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Silence Therapeutics Unaudited Preliminary Results 2011

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Silence Therapeutics Unaudited Preliminary Results 2011 - March 2012.
Featuring 2011 Highlights, an overview of Silence's performance and products, and an analysis of the commercial landscape of the field of RNAi.

Published in: Business, Health & Medicine
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Silence Therapeutics Unaudited Preliminary Results 2011

  1. 1. Unaudited Preliminary Results 201121 March 2012
  2. 2. New Team members with Proven Track Record of building valueFor shareholders – Anthony Sedgwick, Ph.D., Chief Executive Officer ( Biotech Entrepreneur Novacta, Daniolabs, Cambridge Biotechnology, Roche) – George Büchner, Ph.D., Head of Business development (Novacta, Haptogen, Pharma Ventures) 2
  3. 3. 2011 Highlights – Positive interim data presented at ASCO – Data showed excellent safety and indications of potential efficacy – Leadership position validated by three new partnerships – Top 10 pharma company, InteRNA Technologies and miRNA Therapeutics – Further deal signed with miRagen Inc in January 2012 – Positive clinical results from partners – Quark and Pfizer positive Phase II results in diabetic macular oedema – Organisation streamlined – Californian facility was closed, Board membership reduced – Enhanced commercial focus – New business development team recruited – Intellectual property strengthened – PKN3 patent issued in Japan, Zamore re-issued in US, Tuschl I clarified (Europe) – Fundraising of £5.51m (net of expenses) in May 2011 – To fund development of pipeline and investment in RNAi technology platform 3
  4. 4. 2011 Post year-end Highlights – Dr Tony Sedgwick was promoted to Chief Executive Officer – Deal announced with miRagen Therapeutics for the delivery of microRNAs using the DBTC liver delivery systems – Silences second deal on DBTC and third for microRNAs – Creation of a Scientific Advisory Board – Two Key Opinion Leaders in the area of liver disease –announced today 4
  5. 5. RNAi – James Watsons vision 2012 5
  6. 6. An Overview of Silence Therapeutics • European Biotechnology Company • Listed on LSE (AIM) with operations centralised in Berlin • Cutting Edge technology- RNAi (Ribose Nucleic acid Interference) • Experienced New Management Tony Sedgwick CEO –Geo Buchner Business Several value drivers: • External Milestones and Royalties (Quark) • Internal Phase I First in Class Cancer Therapy (To be completed mid-2012) • Low cost preclinical Pipeline • Strong IP (e.g. AtuRNAi, Licenses to Fire & Mello and Zamore Patents) • One of only 2 companies with prosecuted patents in area 6
  7. 7. What is RNAi Transformative technology 7
  8. 8. RNAi can “Silence” Undruggable problem genes 22,000 genes Human Genome At the origin of numerous diseases The RNAi technology can target ALL OF THEM Targets that can be Stabilised AtuRNAi blocked by small Naked can target All molecule drugs or Genes antibodies 8
  9. 9. Two value drivers: External and Internal 9
  10. 10. Potential External revenue streams Novartis Pfizer Pfizer/Quark Novartis/Quark$3-11 million $4 million $85 million $71-77 million 2012 2014 Remaining milestones Total milestone potential: approx $170 million PLUS further potential milestone payments from the AstraZeneca collaborations 10
  11. 11. Commercial landscape:Delivering the great promise of RNAi Delivery Development of challenges successful delivery Identified solutions siRNA technology trigger 11
  12. 12. And Internal value drivers… 12
  13. 13. Silences AtuRNAi plus Disease “bespoke”delivery system makes a drug 13
  14. 14. Atu027: New Cancer treatment in Phase I • Atu027 ‘silences’ the production of PKN3 a Key regulator of blood and lymph vessel formation • Inhibition of PKN3 leads to: • reduced oxygen supply to tumour • reduced tumour growth/metastases 14
  15. 15. Atu027 is RNAi against PKN3 plus Atuplex 15
  16. 16. Atu027: successfully progressed to a phase I Investment 16
  17. 17. Atu027 is safe in man and could be a newmedicine for treating difficult cancers • Atu027 Phase I interim data demonstrates safety (ASCO 2011) • 10 out of 27 patients showed stable disease after treatment period • Atu027 very well tolerated - effective dose exceeded • Phase I results expected to report in mid-2012 • Biomarker data currently under evaluation • Looking for Co development partner • Validates AtuPLEX™ delivery technology 17
  18. 18. AtuRNAi plus DACC system makes a drug for treatinglung Cancer and life threatening lung disease 18
  19. 19. Silence´s DACC delivery system: targets siRNAs to the lungs • Address lung-specific diseases e.g. acute lunG injury/ARDS/Cancer by delivering siRNA primarily to the lungs • Single dose sufficient to inhibit target gene • Expression in the lungs for up to a month • Atu111 in preclinical 19
  20. 20. AtuRNAi plus DBTC system makes a drug for treatingliver Cancer and life threatening liver disease 20
  21. 21. Silence´s DBTC: targets siRNAs to the liver • Address liver-specific diseases e.g. HCC, ischemia reperfusion injury • Single dose inhibits gene expression in the liver for up to 1 week • Well tolerated (up to 8.3 mg/kg) • Preclinical studies ongoing 21
  22. 22. Silence’s Revenue Stream 22
  23. 23. Two value drivers: External and Internal 23
  24. 24. Silence Power………………….• New Management with proven track record• Cutting Edge technology• First in Class RNAi new cancer therapy• One of only two companies with Prosecuted patents in area• Lean organisation• Pipeline of drugs and deals• Undervalued 24
  25. 25. Results for 2011 GBP ‘000s 2011 2010 unaudited audited Revenue 694 2,366 R&D spend (3,361) (5,821) Admin costs (2,647) (5,203) Restructuring costs (472) - Operating loss (5,786) (8,658) Other income/(expense) 49 (137) Loss after tax (5,737) (8,795) Net cash 3,688 3,567 25
  26. 26. Newsflow 2012 Update on AstraZeneca collaboration January 2012 Sign delivery collaboration with miRagen January 2012 Start of Phase IIb trial of PF’-655 in DME (Quark/Pfizer) 1Q 2012 Sign further collaboration agreements 1H 2012 Completion of enrolment in Atu027 trial 1H 2012 Start of Phase II trial of QPI-1002 in AKI (Quark/Novartis) 1H 2012 Publication of white paper on delivery technologies 1H 2012 Completion of Atu027 phase I trial Mid 2012 Completion of phase II trial of QPI-1002 delayed graft function 2H 2012 Start of phase Ib/II trial of Atu027 2H 2012 Further patent issuances 2H 2012 26
  27. 27. Disclaimer The statements made in this presentation may contain certain forward-looking comments. Actual events or results may differ from the Company’s expectations. In addition to the matters described in the presentation, future actions by the European Agency for Evaluation of Medicinal Products, the U.S. Food and Drug Administration or equivalent regulatory authorities in other countries and results of pending or future clinical trials, as well as other risk factors outlined from time to time in the Company’s regulatory filings, may affect actual results achieved by the Company. The Alternative Investment Market (AIM) has not reviewed and does not accept responsibility for the adequacy or accuracy of this presentation. 27
  28. 28. Key peers 28

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