Transcript PHARMASUM THERAPEUTICS

PHARMASUM THERAPEUTICS AS
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We develop drug treatments for Alzheimer ’s disease
Anders Fugelli, PhD
Chief Executive Officer
D e m e n t i a I nv e st m e n t Fo r u m
1 5 th A p r i l 2 0 1 5
NOT FOR GENERAL DISTRIBUTION
An attractive investment seeking 5 MNOK (GBP 500k)
• Targeting disease area with high unmet medical need
• Team with excellence in drug discovery and commercialisation
• Coherent plan
• Potential for high-value M&A exit in 5-7 years
• Current investment will deliver value-inflection
NOT FOR GENERAL DISTRIBUTION
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Alzheimer’s disease has a huge unmet medical need
 Disease first described in 1906 by the physician Alois Alzheimer;
Cells in the brain gradually die and leads to impaired memory,
behaviour, sleep and death within 10 years
 > 10 % of everyone above 75 yrs suffer from Alzheimer’s
 Care and nursing for demented individuals costs > 1% of the
global GDP and number is expected to triple within 2050
 There is no cure, only symptomatic treatments
Pharmasum is developing drugs targeting the processes that is
currently considered to be central to the disease
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Frau Auguste Deter Patient described by
Alzheimer
An international, experienced team
Anders Fugelli, Ph.D., Founder and Chief Executive Officer
 More than 20 years experience in neuroscience research, pharmaceutical and biotechnology industry – Neurology at GSK, start-up experience Lytix Biopharma
 PhD in Neuropharmacology / biochemistry from Imperial College, London
 Corporate Finance study module, London Business School
John Sigurd Svendsen, Ph.D., Co-founder and Chief Scientific Officer
 Professor of organic chemistry in the Faculty of Sciences at the University of Tromsø, Norway; start-up experience Lytix Biopharma
 Extensive research experience from work in medical biochemistry, synthetic organic chemistry and medicinal chemistry
 PhD from the University of Tromsø - postdoc with Professor K.B. Sharpless (Nobel Laureate, Chemistry, 2000) at MIT.
Rich Engh, Ph.D., Advisor on Structural Biology
 Professor at the University of Tromsø, Norway
 Extensive experience protein kinase x-ray crystallography, industry focused R&D (Boehringer Ingelheim, Roche)
 PhD University of Chicago - postdoc with Professor Robert Huber (Nobel Laureate, Chemistry, 1988) at Max-Planck.
Pauline Stewart-Long, Ph.D., Head of Project Management
 More than 27 years broad experience as Pharmaceuticals R&D Project Manager
 Previously Head of GSK Global R&D Project Management
Henning Mork, Chief Financial Officer
 More than 25 years financial experience within industry
 Senior managment experience from listed as well as private, start-up companies
 Bachelor in Marketing at BI with additional studies in finance and political science
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A highly qualified incoming Board – R&D and Commercialisation
Andrew A Parsons, Ph.D., Chairman
Dr. Parsons has vast experience from preclinial R&D, primarily within the CNS field. He manages Reciprocal Minds, a consultancy company focusing on building strong cross-cultural
teams. Previously, he was Vice-President and founding member of the GSK system for external innovation - Centre of Excellence for External Drug Discovery (CEEDD). Previously, at
GSK Dr. Parsons was head of preclinical R&D and member of the Management Team at Centre of Excellence for Drug Discovery (CEDD) for Neurology and GI. He served as the Head
of the global Imigran Scientifc Advisory Board.
Øystein Soug, M.Sc., Non-executive Director
Øystein Soug was until recently CFO of the Norwegian biotechnology company Algeta, where he started in 2008. Algeta witnessed extensive growth, with an increase in share price
from approx. NOK 8 in Dec. 2008 to around NOK 362 when it was sold to Bayer in March 2014. Mr. Soug has in this period been responsible for building up the Finance, IR, IT and
HR functions of the company and gained broad experience through three equity fund raisings and one large out-licensing deal. Prior to Algeta, he worked six years at the
Norwegian industrial group Orkla, lastly as CFO of Orkla's Russian arm, and previously within Orkla's Corporate Development division focusing on M&A. Mr. Soug started his career
as a banker with Credit Suisse and with the European Bank for Reconstruction and Development. Mr. Soug received an MSc in Economics and Financial Markets from Universität St.
Gallen in Switzerland in 1997.
Masha Strømme, PhD, Non-executive Director
Dr. Strømme has a PhD in Alzheimer’s disease from University of Oxford, UK and extensive experience in Life Sciences Investment Banking from Morgan Stanley and Altium Capital
(Apax) in London. She is member of the Board of Navamedic ASA, LipiDx AS and Mylife products AS. She works as advisor for Artic Securities and Oslo Medtech.
John Sigurd Svendsen, Ph.D., CSO and Non-executive Director
See management bio
Anders Fugelli, CEO – reporting to Board
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Unique technology base within drug-design
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X-ray crystallography
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Supercomputer modelling
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X-ray crystallography
Drug design know-how
Biophysical measurments
of target:ligand interaction
StructureActivity
Relationship (SAR)
40nM
250nM
(IC50)
>2000 nM
Less than 30 compounds synthesised
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Protein kinase enzyme DYRK1A is linked to dementia
 Closely
 Is
involved in brain development
increased in brain of Alzheimer’s patients
 Genetically
linked to Alzheimer’s and dementia in
other neurological diseases
 DYRK1A
is involved both with tangles and plaques by
promoting their formation
This is our drug target
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Normal brain
Alzheimer’s
Progress last 12 months
 Total of six proprietary X-ray structures of enzym : ligand (1.8Å resolution)
 Documented unique, chemical scaffold (series 2)
 Key CNS drug-like characteristics established
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High activity
Good selectivity
High solubility
Stability in liver microsomes
Distribution to brain tissue
Significant free fraction in brain
Effective in cellular models
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Near-term milestones – demonstrating «Proof of Principle»
5MNOK equity + Innovation Norway + Research Council
Further 15MNOK equity +
possible 4 MNOK BIA
Design phase
Done
Distribution to
brain
Efficacy in animals «Proof of Principle»
During 2015
Optimisation
Lead Candidate
 Current financing round match public funds and will deliver Lead Candidate
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Business strategy – build an attractive R&D company
«Big Pharma» needs to buy projects and companies to grow
Our exit strategy is either:
 to be acquired, or
 to pursue development and list the company on the stock exchange
For comparison:
 iPerian developed an mAb drug for Alzheimer against protein Tau
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Prosject was in preclinical phase, ready for start of phase 1 in 2015
Bristol Myers-Squibb acquired company in March 2014 for total of USD 725m
 AC Immune develops mAbs for Alzheimer
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mAb propject against Tau was in clinical phase 1
In January 2015, Johnson & Johnson bought rights through license worth USD 509m
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R&D plan to Phase 2 «Proof of Concept»
iPerian bought by BMS for USD725m
AC Immune license to Janssen for USD 500m
ACTIVITY
Chemical Optimisation
Preclincial
2015
Lead nomination
2016/2017
Preclinical
Phase 1
2018
2019
2020
2021
Optimisation
Tox/safety preclinical
Healthy volunteers
Clinical Phase 1
Clinical phase 2 - PoC
Study in patients - Phase 2
Efficacy in
animals
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Phase 2 - PoC
Decide on full
development
Safety and
tolerability
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Proof of
efficacy
Potential for extended value-generating pipeline
The technology platform delivers multiple
product opportunities capable of
sustained value-generation
Discovery; screening process for identifying
chemical starting points for further drug
development
Hit-to-Lead; testing and selecting a Lead
Candidate drug – based on efficacy, selectivity,
distribution and animal model data
Optimisation; generating an improved Lead
Candidate that can be tested for toxicology and
safety prior to Phase 1 in humans
Preclinical; Preclinical toxicology and safety
studies leading to filing of IND (Investigational
New Drug) and allowing testing in clinical
studies
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An attractive investment proposition seeking 5 MNOK
• Targeting high unmet medical need
• Excellence in drug discovery
• Coherent plan
• Potential for high-value M&A exit in 5-7 years
• Current investment will deliver value-inflection
NOT FOR GENERAL DISTRIBUTION
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Thank you for your attention
Anders Fugelli,
Founder and CEO Pharmasum Therapeutics
Phone: +47 924 81432
Email: [email protected]
NOT FOR GENERAL DISTRIBUTION
John Sigurd Svendsen,
Founder and CSO Pharmasum Therapeutics
Phone: +47 900 95972
Email: [email protected]
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