, a California clinical stage biotechnology company focused on creating and developing engineered IgM antibodies. Birinapant is initially intended to be combined with IGM-8444. This is an IgM antibody targeting death receptor 5 being developed by IGM, where birinapant has been shown to enhance antitumor activity pre-clinically. At the signing, we did receive an upfront payment of $1 million, which has now been recognized in the numbers, as Magnus mentioned. This will be followed by an additional $1.5 million when birinapant is included by IGM in a clinical phase I study. Should birinapant be successfully developed and approved, Medivir is entitled to receive development and regulatory sales milestone payments up to approximately $350 million, plus tiered royalties from the mid-single digits up to mid-teens on net sales. As mentioned, a portion of the milestones and payments received from IGM will be distributed to TetraLogic, the majority of the payments will be in the hands of Medivir. Next slide, please. Slide 13. Slide 13 is a picture presented by IGM Biosciences, why they do believe in the combination of 8444 together with birinapant. As you can see in this triple-negative breast cancer model, we see that the combination of 8444 with birinapant inhibits the tumor growth almost completely. While birinapant itself do not have any impact on the tumor growth, 8444 has a slight impact on the tumor growth. Slide 14, please. In February this year, we concluded a licensing agreement with Ubiquigent. That was based on our preclinical research program, USP7. The agreement grants Ubiquigent an exclusive global license to develop and commercialize all of the programs related substances in all therapeutic indications. In exchange, we get an agreed revenue sharing upon successful development or commercialization. Also remember last year in the first quarter 2020, Medivir entered into a licensing agreement with the US biotech company Tango Therapeutics for the preclinical USP1 research program. Tango recently announced that they will conduct an SPAC IPO. They expect to file an IND for the USP1 inhibitor in 2022. Next slide, please. Now we'll be jumping over to our proprietary project MIV-818. I'll hand over next two slides to our CSO, Fredrik Uhlén. Thank you, Yilmaz. Moving into the MIV-818 project. During the development of MIV-818, the focus was to achieve an orally administered prodrug, which was stable in the gastrointestinal tract, stable in blood, but rapidly metabolized when entering the liver. By that, we sought to achieve high exposure of the drug in the liver while minimizing systemic exposure that we don't need to treat the liver cancer. The prodrug is taken up by the liver, and it's converted in liver cancer cells to troxacitabine triphosphate, which is the active metabolite. This is done by separate series of enzymes, and it does several things. First of all, the generated metabolites, the phosphates are charged and get trapped in the cells. Second, you increase the potency as compared to troxacitabine by adding this prodrug moiety to the molecule. Once the active metabolite is formed, it's incorporated into DNA in replicating cells. Only proliferating cells are damaged by this mechanism. It causes DNA damage. It causes cell death in the cancer cells. If we move to slide 17, we have, of course, in the phase I study, as a primary objective, to explore safety and tolerability. We have additional objectives, and those were to establish a proof of concept. What we do see by analyzing the biopsies that we obtain from tumors from patients is that we have a very clear selective effect signal in the liver cancer cells. We measure this by measuring DNA damage response. We observe that in the tumor cells only. Normal liver is minimally or not at all affected. Pre-dose biopsies show that this is induced by the drug. This also is across different types of primary liver cancers, so both metastasis from other tumor sites, hepatocellular carcinoma, and cholangiocarcinoma. All indications are affected by the drug, specifically in the tumor and not in the normal liver. I'll hand over to Yilmaz to describe the markets. Thank you, Fredrik. Slide 18, please. We have and continue to believe that the HCC market is an attractive segment of the cancer market at the moment. We believe it will grow rapidly in the coming years. Factors that we believe will drive the market is the entry of new combination therapies, which will drive increased usage of drugs, improved survival rates, and treatments of patients earlier in their disease. We believe this is just the beginning, and with MIV-818, we intend to become part of these future combination therapies. As mentioned by Fredrik and the mechanism of action, we believe MIV-818 can be combined with multiple other drugs, both approved and in clinical development. As mentioned, we will update you on the next study for MIV-818 during this quarter. It is also gratifying to see that GlobalD ata and other sources of data that compile the future growth of this market has updated their numbers to become more aligned with our and others' view of the coming development in this space. Currently, the market is expected to grow fivefold in the coming years. Next slide, please. Slide 19. During the quarter and in April 19, it was announced that the last patient had undergone the safety follow-up, and the results were positive with a good safety and tolerability profile. The starting dose was determined for the second part of the phase I-B study, where MIV-818 will be given in combination with other therapies. The combination therapy is planned to be initiated in the second half of 2021. The results from the phase I-B monotherapy will be presented at an upcoming conference. We should mention that there are still three patients on treatment in the phase I-B monotherapy study. Next slide, please. Slide 21. We have two clinical stage assets for partnering. Remetinostat is a topical HDAC inhibitor, where we do have positive phase II data in CTCL. In the CTCL study, we saw an overall response rate of 40% at the highest dose treated and a decrease in pruritus of 80%. In basal cell carcinoma, the study conducted by the Stanford investigators, the top-line data has been disclosed. The overall response rate was approximately 70% in this study. However, detailed data still need to be published, and we expect that to be published in the future. We are still awaiting top-line data from the squamous cell carcinoma study, also conducted by the Stanford group, to be published. We hope to keep you updated when that data is available. Next slide, please. Slide 22. Finally, I think the company has made great advances in the last six months. We do have strong finances to aggressively bring MIV-818 into the next stages of clinical development. We have created a strong shareholder base. We have licensed out birinapant to attractive terms. If all goes according to plan, we should have initiated our next study with MIV-818 in the second half of this year, and our partner, IGM, should have initiated the combination therapy with birinapant also in the second half of this year. In connection with the annual general meeting, as a CEO of Medivir, I'm pleased to be proposed as a board member of Medivir and look forward to continue to contribute to the company's development in that role. The board's work to recruit my replacement as CEO is in full swing, but not yet fully completed. During this interim time, our CFO, Magnus Christensen, will head the company. I would like to thank my competent and dedicated colleagues at the company for this exciting and inspiring period, and assure my successors that Medivir has good prerequisites and a very strong potential to create value for healthcare and patients, as well as for our shareholders. We do stand on strong grounds. With that, operator, I would like to open up for a Q&A session. Thank you. Ladies and gentlemen, to register for a question, please press zero followed by the one on your telephone keypad. Our first question comes from Joe Pantginis from H.C. Wainwright & Co. Please go ahead, your line is open. Hey, guys. How are you doing? Thank you. Thanks for taking the question. I have just two logistical questions at this point. First, definitely looking forward to the expansion studies for MIV-818 in combination, and was just curious if you could just remind us about the supply chain for MIV-818 and manufacturing capabilities and readiness. Absolutely. I think I will hand that question over to Fredrik. He's much more closer into the supply chain. Yes. We have available drug for the combination study. It's a question of labeling and distribution. That has already been produced. Got it. Thanks for that. The other thing is on the management front. Yilmaz, thank you for your tenure, and I'm glad you're staying on the board with the successful turnaround that's been going on at the company, and you really have a new strategy in place. Thank you for that. I guess the question that I have for you being now on the board as well as for Uli, who is the Chairman is, what are the leadership characteristics or qualities that you're looking for in a new CEO candidate? Thank you for the question, Joe Pantginis. I think there are a couple of aspects. I think the first aspect, given that we do have strong financial grounds in place right now, it's all about keeping the speed up in the clinical development. Operationally, it's one of the focus, but also in corporate development. We still have two assets that need to be out-licensed, for example, find partners for. I think that's one of the characteristics that we are also looking for, to have these two experiences in the upcoming leader of the company. Got it. I appreciate the details, guys, and thanks a lot. Thank you, Joe. Thank you. Our next question comes from Niklas Elmhammer from Redeye. Please go ahead. Your line is open. Yes. Good afternoon. Thank you for taking my question. I apologize. I thought I missed something you said about the income sharing with TetraLogic. How is that booked? Thank you for the question, Niklas. I will hand over that to Magnus, our CFO. Hi, Niklas. Thank you for your question. According to the revenue share agreement that we have with TetraLogic, a part of the revenue that we will receive from IGM regarding birinapant will be shared to TetraLogic. That is booked as other external expenses. Okay. Thank you. Just another financial detail. The refunds for clinical costs, could you remind us what that is about? You mean the refund? Yeah. We are reviewing all agreements that we have today and past, and really reviewing the terms and condition. It's really a renegotiation, and the summary of that is that we will receive a refund, where we have received a refund from the trial that we've done, the clinical study. Okay. Great. Thank you. Thank you. Thank you. That's another reminder to register for a question. Please press zero on your telephone keypad. Thank you. There appear to be no further questions. I'll return the conference back to you. Thank you, operator. Thank you everyone for all the questions and for listening to our first quarter financial highlights and also operational highlights. I think we are standing on two strong fundamentals, and we believe we can create some good value for patients and shareholders going forward. Thank you.
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