Investor Presentation February 2021 - immunoprecise.com |NASDAQ:IPA, TSXV:IPA
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Investor Presentation February 2021 immunoprecise.com | NASDAQ:IPA, TSXV:IPA
Disclosures
Disclaimer
ImmunoPrecise Antibodies - Innovation Accelerated
This presentation is not, & nothing in it should be construed as, an offer, invitation or recommendation in respect of ImmunoPrecise Antibodies Ltd. (the “Company”)
securities, or an offer, invitation or recommendation to sell, or solicitation of an offer to buy, the facilities or of the Company’s securities in any jurisdiction. Neither this
presentation nor anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential
investors & does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a
professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this presentation based on information available to it,
including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to
the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. These projections should not be considered a
representation of the Company’s potential cash generation performance in any way.
Forward Looking Statements
This presentation includes forward-looking statements, including future-oriented financial information (“FOFI”). Forward-looking statements can generally be identified by
the use of language such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, “potential” & “continue” or the negative thereof or similar variations. Forward-
looking statements are not statements of historical fact or assurances of future performance. They are based on the current beliefs, expectations & assumptions of the
Company’s management about the Company’s business, planned acquisitions, future plans, anticipated events & other future conditions. All forward–looking statements
attributable to the Company or persons acting on its behalf apply only as of the date of this document & are expressly qualified in their entirety by the cautionary
statements included in this presentation. The Company undertakes no obligation to update or revise these forward–looking statements to reflect events or circumstances
that arise after the date made or to reflect the occurrence of unanticipated events. Inevitably, some assumptions will not materialize, & anticipated events & circumstances
may affect the ultimate financial results. Projections are inherently subject to substantial & numerous uncertainties & to a wide variety of significant business, economic &
competitive risks, & the assumptions underlying the projections may be inaccurate in any material respect, including, but not limited to, those risks set forth in the
Company’s Management Discussion & Analysis for the interim period ended October 31, 2020, a copy of which may be obtained from SEDAR.com. The purpose of FOFI
provided in this presentation is to provide prospective investors with information pertaining to the Company’s long-term business objectives. Readers are cautioned that
this information may not be appropriate for other purposes.
2
> CRO Services
> Scientifically robust
> Cutting-edge discovery technologies
> High throughput, deep mining of antibody
repertoires
> Any target class, protein family, any species
ImmunoPrecise Antibodies - Innovation Accelerated
> Excellence in single B cell interrogation
> 10M immune cells per run, high success rates
> End-to-end service provider
> “Concept to clinical lead”
> Dramatically reduce time & risk
> Talem Therapeutics
> Diverse, internal pipeline, at cost
> Partnership & out-licensing opportunities
> Partner access to several human, transgenic
species
The IPA > Distinguished Covid pipeline
> Leverages complementary strengths of each
3
Opportunity discovery platform
> Uniquely designed to protect & treat against
current & emerging variants.
Partner of Choice
Our single-source, open-access biologics technology platform offers end-to-end solutions, empowering partners to discover
and develop biologics from concept to clinical lead.
ImmunoPrecise Antibodies - Innovation Accelerated
Computational Discovery Characterization Engineering Production
Analyses
> Customized to optimize antibody diversity & support clinical success
> Unparalleled, integrated capabilities and expertise
> Enables selection of ideal, customized campaign
> Extensive options for customizable deliverables
> Eliminate need for additional vendors
> Our scientific excellence and innovative technologies are proven combo for
success
> Thousands of programs completed
> Over 500 clients worldwide
> Includes 70% of top 20 pharma
4
Market Deficit
> Growing trend: increasing reliance on CROs
ImmunoPrecise Antibodies - Innovation Accelerated
> Improve development
> Decrease turnaround time
> Access expertise
> Exaggerated timelines to clinic
> Outdated technologies, many failed attempts in discovery
> High R&D costs
> Lack of high throughput technologies, rigorous scientific acumen
> CRO solution requires advanced, high-throughput, data-
driven technologies and expertise
5
Roadmap to Success
1984 IPA Opens
2010 B cell Select™ Launches
2016 New Business Plan Launches
ImmunoPrecise Antibodies - Innovation Accelerated
2017 OmniAb ® Preferred Provider Status
Acquisition of UPE
2018 New Management
Headquarters Moved to US
Acquisition of ModiQuest
2019 DeepDisplay™ Launches
Talem created: Internal Pipeline Established
Abthena™ & Artemis™ Launch
Talem OmniAb ® Access to Partners
2020 Coronavirus Programs Launch (January)
Recent Agreements: Janssen Research &
Development, Genmab A/S, Twist Bioscience, Mila,
Zymeworks Inc., Radboud University Medical Center,
6
Eindhoven University of Technology, LiteVax BV, NRC,
University of Victoria, National Institutes of Health
Therapeutic Antibodies
Market Growth and Convergence
> Explosive market growth for human therapeutic antibodies
> Therapeutic market expected to grow to $300B USD by 2025
ImmunoPrecise Antibodies - Innovation Accelerated
> In vitro diagnostics market projected to reach over $133B USD by 2027
> 7 of the top 10 best-selling drugs in 2019
> Drivers of CRO growth
> Increased reliance from industry
> Robust biopharmaceutical funding
> Accelerated drug approval rates
> Growing number of antibody clinical trials
> Increase in biopharma without internal research capabilities
> Emphasis on vendor consolidation
> IPA at intersection of two rapidly accelerating markets
> Could market surpass projections?
> Market transformation through innovation and consolidation
8 > Demand in emerging markets
Circumventing Clinical
Dead-Ends
ImmunoPrecise Antibodies - Innovation Accelerated
> Lead selection based on affinities will likely lead to clinical dead-
ends1
> Often not discovered until clinical phases 2 and 3
> Epitope binning
> Identify therapeutically relevant epitopes early
> Decrease late-stage failure
> Scientific rigor can decrease dead-end candidates and late-stage
failures
> Increase probability of clinical success
9
1The Importance of Epitope Binning for Biological Drug Discovery, Brooks, Benjamin, Current Drug Discovery Technologies · November 2013
Focused on What Matters
> Development preparation for clinical success
> Antibody diversity
ImmunoPrecise Antibodies - Innovation Accelerated
> Enhance through multiple, varied species
> Unique target epitopes
> Must avoid limited diversity in complex therapeutic programs
> Reduced diversity, fewer shots on goal
> Convalescent plasma
> Transgenic animals
> Discovery capabilities that maintain broad diversity
> Optionality of species
> Capitalize on natural diversity
> Capture full diversity
10
Results-Oriented
> The technologies, the expertise
ImmunoPrecise Antibodies - Innovation Accelerated
> Customize and fully align from beginning to end
> Immunogen (analysis, production, custom immunization)
> We thrive on challenging targets
> Discovery platforms
> Characterization & analytics
> Manufacturing & purification
> Optimization and engineering
> Leveling the playing field
> Meaningful, translatable programs
11ImmunoPrecise Antibodies - Innovation Accelerated
12
Select PartnersImmunoPrecise Antibodies - Innovation Accelerated 13
SARS-CoV-2: Know Your Enemy
ImmunoPrecise Antibodies - Innovation Accelerated
> Vaccines
> Leaves key populations at risk
> Not designed for sustainable efficacy against emerging variants
> The importance of cocktail therapies against viruses
> Mutation and natural selection
> Scientifically-robust, efficacious & durable cocktails
Safe : Designed to protect against mutagenic escape
> May also allow for lower dosing
Extensive : Emphasis on efficacy for every patient, variant, & strain of SARS-CoV-2
Efficient : Focus on retention of efficacy over seasons
> Ability to ‘plug & play’ for future formulations
14PolyTope™ Therapy: Leveraging Our Strengths
A scientifically rigorous & comprehensive cocktail therapy approach
> Leveraged complementary strengths of multiple antibody discovery platforms
ImmunoPrecise Antibodies - Innovation Accelerated
> No single platform is universally “the best”
> Multiple species & multiple antibody formats to cover ”blind-spots”
> Provides more comprehensive epitope coverage
> Increases the chance of finding “rare” clones
> Lead clones combined into cocktails
> Broad epitope coverage to mitigate mutational escape
> Large antibody library provides enormous possibilities for plug-&-play cocktails
15
For an in-depth scientific look into our Polytope ™ program, visit our website’s presentation page found under InvestorsFrom Library to Leads
Complementary discovery platforms
> Parallel, diverse library generation, screening & in-depth characterization to Functional Selections
converge upon a diverse portfolio of leads > ELISA
ImmunoPrecise Antibodies - Innovation Accelerated
> HTRF
> Octet HTX (BLI-based label-free biosensor)
> Cell-based Pseudovirus neutralization
Functional triage to a panel
Multiple of ~160 highly divers,
immunization & therapeutic candidates
panning strategies
>10,000 clones 16
screenedFunctional Diversity from Sequence-Diverse Libraries
ImmunoPrecise Antibodies - Innovation Accelerated
> Stitched full VH & VL (except llama, which are VH only)
> Functional selections used to triage to a panel of diverse therapeutic
leads, along with high quality reagents & diagnostic tools
17Higher-Order Cocktails for Robust Protection
˃ Identification of synergistic cocktails
˃ Multiple two-antibody synergistic combinations were identified
˃ 3- & 4-antibody combinations of synergistic pairs showed potent
ImmunoPrecise Antibodies - Innovation Accelerated
neutralization at low concentrations
˃ Our lead 4-Ab cocktail is in pre-clinical evaluation
Different 3-Ab cocktails showing synergistic effects
18Capital Structure
OUSTANDING SHARES
CASH ON HAND
Shares Outstanding 17,036,525 October 31, 2020 $16,840,908
ImmunoPrecise Antibodies - Innovation Accelerated
Share Price (CAD) $19.44
DEFERRED PAYMENTS FOR PAST ACQUISITIONS
Market Cap $331,190,046
As of Dec 31st, 2020. The company’s shares were consolidated on November Due May 1, 2021 $517,012
23rd, 2020 at a ratio of 5 to 1.
WARRANTS OUTSTANDING: EXERCISE PRICE $3.50
DEBT
(Expiring March 26th, 2022)
Due May 15, 2022
October 31, 2020 1,062,194 Private Placement Debentures 10% interest p.a $2,272,000
Future Cash Opportunity As of October 31st, 2020. An additional $240,000 has been converted since,
$3,717,679
leaving the outstanding balance at $2,032,000.
OPTIONS
Balance Weighted Average Exercise Price Weighted Average Life Remaining
Exercisable 867,567 $4.10 4.35
Unvested 385,333 $7.50 2.55
19 Total 1,252,900 $5.15 3.10
As of October 31st, 2020.YoY Financials
$14,057,927
ImmunoPrecise Antibodies - Innovation Accelerated
$10,926,268
$8,519,522
$8,033,984
Revenue
Gross Profit
$5,441,349 $5,294,634 $5,198,995
Adjusted EBITDA
$2,630,515 $2,451,026
$1,727,875
$1,420,809
$52,311
FY17 FY18 FY19 FY20 FY21 (First 6 months)
($3,097,483) ($2,849,474)
20Cash on Hand
ImmunoPrecise Antibodies - Innovation Accelerated
$20,000,000
$16,840,908
$15,000,000
$10,000,000
Cash On Hand
$5,471,650
$5,000,000
$2,578,445 $2,605,706
$1,806,133
$0
FY17 FY18 FY19 FY20 FY21 (First 6 months)
21Recent Company Highlights
> Partnered on Launch of SARS-CoV-2 Nanomedicine Therapy Program: December 30, 2020 IPA announced joining the COVABELP consortium, who received
EUREKA program funding through Health Holland, to develop a SARS-CoV-2-specific therapeutic nanomedicine that is administered via nasal inhalation and is also
intended for vaccination and in vitro diagnostics.
> Announced the Commencement of Trading on Nasdaq Stock Exchange: December 23, 2020 – IPA announced that its common shares had been approved
for listing on the NASDAQ Global Market under the trading ticker symbol “IPA.” Trading on the Nasdaq was expected to commence at market open on December
30, 2020.
ImmunoPrecise Antibodies - Innovation Accelerated
> Selected Lead Formulation for Preclinical PolyTope™ Antibody Cocktail Therapy: In November 2020, IPA announced the nomination the first anti-SARS-
CoV-2 cocktail therapy consisting of four, human, synergistic antibodies for preclinical testing in the well-defined, SARS-CoV-2, Syrian hamster model.
> Entered into Technology Partnership with Genmab: In November 2020, IPA entered into a research agreement with Genmab A/S, to generate novel bispecific
antibody combinations using Genmab's proprietary DuoBody® platform and IPA's proprietary antibodies in the field of infectious disease.
> Announced Strategic AI Partnership with Mila: In November 2020, IPA announced a partnership with Mila, a world-renowned artificial intelligence (AI) research
institute.
> Announced Collaboration with Twist Biosciences for the Creation of Novel, Therapeutic Antibody Products: In October 2020, IPA announced a
collaboration with Twist Biosciences to leverage Twist's silicon DNA platform to enhance its antibody therapeutics and expand its early-stage pipeline.
> Initiated Preclinical Trials for SARS-CoV-2 Vaccines in Collaboration with LiteVax: In September 2020, IPA, in partnership with LiteVax, initiated preclinical
trials for a set of vaccine candidates against SARS-CoV-2. The formulations were designed using IPA's extensive data sources and LiteVax's novel adjuvant.
> Released Second-Generation B Cell Select™: In September 2020, IPA Europe announced the release of a second-generation B-Cell platform with technology
aimed at accelerating antibody identification and discovery by increasing automation of their selection technology and subsequent single cell cloning.
> Announced Multi-Specific Antibody Collaboration with Zymeworks: In September 2020, IPA announced a research collaboration with Zymeworks to utilize
their Azymetric™ and EFECT™ platforms for the development of antibody candidates against COVID-19.
> Completed Application Process to Dual Listing on NASDAQ: In September 2020, IPA announced its application to list on the NASDAQ Global Market
("Nasdaq") exchange and started trading December 30, 2020 under the trading ticker symbol "IPA". NASDAQ is the world's pre-eminent exchange for biotech and
pharma companies and will expand the Company's exposure and access to U.S. and international investors.
22Opportunities
for Growth
>Alliances and partnerships
ImmunoPrecise Antibodies - Innovation Accelerated
>Pre-clinical and clinical manufacturing
>Pre-clinical services
>Next generation technologies
>Growth of Talem Pipeline
> Genmab and Zymeworks programs
> Out-licensing deals
> Continued, aggressive asset generation
23Contact Information
ImmunoPrecise Antibodies Ltd. Jennifer L. Bath, Ph.D.
Vancouver Island Technology Park CEO & President
Unit 3204-4464 Markham Street www.immunoprecise.com
Victoria, British Columbia,
V8Z 7X8, Canada
Frédéric Chabot
Investor Relations
frederick@contactfinancial.com
438-863-7071
NASDAQ: IPA, TSX.V: IPALearn more about Talem by visiting www.talemtherapeutics.com
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