Exhibit 99.1
Exhibit 99.1
Sorrento Therapeutics
Next-Generation
Cancer Therapeutics
October 2013
Safe Harbor Statement OTC QB: SRNE
This presentation contains “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), including statements regarding expectations, beliefs or intentions regarding our business, technologies and products strategies or prospects. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to, the possibility that some or all of the pending matters and transactions being considered by the Company may not proceed as contemplated, and by all other matters specified in Company’s filings with the Securities and Exchange Commission, as well as risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and product candidates. Sufficiency of the data for approval with respect to Cynviloq™ will be a review issue after NDA filing. These statements are made based upon current expectations that are subject to risk and uncertainty and information available to the Company as of the date of this presentation. The Company does not undertake to update forward-looking statements in this presentation to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.
Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company’s filings with the Securities and
Exchange Commission, including its most recent periodic report. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
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Management Team and Board of Directors
Henry Ji, Ph.D. President, CEO & Director
Inventor of G-MAB® Technology President & CEO of Stratagene Genomics VP of CombiMatrix and Stratagene
Vuong Trieu, Ph.D. Chief Scientific Officer
Founder and CEO of IgDraSol Co-inventor of IP covering Abraxane® Instrumental in the approval of Abraxane® Celgene acquired Abraxis Biosciences for > $3 billion
George Uy Chief Commercial Officer
CCO of IgDraSol Directed the launches of Abraxane®, Xeloda® & Fusilev® Built commercial infrastructures and organizations in startup companies
Richard Vincent CFO and Director
$430M sale of Elevation to Sunovion-Dainippon Meritage Pharma option agreement with ViroPharma ($90M upfront + milestones) $310M sale of Verus asthma program to AstraZeneca Elan: various acquisitions and divestitures with aggregate values in excess of $300M
Board of Directors
David Webb, Ph.D.—Chairman
Celgene (former San Diego site head)
Ernst-Günther Afting, M.D.,Ph.D.
Hoechst (former President)
Cam Gallagher
Nerveda, LLC (Managing Director)
Kim D. Janda, Ph.D.
The Scripps Research Institute (Prof.)
Henry Ji, Ph.D.
Sorrento (CEO)
M. Scott Salka
Ambit Biosciences (former CEO)
Jaisim Shah
PDL (former CBO)
Vuong Trieu, Ph.D.
Sorrento (CSO)
Richard Vincent
Sorrento (CFO)
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Investment Highlights
Late Stage Oncology Drug with Exclusive US and EU Rights
Addresses multi-billion dollar paclitaxel market
Abbreviated regulatory pathway (“bioequivalence”) for approval
Bioequivalence registration trial in 2014 (study direct costs ~ $5M)
Product launch in 1H 2016
Therapeutic antibody engine
Antibody market >$50B in 2012
First antibody drug candidate in clinic 1H 2015
Targeted Drug Delivery Combining
Antibody as specific targeting warhead
Small Molecule Drug as potent tumor killing payload
Toxin for Antibody Drug Conjugates (ADC)
Paclitaxel for Antibody formulated Drug Conjugates (AfDC)
Cynviloq™ G-MAB® ADC/AfDC
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Sorrento’s Next-Generation Cancer Therapeutics
Cynviloq™
Next-generation Abraxane®
Bioequivalence (BE) pathway for approval
Efficacy demonstrated
US and EU rights
G-MAB®
High-diversity human Ab library
Lead mAb programs include PD-L1, PD-1, and CCR2
FTO and no stacking royalties
AfDC: Antibody formulated Drug Conjugate
G-MAB targets approved chemotherapeutics to the tumor
Effective against heterogeneous tumors
ADC: Antibody Drug Conjugate
G-MAB targets toxin to cancer cell
Programs include VEGFR2, c-Met
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Pipeline
INDICATION
PHASE 2 PHASE 3 NDA FILING
Metastatic Breast Cancer
}505(b)(2) Bioequivalence
Non-Small Cell Lung Cancer
Pancreatic Cancer (BE* or sNDA)
Bladder Cancer (sNDA)
Ovarian Cancer (sNDA)
Cynviloq™
G-MAB®
ADC
AfDC
INDICATION > TARGET PRECLINICAL PHASE 1
Oncology > PD-L1, PD-1, CXCR5 1H 2015 Inflammation > CCR2, CXCR3 2H 2015 Infectious Disease > MRSA, C.diff
Oncology > VEGFR2, c-Met, CXCR5, EGFR 2H 2015
Oncology > PD-L1, VEGFR2, c-Met
1H 2014 1H 2015
Multiple Strategic Partnership Opportunities
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Abraxane® orphan drug status (FDA approval, September 2013) |
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Oncology Franchise
Cynviloq™
Phase 3
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Cynviloq is the 3rd Generation Paclitaxel Therapy
Generation
Formulation
Maximum Tolerated Dose
Peak Product Sales
1st
Taxol® paclitaxel
Cremophor EL excipient: Polyoxyethylated castor oil
175 mg/m2
~ $1.6B (WW in 2000)
2nd Abraxane® nab-paclitaxel Mean 130 size nm Donor-derived Biological polymer: human serum albumin (HSA) 260 mg/m2 Est. >$1.7B* (US) ($430M in 2012)
3rd Cynviloq™ paclitaxel polymeric micelle Mean size ~25 nm Chemical polymer: Poly-lactide and polyethylene glycol diblock copolymer >300 mg/m2 (up to 435 mg/m2) Conversion of Abraxane® sales + new indications
*Analyst projection ; in Metastatic Breast Cancer + Non-Small Cell Lung Cancer + Pancreatic Cancer
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Cynviloq is a High Value Proposition
1. Exclusive US and EU Rights
2. Cynviloq efficacy demonstrated in Phase 2 and Phase 3 studies
3. FDA concurred a. Available data support pursuing 505(b)(2) regulatory pathway b. Bioequivalence (BE) study sufficient for approval of indications in Abraxane® label (Metastatic Breast Cancer and Non-Small Cell Lung Cancer)
4. Large market opportunity a. Abraxis (Abraxane®) sold to Celgene for > $3B b. $1.7B in projected US peak revenues for Abraxane®
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Bioequivalence = Efficient Pathway to Market
Bioequivalence registration study in breast cancer patients (2014)
12 months of duration (including patient recruitment)
Direct trial cost ~$5M
Cycle 1
Cycle 2
Abraxane® (50 patients) Abraxane® Cynviloq™ (50 patients) Cynviloq™
Dose: 260 mg/m2 Infusion time: 30 min Duration: 3 weeks + crossover for 3 weeks Endpoints: AUC and
Cmax (90% CI)
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Cynviloq Market Opportunity
~70,000 patients treated with paclitaxel-based regimen in 1st line
# of Patients Treated in 1st line (US Only; 2012)
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
-
30,766
15,903 14,479 9,880
NSCLC MBC Pancreatic Cancer Ovarian Cancer n = 93,800 n = 38,000 n = 27,000 n = 17,700
Other regimens PAC+ treated
~55,000 patients with paclitaxel as 1st line therapy in MBC, NSCLC & OC
15,903 PC patients eligible for treatment with Abraxane® + Gemcitabine combination
Note: In Pancreatic Cancer, the blue portion represents # patients treated with gem-based Rx in 2012
Sources: US information, SEER Annual Cancer Review 1975-2006; US Census; Mattson Jack; UHC and Medicare Claims; IntrinsiQ; Synovate Tandem. WHO mortality database 2008 http://www.who.int/whosis/whosis/. World Population Prospects. The 2008 Revision. UN Population Division 2009. http://esa.un.org/unpp/. Roche-Genentech Clinical, Patient Chart Audits. Total patient numbers represent treatable population. 1st Line patient estimates from IntrinsiQ 2012 Monthly LOT Diag Combo.
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Cynviloq Advantages
Cynviloq™ Abraxane®
Taxol®
Cynviloq
Advantage
Maximum Tolerated Dose (mg/m2)
>300
260
175
Potential for higher efficacy
Rapid reconstitution: no foaming concerns
Convenience for busy practices and pharmacies
No donor-derived human serum albumin (HSA)
No viral / prion concerns
Convenient storage conditions
No requirement for controlled temp storage
No microbial growth
Chemical polymer
Cremophor-free
Reduced side effects
Dosing
q3w
q3w* & weekly**
q3w & weekly
Exploits PK advantage @ higher dose
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= MBC; ** = NSCLC & PC 12 |
Potential to Expand Label Indications –
For Example: 2nd Line Bladder Cancer
Cynviloq Phase 2 (Korea)* 260-300 mg/m2 q3w n=34#
Best Supportive Care Phase 2 (Japan) **/ Phase 3 (EU)*** n=23** / n=108***
Overall Response Rate (ORR)
21%
- / 0%***
Progression Free Survival
2.7 M
- / 1.5 M***
Overall Survival
6.5 M
2.3 M** / 4.3 M***
Summary:
High unmet need—no FDA-approved 2nd line drug
Demonstrated clinical Overall Response Rate (ORR)
Phase 3-ready for development as 2nd line chemotherapy in patients refractory to platinum-based therapy
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Invest New Drugs (2012) 30:1984–1990 |
# advanced urothelial carcinoma patients refractory to gemcitabine and cisplatin
** AUA- San Diego May 4th-8th; *** JCO (2009): 4454-61
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Next Steps for Cynviloq
1. Bioequivalence (BE) trial: 2014
2. NDA filing: 2014 / 2015
3. Approval: 2015 / 2016 a. Metastatic Breast Cancer (MBC) and Non-Small Cell Lung Cancer (NSCLC) b. Future Abraxane® indications (Pancreatic cancer and Melanoma)
4. Product launch for MBC and NSCLC: 2016
5. sNDA planning for label expansion into Bladder and Ovarian cancers
Bioequivalence Trial
NDA Filing
FDA Approval
LAUNCH
2014 2014/ 2015 2016
2016
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Therapeutic Antibody Engine
G-MAB®
Extensive Pipeline
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G-MAB®: Library of Therapeutic Antibodies
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Proprietary technology Very high library diversity: |
- RNA amplification used for 2.1 x 1016 distinct antibodies library generation
- Freedom-To-Operate • Fully human antibodies
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No stacking royalties High successful screening hit rate |
Difficult Targets:
Small Peptides
Most Difficult Targets:
High Value Oncology Targets: G Protein-Coupled Receptors Immunomodulation: PD1 and PD-L1 (GPCRs) Antibody Drug Conjugates: c-Met; VEGFR2
Size of Target Antigen
AIP-1
AIP-2
AIP-3
AIP-4
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Anti-PD-L1 mAbs Exhibit Potent Activity
Immune Modulation*
Tumor Mouse Model**
T Cell Activation (%)
40
30
20
10
0
IFN-? (pg/mL)
15000
12000
9000
6000
3000
0
IL-2 (pg/mL)
800
600
400
200
0
Tumor Growth Inhibition (%)
50
40
30
20
10
0
15
25
Day
Competitor mAb
Sorrento mAb
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mAbs @ 0.05 mg/mL |
** xenograft model using H1975 human NSCLC cells; % inhibition relative to control mAb treatment
*** p<0.05, mean tumor volumes are significantly reduced in STI-A1010 group versus control groups as determined by Mann-Whitney u-test
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Anti-PD-1 mAbs Exhibit Potent Immune Modulation
IL-2 Concentration (pg/mL)
1000
800
600
400
200
0
INF-? Concentration (pg/mL)
15000
10000
5000
0
T cell Activation (% CD25+ )
normalized to untreated control
25
20
15
10
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0
Competitor mAbs
Sorrento mAb
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Potent Antibody against Difficult GPCR Target*
Disease Score**
mAb Cell Binding
(EC50 –nM)
Sorrento 0.17
Competitor 21
Untreated Sorrento mAb
3.5
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2.5
2 |
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1.5
1 |
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0.5
0
13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38
Days After Disease Induction
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Sorrento mAb against C-C Chemokine Receptor 2 (CCR2) |
** Experimental Auto-immune Encephalomyelitis (EAE) = murine model of Multiple Sclerosis
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Targeted Drug Formulation Platform
ADC/AfDC G-MAB®+Payload
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Antibody Drug Conjugates (ADC)
Key Components: 1 ADC in plasma
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ADC binds to receptor |
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ADC is internalized |
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Cytotoxic agent is released |
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Apoptosis (cell death) |
1. Target-specific internalizing antibody
2. Potent cytotoxic prodrugs
3. Linker and conjugation chemistries
Drug released in CANCER CELL
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Sorrento ADCs Demonstrate Enhanced Activity
Anti-VEGFR2 ADC*
Anti-c-Met ADC**
Relative Cell Viability
(% of non treated cells)
100
50
0
0.0001
0.001
0.01 0.1 p value<0.0001
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100 80 60 40 20 0 0.0001 0.001 0.01 0.1 1 p value<0.0001
IgG Concentration (nM)
Viability
Relative
IgG Concentration (nM)
Leading Competitor mAb Toxin Control
Sorrento ADC (mAb + Toxin)
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Human Vascular Endothelial Cells (HUVECs) |
** Human A549 NSCLC Cells
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Sorrento anti-GPCR ADCs Demonstrate Enhanced Activity
Anti-CXCR3 ADC*
Anti-CXCR5 ADC**
Relative Cell Viability
(% of non treated cells) 150 100 50 0 -50 0.001 0.01 0.1 1 10
100 50 0 0.001 0.01 0.1 10 IgG Concentration (nM) (% of non treated cells) of non treated cells)
IgG Concentration = p 0. 0035**value
= p 0. 0015**value
Sorrento naked mAb Toxin Control
Sorrento ADC (mAb + Toxin)
IgG Concentration (nM)
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Cells expressing human CXC chemokine receptor 3 (CXCR3) |
** Cells expressing human CXC chemokine receptor 5 (CXCR5)
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Antibody formulated Drug Conjugates (AfDC)
Key Features:
1. Approved chemotherapeutics with known safety profile
2. No internalization required
3. Multiple mAbs / drug combinations
4. Effective against heterogeneous tumors
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AfDC in plasma |
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AfDC binds to cancer antigens and enriches in tumor |
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Cytotoxic agent is released and enters tumor cells |
TUMOR
Drug released in TUMOR
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G-MAB®, ADC and AfDC Pipeline
G-MAB® Antibody
PD-L1 (STI-A100X) 1H 2015
PD-L1 (STI-A100X) AfDC
PD-1 (STI-A110X) 1H 2015
ONCOLOGY
VEGFR2-ADC (STI-A0168) 2H 2015
EGFR (STI-A020X) ADC/AfDC
c-Met (STI-A150X) ADC/AfDC
PD-L1 (STI-B010X)
INFLAMMATION RAGE (STI-B120X)
CGRP (STI-B150X)
CCR2 (STI-B020X) 2H 2015
ONCOLOGY / CCR2 (STI-B020X) ADC
INFLAMMATION
(GPCR) CXCR3 (STI-A120X) ADC
CXCR5 (STI-B030X) ADC
INFECTIOUS
MRSA (STI-C020X)
DISEASE
Multiple Strategic Partnership Opportunities
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Positioned to Become Oncology Leader
Cynviloq™
G-MAB®
ADC/AfDC Phase 3 Extensive Pipeline G-MAB + Payload
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Small Molecule Oncology Drug, Antibody Library and ADC Company Valuations
Company Small Molecule Antibody Targeted Mkt Cap* Oncology Drug Platform Drug Delivery
NSCLC, MBC Antibody
Sorrento: SRNE ADC & AfDC $130M
(Ph3/Registration Trial) Library
Puma: PBYI
MBC (Phase 3) ~$1.6B Pre-revenue
Clovis: CLVS
NSCLC, MBC (Phase 1) ~$1.9B Pre-revenue
MorphoSys: MOR.DE Antibody
~$2.0B
Pre-revenue Library CAT: Acquired (2006) Antibody
~$1.4B
Pre-revenue Library Domantis: Acquired (2007) Antibody
~$450M
Pre-revenue Library
Seattle Genetics: SGEN
ADC ~$5.4B Product sales + royalty
ImmunoGen: IMGN
ADC ~$1.5B Royalty only
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based on publicly-available information (09/26/13) |
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Investment Highlights
Cynviloq™
G-MAB®
ADC/AfDC
Late Stage Oncology Drug with Exclusive US and EU Rights
• |
|
Addresses multi-billion dollar paclitaxel market |
• |
|
Abbreviated regulatory pathway (“bioequivalence”) for approval |
• |
|
Bioequivalence registration trial in 2014 (study direct costs ~ $5M) |
• |
|
Product launch in 1H 2016 |
Therapeutic antibody engine
• |
|
Antibody market >$50B in 2012 |
• |
|
First antibody drug candidate in clinic 1H 2015 |
Targeted Drug Delivery Combining
• |
|
Antibody as specific targeting warhead |
• |
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Small Molecule Drug as potent tumor killing payload |
• |
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Toxin for Antibody Drug Conjugates (ADC) |
• |
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Paclitaxel for Antibody formulated Drug Conjugates (AfDC) |
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Financials & Capitalization
Cash and Cash Equivalents $ 5.7M
Total Debt $ 5.0M
Common Stock Outstanding 16,479,734
Options Granted & Outstanding (1) 512,600
Warrants Outstanding (2) 39,250
Current Capitalization 17,034,784
Pro Forma Issuances:
IgDraSol Milestone 1,306,272
Assignment Agreement 80,000
Pro Forma Capitalization 18,421,056
Weighted average exercise price: $4.25
Weighted average exercise price: $6.57
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Sorrento Therapeutics
Next-Generation Cancer Therapeutics
Contact: Henry Ji
President and CEO hji@sorrentotherapeutics.com (858) 668-6923
Cynviloq : Interim Results from Phase 3 MBC Study
Phase 3 study in MBC Summary of
Clinical Exposures
Stage Trial Patients
Phase 1 MTD 80
MBC, NSCLC,
Phase 2 259
PC, OC, BC
Phase 3 MBC 105
Post Market MBC, NSCLC 502
(Safety)
Total 946
US approval for Abraxane® in MBC and NSCLC for non-inferiority against Taxol® based on ORR
- No obvious ethnic differences seen between ORR in trials * Interim data from trial; OS and PFS analyses ongoing
45 40 35 30 25 20 15 10 5 0
p = 0.03 p = 0.001 p = 0.025
n=105 n=104 n=209 n=205 n=81 n=82
Cynviloq™Taxol® Abraxane© CA012 Taxol© Abraxane© Taxol©
South Korea* United States China
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Simulated PK Parameters Supportive of BE:
Cynviloq™ vs. Abraxane®
Comparison of mean non-compartmental pharmacokinetic parameters of
Cynviloq™ (T) and Abraxane® (R) @ 260 mg/m2 with 30 min infusion time:
Cmax Ratio AUCinf Ratio
(ng/mL) Cmax(T)/Cmax(R) (ng*h/mL) AUCinf(T)/AUCinf(R)
CynviloqTM 19486 22198
(Simulated PK)
99.6% 109.2%
Abraxane® 19556 20324
(Actual PK)*
Note: Internal calculations done as 95% CI
Per FDA requirement, ratio T/R (Cmax and AUCinf) must be within 80-125% (90% confidence interval, or CI)
Cynviloq™ data on file
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Gardner et al, 2008 |
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Why Antibody Therapeutics
Clinical track record of safety and efficacy
Most successful drug class today
Excellent target specificity and affinity
Limited off-target effects
Predictable PK/PD properties
Good serum half life
Effector functions
Recruitment of patient’s immune system against diseased cells
Tunable drug characteristics
Engineering of PK and effector functions
Targeted delivery of cytotoxic drugs
Antibody Drug Conjugates (ADC) and Antibody formulated Drug Conjugates (AfDC)
Feb region
Hinge region
Feb region
Fc region Feb Fc HLcv
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s
Top 10 Selling Therapeutic Antibodies (>$50B)
2012 Sales
mAb Target Companies (US$ billions)*
US Global
Humira (Adalimumab) TNF Abbott; Esai 4.4 9.3
Enbrel (Etanercept) TNF Amgen; Pfizer; Takeda 4.0 8.0
Rituxan (Rituximab) CD20 Roche 3.3 7.0
Remicade (Infliximab) TNF J&J; Merck; Mitsubishi Tanabe 3.6 6.6
Herceptin (Trastuzumab) HER2 Roche 1.7 6.2
Avastin (Bevacizumab) VEGF Roche 2.6 6.1
Lucentis (Ranibizumab) VEGF Novartis; Roche 1.6 4.0
Erbitux (Cetuximab) EGFR BMS; Merck-Serono 0.7 1.8
Tysabri (Natalizumab) 4 integrin Biogen Idec 0.9 1.6
Xolair (Omalizumab) IgE Novartis; Roche 0.7 1.3
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