Better Vacines to Better the World - Kenneth Kelley

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TBLI CONFERENCE™ EUROPE 2012 - Zurich - Switzerland

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Better Vacines to Better the World - Kenneth Kelley

  1. 1. Better Vaccines to Better the WorldKen Kelley, Founder and CEO November 5, 2012
  2. 2. Agenda Global Health •  PaxVax founding Private Equity •  Cholera Vaccineand Debt •  InvestmentConfidential PaxVax TBLI Slide 2
  3. 3. Vision and Values “Ideal” Company “Ideal” Vaccine Profitable Safe and efficacious Social benefit Self-administered Environmentally sound Single dose No needle/syringe Serves its Communities No doctor/no nurse Sustainable Low COGs Spurs industry change Quick to manufacture Easy to scale No refrigerationConfidential PaxVax TBLI Slide 3
  4. 4. Cholera Vaccine Needs•  Cholera  found  in  Africa  and  Asia   –  Es2mated  3-­‐5  M  cases;  120  K  deaths/year  •  Disease  caused  by  V.  cholerae  in  water   –  Toxin  in  intes2ne  causes  severe  diarrhoea   and  rapid  death  if  not  rehydrated  •  Travelers  market  $250+  Million   –  10  M  travel  U.S./E.U.  to  endemic  regions     –  No  vaccine  available  in  U.S.  •  Endemic  market  $50+  M  to  $2  B   –  Compe2tor  2  dose  products  not  feasible   Confidential Confidential PaxVax TBLI Slide 4
  5. 5. Our  Cholera  Solu2on   •  Dual  use  vaccine     –  Travelers  and  Epidemics   •  Op2mal  proper2es   –  Single  dose   –  Oral     –  Protects  within  a  week   –  Affordable   •  Previously  sold  as  Orochol   –  CVD103-­‐HgR  Confidential PaxVax TBLI Slide 5
  6. 6. Development  Timeline   2013 2014 2015 Process Development – Fermentation/Yield Process Development – Formulation - SPRINKLES Phase 1Gen2 CTM mfg Endemic10^9 dose for CTM Mfg Phase 3 Endemicdeveloping world Pediatric StudyGen1 Ph3 Lot to Lot Clinical10^8 dose for Manufacturing consistencydeveloped world 10 day & 3 mo Regulatory challenge (pivotal) CTM mfg Stability BLA filed in US, BLA BLA approval in CA, ANZ, EU approval in CA, ANZ, EU US Confidential Slide 6 PaxVax TBLI
  7. 7. Triple Bottom Lines Social Financial Return Environmental Return Cholera Cholera Return IRR Cases Deaths •  Travelers Averted Averted •  US drives value MinimalGen 1 •  High price 37% 20k 400 Packaging •  Low volume •  Epidemics •  Stockpile NoGen 2 drives value 8% 4.3m 200k Packaging •  Low price •  High volume IRR is Cases averted and No calculated lives saved are in competitor to post-tax the first ten years compareConfidential PaxVax TBLI Slide 7
  8. 8. Financing Mechanisms Returns High Financial Both High Social Low Social Low Financial Project Cholera Gen1 Cholera Gen2 HIV Dengue Travelers H5N1 Pandemic Anthrax Flu Polio Supporter Ignition Ventures Wellcome Trust U.S. Government Gates Foundation Form of $ invested Equity Debt low interest Grants Financial returns +++ + -100% Social Returns 0 + +++Confidential PaxVax TBLI Slide 8
  9. 9. Snapshot for Investment•  Team: –  Team of 50, 3 science chiefs, and 3 Sabin Medalists•  Impact investors: –  Wellcome Trust, Ignition Ventures & Capital•  Capital efficiency: –  $36 M investment; >$50 M R&D contracts•  Vaccine portfolio –  Cholera in Phase 3, followed by H5N1, HIV, anthrax•  Current opportunities to invest: –  Company - Ser C equity –  Gen2 cholera – convertible debt –  HIV, malaria, TB - philanthropyConfidential PaxVax TBLI Slide 9
  10. 10. Better Vaccines to Better the World www.paxvax.com kkelley@paxvax.com

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