Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access

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Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Inducing T cells to treat
and prevent disease

Corporate Presentation

V2_JUL
NON-CONFIDENTIAL
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Company Overview
      Platform
      •   Proprietary ChAdOx (prime) and MVA (boost) technology platform licensed from University of Oxford; induces and
          maintains high levels of CD8+ T cells against target antigens
      Therapeutic Pipeline
      •   Ph1/2 HPV and HBV immunotherapy data H2 2021 – first HBV participant dosed June 23
      •   Ph2 Prostate cancer, 5T4 immunotherapeutic data recently released
      •   Ph1/2 NSCLC MAGE-NYESO immunotherapeutic enters clinic in Q2 2021
      External funding - 4 of 6 projects in co-development
      •   Leading Ph3 ChAdOx COVID-19 vaccine out-licensed to Oxford Uni/AstraZeneca with post-pandemic revenue stream
      •   Leading ChAdOx MERS coronavirus vaccine, Ph1 immunogenicity and safety data, increasing partner interest
      •   Platform positions Vaccitech to rapidly develop vaccines for future pandemic threats

    Our                      Our
3   Founders                 Investors
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Strong scientific, clinical and financial foundations

    •   $150M funding
    •   Over 15 years of human studies
    •   5,000 participants vaccinated
                                                                                                                    Established 2016

                                                                                ChAdOx-MVA platform*
    •   Over 160 vaccine technologies                                                                           •

         •  Many assessed head-to-head for CD8+ T cell induction                                                •   $60M raised
         •  ChAd-MVA consistently superior                                                                      •   $8.6M non-dilutive funding
                                                                                                                •   Over 3,000 participants in trials
                                                            •    MVA, ChAd,                                     •   35 employees
                                                                 DNA,                                           •   >4000 sq. ft of lab space
                                                                 fowlpox,
                                                                 protein,                                       •   Significant external validation
                                                                 adjuvants,                                         with partners
                                                                 VLPs
                                                            Ewer et al (2017)
                                                            Hum Vaccin
                                                            Immunother.
                                                                                                       *Exclusive rights to the platform in multiple infectious
                                                                                                       disease and all oncology indications
    •   In multiple indications:
4         Ebola, Malaria, Hepatitis C, TB, HIV, Influenza
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Vaccitech Pipeline

       Product            Program              IND-enabling   Phase 1   Phase 2   Phase 3   Vaccitech Rights
                 Prostate cancer therapeutic
       VTP-800                                                                                   Worldwide
                 with checkpoint inhibitor

       VTP-300   HBV therapeutic                                                                 Worldwide

       VTP-200   HPV therapeutic                                                                 Worldwide

                 NSCLC therapeutic with
       VTP-600                                                                              Worldwide (76% of JV)
                 checkpoint inhibitor
                                                                                                 Worldwide
       VTP-400   Zoster prophylactic                                                            (excl. China)

                 MERS Coronavirus
       VTP-500                                                                                   Worldwide
                 prophylactic
      VTP-900/ COVID-19 Coronavirus
                                                                                              Licensed to OU-AZ
      AZD1222 prophylactic

5
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Vaccitech Technology Platform
    ChAdOx-MVA

6
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
Immunity against infection and cancer is indication-specific
                                                       ChAdOx (Prime)                      MVA (Boost)

                                                                5’      DNA    3’                      5’     DNA       3’
                        Gene(s)         Cell
                    replicated and                                   Transgene                              Transgene
                      transcribed

                       Cytotoxic T
                      lymphocyte

                                                                                          Cell-mediated and B cell boost
                                                                                    CD8+ subset has been difficult to induce
                                      Antigen                                       with competitive technologies
                                     presenting
                                                  Viral/tumor
                                        cells
                                                   antigenic                        Targets foreign elements to protect against
                                                    peptide                         and clear viruses and cancers
    Humoral and cellular immune
         response prime
                                                        CD4+ and CD8+ T cells                    Optimal immune
    Prophylactic and therapeutic
    efficacy against viral infection                                                          responses to treat and
    (e.g., COVID-19, MERS, Zoster)                                                               prevent disease
7
                                                                 Antibodies
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
ChAd-MVA provides powerful antigen-specific T cell induction
                               Leading CD8+ T cell-inducing platform in man
                               Platform safely mimics potent natural viral infections, using heterologous prime-boost

                                     Prime                                                              Boost                             Key Platform Features:
                                                                                                                                          •   Vectors encode the same transgene
                Chimpanzee Adenovirus                                                                                Avian-adapted
                                                                     1 – 12 weeks                                                         •   Only boost target antigen responses
                Oxford 1 and 2 (ChAdOx)                                                                              Modified Vaccinia
                                                                                                                                          •   No anti-vector immunity (unlike most
                                                                                                                     Ankara (MVA)
                                                                                                                                              human adenoviruses)

       Indicative Human T cell response,      antigen, invariant chain1
                                          HCVFeatures:
                                 Key Platform                                                                    Optimal immunogenicity
                                               •    Vectors encode the same
                                                                                                                 •   Quantity: greater CD8+ T cell stimulation than other platforms
                                                    transgene
                                         MVA•       Only boost target antigen                                    •   Quality: T cells polyfunctional
                                         boost      responses
                                               •    No anti-vector immunity (unlike                              •   Duration: Sustained T cell levels
                       ChAd                         most human adenoviruses)
                       prime
                                                                                                                 Excellent safety
                                                                                                                 •   Neither vector can replicate in man
                                                                                                                 Convenient administration
                                                                                                                 •   Intramuscular injection of each vector given 1 week to 3
                                                                                                                     months apart
8
    1 Esposito et al (2020) Science Translational Medicine, Vol. 12, Issue 548 – Median T cell response in 10 healthy participants
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
CD4+ & CD8+ T generates
      ChAd-MVA    cell Induction in magnitude
                              high  Humans (Infectious
                                               CD8+ TDiseases)
                                                       cell responses in humans
         In Infectious Disease vs. foreign viral antigens                                                                         In Oncology                      and even vs. self-antigens

                            Induction of balanced CD8+ and CD4+ T cells – ex vivo ELISPOT                                                      Average ex vivo T cell (with CD8+) induction in responding patients

                                                                                                                                                                                                    ChAdOx-MVA.5T4
                                                                                                 ChAd-MVA

                            Phase 1                 Phase 3           Pre-registration               Phase 1
                             (Flu)                   (HPV)                (Ebola)                     (HCV)
                                                                                                                                                   Licenced       Terminated           Phase 2            Phase 1
                                                                                                                                                   (mCRPC)          Phase 3          (Melanoma)          (Prostate
                                                                                                                                                                   (mCRPC)                                cancer)
    RNA: Bahl 2017, Mol Ther. 25:1316-1327, DNA: Trimble 2015, Lancet 386:2078-2088, Other viral vectors: Harari 2012, Eur J Immunol 42:3038-48; Dahlke 2017,
    EBioMedicine 19: 107–118. ChAd-MVA: Ewer et al. 2016, NEJM; Ogwang et al 2015, Sci Transl Med. 7:286re5.
9   Provenge Nadeem A. Sheikh at al. 2012 Cancer Immunol Immunotherapy, Vaccinia/Fowlpox Gulley et al (2013) Cancer Immunol. research, 2(2), pp.133-141.
    RNA Sahin U. et al. Nature 2017 ChAd-MVA: Redchenko et al 2018 Journal of Clinical Oncology 36, 3018-3018.
                                                                                                                                                                                                                     ©
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
ChAdOx-MVA platform is differentiated and well-positioned
          The heterologous prime-boost approach is at the cutting edge
          •   Large pharma and biotechs (including GSK, J&J, Pfizer, Gritstone) also utilizing
              this approach​ to induce CD8+ T cells
          •   Targeting disease settings where CD8+ T cells are needed, including chronic viral
              infections and cancer

          Proprietary, innovative product design
          •   Proprietary promoters increasing immunogenicity
          •   Innovative encoded molecular adjuvants
          •   Novel, global antigen insert designs

          Highly scalable and reliable production
          •   Proprietary manufacturing cell lines for speed, scale and efficiency
          •   Eight GMP clinical lots already produced and processes confirmed for
              commercial scale
10        •   Cost of goods lower than most powerful T cell-based technologies
Inducing T cells to treat and prevent disease - Corporate Presentation - Solebury Trout Access
ChAdOx (Prime) – MVA (Boost)
     Therapeutic Pipeline
     Leveraging the Vaccitech Platform across multiple targets in
     infectious disease and cancer

11
VTP-300
         VTP-300: Phase 1 ongoing for a functional HBV cure
                 Need                                                                                                                      Approach and Data                                                                  Plan
                                                                                C57BL6 mice vaccinated with
                                                             5x10^7 IU of ChAdOx1-HBV-v2 and 2x10^6 PFU of MVA-HBV-v2(low GC)
                                                                                   Spleenocyte repsonse                 T cells                                                                         Abs
                                                           12000
                                                           11000
                                                                                                                                                                                                                  Goal: Functional cure
                                                           10000
                                                            9000
                                                            8000
                                                            7000
                                                            6000
                                                                                                                                                                                                                  (sustained loss of HepB sAg)
                                                            5000
                                                            4000
                                                                                                                                                                                                                  >30% of treated patients
                                           IFN-γ SFU/106
                                           Spleenocytes
                                                            3000
                                                            2000
                                                            1000
                                                            500

                                                            400

                                                            300                                                                                                                                               •   Phase 1 underway in CHB
                                                            200

     •   >250M people                                       100                                                                                                                                                   patients
                                                               0

         chronically infected                                      SI
                                                                     i
                                                                         F2
                                                                              A

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                                                                                            1   &2
                                                                                                     Co
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                                                                                                                                    Po
                                                                                                                                         l-3
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                                                                                                                                                          Pr
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                                                                                                                                                                                            To
                                                                                                                                                                                               t   al

                                                                                                                                                                                                              •   Select the appropriate dose(s)
                                                                                  Li

         with HBV                                                    Non-HBV                                              HBV peptides
                                                                                                                                                                                                                  for development at Phase 2
                                                                      vaccine                                            HBV peptides
                                                                    components
     •   >70M infected with                                                                                                                                                                                       with anti-PD1
         Genotype C                               Broad preclinical HBV-specific T cell and Ab responses1
                                                                                                                                                                                                              •   Expand HBV populations
     •   There is no cure for                 •            Encodes all of surface antigen, inactivate polymerase, core                                                                                            Phase 2/3
         CHB                                                                                                                                                                                                  •   Explore different anti-PD(L)1
                                              •            In combination with low-dose Checkpoint Inhibitor and
     •   Global HBV market:                                antivirals                                                                                                                                             for Phase 3 and various
         over $2B                                                                                                                                                                                                 antiviral targets
                                              •            Consensus sequence using Genotype C

12
         1 Chinnakannan et al (2020) Vaccines 2020, 8, 184
VTP-300
     HBV001 and HBV002 – High level study designs

            HBV001                        Healthy Participants                                   CHB Participants
            Phase 1
         (UK, initiated)
                              Cohort 1 (N=5) LD          Cohort 2 (N=5) HD
                                                                                     Cohort 3 (N=6) LD        Cohort 4 (N=6) HD
                               ChAdOx1-HBV                 ChAdOx1-HBV
     FPFV (HP): dosed June       2.5 x 109 vp               2.5 x 1010 vp
                                                                                      ChAdOx1-HBV               ChAdOx1-HBV
       FPFV (CHB): Q320                                                                2.5 x 109 vp              2.5 x 1010 vp
                                Fully enrolled             Fully enrolled

                                              Group 1 (N=16)
                                                                                             •   HBV DNA
VTP-200
         VTP-200: Phase 1 ready therapeutic for high-risk HPV
                   Need                                                     Approach and Data                                        Plan
                                                                                                                        Eliminate persistent high-
                                                                                                                        risk HPV infection and HPV-
                                                                                                                        associated early cervical
                                                                                                                        lesions
     •   10M cases of high-risk                                                                                     •   Phase 1/2 (105 CIN1/2 HPV
         HPV infection in US                                                                                            patients) start Q3 2020,
         and EU each year                                                                                               efficacy read-out Q4 2021
     •   No therapeutic drug                                                                                        •   Conduct Phase 2b/3 adaptive
         for persistent infection                    VTP-200 elicits higher magnitudes of CD8+ T cells                  trial(s) suitable for licensure.
     •   Induction of CD8+ T                                             than DNA1                                  •   Expand the indications to
         cells partially effective                        Targets all high-risk genotypes using 6 early proteins:       include Anal Intraepithelial
     •   Breakthrough                                                                                                   Neoplasia (AIN), vulvar
                                                          •   E1, E2, E4, E5, E6, E7
         therapeutic peak sales                                                                                         neoplasia, and other
                                                          •   From HPV16, 18, 31, 52, 58                                potential HPV pre-cancerous
         approximately $1.4B
         (US and 5EU)                                     •   Includes 59 conserved amino acid regions                  lesions (oral)

14
     1 Hancock et al (2019) Scientific Reports, 9(1), pp.1-12.
VTP-200
     VTP-200: HPV001, Phase 1/2a – Q3 2020
         Trial Timelines                                       Main phase (N=96) Patients high-risk HPV positive for >6 months
                                       Countries
       FPFV         Q3 20                                         Placebo controlled, blinded, randomised: Safety, efficacy,
                                        Belgium                                        dose-response
       LPFV         Q1 21
                                          UK
        LPLV        Q4 22                                                  Group 1 (N=16)
                                                              ChAdOx1-HPV 2 x 109 vp; MVA-HPV 1 x 107 pfu
                        Lead-in (N=9)                                                                        Efficacy: % clearance of
       Patients high-risk HPV positive for >6 months:                      Group 2 (N=16)                    high-risk HPV and % of
                      immunogenicity                          ChAdOx1-HPV 2 x 1010 vp; MVA-HPV 1 x 107 pfu
                                                                                                                  cervical lesions
                                                                                                             evaluated at 12 months
                                                                           Group 3 (N=8)
                                                              ChAdOx1-HPV 2 x 108 vp; MVA-HPV 1 x 108 pfu
                                        Group C (N=3)
                                                                                                                Data anticipated:
                                    ChAdOx1-HPV 2 x 1010 vp                                                  6 month HPV clearance
                                                                           Group 4 (N=8)
                                      MVA-HPV 1 x 107 pfu     ChAdOx1-HPV 2 x 109 vp; MVA-HPV 1 x 108 pfu        data – Q4 2021

                                                                           Group 5 (N=16)                     Expansion: 12 month
                         Group B (N=3)
                     ChAdOx1-HPV 2 x 109 vp                   ChAdOx1-HPV 2 x 1010 vp; MVA-HPV 1 x 108 pfu   data analysis, or interim
                      MVA-HPV 1 x 107 pfu                                                                        if efficacy signal
                                                                            Group 6 (N=32)
                                                                               Placebo
         Group A (N=3)
     ChAdOx1-HPV 2 x 108 vp
      MVA-HPV 1 x 107 pfu
15
VTP-800
         VTP-800: In Phase 2 with anti-PD-1 for prostate cancer
                             Prostate cancer is the most common & 2nd leading cause of cancer death in men

                                        Phase 1: VANCE                                                                              Phase 2a: ADVANCE
           Immunogenicity complete: ChAdOx1 + MVA prime
           boost (34 early-stage prostate cancer patients)                                                Study in metastatic patients using
                                                                                                          ChAdOx-MVA plus a checkpoint inhibitor
           •    High CD8+ T cell responses to the human self-
                antigen 5T4, an oncofetal protein
                                                                                                          •    23 mCRPC patients recruited
                                                            •   CD8+ T cells also                         •    Efficacy readouts: reduction in PSA levels,
                                                                infiltrated tumor
                                                                                                               ctDNA
                                                            •   Presented at                              •    Primary endpoint: >50% reduction in PSA
                                                                ASCO 2018                                      compared to baseline
                                                            •   Published BMJ1                            •    Comparator anti-PD-1 alone response ~9%2
                                                                                                          •    PFS, OS (Secondary endpoints)
         Ex vivo overnight T cell responses (n.b., not in vitro stimulated) to
         5T4 peptide pools (IFNγ ELISPOT) , 64% of patients responded

                     Investigator-led trials sponsored by University of Oxford and funded by EU grant
16
     1 Cappuccini, F. et al. Journal for ImmunoTherapy of Cancer 2020, 2 Antonarakis, E. et al. Journal of Clinical Oncology 2020
VTP-800
        ADVANCE: KEYNOTE-199 comparison
      In collaboration with Prof Adrian Hill, Dr Irina Redchenko and Dr Mark Tuthill, University of Oxford

                                  Data                          ADVANCE (N=23)        KEYNOTE-1991              Stats*
                                                                                         (N=243)
                                Patients                   Progressing mCRPC        Progressing mCRPC
                                                        Opdivo 480 mg on weeks
                                                                                  Pembro 200 mg q3 for
                                                                4, 8, 12
                               Regimen                                                   up to
                                                        (VTP-800 prime-boost on
                                                                                       35 weeks
                                                           weeks 0, 4, 12, 16)
                                                                                  115, 116, 43 ng/mL in
                        Median PSA at start                        88 ng/mL
                                                                                        3 cohorts
                        Responses of > 50%                                                                   P = 0.059*      * Fisher’s
                                                                  22% (5/23)            9% (21/243)                          exact test
                         at any timepoint                                                                    P = 0.10**
                                                                                                                             ** with
                          Responses with                                                                                     Yates
                                                                                                             P = 0.057*
                         confirmation at 3                       17.4% (4/23)          5.8% (14/243)                         correction
                                                                                                             P = 0.09**
                            weeks later

                                        Full clinical analysis pending, initial safety data is
                                      comparable to that seen from dosing anti-PD-1 alone
17 1 Antonarakis, E. et al. Journal of Clinical Oncology 2020
VTP-600
          VTP-600: Novel MAGE-A3 and NY-ESO-1 therapeutic
     In collaboration with Prof Benoit Van Den Eynde, Ludwig Cancer Research

                                                                                         •   MAGE-A3 and NY-ESO-1: immunogenic tumor-associated
     Background

                                                                                             antigens, highly specific to cancer cells
                                                                                         •   NSCLC, gastro-esophageal, melanoma and bladder express
                                                                                             both antigens

                         1 Normalised                              Lung         Skin
                         according to
                                              Esophageal
                                                             squamous cell   cutaneous                                           Mean tumour growth - 15V4T3
                                               carcinoma
                         RPKM         Bladder                   carcinoma    Melanoma
                                                   Head and Neck                                                       800
                                    Urothelial                                                                                                                             DPY control

                                                                                             Mean tumor volume (mm3)
                                    Carcinoma      squamous cell
                                                   carcinoma                                                                                                               Chemo only
                                                                                                                       600
                                                                                                                                                                           aPD-1 only
                           •   Improves efficacy of anti-PD-1 and                                                                                                          Vaccine only
                                                                                                                                                                                                     ****
     Approach and data

                                                                                                                       400
                                                                                                                                                                                                            ****
                               chemotherapy                                                                                                                                Vaccine + chemo
                                                                                                                       200                                                 Vaccine + aPD-1
                           •   Design allows patient selection based                                                                                                       Chemo + aPD-1
                               on NY-ESO and/or MAGE expression                                                          0
                                                                                                                                                                           Vaccine + aPD-1 + chemo
                                                                                                                             0      10      20       30       40    50
                           •   First-in-human Proof-of-Concept trial                                                                Days post tumour implantation

                               Q2 2021, sponsored by CRUK                                                                DBA/2 mice, P1A tumors, mastocytoma cell line
                                                                                                                         One round of prime-boost – ChAdOx day 8, MVA day 151

18
                         1 Data on file
In collaboration with
                                                                                                                                        VTP-600
     VTP-600: High-level Phase 1/2a clinical design

         SoC therapy phase and recruitment (STAGE 1)

      Patient is diagnosed                                                                          Phase 1/2a trial (STAGE 2)
      and commences                2 cycles of SoC chemo and anti-PD-1
      standard of care (SoC)              (6 wks at 200mg/dose)
      treatment                                                             Day 1              Day 28
                                                                             (C3)                                       PFS, OS, ORR
                                                                                                                  Data anticipated: Q1 2023

                                                                              NSCLC VTP-600 arm + SoC
                                                                                    40 patients
                  During the 2 cycles of SoC:

                                                           Randomization
                                                           (Non-blinded)
                  • Screening procedures                                                        Boost - MVA-     SoC given which can continue while
                    (MAGE-A3 and NY-ESO-                      Patient          Prime -         MAGE-A3 alone
                                                                                                                     patient is receiving benefit
                    1 expression)                                             ChAdOx-                or
                  • Biopsy                                                   MAGE-A3-NY-       MVA-MAGE-A3
                                                                                ESO-1           and MVA-NY-     VTP-600 re-boosting as indicated from
                  • Consent to the trial
                                                                                                   ESO-1                  patient response

                                                                                    NSCLC SoC arm
                                                                                     40 patients

                                                                               GOJ VTP-600 + SoC + anti-PD-1
                                                                                 15 patient biomarker arm
19
Series B/Crossover
     Overview & Use of Proceeds

20
Financial overview

     Money raised to date:                                   Series B Funding / Use of Proceeds:
     •   $13M (£10M) Seed March 2016                           $55M to fund through Q1 2022
     •   $32M (£26M) Series A 2018                       •   Phase 2a efficacy readout in HBV
         •   New investors in each A round               •   Phase 2a efficacy readout in HPV
     •   $3M Ludwig investment into joint venture 2018   •   Prostate cancer Phase 2b readout
     •   BARDA funding $8.6M Jan 2019                    •   General corporate purposes
     Post money (Series A):
      • $86M
                                                          Through Partners/External Funding:
     Cash into Q2 2021:                                  • COVID-19 vaccine license revenue

     •   $4.2M June 2020                                 • MERS Phase 1 data

                                                         • Zoster Phase 1 data
     •   $3.5M R&D tax credits due prior to Aug 2020
                                                         • NSCLC – Phase 1/2b start
     •   AZ upfront milestone receipt in Jul
     •   $12.3M convertible note closed Jul
21
Series B – Use of Proceeds through Q1 2022 ($55M)

     Anticipated spend:
     •   HPV to end Phase 1/2a (H2-2021)                $25M
     •   HBV to end Phase 1/2a (H2-2021)                $25M
     •   Prostate Phase 2b                              $12M
     •   G&A                                            $8M
     •   Research / Development                         $4M
     •   Rapid Adeno Manufacturing (RAM)                $2M
     •   VOLT / MAGE (Phase 1/2a funded externally)     $3M
     •   Flu Wind down                                  $1M

     Less:
     •   Cash at May 2020                               ($3M)
     •   Future Fund matched investment                 ($13M)
     •   Astra Zeneca/OU licence upfront                ($2M)
     •   UK Parent R&D Tax credit                       ($5M)
     •   Australian subsidiary R&D Tax credit           ($2M)

                                            Net spend   $55M
22
Accomplishments & Upcoming Milestones
       Key value drivers and upcoming catalysts
                           Completed                                                    Upcoming                                                Series B
                           Milestones                                                   Milestones                                             Milestones
             Early partnerships and collaborations                      •   Prostate Cancer (VTP-800) Phase 2a                      •    ChAdOx COVID-19 vaccine available
             (MERS, Flu, Zoster, NSCLC)                                     interim readout Q1 2020                                      for pandemic use in Q3 2020*
             HPV, HBV and NSCLC therapeutics in                         •   OU COVID-19 Phase 1 start Q2 2020                       •    ChAdOx COVID-19 non-emergency
             GMP manufacture                                                                                                             use regulatory approval milestones
                                                                        •   Revenue upon finalization of OU-AZ                           in 2021**
             Appointment of Bill Enright as Chief                           license**
             Executive Officer                                                                                                      •    HBV (VTP-300) efficacy readout
                                                                        •   HBV (VTP-300) Phase 1 enrollment                             (sAg loss) H2 2021
             MERS coronavirus (VTP-500) Phase 1                             completed by Q3
             readout                                                                                                                •    HPV (VTP-200) efficacy readout
                                                                        •   HBV (VTP-300) Phase 2a start Q3 2020                         (lesion and % HPV viral clearance)
             Successful execution of Phase 2b                                                                                            H2 2021
             studies for Universal Influenza A                          •   HPV (VTP-200) Phase 1 start Q3 2020
             vaccine (VTP-100)                                          •   MERS coronavirus (VTP-500) Saudi                        •    NSCLC (VTP-600) Phase 1/2a first-
                                                                            Arabia Phase 1 data Q3 2020**                                line start Q2 2021

23
     *Best case timing based on clinical success and manufacturing scale up forecasts ** Milestones generated through external funding
Prophylactic products
     Externally funded programs and pandemic readiness

24
Pipeline of prophylactic products

     Platform technology continues to be validated through partners and non-dilutive funding

                                         IND-
       Product          Program                   Phase 1   Phase 2   Phase 3   Vaccitech Rights        Funding
                                       enabling
       VTP-900/ COVID-19 Coronavirus
                                                                                          Licensed to OU-AZ
       AZD1222 prophylactic
                                                                                                       Funded by
                                                                                    Worldwide
       VTP-400 Zoster prophylactic                                                 (excl. China)
                                                                                                     CanSino through
                                                                                                         Phase 1
                                                                                                      CEPI invested
                 MERS Coronavirus
       VTP-500                                                                     Worldwide         $19M to develop
                 prophylactic                                                                         MERS program

25
Expertise and a platform to accelerate pandemic preparedness

                                                                                                GMP material
               Vaccine design                 Non-GMP                  Animal studies
                                                                                                 for FIH trial
            Virus sequence optimised    Research stock generated
                                       for animal studies, stability
                                                 tested

                     2 weeks                     3 weeks                3-12 weeks

                                                                                     GMP 12 weeks

     •   ChAdOx shows efficacy in animal models of Lassa/Nipah; Phase 1 studies in Zika and Chikungunya
     •   Rapid design and transfer of ChAdOx COVID-19 vaccine for human trials now shown; million dose scale up ongoing
     •   Proprietary simian-adenovirus vectors (ChAdOx and undisclosed) for future vaccine projects
26
VTP-500
          ChAdOx1 MERS Coronavirus Phase 1: Durable humoral and cellular immune responses

          Antibodies: Individual IgG titres at different dose groups   T cells: Ex vivo IFN-γ ELISpot T cell responses to Spike

      •     Single dose of ChAdOx1 induced strong Ab and T cell responses that persisted when measured 1 year post vaccination
      •     ChAdOx1 MERS induces a strong and sustained cellular immune response at all doses tested
      •     A strong Th1 response is associated with protection from immunopathology in animal models
      •     Human data and vaccine design informed ChAdOx COVID-19 vaccine development
27
     Gilbert et al (2020) Lancet ID
ChAdOx1 nCoV-19 Phase 1/2: Robust anti-viral immune responses in people with COVID-19

               Antibodies: neutralising Ab titers in participants            T cells: Ex vivo IFN-γ ELISpot T cell responses
                     and convalescent plasma samples                                       to SARS-CoV-2 Spike

       •    Neutralising Ab responses similar to range seen in convalescent COVID-19 patients
       •    Antigen-specific T cell responses detected in all participants without artificial culturing
       •    No SAEs reported, safety comparable to other ChAdOx trials
       •    Differentiated induction of both humoral and cellular immune responses against SARS-CoV-2
28
     Folegatti et al (2020) Lancet ID
COVID-19 Overview

                             MHRA                                                         Pts #
                                         Ph 1 UK                                                          High level study design
                                                                                         1,112
                                                               Conditional Licensure –
     Clinical Development

                                          Ph 2/3 UK                   Q3 2020            10,000   •   Initial safety and immunogenicity
                            Adaptive
                             design
                                                Ph 2/3 South Africa
                                                                                                  •   Phase 2/3 randomized efficacy studies
                                                                                                      in adults and children with
                                                    Ph 2/3 US                            30,000       comparator vaccine

                                                  Ph 2/3 Brazil                          5,000
                               Efficacy data                          EMA Registration
                            referenced for EU                          requirements
                                 licensure

                                  Govt, public
29                                 funding                                 £65M          $1.2B                             $750M
Vaccitech & Oxford University COVID-19 Partnership with AZ

       VTP-900 / AZD-1222         •   Vaccitech held platform rights and jointly invented COVID-19 vaccine with OU
       Vaccine History & IP       •   Vaccitech led ex-UK (mostly US and EU) early development until license to OU/AZ

                                  •   Grant of global development, manufacturing and distribution license
      OU / AZ Deal Summary        •   Vaccitech and OU are foregoing royalties on pandemic period sales (est. July ’21)
                                  •   May 2020 license structure includes upfront, milestones & royalties

                                  •   Vaccitech receives 24% of revenue paid under OU/AZ agreement
      Management Revenue          •   Vaccitech not responsible for any development/commercial expenses
                                  •   Milestones: estimated >$10 million of license revenues to Vaccitech through
             Estimates
                                      approvals (2020-22), plus several million more upon achievement of sales
                                      thresholds in first 12-18 months

     Clear multi-billion-dollar
                                  •   Vaccitech revenue eNPV is ~$300 million (management model, prob adjusted)
     market opportunity in the
          very near term          •   Potential peak royalties to Vaccitech of ~$140 million per year (post-pandemic)

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Platform company with short-term commercial milestones

       •   Proprietary ChAdOx (prime) and MVA (boost) platform creates powerful therapeutic and prophylactic products

       •   Clinical-stage therapeutic pipeline, near-term efficacy readouts in major infectious disease and oncology indications

       •   Externally funded pipeline includes leading COVID-19 vaccine
            •   Ph1/2 immunogenicity data positive, Ph3 trial ongoing and on track for efficacy data Q3

       •   Ongoing Series B / Crossover funds efficacy readouts in HBV, HPV, Prostate Cancer therapeutics

       •   Positive ChAdOx COVID-19 vaccine efficacy data (expected Q3) would position Vaccitech for a Q4 US IPO

     Our                     Our
31   Founders                Investors
Appendix

32
Board of Directors & Advisors

39
Vaccitech Board                                                         &   Scientific Advisors
                                                                                     Prof Adrian Hill
        Prof Sarah Gilbert
                                                                                     Co-Founder and Scientific Advisor
        Co-Founder, Board Director and Scientific Advisor
                                                                                     Director of the Jenner Institute at University of Oxford
        Professor of Vaccinology at University of Oxford

                                                                                     Patricia Fast, MD, Ph.D.
        Robin Wright
                                                                                     Scientific Advisor – Infectious Disease
        Chairman
                                                                                     International AIDS Vaccine Initiative
        Extensive experience as Chief Financial Officer of public
        companies in Pharma and Biotech
                                                                                     Jerome Kim
                                                                                     Scientific Advisor – Infectious Disease
        Alex Hammacher                                                               Director General of the International Vaccine Institute
        Non-executive Director
                                                                                     Stephen Dewhurst
         Lead life sciences investor for Oxford Sciences Innovation
                                                                                     Scientific Advisor – Infectious Disease

                                                                                     Chair of Microbiology and Immunology at the University of Rochester
        Pierre A Morgon
        Non-executive Director                                                       Bruce Innis
        Over 30 years experience in global vaccine and immunotherapy companies       Scientific Advisor – Infectious Disease

                                                                                     Leader, Respiratory Infections and Maternal Immunizations,
                                                                                     PATH Center for Vaccine Innovation and Access
     In addition, Bill Enright, Board Director (CEO) and
     Tom Evans, Board Director (CSO)
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Oncology Scientific Advisors

     Justin Stebbing                        Charles G. Drake
     Scientific Advisor - Oncology          Scientific Advisor - Oncology

     Professor of Cancer Medicine and       Co-Director, Cancer
     Oncology at Imperial College London    Immunotherapy Programs at
                                            Columbia, Herbert Irving

     Benoit Van den Eynde                   Drew Pardoll

     Scientific Advisor - Oncology          Scientific Advisor - Oncology

     Professor of Tumor Immunology,         Professor of Oncology, Johns
     Ludwig Institute for Cancer Research   Hopkins University, School of
                                            Medicine

      Mark Middleton                        Mark Tuthill
      Scientific Advisor - Oncology         Scientific Advisor - Oncology

      Head of Department of Oncology.       Consultant oncologist at the Churchill
      Early Phase Clinical Trials &         Hospital, OUH NHS FT
      Melanoma Therapy

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Intellectual Property

42
Intellectual property
                                           Platform technology protected by global patent portfolio

                                                  Vector/Platform
     Patent portfolio                             • ChAdOX1 patent (PCT/GB2012/000467 expiring 2032) granted and pending

                                                  • ChAdOx2 patent (PCT/GB2017/051851 expiring 2037) granted (GB) and pending
     •   Patent applications covering
         platform technologies and                • Rapid Adeno Method (PCT/EP2019/073181 expiring 2039) pending

         specific products are owned by
                                                  Products
         Oxford University Innovation
                                                  • MERS patent (PCT/GB2018/051399 expiring 2038) pending
         •   Vaccitech is exclusive licensee to
             platform for use in specific         • HBV patent (PCT/GB2018/050948 expiring 2038) pending
             infectious diseases
                                                  • MVA-F11.5T4 patent (PCT/EP2019/062694 expiring 2039) pending
         •   Vaccitech is exclusive licensee to
             ChAdOx platform for all              • HPV patent (PCT/GB2018/052335 expiring 2038) pending
             therapeutic cancer vaccine uses      • VZV patent priority application (GB1818084.4 expiring 2038) pending
         •   Vaccitech is also non-exclusive
             licensee to platform for use in      Promoters for increased immunogenicity
             most other Infectious Disease        • Adenoviral promoter patent (PCT/GB2008/001262 expiring 2028) granted in EP and US
             indications
                                                  • MVA F11 promoter patent (PCT/GB2011/050757 expiring 2031) granted in EP and US

                                                  • Shark invariant chain patent (EP3077408 and US15/101,282 expiring 2034) pending

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