A Cancer Immunotherapy Company Harnessing the Human Immune System To Diagnose and Treat Cancer March 2015 1
Disclaimer Forward Looking Statements THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS AND PROJECTIONS. THE COMPANY MAKES NO EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY AS TO THE COMPLETENESS OF THIS INFORMATION OR, IN THE CASE OF THE PROJECTIONS, AS TO THEIR ATTAINABILITY OR THE ACCURACY AND COMPLETENESS OF THE ASSUMPTIONS FROM WHICH THEY ARE DERIVED, AND IT IS EXPECTED THAT EACH PROSPECTIVE INVESTOR WILL PURSUE HIS, HER, OR ITS OWN INDEPENDENT INVESTIGATION. IT MUST BE RECOGNIZED THAT ESTIMATES OF THE COMPANY’S PERFORMANCE ARE NECESSARILY SUBJECT TO A HIGH DEGREE OF UNCERTAINTY AND MAY VARY MATERIALLY FROM ACTUAL RESULTS. IN PARTICULAR, THIS PRESENTATION CONTAINS STATEMENTS, INCLUDING WITHOUT LIMITATION THE PROJECTIONS, THAT CONSTITUTE “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE STATEMENTS APPEAR IN A NUMBER OF PLACES IN THIS PRESENTATION AND INCLUDE, BUT ARE NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY’S PLANS, INTENTIONS, BELIEFS, EXPECTATIONS AND ASSUMPTIONS, AS WELL AS OTHER STATEMENTS THAT ARE NOT NECESSARILY HISTORICAL FACTS. THE COMPANY COMMONLY USES WORDS IN THIS MEMORANDUM SUCH AS “ANTICIPATES,” “BELIEVES,” “PLANS,” “EXPECTS,” “FUTURE,” “INTENDS,” AND SIMILAR EXPRESSIONS TO IDENTIFY FORWARD-LOOKING STATEMENTS AND PROJECTIONS. YOU ARE CAUTIONED THAT THESE FORWARD-LOOKING STATEMENTS AND PROJECTIONS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE RISKS AND UNCERTAINTIES. THE COMPANY’S ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS AND PROJECTIONS DUE TO VARIOUS FACTORS, INCLUDING COMPETITION, MARKET FACTORS, GENERAL ECONOMIC CONDITIONS AND THOSE DESCRIBED IN THE “RISK FACTORS” SECTION. THE INFORMATION CONTAINED IN THIS PRESENTATION DESCRIBES SEVERAL, BUT NOT NECESSARILY ALL, IMPORTANT FACTORS THAT COULD CAUSE THESE DIFFERENCES. 2
Differentiated Cancer Immunotherapy Company With Multiple Near Term Clinical Milestones ➡ Cancer vaccine program supported by multiple NIH grants Complementary Immuno- – In-licensed portfolio from Memorial Sloan-Kettering Cancer Center Oncology ➡ Antibody discovery platform with >100 fully-human antibody leads Technologies – Novel human antibodies discovered from blood samples of vaccinated patients ➡ Sarcoma vaccine in Phase 2 with 2016 OS readout ➡ Ovarian vaccine in Phase 2 with 2016 OS readout Substantial Near Term ➡ Neuroblastoma vaccine Phase 2 IND Filed 2H2015 Clinical Pipeline ➡ Lead antibody 5B1: two INDs for Phase 1 trials late 2015 - Therapeutic and companion diagnostic products targeting metastatic pancreatic cancer ➡ Capital efficient development model Efficient ➡ Experienced management and revitalized board with significant public Productive company experience Well Managed ➡ Raised $20M in VC/Public money and $6M in NIH grants 3 Ticker Symbol: MBVX on OTCQB
Capital Efficient Business Model • Operate as virtual company in all areas but discovery • Internal focus is on discovery and early development where resource requirements are less intensive • Externally focus on partnering products at early proof of concept secure additional capital and drive increasing corporate valuation • Significant NIH funding for both antibody and vaccine programs • No discovery or early development costs for vaccine program • Preclinical antibody pipeline robust enough to support early partnering of first assets 4 Ticker Symbol: MBVX on OTCQB
Capital Efficient Business Significant Progress Since Becoming A Model Public Company In 2014 2014 Milestones Achieved Timing Series C financing raised $3M February Expanded Management Team: Hiring of CFO and VP Development February Initiated GMP manufacturing of lead antibody product candidate April Common stock financing and warrant exercise raised $4.5M July Merger/ name change/ reverse stock split/ ticker symbol change July - September Phase 2 of NIH award of $1.75M to develop 5B1-antibody based August diagnostic product Strengthened Board of Directors with 4 new members September Agreement with Juno Therapeutics and MSKCC on development of September CAR T-cell products Orphan Drug Designation for childhood cancer-neuroblastoma vaccine September 5 Ticker Symbol: MBVX on OTCQB
Management and Board of Directors Management Board of Directors J. David Hansen MabVax, Avanir, Xenerex Ken Cohen Founder, Former President and CEO Biosciences, Dura, Schering- of Somaxon Pharmaceuticals, Founder, President & CEO Plough, Key, BMS Board Member Synbiotics, Canji Robert Hoffman Senior VP Finance & CFO of Arena Memorial Sloan Kettering Cancer Philip Livingston, Pharmaceuticals, CFO Polaris Group, Center M.D. Member FASB Advisory Committee Founder & Chief Science Officer Jeffery Ravetch, Rockefeller University, National Academy of Sciences and Institute Gregory Hanson Avanir, First Cornerstone, Brinson M.D., Ph.D Patrick Securities, Mast of Medicine, Academy of Arts and Chief Financial Officer Therapeutics, Xxsys Technologies, Sciences and the American L-3 Communications Association for Advancement of Science Avanir, Xenerex Biosciences, Wolfgang Scholz, Paul Maier Former CFO Seqenom Inc., Former Tanabe Research Laboratories Ph.D. Sr. VP & CFO Ligand USA, Desmos, Scripps Research Founder & Vice President Institute Pharmaceuticals Antibody Discovery Michael Wick, M.D., Telik. CV Therapeutics, Lederle Labs. Associate Professor Harvard Medical Ph.D. Paul Maffuid, Ph.D. AAIPharma Services, School. Biopharmalogics, Arena Vice President Product Pharmaceuticals, Amylin, Development & Operations Philip Livingston, Corporate Officer Magellan Labs, Cabrillo Labs, Glaxo Research Institute M.D. J. David Hansen Corporate Officer 6 Ticker Symbol: MBVX on OTCQB
Clinically Advanced Cancer Vaccine Program • Vaccines elicit an immune response against validated tumor antigens present on solid tumors – Targets are primarily carbohydrates and not possible to raise human antibody responses against unless vaccinate – Serology from the sarcoma study demonstrates 98% of patients generate an immune response to the vaccine Two late stage Phase II clinical programs; sarcoma and ovarian cancer • – All patients enrolled and vaccinated and minimal expense for survival follow-up in 2016 • Neuroblastoma vaccine ready for Phase 2 trial initiation in 2H2015 – Received US FDA Orphan Drug Designation • Broader portfolio includes completed early stage clinical trials in melanoma, breast cancer , and small cell lung cancer – On hold until readouts on sarcoma and ovarian trials • Plan to pursue out-licensing option for sarcoma and ovarian cancer vaccines after survival endpoint reached 2016 7 Ticker Symbol: MBVX on OTCQB
Sarcoma Vaccine POC Phase II Results Due 1H2016 Medical Management Of Recurrent Disease • 5,290 deaths per year • Recurrence rates up to 50% 13,230 • Current therapies ineffective at preventing recurrence 100,000 Clinical Program Status • Randomized, multicenter, double-blind Phase II trial of 136 patients at 13 sites • Fully enrolled with all patients fully vaccinated • Monitoring for overall survival • Statistically powered to show a 50% improvement in PFS and OS Commercial Opportunity • Good economics: single vaccine for all patients allows cost efficient manufacturing from non-recombinant components • Limited competitors in adjuvant market aimed at prolonging PFS and OS • Market opportunity is ~$200MM to ~$300MM in annual sales All incidence and survival date from National Cancer Institutes SEER data 8 Ticker Symbol: MBVX on OTCQB
Ovarian Vaccine POC Phase II Results Due 1H2016 Medical Management Of Recurrent Disease • 13,850 deaths per year 21,880 • Recurrence rate is 70% and 5-year survival is 40% • Current therapies ineffective at preventing recurrence Clinical Program Status 174,000 • Completely NCI funded and managed by GOG • Randomized, multicenter, double-blind Phase II trial of 164 patients initiated in July 2010 at 20+ sites • Fully enrolled and all patients vaccinated • Monitoring for overall survival • Statistically powered to show a 50% improvement in PFS and OS Commercial Opportunity • Good economics: single vaccine for all patients allows cost efficient manufacturing from non-recombinant components • Limited competitors in adjuvant market aimed at prolonging PFS and OS • Market opportunity is ~$200MM to ~$400MM in annual sales All incidence and survival date from National Cancer Institutes SEER data 9 Ticker Symbol: MBVX on OTCQB
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