Date post: | 05-Apr-2018 |
Category: |
Documents |
Upload: | vuonghuong |
View: | 217 times |
Download: | 2 times |
00494/CF
Company introduction
Dr Carl Firth, Chairman & CEO
Chih-Yi Hsieh MD, GM Taiwan
April 2017
00494/CF
DISCLAIMER
2 CONFIDENTIAL
All materials and information set out herein are for reference only and whilst we make every effort to ensure accuracy and completeness, we cannot guarantee this. We make no recommendation as to the competence or suitability of persons or entities referenced herein (if any). Nothing herein constitutes an invitation or offer to invest in or deal in the securities of ASLAN. Anyone considering investment in ASLAN should refer to the information officially published the Taiwan Stock Exchange Market Observation System (MOPS). All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. Readers are cautioned not to place undue reliance on such forward-looking statements, which are inherently unreliable, and you should not rely on them. Any such forward-looking statement will have been based on ASLAN’s expectations, assumptions, estimates and projections about future events on the date(s) made. Actual outcomes are subject to numerous risks and uncertainties, many of which relate to factors beyond ASLAN’s control, that could cause them to differ materially from those expressed in a forward-looking statement. ASLAN has no obligation to update or otherwise revise any forward-looking statements to reflect the occurrence of unanticipated events or for any other reason.
00494/CF
Biotech focused on immuno-oncology and other targeted therapies in Asia prevalent tumours
3
Focus on Asia-prevalent tumourseg Gastric, biliary tract, liver
Proprietary pipeline of 5 drugs Lead in pivotal studies
Partnerships with world-leading pharma and biotechsIncluding BMS, CSL, Almirall
Led by clinical development veterans With global pharma experience
Strong cash positionUS$100M raised since inception and over US$10M revenues
Planning to list on Taipei ExchangeApproved by TPEx Board in January 2017
00494/CF
Company introduction
1. Company overview
2. Our portfolio
3. Financials
4. Comparable companies
5. Future milestones
4
00494/CF
1. COMPANY OVERVIEW
5
00494/CF
ASLAN is a Cayman company, with Singapore operating company and subsidiaries in Taiwan, Australia, China
6
ASLAN Taiwan
CO
MP
AN
YO
VER
VIE
W
ASLAN HK
ASLAN (Singapore)
Major team supporting clinical development and investor relations.
• Corporate HQ• Primary operating Co.
Local manufacturing and development activities.
ASLAN (Cayman) • Listco
ASLAN Australia
• Incorporation: Singapore (2010), Taiwan (2013), Cayman (2014), Australia (2014), China (2016)• Paid-in Capital: NT$ 1,157M (2016 Q3)• Chairman: Dr Carl Firth• Funding: Over US$ 100M raised in 5 rounds of fundraising• Address: Singapore: 83 Clemenceau Avenue, UE Square #12-03, Singapore 239920
Taiwan: 32F Int’l Trade Building Sec 1, 333 Keelung Rd., Taipei 11012, Taiwan
ASLAN China
00494/CF
Focus on tumour types that are prevalent in Asia, and are orphan diseases in the West
CO
MP
AN
YO
VER
VIE
W
• Studies are run in Asia where the majority of patients are
• Data is leveraged for approvals in US, EU and other global markets where often these are orphan diseases
• Few – if any – approved therapies for these indications
7
Patients in US Patients in Asia8,000 Biliary tract cancer (BTC) 220,000
32,000 Gastric cancer 1,200,00027,000 Hepatocellular carcinoma 482,00021,000 Esophageal cancer 340,00047,000 Cervical cancer 807,000
00494/CF
Our business modelC
OM
PA
NY
OV
ERV
IEW
ASLAN is new drug development biotech company, fully responsible for the development and commercialisation of our drugs.
8
We retain rights to selected Asian countries & US to retain long-term value, partner elsewhere to generate near term licensing revenues
Short termLicensing revenues (upfronts, milestones)
Medium termSales in fast to market indications (Asia prevalent, orphan in West)
Long termGlobal indications (like breast or CRC)
Discovery Clinical Commercial
Inlicense from companies
Discover proprietary drugs through collaborations
Outlicense to pharma in selected territories
ASLAN commercialises in selected Asian territories
ASLAN runs clinical development and manufacturing
CROs CMOs
Outsourcing
00494/CF
Developing drugs throughout Asia and beyondC
OM
PA
NY
OV
ERV
IEW
9
ASLAN offices
Other countries where we operate
ASLAN
Singapore
ASLAN
Taiwan
ASLAN
China
New Zealand
HK
South Korea
Japan
Philippines
US
Australia
00494/CF
Key milestonesC
OM
PA
NY
OV
ERV
IEW
10
0
20
40
60
80
100
120
2010 2011 2012 2013 2014 2015 2016 2017
Capital raised (US$)
InlicensedASLAN001
InlicensedASLAN002
InlicensedASLAN003
InlicensedASLAN004
InlicensedASLAN005
InlicensedModybodies
OutlicensedASLAN001
(Korea)
OutlicensedASLAN002
(Global)
Orphan status granted for CCA
Orphan status granted for GA
US$100M raised since inception
00494/CF
Over 20 years each in pharma and biotech.
Participated in development of many blockbusters.
Highly experienced team with global pharmaceutical experience
11
CO
MP
AN
YO
VER
VIE
W Position Experience
Dr Carl FirthCEO Head of New Portfolio (China)
Head of BD (Asia)Head of Asia Healthcare Banking
Dr Bertil LindmarkCMO Head of Development, R&I
Head of Development, JapanGlobal Head of R&DCSO
Dr Mark McHaleCOO Head of Molecular Sciences, R&I
Head of early asthma portfolio
Jeff TomlinsonCBO
Ben GoodgerGeneral Counsel
Senior partner and head of IP Partner
Kiran AsarpotaVP of Finance
Group finance director
Chih-Yi HsiehGM Taiwan, VP Medical
Medical advisor Oncologist, Taipei VGH
00494/CF
Scientific advisory board with world-renowned experts in oncology
12
CO
MP
AN
YO
VER
VIE
W Position Experience
Sir David LaneChairman Chief Scientist
Head of P53 research instituteFounder and CEO
Professor Patrick TanProfessor Associate director
Dr Yong Wei PengSenior consultant Adjunct Senior Research Fellow
Dr Matthew Ng
Medical oncologist Deputy director
00494/CF
International shareholder base with strong backing from institutions
CO
MP
AN
YO
VER
VIE
W
Management and employee holdings represent 20% of issued share capital (fully diluted)
13
Taiwan Institutional
Foreign Institutional
Others
Management & Employee
63%
23%
7% 7%
00494/CF
Over US$100M raised to date from investors in Asia and the US
CO
MP
AN
YO
VER
VIE
W
14
United StatesJapan
Singapore
Taiwan
HK
China
(Temasek subsidiary)
(Merck invested fund)
00494/CF
2. OUR PORTFOLIO
15
00494/CF
Rich pipeline with 5 drugs in the portfolio, 3 in clinic
16
Program Target Indication Disc PC Ph 1 Ph 2 Ph 3 Originator
Varlitinib/ASLAN001
panHERGrowth pathway inhibitor
BTC
Gastric cancer
Breast cancer
Colorectal cancer
ASLAN002 MET/RONImmune checkpoint inhibitor
Solid tumours
ASLAN003 DHODHMetabolic stress inducer via p53
AML,Solid tumours
ASLAN004IL4/13Macrophage anti-tumour enhancer
Asthma, Solid tumours
ASLAN005 RONImmune checkpoint inhibitor
Solid tumours
ModybodiesmAb fragments3 IO targets(targets not disclosed)
Oncology
OU
RP
OR
TFO
LIO
BMS acquired global rights in 2016
Our therapies target biomarker-defined subsets of disease, focusing on patients most likely to respond.
Pro
pri
etar
yPo
rtfo
lio
00494/CF
Overview of varlitinib (ASLAN001)V
AR
LITI
NIB • Small molecule based reversible pan-HER inhibitor with balanced
inhibition across all HER receptors
• Global rights (all indications) licensed from Array BioPharma
• Studied in over 300 patients to date, with good tolerability and demonstrated efficacy in BTC, gastric, breast, CRC
• Orphan status approved for CCA1 and GC by US FDA
• Korean rights licensed to Hyundai Pharmaceuticals in 2015
• Strong IP protection including composition of matter in major territories
17
Program Indication PC Ph 1 Ph 2 Ph 3 Positioning
Varlitinib(ASLAN001)
BTC First in class
Gastric cancer First in class
Breast cancer Best in class
Colorectal cancer First in class
1 CCA (cholangiocarcinoma) is a major subset of BTC
00494/CF
Varlitinib has the potential to block tumour growth in a wide range of tumours
VA
RLI
TIN
IB
• The HER family of receptors is responsible for driving growth in many tumours
• Many approved drugs target these receptors
• HER-selective drugs such as Herceptin target only one type of HER receptor (HER2)
• They are effective in certain patient subsets that are driven specifically by HER2
• However, blocking just one of these receptors is ineffective for the majority of patients
• Many of these are driven by combinations of HER1, HER2 , HER3 and HER4
• Varlitinib is a pan-HER inhibitor and blocks all of these receptors, shutting down growth in a much broader range of tumours
18
Downstream signalling leading to growth and proliferation
Downstream signalling blocked.No growth / proliferation
HERCEPTIN
HERCEPTIN
Downstream signalling blocked. No growth / proliferation
VARLITINIB
HER
2H
ER2
HER
1
HER
3
HER
4
00494/CF
-0%
-21%
-29%
-41%-47%
49%
33%
5%
-0%-4%
-11%-16%
-37%
-65%
-87%
12% 10% 10%
-4%-7%
-13%
-48%
-69%
29%
2% 0%
-4% -4%
-19%
-27%
(100%)
(80%)
(60%)
(40%)
(20%)
0%
20%
40%
60%
VA
RLI
TIN
IB
19
Max
imu
m t
um
ou
rsh
rin
kage
(%
)
GastricBTCColorectalOther
• All patients received 300-500mg varlitinib and platinum containing doublet chemo
• Most patients had received at least 2 prior treatments, including Herceptin, Kadcylaand chemotherapy. Some patients had as many as 13 prior treatments
• Not all patients have completed 4 cycles of therapy
• 30 patients*: 7 PR, 20 SD, 3 PD (23% response rate, 90% disease control)
* Excludes non-evaluable patients** This BTC patient did not have measurable lesions, but declared SD by investigator based on non-measurable tumour mass*** This GC patient did not have measurable lesions, but declared SD by investigator based on non-measurable tumour mass
** ***
Impressive responses in difficult to treat tumours
00494/CF
Varlitinib demonstrated greater tumour shrinkage in 2nd line HER2+ mBC compared to lapatinib
VA
RLI
TIN
IB
• Multinational, randomised, open-label phase 2 study
• Significantly greater tumour shrinkage at week 12 in patients who were on therapy for more than a month (p=0.075)
– 36.4% for patients on varlitinib vs 17.8% for patients on lapatinib
• Not powered for ORR, however patients dosed with varlitinib showed higher ORR compared to patients on lapatinib (60% versus 46%).
• No differences in progression-free survival (PFS) or overall survival (OS)
• Adverse events included nausea, vomiting and diarrhoea, and occurred at similar frequency in both arms
– Incidence of grade 3 diarrhoea was 12% on varlitinib, clinically manageable
– No instances of grade 4 diarrhoea. No anti-diarrhoea prophylaxis required
• We also have studies ongoing in neoadjuvant BC and BC with brain metastasis
20
2nd line BC patients(HER2+)
varlitinib + capecitabine
lapatinib + capecitabine
50 patients enrolledPrimary endpoint: ORRSecondary endpoints: PFS
00494/CF
Biliary tract cancerV
AR
LITI
NIB • No approved treatment options
• Two year survival less than 10%
• Over 70% of BTC cancers express one or more HER family receptors
• Current treatment practice:
21
Biliary tractcancer
Chemo (gem/cis)
First line
Chemo (cap)
Second line
Varlitinib target patients
0
50
100
150
200
250
300
350
US Japan China EU Rest of World Other Asia
Mar
ket
size
(U
S$M
)
Treatment duration of approximately 9 to 12 months. Pricing based on international comparables, taking into account specific pricing factors for each region/country
Global market size: US$ 1,400M
00494/CF
Biliary tract cancer – ongoing studiesV
AR
LITI
NIB
• Orphan drug designation approved by FDA in 2015
• Phase 3 (pivotal) study design agreed with FDA in 2nd line BTC– Double blind randomised placebo controlled
• Also running 1st line BTC study and 2nd line monotherapy study
22
2nd line BTC patients
varlitinib + capecitabine
capecitabine
120 patientsPrimary endpoint: ORRSecondary endpoints: PFS, OS
Comparables: Senhwa BiosciencesSenhwa, a Taiwan listed biotech, is developing their lead asset in BTCCurrent market cap: USD401M (as of 30 Mar 17)
00494/CF
Gastric cancerV
AR
LITI
NIB • Fourth most common cancer in the world behind
lung, breast, prostate
• Most common cause of cancer death in Asia
23
MetastaticGastric Cancer
HER2 amp (10%) Herceptin + doublet chemo
Doublet chemo
Doublet chemo
Varlitinibtarget patients
First line
HER1/HER2 (40%)
HER1-/HER2-
0
100
200
300
400
500
600
700
800
900
EU China US Rest of World Japan Other Asia
Mar
ket
size
(U
S$M
)
Treatment duration of approximately 9 to 12 months. Pricing based on international comparables, taking into account specific pricing factors for each region/country
Global market size: US$ 3,000M
00494/CF
Gastric cancer – ongoing studiesV
AR
LITI
NIB
• Orphan drug designation granted by US FDA in 2016
• In phase 2A study, we demonstrated varlitinib stops tumour cells growing in 3rd line HER1/HER2 co-expressing gastric cancer patients
• Moving into phase 2/3 study that has the potential to be pivotal
– Double blind randomised placebo controlled
24
1st line GC patients
(HER1/HER2)
varlitinib + doublet chemo
doublet chemo
Primary endpoint: OSSecondary endpoints: PFS, ORR
Comparables: Ganymed acquired for USD 1.4 bn by Astellas in 2016Ganymed, a privately held EU biotech, recently completed phase 2 in gastric cancer with experimental drug IMAB362.
00494/CF
ASLAN003 is a key inhibitor of cancer metabolismA
SLA
N0
03
25
ASLAN003 is a best in class DHODH inhibitor currently in phase 1/2
• Acute Myeloid Leukaemia (AML) – in 2016, a group at Harvard showed the critical role of DHODH inhibitors inducing differentiation of AML blast cells
• HCC and other solid tumours – when combined with an inducer of synthetic lethality leads to significant therapeutic effects
Mechanism of actionDHODH is an enzyme in the mitochondria responsible for pyrimidine synthesis, one of the building blocks of DNA
ASLAN003
ATP depletion DNA damage
Pyrimidinedepletion
Impaired DNAdamage response
Increase in P53
Apoptosis(cell death)
00494/CF
3. FINANCIALS
26
00494/CF
OfferingFI
NA
NC
IALS
• Current shares 115,670,940
• IPO share issuance 14,458,000
• Estimated date of IPO 2Q 2017
27
Financial overview
• FY16 revenue of US$11.5M
• Cash balance of US$51.7M as of FY 16
• BVPS of US$0.36 as of FY16
00494/CF
In-licensing: global rights for 5 drugs acquiredFI
NA
NC
IALS Drug Scope Upfront Deal terms
ASLAN001ASLAN004
Global Zero ASLAN pays portion of downstream revenues
ASLAN002 Re-acquired by BMS in 2016
ASLAN003ASLAN005
Global Minimal* ASLAN pays milestones and royalties on sales
28
Why do companies out-license early stage assets for zero upfront rather than developing themselves?
• Many of these licensors have limited presence in Asia and cannot easily develop for Asia prevalent disease
• Changes in strategy can lead to a licensor exiting a therapeutic area
• They believe in the future value of the asset, so they prefer a share of future revenues rather than an upfront payment
* Less than USD 100k
00494/CF
In-licensing: comparable deal structures for ASLAN001 and ASLAN004
FIN
AN
CIA
LS
29
Date Product Originator Licensor Revenue split Other terms
Jan 17 TAK935 50 : 50
May 13 ARRY380 50 : 50 Upfront of US$10M
Jan 17KTE-C19 andadditional products
4 40 : 60Upfront of US$40M,US$20M in initial funding for the JV
Jan 08 Mipomersen 30 : 70
Upfront of US$175M, US$150M investment
Will reach 50/50 on a slidingscale as annual revenues ramp up to US$2B
Nov 11 PRT062607 25 : 75Upfront of US$36M, US$9M investment
Deal terms for other comparable deals with revenue split:
00494/CF
In-licensing: comparable deal structures for ASLAN003 and ASLAN005
FIN
AN
CIA
LS ASLAN005 was in preclinical and ASLAN003 in phase 1 at the time of inlicensing. Deal terms for other comparable deals at preclinical and phase 2:
30 Source: LES USA/Canada – Global ‘Life Sciences’ Royalty Rates & Deal Terms Survey, 2014
Discovery Preclinical Phase 1 Phase 2
ASLAN005* ASLAN003*
US$30M development milestonesUS$35M sales milestones6-8% royalties
US$125M development milestonesUS$135M sales milestones10-14% royalties
00494/CF
Outlicensing: two deals completed: global & regionalFI
NA
NC
IALS
31
BMS exercised buyback option in 2016 in deal worth over US$ 100M
• Potent, first-in-class small molecule inhibitor of cMET and RON, an immune checkpoint inhibitor licensed from BMS
• ASLAN successfully completed a phase 1 clinical study, a manufacturing campaign and several preclinical studies elucidating the role of RON as a novel immune checkpoint inhibitor
• BMS bought the drug back in July 2016 on the following terms:
– Upfront US$ 10M (paid in July)
– Milestones Over US$ 50M
– Royalties on global sales
Varlitinib licensed to Hyundai in Korea 2015
• Upfront and development milestones US$ 4.5M
• Royalties on sales and sales milestones
00494/CF
Outlicensing: future comparable dealsFI
NA
NC
IALS We plan to partner in Japan, Europe and China to maximise the value of
our drugs in those markets.
Average upfront payments to acquire phase 2 or phase 3 oncology drugs:
32
0 5 10 15 20 25 30 35 40 45
Japan
Europe
China
Average upfront (M US$)
Source: Global Data, with average upfronts calculated over a dataset spanning 12 years (2004 to 2016)
00494/CF
4. COMPARABLE COMPANIES
33
00494/CF
Market cap (in NT$ B) 47.5 18.9 12.1 35.6 24.6 —
Full-year revenues at IPO (NT$ 000) 0 0 0 11,589 320,053 373,018
2016 revenues (NT$ 000) 92,422 146,021 128 5,473 1,134,782 373,018
Most advanced drug phase Phase 3 Marketed Phase 1/2 Phase 3 Marketed Phase 3
Number of drugs in portfolio 5 3 3 3 3 5
% of international investors 5% 2% — 0% 4% 70%
Number of partnerships with big pharma 1 0 0 0 0 3
Price / Book (Trailing 12 months) 8.2x 26.2x 24.4x 7.9x 6.5x 7.6x1
R&D (NT $000)2 648,157 401,438 188,067 713,615 194,760 425,296
OPEX (NT$ 000)2 1,063,218 489,345 239,348 831,387 324,656 650,017
ASLAN has no directly comparable company in TaiwanC
OM
PA
RA
BLE
CO
MP
AN
IES We are the only company to have significant revenues, a lead drug in
phase 3 studies, an international shareholder base and deals with big pharma
34
Source: CapitalIQ, IPO prospectuses and company financial statements; market data as of 27 Mar 171 Calculated using a base price of NT$88 and book value of NT$11.6 for FY162 All numbers from FY 2015 except for PharmaEngine and ASLAN
00494/CF
ASLAN is comparable to its international peersC
OM
PA
RA
BLE
CO
MP
AN
IES
35
Market cap (in US$ B) 1.5 2.9 1.4 8.1 2.4 —
Full-year revenues at IPO (in US$ 000) 13,035 — — — 87,329 11,547
Revenues for FY 16 (in US$ 000) 1,070 78 — 44,823 216,080 11,547
Most advanced drug phase Phase 3 Phase 3 Phase 3 Market Market Phase 3
Number of drugs in portfolio 4 3 2 2 7 5
Number of partnerships with big pharma 1 2 1 1 2 3
OPEX (US$M) 118 373 277 416 263 20
Similar to companies in our peer group, we have a lead drug in Phase 3, partnerships with big pharma and a diversified pipeline. We have also generated significant revenues pre-IPO
Source: CapitalIQ, IPO prospectuses and company financial statements
00494/CF
5. FUTURE MILESTONES
36
00494/CF
Major milestones
37
FUTU
RE
MIL
ESTO
NES Project 2017 2018
Varlitinib • Initiation of phase 3 in BTC (2nd line)• Initiation of phase 2/3 in GC (1st line)• Interim readout of ph 1B/2 in BTC (1st line)• Potential partnering deal
• Phase 2 readout in GC• Phase 2 readout in BTC• Potential partnering deal
ASLAN003 • Initiation of phase 1/2 in AML • Phase 1/2 readout in AML
ASLAN004 • Preclinical GLP tox • Phase 1
ASLAN005 • Preclinical GLP tox
00494/CF
SUM
MA
RY
ASLAN is uniquely different to other Asian biotechs
38
• Pharmaceutical company veterans with experience taking drugs from the lab, through development and into global markets
Experienced, professional team from the industry
• Proven track record of inlicensing 5 drugs from top biotech, pharma companies and world-leading institutions
• Outlicensing revenues over USD 11M in 2016
Proven ability to acquire and outlicense drugs with blockbuster potential
• Deep understanding of the patient segments and which patients should be targeted
Deep understanding of Asia prevalent tumour types
• Core expertise in the design and execution of innovative clinical trials
Innovative clinical development strategies
• Typically we acquire global rights to these drugs and pay zero upfront to the originator
Ability to negotiate attractive licensing terms
00494/CF
• Innovative Biomedical Company (BioSingapore)
• Top Asia Biotech (Biopharm Asia)
• Executive of the Year (Biopharm Asia finalist)
• Best Company in an Emerging Market (Scrip finalist)
• Most Promising Company of the Year (ChinaBio winner)
• Small Business Rising Star (British Chamber winner)
• Young Professional of Year (British Chamber finalist)
• Best Company in an Emerging Market (Scrip finalist)
• Best Management Team of the Year (Scrip finalist)
• Awarded Red Herring Top 100 (Asia)
• Finalist for Red Herring Top 100 (Global)
• Top Scrip 100 Leader
g
00494/CF
APPENDIX
40
00494/CF
41
Period endingUnit: kNTD
2013Pro forma
2014Pro forma
2015Pro forma
2016Pro forma
Current Asset 515,999 178,955 890,962 1,718,671
Total Asset 518,086 184,379 896,162 1,737,872
Total Liability 224,823 254,028 312,534 392,753
Paid-in capital 521,857 521,857 862,799 1,156,709
Capital surplus 377,581 394,472 1,155,160 1,784,994
Retained earnings (606,314) (988,363) (1,432,094) (1,565,714)
Shareholders’ equity 293,263 (69,649) 583,628 1,345,119
BVPS 5.6 N/A* 6.8 11.6
• Preferred shares converted into ordinary shares with par of NT$10 on 27 May 2016• Shareholders’ equity is greater than 2/3 of paid-in capital as of 30 June 2016
FIN
AN
CIA
LSNTD 1.7 Bn in cash at end of 2016
2013 - 2016 financial statements audited by Deloitte* Series B preferred shares treated as a liability rather than equity due to embedded redemption rights
00494/CF
Significant narrowing of losses in 2016
Unit: kNTD2013
Pro forma2014
Pro forma2015
Pro forma2016
Pro forma
Revenue 0 0 0 368,980
Expenses (230,550) (379,816) (434,161) (650,017)
Operating income (230,559) (379,816) (434,161) (281,037)
Pre-tax profit (290,473) (382,049) (443,731) (292,325)
Net profit (loss) (290,473) (382,049) (443,731) (292,325)
Profit per share (NTD) (11.09) (7.32) (8.06) (2.78)
42
FIN
AN
CIA
LS
2013 - 2016 financial statements have been audited by Deloitte
00494/CF
Strong corporate governance – board composition
43
CO
RP
OR
ATE
GO
VER
NA
NC
E
Director Position Background
Kelvin Sun Independent President Saga-Unitek Ventures, Independent Director of TWi and Wonderful Hi-Tech
Mei-Shu Lai Independent Prof for Epidemiology at NTU, President / CEO of BNHI, Deputy Minister, Dept of Health
Andrew Howden Independent CEO iNova Pharma, Head of AsiaPac for AstraZeneca, President of AsiaPac for IMS
Jerome Shen President, Allgenesis Served as executive member in VC firms, including Cheng Xin and XinChen.
Abel Ang COO, Accuron Worked in Singapore government and exec positions at US-listed tech companies
Jun Wu Managing Partner, Cenova CEO Shanghai Genomics
Damien Lim General Partner, BioVeda 18 years private equity and investment banking experience
Carl Firth CEO, ASLAN Asia Healthcare at Merrill Lynch,AstraZeneca
Note: Selected work experience shown
00494/CF
Strong corporate governance – Board Meeting
44
TitleName
(or Name of institutions)
Board meeting under the tenureName of
corporate director
Note
AttendanceActual
attendance(including proxy)
Attendance (%)
Supervisor attendance
Chairman Carl Firth 1010
(none by proxy)100% — — —
DirectorAdvanced Materials Technologies Pte Ltd.
109
(1 by proxy)90% — Abel Ang —
Director Alnair Investment 107
(3 by proxy)70% — Jun Wu —
DirectorBV Healthcare II Pte.Ltd.
1010
(none by proxy)100% — Damien Lim —
Director Jerome Shen Note 97
(1 by proxy)87.5% — — —
INED Andrew Howden 109
(1 by proxy)90% — — —
INED Mei-Shu Lai 106
(4 by proxy)60% — — —
INED Chin-Feng Sun 1010
(none by proxy)100% — — —
Note: The above table illustrates the attendance of the board in 2016 and 1Q17, total board meetings, to date, are 10 (as of March 2017)Note : Jerome Shen was elected on 27 May 2016
CO
RP
OR
ATE
GO
VER
NA
NC
EEX
ECU
TIO
N
00494/CF
Operational risk and countermeasure
45
Failures in clinical studies
•High quality compound selection
•Focusing on selected patient populations
•Diverse risk-balanced portfolio
Drug development is long and costly
•No in-house discovery
•Limited upfronts
•Outsourced manufacturing
•Focus on orphan disease and specific patient populations for smaller studies
•Strong investor base that can provide further capital
•Raising capital ahead of time
Inability to out-license drugs
•Early discussions already underway
•Advanced discussions on regional partnerships
•Experience and relationships in industry
•Two outlicensingdeals completed
Inability to in-license drugs
•Strong track record of in-licensing
•Rich pipeline of opportunities to choose from
•Building proprietary pipeline
RIS
KS