company update - morphosys ag · guselkumab janssen/j&j il23p19 psoriasis (voyage 1) (cnto1959)...
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Safe Harbor
© MorphoSys AG, Company Update - May 2016
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.
2
MorphoSys at a Glance
MorphoSys is developing a pipeline of truly differentiated
therapeutic antibodies built using proprietary technologies
Munich, Germany-based biopharmaceutical company
The industry’s largest antibody therapeutic pipeline assembled using
proprietary technologies:
104 active therapeutic programs
26 antibodies in clinical trials
Growing portfolio of attractive proprietary assets
Strong balance sheet with recurring cash-flows supports growing investment
in R&D
Successful track-record of partnering world-wide
Listed on the German TecDAX
© MorphoSys AG, Company Update - May 2016 3
© MorphoSys AG, Company Update - May 2016 4
The MorphoSys Pipeline
26 Clinical Product Candidates, 104 Total
Program Partner Target Disease Area Discovery Preclinic Phase 1 Phase 2 Phase 3
Bimagrumab (BYM338) Novartis ActRIIB Musculoskeletal diseases
Guselkumab (CNTO1959) Janssen IL23p19 Psoriasis
Gantenerumab Roche Amyloid-ß Alzheimer’s disease
MOR208 - CD19 ALL, CLL, NHL
MOR202 - CD38 Multiple myeloma
MOR103/GSK3196165 GSK GM-CSF Inflammation
Anetumab Ravtansine (BAY94-9343) Bayer Mesothelin (ADC) Solid tumors
BHQ880 Novartis DKK-1 Multiple myeloma
BPS804 Mereo/Novartis Sclerostin Brittle bone syndrome
CNTO3157 Janssen - Inflammation
CNTO6785 Janssen - Inflammation
LFG316 Novartis C5 Eye diseases
LJM716 Novartis HER3 Cancer
Tarextumab (OMP-59R5) OncoMed Notch 2 Solid tumors
VAY736 Novartis BAFF-R Inflammation
MOR209/ES414 Emergent PSMA/CD3 Prostate cancer
MOR106 Galapagos - Inflammation
BAY1093884 Bayer TFPI Hemophilia
BI–836845 BI IGF-1 Solid tumors
NOV–7 Novartis - Eye diseases
NOV–8 Novartis - Inflammation
NOV-9 Novartis - Diabetic eye diseases
NOV-10 Novartis - Cancer
NOV-11 Novartis - Blood disorders
PF-05082566 Pfizer 4-1BB Solid tumors
Vantictumab (OMP-18R5) OncoMed Fzd 7 Solid tumors
MOR107 (LP2) - AT2-R Fibrosis
Immuno-oncology program Merck - Cancer
Immuno-oncology program Immatics - Cancer
6 MOR programs - - Various
90 Partnered Discovery Programs
13 MOR Programs
1 Outlicensed Program
Most advanced development stage
In addition, 24 partnered programs in pre-clinic, and 45 partnered programs in discovery
The MOR Portfolio
5 Clinical Product Candidates, 14 Total
© MorphoSys AG, Company Update - May 2016 5
Program Indication Target Discovery Preclinic Phase 1 Phase 2 Phase 3
Unpartnered
MOR208 DLBCLCD19
CLL
MOR202 Multiple myeloma CD38
MOR107 Fibrosis AT2-R
Immuno-oncology program
CancerMHC-associated peptides
6 Programs Various Various
Co-development & co-promotion
MOR209/ES414 (Emergent)
Prostate cancer PSMA / CD3
MOR106(Galapagos)
Inflammation Undisclosed
Immuno-oncology program(Merck Serono)
Cancer Undisclosed
Outlicensed to GSK
MOR103/GSK3196165
RA
GM-CSFOsteoarthritis of the hand
FTD, orphan status US & EU
Orphan status US & EU
MOR208
First- & Best-in Class Potential
© MorphoSys AG, Company Update - May 2016 6
CD19 is an ideal target in NHL because
CD19 is broadly and homogeneously expressed
Across different NHL subtypes incl. DLBCL and CLL
CD19 conveys a survival signal for B cells
Via B cell receptor signaling
CD19 expression seems to be preserved
Even after pretreatments targeting B cells
MOR208 is an Fc-enhanced, humanized IgG1 antibody
targeting CD19
Fc modification leads to dramatically enhanced B cell
depletion by
Antibody dependent cellular cytotoxicity (ADCC)
Antibody dependent cell phagocytosis (ADCP)
Direct cytotoxicity
Straightforward manufacturing
Strong pre-clinical support for combo therapy
ADCC
MOR208 in R/R CLL
Superior to Other CD19 and CD20 MAbs
© MorphoSys AG, Company Update - May 2016 7
38%
24%
30%
23%
13%
0%
10%
20%
30%
40%
50%
MOR20812mg/kg
(n=16)
MEDI-551phase 1/212mg/kg
(n=26)
Obinutuzumabphase 2(n=20)
Ofatumumabphase 3(n=196)
Rituximab(n=110)
14
10.7
8
5.5
0
5
10
15
ORR [%]*
PFS
[months]Sources:
MOR208: Woyach et al., Blood 2014
MEDI-551: Forero-Torres et al. ASH 2013
Obinutuzumab: Cartron et al., Blood 2014
Ofatumumab: Byrd et al., NEJM 2014
Rituximab: Furman et al., NEJM 2014
*IWCLL Criteria: Hallek et al., 2008
[NR – not reported]
anti-CD19 MAbs anti-CD20 MAbs
NR
Response Rate
in evaluable patients*
n (%)
DLBCL
n=25
iNHL incl. FL
n=40
Overall Response (ORR) 9 (36%) 12 (30%)
Complete response (CR) 2 (8%) 5 (13%)
Partial response (PR) 7 (28%) 7 (18%)
Stable disease (SD) 5 (20%) 21 (53%)
*Investigator assessed
© MorphoSys AG, Company Update - May 2016 8
MOR208 in R/R NHL
Strong Single Agent Efficacy
Jurczak et al., Abstract #1528, ASH 2015
MOR208 in R/R NHL
Very Promising Duration of Response
© MorphoSys AG, Company Update - May 2016 9
* Includes follicular lymphoma and other indolent NHLs
DLBCL, diffuse large B-cell lymphoma; NHL, non-Hodgkin’s lymphoma. Jurczak et al., Abstract #1528, ASH 2015
0.0 5.0 10.0 15.0 20.0 25.0
Months
Pati
ents
wit
hCR o
rPR
Duration of response
DLBCL, n=9Indolent NHL,* n=12
Time to response, n=21
Ongoing response, n=9
DLBCL
Duration of Response:
Longest: 20 months+
12 months: 67%
MOR208
Comprehensive Clinical Development Plan
10© MorphoSys AG, Company Update - May 2016
Indication 2016 2017 2018
NHL
DLBCL
CLL
Phase 2
Phase 2/3
IIT: Investigator-initiated trial
L-MIND: MOR208 (12mg/kg) + lenalidomide; 2nd line R/R; N=80
B-MIND: Safety evaluation leading into anticipated pivotal study
MOR208 (12 mg/kg) + bendamustine vs.
rituximab + bendamustine; 2nd line R/R; N~320
COSMOS: MOR208 (12mg/kg) + combo partner; BTKi-failures
MOR208 (9mg/kg) + lenalidomide; R/R, naive & Richter’s Transformation
MOR208 + ibrutinib in ibrutinib failures
MOR208
(12 mg/kg); N=92
} N=80 (Ohio State Univ. IIT)
MOR202
A Novel Antibody for Multiple Myeloma
Fully human monoclonal HuCAL IgG1 antibody
Targeting a unique epitope of CD38
Inducing potent immune effector mechanisms
ADCC and ADCP
One of only three CD38 antibodies in clinical
development
Strongly synergistic with IMiDs and proteasome
inhibitors in pre-clinical models
© MorphoSys AG, Company Update - May 2016
ADCC = Antibody-Dependent Cell-Mediated Cytotoxicity; ADCP = Antibody-Dependent Cell-Mediated Phagocytosis;
CDC = Complement-Dependent cytotoxicity
11
MOR202
Preliminary Phase 1/2a Data
12
Raab et al, #3035, ASH 2015
© MorphoSys AG, Company Update - May 2016
Data from patients treated with the clinically relevant dose regimens who received > 1 treatment cycle.
Dex, dexamethasone; LEN, Lenalidomide; MR, minor response; POM, Pomalidomide; PD, progressive disease; PR, partial
response; q1w, weekly; SD, stable disease; VGPR, very good partial response.
SD
SD
SD
SD
SD
PD
PD
SD
0 10 20 30 40 50 60
Weeks
MOR202 q1w + Dex cohorts
4 mg/kg + Dex
8 mg/kg + Dex
16 mg/kg + Dex
8 mg/kg + POM/Dex
8 mg/kg + LEN/Dex
PR
PR
MR
PR
VGPR
PR
VGPR
Pati
ents
Tre
ate
d
Response recorded
Ongoing patients
Single agent MOR202:
ORR = 33%
MOR202 & IMiD combos:
Clinical benefit rate of 67%
MOR202: Excellent Clinical Safety &
Convenience
© MorphoSys AG, Company Update - May 2016 13
MOR202 shows best-in-class infusion tolerability & infusion duration
MOR202 Daratumumab Isatuximab
Infusion time 2 h
6.5 h
(1st infusion)
(3.5 h @ 3rd infusion)
4 - 6 h
Infusion reactions
(IRRs) with Steroids
6%
(Grade 1 only) 70-77% 52%
MOR202: Raab et al., ASH 2015
Daratumumab: Lokhorst et al., NEJM 2015
Isatuximab: Martin et al., ASH 2015
MOR202: Pre-clinical Data Suggest Advantage in
Durability of Response
© MorphoSys AG, Company Update - May 2016 14
MOR202 shows best-in-class difference between MM cell killing and NK cell preservation
0
10
20
30
40
50
MOR202 Daratumumab Isatuximab
% s
pecif
ic k
illing
CD38-expressing MM cell line
0
5
10
15
20
25
30
35
40
MOR202 Daratumumab Isatuximab
% s
pecif
ic N
K c
ell k
illing
CD38-expressing NK cells
Clinical Programs
from Partnered Discovery Alliances (I)
© MorphoSys AG, Company Update - May 2016 15
Program Partner Target Indication Phase 1 Phase 2 Phase 3
Bimagrumab Novartis ActRIIB sIBM (extension)
(BYM338) sIBM (long-term study)
Hip fracture surgery
Cachexia (COPD)
Sarcopenia (dose-ranging)
Sarcopenia (withdrawal extension study)
Guselkumab Janssen/J&J IL23p19 Psoriasis (VOYAGE 1)
(CNTO1959) Psoriasis (VOYAGE 2)
Psoriasis (NAVIGATE)
Pustular/Erythrodermic psoriasis
Moderate to severe plaque-type psoriasis
Palmoplantar pustulosis
Active psoriatic arthritis
Gantenerumab Roche Amyloid-ß Mild Alzheimer‘s disease
Prodromal Alzheimer‘s disease
Genetically predisposed
Safety, Tolerability, and Pharmacokinetics
Anetumab Ravtansine Bayer Mesothelin Mesothelioma (MPM)
(BAY94-9343) Solid tumors, with pemetrexed and cisplatin
Advanced malignancies (Japan)
Ovarian cancer, with doxorubicin
Solid tumors with hepatic/renal impairment
BHQ880 Novartis DKK-1 MM (renal insufficiency)
Smoldering MM
BPS804 Mereo/Novartis Sclerostin Osteoporosis
Hypophosphatasia (HPP)
Osteogenesis Imperfecta
CNTO3157 Janssen/J&J n.d. Asthma
Safety/Pharmacokinetic
CNTO6785 Janssen/J&J n.d. COPD
Rheumatoid arthritis
Clinical Programs
from Partnered Discovery Alliances (II)
© MorphoSys AG, Company Update - May 2016 16
Program Partner Target Indication Phase 1 Phase 2 Phase 3
LFG316 Novartis C5 Age-related geographic atrophy
Geographic atrophy (combo with CLG561)
Panuveitis
Paroxysmal nocturnal hemoglobinuria
Transplant Associated Microangiopathy (TAM)
LJM716 Novartis HER3 ESCC (combo with BYL719)HER2+ cancer (combo BYL719 & trastuzumab)
HER2+ cancer, combo with trastuzumab
Tarextumab Oncomed/GSK Notch 2 Small cell lung cancer (Pinnacle)
(OMP-59R5) Solid tumors
VAY736 Novartis BAFF-R Pemphigus vulgaris
Primary Sjögren‘s syndrome
Rheumatoid Arthritis
BAY1093884 Bayer TFPI Bleeding disorders
BI-836845 BI IGF-1 Solid tumors, Japanese patients
EGFR mutant NSCLC
Metastatic breast cancer
CRPC + enzalutamide
Advanced solid tumors
NOV-7 Novartis n.d. Eye disease
NOV-8 Novartis n.d. Inflammation
NOV-9 Novartis n.d. Diabetic eye disease
NOV-10 Novartis n.d. Cancer
NOV-11 Novartis n.d. Blood disorders
PF-05082566 Pfizer 4-1BB Advanced malignancies, with avelumabSolid tumors, NHL (+rituximab)
Solid tumors, with PD-1i MK-3475
Advanced solid tumors, with mogamulizumab
Solid tumors, with PF04518600 (OX-40)
Vantictumab Oncomed/Bayer Fzd 7 Solid tumors
(OMP-18R5) Metastatc breast cancer
Pancreatic cancer (combo)
NSCL
Guselkumab (CNTO1959)
A Janssen Anti-Inflammatory Program
© MorphoSys AG, Company Update - May 2016 17
Guselkumab
A HuCAL antibody specific for IL-23, does not bind IL-12
IL-23 blockade inhibits production of multiple cytokines
beyond IL-17A and preserves Th1 & Treg regulatory pathways
Being developed in psoriasis and psoriatic arthritis
Current Status
Six Phase 3 clinical trials ongoing
First Phase 3 data expected in 2016
Anticipated filing in 2016
Source: Jetten AM, Nucl Recept Signal, 2009
Guselkumab (CNTO1959)
Clinical Data
© MorphoSys AG, Company Update - May 2016 18
Highest levels of durable skin clearance with less intensive dosing regimens vs. anti-IL-17 class
Potential for similar safety profile vs. long-term blockade of IL-12 + 23 with STELARA®
Potential for long-term, drug-free efficacy
Data courtesy of Janssen
Anetumab Ravtansine (BAY94-9343)
A Bayer Anti-Cancer Program
© MorphoSys AG, Company Update - May 2016 19
Anetumab Ravtansine
ADC comprising
HuCAL anti-mesothelin G1 antibody conjugated to
potent maytansinoid tubulin inhibitor DM4
In development for mesothelioma & other solid cancers
Pre-clinic
Anetumab ravtansine potently inhibited growth of
human mesothelioma models in vivo
Phase 1
Anetumab ravtansine 6.5 mg/kg IV Q3W was well
tolerated and showed efficacy in patients with
previously treated mesothelioma
Phase 2
Started Q1, 2016
Second-line, malignant pleural mesothelioma
Estimated enrollment 210
Antibody-drug conjugate anti-tumor therapy
(A) General mechanism of action
(B) Structure of anetumab ravtansineData courtesy of Bayer Healthcare
Pipeline Set to Deliver a Lot of Clinical Data
© MorphoSys AG, Company Update - May 2016 20
Based on published information and MorphoSys estimates
PH
ASE 1
PH
ASE 2
PH
ASE 3
2016 2017
LFG316
Panuveitis
Guselkumab
Psoriasis (VOYAGE 2)
Guselkumab
Psoriasis (VOYAGE 1)
Guselkumab
Psoriasis (NAVIGATE)
LFG316
PNH
BI-836845
EGFR mutant NSCLC
BI-836845
Advanced solid tumors
Bimagrumab
Sarcopenia (dose ranging)
LJM716
ESCC + BYL716
Anetumab Ravtansine
Advanced malignancies
GuselkumabPustular/Erythrodermic Psoriasis
PF-05082566
Solid tumors + MK-3475
Guselkumab
Psoriatic Arthritis
VAY736
Pemphigus VulgarisVAY736Primary Sjögren‘s Syndrome (PD)
BI-836845
Metastatic breast cancer
Tarextumab
Small cell lung cancer
Bimagrumab
sIBM (extension)
BI-836845
CRPC + enzalutamide
BAY-1093884
Bleeding disorders
Bimagrumab
Hip fracture surgery
PF-05082566
NHL + rituximab
LJM716
+ trastuzumab
MOR208
CLL (IIT)
MOR208
DLBCL + lenalidomide
MOR103/GSK3196165
RA
MOR208
NHL
MOR209
Prostate cancer
MOR208
CLL + combo
MOR202
Multiple Myeloma
MOR202
Multiple Myeloma
Gantenerumab
Safety, Tolerability, & PK
Anetumab Ravtansine
Mesothelioma (MPM)
Anetumab Ravtansine
Solid tumors
LFG316
GA + CLG561
Anetumab Ravtansine
+ pemetrexed & cisplatin
LJM716
+ BYL716 + trastuzumab
LJM716
+ trastuzumab
PF-05082566Advanced solid tumors + avelumab
Bimagrumab
sIBM
Partnered Discovery Programs MOR Programs Outlicensed programs
MOR106
InflammationAnetumab RavtansineOvarian cancer + doxorubicin
Antibody library
Protein optimization
Lantipeptides
Powerful Technology Base Ensures Pipeline
Sustainability
© MorphoSys AG, Company Update - May 2016 21
Innovative Targets Proprietary Platforms
Differentiated
drug candidates
GPCRs, ion channels
Immune checkpoints
MHC-presented, tumor-associated peptides
Source of novel targets
Financial Guidance 2016
© MorphoSys AG, Company Update - May 2016
in EUR million 2015A Q1 2016Guidance
2016
Group Revenues 106.2 12.1 47 to 52
Proprietary R&D Expenses
(incl. Technology Development)56.6 14.6 76 to 83
EBIT 17.2 -9.7 -58 to -68
Cash, cash equivalents & marketable securities
as well as other short-term and long-term financial assets298.4 287.0
22
Coming Up
© MorphoSys AG, Company Update - May 2016 23
Bimagrumab sIBM Data from pivotal trial and regulatory filing expected
Guselkumab Psoriasis Data from 3 pivotal trials and regulatory filing expected
MOR208
DLBCL
Phase 2 lenalidomide combo trial L-MIND starts
Phase 2 bendamustine combo trial B-MIND:
Safety evaluation to start mid 2016
Pivotal study planned for 2017
CLL Phase 2 idelalisib combo trial in planning
MOR202 MM Updated data from phase 1/2a trial at ASCO 2016
MOR209 Prostate cancerContinuation of phase 1 trial under amended protocol, clinical data
in 2017
MOR106 Inflammation Start of phase 1 with Galapagos in H1 2016
MOR107 Fibrosis Start of phase 1 in Q4 2016
MOR103 Osteoarthritis
RA
Start of phase 1b/2a in osteoarthritis of the hand
Data from the phase 2b in RA in 2017
Pipeline Up to 5 new program starts
Around 5 clinical milestones
MOR103/GSK3196165
Anti-inflammatory Program Licensed to GSK
© MorphoSys AG, Company Update - May 2016 25
MOR103/GSK3196165
HuCAL antibody specific for GM-CSF
GM-CSF is important in every step of macrophage
production and infiltration in the tissues
Good magnitude of effect with fast onset of action and
long duration post treatment
Effect size appears similar to or greater than anti-TNF
Targeting the macrophage in early RA
Potential for early use to induce remission
Indications
Lead indication: Rheumatoid arthritis (RA)
Potential for disease modification & analgesic activity in
hand osteoarthritis (HOA)
Current Status
BAROQUE (RA phase 2b) ongoing
Initial clinical read-out 2016
Phase 2 in hand osteoarthritis to start in 2016
0
20
40
60
80
Placebo 0.3 mg/kg 1.0 mg/kg 1.5 mg/kg
% EULAR good/moderate response at 4 weeks: Rapid onset of action
Week 4 Week 6 Week 8
% E
ULAR r
esp
onse
Phase Ib/IIa study, n=96
Behrens, et al. Ann Rheum Dis. 2015;74:1058-64
MOR209/ES414
A Novel Bi-specific Antibody for Prostate Cancer
© MorphoSys AG, Company Update - May 2016 26
Co-development Agreement with Emergent BioSolutions
Phase 1 clinical trial in mCRPC patients was started in March of 2015
Restructured Agreement with
Emergent BioSolutions
Adjustment of dosing regimen
and administration
Reduction of MorphoSys’s cost
sharing and reduced milestone
payments
Clinical development will continue in 2016 under an adapted clinical development plan.
Covering Analysts
© MorphoSys AG, Company Update - May 2016 27
Institution Contact
Baader Helvea Dr. Bruno Bulic
Commerzbank Mr. Daniel Wendorff
Deutsche Bank Mr. Gunnar Romer
Edison Mr. Maxim Jacobs
Goldman Sachs Mr. Keyur Parekh
Independent Research GmbH Mr. Bernhard Weininger
J.P. Morgan Cazenove Mr. James Gordon
Kempen & Co. Mr. Sachin Soni / Mr. Mark Pospisilik
Landesbank Baden-Württemberg Mr. Timo Kürschner
Oddo Seydler Mr. Igor Kim
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.
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Phone +49 (0)89 / 899 27-404
Fax +49 (0)89 / 899 27-5404
Email investors@morphosys.com
Thank You
www.morphosys.com
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