MorphoSys Company Presentation JPM 150114
Transcription
MorphoSys Company Presentation JPM 150114
J.P. Morgan 33rd Annual Healthcare Conference Company Update January 14, 2015 © MorphoSys - January 2015 1 Safe Harbor This presentation includes forward-looking statements. Actual results could differ materially from those included in the forward-looking statements due to various risk factors and uncertainties including changes in business, economic competitive conditions, regulatory reforms, foreign exchange rate fluctuations and the availability of financing. These and other risks and uncertainties are detailed in the Company’s Annual Report. © MorphoSys - January 2015 2 Investment Case MorphoSys is committed to developing a valuable pipeline of truly differentiated therapeutic antibodies built using proprietary technologies Broadest antibody pipeline in the industry, based on HuCAL & Ylanthia 94 programs, 22 antibodies in clinical trials Growing portfolio with currently 10 proprietary programs Favorable economics Strong balance sheet and recurring cash-flows Sustains investment in R&D © MorphoSys - January 2015 3 The MorphoSys Pipeline 22 Clinical Programs, 94 Total Most advanced development stage Program Partner Target Bimagrumab (BYM338) Guselkumab (CNTO1959) Gantenerumab MOR103 MOR208 BHQ880 CNTO3157 CNTO6785 LFG316 LJM716 NOV–3 Tarextumab (OMP-59R5) VAY736 MOR202 BAY94-9343 BI–836845 NOV–7 NOV–8 NOV-9 NOV-10 PF-05082566 Vantictumab (OMP-18R5) MOR209/ES414 MOR106 25 programs Immuno-oncology program 4 MOR programs 40 programs Novartis Janssen Roche GSK Novartis Janssen Janssen Novartis Novartis Novartis OncoMed Novartis Celgene Bayer BI Novartis Novartis Novartis Novartis Pfizer OncoMed Emergent Galapagos Various Merck Serono Various ActRIIB sIBM (musculoskeletal) IL23p19 Psoriasis Amyloid-ß Alzheimer’s disease GM-CSF Rheumatoid arthritis CD19 ALL, CLL, NHL DKK-1 Multiple myeloma Inflammation Inflammation C5 Eye diseases HER3 Cancer not discl. Notch 2 Solid tumors BAFF-R Inflammation CD38 Multiple myeloma Mesothelin (ADC) Solid tumors IGF-1 Solid tumors Eye diseases Inflammation Diabetic eye diseases Cancer 4-1BB Solid tumors Fzd 7 Solid tumors PSMA/CD3 Prostate cancer Inflammation Various Cancer Various Various © MorphoSys - January 2015 Disease Area Discovery Preclinic Phase 1 Phase 2 Phase 3 84 Partnered Programs 10 MOR Programs 4 What to Expect in 2015/2016 Readouts from 2 pivotal studies (bimagrumab & guselkumab) Clinical readouts for another 8 partnered programs expected Up to 10 new INDs MOR208 Updated phase 2 mono-therapy data Start of combination trials MOR202 Clinical data from phase 1/2a trial Start of combination cohorts MOR209 Start of phase 1 trial Potential in-licensing of additional compound(s) Deals for access to targets and/or technologies © MorphoSys - January 2015 5 Partnered Clinical Pipeline (I) Program Bimagrumab (BYM338) Partner Novartis Target ActRIIB BHQ880 Novartis DKK-1 LFG316 Novartis C5 NOV-3 VAY736 Novartis Novartis n.d. BAFF-R LJM716 Novartis HER3 NOV-7 NOV-8 NOV-9 NOV-10 Novartis Novartis Novartis Novartis n.d. n.d. n.d. n.d. © MorphoSys - January 2015 Indication Phase 1 sIBM (52 weeks) sIBM (long-term study) Cachexia (COPD) Cachexia (cancer) Hip fracture surgery Sarcopenia MM (renal insufficiency) Smoldering MM Wet AMD Geographic atrophy MCP n.d. Pemphigus vulgaris Primary Sjögren's syndrome RRMS ESCC (combo with BYL719) HER2+ cancer (combo with BYL719 & trastuzumab) HER2+ cancer, combination with trastuzumab HER2+ cancer Advanced solid tumors Eye disease Inflammation Diabetic eye disease Cancer Phase 2 Phase 3 6 Partnered Clinical Pipeline (II) Program Guselkumab (CNTO1959) Partner Janssen/J&J Target IL23p19 Gantenerumab Roche Amyloid-ß CNTO3157 Janssen/J&J n.d. CNTO6785 Janssen/J&J n.d. Tarextumab (OMP-59R5) Oncomed/GSK Notch 2 Vantictumab (OMP-18R5) Oncomed/Bayer Fzd 7 BAY94-9343 BI-836845 Bayer BI Mesothelin IGF-1 PF-05082566 Pfizer 4-1BB © MorphoSys - January 2015 Indication Phase 1 Moderate to severe psoriasis Psoriasis (VOYAGE 1) Psoriasis (VOYAGE 2) Psoriasis (NAVIGATE) Rheumatoid arthritis Palmoplantar pustulosis Active psoriatic arthritis Mild Alzheimer‘s disease Genetically predisposed Asthma Safety/Pharmacokinetic COPD Rheumatoid arthritis Pancreatic cancer (ALPINE) Small cell lung cancer (Pinnacle) Solid tumors Solid tumors Breast cancer Pancreatic cancer NSCLC Solid tumors Solid tumors, Japanese patients EGFR mutant NSCLC Breast cancer CRPC + enzalutamide Various solid cancer Advanced solid tumors Solid Tumors, NHL (+rituximab) Solid tumors, combination with PD-1 inhibitor MK-3475 Phase 2 Phase 3 7 Bimagrumab (BYM338) A Novartis Musculoskeletal Program DRUG HuCAL antibody against ActRIIB FDA breakthrough therapy designation for sporadic inclusion body myositis (sIBM) Orphan drug designation in sIBM CLINICAL Potential novel treatment of sIBM DATA Phase 2 results in sIBM[1]: Muscle mass increased substantially from baseline, approx. 5% more than placebo Muscle gain was functional evidenced by parallel increases in strength and 6-minute walking distance NEXT sIBM patient who has typical prominent weakness and atrophy of quadriceps and finger flexors[2] Pivotal study in sIBM ongoing, completion scheduled for Q4 2015 Listed by Novartis as “planned filing 2016” [1] A Amato et al; Neurology; Nov 7, 2014, online [2] WK Engel and V Askanas; Neurology 2006; 20-29 © MorphoSys - January 2015 8 Guselkumab (CNTO1959) A Janssen Anti-Inflammatory Program DRUG HuCAL antibody specific for IL-23, doesn’t bind IL-12 Specificity may provide better risk/benefit profile Dosing schedule sc q8w or even less frequently CLINICAL Phase 2b results in psoriasis at week 16 DATA Up to 86% of patients achieved a Physician's Global Assessment (PGA) score of cleared or minimal disease at week 16 (primary endpoint) Significantly higher efficacy than comparator Humira NEXT Clinical response to a single dose of 10 mg of guselkumab administered at baseline[1] Three Phase 3 trials scheduled for completion in 2016 “Planned filings 2013–2017” (J&J analyst day 2013) [1] H Sofen et al; J Allergy Clin Immunol 2014; 133: 1032-40 Results from phase 2b study: 293 patients with mild-to-moderate plaque psoriasis @week 16 PGA 0 or 1 PASI 75 PASI 90 © MorphoSys - January 2015 Placebo 7% 5% 2% 5 mg 50 mg 200 mg at week 0, 4, then every 12 34% 79% 44% 81% 34% 45% weeks 83% 81% 57% 15 mg 100 mg every 8 weeks 61% 86% 76% 79% 34% 62% Humira 58% 70% 44% 9 Gantenerumab A Roche Alzheimer’s Disease Program HuCAL antibody against amyloid-ß, binds Nterminus and middle of peptide Binds/disrupts amyloid plaque and oligomers; binds peptide only weakly CLINICAL In phase 1, gantenerumab clears brain amyloid DATA very efficiently in mild-to-moderate AD patients Phase 3 SCarlet RoAD trial in prodromal patients discontinued based on pre-planned futility analysis Phase 3 Marguerite RoAD trial with 1,000 patients with mild AD ongoing DIAN network trial in genetically pre-disposed patients ongoing NEXT % Amyloid change from baseline DRUG Data from Phase 1 Effect of gantenerumab on amyloid load as indexed by PET SUVR at end of treatment Data from the SCarlet RoAD study will be shared by Roche with the medical community after full review and analysis Data: Courtesy of Roche © MorphoSys - January 2015 10 The MorphoSys Proprietary Portfolio Program Indication Discovery Preclinic Phase 1 Phase 2 Phase 3 Next Event Fully partnered (tiered, double-digit royalties) MOR103 RA Phase 2b study in RA Multiple sclerosis Co-development & co-promotion MOR202 Multiple myeloma Start of combo cohorts Data from phase 1/2a MOR209/ES414 Prostate cancer Start of phase 1 ALL Data from phase 2 (mono) NHL Phase 2 mono-therapy data update Start of combo trials CLL (IST) Data from combo trial Unpartnered MOR208 Early-stage programs MOR106 Inflammation Immuno-oncology program Cancer 4 Programs Various © MorphoSys - January 2015 Start of phase 1 in 2016 11 MOR208 A Novel Antibody to Treat B cell Malignancies DRUG Fc-enhanced, humanized antibody targeting CD19 Fc modification leads to dramatically enhanced B cell depletion Convenient dosing schedule, straightforward manufacturing Fast Track Designation in DLBCL, FDA & EMA Orphan Drug Status in CLL/SLL and DLBCL CLINICAL Phase 2 data for mono-therapy: DATA CLL: ORR of 38% (IWCLL 2008) at recommended dose despite short treatment CLL: Median PFS at recommended dose 37 weeks; 60 weeks in expansion cohort DLBCL: ORR of up to 36% within evaluable patients FL: ORR of up to 28% within evaluable patients NEXT Updated phase 2 mono-therapy data Start of combination trials Efficacy outcome, n (%) ORR (all pts in cohort) ORR (evaluable patients†) DLBCL (n=35) 9 (26%) 9 (36%) FL (n=31) 7 (23%) 7 (28%) iNHL (n=11) 4 (36%) 4 (40%) MCL (n=12) 0 0 Overall (n=89) 20 (22%) 20 (28%) † patients that have completed two cycles of treatment and subsequently received disease response assessment © MorphoSys - January 2015 12 MOR208 is Superior to Other CD19 & CD20 Antibodies in R/R CLL Single-agent Antibodies in R/R CLL (IWCLL2008) CD19 Antibodies CD20 Antibodies SD, PD and non-evaluable/info not available if SD or PD ORR 38% MOR208 12mg/kg (n=16) 24% 30% MEDI-551 phase I/II 12mg/kg (n=26) Obinutuzumab phase II (n=20) © MorphoSys - January 2015 23% Ofatumumab phase III (n=196) 13% Rituximab (n=110) MEDI-551 data source: Poster ASCO 2013, 12mg/kg dosing group Obinutuzumab data source: GAUGUIN study, Cartron et al, Blood 2014 Ofatumumab data source: control arm in ibrutinib vs. O phase III trial (RESONATE, ASCO 2014) Rituximab data source: Late breaking abstract #6, ASH 2013 Criteria: Hallek et al 2008 (including CT) 13 MOR202 A Novel Antibody for Multiple Myeloma DRUG High affinity HuCAL antibody targeting CD38 Binds to a unique epitope with low nanomolar affinity MOR202 Shows High ADCC and ADCP Activity as Single Agent Ability to kill MM cells in vitro and in multiple in vivo models (ADCC & ADCP) 2 hour infusion time DATA Strong synergy with IMiDs lenalidomide & pomalidomide in pre-clinical models via CD38 up-regulation on MM cells and effector cell activation NEXT Additional cohorts at weekly dosing schedule, with & without dexamethasone Clinical data to be presented in 2015 Combination cohorts with lenalidomide & pomalidomide to start in H1 2015 © MorphoSys - January 2015 14 MOR209/ES414 - A Bi-specific Immunotherapeutic Against Prostate Cancer DRUG Bi-specific anti-PSMA/anti-CD3 immunotherapeutic: targeting PSMA on prostate cancer cells targeting CD3 on cytotoxic T cells Redirects T cells to kill tumor cells expressing PSMA in vitro and in vivo Co-development with Emergent BioSolutions DATA Reduced cytokine release upon T cell activation compared to other formats Prolonged serum half-life in mouse and NHP compared to antibody fragments Well-tolerated in NHP single-dose and repeatdose studies NEXT IND filed; phase 1 clinical trial to be initiated in mCRPC in the U.S. and Australia © MorphoSys - January 2015 15 Key Financials in EUR million Guidance 2014 Q3 2014 Group Revenues 58 to 63 46.9 EBIT -5 to -8 -3.7 Cash, cash equivalents & marketable securities as well as other financial assets as of June 30, 2014 364.3 2015 financial guidance will be issued on February 26, 2015 Cash position at YE 2014 approximately EUR 353 million Stock Information Frankfurt Stock Exchange, Prime Standard, TecDAX Ticker: Bloomberg: MOR:GR Reuters: MORG.DE Thomson ONE: MOR-XE Shares issued: 26,456,834 (Dec 31, 2014) © MorphoSys - January 2015 16 PHASE 1 PHASE 2 PHASE 3 Clinical Trials Scheduled for Completion Guselkumab Psoriasis (VOYAGE 1) Guselkumab Psoriasis (NAVIGATE) Bimagrumab sIBM Guselkumab Psoriasis (VOYAGE 2) CNTO6785 Rheumatoid Arthritis Bimagrumab Hip Fracture Surgery CNTO6785 COPD Bimagrumab Sarcopenia MOR208 ALL (mono) LFG316 MCP Tarextumab Pancreatic cancer LJM716 ESCC, combo w/BYL719 VAY736 RRMS MOR208 NHL (mono - update) MOR208 - IST CLL (combo with Len) BAY94-9343 Solid tumors MOR202 Multiple Myeloma BI-836845 Advanced solid tumors Tarextumab Solid tumors BI-836845 NSCLC BI-836845 Various solid tumors Vantictumab Breast cancer BI-836845 Solid tumors (Japan) LJM716 Advanced solid tumors Vantictumab NSCLC Vantictumab Solid tumors LJM716 HER2+ cancer (combo) Vantictumab Pancreatic cancer LJM716 HER2+ cancer (combo) 2015 Potential data events based on clinical trial design & MorphoSys estimates © MorphoSys - January 2015 2016 Partnered Programs MOR Programs 17 Thank You www.morphosys.com Dr. Claudia Gutjahr-Löser Head of Corporate Communications & IR Phone +49 (0)89 / 899 27-122 Fax +49 (0)89 / 899 27-5122 Email [email protected] HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla® , Ylanthia® and 100 billion high potentials® are registered trademarks of MorphoSys AG. Slonomics® is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.