ConjuChem Inc. is an early stage biotechnology company and its primary business purpose is the development and use of its novel in vivo bioconjugation technology to develop improved therapeutic drugs. - PowerPoint PPT Presentation

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ConjuChem Inc. is an early stage biotechnology company and its primary business purpose is the development and use of its novel in vivo bioconjugation technology to develop improved therapeutic drugs.

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Title: ConjuChem Inc. is an early stage biotechnology company and its primary business purpose is the development and use of its novel in vivo bioconjugation technology to develop improved therapeutic drugs.


1
  • ConjuChem Inc. is an early stage biotechnology
    company and its primary business purpose is the
    development and use of its novel in vivo
    bioconjugation technology to develop improved
    therapeutic drugs.
  • The Company was incorporated in 1997. In
    November 2000 it completed its initial public
    offering of shares.
  • ConjuChem is located in Montreal, Canada and
    employs 45 people, 90 of whom are in research
    and development. 
  • The management team is headed by CEO Jacques
    Lapointe whose previous experience includes
    positions such as President and Chief Executive
    Officer of Glaxo Wellcome in both Canada and the
    UK and President and Chief Operating Officer of
    BioChem Pharma Inc.

2
Current price 12.29 (02/17/04) 52 week range
0.3-12.88 Average volume 455,742 (3mo) Market
Cap 486.7 mm EPS -0.92 P/E
-13.13 Revenue (03) 1.0 mm Expenses (03)
23.0 mm Net Loss (03) 27.6 mm Cash 41.9
mm Burn Rate (mm/mo) 2.0 Months of cash
21 Long term debt 22.3mm
DACGLP-1 formulation problems
Announcement of year end results
DAC opioid trials fail-August DACTI trial
fails-August CEO resigns- September
Preliminary DACGLP-1 Phase I/II data ( Jaques
Lapointe appointed CEO)
Phase II begins enrolling
Final I/II DACGLP-1 data
3
  • Each DAC construct is a fully patentable new
    chemical entity (NCE) that is composed of three
    components
  • A drug component a peptide or small molecule
    that is responsible for the biological activity
  • A connector permanently attached to the drug
    component
  • A reactive chemistry group at the opposite end
    of the connector responsible for the permanent
    bonding of the construct to albumin
  • The DAC construct can be administered into the
    patient by intravenous or subcutaneous injection.
    The reactive chemistry portion of the DAC
    construct will then covalently (permanently and
    specifically) bond to a single known site on
    albumin

4
  • SAFETY
  • DAC bioconjugates are not primarily metabolized
    in the liver and kidneys and therefore, cannot
    damage these organs. DAC bioconjugates do not
    readily cross the blood brain barrier, therefore
    they cannot access the central nervous system.
  • LONGEVITY
  • DAC bioconjugates can extend the half-life of
    a peptide from minutes to days. This extended
    duration of activity results from bonding the
    peptide to the most abundant protein in serum,
    albumin, in a process we call in vivo
    bioconjugation.

5
  • Conjuchems patent portfolio 52 patents in several
    countries covering
  • methods for producing drug conjugates
  • use of cellular and serum proteins as drug
    anchors and conjugates
  • affinity labelling libraries
  • novel conjugates of opioids
  • affinity markers for human serum albumin
  • long lasting insulinotropic peptides 
  • Long lasting synthetic glucagon like peptide 
  • Long lasting fusion peptide inhibitors of viral
    infection 
  • The oldest of these patents (expiring in the year
    2014) includes broad method claims on the use of
    in vivo bioconjugation for all therapeutic
    applications. Subsequent patent applications
    relate to focused therapeutic indications and
    specific drug conjugates

6
  • Lead product DACGLP-1
  • -Glucagon-Like peptide-1(GRP-1) induces
    pancreatic secretion of insulin for type II
    diabetic patients
  • -Type II diabetes market expect to reach US20.5
    billion by 2012
  • - 10/2002 resolved formulation problems due to
    degradation of product slowed phase I/II trials
    now last 3 months
  • -Phase I/II results 6/2003- 4 trials at
    different doses showed glucose control for up to
    6 days post injection n140
  • Side effect was nausea which was expected with
    GLP- treatable with Reglan no nausea seen with
    step up tx
  • Final Phase I/II- glucose normalization with all
    patients for 7 days post injection no
    immunogenicity
  • Phase II results expected Q2-2004- Our Binary
    event- endpoint HbA1c levels

7
  • 2nd product DACGRF
  • -Growth releasing hormone (GRH) stimulates Growth
    Hormone (GH) which is deficient in many disease
    (congential
  • deficiencies, AIDS-related lipodystrophy, COPD,
    and slow recovery from injury)
  • Conjuchem currently has multiple constructs that
    stimulate IGF-1 secretion in animal models for up
    to 10 days
  • post-single injection
  • -Phase I/II trials to commence Q2 2004

8
  • Products in research phase DACNP
  • -Atrial Natriuretic Peptide( ANP) is a vasoactive
    peptide that regulates blood pressure
  • Lead construct, CJC-1382HSA maintains
    bioactivity after conjugation and has serum
    half-life of 14.8 hours

Products in research phase GLP-2(Crohns
disease and other intestinal disorders),
Insulin PTH( Parathyroid Hormone)
hypocalecemia/osteoperosis Kringle V
(anti-angiogenic factor)- solid tumors
Two failed products DACOpioid DACTI (
thrombin inhibitor)
9
  • Collaborators

NONE- Conjuchem is perfect for acquisition
10
  • Competitors/Competitive Technology

Exenatide (Eli Lily/Amylin) Phase III trials
showed decreased HgbA1c levels lowered, weight
loss, Immunogenicity issues, cash burner, over
priced?, multiple injections Albugon (Human
Genome Sciences) AlbuminGLP-1 fusion
peptide No clinical trials yet Symlin
(Amylin) - synthetic version of pancreatic
hormone amylin May dose titration trial showed
25 of patients couldnt tolerate high doses,
recent withdrawal of Swiss drug application due
to side effects, recent Morgan Stanley
upgrade ThGLP-1(Theratechnologies) Long acting
platform that modifies enzymatic cleavage site
targeting, GLP-1, GRF, PTH three phase II trials
data expected soon. Litaglutide (NN2211 Novo
Nordisk) Long acting GLP-1 analog with a amino
acid modification that allows fatty acid
attachment that facilitates albumin binding
(protein lipidation). Not that long acting and
may be marketed as twice-daily or once daily
formulation. Currently in Phase II. Also using
this technology for Insulin ZP10
(Aventis/Zealand Pharma) Exendin-4 analog phase
I/II results show 2x daily administration lowers
blood glucose levels. Longer acting version is
in early stage development DPP-IV (Di-peptyl
peptidase) inhibitors (Probiodrug, Novartis) Long
term effects still unclear phase I trials have
not begun
11
  • Summary
  • Conjuchem is currently trading at 12.40/share.
    The GLP-1 target is on track to achieve upcoming
    phase II trial milestone, potential partnership
    and the advancement of additional compounds into
    clinical trials.
  • Issues
  • -DACGLP-1 critical for company survival
  • -multiple competitors positive/negative data
    will affect stock price
  • -company is not profitable and partnering is
    essential for survival
  • Upcoming Binary events
  • -Phase II trial data- Q2/04
  • - Potential for partnership /acquisition before
    Phase II data
  • (Large firms with diabetic therapy development
    but no current in-house GLP-1 development-
    Pfizer, Glaxo, AstraZeneca)
  • - Phase I GRH trials to begin Q2/04
  • - Nasdaq listing likely after phase II trial
    data
  • We recommend buying 100 shares of Conjuchem with
    the endpoint of Phase II trial data or
    acquisition.

12
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